Joan Mitchell Foundation Inc
- Assets
- $146.0m
- Revenue
- $11.8m
- Investments
- $105.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/1998
- Data as of
- 12/2022
- EIN
- 11-3161054
Organization Overview
Joan Mitchell Foundation Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joan Mitchell Foundation Inc 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 12/2022, Joan Mitchell Foundation Inc generated $11.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $8.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Joan Mitchell Foundation Inc has awarded 574 individual grants totaling $5,068,630. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
ARTIST CENTERED PROGRAMS - THE FOUNDATION RUNS A SET OF ARTIST-CENTERED PROGRAMS THAT FULFILL JOAN MITCHELL'S AMBITION TO "AID AND ASSIST" ARTISTS THROUGH GRANTS, RESIDENCIES, AND RELATED INITIATIVES. THE FOUNDATION CURRENTLY ADMINISTERS THE FOLLOWING PROGRAMS. THE ANNUAL FELLOWSHIP PROGRAM, EXPANDING ITS FORMER PAINTERS AND SCULPTORS GRANTS, PROVIDE GRANTS OF $60,000 EACH TO A DIVERSE GROUP OF FIFTEEN ARTISTS OVER FIVE YEARS. IN THE EVENT OF URGENT OF RELEVANT DISASTER, THROUGH EMERGENCY GRANTS, THE FOUNDATION PROVIDES EMERGENCY SUPPORT OF UP TO $6,000 TO US-BASED VISUAL ARTISTS WHO HAVE SUFFERED SIGNIFICANT PHYSICAL LOSSES AFTER NATURAL OR MAN-MADE EXCEPTIONAL DISASTERS. ADDITIONALLY, THE CREATING A LIVING LEGACY (CALL) INITIATIVE RECOGNIZES THAT ARTISTS OF ALL AGES MAY NEED SUPPORT TO ORGANIZE THEIR STUDIOS AND TAKE CHARGE OF THEIR CREATIVE LEGACIES, AND PROVIDES THEM WITH A COMPREHENSIVE SUITE OF RESOURCES TO START THE LEGACY PROCESS.
COLLECTION AND LEGACY - THE FOUNDATION MAINTAINS A COLLECTION OF ARTWORK OF JOAN MITCHELL AND OTHER ARTISTS, AND AN ARCHIVAL COLLECTION CONSISTING OF PERSONAL PROPERTY OF OR RELATED TO JOAN MITCHELL.THE FOUNDATION USES THIS COLLECTION FOR EDUCATIONAL PURPOSES ASSISTING IN ARRANGING EXHIBITIONS IN NON-PROFIT SPACES WITH SUPPLEMENTAL EDUCATIONAL MATERIALS. THE FOUNDATION WORKS TO BRING JOAN MITCHELL'S WORK TO A BROAD AUDIENCE, IN PARTICULAR TO AREAS AND PEOPLE WHO MAY NOT HAVE THE OPPORTUNITY TO SEE ARTWORK REGULARLY.
THE JOAN MITCHELL CENTER COMPLEMENTING THE JOAN MITCHELL FOUNDATION'S GRANT PROGRAMS, THE JOAN MITCHELL CENTER WAS DEVELOPED TO HOST ARTIST RESIDENCIES, PROVIDING WORKING AND LIVING SPACE ON A TWO-ACRE CAMPUS IN THE HISTORIC AND CULTURALLY DIVERSE CITY OF NEW ORLEANS. IN ADDITION TO THE ARTIST-IN-RESIDENCE PROGRAM, WHICH WELCOMES LOCAL, NATIONAL, AND INTERNATIONAL ARTISTS, THE CENTER PRODUCES PUBLIC PROGRAMMING FOR THE BROADER COMMUNITY OF NEW ORLEANS, AND SERVES AS AN INCUBATOR, CONDUIT, AND RESOURCE FOR PARTNERSHIPS IN THE ARTS.
CATALOGUE RAISONNETHE JOAN MITCHELL CATALOGUE RAISONNE PROJECT WAS ESTABLISHED IN FEBRUARY 2015 IN ORDER TO RESEARCH JOAN MITCHELL'S PAINTINGS AND TO RESULT IN THE EVENTUAL PUBLICATION OF A CATALOGUE RAISONNE. THIS WILL BE A SCHOLARLY, MULTI-VOLUME BOOK DOCUMENTING ALL OF THE ARTIST'S PAINTED WORK, INCLUDING ENTRIES FOR EACH PAINTING WITH HIGH QUALITY REPRODUCTIONS, COMPLETE DESCRIPTIVE INFORMATION AND DETAILED HISTORIES OF OWNERSHIP, EXHIBITIONS, AND LITERATURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jean Shin President | 2 | $12,000 | |
Miranda Lash Vice President | 2 | $12,000 | |
Sandy S Lee Treasurer | 2 | $12,000 | |
Linda Usdin Secretary | 2 | $12,000 | |
Marc A Chennault Director | 2 | $8,000 | |
James Coddington Director | 2 | $8,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patterson Belknap Webb & Tyler | 12/30/22 | $72,572 |
Weiser Security Services | 12/30/22 | $87,250 |
Brown Harris Stevens | 12/30/22 | $78,753 |
Hoberman Arts Sasu | 12/30/22 | $63,751 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,390,410 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,457,316 |
| Capital Gain Net Income | $9,625,316 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $501 |
| Total Revenue | $11,848,227 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $648,800 |
| Other employee salaries and wages | $1,982,055 |
| Pension plans, employee benefits | $987,525 |
| Interest | $0 |
| Taxes | $157,768 |
| Depreciation | $554,650 |
| Occupancy | $372,067 |
| Travel, conferences, and meetings | $217,573 |
| Printing and publications | $0 |
| Other expenses | $1,122,256 |
| Total operating and administrative expenses | $7,103,309 |
| Contributions, gifts, grants paid | $892,664 |
| Total expenses and disbursements | $7,995,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $323,687 |
| Savings and temporary cash investments | $1,935,331 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $163,315 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $32,532,716 |
| Net Land, buildings, and equipment | $15,151,619 |
| Other assets | $23,440,857 |
| Total assets | $146,043,045 |
| Accounts payable and accrued expenses | $751,880 |
| Grants payable | $1,114,664 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $26,852 |
| Total liabilities | $1,893,396 |
Grants Awarded
Over the last fiscal year, Joan Mitchell Foundation Inc has awarded $1,336,200 in support to 147 organizations.
| Grant Recipient | Amount |
|---|---|
CECELIA FERNANDES PURPOSE: HURRICANE IDA RELIEF FUND | $5,000 |
THEODORA ELIZER PURPOSE: HURRICANE IDA RELIEF FUND | $2,000 |
GUS BENNETT PURPOSE: HURRICANE IDA RELIEF FUND | $4,500 |
AMBER ADAMS PURPOSE: HURRICANE IDA RELIEF FUND | $1,000 |
PIPPIN FRISBIE-CALDER PURPOSE: HURRICANE IDA RELIEF FUND | $1,000 |
SALLY HELLER PURPOSE: HURRICANE IDA RELIEF FUND | $1,000 |