Marwen Foundation
- Assets
- $19.9m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 07/1996
- Data as of
- 12/2023
- EIN
- 36-3523622
Organization Overview
Marwen Foundation is located in Chicago, IL. The organization was established in 1996. According to its NTEE Classification (A25) the organization is classified as: Arts Education, 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. Marwen 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 12/2023, Marwen Foundation generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MARWEN EDUCATES AND INSPIRES YOUNG PEOPLE FROM UNDER-RESOURCED COMMUNITIES AND SCHOOLS THROUGH FREE VISUAL ARTS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART STUDIO AND LAB - THROUGH COURSES AND WORKSHOPS, STUDENTS ARE EMPOWERED TO DEVELOP ARTISTIC SKILLS, EXPERIMENT WITH VARIOUS MEDIA, AND DISCOVER NEW INTERESTS AND IDEAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isa Pressman Chair | OfficerTrustee | 0.5 | $0 |
Todd Heiser Vice Chair | OfficerTrustee | 0.5 | $0 |
Molly Morse Limmer Secretary | OfficerTrustee | 0.5 | $0 |
Nils Larsen Treasurer | OfficerTrustee | 0.5 | $0 |
Mikaya Daniels Trustee | Trustee | 0.5 | $0 |
Steven P Berkowitz Trustee | Trustee | 0.5 | $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 | $2,310,365 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,310,365 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $2,310,365 |
| 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 | $1,351,706 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $278,626 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $47,314 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,497 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $191,470 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $196,153 |
| Insurance | $17,638 |
| All other expenses | $74,773 |
| Total functional expenses | $2,736,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $524,022 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $653,310 |
| 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 | $19,695 |
| Net Land, buildings, and equipment | $7,456,061 |
| Investments—publicly traded securities | $11,179,644 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,690 |
| Total assets | $19,910,422 |
| Accounts payable and accrued expenses | $142,744 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $3,708,822 |
| 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 | $3,851,566 |
| Net assets without donor restrictions | $15,392,055 |
| Net assets with donor restrictions | $666,801 |
| 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 | $19,910,422 |