International Folk Art Alliance Financials

Financials_13-14

Read the full report here.

DIVERSE FUNDING SOURCES

Major support is provided by generous individuals, private foundations, the New Mexico Department of Cultural Affairs, City of Santa Fe, County of Santa Fe Lodger’s Tax, and corporations and local businesses.

Note: All overhead (including fundraising and administrative costs) is covered by the IFAA’s earned revenue, such as ticket sales. Therefore, 100% of all donations goes directly to support artists and associated programs. Net assets are applied towards working capital for the coming year.

MARKET HIGHLIGHTS

  • Internationalnational, and local visitors to the market totaled 18,653.
  • The Market brought together over 173 folk artists from 57 countries to sustain their traditions and empower communities worldwide.
  • Artists at the 2015 Market sold $2.9 million in goods.
  • Artists took home 90% of their sales, averaging over $20,000 per booth.
  • Sales benefited over 25,690 artists worldwide, positively impacting the lives of over 265,000 extended family members.
  • Over 2,000 volunteers gave valuable time and resources to make the Market happen.
  •  USA Today readers voted the Market  |  Santa Fe #1 arts festival in the country.
  • American Express Essentials referenced the Market  |  Santa Fe as “a top-20 must see event” in the world.

VISITORS AND OVERALL ECONOMIC IMPACT

  • Estimated total visitor spending outside the Market was $9.1 million, approximately $2,000 per party.  This was part of an $11.3 million total economic impact.
  • IFAA paid $240,031 in gross receipts tax, collected from artists’ sales, directly to the State of New Mexico.
  • Of all visitors 64% were from outside of Santa Fe and of those 39.1% came from outside New Mexico, representing 37 states42.4% were full-time Santa Fe residents.
  • VISITOR MOTIVATION & PROFILE
    Two-thirds of visitors cited “to see or buy art” or “to support artists with my purchase” as their main reason for attending the Market.
  • Over 90% of visitors indicated the Market was either the main reason or one of the main reasons for their trip to Santa Fe.

BENEFITS TO SANTA FE AND THE REGIONAL COMMUNITY

  • The free community event at St. John’s College Music on the HillTM gathered an estimated 2,900 people for a celebration featuring the artist procession, international music, and children’s art activities.
  • Market Week activities, in collaboration with the Museum of International Folk Art, attracted thousands of children and adults.
  • The Market provided 1,000 complimentary tickets to families and youth groups from select summer youth programs.
  • Over 500 children participated in the Children’s Passport Project at the Market and interacted with artists from around the globe.
  • Outreach to Northern New Mexican and Albuquerque refugee communities involved over 300 additional children and youth.

NATIONAL RECOGNITION

  • The Market was featured in over 2.5 million printonline and broadcast stories with billions of impressions, 100 interviews, 20+ national stories including the Associated PressUSA TodayHuffington Post, and Wired.
  • Syndicated stories to over 67,900 outlets, including Yahoo.comMSN TravelWashington Post, the New York TimesUSA Today, and the Wall Street Journal.

INTERNATIONAL PARTICIPATION

The Market hosted international dignitaries and visiting delegations from ChinaHaitiMexicoNigeria, and South Africa, as well as representatives from the International Trade Center Ethical Fashion InitiativeU.S. Department of State and over 50 U.S. based organizations.

Download
2014 IFAA 990
2016 Audited Financial Statements


IFAA’s Charity Navigator Four Star Rating
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