Pearson Art Foundation Inc
- Assets
- $2.1m
- Revenue
- $99.8k
- Investments
- $805.3k
- Employees
- 0
- Location
- Ridgewood, NJ
- Founding
- 11/1970
- Data as of
- 09/2023
- 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 09/2023, Pearson Art Foundation Inc generated $99.8k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $180.3k during the year ending 09/2023. While expenses have increased by 2.7% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
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 | |
Teresa Pearson VP Pt | 1 | $0 | |
Erika Pearson VP Pt | 0 | $0 | |
Kimberly Cooke VP Pt | 23 | $24,000 | |
Lonnie Wollin Secy/treas Pt | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $14,802 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $86,735 |
| Capital Gain Net Income | $86,735 |
| Net ST Capital Gain | $196 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,702 |
| Total Revenue | $99,835 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $73,800 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $60 |
| Taxes | $8,053 |
| Depreciation | $772 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,675 |
| Printing and publications | $0 |
| Other expenses | $67,491 |
| Total operating and administrative expenses | $170,266 |
| Contributions, gifts, grants paid | $10,083 |
| Total expenses and disbursements | $180,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $58,357 |
| 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 | $22,121 |
| Other assets | $1,207,290 |
| Total assets | $2,093,055 |
| 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 | $2,334 |
| Total liabilities | $2,334 |
Grants Awarded
Over the last fiscal year, Pearson Art Foundation Inc has awarded $10,083 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LAKE OKOBOJI THEATER CAMP PURPOSE: CHARITABLE | $10,000 |
CHILDRENS MUSEUM PURPOSE: EDUCATIONAL | $83 |