Civic Intelligence

International Folk Art Foundation

990 • Fiscal year 2016 • EIN 85-6000853

Jul 01, 2015 to Jun 30, 2016 • Filed on May 13, 2017

Organization ProfileN/A
PO Box 8807Santa Fe, NM 87504-8807

(505) 983-2612

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2016 filings • NTEE A • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.02x

Higher debt load relative to revenue than 14% of similar nonprofits.

2016 filings • NTEE A • $10M-$25M nonprofits • Source year 2016

Net Margin

3rd percentile

-120%

Higher net margin than 3% of similar nonprofits.

2016 filings • NTEE A • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

11th percentile

$65,052

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2016 filings • NTEE A • $10M-$25M nonprofits • Source year 2016

Asset Growth

13th percentile

-6.5%

Faster asset growth than 13% of similar nonprofits.

2016 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

3rd percentile

-81%

Faster revenue growth than 3% of similar nonprofits.

2016 filings • NTEE A • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets7th percentile

Assets

Down

$24,505,751

Down $1,706,368 (-6.5%) from 2015

Net Assets

Down

$24,498,266

Down $1,692,992 (-6.5%) from 2015

Liabilities

Down

$7,485

Down $13,376 (-64%) from 2015

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin3rd percentile

Revenue

Down

$482,828

Down $2,073,466 (-81%) from 2015

Expenses

Down

$1,062,539

Down $643,641 (-38%) from 2015

Net Income

Down

-$579,711

Down $1,429,825 (-168%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $19,215,211Liabilities 2010: $7,316Net Assets 2010: $19,207,8952010Assets 2011: $23,388,540Liabilities 2011: $49,969Net Assets 2011: $23,338,5712011Assets 2012: $21,845,926Liabilities 2012: $13,248Net Assets 2012: $21,832,6782012Assets 2013: $23,489,648Liabilities 2013: $15,633Net Assets 2013: $23,474,0152013Assets 2014: $27,053,044Liabilities 2014: $3,523Net Assets 2014: $27,049,5212014Assets 2015: $26,212,119Liabilities 2015: $20,861Net Assets 2015: $26,191,2582015Assets 2016: $24,505,751Liabilities 2016: $7,485Net Assets 2016: $24,498,2662016Assets 2017: $27,336,599Liabilities 2017: $0Net Assets 2017: $27,336,5992017Assets 2018: $29,501,304Liabilities 2018: $33,970Net Assets 2018: $29,467,3342018Assets 2019: $30,068,919Liabilities 2019: $0Net Assets 2019: $30,068,9192019Assets 2020: $29,075,892Liabilities 2020: $7,790Net Assets 2020: $29,068,1022020Assets 2021: $38,080,422Liabilities 2021: $20,636Net Assets 2021: $38,059,7862021Assets 2022: $32,176,768Liabilities 2022: $3,701Net Assets 2022: $32,173,0672022Assets 2023: $33,617,186Liabilities 2023: $38,533Net Assets 2023: $33,578,6532023Assets 2024: $36,666,070Liabilities 2024: $49,168Net Assets 2024: $36,616,9022024

Highlighted filing

2016

Assets$24,505,751
Liabilities$7,485
Net Assets$24,498,266
Open 2016 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2010: $766,6362010Expenses 2011: $612,7922011Expenses 2012: $782,3862012Revenue 2013: $1,094,390Expenses 2013: $717,343Net Income 2013: $377,0472013Revenue 2014: $3,570,873Expenses 2014: $863,878Net Income 2014: $2,706,9952014Revenue 2015: $2,556,294Expenses 2015: $1,706,180Net Income 2015: $850,1142015Revenue 2016: $482,828Expenses 2016: $1,062,539Net Income 2016: -$579,7112016Revenue 2017: $858,829Expenses 2017: $1,114,778Net Income 2017: -$255,9492017Revenue 2018: $1,430,873Expenses 2018: $863,928Net Income 2018: $566,9452018Revenue 2019: $1,344,487Expenses 2019: $776,872Net Income 2019: $567,6152019Revenue 2020: $1,380,032Expenses 2020: $823,032Net Income 2020: $557,0002020Revenue 2021: $894,003Expenses 2021: $708,548Net Income 2021: $185,4552021Revenue 2022: $2,786,006Expenses 2022: $785,531Net Income 2022: $2,000,4752022Revenue 2023: $880,247Expenses 2023: $825,902Net Income 2023: $54,3452023Revenue 2024: $1,189,756Expenses 2024: $1,000,738Net Income 2024: $189,0182024

Highlighted filing

2016

Revenue$482,828
Expenses$1,062,539
Net Income-$579,711
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 13, 2017
Return Version
2015v3.0
Gross Receipts
$3,091,744
Mission and Program Overview

Mission

To provide financial assistance to the museum of international folk art and further the understanding of folk art as it relates to the people of the world.

To broaden the study of folk art in order to promote a better understanding of all cultures.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,834,105$1,747,454▼ $86,651
Savings and Temporary Cash Investments$621,250$956,664▲ $335,414
Accounts Receivable$168,274$17,970▼ $150,304
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$26,212,119$24,505,751▼ $1,706,368
Other Assets Total$23,588,490$21,783,663▼ $1,804,827
Liabilities
Accounts Payable and Accrued Expenses$19,539$5,072▼ $14,467
Other Liabilities$1,322$2,413▲ $1,091
Total Liabilities$20,861$7,485▼ $13,376
Net Assets / Fund Balance
Permanently Rstr Net Assets$23,605,038$21,800,211▼ $1,804,827
Unrestricted Net Assets$2,416,403$2,528,101▲ $111,698
Temporarily Rstr Net Assets$169,817$169,954▲ $137
Total Net Assets Fund Balance$26,191,258$24,498,266▼ $1,692,992
Total Liabilities and Net Assets / Fund Balance$26,212,119$24,505,751▼ $1,706,368

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$1,401$1,401
Other Assets Org$21,783,663--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$550,000---$550,000
2014$550,000---$550,000
2013$550,000---$550,000
2012$550,000---$550,000
2011$550,000---$550,000
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Laurel SethExecutive DirectorFT$53,052$12,000$65,052

Board Members and Trustees

NameTitle
John DraperPresident
Lisa MayerVice-president
Carmella PadillaMember
Jim SneadMember
Ray DeweyMember
Roberta SymeMember
Georgia CarsonSecretary
David MatthewsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$20,273
Program Service Revenue
$77,543
Investment Income
$272,125
Other Revenue
$112,887
All Other Contributions
$20,273
Change in Net Assets
$-579,711

Audited Revenue Reconciliation

Revenue per Audited Statements
$389,741
Revenue Not Reported on Financial Statements
$93,087
Revenue Not Reported on Form 990
$-1,113,282
Total Revenue per Audited Statements
$-723,541
Total Revenue per Form 990
$482,828
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$986,233
Salaries, Compensation, and Employee Benefits$66,306
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$93,087-$93,087
Current Officers, Directors, Trustees, and Key Employees-$61,582-$61,582
Fees for Services Accounting-$23,223-$23,223
Occupancy-$10,500-$10,500
Grants to Domestic Orgs$10,000--$10,000
Payroll Taxes-$4,724-$4,724
Office Expenses-$4,608-$4,608
Other Expenses$60,441$500-$500
Total Functional Expenses$858,159$204,380$0$1,062,539

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,062,539
Expenses per Audited Statements$909,010
Total Expenses per Audited Statements$909,010
Expenses Not Reported on Financial Statements$153,529
Other Expense Adjustments$60,442
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
International Folk Art AllianceSanta Fe, NM-Support an Artist or Co-op by Paying Their Travel Expenses to Attend the Folk Art Market.$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Tax$2,413
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The executive director and trustees review the return via email prior to the board president's signature and its filing.”

Form 990, Part VI, Section B, Line 12C

“The board meets and discusses any potential conflicts of interest. The discussion and vote takes place while the subject is out of the room.”

Form 990, Part VI, Section B, Line 15

“The board meets in executive session and discusses and determines the compensation of the executive director. Minutes are taken by a board member. The board attempts to find comparables and they are included during discussion.”

Form 990, Part VI, Section C, Line 19

“The foundation provides copies of its governing documents and audited financial statements to the public upon request by telephone or in writing.”

Filing and Contact Details

Filer

Filer Name
International Folk Art Foundation
EIN
85-6000853
Phone
5059832612
Address
PO BOX 8807, SANTA FE, NM 87504-8807

Signing Officer

Name
Laurel Seth
Title
Executive Director
Phone
5059832612
Signed
2017-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laurel Seth
Formed
1951
Legal Domicile
Nm
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
9

Preparer

Firm
Barraclough & Associates Pc
Address
PO BOX 1847, SANTA FE, NM 87504
Preparer
Rhonda G Williams
Phone
5059833387
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING 1.”

Financial Statement Notes

PART III, LINE 1A:

“The foundation collection consists of folk art pieces. The foundation has chosen not to capitalize the collection; this is an allowed practice under generally accepted accounting principles. Collection acquisitions are expensed out in the year of purchase. Donated collection pieces are accounted for by an in-kind donation of the value of the piece, with an equal amount in the collection acquisition expense account. The foundation's collection is housed at the museum of international folk art in accordance with an agreement between the parties. The collection is covered under the risk management program of the state of new mexico. During the years ended june 30, 2016 and 2015, there were no items in the foundation's collection that were damaged, destroyed, or lost.”

PART III, LINE 4:

“The foundation collection, consisting of folk art pieces, is housed at the museum of international folk art, which puts the collection on public exhibition, furthering the understanding of folk art. Pieces which are not currently on display are available to researchers and scholars.”

PART V, LINE 4:

“Endowment-related earnings are transferred to the general fund for operations.”

PART X, LINE 2:

“Tax status the foundation is exempt from income tax under section 501(c)(3) of the internal revenue code and has been determined to be an organization which is not a private foundation under section 509(a)(3). The foundation follows asc 40-10 which requires disclosure of taxable unrelated business income. None of the present or anticipated future activities of the foundation are subject to taxation as unrelated business income. Therefore, no provision for income taxes has been made in the accompanying financial statements and there are no uncertain tax positions.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Purchased collection items not capitalized 60,441. Rounding 1.”

Raw XML AppendixShowing 400 of 469 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1500
IRS990/OtherExpensesGrp/ProgramServicesAmt0787718
IRS990/OtherExpensesGrp/ProgramServicesAmt160441
IRS990/OtherExpensesGrp/TotalAmt0787718
IRS990/OtherExpensesGrp/TotalAmt160441
IRS990/OtherExpensesGrp/TotalAmt26156
IRS990/OtherExpensesGrp/TotalAmt3500
IRS990/OtherLiabilitiesGrp/BOYAmt01322
IRS990/OtherLiabilitiesGrp/EOYAmt02413
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04724
IRS990/PayrollTaxesGrp/TotalAmt04724
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt023605038
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt021800211
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0LAUREL SETH
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0CONTRACTED SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1TRAVELING EXHIBITS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt040043
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt137500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt040043
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt137500
IRS990/ProgSrvcAccomActy2Grp/Desc0COLLECTIONS CONSERVATION, MAINTENANCE, AND RECORD KEEPING - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) COLLECTION, INCLUDING OBJECTS OWNED BY THE INTERNATIONAL FOLK ART FOUNDATION (IFAF), IS THE LARGEST FOLK ART COLLECTION IN THE WORLD. CARING FOR THESE OBJECTS INCLUDES REGULAR PEST MONITORING, KEEPING DETAILED RECORDS FOR LOANS, EXHIBITIONS, AND NEW ACQUISITIONS, AND RECENTLY CONVERTING ALL RECORDS TO DIGITAL FORMS AVAILABLE ON THE MOIFA WEBSITE. THERE WERE APPROXIMATELY 225,000 VISITORS TO THE MUSEUM AND WEBSITE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0188361
IRS990/ProgSrvcAccomActy3Grp/Desc0LIBRARY AND ARCHIVES SUPPORT - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) HAS THE LARGEST INTERNATIONAL FOLK ART LIBRARY IN THE WORLD AND THE ARCHIVES ARE GROWING WITH PLANS TO FURTHER PRESERVE VIDEOS AND FIELD PHOTOGRAPHS. THE LIBRARY SERVES ALL MOIFA STAFF, DOCENTS, VOLUNTEERS AND VISITORS. APPROXIMATELY 5,000 PEOPLE BENEFITED.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0115368
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt07140
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt010000
IRS990/PYInvestmentIncomeAmt01942516
IRS990/PYOtherExpensesAmt01628563
IRS990/PYOtherRevenueAmt033732
IRS990/PYProgramServiceRevenueAmt0572906
IRS990/PYRevenuesLessExpensesAmt0850114
IRS990/PYSalariesCompEmpBnftPaidAmt067617
IRS990/PYTotalExpensesAmt01706180
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02556294
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-579711
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt077543
IRS990/RoyaltiesRevenueGrp/ExclusionAmt0112887
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt0112887
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0621250
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0956664
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE INTERNATIONAL FOLK ART FOUNDATION EXECUTIVE DIRECTOR MEETS REGULARLY WITH THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) DIRECTOR AND ASSISTANT DIRECTOR BETWEEN MEETINGS ON ISSUES CONCERNING MOIFA. THE MOIFA DIRECTOR AND ASSISTANT DIRECTOR COME TO THE REGULAR SESSION OF EACH MEETING TO UPDATE THE TRUSTEES ON NEWS AND PLANS. THEY ALSO PROVIDE A WRITTEN REPORT FOR EACH MEETING.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ONE OF THE INTERNATIONAL FOLK ART FOUNDATION'S (IFAF) MAIN FUNCTIONS IS PROVIDING MONETARY SUPPORT TO THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA), WHICH IS OWNED BY THE STATE OF NEW MEXICO. THE STATE PAYS SALARIES, SOME REPAIRS, AND UTILITIES. ALL OF THE PROGRAMS AND EXHIBITS ARE FUNDED BY CONTRIBUTIONS. IF DONATIONS ARE INSUFFICIENT, MOIFA HAS TO EITHER CUT OR REDUCE SOME OF ITS PROGRAMS. EACH YEAR, IFAF ASKS MOIFA TO SUBMIT A BUDGET REQUEST FOR MUSEUM NEEDS THAT ARE NOT FUNDED BY THE STATE, INCLUDING BUSES FOR SCHOOLCHILDREN, EXHIBIT CASES, AND RESEARCH TRIPS FOR CURATORS. THE BUDGET IS CAREFULLY MONITORED AS PART OF IFAF'S FIDUCIARY RESPONSIBLITY AND CHECKS ARE ONLY ISSUED TO PAY FOR THOSE EXPENDITURES THAT WERE IN THE APPROVED BUDGET.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION D, LINE 2
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SCHEDULE A, PART IV, SECTION E, LINE 1C
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0856000565
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0848159
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MUSEUM OF INTERNATIONAL FOLK ART
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt0848159
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01.00000
IRS990ScheduleD/CollectionUsedPreservationInd0X
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0550000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0550000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0550000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0550000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0550000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0550000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0550000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0550000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0550000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0550000
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01401
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01401
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0153529
IRS990ScheduleD/ExpensesSubtotalAmt0909010
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt093087
IRS990ScheduleD/InvestmentExpensesNotIncldAmt093087
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-1113282
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt021783663
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0F.D. BARTLETT TRUST
IRS990ScheduleD/OtherExpensesNotIncludedAmt060442
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02413
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAX
IRS990ScheduleD/RevenueNotReportedAmt0-1113282
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt093087
IRS990ScheduleD/RevenueSubtotalAmt0389741
IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION COLLECTION CONSISTS OF FOLK ART PIECES. THE FOUNDATION HAS CHOSEN NOT TO CAPITALIZE THE COLLECTION; THIS IS AN ALLOWED PRACTICE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. COLLECTION ACQUISITIONS ARE EXPENSED OUT IN THE YEAR OF PURCHASE. DONATED COLLECTION PIECES ARE ACCOUNTED FOR BY AN IN-KIND DONATION OF THE VALUE OF THE PIECE, WITH AN EQUAL AMOUNT IN THE COLLECTION ACQUISITION EXPENSE ACCOUNT. THE FOUNDATION'S COLLECTION IS HOUSED AT THE MUSEUM OF INTERNATIONAL FOLK ART IN ACCORDANCE WITH AN AGREEMENT BETWEEN THE PARTIES. THE COLLECTION IS COVERED UNDER THE RISK MANAGEMENT PROGRAM OF THE STATE OF NEW MEXICO. DURING THE YEARS ENDED JUNE 30, 2016 AND 2015, THERE WERE NO ITEMS IN THE FOUNDATION'S COLLECTION THAT WERE DAMAGED, DESTROYED, OR LOST.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION COLLECTION, CONSISTING OF FOLK ART PIECES, IS HOUSED AT THE MUSEUM OF INTERNATIONAL FOLK ART, WHICH PUTS THE COLLECTION ON PUBLIC EXHIBITION, FURTHERING THE UNDERSTANDING OF FOLK ART. PIECES WHICH ARE NOT CURRENTLY ON DISPLAY ARE AVAILABLE TO RESEARCHERS AND SCHOLARS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2ENDOWMENT-RELATED EARNINGS ARE TRANSFERRED TO THE GENERAL FUND FOR OPERATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3TAX STATUS THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN DETERMINED TO BE AN ORGANIZATION WHICH IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(3). THE FOUNDATION FOLLOWS ASC 40-10 WHICH REQUIRES DISCLOSURE OF TAXABLE UNRELATED BUSINESS INCOME. NONE OF THE PRESENT OR ANTICIPATED FUTURE ACTIVITIES OF THE FOUNDATION ARE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS AND THERE ARE NO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4PURCHASED COLLECTION ITEMS NOT CAPITALIZED 60,441. ROUNDING 1.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 1A:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART III, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt021783663
IRS990ScheduleD/TotalExpensesPerForm990Amt01062539
IRS990ScheduleD/TotalLiabilityAmt02413
IRS990ScheduleD/TotalRevenuePerForm990Amt0482828
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0-723541
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0909010
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT AN ARTIST OR CO-OP BY PAYING THEIR TRAVEL EXPENSES TO ATTEND THE FOLK ART MARKET.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0INTERNATIONAL FOLK ART ALLIANCE
IRS990ScheduleI/RecipientTable/RecipientEIN0352285824
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0404 KIVA COURT SUITE G
IRS990ScheduleI/RecipientTable/USAddress/CityNm0SANTA FE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NM
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd087505
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR AND TRUSTEES REVIEW THE RETURN VIA EMAIL PRIOR TO THE BOARD PRESIDENT'S SIGNATURE AND ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEETS AND DISCUSSES ANY POTENTIAL CONFLICTS OF INTEREST. THE DISCUSSION AND VOTE TAKES PLACE WHILE THE SUBJECT IS OUT OF THE ROOM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEETS IN EXECUTIVE SESSION AND DISCUSSES AND DETERMINES THE COMPENSATION OF THE EXECUTIVE DIRECTOR. MINUTES ARE TAKEN BY A BOARD MEMBER. THE BOARD ATTEMPTS TO FIND COMPARABLES AND THEY ARE INCLUDED DURING DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION PROVIDES COPIES OF ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST BY TELEPHONE OR IN WRITING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING 1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NM
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0169817
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0169954
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt026212119
IRS990/TotalAssetsEOYAmt024505751

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,505,751
Liabilities
$7,485
Net assets
$24,498,266
Revenue
$482,828
Expenses
$1,062,539
Net income
-$579,711
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$36.7$0.05$36.6$1.19$1.00$0.19
2023Detailed filing. Detailed filing data is available for this year.$33.6$0.04$33.6$0.88$0.83$0.05
2022Detailed filing. Detailed filing data is available for this year.$32.2$0.00$32.2$2.79$0.79$2.00
2021Detailed filing. Detailed filing data is available for this year.$38.1$0.02$38.1$0.89$0.71$0.19
2020Detailed filing. Detailed filing data is available for this year.$29.1$0.01$29.1$1.38$0.82$0.56
2019Detailed filing. Detailed filing data is available for this year.$30.1$0.00$30.1$1.34$0.78$0.57
2018Detailed filing. Detailed filing data is available for this year.$29.5$0.03$29.5$1.43$0.86$0.57
2017Detailed filing. Detailed filing data is available for this year.$27.3$0.00$27.3$0.86$1.11$0.26
2016Detailed filing. Detailed filing data is available for this year.$24.5$0.01$24.5$0.48$1.06$0.58
2015Detailed filing. Detailed filing data is available for this year.$26.2$0.02$26.2$2.56$1.71$0.85
2014Detailed filing. Detailed filing data is available for this year.$27.1$0.00$27.0$3.57$0.86$2.71
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.5$0.02$23.5$1.09$0.72$0.38
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.8$0.01$21.8$0.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$0.05$23.3$0.61
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.2$0.01$19.2$0.77