Ps1 Contemporary Art Center Inc
- Assets
- $8.0m
- Revenue
- $9.7m
- Investments
- $226.0k
- Employees
- 102
- Location
- Long Island City, NY
- Founding
- 07/1981
- Data as of
- 06/2022
- EIN
- 23-7379091
Organization Overview
Ps1 Contemporary Art Center Inc, operating under the name Moma Ps1, is located in Long Island City, NY. The organization was established in 1981. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Moma Ps1 employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moma Ps1 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 06/2022, Moma Ps1 generated $9.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $10.3m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ORGANIZE AND PRESENT CONTEMPORARY ART EXHIBITIONS AND PROGRAMS ACROSS ALL ARTISTIC DISCIPLINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONSMOMA PS1 PRESENTS THE WORK OF EMERGING ARTISTS, ESTABLISHED ARTISTS WORKING IN NEW GENRES, AND OVERALL, PRESENTING TO THE PUBLIC WORKS OF CONTEMPORARY ART THAT ARE ENGAGING, CHALLENGING, AND GROUND-BREAKING ARTWORK IN A UNIQUE, ACCESSIBLE VENUE.
LIVE PROGRAMSSINCE ITS FOUNDING IN 1976, MOMA PS1 HAS OFFERED AUDIENCES ONE OF THE MOST EXTENSIVE PROGRAMS OF LIVE PERFORMANCE IN THE WORLD. MOMA PS1'S PIONEERING OUTDOOR MUSIC SERIES WARM UP IS ONE OF THE LONGEST RUNNING MUSIC PROGRAMS HOUSED WITHIN A MUSEUM. AS AN INTEGRAL PART OF MOMA PS1'S CURATORIAL PROGRAM FOR MORE THAN 20 YEARS, WARM UP SEEKS TO ELEVATE INNOVATIVE AND UNDERREPRESENTED VOICES: EMERGING AND ESTABLISHED, LOCAL AND GLOBAL, AND ACROSS GENRES. DUE TO THE PANDEMIC WARM UP DID NOT TAKE PLACE IN FY 22.
EVENTS & RETAILMINA'S, IS AN ALL-DAY CAFE FROM CHEF MINA STONE.INFORMED BY LESSONS FROM HER GREEK GRANDMOTHER, STONE'S DECEPTIVELYSIMPLE, MEDITERRANEAN-INSPIRED CUISINE IS AN HOMAGE TO THE SLOW-COOKED,HOMESTYLE DISHES TYPICALLY FOUND ON FAMILY DINNER TABLES THROUGHOUTGREECE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Arison Chairman | OfficerTrustee | 1 | $0 |
Philip E Aarons Vice Chairman | OfficerTrustee | 1 | $0 |
Simon Mordant Vice Chairman | OfficerTrustee | 1 | $0 |
James Grooms Secretary | OfficerTrustee | 1 | $0 |
John L Thomson Treasurer | OfficerTrustee | 1 | $0 |
Elyse Benenson Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Protection Service Lp Building Security | 6/29/22 | $741,754 |
Susan Courtemanche Professional Fees | 6/29/22 | $109,000 |
Sapphire Eagle Llc Professional Fees | 6/29/22 | $523,144 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,632,462 |
| Related organizations | $0 |
| Government grants | $1,001,558 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,457,437 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,091,457 |
| Total Program Service Revenue | $518,289 |
| Investment income | $14,946 |
| 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 | $9,702,873 |
| 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. | $606,645 |
| Compensation of current officers, directors, key employees. | $130,714 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,253,691 |
| Pension plan accruals and contributions | $268,057 |
| Other employee benefits | $415,275 |
| Payroll taxes | $277,688 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,080 |
| Fees for services: Accounting | $32,193 |
| Fees for services: Lobbying | $1,875 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $289,280 |
| Office expenses | $150,369 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,727,673 |
| Travel | $150,098 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,400 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,285 |
| Insurance | $95,021 |
| All other expenses | $0 |
| Total functional expenses | $10,323,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,563,510 |
| Savings and temporary cash investments | $2,993,638 |
| Pledges and grants receivable | $1,155,376 |
| 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 | $1,081,572 |
| Net Land, buildings, and equipment | $942,539 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $226,013 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,962,648 |
| Accounts payable and accrued expenses | $1,451,526 |
| 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 | $196,971 |
| Total liabilities | $1,648,497 |
| Net assets without donor restrictions | $1,244,999 |
| Net assets with donor restrictions | $5,069,152 |
| 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 | $7,962,648 |