Pearson Art Foundation Inc
- Assets
- $2.2m
- Revenue
- $102.5k
- Investments
- $949.8k
- Employees
- 0
- Location
- Ridgewood, NJ
- Founding
- 11/1970
- Data as of
- 09/2021
- EIN
- 23-7087276
Organization Overview
Pearson Art Foundation Inc is located in Ridgewood, NJ. The organization was established in 1970. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. Pearson Art 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, Pearson Art Foundation Inc generated $102.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $156.5k 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
EXHIBIT ART TO THE PUBLIC OVER 25,000 VISITORS ANUALLY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Perry Pearson Pres Pt | 10 | $49,800 | |
Kimberly Cooke VP Pt | 23 | $24,000 | |
Teresa Pearson VP Pt | 1 | $0 | |
Beverly Pearson VP Pt | 0 | $0 | |
Erika Pearson VP Pt | 0 | $0 | |
Lonnie Wollin Secy/treas Pt | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,099 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $87,544 |
| Capital Gain Net Income | $87,544 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$2,163 |
| Total Revenue | $102,480 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $73,800 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,436 |
| Depreciation | $772 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $193 |
| Printing and publications | $0 |
| Other expenses | $52,025 |
| Total operating and administrative expenses | $151,549 |
| Contributions, gifts, grants paid | $5,000 |
| Total expenses and disbursements | $156,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | -$21,801 |
| 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 | $23,663 |
| Other assets | $1,207,290 |
| Total assets | $2,158,932 |
| 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 | $2,445 |
| Total liabilities | $2,445 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Democracy Prep Public Schools New York, NY | $18,413,140 | $22,499,463 |
Theatre Development Fund Inc New York, NY | $10,654,511 | $12,739,705 |
New York Foundation For The Arts Inc Brooklyn, NY | $8,779,392 | $10,995,267 |
Moving Picture Institute New York, NY | $5,367,184 | $7,460,439 |
Liz Claiborne & Art Ortenberg Foundation New York, NY | $208,358,667 | $11,296,700 |
Pseg Foundation Inc Newark, NJ | $49,926,270 | $78,342 |
United Way Of Lancaster County Lancaster, PA | $8,532,432 | $6,314,775 |
Art Of Problem Solving Initiative Inc New York, NY | $11,649,838 | $7,944,885 |
Performance Zone Inc New York, NY | $3,205,718 | $5,815,345 |
America-Israel Cultural Foundation Inc New York, NY | $5,736,559 | $3,348,442 |
Music Performance Trust Fund New York, NY | $10,128,887 | $4,587,841 |
Aba Pathways Inc Monroe, NY | $523,879 | $2,142,341 |