2025-11-12T17:50:07-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 6501 AMERICAS PARKWAY NE SUITE 500 ALBUQUERQUE NM 87110 990 2024-01-01 352285824 INTERNATIONAL FOLK ART ALLIANCE INC DBA IFAM INTE 5059927600 620 CERRILLOS ROAD SANTA FE NM 87505 HELENA RIBE CHAIR 5059927600 2025-11-12 1 1 JESSICA LOCKER CPA P01367046 5058428290 2025-11-12 2024 2025-03-06 01:10:19Z IFAM FRANCIS COLEMAN 620 CERRILLOS ROAD SANTA FE NM 87505 3378676 0 X WWW.FOLKARTMARKET.ORG X 2006 NM CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION PURCHASED THE HEADQUARTERS BUILDING. 28 28 14 1400 0 0 1179117 1722603 1138982 1140405 120724 150580 -32122 -3702 2406701 3009886 0 0 0 0 587150 940211 0 0 377539 1774938 1924257 2362088 2864468 44613 145418 7751961 8145589 92735 84220 7659226 8061369 X CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION MOVED TO A LARGER HEADQUARTERS, INVESTING IN TENANT IMPROVEMENTS AS THE FIRST PHASE OF A CAMPAIGN TO OWN THE BUILDING OUTRIGHT. 0 1 2150708 0 1137238 INTERNATIONAL FOLK ART MARKET: PRODUCING INTERNATIONAL FOLK ART MARKET AS A PROGRAMMATIC OUTCOME OF HIGHLY CURATED ARTIST SELECTION AND ENTREPRENEURISM EDUCATION. IN 2023, IFAA WAS ABLE TO RETURN TO NORMAL OPERATIONS, WITH VERY FEW HEALTH ORDER DRIVEN MODIFICATIONS. THE ORGANIZATION WAS STILL IN A FINANCIAL AND OPERATIONAL REBUILDING PHASE THOUGH. THE ORGANIZATION MOVED THE EVENT TO A NEW VENUE: RAILYARD PARK, A MORE CENTRALLY LOCATED VENUE. 18270 0 0 MENTOR TO MARKET (M2M): TRAINING PROGRAM THAT TEACHES ARTISTS CRITICAL MARKETING AND BUSINESS SKILLS TO HELP THEM IMPROVE THEIR SALES, THUS SUSTAINING THEIR TRADITIONS AND CREATING STRONGER ECONOMY FOR THEMSELVES AND THEIR COMMUNITIES. IN 2021, THESE TRAINING PROGRAMS CONTINUED ONLINE BUT RETURNED TO IN-PERSON TRAINING IN 2022. IN 2023, A NEW PILOT CURRICULUM WAS DEVELOPED AND TESTED WITH A SMALL NUMBER OF ARTISTS WITH A PLAN FOR A BROADER IMPLEMENTATION IN 2024/2025. 4192 0 3167 FOLK ART MATTERS LECTURES: PROMOTING CULTURAL EXCHANGE BY PROVIDING THE GENERAL PUBLIC OPPORTUNITIES TO LEARN ABOUT INTERNATIONAL FOLK ART AS A TRANSMISSION OF METHODS, MATERIALS AND TECHNIQUES PASSED ON THROUGH GENERATIONS. IFAA RETURNED TO A MORE ROBUST SCHEDULE OF LECTURES AND WORKSHOPS IN 2023. LECTURES WERE FREE TO THE PUBLIC AND A SMALL MATERIALS FEE WAS CHARGED FOR WORKSHOPS. 2173170 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 27 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NM TX X X SUSAN BROWN 5059927604 620 CERRILLOS ROAD SANTA FE NM 87505 HANK COLEMAN CHAIR 5.00 X X 0 0 0 HELENA RIBE VICE CHAIR 2.00 X X 0 0 0 NANCY BERN TREASURER 5.00 X X 0 0 0 ERIC MINDLING SECRETARY 2.00 X X 0 0 0 LISA ADELMAN DIRECTOR 2.00 X 0 0 0 LISA AHMAD DIRECTOR 2.00 X 0 0 0 AMANDA ALEXANDER DIRECTOR 1.00 X 0 0 0 CATHY ALLEN DIRECTOR 1.00 X 0 0 0 BONNIE BENNETT DIRECTOR 1.00 X 0 0 0 MARTY BRANIFF DIRECTOR 1.00 X 0 0 0 ANNE CHOGNARD DIRECTOR 1.00 X 0 0 0 ELAINE COLE DIRECTOR 1.00 X 0 0 0 DEVENDRA CONTRACTOR DIRECTOR 1.00 X 0 0 0 KAREN DOMENICI DIRECTOR 1.00 X 0 0 0 ARDITH EICHER DIRECTOR 1.00 X 0 0 0 PHILIP FIMMANO DIRECTOR 1.00 X 0 0 0 MAGGIE HANSON-MUSE DIRECTOR 1.00 X 0 0 0 SARAH HOROWITZ DIRECTOR 1.00 X 0 0 0 BETTY HUDSON DIRECTOR 1.00 X 0 0 0 GURMEET KAUR DIRECTOR 1.00 X 0 0 0 ANTONIO LOPEZ DIRECTOR 2.00 X 0 0 0 MAKENZIE MUELLER DIRECTOR 1.00 X 0 0 0 MIKE MULLINS DIRECTOR 1.00 X 0 0 0 JUDITH PELHAM DIRECTOR 2.00 X 0 0 0 RODMAN PRIMACK DIRECTOR 1.00 X 0 0 0 SUZANNE SUGG DIRECTOR 2.00 X 0 0 0 COURTNEY TAYLOR DIRECTOR 1.00 X 0 0 0 CHARLOTTE WHITMORE DIRECTOR 1.00 X 0 0 0 STACEY EDGAR EXECUTIVE DIRECTOR 40.00 X 180000 0 966 180000 0 966 1 0 1 0 0 204898 1517705 84273 1722603 HANDLING FEE 900099 648388 648388 TICKET SALES 900099 377619 377619 BOOTH REVENUE 900099 114398 114398 1140405 132259 132259 311279 292958 18321 18321 18321 72130 75832 -3702 -3702 3009886 1140405 0 146878 X 180966 68768 50670 61528 668265 457644 105414 105207 10852 6777 1974 2101 17003 14520 1529 954 63125 39419 11486 12220 6824 4820 1585 419 74249 52448 17247 4554 11536 11536 305057 211335 68309 25413 107611 94426 4287 8898 124788 108792 7762 8234 135978 99825 16957 19196 15034 12953 1189 892 PROGRAM EXPENSES 1016246 901573 1895 112778 BANKING 62354 58907 2735 712 IN-KIND GOODS 43527 40612 48 2867 MISC. EXPENSE 21053 351 9136 11566 2864468 2173170 313759 377539 1000714 1040459 105786 96315 176660 109773 23029 26833 4226609 947344 3364887 3279265 2896133 3324337 184752 268607 7751961 8145589 40557 73521 52178 10699 92735 84220 X 5939714 6180670 1719512 1880699 7659226 8061369 7751961 8145589 145418 256725 0 X X 0 1 X 1 0 X 2124741 1577337 2951725 1179117 1722603 9555523 29886 783279 1030747 1162728 1212535 4219175 2154627 2360616 3982472 2341845 2935138 13774698 1350698 890772 2277041 500814 490112 5509437 0 1350698 890772 2277041 500814 490112 5509437 8265261 50801 33114 37889 112002 132259 366065 50801 33114 37889 112002 132259 366065 2205428 2393730 4020361 2453847 3067397 14140763 0.58450 0.54600 0.02590 0.02010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3184528 60000 371556 3616084 2898886 345642 60000 3184528 1965764 1158845 -225723 2898886 1863517 102247 1965764 1513783 500000 89339 239605 1863517 0.56783 0.43217 0 0 1015545 1015545 1384455 94664 1289791 1271417 395643 875774 555192 457037 98155 3279265 LEASE LIABILITY 10699 10699 X 3575219 256725 320144 576869 2998350 11536 11536 3009886 3173076 320144 320144 2852932 11536 11536 2864468 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT CONSISTS OF TWO INDIVIDUAL FUNDS ESTABLISHED COLLECTIVELY AS A QUASI-ENDOWMENT FUND, A FUND DESIGNATED BY BOARD OF DIRECTORS TO FUNCTION AS A QUASI-ENDOWMENT, AND A DONOR-RESTRICTED FUND. THE QUASI-ENDOWMENT INCLUDES FUNDS CONTRIBUTED BY NANCE AND RAMON LOPEZ, AND CAROLE AND EDD STEPP, AS WELL AS FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS AN ENDOWMENT. THE DONOR-RESTRICTED ENDOWMENT FUND IS IN ITS THIRTEENTH YEAR OF EXISTENCE. PART X, LINE 2: THE ORGANIZATION APPLIES THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. FASB ASC 740 PROVIDES DETAILED GUIDANCE FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS IN AN ORGANIZATION'S FINANCIAL STATEMENTS. INCOME TAX POSITIONS MUST MEET A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD TO BE RECOGNIZED. THE ORGANIZATION'S POLICY IS TO CLASSIFY INCOME TAX PENALTIES AND INTEREST AS MISCELLANEOUS EXPENSE. DURING THE YEARS ENDED DECEMBER 31, 2024, AND 2023, THE ORGANIZATION RECOGNIZED NO INCOME TAX PENALTIES OR INTEREST. AS OF DECEMBER 31, 2024, AND 2023, MANAGEMENT DOES NOT BELIEVE THE ORGANIZATION HAS ANY UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, OR DISCLOSURE UNDER FASB ASC 740. X X X X X 0 0 0 0 0 0 0 0 0 STACEY EDGAR EXECUTIVE DIRECTOR 180000 0 0 0 0 0 0 0 966 0 180966 0 0 0 X 5 40516 AVERAGE STOCK VALUE X WORKS OF ART AND OTHER INVENTORY 0 43757 SELLING PRICE & COMP 0 1 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF DONORS WHO CONTRIBUTED SECRUTITES. FORM 990, PART III, LINE 3 THE ORGANIZATION HAS DISCONTINUED THE ANNUAL OPERATION OF THE IFAM COLLECTION AT DALLAS MARKET CENTER. FORM 990, PART VI, SECTION A, LINE 1A ALL EXECUTIVE COMMITTEE MEMBERS ARE ALSO MEMBERS OF THE FULL BOARD OF DIRECTORS. MEMBERS INCLUDE: CHAIR, VICE CHAIR, TREASURER, SECRETARY, AND 4 NON-TITLED MEMBERS AT LARGE. A SUBSET OF THIS GROUP ARE GIVEN CHECK SIGNING AUTHORITY. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE FULL 990 AND RECOMMENDS APPROVAL TO THE FINANCE COMMITTEE AND EXECUTIVE COMMITTEE. AFTER THESE APPROVALS, THE PUBLIC DISCLOSURE COPY IS E-MAILED TO THE BOARD FOR THEIR REVIEW. THE BOARD IS ADVISED AS TO HOW THEY COULD REVIEW THE FORM 990 AT THEIR WILL PRIOR TO THE FILING DATE. AFTER THE BOARD MEMBERS HAVE REVIEWED THE RETURN, THE TAX PREPARER IS NOTIFIED THAT THE FORM 990 CAN BE FINALIZED AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS EVALUATED AS NEW BUSINESS RELATIONSHIPS AND SITUATIONS ARISE. BOARD TRUSTEES SIGN A COMPLIANCE AGREEMENT FORM ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 ORGANIZATION USES THREE DATA SOURCES - LOCAL, REGIONAL AND NATIONAL SALARY SURVEYS OF NON-PROFITS IN RELATED SECTORS OF ARTS, CULTURE AND EDUCATION - TO ARRIVE AT COMPARABLE COMPENSATION LEVELS FOR ITS STAFF. ED'S SALARY IS REVIEWED BY EXECUTIVE COMMITTEE ANNUALLY AS PART OF ED'S EVALUATION PROCESS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS & CONTRACTORS: PROGRAM SERVICE EXPENSES 211,335. MANAGEMENT AND GENERAL EXPENSES 68,309. FUNDRAISING EXPENSES 25,413. TOTAL EXPENSES 305,057. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.