The Elizabeth Foundation For The Arts
- Assets
- $6.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 20
- Location
- New York, NY
- Founding
- 11/1992
- Data as of
- 12/2020
- EIN
- 06-1313662
Organization Overview
The Elizabeth Foundation For The Arts is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Elizabeth Foundation For The Arts employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elizabeth Foundation For The Arts is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Elizabeth Foundation For The Arts generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.7m during the year ending 12/2020. While expenses have increased by 1.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ARTISTS WITH SPACE, TOOLS, AND A FORUM FOR DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
STUDIO CENTER: PROVIDES ARTISTS WITH AFFORDABLE PROFESSIONAL ART STUDIOS IN NEW YORK AND PROFESSIOINAL CAREER DEVELOPMENT THROUGH VISITING PROFESSIONALS, SEMINARS, LECTURES, AND PUBLIC INTERERATION THROUGH OPEN STUDIOS. ROBERT BLACKBURN PAINTMAKING WORKSHOP: PROVIDES ARTISTS WITH AFFORDABLE PROFESSIOINAL PAINTMAKING STUDIO WORKSPACE, CLASSES, LECTURES, DEMONSTRATIONS AND EXHIBITION OPPORTUNITIES. PROJECT SPACE: PROVIDES ARTISTS AND CURATORS WITH PROFESSIONAL CAREER DEVELOPMENT THROUGH EXHIBITIONS, EVENTS, SEMINARS, RESIDENCIES AND PUBLIC INTERATION AND DISCUSSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Stephenson Executive Di | Officer | 40 | $65,000 |
Stephen Braun Secretary | Officer | 2 | $0 |
Stuart Friedman Treasurer | Officer | 2 | $0 |
Alan Kleiman President | Officer | 2 | $0 |
George Gordon King Vice Preside | Officer | 2 | $0 |
Michelle Loh Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $359,171 |
| Investment income | $49 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $223,045 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $39,772 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,576,303 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $14,559 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $503,202 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $100,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,594 |
| Advertising and promotion | $0 |
| Office expenses | $9,054 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,144 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $102,101 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $220,882 |
| Insurance | $3,352 |
| All other expenses | $0 |
| Total functional expenses | $1,672,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,976 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $59,379 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,888 |
| Investments—publicly traded securities | $5,626 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $671,221 |
| Total assets | $6,747,925 |
| Accounts payable and accrued expenses | $175,514 |
| Grants payable | $0 |
| Deferred revenue | $11,295 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,377,018 |
| Unsecured mortgages and notes payable | $148,131 |
| Other liabilities | $160,348 |
| Total liabilities | $2,872,306 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,875,619 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that The Elizabeth Foundation For The Arts has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Milton And Sally Avery Arts Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $50,000 |
The Andy Warhol Foundation For The Visual Arts Inc New York, NY PURPOSE: PROJECT SPACE PROGRAM SUPPORT (OVER 2 YEARS) | $40,000 |
Bialkin Family Foundation New York, NY PURPOSE: TO FURTHER DONEE'S EXEMPT PURPOSE | $5,000 |
Robert B And Emilie W Betts Foundation Dubois, WY PURPOSE: CHARITABLE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert Rauschenberg Foundation New York, NY | $498,786,006 | $26,542,072 |
Corporation Of Yaddo Saratoga Springs, NY | $58,580,101 | $4,491,706 |
Emerson Umbrella Inc Concord, MA | $32,547,256 | $2,816,448 |
The Elizabeth Foundation For The Arts New York, NY | $6,747,925 | $1,576,303 |
Kaatsbaan International Dance Center Inc Tivoli, NY | $2,917,016 | $1,601,121 |
Jane And Jack Fitzpatrick Tr Stockbridge, MA | $16,214,471 | $1,247,768 |
Association For Promotion Of Jewish Secularism Valley Stream, NY | $1,073,582 | $1,051,769 |
Volunteer Lawyers For The Arts Inc New York, NY | $1,760,254 | $1,417,543 |
Arts & Business Council Of Greater Boston Inc Boston, MA | $4,352,780 | $1,647,322 |
Womens Studio Workshop Inc Rosendale, NY | $1,606,567 | $544,946 |
New Brunswick Cultural Center Inc New Brunswick, NJ | $14,306,662 | $403,521 |
Smack Mellon Studios Inc Brooklyn, NY | $757,795 | $747,790 |