The Studio Museum In Harlem
- Assets
- $153.7m
- Revenue
- $40.5m
- Investments
- $0.0
- Employees
- 107
- Location
- New York, NY
- Founding
- 11/1967
- Data as of
- 06/2021
- EIN
- 13-2590805
Organization Overview
The Studio Museum In Harlem is located in New York, NY. The organization was established in 1967. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Studio Museum In Harlem employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studio Museum In Harlem 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 06/2021, Studio Museum In Harlem generated $40.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.7% each year . All expenses for the organization totaled $11.5m during the year ending 06/2021. While expenses have increased by 10.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE STUDIO MUSEUM IN HARLEM IS THE NEXUS FOR ARTISTS OF AFRICAN DESCENT LOCALLY, NATIONALLY AND INTERNATIONALLY AND FOR WORK THAT HAS BEEN INSPIRED AND INFLUENCED BY BLACK CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL (SEE SCHEDULE O)
EDUCATION & PUBLIC PROGRAMS (SEE SCHEDULE O)
EXHIBITIONS (SEE SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thelma A Golden Director/chief Curator | Officer | 35 | $325,000 |
Chakshu Patel Dir. Institutional Advance | 35 | $232,089 | |
Sheila Mcdaniel Fmr. Deputy Dir & Admin./cfo | Officer | 35 | $153,276 |
Raymond J Mcguire Chairman | OfficerTrustee | 2 | $0 |
Carol Sutton Lewis Vice Chair | OfficerTrustee | 2 | $0 |
Jacqueline L Bradley Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sciame Construction Construction | 6/29/21 | $13,417,996 |
Zubatkin Owner Representation Llc Project Consultant | 6/29/21 | $706,158 |
Cooper Robertson Architect | 6/29/21 | $684,707 |
Hirani Engineering & Land Surveying Pc Vibration Monitoring | 6/29/21 | $544,427 |
310 Property Management Llc Leased Space | 6/29/21 | $490,671 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $286,257 |
| Fundraising events | $1,393,155 |
| Related organizations | $0 |
| Government grants | $4,686,408 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,728,122 |
| Noncash contributions included in lines 1a–1f | $1,708,961 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,093,942 |
| Total Program Service Revenue | $0 |
| Investment income | $1,049,189 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $681 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,215,208 |
| Net Income from Fundraising Events | -$91,982 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $74,811 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,471,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $152,140 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $560,116 |
| Compensation of current officers, directors, key employees. | $228,757 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,184,961 |
| Pension plan accruals and contributions | $468,166 |
| Other employee benefits | $521,774 |
| Payroll taxes | $340,430 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $223,507 |
| Fees for services: Accounting | $166,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $48,000 |
| Fees for services: Investment Management | $90,475 |
| Fees for services: Other | $422,491 |
| Advertising and promotion | $15,910 |
| Office expenses | $285,842 |
| Information technology | $197,002 |
| Royalties | $0 |
| Occupancy | $1,010,447 |
| Travel | $20,451 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,242 |
| Interest | $148,869 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $578,731 |
| Insurance | $47,864 |
| All other expenses | $146,368 |
| Total functional expenses | $11,496,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,113,798 |
| Savings and temporary cash investments | $28,542,517 |
| Pledges and grants receivable | $16,420,442 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,702,733 |
| Inventories for sale or use | $77,883 |
| Prepaid expenses and deferred charges | $290,307 |
| Net Land, buildings, and equipment | $42,178,106 |
| Investments—publicly traded securities | $27,702,726 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,680,020 |
| Total assets | $153,708,532 |
| Accounts payable and accrued expenses | $774,141 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,286,891 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,535,447 |
| Total liabilities | $8,596,479 |
| Net assets without donor restrictions | $64,121,496 |
| Net assets with donor restrictions | $80,990,557 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $153,708,532 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Studio Museum In Harlem has recieved totaling $31,000.
| Awarding Organization | Amount |
|---|---|
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $25,000 |
The Fullgraf Foundation Wilmington, DE PURPOSE: STUDIO MUSEUM FUND | $5,000 |
Federated Foundations Inc New York, NY PURPOSE: GENERAL | $1,000 |
Endowment Analysis
| Beg. Balance | $81,899,304 |
| Earnings | $3,376,558 |
| Net Contributions | $14,135,103 |
| Other Expense | $18,420,408 |
| Ending Balance | $80,990,557 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
The Corning Museum Of Glass Corning, NY | $73,662,076 | $31,481,253 |
Intrepid Museum Foundation Inc New York, NY | $107,274,514 | $23,304,017 |
Jewish Museum New York, NY | $170,221,432 | $22,874,963 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
Newark Museum Association Newark, NJ | $64,370,892 | $11,736,749 |
Brandywine Conservancy & Museum Of Art Chadds Ford, PA | $159,611,083 | $25,949,606 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |
The Maritime Aquarium At Norwalk Inc South Norwalk, CT | $19,089,489 | $11,308,442 |