Overview

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Fiscal Year Start

Jan 1

Organization Type

Grantseeker

AI Summary

Magnolia Art Xchange Inc is a nonprofit organization based in Ocala, Florida, dedicated to enhancing art appreciation and education. With an operating budget of $29,000 and total revenue of $24,300, the organization provides working art studios, instructional spaces, and exhibition opportunities for visual artists, fostering professional development and community engagement. Magnolia Art Xchange does not rely on a single funder for 50% or more of its revenue, ensuring a diverse funding base to support its mission.

Mission Statement

THE MAGNOLIA ART EXCHANGE, INC. WILL PROVIDE OPPORTUNITIES FOR ART APPRECIATION AND EDUCATION BY PROVIDING WORKING ART STUDIOS, INSTRUCTIONAL SPACES, AND EXHIBITION OPPORTUNITIES FOR VISUAL ARTISTS IN A COLLABORATIVE HUB THAT ENCOURAGES PROFESSIONAL DEVELOPMENT. OBJECTIVES ARE TO CONTRIBUTE TO THE CULTURAL, EDUCATIONAL, AND ECONOMIC VITALITY OF OCALA/MARION COUNTY BY: SUPPORTING THE PROFESSIONAL GROWTH AND EDUCATION OF ARTISTS, ENHANCING AND EXPANDING THE CULTURAL CAMPUS LOCATED WITHIN OCALA'S CENTRAL BUSINESS DISTRICT, PROVIDING CITIZENS AND VISITORS WITH THE OPPORTUNITY TO ENGAGE ARTISTS, LEARN AND VIEW THE PROCESS FOR CREATING FINE ART, AND EXPERIENCE THE INTERSECTION OF ART AND COMMUNITY, SUPPORTING THE COMMUNITY'S COMMITMENT TO THE ARTS AND SUPPORTING THE CITY OF OCALA'S ECONOMIC GOALS BY DRAWING VISITORS AND RESIDENTS TO THE CENTRAL BUSINESS DISTRICT AND TO RETAIL AND COMMERCIAL ESTABLISHMENTS.
Revenues
$24.3K
Expenses
$33K
Net Income:
-$8.7K
Assets
$110.6K
Liabilities
$115
Net Assets:
+$110.5K
Operating Budget
$29K
Operating Budget by Year

Due Diligence

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Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Eligible for tax-deductible gifts
IRS Revocation Status
Not in Automatic Revocation of Exemption List
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Total No. of Grants
1
Median grant size
$1K
Largest grant received
$1K
O
Olivia Ortiz
Board Member
B
Barbara Fitos
Board Member
J
James Martin
Board Member

Frequently Asked Questions

What is MAGNOLIA ART XCHANGE INC’s budget?
In 2024, MAGNOLIA ART XCHANGE INC reported an annual operating budget of around $29 thousand. More detailed financial information is available to registered users.
What causes does MAGNOLIA ART XCHANGE INC support?
MAGNOLIA ART XCHANGE INC supports work in Education, Drawing, and Arts and culture.
Where does MAGNOLIA ART XCHANGE INC operate?
MAGNOLIA ART XCHANGE INC is headquartered in Ocala, FL.
Who funded MAGNOLIA ART XCHANGE INC recently?
In 2022, MAGNOLIA ART XCHANGE INC received grants from THE LILAC FOUNDATION CORPORATION, DUKE ENERGY FOUNDATION, and The Colen Foundation Inc. More information on this organization’s funders is available to registered users.
What is the largest grant MAGNOLIA ART XCHANGE INC received in 2022?
The largest grant to MAGNOLIA ART XCHANGE INC in 2022 exceeds $1,000.