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Madi World Art Foundation

IRS exemption revoked

Dallas, TXUnknown exempt organization EIN 75-2950156Revenue $138K in FY2020

On file with the IRS3109 Carlisle Street · Dallas, TX

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Mission is to exhibit MADI and related styles of 20th and 21st century geometric art. This art is abstract, geometric, hard-edged, and often has kinetic or optical features. The Museum has a permanent collection and holds four temporary exhibits yearly, some of international and others of regional artists. Six to eight Arcadia Salon

91¢ of each $1 spent went to programs.
Run by 11 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$138K
Spent
$122K
To programs
91%
Net assets
$1.3M

From the FY2020 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $111K Management & general 8% · $9K Fundraising 1% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Evan Stone
Vice President Gala Committee
$0Pt VII · Sec A
Wilmer D Masterson
Secretary/Bldg Committee
$0Pt VII · Sec A
Willian Irwin
Treasurer
$0Pt VII · Sec A
Phillip Collins
Nominating Committee
$0Pt VII · Sec A
Ruth Anderson
Membership & Exhibtion Comm.
$0Pt VII · Sec A
$0Pt VII · Sec A
Laurel Chooljian
Co Chair Gala Committee
$0Pt VII · Sec A
See Madi World Art Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Showcases abstract, geometric art from the 20th and 21st centuries through exhibits and a permanent collection.

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Provided by the organization

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1 program · $111K · in their own filed words · FY2020
01

The MADI World Art Foundation provides art exhibits, art education and art outreach programs to the residents of Dallas, Texas and surrounding communities.

$111Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
The Aca Family FoundationFY2021$50K
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$138K
Ln 12
Gifts and grantsLn 1h$134K
Fees for servicesLn 2g$4K
Money outPt IX
$122K
Ln 25
Programscol B$111K
Managementcol C$9K
Fundraisingcol D$2K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$18K
Total assetsLn 16$1.3M
LiabilitiesLn 26$0
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$134K
Government grantsLn 1e$23K
Fundraising eventsLn 1c$11K
Fees for servicesLn 2g$4K
Total revenueLn 12$138K
Assets in detailPt X, end of year
CashLn 1$18K
Cash and savings togetherLn 1–2$18K
Other assetsLn 15$1.2M
Total assetsLn 16$1.3M
LiabilitiesLn 26$0
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 52
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$15K$18K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$38K$38K$0$0
Payroll taxesLn 10$2K$2K$0$0
Accounting feesLn 11c$1K$0$1K$0
OccupancyLn 16$58K$53K$3K$2K
InsuranceLn 23$3K$1K$1K$0
Other expenses (24a–d)Ln 24$9K$5K$4K$0
All other expensesLn 24e$13K$13K$0$83
Total functional expensesLn 25$122K$111K$9K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $138K$122K$16K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $138,334 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $321,006$134,131
I-9 Program service revenuePrior year $24,503$4,203
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $345,509$138,334
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $51,918$39,224
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $123,631$83,148
I-18 Total expensesPrior year $175,549$122,372
I-19 Revenue less expensesPrior year $169,960$15,962
Part VI · Governance 10 of 10 board members independent, 5 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $138,334 across 8 lines filed
VIII-1b Membership dues$15,290
VIII-1c Fundraising events$11,145
VIII-1d Related organizations$0
VIII-1e Government grants$22,624
VIII-1f All other contributions, gifts and grants$85,072
VIII-1h Total contributions, gifts and grants$134,131
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$4,203
VIII-12 Total revenueRelated to mission $4,203 · Unrelated business $0 · Excluded from tax $0$138,334
Part IX · Statement of functional expenses $122,372 across 7 lines filed
IX-7 Other salaries and wagesPrograms $37,680 · Management $0 · Fundraising $0$37,680
IX-10 Payroll taxesPrograms $1,544 · Management $0 · Fundraising $0$1,544
IX-11c Accounting feesPrograms $0 · Management $1,375 · Fundraising $0$1,375
IX-16 OccupancyPrograms $52,992 · Management $2,880 · Fundraising $1,728$57,600
IX-23 InsurancePrograms $1,380 · Management $1,381 · Fundraising $0$2,761
IX-24 Other expenses (24a–d)Programs $5,184 · Management $3,585 · Fundraising $0$8,769
IX-24e All other expensesPrograms $12,560 · Management $0 · Fundraising $83$12,643
IX-25 Total functional expensesPrograms $111,340 · Management $9,221 · Fundraising $1,811$122,372
Part X · Balance sheet $1,302,555 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $14,647$17,509
X-8 Inventories for sale or useStart of year $91,455$91,455
X-15 Other assetsStart of year $1,180,491$1,193,591
X-16 Total assetsStart of year $1,286,593$1,302,555
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,286,593$1,302,555
X-32 Total net assets or fund balancesStart of year $1,286,593$1,302,555
X-33 Total liabilities and net assetsStart of year $1,286,593$1,302,555
Part XI · Reconciliation of net assets $1,302,555 net assets at year end
XI-1 Total revenue$138,334
XI-2 Total expenses$122,372
XI-3 Revenue less expenses$15,962
XI-4 Net assets at start of year$1,286,593
XI-10 Net assets at end of year$1,302,555

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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