2024-09-25T15:19:05-05:00 2023-12-31 132907212 FRENDEL BROWN & WEISSMAN LLP CPA'S 655 THIRD AVE - SUITE 1400 NEW YORK NY 10017 990 2023-01-01 471636322 FAENA ARTS INC FAEN 3059044058 3201 COLLINS AVE MIAMI BEACH FL 33140 NICOLE COMOTTI COO 2128679630 2024-09-25 1 0 GARY KATZEN P01428109 2128679630 2024-09-25 2023 2024-08-08 14:25:15Z NICOLE COMOTTI 3201 COLLINS AVE MIAMI BEACH FL 33140 1612295 0 X WWW.FAENAART.ORG X 2014 NY ENCOURAGING, COMMISSIONING AND PRODUCING AMBITIOUS PUBLIC ARTS PROJECTS. 3 3 0 0 0 0 1965214 1612295 0 0 0 0 -631662 -345355 1333552 1266940 0 0 0 0 244577 242800 84350 228950 228950 1295363 1051453 1624290 1523203 -290738 -256263 1033541 414356 647192 284270 386349 130086 FAENA ARTS ORGANIZATION DEDICATED TO ENCOURAGING, COMMISSIONING AND PRODUCING AMBITIOUS PUBLIC ARTS PROJECTS, REACHING NEW AUDIENCES AND EXPANDING AWARENESS THROUGH CONTEMPORARY ART ON THE LOCAL LEVEL OF MIAMI BEACH, THE STATE OF FLORIDA, NATIONWIDE AND ABROAD. 0 0 666185 THE PROGRAM SERVICES CONSISTS OF PRODUCTION OF POST-DISCIPLINARY AND TIME-BASED EXPERIENCES. FAENA ART PRODUCES AMBITIOUS PUBLIC ARTS PROJECTS, REACHING NEW AUDIENCES AND EXPANDING AWARENESS THROUGH CONTEMPORARY ART ON THE LOCAL LEVEL OF MIAMI BEACH, THE STATE OF FLORIDA, NATIONWIDE AND ABROAD.THE ORGANIZATION FOSTERS NEW MODELS FOR PERFOMATIVE SOCIAL INTERACTION THAT TRANSCEND THE TRADITIONAL BOUNDARIES OF ART, SCIENCE, PHILOSOPHY, AND SOCIAL PRACTICE. 666185 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 44 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X FAENA ARTS INC 2128679630 3300 COLLINS AVE MIAMI BEACH FL 33140 GERMAN DE ELIZALDE PRESIDENT 40.00 0.00 X X 0 0 0 NEISEN O KASDIN TREASURER 2.00 0.00 X X 0 0 0 LAUREN CRAMER SECRETARY 2.00 0.00 X 0 0 0 NICOLE COMOTTI EXECUTIVE DIRECTOR 40.00 0.00 X 162800 0 0 JOSE SOTO CONTROLLER 40.00 0.00 X 60000 0 0 222800 0 0 1 0 1 0 COMOTTI LLC 8947 EMERSON AVENUE SURFSIDE FL 33154 CONSTRUCTION 162800 1 438483 1173812 1612295 0 438483 345355 -345355 -345355 1266940 0 0 -345355 X 242800 242800 18980 18980 9500 9500 228950 228950 666185 666185 98739 98739 67250 67250 19352 19352 12656 12656 LICENSES 89996 89996 EQUIPMENT RENTAL 49365 49365 MEALS 11285 11285 DUES AND SUBSCRIPTIONS 7659 7659 486 486 1523203 666185 628068 228950 245165 209533 758376 163417 11406 30000 30000 1033541 414356 647192 284270 647192 284270 X 386349 130086 386349 130086 1033541 414356 -256263 0 X X 0 1 X 1 0 X 1178351 313280 1364663 1965214 1612295 6433803 1178351 313280 1364663 1965214 1612295 6433803 6433803 6433803 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 1612295 345355 345355 1266940 0 1266940 1868558 345355 345355 1523203 0 1523203 PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. UNDER THESE PROVISIONS, NO TAX IS PAID ON INCOME RECEIVED AS LONG AS THE ORGANIZATIONS MAINTAINS ITS TAX EXEMPT STATUS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. ALTHOUGH THE ORGNIZATION IS EXEMPT FROM INCOME TAX, IT MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED UNDER THE CODE. AS OF DECEMBER 31, 2023, THE ORGANIZATION DETERMINED THAT THERE ARE NO SIGNIFICANT, UNCERTAIN TAX POSITIONS WITHIN ITS FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES - FUNDRAISING EVENT 345,355. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 345,355. X X X 1 ENNISMORE INTERNATIONAL MANAGEMENT LIMITED 101 NORTH 10TH STREET STUDIO 204 BROOKLYN NY 11249 MARKETING/SPONSORSHIP AGENT 0 1099286 192375 906911 1099286 192375 906911 DOME ABASEL EVENT 438483 438483 345355 438483 438483 345355 345355 -345355 0 0 0 0 0 0 0 0 0 NICOLE COMOTTI EXECUTIVE DIRECTOR 162800 0 0 0 0 0 0 0 0 0 162800 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B PROCESS USED TO REVIEW THE FORM 990 FAENA ARTS INC'S FORM 990 WAS PREPARED BY FAENA ARTS INC'S EXTERNAL ACCOUNTANT, FRENDEL BROWN & WEISSMAN LLP, IN CONSULTATION WITH FAENA ARTS INC'S BOARD OF DIRECTORS. THE COMPLETED VERSION OF THE FORM 990 WAS PROVIDED TO THE BOARD FOR ITS REVIEW AND COMMENT. UPON APPROVAL BY THE BOARD, THE FORM 990 WAS FINALIZED AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH CONFLICT OF INTEREST POLICY THE BOARD OF DIRECTORS OVERSEES THE SUBMISSION OF THE ANNUAL DISCLOSURES BY THE DIRECTORS, OFFICERS, TRUSTEES, AND KEY EMPLOYEES, REVIEWS THE DISCLOSURES TO DETERMINE WHETHER THERE ARE ANY CONFLICTS OF INTEREST, AND MONITORS OVERALL COMPLIANCE WITH THE POLICY. IF ANY ACTUAL OR POTENTIAL CONFLICT WERE TO ARISE, LEGAL COUNSEL WOULD WORK WITH THE BOARD TO FACILITATE THE FAIRNESS OF THE TRANSACTION, TO ENSURE THE RECUSAL OF ANY INTERESTED PARTIES FROM ANY DELIBERATIONS, AND OTHERWISE MONITOR COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE DIRECTORS OF FAENA ARTS INC. VOLUNTEER THEIR SERVICES AND RECEIVE NO COMPENSATION FROM FAENA ARTS INC. ALL FAENA ARTS INC OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE SALARY CHANGES ARE APPROVED BY THE BOARD. THE BOARD PERIODICALLY REVIEWS WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. WHEN CONDUCTING REVIEWS, THE ORGANIZATION MAY, BUT NO NEED TO, USE OUTSIDE ADVISORS. IF OUTSIDE EXPERTS ARE USED, THEIR USE SHALL NOT RELIEVE THE GOVERNING BOARD OF ITS RESPONSIBILITY FOR ENSURING PERIODIC REVIEWS ARE CONDUCTED. FORM 990, PART VI, SECTION C, LINE 19 PROCESS FOR MAKING DOCUMENTS AVAILABLE TO THE PUBLIC FAENA ARTS INC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTORS - PROGRAM RELATED: PROGRAM SERVICE EXPENSES 666,185. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 666,185. FORM 990, PART XII, LINE 2C THE PROCESS FOR THE SELECTION AND SUPERVISION OF THE ORGANIZATION'S INDEPENDENT AUDITOR HAS REMAINED CONSISTENT WITH THE PRIOR YEAR.