Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,319,264

• 1e · Government grants (contributions)

  $100,397

• 1f · All other contributions, gifts and grants

  $2,607,508

• 2a · Program service revenue: TUITION

  total $5,399,200 · related or exempt $5,399,200

• 2b · Program service revenue: EVENT RENTAL

  total $1,224,202 · related or exempt $1,224,202

• 2c · Program service revenue: MEMBERSHIP FEES

  total $311,081 · related or exempt $311,081

• 2d · Program service revenue: TICKET SALES

  total $162,548 · related or exempt $162,548

• 3 · Investment income

  total $413,007 · unrelated business $220,721 · excluded $192,286

• 6a · Gross rents

  real property $1,192,488

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,192,488

• 6d · Net rental income or loss

  total $1,192,488 · excluded $1,192,488

• 7a · Gross sales of assets other than inventory

  securities $15,671,000

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

  securities $15,233,331

• 7c · Gain or loss

  securities $437,669

• 7d · Net gain or loss

  total $437,669 · excluded $437,669

• 8a · Fundraising events: gross income

  $134,620

• 8a · Fundraising events: contributions included on line 1c

  $1,319,264

• 8b · Fundraising events: direct expenses

  $134,620

• 8c · Net income from fundraising events

  total $0

• 10a · Gross sales of inventory

  $84,984

• 10b · Cost of goods sold

  $43,818

• 10c · Net income from sales of inventory

  total $41,166 · excluded $41,166

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $114,530 · excluded $114,530

• 11b · Other revenue: CURRENCY LOSS

  total -$859 · excluded -$859

• 11e · Other revenue, total

  $113,671

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $896,280 · program services $757,576 · management and general $50,273 · fundraising $88,431

• 7 · Other salaries and wages

  total $5,192,586 · program services $4,523,914 · management and general $82,211 · fundraising $586,461

• 8 · Pension plan contributions

  total $59,540 · program services $44,399 · management and general $8,789 · fundraising $6,352

• 9 · Other employee benefits

  total $1,001,713 · program services $744,304 · management and general $148,678 · fundraising $108,731

• 10 · Payroll taxes

  total $420,615 · program services $313,652 · management and general $62,092 · fundraising $44,871

• 11b · Fees: legal

  total $48,717 · program services $39,491 · management and general $4,496 · fundraising $4,730

• 11c · Fees: accounting

  total $65,204 · program services $52,856 · management and general $6,017 · fundraising $6,331

• 11g · Fees: other

  total $557,397 · program services $451,839 · management and general $51,437 · fundraising $54,121

• 12 · Advertising and promotion

  total $284,007 · program services $277,537 · management and general $2,845 · fundraising $3,625

• 13 · Office expenses

  total $833,376 · program services $698,516 · management and general $37,026 · fundraising $97,834

• 14 · Information technology

  total $206,598 · program services $179,212 · management and general $15,130 · fundraising $12,256

• 16 · Occupancy

  total $148,117 · program services $148,117

• 17 · Travel

  total $490,862 · program services $389,271 · management and general $4,638 · fundraising $96,953

• 20 · Interest

  total $1,148,268 · management and general $1,148,268

• 22 · Depreciation, depletion and amortization

  total $1,229,974 · program services $719,535 · management and general $491,989 · fundraising $18,450

• 23 · Insurance

  total $251,907 · program services $213,806 · management and general $21,252 · fundraising $16,849

• 24a · Other expenses: EQUIPMENT RENTAL AND MA

  total $809,199 · program services $721,559 · management and general $39,858 · fundraising $47,782

• 24b · Other expenses: RECEPTION AND CATERING

  total $508,267 · program services $285,089 · management and general $7,706 · fundraising $215,472

• 24c · Other expenses: PRODUCTION AND ATTRACTI

  total $289,684 · program services $158,623 · management and general $24 · fundraising $131,037

• 24d · Other expenses: ARTISTIC FEES

  total $222,605 · program services $194,507 · fundraising $28,098

• 24e · All other expenses

  total $123,562 · program services $113,923 · management and general $387 · fundraising $9,252

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,076,427 · end of year $478,114

• 2 · Savings and temporary cash investments

  beginning of year $3,953 · end of year $3,807

• 3 · Pledges and grants receivable

  beginning of year $1,033,771 · end of year $1,416,776

• 4 · Accounts receivable

  beginning of year $243,213 · end of year $241,384

• 8 · Inventories for sale or use

  beginning of year $47,691 · end of year $47,593

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,857,136 · end of year $2,018,937

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

  $37,091,602

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

  $26,578,530

• 10c · Land, buildings and equipment, net

  beginning of year $10,590,799 · end of year $10,513,072

• 11 · Investments: publicly traded securities

  beginning of year $10,757,865 · end of year $9,912,969

• 12 · Investments: other securities

  beginning of year $2,055,715 · end of year $1,991,018

• 15 · Other assets

  beginning of year $902,090 · end of year $1,113,041

• 17 · Accounts payable and accrued expenses

  beginning of year $1,165,626 · end of year $1,227,096

• 19 · Deferred revenue

  beginning of year $1,549,192 · end of year $1,667,706

• 23 · Secured mortgages and notes payable

  beginning of year $15,952,620 · end of year $16,600,000

• 25 · Other liabilities

  beginning of year $786,383 · end of year $700,443

• 27 · Net assets without donor restrictions

  beginning of year $1,147,925 · end of year $120,611

• 28 · Net assets with donor restrictions

  beginning of year $7,966,914 · end of year $7,420,855

The filer's explanations (Part III)

PART I, LINE 6

FIAF'S PRESIDENT IS ELIGIBLE TO RECEIVE EACH CALENDAR YEAR A PERFORMANCE-BASED BONUS AS DETERMINED BY THE BOARD BASED ON THE ACHIEVEMENT OF ESTABLISHED GOALS OF THE ORGANIZATION. DURING 2023, THE PRESIDENT HAD RECEIVED A BONUS.

PART I, LINE 7

FIAF PAYS DISCRETIONARY BONUSES TO CERTAIN EMPLOYEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• 22 EAST 60 LLC

  REAL ESTATE · DE · income $3,261,744 · assets $27,272,867

  Directly controlled by FIAF