Paestum Foundation Inc
- Assets
- $38.9m
- Revenue
- $6.5m
- Investments
- $15.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1999
- Data as of
- 09/2021
- EIN
- 13-4082016
Organization Overview
Paestum Foundation Inc is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Paestum 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 09/2021, Paestum Foundation Inc generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $2.1m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING A COLLECTION OF WORKS OF ART AND PHOTOGRAPHS FOR EXHIBITION AND LOAN TO MUSEUMS.THE PURPOSES FOR WHICH THE FOUNDATION WAS FORMED ARE TO PROMOTE AND ENCOURAGE KNOWLEDGE AND APPRECIATION OF ART, IRRESPECTIVE OF ITS MEDIUM, BY EXHIBITION AND OTHER PROMOTION THEREOF AND BY AID AND SUPPORT BY GIFTS, LOANS, CONTRIBUTIONS OR OTHERWISE, TO OTHER CORPORATIONS, COMMUNITY CHESTS, FUNDS, FOUNDATIONS, MUSEUMS AND LIKE ORGANIZATIONS WHICH ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY OR EDUCATIONAL PURPOSES INCLUDING, WITHOUT LIMITATION, CULTURAL AND EDUCATIONAL EXCHANGE.
CONTINUATION OF ACTIVITY ONE - ERWISE ATTEMPTING TO INFLUENCE LEGISLATION, AND WHICH DO NOT PARTICIPATE IN OR INTERVENE IN (INCLUDING THE PUBLISHING OR DISTRIBUTION OF STATEMENTS) ANY POLITICAL CAMPAIGN ON BEHALF OF ANY CANDIDATE FOR PUBLIC OFFICE. THE ACTIVITIES OF THE FOUNDATION OR ANY OF SUCH ORGANIZATIONS DESCRIBED IN THE FOREGOING SENTENCE MAY INCLUDE, WITHOUT LIMITATION, EXHIBITION, EXCHANGE AND OTHER CULTURAL AND EDUCATIONAL EXPLOITATION OF ART IRRESPECTIVE OF ITS MEDIUM, PROMOTING RECOGNITION OF AND RESPECT FOR, ART THROUGH EDUCATION OF ARTISTS AND THE PUBLIC AND, GENERALLY, TO SUPPORT EFFORTS TO PROMOTE GREATER INTEREST AND UNDERSTANDING OF ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Silberman Director/president | 1 | $0 | |
Michael Hecht Director/secretary/treasurer | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greenhaven Associates Inc | 9/29/16 | $161,644 |
Neuberger Berman Llc | 9/29/16 | $51,274 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $446,899 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,731,666 |
| Capital Gain Net Income | $5,731,666 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $280,468 |
| Total Revenue | $6,459,033 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $84,267 |
| Total operating and administrative expenses | $373,911 |
| Contributions, gifts, grants paid | $1,730,000 |
| Total expenses and disbursements | $2,103,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,486,686 |
| 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 | $0 |
| Other assets | $6,496,055 |
| Total assets | $38,912,158 |
| 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, Paestum Foundation Inc has awarded $1,730,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
YALE UNIVERSITY ART GALLERY PURPOSE: 2 PIECES OF ARTWORK LOANED YALE UNIVERSITY ART GALLERY | $876,000 |
FIDELITY CHARITABLE PURPOSE: GENERAL SUPPORT | $854,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |