Guston Foundation
- Assets
- $57.5m
- Revenue
- $1.2m
- Investments
- $26.5m
- Employees
- 0
- Location
- West Hurley, NY
- Founding
- 05/2013
- Data as of
- 12/2023
- EIN
- 46-1575176
Organization Overview
Guston Foundation is located in West Hurley, NY. The organization was established in 2013. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Guston 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, Guston Foundation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 5 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, Guston Foundation has awarded 33 individual grants totaling $211,150. 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
CATALOGUING AND ARCHIVING ALL THE WORKS PRODUCED BY THE ARTIST PHILIP GUSTON AND MAKING HIS WORK AVAILABLE TO FACILITATE ART EDUCATION AND RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Musa Mayer Director, President | 2 | $0 | |
Thomas Mayer Director, Vice President | 0.5 | $0 | |
Maurice M Reder Director, Treasurer (thru 10.01.2023) | 0.5 | $0 | |
Michael Conforti Director | 0.5 | $5,000 | |
Pamela A Mayer Director | 0.5 | $0 | |
Sarah Radic Executive Director | 40 | $181,182 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capital Group Private Client Services | 12/30/20 | $73,564 |
Elyse Topalian Llc | 12/30/20 | $58,125 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $31,949 |
| Dividends & Interest | $642,783 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $572,564 |
| Capital Gain Net Income | $572,564 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $86 |
| Total Revenue | $1,247,382 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $186,182 |
| Other employee salaries and wages | $353,062 |
| Pension plans, employee benefits | $138,517 |
| Interest | $0 |
| Taxes | $6,127 |
| Depreciation | $3,952 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $75,902 |
| Printing and publications | $0 |
| Other expenses | $99,812 |
| Total operating and administrative expenses | $1,180,324 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $1,210,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,055 |
| Savings and temporary cash investments | $964,182 |
| 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 | $21,139,587 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $30,056,451 |
| Total assets | $57,505,956 |
| 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, Guston Foundation has awarded $30,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN ACADEMY IN ROME PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
AMON CARTER MUSEUM OF AMERICAN ART PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
DOCTORS WITHOUT BORDERS PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
MASSACHUSETTS MUSEUM OF CONTEMPORARY ART FOUNDATION INC PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
STERLING & FRANCINE CLARK ART INST PURPOSE: GENERAL OPERATING SUPPORT | $1,500 |
THE FOUNDATION FOR AIDS RESEARCH PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |