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Nonprofiteer
← INTERNATIONAL FOLK ART ALLIANCE INC

Form 990 for tax year 2023

Filed by INTERNATIONAL FOLK ART ALLIANCE INC.

Totals

Total revenue
$2,406,701
Total expenses
$2,362,088
Contributions and grants received
$1,179,117
Grants paid
$0
Program service revenue
$1,138,982
Investment income
$120,724
Other revenue
-$32,122
Total assets, end of year
$7,751,961
Total liabilities, end of year
$92,735
Net assets or fund balances, end of year
$7,659,226
Program services expenses (Part IX)
$1,899,707
Management and general expenses
$200,844
Fundraising expenses
$261,537
Program service expenses (Part III)
$1,899,707

Program services were 80.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $20,000

  • 1f · All other contributions, gifts and grants

    $1,159,117

  • 1g · Noncash contributions included above

    $69,456

  • 2a · Program service revenue: HANDLING FEE

    total $632,884 · related or exempt $632,884

  • 2b · Program service revenue: TICKET SALES

    total $358,382 · related or exempt $358,382

  • 2c · Program service revenue: BOOTH REVENUE

    total $147,716 · related or exempt $147,716

  • 3 · Investment income

    total $112,002 · excluded $112,002

  • 7a · Gross sales of assets other than inventory

    securities $412,000

  • 7b · Less cost or other basis and sales expenses

    securities $403,278

  • 7c · Gain or loss

    securities $8,722

  • 7d · Net gain or loss

    total $8,722 · excluded $8,722

  • 10a · Gross sales of inventory

    $23,636

  • 10b · Cost of goods sold

    $55,868

  • 10c · Net income from sales of inventory

    total -$32,232 · excluded -$32,232

  • 11a · Other revenue: MISC INCOME

    total $110 · related or exempt $110

  • 11e · Other revenue, total

    $110

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $121,562 · program services $74,175 · management and general $34,211 · fundraising $13,176

  • 7 · Other salaries and wages

    total $389,085 · program services $256,716 · management and general $69,286 · fundraising $63,083

  • 8 · Pension plan contributions

    total $10,383 · program services $6,872 · management and general $1,804 · fundraising $1,707

  • 9 · Other employee benefits

    total $20,042 · program services $13,490 · management and general $3,014 · fundraising $3,538

  • 10 · Payroll taxes

    total $46,078 · program services $29,913 · management and general $9,224 · fundraising $6,941

  • 11b · Fees: legal

    total $7,705 · program services $6,824 · management and general $396 · fundraising $485

  • 11c · Fees: accounting

    total $74,270 · program services $65,782 · management and general $3,815 · fundraising $4,673

  • 11g · Fees: other

    total $430,358 · program services $346,039 · management and general $44,211 · fundraising $40,108

  • 14 · Information technology

    total $91,911 · program services $83,585 · management and general $952 · fundraising $7,374

  • 16 · Occupancy

    total $170,404 · program services $152,099 · management and general $8,827 · fundraising $9,478

  • 22 · Depreciation, depletion and amortization

    total $126,627 · program services $92,960 · management and general $15,791 · fundraising $17,876

  • 23 · Insurance

    total $14,176 · program services $12,179 · management and general $1,141 · fundraising $856

  • 24a · Other expenses: PROGRAM EXPENSES

    total $778,454 · program services $695,937 · management and general $2,921 · fundraising $79,596

  • 24b · Other expenses: BANKING

    total $70,122 · program services $55,785 · management and general $2,190 · fundraising $12,147

  • 24c · Other expenses: MISC. EXPENSE

    total $7,159 · program services $4,117 · management and general $3,042

  • 24d · Other expenses: IN-KIND GOODS

    total $3,752 · program services $3,234 · management and general $19 · fundraising $499

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,042,793 · end of year $1,000,714

  • 3 · Pledges and grants receivable

    beginning of year $164,785 · end of year $105,786

  • 8 · Inventories for sale or use

    beginning of year $161,353 · end of year $176,660

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,317 · end of year $23,029

  • 10a · Land, buildings and equipment: cost or other basis

    $4,176,254

  • 10b · Land, buildings and equipment: accumulated depreciation

    $811,367

  • 10c · Land, buildings and equipment, net

    beginning of year $3,271,655 · end of year $3,364,887

  • 11 · Investments: publicly traded securities

    beginning of year $1,640,525 · end of year $2,896,133

  • 15 · Other assets

    beginning of year $225,083 · end of year $184,752

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,496 · end of year $40,557

  • 25 · Other liabilities

    beginning of year $91,007 · end of year $52,178

  • 27 · Net assets without donor restrictions

    beginning of year $5,568,267 · end of year $5,939,714

  • 28 · Net assets with donor restrictions

    beginning of year $1,818,741 · end of year $1,719,512

Mission and programs · 2023

Mission

CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION MOVED TO A LARGER HEADQUARTERS, INVESTING IN TENANT IMPROVEMENTS AS THE FIRST PHASE OF A CAMPAIGN TO OWN THE BUILDING OUTRIGHT.

Activities or mission (Part I)

ORGANIZATION'S MISSION: CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION PURCHASED THE HEADQUARTERS BUILDING.

  • INTERNATIONAL FOLK ART MARKET: PRODUCING INTERNATIONAL FOLK ART MARKET AS A PROGRAMMATIC OUTCOME OF HIGHLY CURATED ARTIST SELECTION AND ENTREPRENEURISM EDUCATION. IN 2023, IFAA WAS ABLE TO RETURN TO NORMAL OPERATIONS, WITH VERY FEW HEALTH ORDER DRIVEN MODIFICATIONS. THE ORGANIZATION WAS STILL IN A FINANCIAL AND OPERATIONAL REBUILDING PHASE THOUGH. THE ORGANIZATION MOVED THE EVENT TO A NEW VENUE: RAILYARD PARK, A MORE CENTRALLY LOCATED VENUE.

    Expenses $1,840,719 · Revenue $1,082,779

  • THE IFAM COLLECTION AT DALLAS MARKET CENTER: EXPANDING OPPORTUNITIES FOR ARTISANS BY OFFERING ADVANCED ENTREPRENEURISM EDUCATION, INCLUDING SOCIAL ENTERPRISE MODELS AND IN-COUNTRY CURRICULUM DELIVERY, AND SALES VENUES, INCLUDING WHOLESALE AND VIRTUAL CHANNELS. THIS WAS NOT PROVIDED IN 2021 HOWEVER THE MARKET IN THE DALLAS MARKET CENTER RESUMED IN 2022 AND CONTINUED IN 2023.

    Expenses $26,764 · Revenue $56,313

  • MENTOR TO MARKET (M2M): TRAINING PROGRAM THAT TEACHES ARTISTS CRITICAL MARKETING AND BUSINESS SKILLS TO HELP THEM IMPROVE THEIR SALES, THUS SUSTAINING THEIR TRADITIONS AND CREATING STRONGER ECONOMY FOR THEMSELVES AND THEIR COMMUNITIES. IN 2021, THESE TRAINING PROGRAMS CONTINUED ONLINE BUT RETURNED TO IN-PERSON TRAINING IN 2022. IN 2023, A NEW PILOT CURRICULUM WAS DEVELOPED AND TESTED WITH A SMALL NUMBER OF ARTISTS WITH A PLAN FOR A BROADER IMPLEMENTATION IN 2024/2025.

    Expenses $21,465

  • FOLK ART MATTERS LECTURES: PROMOTING CULTURAL EXCHANGE BY PROVIDING THE GENERAL PUBLIC OPPORTUNITIES TO LEARN ABOUT INTERNATIONAL FOLK ART AS A TRANSMISSION OF METHODS, MATERIALS AND TECHNIQUES PASSED ON THROUGH GENERATIONS. IFAA RETURNED TO A MORE ROBUST SCHEDULE OF LECTURES AND WORKSHOPS IN 2023. LECTURES WERE FREE TO THE PUBLIC AND A SMALL MATERIALS FEE WAS CHARGED FOR WORKSHOPS.

    Expenses $10,759

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Hank Coleman

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Leigh Ann Brown

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Nancy Bern

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lisa Adelman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cathy Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Ahmad

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amanda Alexander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Bennett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marty Braniff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anne Chognard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elaine Cole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Devendra Contractor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Domenici

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Durkovich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ardith Eicher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Philip Fimmano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Garcia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maggie Hanson-Muse

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Horowitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gurmeet Kaur

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Kimball

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • Antonio Lopez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Mindling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Mullins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Makenzie Mueller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Judith Pelham

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Helena Ribe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Courtney Taylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charlotte Whitmore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Mann End 072024

    CEO

    Total calculated
    $121,562
    From this org
    $105,891
    From related orgs
    $0
    Other
    $15,671
    Hours/week
    40

  • Joni Parman Began 072024

    INTERIM CEO

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202433069349302268

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