Hedda Sterne Foundation Inc
- Assets
- $6.2m
- Revenue
- $947.0k
- Investments
- $4.5m
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 05/2013
- Data as of
- 12/2021
- EIN
- 46-1812072
Organization Overview
Hedda Sterne Foundation Inc is located in Brooklyn, NY. The organization was established in 2013. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Hedda Sterne 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, Hedda Sterne Foundation Inc generated $947.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.8% each year . All expenses for the organization totaled $404.1k during the year ending 12/2021. While expenses have increased by 9.4% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING AND PRESERVING THE HEDDA STERNE ART COLLECTION AND ARCHIVES, CATALOGUING, EXPANDING, AND REFINING PHYSICAL AND DIGITAL RESOURCES TO FURTHER SUPPORT PUBLIC AND SCHOLARLY RESEARCH AND EXHIBITION.
EXPANDING PUBLIC ACCESSIBILITY TO THE ART OF HEDDA STERNE THROUGH PROGRAMS INCLUDING PHOTOGRAPHY AND DIGITIZATION OF ART AND ARCHIVAL MATERIALS IN THE FOUNDATION'S COLLECTION, LOANS OF ARTWORK FROM THE FOUNDATION'S COLLECTION FOR EXHIBITION, THE DEVELOPMENT AND MAINTENANCE OF THE FOUNDATIONS'S WEBSITE AND OTHER DIGITAL INITIATIVES.
SUPPORTING SCHOLARSHIP BY MAINTAINNG A DEDICATED RESEARCH AND STUDY CENTER, HOSTING VISITING RESEARCHERS, CURATORS, STUDENTS AND COLLEGE CLASS GROUPS, AND BY PROVIDING PHYSICAL AND DIGITAL ACCESS TO THE FOUNDATION'S COLLECTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shaina Larrivee Executive Director | 35 | $103,846 | |
Sanford Hirsch President | 15 | $0 | |
Sarah Eckhardt Vice President | 1 | $0 | |
Veronique Lindenberg Chairperson | 1 | $0 | |
Karen Van Lengen Secretary/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $130 |
| Dividends & Interest | $82,761 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $861,776 |
| Capital Gain Net Income | $861,776 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,289 |
| Total Revenue | $946,956 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $103,846 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $29,672 |
| Depreciation | $17,761 |
| Occupancy | $72,009 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $117,627 |
| Total operating and administrative expenses | $403,063 |
| Contributions, gifts, grants paid | $1,000 |
| Total expenses and disbursements | $404,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $553,789 |
| 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 | $1,710 |
| Other assets | $1,091,298 |
| Total assets | $6,179,970 |
| Accounts payable and accrued expenses | $5,967 |
| 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 | $8,647 |
| Total liabilities | $14,614 |
Grants Awarded
Over the last fiscal year, Hedda Sterne Foundation Inc has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHIVES OF AMERICAN ART PURPOSE: TOWARDS ARCHIVES DIGITIZATION PROJECT | $10,000 |
Johnson, VT PURPOSE: TOWARDS FELLOWSHIP SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shed Nyc Inc New York, NY | $621,442,218 | $102,270,782 |
Westchester Academic Library Directors Organization Inc New York, NY | $47,276,623 | $38,534,511 |
Pro Publica Inc New York, NY | $60,782,681 | $36,005,300 |
Pittsburgh Trust For Cultural Resources Pittsburgh, PA | $189,016,990 | $50,601,813 |
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |