Souls Grown Deep Foundation Inc
- Assets
- $4.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 06/2011
- Data as of
- 06/2022
- EIN
- 27-2457990
Organization Overview
Souls Grown Deep Foundation Inc is located in Atlanta, GA. The organization was established in 2011. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Souls Grown Deep 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 06/2022, Souls Grown Deep Foundation Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.4% each year . All expenses for the organization totaled $896.8k during the year ending 06/2022. While expenses have increased by 22.9% 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.
Since 2019, Souls Grown Deep Foundation Inc has awarded 11 individual grants totaling $158,235. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOULS GROWN DEEP FOUNDATION IS DEDICATED TO PROMOTING AFRICAN-AMERICAN ART OF THE SOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLACEMENT OF 102 WORKS OF ART INTO THE PERMANENT COLLECTIONS OF 6 MUSEUMS, INCLUDING THE STUDIO MUSEUM IN HARLEM AND THE TOLEDO MUSEUM OF ART. THESE ACQUISITIONS WERE THE BASIS FOR EXHIBITIONS INCLUDING "IN THE PRESENCE OF OUR ANCESTORS: SOUTHERN PERSPECTIVES IN AFRICAN AMERICAN ART" (MINNEAPOLIS INSTITUTE OF ART) AND "SHE KNEW WHERE SHE WAS GOING: GEE'S BEND QUILTS AND CIVIL RIGHTS" (BALTIMORE MUSEUM OF ART). PROVIDED LOANS TO MAJOR EXHIBITIONS IN LONDON, VENICE, AND ATLANTA. PROVIDED INTERNSHIPS FOR UNDERGRADUATE STUDENTS OF COLOR AT THE BALTIMORE MUSEUM OF ART, MUSEUM OF FINE ARTS, BOSTON, AND MINNEAPOLIS INSTITUTE OF ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Sherald Trustee | Trustee | 1 | $0 |
Diedrick Brackens Trustee | Trustee | 1 | $0 |
Franklin Sirmans Trustee | Trustee | 1 | $0 |
Jacquelyn Serwer Trustee | Trustee | 1 | $0 |
Jane Fonda Trustee | Trustee | 1 | $0 |
Linley Jones Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,327 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,327 |
| Total Program Service Revenue | $1,943,305 |
| Investment income | $16,325 |
| 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 | $1,963,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $57,458 |
| 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. | $301,770 |
| Compensation of current officers, directors, key employees. | $60,352 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,505 |
| Pension plan accruals and contributions | $3,386 |
| Other employee benefits | $6,824 |
| Payroll taxes | $20,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,428 |
| Fees for services: Accounting | $40,823 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,865 |
| Advertising and promotion | $0 |
| Office expenses | $164,701 |
| Information technology | $860 |
| Royalties | $11,515 |
| Occupancy | $64,903 |
| Travel | $9,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,135 |
| All other expenses | $0 |
| Total functional expenses | $896,758 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $471,584 |
| Savings and temporary cash investments | $250,312 |
| Pledges and grants receivable | $0 |
| 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 | $8,069 |
| Net Land, buildings, and equipment | $4,970 |
| Investments—publicly traded securities | $1,554,961 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,843,661 |
| Total assets | $4,133,557 |
| Accounts payable and accrued expenses | $76,918 |
| 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 | $0 |
| Total liabilities | $76,918 |
| Net assets without donor restrictions | $0 |
| 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 | $4,056,639 |
| Total liabilities and net assets/fund balances | $4,133,557 |
Grants Awarded
Over the last fiscal year, Souls Grown Deep Foundation Inc has awarded $53,164 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION OF ART MUSEUM DIRECTORS PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
BALTIMORE MUSEUM OF ART PURPOSE: INTERNSHIP PROGRAM | $10,833 |
MINNEAPOLIS INSTITUTE OF ART PURPOSE: INTERNSHIP PROGRAM | $10,833 |
MONTGOMERY MUSEUM OF FINE ARTS PURPOSE: GENERAL OPERATING SUPPORT | $5,665 |
MUSEUM OF FINE ARTS PURPOSE: INTERNSHIP PROGRAM | $10,833 |