Posner Fine Arts Foundation
- Assets
- $12.9m
- Revenue
- $55.3k
- Investments
- $302.5k
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 01/2000
- Data as of
- 07/2024
- EIN
- 25-1843104
Organization Overview
Posner Fine Arts Foundation is located in Pittsburgh, PA. The organization was established in 2000. According to its NTEE Classification (A54) the organization is classified as: History Museums, 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. Posner Fine Arts 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 07/2024, Posner Fine Arts Foundation generated $55.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $35.3k during the year ending 07/2024. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE POSNER FINE ARTS FOUNDATION WAS CREATED TO RECEIVE, OWN, MAINTAIN, PRESERVE AND UTILIZE FOR EDUCATIONAL, LITERARY AND ARTISTIC PURPOSES A COLLECTION OF RARE BOOKS AND MANUSCRIPTS AND JADE AND IVORY CARVINGS (THE "COLLECTION").
THE COLLECTION HAS BEEN ON LOAN TO CARNEGIE MELLON UNIVERSITY, WHICH HAS UTILIZED THE RARE BOOKS AND MANUSCRIPTS PORTION OF THE COLLECTION IN FURTHERANCE OF ITS EDUCATIONAL PURPOSES, MAKING THESE ASSETS AVAILABLE TO FACULTY, STUDENTS AND INTERESTED MEMBERS OF THE PUBLIC. THE REMAINDER OF THE COLLECTION, CONSISTING OF ARTISTIC CARVINGS AND OTHER ART OBJECTS, IS ON DISPLAY AT THE UNIVERSITY AND HAS BEEN SHOWN IN EXHIBITIONS.
THE FOUNDATION ALSO OWNS A MARITIME ART COLLECTION AND NAUTICAL ARTIFACTS WHICH ARE ON LOAN FOR EXHIBIT AT THE MARITIME MUSEUM OF THE STEAMSHIP HISTORICAL SOCIETY OF AMERICA (SSHSA). THIS FEATURED COLLECTION PRESERVES THE HISTORY OF MARITIME ARTWORK BY NOTEWORTHY ARTISTS FROM THE 19TH AND 20TH CENTURIES. THE COLLECTION SUPPORTS THE FURTHERANCE OF THE MISSION OF THE SSHSA AS A VITAL SOURCE AND AUTHORITY OF NAUTICAL AND MARITIME HISTORY FOR EDUCATIONAL PURPOSES BY MAKING IT AVAILABLE FOR PUBLIC VIEWING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Posner III Chairman/director | 0 | $0 | |
James T Posner Director | 0 | $0 | |
Paul M Posner Director | 0 | $0 | |
Anne M Molloy Director/executive Directo | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $20,173 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $35,160 |
| Capital Gain Net Income | $35,160 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $55,333 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,044 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,938 |
| Total operating and administrative expenses | $23,321 |
| Contributions, gifts, grants paid | $12,000 |
| Total expenses and disbursements | $35,321 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,334 |
| Savings and temporary cash investments | $166,237 |
| 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 | $0 |
| Other assets | $12,477,401 |
| Total assets | $12,948,459 |
| 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 | $0 |
| Total liabilities | $0 |