Leon Polk Smith Foundation Inc
- Assets
- $11.4m
- Revenue
- $1.0m
- Investments
- $3.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 09/2012
- Data as of
- 12/2021
- EIN
- 45-4110224
Organization Overview
Leon Polk Smith Foundation Inc is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Leon Polk Smith 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 12/2021, Leon Polk Smith Foundation Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.6% each year . All expenses for the organization totaled $905.3k during the year ending 12/2021. While expenses have increased by 24.8% 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 2016, Leon Polk Smith Foundation Inc has awarded 28 individual grants totaling $323,900. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVATION, MAINTENANCE AND ENHANCEMENT OF THE WORK OF LEON POLK SMITH AND TO ENHANCE THE UNDERSTANDING OF THE CREATIVE ARTS DURING THE GEOMETRIC-ABSTRACTION PERIOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlotta Kotik Trustee/secretary | 0 | $0 | |
Carter Ratcliffe Trustee | 0 | $0 | |
Patterson Sims President | 0 | $0 | |
John Koegel Treasurer/chairman/trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $30,184 |
| Dividends & Interest | $77,131 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $404,529 |
| Capital Gain Net Income | $404,529 |
| Net ST Capital Gain | $22,817 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $488,809 |
| Other Income | $266 |
| Total Revenue | $1,000,919 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,459 |
| Depreciation | $0 |
| Occupancy | $73,286 |
| Travel, conferences, and meetings | $172 |
| Printing and publications | $0 |
| Other expenses | $594,592 |
| Total operating and administrative expenses | $775,812 |
| Contributions, gifts, grants paid | $129,500 |
| Total expenses and disbursements | $905,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $319,500 |
| 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 | $7,138,586 |
| Total assets | $11,360,486 |
| 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 |
Grants Awarded
Over the last fiscal year, Leon Polk Smith Foundation Inc has awarded $129,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
NATIVE ARTS & CULTURES PURPOSE: FURTHERANCE OF EXEMPT PURPOSE | $30,000 |
WOODSTOCK BYRDCLIFFE GUILD PURPOSE: FURTHERANCE OF EXEMPT PURPOSE | $25,000 |
CAMARGO FOUNDATION PURPOSE: FURTHERANCE OF EXEMPT PURPOSE | $25,000 |
New York, NY PURPOSE: FURTHERANCE OF EXEMPT PURPOSE | $25,000 |
New York, NY PURPOSE: FURTHERANCE OF EXEMPT PURPOSE | $12,000 |
New York, NY PURPOSE: FURTHERANCE OF EXEMPT PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY | $375,628,094 | $51,526,373 |
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |