Fine Arts Society of Sarasota Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
TO PROVIDE EDUCATIONAL DISPLAYS AND INFORMATION ON ART IN OUR AREA AND TO PROVIDE SCHOLARSHIPS.
- Income
- $178,146
- Spending
- $156,919
- Spent on programs
- 86%
- Reserves
- 77 months of spending
- Largest source of income
- investment income, 45%
- Employees
- 0
- Volunteers
- 26
Source: Form 990 for the year ending April 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 90 out of 100.
Reserves
35 of 35Spendable reserves would cover 77.0 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
15 of 15Income exceeded spending by 12% of income.
Income trend
5 of 15Income fell 12% on the year before.
Spending floor
15 of 1586% of spending went to programs and raising each dollar of donations cost 1 cents.
Source: Form 990 for the year ending April 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 91 out of 100.
Independent board
25 of 2515 of 15 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending April 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $57,197 spent. 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.
- $41,324 spent. 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.
- $36,623 spent. 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.
Source: Form 990 for the year ending April 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending April 2026.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 1971.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
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