Museo Reina Sofia Foundation Usa Inc
- Assets
- $1.8m
- Revenue
- $604.3k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/2020
- Data as of
- 12/2021
- EIN
- 47-1608241
Organization Overview
Museo Reina Sofia Foundation Usa Inc is located in New York, NY. The organization was established in 2020. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Museo Reina Sofia Foundation USA 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, Museo Reina Sofia Foundation USA Inc generated $604.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $6.5m during the year ending 12/2021. 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
THE ORGANIZATION'S ARTWORK IS ON LOAN TO THE FUNDACION MUSEO REINA SOFIA, AN INTERNATIONALLY RENOWNED ART MUSEUM LOCATED IN MADRID, SPAIN, TO PERMIT MUSEUM PATRONS TO INCREASE THEIR APPRECIATION FOR AND UNDERSTANDING OF CONTEMPORARY ARTWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Henry President & Director | 5 | $0 | |
Jennifer Van DE Voorde Director | 5 | $0 | |
Joan Weakley Director | 5 | $0 | |
Ana Tome Diaz Secretary & Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $604,276 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $604,276 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $558 |
| Total operating and administrative expenses | $2,196 |
| Contributions, gifts, grants paid | $6,522,350 |
| Total expenses and disbursements | $6,524,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,332 |
| Savings and temporary cash investments | $0 |
| 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 | $1,669,950 |
| Total assets | $1,828,282 |
| 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, Museo Reina Sofia Foundation Usa Inc has awarded $6,522,350 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FUNDACION MUSEO REINA SOFIA PURPOSE: DONATED ARTWORK BY MARK BRADFORD TO BE DISPLAYED AT THE MUSEO REINA SOFA (MADRID) | $6,000,000 |
FUNDACION MUSEO REINA SOFIA PURPOSE: DONATED ARTWORK BY MARCEL BROODTHAERS TO BE DISPLAYED AT THE MUSEO REINA SOFA (MADRID) | $297,350 |
FUNDACION MUSEO REINA SOFIA PURPOSE: SUPPORT TO ACQUIRE ADDITIONAL ARTWORKS TO BE DISPLAYED AT THE MUSEO REINA SOFA (MADRID) | $125,000 |
FUNDACION MUSEO REINA SOFIA PURPOSE: SUPPORT TO ACQUIRE ADDITIONAL ARTWORKS TO BE DISPLAYED AT THE MUSEO REINA SOFA (MADRID) | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Museo Reina Sofia Foundation Usa Inc has recieved totaling $16,995.
| Awarding Organization | Amount |
|---|---|
Robert S Wennett And Mario Cader-French Foundation Inc Miami, FL PURPOSE: TO FURTHER THE ACTIVITIES FOR WHICH IT WAS ACCORDED TAX EXEMPT STATUS UNDER IRC SEC. 501(C)(3). | $16,995 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |
American Friends Of The National Portrait Gallery Foundation Inc New York, NY | $1,343,323 | $3,284,122 |
Academy Of Music Of Philadelphia Inc Philadelphia, PA | $30,910,650 | $3,266,946 |
Coolidge Corner Theatre Foundation Inc Brookline, MA | $13,995,984 | $5,567,271 |
Boston Arts Academy Foundation Inc Boston, MA | $11,130,374 | $3,508,715 |