2024-05-15T16:26:27-05:00 2023-06-30 721396621 CARR RIGGS & INGRAM LLC 807 CAMINO DE MONTE REY SANTA FE NM 87505 990 2022-07-01 856000853 INTERNATIONAL FOLK ART FOUNDATION INTE 5059832612 PO BOX 8807 SANTA FE NM 875048807 LAUREL SETH EXECUTIVE DIRECTOR 5059832612 2024-05-15 1 LAUREL SETH 999009999 0 RHONDA G WILLIAMS P00527004 5059833387 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LAUREL SETH PO BOX 8807 SANTA FE NM 875048807 880247 0 X N/A X 1951 NM TO BROADEN THE STUDY OF FOLK ART IN ORDER TO PROMOTE A BETTER UNDERSTANDING OF ALL CULTURES. 9 9 1 9 0 0 25000 40250 0 743 2759956 837308 1050 1946 2786006 880247 0 10000 0 0 87659 90906 0 0 0 697872 724996 785531 825902 2000475 54345 32176768 33617186 3701 38533 32173067 33578653 X TO PROVIDE FINANCIAL ASSISTANCE TO THE MUSEUM OF INTERNATIONAL FOLK ART AND FURTHER THE UNDERSTANDING OF FOLK ART AS IT RELATES TO THE PEOPLE OF THE WORLD. 0 0 383877 743 THE INTERNATIONAL FOLK ART FOUNDATION (IFAF) GAVE SUPPORT TO PRODUCE EXHIBITIONS AT THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA), INCLUDING PUBLICATIONS. THERE WERE APPROXIMATELY 90,000 VISITORS DURING THE FISCAL YEAR. 63980 COLLECTIONS CONSERVATION, MAINTENANCE, PROCESSING AND RECORD KEEPING - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) COLLECTION, INCLUDING OBJECTS OWNED BY THE INTERNATIONAL FOLK ART FOUNDATION (IFAF), IS THE LARGEST FOLK ART COLLECTION IN THE WORLD. CARING FOR THESE OBJECTS INCLUDES REGULAR PEST MONITORING, KEEPING DETAILED RECORDS FOR LOANS, EXHIBITIONS, AND NEW ACQUISITIONS, AND RECENTLY CONVERTING ALL RECORDS TO DIGITAL FORMS AVAILABLE ON THE MOIFA WEBSITE. THERE WERE APPROXIMATELY 60,000 VISITORS TO THE WEBSITE AND SOCIAL MEDIA. 147153 LIBRARY AND ARCHIVES SUPPORT - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) HAS THE LARGEST INTERNATIONAL FOLK ART LIBRARY IN THE WORLD AND THE ARCHIVES ARE GROWING WITH PLANS TO FURTHER PRESERVE VIDEOS AND FIELD PHOTOGRAPHS. THE LIBRARY SERVES ALL MOIFA STAFF, DOCENTS, VISITORS, AND SCHOLARS. APPROXIMATELY 25,000 VISITORS ACCESSED LIBRARY RESOURCES ONLINE OR VISITED IN PERSON. 44785 10000 EDUCATION AND OUTREACH TO SCHOOL GROUPS, DOCENT TOURS AND OTHER TOURS IN PERSON, ONLINE AND THROUGH SOCIAL MEDIA. THERE WERE APPROXIMATELY 30,000 VISITORS TO THE WEBSITE AND 90,000 VISITORS IN PERSON, INCLUDING SCHOOL GROUPS. THE FOUNDATION COLLECTION, CONSISTING OF FOLK ART PIECES, IS HOUSED AT THE MUSEUM OF INTERNATIONAL FOLK ART, WHICH PUTS THE COLLECTON ON PUBLIC EXHIBITION, FURTHERING THE UDNERSTANDING OF FOLK ART. PIECES WHICH ARE NOT CURRENTLY ON DISPLAY ARE AVAILABLE TO RESEARCHERS AND SCHOLARS. 44785 10000 639795 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NM X X LAUREL SETH 5059832612 1121 PASEO DE PERALTA SANTA FE NM 87501 LAUREL SETH EXECUTIVE DIRECTOR 40.00 X 77499 0 7500 JULIA CATRON PRESIDENT 8.00 X X 0 0 0 DAVID DAVENPORT VICE PRESIDENT 4.00 X X 0 0 0 ROSALIND DOHERTY SECRETARY 4.00 X X 0 0 0 DAVID MATTHEWS TREASURER 4.00 X X 0 0 0 RANDALL BELL MEMBER 4.00 X 0 0 0 JOHN DRAPER MEMBER 4.00 X 0 0 0 EDELMA HUNTLEY MEMBER (BEGINNING AUG 2022) 4.00 X 0 0 0 LISA MAYER MEMBER 4.00 X 0 0 0 ROBERTA SYME MEMBER 4.00 X 0 0 0 77499 0 7500 0 0 0 0 0 40000 250 40250 LICENSING INCOME 611710 743 743 743 691341 691341 1946 1946 145967 0 145967 145967 145967 880247 0 0 839997 10000 10000 82000 82000 2706 2706 6200 6200 49933 49933 21046 21046 7628 7628 15107 15107 SUPPORT FOR MUSEUM OF I 629795 629795 TRUSTEE EXPENSE 1487 1487 825902 639795 186107 0 -5 111734 195790 40000 3746 2708 1401 1401 0 0 5633473 6286354 26427820 27092334 32176768 33617186 3474 38225 227 308 3701 38533 X 4973177 4605514 27199890 28973139 32173067 33578653 32176768 33617186 54345 1351241 0 X 0 0 0 X X 1 MUSEUM OF INTERNATIONAL FOLK ART 856000565 6 1 639795 0 1 639795 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 X SCHEDULE A, PART IV, SECTION D, LINE 2 THE EXECUTIVE DIRECTOR MEETS AT LEAST MONTHLY WITH THE MUSEUM DIRECTOR AND FINANCE STAFF. THE MUSEUM DIRECTOR ATTENDS AND REPORTS AT THE REGULAR IFAF MEETINGS. SCHEDULE A, PART IV, SECTION E, LINE 1C THE ANNUAL BUDGET REQUEST FROM THE MUSEUM UNDERGOES A RIGOROUS BUDGET APPROVAL PROCESS LINE BY LINE EACH JUNE. THE EXECUTIVE DIRECTOR REVIEWS ALL EXPENDITURES AGAINST THE APPROVED BUDGET AND ALL CHECKS REQUIRE A DUAL SIGNATURE OF THE EXECUTIVE DIRECTOR AND A TRUSTEE. SCHEDULE A, PART IV, SECTION E, LINE 1C FUNDING OF PROJECTS AT MUSEUM OF INTERNATIONAL FOLK ART ARE APPROVED IN THE ANNUAL BUDGET PROCESS AND INCLUDE EDUCATIONAL PROGRAMS, EXHIBITS, PUBLICATION, AND OUTREACH EFFORTS. IFAF IS A FUNDING AGENT ONLY. IFAF ALSO ACTS AS A PASS-THROUGH FOR GOVERNMENT AND PRIVATE GRANTS WHEN NEEDED FOR APPROVED MUSEUM PROJECTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 550000 550000 550000 550000 550000 550000 550000 550000 550000 550000 1.00000 1 0 1401 1401 0 0 F.D. BARTLETT TRUST 27092334 27092334 PAYROLL LIABILITIES 308 308 X PART III, LINE 4: THE FOUNDATION COLLECTION, CONSISTING OF FOLK ART PIECES, IS HOUSED AT THE MUSEUM OF INTERNATIONAL FOLK ART, WHICH PUTS THE COLLECTION ON PUBLIC EXHIBITION, FURTHERING THE UNDERSTANDING OF FOLK ART. PIECES WHICH ARE NOT CURRENTLY ON DISPLAY ARE AVAILABLE TO RESEARCHERS AND SCHOLARS. PART V, LINE 4: ENDOWMENT-RELATED EARNINGS ARE TRANSFERRED TO THE GENERAL FUND FOR OPERATIONS. PART X, LINE 2: INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE FOUNDATION IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. HOWEVER, TAXES ON UNRELATED BUSINESS INCOME, IF ANY, ARE REPORTED WHEN PAID. THE FOUNDATION DID NOT INCUR TAXES ON UNRELATED BUSINESS INCOME IN 2023 OR 2022. THE FOUNDATION UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF JUNE 30, 2023 AND 2022, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 0 INTERNATIONAL FOLK ART ALLIANCE 630 CERRILLOS ROAD SANTA FE NM 87505 352285824 509(A)(2) 10000 0 ARTIST SUPPORT FOR THE 2023 FOLK ART MARKET IN SANTA FE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND PROVIDED TO TRUSTEES UPON FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEETS AND DISCUSSES ANY POTENTIAL CONFLICTS OF INTEREST. THE DISCUSSION AND VOTE TAKES PLACE WHILE THE SUBJECT IS OUT OF THE ROOM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD MEETS IN EXECUTIVE SESSION AND DISCUSSES AND DETERMINES THE COMPENSATION OF THE EXECUTIVE DIRECTOR. MINUTES ARE TAKEN BY A BOARD MEMBER. THE BOARD ATTEMPTS TO FIND COMPARABLES AND THEY ARE INCLUDED DURING DISCUSSION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION PROVIDES COPIES OF ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST BY TELEPHONE OR IN WRITING.