Visual Arts Foundation Inc
- Assets
- $5.1m
- Revenue
- $1.2m
- Investments
- $3.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/1968
- Data as of
- 12/2021
- EIN
- 13-6261474
Organization Overview
Visual Arts Foundation Inc is located in New York, NY. The organization was established in 1968. According to its NTEE Classification (A90) the organization is classified as: Arts Services, 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. Visual Arts 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 12/2021, Visual Arts Foundation Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $310.0k during the year ending 12/2021. While expenses have increased by 7.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NOT-FOR-PROFIT ORGANIZATION THAT PROVIDES SCHOLARSHIPS FOR DESERVING STUDENTS STUDYING ART
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS, GRANTS, AND AWARDS FOR DESERVING STUDENTS PURSUING COURSES IN THE FIELD OF ART.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Nesin President | OfficerTrustee | 1 | $0 |
Jacqueline Hoffner Treasurer | OfficerTrustee | 1 | $0 |
Patti Greaney Director | Trustee | 1 | $0 |
Dee Ito Director | Trustee | 1 | $0 |
Paul Davis Director | Trustee | 1 | $0 |
Bashan Aquart Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,040,893 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,040,893 |
| Total Program Service Revenue | $0 |
| Investment income | $162,228 |
| 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 | $1,203,121 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $256,579 |
| 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 | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $275 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $8,333 |
| Insurance | $1,842 |
| All other expenses | $89 |
| Total functional expenses | $310,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,660 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $156,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,166 |
| Investments—publicly traded securities | $1,031,812 |
| Investments—other securities | $3,253,299 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $591,011 |
| Total assets | $5,109,948 |
| Accounts payable and accrued expenses | $3,550 |
| 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 | $0 |
| Total liabilities | $3,550 |
| Net assets without donor restrictions | $836,423 |
| Net assets with donor restrictions | $4,269,975 |
| 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 | $5,109,948 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Visual Arts Foundation Inc has recieved totaling $21,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: GENERAL SUPPORT | | $10,000 |
Organization Name not Listed PURPOSE: GENERAL SUPPORT | | $10,000 |
The Robert Mapplethorpe Foundation New York, NY PURPOSE: FOR DONEE'S EXEMPT PURPOSE | $1,000 |
Endowment Analysis
| Beg. Balance | $2,203,709 |
| Earnings | $479,806 |
| Net Contributions | $602,500 |
| Other Expense | $80,700 |
| Ending Balance | $3,205,315 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert Rauschenberg Foundation New York, NY | $498,786,006 | $26,542,072 |
Corporation Of Yaddo Saratoga Springs, NY | $58,580,101 | $4,491,706 |
Emerson Umbrella Inc Concord, MA | $32,547,256 | $2,816,448 |
The Elizabeth Foundation For The Arts New York, NY | $6,747,925 | $1,576,303 |
Kaatsbaan International Dance Center Inc Tivoli, NY | $2,917,016 | $1,601,121 |
Jane And Jack Fitzpatrick Tr Stockbridge, MA | $16,214,471 | $1,247,768 |
Association For Promotion Of Jewish Secularism Valley Stream, NY | $1,073,582 | $1,051,769 |
Volunteer Lawyers For The Arts Inc New York, NY | $1,760,254 | $1,417,543 |
Arts & Business Council Of Greater Boston Inc Boston, MA | $4,352,780 | $1,647,322 |
Womens Studio Workshop Inc Rosendale, NY | $1,606,567 | $544,946 |
New Brunswick Cultural Center Inc New Brunswick, NJ | $14,306,662 | $403,521 |
Smack Mellon Studios Inc Brooklyn, NY | $757,795 | $747,790 |