THE FINE ARTS SOCIETY OF SARASOTA INC

EIN: 237098475 501(c)(3)

SARASOTA, FL

Total Revenue
$201,989
Total Expenses
$125,244
Total Assets
$2,027,615
Net Assets
$2,028,015
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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
FL
Principal Officer
WILLIAM RUSLING
Phone
9413515361
Tax Period
2023-05-01 to 2024-04-30

THE FINE ARTS SOCIETY OF SARASOTA INC, founded in 1969, is a small nonprofit that reported $202K in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. The organization ran a surplus of $77K, a strong 38% operating margin.

Mission

TO PROVIDE EDUCATIONAL DISPLAYS AND INFORMATION ON ART IN OUR AREA AND TO PROVIDE SCHOLARSHIPS.

Program Service Accomplishments

Program 1
Expenses: $42,582 Revenue: $47,024

PHILANTHROPYSINCE 1969, THE FINE ARTS SOCIETY OF SARASOTA, INC. HAS AWARDED OVER $1,300,000 IN SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE ARTS AND ALLOWS THE COMPLIMENTARY USE OF THE ARTS...

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PHILANTHROPYSINCE 1969, THE FINE ARTS SOCIETY OF SARASOTA, INC. HAS AWARDED OVER $1,300,000 IN SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE ARTS AND ALLOWS THE COMPLIMENTARY USE OF THE ARTS ADVOCATES GALLERY FOR EVENTS AND EXHIBITS TO LOCAL ARTS AND EDUCATIONAL ORGANIZATIONS WHOSE MISSION IS CONGRUENT WITH THAT OF FINE ARTS. IN RECENT YEARS, OUR SCHOLARSHIP STUDENTS HAVE PREPARED FOR PROFESSIONAL CAREERS IN DRAWING, PAINTING, SCULPTURE, PHOTOGRAPHY, FILM, DANCE, MUSICAL THEATRE, SET DESIGN, VOCAL AND INSTRUMENTAL MUSIC, CREATIVE WRITING, AND ARCHITECTURE. AMONG THE MANY SCHOOLS OUR SCHOLARS HAVE ATTENDED ARE CARNEGIE MELLON UNIVERSITY, CLEVELAND INSTITUTE OF ART, MANHATTAN SCHOOL OF MUSIC, RINGLING COLLEGE OF ART AND DESIGN, UNIVERSITY OF MIAMI AND THE UNIVERSITY OF FLORIDA. MANY OF THESE STUDENTS RETURN TO SARASOTA, FLORIDA WHILE OTHERS LIVE AND WORK IN ALL PARTS OF THE WORLD.DOCENT-LED TOURS OF THE ART COLLECTION ARE AVAILABLE TO THE PUBLIC ON A WEEKLY BASIS. IN COOPERATION WITH THE COUNTY SCHOOL DISTRICTS AWARDS ARE ALSO GIVEN TO WINNING MIDDLE SCHOOL STUDENTS IN AN ANNUAL ART COMPETITION.

Program 2
Expenses: $31,484 Revenue: $18,582

EDUCATIONAL/INFORMATIONAL PROGRAMS FOR FINE ARTS MEMBERS AND GUESTS.THE FINE ARTS SOCIETY OF SARASOTA, INC. PROGRAM COMMITTEE IS CHARGED WITH ARRANGING SPEAKERS, EDUCATIONAL TOURS, WORKSHOPS AND...

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EDUCATIONAL/INFORMATIONAL PROGRAMS FOR FINE ARTS MEMBERS AND GUESTS.THE FINE ARTS SOCIETY OF SARASOTA, INC. PROGRAM COMMITTEE IS CHARGED WITH ARRANGING SPEAKERS, EDUCATIONAL TOURS, WORKSHOPS AND SALONS (VISITS TO PRIVATE COLLECTIONS) THROUGHOUT THE YEAR. COMMUNITY LEADERS IN ALL AREAS OF THE ARTS AND EDUCATION ARE INVITED TO ADDRESS THE GENERAL MEMBERSHIP AT MONTHLY MEETINGS FROM OCTOBER THROUGH MAY. THESE PROGRAMS PROVIDE CONTINUING EDUCATION OPPORTUNITIES FOR FINE ARTS MEMBERS, FAMILY AND GUESTS.

Program 3
Expenses: $30,788

THE COLLECTIONTHE FINE ARTS SOCIETY OF SARASOTA, INC. HAS ESTABLISHED AND MAINTAINS A COLLECTION OF SOME SEVENTY PIECES OF ARTWORK, CONSISTING OF PAINTINGS AND SCULPTURES, BY ARTISTS WHO RESIDE IN OR...

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THE COLLECTIONTHE FINE ARTS SOCIETY OF SARASOTA, INC. HAS ESTABLISHED AND MAINTAINS A COLLECTION OF SOME SEVENTY PIECES OF ARTWORK, CONSISTING OF PAINTINGS AND SCULPTURES, BY ARTISTS WHO RESIDE IN OR HAVE TIES TO FLORIDA. THESE WORKS ARE ON EXHIBITION AT THE CITY'S VAN WEZEL PERFORMING ARTS HALL AND THE ARTS ADVOCATES GALLERY WHERE MEMBERS AND VISITORS MAY ENJOY VIEWING THEM. IN ADDITION, SPECIAL DOCENT LEAD TOURS ARE AVAILABLE TO THE PUBLIC ON A MONTHLY BASIS AND PLANS ARE UNDERWAY TO ARRANGE EDUCATIONAL, GUIDED TOURS FOR ELEMENTARY AND MIDDLE SCHOOL STUDENTS.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $80,899
Program Service Revenue $65,606
Investment Income $55,484
Other Revenue $0
TOTAL REVENUE $201,989

Expense Breakdown

Grants Paid $38,500
Salaries & Benefits $0
Fundraising Expenses $1,451
Program Expenses $104,854
Other Expenses $86,744
TOTAL EXPENSES $125,244

Year-over-Year Comparison

2023 2022 Change
Revenue $201,989 $172,888 +0.2%
Expenses $125,244 $102,250 +0.2%
Net Income $76,745 $70,638 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
15
Independent Members
15
Employees
N/A
Volunteers
26

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CAROLE SCHWARTZ PRESIDENT 35.00
Officer Director
$0 $0 $0
WILLIAM RUSLING VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
ELAINE FOSTER TREASURER 25.00
Officer Director
$0 $0 $0
SHARON SAATSOGLOU CORRESPONDING SECRETARY 1.00
Officer Director
$0 $0 $0
EVELYN LEVIN RECORDING SECRETARY 1.00
Officer Director
$0 $0 $0
JEANNETTE PALADINO PAST PRESIDENT 1.00
Officer Director
$0 $0 $0
RENNIE CARTER DIRECTOR 2.00
Director
$0 $0 $0
CECILIA CONDER DIRECTOR 1.00
Director
$0 $0 $0
CAROL HIRSCHBURG DIRECTOR 1.00
Director
$0 $0 $0
BETTY FERGUSON DIRECTOR 5.00
Director
$0 $0 $0
STEPHANIE FRASHER DIRECTOR 10.00
Director
$0 $0 $0
DONNA MAYTHAM DIRECTOR 1.00
Director
$0 $0 $0
PATRICIA TAYLOR DIRECTOR 1.00
Director
$0 $0 $0
LIZ TROSTLI DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $201,989 $125,244 $2,027,615 $76,745
2023 $172,888 $102,250 $1,827,406 $70,638
2022 $162,228 $109,598 $1,759,156 $52,630
2021 $128,308 $72,912 $1,823,576 $55,396
2020 $128,425 $168,959 $1,464,503 $-40,534
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