Artsquest Foundation
- Assets
- $13.3m
- Revenue
- $328.6k
- Investments
- $4.3m
- Employees
- 1
- Location
- Bethlehem, PA
- Founding
- 06/2004
- Data as of
- 12/2021
- EIN
- 20-0652958
Organization Overview
Artsquest Foundation is located in Bethlehem, PA. The organization was established in 2004. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Artsquest 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, Artsquest Foundation generated $328.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $356.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 7 years. 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
TO COLLECT AND MANAGE DONATIONS AND TO SUPPORT ARTSQUEST AND THEIR PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP A PLANNED GIVING PROGRAM TO SUPPORT ARTSQUEST; ENCOURAGE LONG-TERM FINANCIAL SUPPORT FOR ARTSQUEST; MANAGE AND INVEST THE FUNDS CONTRIBUTED TO THE FOUNDATION; MAKE DONATIONS TO ARTSQUEST TO SUPPORT ITS PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Selena L Lavonier Executive Director | OfficerTrustee | 20 | $107,345 |
Tom Riddle President | OfficerTrustee | 1 | $0 |
Michael Perrucci Vice Chair | OfficerTrustee | 1 | $0 |
Jason Cort Secretary | OfficerTrustee | 1 | $0 |
Joseph Pietrantonio Treasurer | OfficerTrustee | 1 | $0 |
David Lobach Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $47,403 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $89,463 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,866 |
| Total Program Service Revenue | $0 |
| Investment income | $22,294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $182,606 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $328,571 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $107,345 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,664 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,042 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,030 |
| Fees for services: Other | $0 |
| Advertising and promotion | $125 |
| Office expenses | $337 |
| 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 | $178,000 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $356,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $285,199 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $60,000 |
| Accounts receivable, net | $8,500 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,320,497 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,587,862 |
| Total assets | $13,262,058 |
| Accounts payable and accrued expenses | $22,110 |
| 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 | $2,724,139 |
| Total liabilities | $2,746,249 |
| Net assets without donor restrictions | $8,981,943 |
| Net assets with donor restrictions | $1,533,866 |
| 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 | $13,262,058 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Artsquest Foundation has recieved totaling $17,500.
| Awarding Organization | Amount |
|---|---|
United Way Of The Greater Lehigh Valley Allentown, PA PURPOSE: DONOR DESIGNATED FOR GENERAL SUPPORT | $10,000 |
Martin Guitar Charitable Foundation Nazareth, PA PURPOSE: GENERAL DONATION | $5,000 |
Martin D Cohen Family Foundation Bethlehem, PA PURPOSE: CHARITIES | $2,500 |
Endowment Analysis
| Beg. Balance | $1,499,651 |
| Earnings | $186,214 |
| Other Expense | $162,000 |
| Ending Balance | $1,523,865 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Friends Of The Israel Museum New York, NY | $210,139,805 | $22,216,217 |
Friends Of Bezalel Academy Of Arts And Designs Inc New York, NY | $2,039,900 | $22,554,800 |
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
Toledo Alliance For The Performing Arts Toledo, OH | $24,676,048 | $6,839,703 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
Air Force Museum Foundation Inc Wright Patterson Afb, OH | $28,184,823 | $8,102,292 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |