Franklin Furnace Archive Inc
- Assets
- $588.3k
- Revenue
- $427.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 01/1977
- Data as of
- 07/2023
- EIN
- 13-2879766
Organization Overview
Franklin Furnace Archive Inc is located in Brooklyn, NY. The organization was established in 1977. According to its NTEE Classification (A50) the organization is classified as: Museums, 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. Franklin Furnace Archive 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 07/2023, Franklin Furnace Archive Inc generated $427.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $395.4k during the year ending 07/2023. While expenses have increased by 2.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FRANKLIN FURNACE'S MISSION IS TO PRESENT, PRESERVE, INTERPRET, PROSELYTIZE AND ADVOCATE ON BEHALF OF AVANTE-GARDE ART ESPECIALLY FORMS THAT MAY BE VULNERABLE DUE TO INSTITUTIONAL NEGLECT, CULTURAL BIAS, THEIR EPHERMERAL NATURE, OR POLITICALLY UNPOPULAR CONTENT. FRANKLIN FURNACE IS DEDICATED TO SERVING ARTISTS BY PROVIDING BOTH PHYSICAL AND VIRTUAL VENUES FOR THE PRESENTATION OF TIME-BASED ART, INCLUDING BUT NOT LIMITED TO ARTISTS' BOOKS AND PERIODICALS, INSTALLATION ART, PERFORMANCE ART, AND UNFORESEEN CONTEMPORARY AVANT-GARDE ARTFORMS; AND TO UNDERTAKING OTHER ACTIVITIES RELATED TO THESE PURPOSES. FRANKLIN FURNACE IS COMMITED TO SERVING EMERGING ARTISTS; TO ASSUMING AN AGGRESSIVE PEDAGOGICAL STANCE WITH REGARD TO THE VALUE OF AVANT-GARDE ART TO LIFE; AND TO FOSTERING ARTISTS' ZEAL TO BROADCAST IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRANKLIN FURNANCE AWARDS GRANTS TO DESERVING ARTISTS. A PANEL REVIEWS ALL PROPOSALS TO ENSURE DIVERSITY OF VIEWPOINTS. EMERGING ARTISTS SELECTED PREPARE FOR MAJOR PERFORMANCE OF ART WORKS FOR PRESENTATION IN THE NEW YEAR.
FRANKLIN FURNACE PROVIDED ART EDUCATION BY PLACING PROFESSIONAL ARTISTS IN NEW YORK CITY PUBLIC SCHOOL CLASSROOMS. CREATIVE THINKING AND HANDS ON PROJECTS THAT BUILD HIGHER STANDARDS OF LEARNING ARE STRESSED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Wilson President | OfficerTrustee | 10 | $0 |
Susan Widerman Blog Treasurer | OfficerTrustee | 2 | $0 |
Adam M Cohen Director | Trustee | 2 | $0 |
Chris Daze Ellis Director | Trustee | 2 | $0 |
Coco Fusco Director | Trustee | 2 | $0 |
Jon Hendricks Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $132,500 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,220 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,865 |
| Noncash contributions included in lines 1a–1f | $39,990 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $368,585 |
| Total Program Service Revenue | $16,485 |
| Investment income | $20,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $427,108 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $165,097 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,250 |
| Advertising and promotion | $2,625 |
| Office expenses | $240 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $520 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,371 |
| Insurance | $9,705 |
| All other expenses | $46,808 |
| Total functional expenses | $395,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $459 |
| Net Land, buildings, and equipment | $455 |
| Investments—publicly traded securities | $198,168 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $219,500 |
| Total assets | $588,320 |
| Accounts payable and accrued expenses | $110,746 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,232 |
| Total liabilities | $112,978 |
| Net assets without donor restrictions | $475,342 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $588,320 |