Richard J Stern Foundation For The Arts
- Assets
- $49.5m
- Revenue
- $2.7m
- Investments
- $48.2m
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 00/0000
- Data as of
- 06/2023
- EIN
- 43-6313811
Organization Overview
Richard J Stern Foundation For The Arts is located in Kansas City, MO. The organization was established in 0000. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. Richard J Stern Foundation For The Arts 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 06/2023, Richard J Stern Foundation For The Arts generated $2.7m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $3.4m during the year ending 06/2023. While expenses have increased by 7.5% per year over the past 4 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 2020, Richard J Stern Foundation For The Arts has awarded 349 individual grants totaling $14,362,816. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Commerce Bankinv Mgmt Corporate Trustee | 40 | $201,126 | |
Commerce Bankcharity Office Corporate Trustee | 40 | $143,677 | |
Commerce Bankcharity Mgmt Corporate Trustee | 10 | $22,347 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,315,594 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,351,020 |
| Capital Gain Net Income | $1,351,020 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,666,614 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $367,150 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $777 |
| Printing and publications | $0 |
| Other expenses | $927 |
| Total operating and administrative expenses | $392,854 |
| Contributions, gifts, grants paid | $2,973,444 |
| Total expenses and disbursements | $3,366,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,255,974 |
| 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 | $2,759,302 |
| Investments—other | $5,338,702 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $49,459,573 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $769,400 |
| 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 | $769,400 |
Grants Awarded
Over the last fiscal year, Richard J Stern Foundation For The Arts has awarded $3,848,244 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
ART AS MENTORSHIP INC PURPOSE: 2023 REBEL SONG ACADEMY PROGRAM | $5,000 |
ART IN THE LOOP FOUNDATION PURPOSE: 2023 DOWNTOWN KC PUBLIC ART EXHIBITION & PERFORMANCE SERIES | $5,000 |
ARTS ENGAGEMENT FOUNDATION OF KANSAS CITY PURPOSE: KC STUDIO MAGAZINE | $30,000 |
BACH ARIA SOLOISTS PURPOSE: 2022/2023 SEASON SUPPORT | $10,000 |
BLACK REPERTORY THEATRE OF KANSAS CITY PURPOSE: ELEVATE IN SEASON 8 | $7,500 |
COTERIE INC PURPOSE: 2023/2024 SEASON SUPPORT | $30,000 |