Ukrainian Institute Of Modern Art
- Assets
- $996.9k
- Revenue
- $317.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 06/1972
- Data as of
- 12/2021
- EIN
- 23-7186981
Organization Overview
Ukrainian Institute Of Modern Art is located in Chicago, IL. The organization was established in 1972. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Ukrainian Institute Of Modern Art employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ukrainian Institute Of Modern Art 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, Ukrainian Institute Of Modern Art generated $317.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $271.8k during the year ending 12/2021. While expenses have increased by 6.2% 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
THE INSTITUTE SERVES THE COMMUNITY AS AN EDUCATIONAL ART CENTER, FEATURING ART EXHIBITS AND PERMANENT ART COLLECTION AND PROMOTES LITERARY EVENINGS, MUSICAL CONCERTS AND LECTURES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ATTACHED SHEET
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Motria Melnyk President | OfficerTrustee | 25 | $0 |
Marta Farion Vice President | OfficerTrustee | 5 | $0 |
Lubomyr Klymkowych Treasurer | OfficerTrustee | 10 | $0 |
Orysia Cardoso Chairperson | OfficerTrustee | 5 | $0 |
Oleh Kowerko Secretary | OfficerTrustee | 5 | $0 |
Yaro Melnyk Legal Council | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,814 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $227,973 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $254,787 |
| Total Program Service Revenue | $22,670 |
| Investment income | $4,425 |
| 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 | $317,760 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $108,849 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,754 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,901 |
| Office expenses | $0 |
| 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 | $12,199 |
| Interest | $4,973 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,636 |
| Insurance | $8,069 |
| All other expenses | $24,622 |
| Total functional expenses | $271,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $645,225 |
| Pledges and grants receivable | $27,500 |
| 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 | $5,100 |
| Net Land, buildings, and equipment | $311,242 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,809 |
| Total assets | $996,876 |
| Accounts payable and accrued expenses | $4,184 |
| 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 | $152,187 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $156,371 |
| Net assets without donor restrictions | $840,505 |
| Net assets with donor restrictions | $0 |
| 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 | $996,876 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ukrainian Institute Of Modern Art has recieved totaling $70,110.
| Awarding Organization | Amount |
|---|---|
Heritage Foundation Of First Security Federal Sav Bank Inc Chicago, IL PURPOSE: UNRESTRICTED | $50,000 |
Selfreliance Foundation Chicago, IL PURPOSE: GENERAL EXPENSES | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $110 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Architecture Foundation Chicago, IL | $18,456,323 | $14,699,492 |
Fenestration And Glazing Industry Alliance Schaumburg, IL | $6,384,205 | $4,966,632 |
Fibre Box Association Itasca, IL | $1,560,987 | $3,611,412 |
Hyde Park Art Center Chicago, IL | $13,112,741 | $7,741,893 |
Master Craftsmen Foundation Kansas City, MO | $0 | $269 |
Arts Club Of Chicago Chicago, IL | $22,777,301 | $152,339 |
Graham Foundation For Advanced Studies In The Fine Arts Chicago, IL | $0 | $687,158 |
Midwest Old Settlers And Threshers Assn Inc Mt Pleasant, IA | $5,724,252 | $3,761,020 |
Laumeier Sculpture Park St Louis, MO | $5,586,221 | $2,296,143 |
Craft Alliance St Louis, MO | $3,775,459 | $2,483,894 |
Lillian Florsheim Foundation for Fine Arts Chicago, IL | $0 | $525,901 |
Intuit The Center For Intuitive And Outside Art Chicago, IL | $2,150,549 | $1,698,097 |