Vergel Foundation
- Assets
- $6.3m
- Revenue
- $891.8k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 13-4027930
Organization Overview
Vergel Foundation is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Vergel Foundation 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 12/2021, Vergel Foundation generated $891.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $718.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Vergel Foundation has awarded 29 individual grants totaling $202,130. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ADMINISTERS THE ART COLLECTION OF THE LATE JACQUES & NATASHA GELMAN. DURING 2021, PORTIONS OF THE COLLECTION WERE ON EXHIBITION AT THE THE DENVER ART MUSEUM, THE ALBUQUERQUE MUSEUM OF ART, THE PORTLAND MUSEUM OF ART AND STICHTUNG COBRA MUSEUM OF MODERN ART IN AMSTERDAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert R Littman President | 40 | $200,000 | |
Sully Bonnelly Director | 40 | $100,000 | |
John B Koegel Treasurer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $318,403 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $573,373 |
| Total Revenue | $891,776 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $300,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $246,125 |
| Total operating and administrative expenses | $586,686 |
| Contributions, gifts, grants paid | $131,630 |
| Total expenses and disbursements | $718,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,359 |
| 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 | $967,500 |
| Other assets | $5,313,998 |
| Total assets | $6,317,857 |
| Accounts payable and accrued expenses | $14,759 |
| 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 | $14,759 |
Grants Awarded
Over the last fiscal year, Vergel Foundation has awarded $131,630 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT | $36,000 |
GREY ART GALLERY NEW YORK UNIVERSIT PURPOSE: GENERAL SUPPORT | $20,000 |
Atlanta, GA PURPOSE: GENERAL SUPPORT | $20,000 |
GLYNDEBOURNE OPERA PURPOSE: GENERAL SUPPORT | $14,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $10,000 |
MARK MORRIS DANCE GROUP PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grace Farms Foundation New Canaan, CT | $127,278,874 | $14,337,032 |
Build Health International Inc Beverly, MA | $9,391,112 | $16,132,621 |
China Medical Board Inc Cambridge, MA | $0 | $15,367,231 |
Rubin Museum Of Art New York, NY | $219,341,965 | $20,862,684 |
Pussycat Foundation New York, NY | $113,070,433 | $12,403,154 |
Tippet Rise Foundation New York, NY | $46,097,612 | $11,599,378 |
Gerry Foundation Inc Liberty, NY | $111,892,284 | $11,122,515 |
Moise Y Safra Foundation Inc New York, NY | $57,760,218 | $6,334,851 |
Rockefeller Archive Center Sleepy Hollow, NY | $198,097,366 | $11,995,066 |
Black River Outdoor Education Program Inc Great Neck, NY | $0 | $235,026 |
Tiger Baron Foundation Inc New York, NY | $135,800,192 | $10,090,454 |
Institute For Aegean Prehistory New York, NY | $0 | $4,040,162 |