Solow Art And Architecture Foundation
- Assets
- $227.9m
- Revenue
- -$1.4m
- Investments
- $62.5m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/1991
- Data as of
- 11/2023
- EIN
- 13-3614971
Organization Overview
Solow Art And Architecture Foundation is located in New York, NY. The organization was established in 1991. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Solow Art And Architecture Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Solow Art And Architecture Foundation has awarded 66 individual grants totaling $7,546,832. 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
THE SOLOVIEV FOUNDATION DEBUT "FIELD OF LIGHT," A SIX-ACRE IMMERSIVE INSTALLATION ALONG THE WATERFRONT EDGE OF MURRAY HILL, MANHATTAN. DESIGNED BY ACCLAIMED ARTIST BRUCE MUNRO, THE INSTALLATION WILL TAKE SHAPE AT FREEDOM PLAZA, AN UNDEVELOPED PARCEL OF LAND ALONG THE EAST RIVER FROM 38TH TO 41ST STREETS.THE INSTALLATION IS SCHEDULED TO OPEN THIS FALL AND REMAIN IN PLACE FOR 12 MONTHS. FIELD OF LIGHT WILL FEATURE 17,000 LOW-LIGHT, FIBER-OPTIC STEMMED SPHERES THAT SLOWLY CHANGE COLOR THROUGHOUT THE DAY. ACCESS TO THE PLAZA WILL BE FREE OF CHARGE FOR ALL VISITORS.
THE SOLOVIEV ART GALLERY SHOWCASES A ROTATING ARRAY OF EXHIBITIONS DRAWING FROM, BUT NOT LIMITED TO, THE FOUNDATION'S IMPRESSIVE AND EXPANSIVE COLLECTION. A SINGULAR ASSEMBLAGE OF WORKS BY MODERN MASTERS OF THE 20TH CENTURY IS CURRENTLY ON VIEW AT THE GROUND FLOOR OF THE SOLOVIEV GROUP'S ICONIC OFFICE TOWER LOCATED AT 9 WEST 57TH STREET. AS PART OF THE FOUNDATION'S EFFORTS TO SHARE ITS COLLECTION AND TO PROMOTE CROSS-CULTURAL COOPERATION AND UNDERSTANDING, THE GALLERY FREQUENTLY LENDS ITS WORKS TO ART INSTITUTIONS WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stefan Q Soloviev President | 0.25 | $0 | |
Nikolai Solow Treasurer | 0.25 | $0 | |
Michael Hershman Vice President And Secretary | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steven Dubner Landscaping Inc | 11/29/23 | $3,989,440 |
Events Group International Inc | 11/29/23 | $1,411,407 |
Imaging4art | 11/29/23 | $109,873 |
Bruce Munro Studio | 11/29/23 | $1,050,500 |
Dujour Media | 11/29/23 | $400,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,801,324 |
| Dividends & Interest | $1,608,963 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,826,748 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $1,309 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$1,416,461 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $76,684 |
| Depreciation | $25,000 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,536,969 |
| Total operating and administrative expenses | $9,109,973 |
| Contributions, gifts, grants paid | $1,149,287 |
| Total expenses and disbursements | $10,259,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $412,619 |
| Savings and temporary cash investments | $9,545,714 |
| Net Accounts receivable | $1,186 |
| 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 | $6,701,555 |
| Net Land, buildings, and equipment | $50,000 |
| Other assets | $155,457,421 |
| Total assets | $227,924,797 |
| 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, Solow Art And Architecture Foundation has awarded $1,149,287 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE RIDGE PARKWAY FOUNDATION PURPOSE: GENERAL SUPPORT | $100,000 |
CITYMEALS-ON-WHEELS PURPOSE: GENERAL SUPPORT | $10,000 |
EAST HAMPTON VILLAGE POLICE PURPOSE: GENERAL SUPPORT | $5,000 |
FIRST UNITED METHODIST CHURCH OF EAST HAMPTON PURPOSE: GENERAL SUPPORT | $10,000 |
HOUSING PARTNERSHIP DEVELOPMENT CORPORATION PURPOSE: GENERAL SUPPORT | $6,000 |
HOSPITAL FOR SPECIAL SURGERY FOUNDATION PURPOSE: GENERAL SUPPORT | $35,000 |