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← AMERICAN CORPORATION OF THE ARTS

Form 990 for tax year 2024

Filed by AMERICAN CORPORATION OF THE ARTS.

Totals

Total revenue
$1,263,192
Total expenses
$2,077,768
Contributions and grants received
$42,160
Grants paid
$168,183
Program service revenue
$0
Investment income
$0
Other revenue
$1,221,032
Total assets, end of year
$1,155,880
Total liabilities, end of year
$1,801,849
Net assets or fund balances, end of year
-$645,969
Program services expenses (Part IX)
$168,183
Management and general expenses
$1,909,585
Fundraising expenses
$0
Program service expenses (Part III)
$168,183

Program services were 8.1% 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.

  • 1f · All other contributions, gifts and grants

    $42,160

  • 8a · Fundraising events: gross income

    $1,884,923

  • 8b · Fundraising events: direct expenses

    $663,891

  • 8c · Net income from fundraising events

    total $1,221,032 · excluded $1,221,032

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $168,183 · program services $168,183

  • 11b · Fees: legal

    total $18,000 · management and general $18,000

  • 11c · Fees: accounting

    total $1,697 · management and general $1,697

  • 11g · Fees: other

    total $181,621 · management and general $181,621

  • 12 · Advertising and promotion

    total $6,904 · management and general $6,904

  • 13 · Office expenses

    total $59,060 · management and general $59,060

  • 16 · Occupancy

    total $107,750 · management and general $107,750

  • 17 · Travel

    total $27,040 · management and general $27,040

  • 23 · Insurance

    total $1,168 · management and general $1,168

  • 24a · Other expenses: OH ALLOCATION - SALARIE

    total $611,251 · management and general $611,251

  • 24b · Other expenses: OH ALLOCATION - G&A

    total $592,367 · management and general $592,367

  • 24c · Other expenses: HOSPITALITY

    total $192,951 · management and general $192,951

  • 24d · Other expenses: INTERPRETER

    total $69,500 · management and general $69,500

  • 24e · All other expenses

    total $40,276 · management and general $40,276

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,684,444 · end of year $951,210

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

    $138,950

  • 10c · Land, buildings and equipment, net

    beginning of year $138,950 · end of year $138,950

  • 15 · Other assets

    beginning of year $290,333 · end of year $65,720

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,986 · end of year $20,508

  • 25 · Other liabilities

    beginning of year $1,913,134 · end of year $1,781,341

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $168,607 · end of year -$645,969

Mission and programs · 2024

Mission

THE PURPOSE OF THE AMERICAN CORPORATION OF THE ARTS IS TO RAISE AND DISTRIBUTE FUNDS TO FURTHER THE CULTURAL AND ARTISTIC AWARENESS OF THE GENERAL PUBLIC.

  • AIDS YOUTH THEATRE DEVELOPMENT

    Expenses $168,183 · Grants $168,183

As filed on the 2024 return.

Listed in Part VII

  • James L Nederlander

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • James R Ewing

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

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

Provenance

Return type
form_990
Tax year
2024
Filed
16 April 2025
IRS schema version
2024v5.1
Source object
202511069349300231

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