The Fine Arts Foundation FY2020 filing

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Our mission is to make the Arts available for people so that they can appreciate their cultural value and influence. Our main emphasis is on "folk art" as expressed in music and cultural traditions, especially in the celtic and brittish isles tradition. We also have a special emphasis on assisting students and specially challenge individuals wanting to improve culturally. We support individuals and organizations providing basic assistance to such persons in order to provide a Foundation on which cultural advancement may progress.

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $18K a year · 26% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
58 mo
of spending, in cash
Looks good: 57.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$22K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$124K
Spent
$27K
To programs
60%
Net assets
$108K
By yearFY2020–FY2024
Revenue
$124K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$124K
FY2021$122K
FY2022$48K
FY2023$36K
FY2024$14K
Expenses
$27K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$27K
FY2021$97K
FY2022$47K
FY2023$46K
FY2024$38K
Net assets
$108K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$108K
FY2021$133K
FY2022$156K
FY2023$147K
FY2024$122K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1984.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $16K Management & general 40% · $11K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Historian
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2021
James P Arnold$4,600$13,800

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Fine Arts Foundation executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes folk arts, especially Celtic music and traditions, for cultural appreciation and student enrichment.

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3 programs · $16K · in their own filed words · FY2020
01

Cultural Studies

Research and presentations on aspects of culture, including music, art, religion and history. Presented in groups and in personal consultation through lectures and internet. Special emphasis on JEWISH/CHRISTIAN music literature, and culture. Educational outreach to texas students on native american folk art and tradition.

$6Kprogram expense
02

Cultural Education and Mentoring

Counseling and mentoring provided for those aspiring to improve culturally. We include a concern for specially challenged aspirants. Specially challenged, but gifted, individuals are mentored so that thier abilities are nutured and developed socially and culturally, especially by "kinesthetic learning", through movement and sports.

$6Kprogram expense
03

Performance Education Projects

The foundation library provided drama, speech, and music performance designed to enhance the appreciation of american folk art and cuture with an early emphasis on early american folk tales and biblical interpretations. Guidance and direction were provided for the study of biblical music, and well as celtic and native american cultures.

$4Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 15 grants · $174K · 2020–2024

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$124K
Ln 12
Gifts and grantsLn 1h$63K
Other incomeLn 4–11$61K
Money outPt IX
$27K
Ln 25
Programscol B$16K
Managementcol C$11K
Owns and owesPt X
$108K
net assets · Ln 32
Cash and savingsLn 1–2$130K
Total assetsLn 16$130K
LiabilitiesLn 26$22K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$63K
Other incomeLn 4–11$61K
Total revenueLn 12$124K
Assets in detailPt X, end of year
CashLn 1$130K
Cash and savings togetherLn 1–2$130K
Total assetsLn 16$130K
LiabilitiesLn 26$22K
Net assetsLn 32$108K
OperationsPt I, VI
EmployeesI 50
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$12K$130K
Total assetsLn 16$12K$130K
LiabilitiesLn 26$0$22K
Net assetsLn 32$12K$108K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10K$10K
Grants to domestic individualsLn 2$5K$5K
Management feesLn 11a$10K$10K
Other fees for servicesLn 11g$2K$1K$820
Total functional expensesLn 25$27K$16K$11K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 13, 2025 $14K$38K−$24K$122K 990 PDF
FY2023Filed with the IRS Nov 11, 2024 $36K$46K−$10K$147K 990 PDF
FY2022Filed with the IRS Nov 13, 2023 $48K$47K$1K$156K 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $122K$97K$25K$133K 990 PDF
FY2020 ViewingFiled with the IRS Nov 8, 2021 $124K$27K$97K$108K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $123,640 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $46,307$62,858
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $15,506$60,782
I-12 Total revenuePrior year $61,813$123,640
I-13 Grants and similar amounts paidPrior year $6,000$15,144
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $45,602$11,895
I-18 Total expensesPrior year $51,602$27,039
I-19 Revenue less expensesPrior year $10,211$96,601
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $123,640 across 3 lines filed
Lines not itemized here account for $60,782 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$62,858
VIII-1h Total contributions, gifts and grants$62,858
VIII-12 Total revenueRelated to mission $56,215 · Unrelated business $4,567$123,640
Part IX · Statement of functional expenses $27,039 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $10,050$10,050
IX-2 Grants to domestic individualsPrograms $5,094$5,094
IX-11a Management feesManagement $9,900$9,900
IX-11g Other fees for servicesPrograms $1,175 · Management $820$1,995
IX-25 Total functional expensesPrograms $16,319 · Management $10,720 · Fundraising $0$27,039
Part X · Balance sheet $130,236 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $11,635$130,236
X-16 Total assetsStart of year $11,635$130,236
X-24 Unsecured notes and loans payable$22,000
X-26 Total liabilitiesStart of year $0$22,000
X-27 Net assets without donor restrictionsStart of year $11,635$108,236
X-32 Total net assets or fund balancesStart of year $11,635$108,236
X-33 Total liabilities and net assetsStart of year $11,635$130,236
Part XI · Reconciliation of net assets $108,236 net assets at year end
XI-1 Total revenue$123,640
XI-2 Total expenses$27,039
XI-3 Revenue less expenses$96,601
XI-4 Net assets at start of year$11,635
XI-10 Net assets at end of year$108,236

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

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