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Nonprofiteer
← FINE ARTS DISCOVERY SERIES INC

Form 990 for tax year 2023

Filed by FINE ARTS DISCOVERY SERIES INC.

Totals

Total revenue
$2,860,135
Total expenses
$3,010,777
Contributions and grants received
$128,558
Grants paid
$0
Program service revenue
$2,349,778
Investment income
$83,460
Other revenue
$298,339
Total assets, end of year
$3,300,136
Total liabilities, end of year
$1,754,608
Net assets or fund balances, end of year
$1,545,528
Program services expenses (Part IX)
$2,774,375
Management and general expenses
$138,395
Fundraising expenses
$98,007
Program service expenses (Part III)
$2,774,375

Program services were 92.1% 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.

  • 1e · Government grants (contributions)

    $86,155

  • 1f · All other contributions, gifts and grants

    $42,403

  • 1g · Noncash contributions included above

    $34,867

  • 2a · Program service revenue: SHOW REVENUE

    total $2,098,290 · related or exempt $2,098,290

  • 2b · Program service revenue: MEMBERSHIPS

    total $118,659 · related or exempt $118,659

  • 2c · Program service revenue: EQUIPMENT RENTAL

    total $85,911 · related or exempt $85,911

  • 2d · Program service revenue: FACILITY RENTAL

    total $46,050 · related or exempt $46,050

  • 2e · Program service revenue: ADVERTISING & CONSULTI

    total $868 · related or exempt $868

  • 3 · Investment income

    total $2,515 · related or exempt $2,515

  • 7a · Gross sales of assets other than inventory

    other assets $84,500

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

    other assets $3,555

  • 7c · Gain or loss

    other assets $80,945

  • 7d · Net gain or loss

    total $80,945 · related or exempt $80,945

  • 10a · Gross sales of inventory

    $250,665

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $250,665 · related or exempt $250,665

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $47,674 · related or exempt $47,674

  • 11e · Other revenue, total

    $47,674

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $184,380 · program services $147,504 · management and general $18,438 · fundraising $18,438

  • 7 · Other salaries and wages

    total $714,850 · program services $571,880 · management and general $71,485 · fundraising $71,485

  • 10 · Payroll taxes

    total $80,835 · program services $64,667 · management and general $8,084 · fundraising $8,084

  • 11c · Fees: accounting

    total $2,500 · program services $2,250 · management and general $250

  • 11g · Fees: other

    total $15,904 · program services $14,314 · management and general $1,590

  • 12 · Advertising and promotion

    total $149,242 · program services $149,242

  • 13 · Office expenses

    total $13,223 · program services $11,901 · management and general $1,322

  • 15 · Royalties

    total $17,987 · program services $16,188 · management and general $1,799

  • 16 · Occupancy

    total $51,112 · program services $46,001 · management and general $5,111

  • 20 · Interest

    total $40,577 · program services $40,577

  • 22 · Depreciation, depletion and amortization

    total $116,850 · program services $115,681 · management and general $1,169

  • 23 · Insurance

    total $103,264 · program services $103,264

  • 24a · Other expenses: ARTIST FEES

    total $960,115 · program services $960,115

  • 24b · Other expenses: IN-HOUSE PRODUCTION

    total $238,974 · program services $238,974

  • 24c · Other expenses: CREDIT CARD EXPENSE

    total $57,516 · program services $51,764 · management and general $5,752

  • 24d · Other expenses: DONATIONS INCL IN-KIND

    total $34,867 · program services $31,380 · management and general $3,487

  • 24e · All other expenses

    total $228,581 · program services $208,673 · management and general $19,908

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $946,511 · end of year $878,580

  • 4 · Accounts receivable

    beginning of year $19,672

  • 8 · Inventories for sale or use

    beginning of year $18 · end of year $682

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,793 · end of year $1,308

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

    $3,458,727

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

    $1,044,261

  • 10c · Land, buildings and equipment, net

    beginning of year $2,440,371 · end of year $2,414,466

  • 15 · Other assets

    beginning of year $2,300 · end of year $5,100

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,826 · end of year $15,393

  • 19 · Deferred revenue

    beginning of year $360,904 · end of year $427,216

  • 23 · Secured mortgages and notes payable

    beginning of year $1,333,106 · end of year $1,302,451

  • 25 · Other liabilities

    beginning of year $14,659 · end of year $9,548

  • 27 · Net assets without donor restrictions

    beginning of year $1,696,170 · end of year $1,545,528

Mission and programs · 2023

Mission

TO PROVIDE EDUCATION AND FOSTER AN APPRECIATION OF MUSIC AND THE FINE ARTS.

  • TO PROVIDE EDUCATION AND FOSTER AN APPRECIATION OF MUSIC AND THE FINE ARTS.

    Expenses $2,774,375 · Revenue $2,731,633

As filed on the 2023 return.

Listed in Part VII

  • Richard Berkowitz

    CEO AND BOARD CHAIR

    Total calculated
    $111,580
    From this org
    $111,580
    From related orgs
    $0
    Other
    $0
    Hours/week
    80

  • Catharine Berkowitz

    OFFICE MANAGER & BOARD TRE

    Total calculated
    $72,800
    From this org
    $72,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • Robert Romagno Sr

    VICE BOARD CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Christopher Kemmerer

    SECRETARY

    Total calculated
    $0
    Hours/week
    7

  • Andy Worthington

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Christina Connolly

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

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
11 December 2024
IRS schema version
2023v5.1
Source object
202413519349300811

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