Romare Bearden Foundation Inc
- Assets
- $2.7m
- Revenue
- $493.0k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 01/2004
- Data as of
- 12/2022
- EIN
- 30-0207085
Organization Overview
Romare Bearden Foundation Inc is located in New York, NY. The organization was established in 2004. 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 12/2022, Romare Bearden Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Romare Bearden 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 12/2022, Romare Bearden Foundation Inc generated $493.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.6% each year . All expenses for the organization totaled $283.0k during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PERPETUATE ROMARE BEARDEN'S ARTISTIC AND INTELLECTUAL LEGACIES, AND TO PROMOTE PUBLIC AWARENESS AND APPRECIATION OF THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATALOGUE RAISONNE PROJECT. PHASE TWO: PHOTOGRAPHING NEW WORKS, CONNECTING WITH COLLECTORS AND GALLERIES FOR RESEARCH AND MATERIALS, AND ORAL HISTORIES FOR THE ONLINE DIGITAL CATALOGUE PROJECT. PARTNER: WILDENSTEIN PLATTNER INSTITUTE-RESEARCH IN WOODSTOCK NY, AUCTION HOUSES, BEARDEN MURAL (BMCC), PROMOTED CATALOGUE PROJECT WITH WPI- CODIRECTOR JOHANNE PARTICIPATES IN ORAL HISTORY PROGRAM; AND PARTICIPATED IN RELEASE OF ARCHIVE MATERIALS.
THE FOUNDATION DEVELOPED AND PRESENTED THE "CINQUE ARTIST PROGRAM" ARTIST TALK SERIES IN PARTNERSHIP WITH THE HARLEM SCHOOL OF THE ARTS. SPEAKERS ARE PAID AN HONORARIUM. MARCH 21, 2022, MAKING AWARD-WINNING DOCUMENTARY FILMS ON ARTISTS WITH STANLEY NELSON AND NELSON BREEN; JUNE 30, 2022, A DEALER TELLS HER STORY: A CONVERSATION WITH PEG ALSTON (VIRTUAL PROGRAM); MAY 2, 2022, ARTIST TALK WITH ALISHA WORMSLEY; NOV 17, 2022 ARTIST TALK WITH RAMONA CANDY: DEC 15, 2022 CHARLES MARTIN; HOSTED ROMARE BEARDEN GRADUATE FELLOWHIP FOR VIRTUAL RESIDENCY- JUNE 2022 PARTNER ST. LOUIS ART MUSEUM, CREATED DIGITAL AUDIENCE POLL.
FOUNDATION RESEARCH FOR EXHIBITION CURATORS/RESEARCHERS, AND SCHOLARS, ENCOURAGING NEW EXHIBITIONS AND PUBLICATIONS ON THE ARTIST. FOUNDATION REPRESENTATION AT SEVERAL CONFERENCES AND INITIATIVE MEETINGS, INCLUDING THE HARLEM SEMESTER INITIATIVE AT BARNARD COLLEGE- (ONGOING SPRING 2022) AND OPEN HOUSE WITH HARLEM CULTURAL COLLABORATION (ONGOING); ARTIST ENDOWED FOUNDATION FORUM, PARTICIPATED IN CONSORTIUM DEVELOPMENT FOR DIVERSITY EQUITY AND INCLUSION INTERNSHIP OPPORTUNITIES FOR BIPOC STUDENTS (OCT. 2022- ANNUAL FORUM); CO-DIRECTOR PERFORMS TALK IN SEATTLE AS OUR TRAVELING SHOW VISITS THE FRYE MUSEUM IN SEATTLE; DEC 2022- CO-DIRECTORS ATTEND ART BASEL MIAMI, FACILITATE SPECIAL BOARD RETREAT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emilie DE Brigard Director | Trustee | 1 | $0 |
Tallal I Elboushi Chairman | OfficerTrustee | 1 | $0 |
Akosua Barthwell Evans Director | Trustee | 1 | $0 |
Alva G Greenberg Director | Trustee | 1 | $0 |
Irie Harris Director | Trustee | 1 | $0 |
Ronald David Jackson Director | 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 | $208,739 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,739 |
| Total Program Service Revenue | $0 |
| Investment income | $76 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $31,691 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $252,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $493,006 |
| 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 | $155,852 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $143 |
| Payroll taxes | $13,661 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,368 |
| Fees for services: Accounting | $16,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,842 |
| Advertising and promotion | $0 |
| Office expenses | $18,090 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,988 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,622 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $741 |
| Insurance | $17,697 |
| All other expenses | $0 |
| Total functional expenses | $283,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $336,308 |
| Savings and temporary cash investments | $630,165 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,523 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,726,750 |
| Total assets | $2,730,657 |
| Accounts payable and accrued expenses | $25,692 |
| 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 | $65,584 |
| Total liabilities | $91,276 |
| Net assets without donor restrictions | $2,163,176 |
| Net assets with donor restrictions | $476,205 |
| 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 | $2,730,657 |