Helen Frankenthaler Foundation Inc
- Assets
- $176.1m
- Revenue
- $19.4m
- Investments
- $99.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1985
- Data as of
- 12/2023
- EIN
- 13-3244308
Organization Overview
Helen Frankenthaler Foundation Inc is located in New York, NY. The organization was established in 1985. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Helen Frankenthaler 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 12/2023, Helen Frankenthaler Foundation Inc generated $19.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $32.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Helen Frankenthaler Foundation Inc has awarded 481 individual grants totaling $54,733,791. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATALOGUING AND MAINTAINING THE HELEN FRANKENTHALER FOUNDATION ART COLLECTION FOR LOANS TO MUSEUM EXHIBITIONS AND IN PREPARATION FOR A FUTURE CATALOGUE RAISONNE. CURATING EXHIBITIONS OR PARTNERING ON CURATORIAL PROJECTS ADVANCING THE LEGACY OF HELEN FRANKENTHALER AND PUBLIC UNDERSTANDING OF HER WORK. ORGANIZING AND PRESENTING PUBLIC PROGRAMS AND EVENTS ON OR RELATED TO FRANKENTHALER'S WORK AND TO OTHER ABSTRACT EXPRESSIONIST ARTISTS, AS WELL AS THE ROLE AND RESPONSIBILITIES OF ARTIST-ENDOWED FOUNDATIONS.
PROCESSING AND MAINTAINING THE HELEN FRANKENTHALER FOUNDATION ARCHIVES AND LIBRARY AS A STUDY CENTER TO FACILITATE SCHOLARLY RESEARCH ON THE ARTIST'S WORK. PUBLISHING AND ASSISTING WITH THE PUBLICATION OF CATALOGUES AND OTHER SCHOLARLY TEXTS ON HELEN FRANKENTHALER AND HER WORK'S RELATION TO OTHER 20TH AND 21ST CENTURY ARTISTS.ORGANIZING AND STUDYING THE FOUNDATION'S COLLECTION OF PRINTS BY HELEN FRANKENTHALER IN PREPARATION CURRENT AND UPCOMING PHASES OF THE FRANKENTHALER PRINTS FOR INITIATIVE OF GIFTS TO UNIVERSITY ART MUSEUMS.
DEVELOPING AND OFFERING PROGRAMS IN CONJUNCTION WITH BENNINGTON COLLEGE'S DEPARTMENT OF VISUAL ARTS, SPECIFICALLY ITS MUSEUM FELLOWS TERM, FOR WHICH THE FOUNDATION'S OFFICES AND STUDY CENTER SERVE AS THE NEW YORK CITY HUB, AND OFFERING OTHER PROFESSIONAL DEVELOPMENT INTERNSHIPS FOR STUDENTS AT BENNINGTON COLLEGE AND OTHER ACADEMIC OR NONPROFIT INSTITUTIONS.CONDUCTING AND ARCHIVING INTERVIEWS FOR AN ORAL HISTORY PROGRAM TO AID FUTURE SCHOLARSHIP ON HELEN FRANKENTHALER AND THE CONTEXT OF HER WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lise Motherwell Chair/director | 2 | $0 | |
Michael Hecht Secretary/treasurer/director | 2 | $0 | |
Clifford Ross President As Of 5/19/23/director | 2 | $0 | |
Elizabeth Smith Executive Director | 35 | $452,500 | |
Frederick J Iseman President/director Until 5/19/23 | 2 | $0 | |
James Thomas Deputy Director | 35 | $281,482 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dontzin Nagy & Fleissig Llp | 12/30/23 | $641,544 |
Simpson Thacher & Bartlett Llp | 12/30/23 | $520,399 |
Fiera Capital | 12/30/23 | $206,892 |
Silberman Zaretsky Pc | 12/30/23 | $182,140 |
Resnicow & Associates Inc | 12/30/23 | $144,905 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15,898 |
| Dividends & Interest | $2,450,593 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,950,875 |
| Capital Gain Net Income | $16,950,875 |
| Net ST Capital Gain | $0 |
| Income Modifications | $2,475 |
| Profit on Inventory Sales | $0 |
| Other Income | $31,452 |
| Total Revenue | $19,448,818 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $452,500 |
| Other employee salaries and wages | $1,678,620 |
| Pension plans, employee benefits | $536,684 |
| Interest | $0 |
| Taxes | $313,533 |
| Depreciation | $10,704 |
| Occupancy | $205,573 |
| Travel, conferences, and meetings | $131,014 |
| Printing and publications | $0 |
| Other expenses | $1,849,061 |
| Total operating and administrative expenses | $6,845,705 |
| Contributions, gifts, grants paid | $25,325,037 |
| Total expenses and disbursements | $32,170,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,094,382 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $6,971,692 |
| Other assets | $63,665,674 |
| Total assets | $176,117,159 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Helen Frankenthaler Foundation Inc has awarded $25,335,037 in support to 102 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY ART MUSEUM INC PURPOSE: FRANKENTHALER CLIMATE INITIATIVE ("FCI") 2023 SCOPING | $14,500 |
APPALACHIAN STATE UNIVERSITY FOUNDATION INC PURPOSE: FCI 2023 IMPLEMENTATION | $99,995 |
ART INSTITUTE OF CHICAGO PURPOSE: ART FOR MUSEUM COLLECTION | $4,599,900 |
ARTSPACE INC PURPOSE: FCI 2023 IMPLEMENTATION | $100,000 |
ANCHORAGE MUSEUM ASSOCIATION PURPOSE: FCI 2023 TECH ASSISTANCE | $40,000 |
ARTTABLE INC PURPOSE: SUPPORT 2024 FELLOWSHIP PROGRAM (1 OF 2) | $30,000 |