Cue Art Foundation
- Assets
- $1.7m
- Revenue
- $889.3k
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 11/2003
- Data as of
- 12/2021
- EIN
- 54-2064462
Organization Overview
Cue Art Foundation is located in New York, NY. The organization was established in 2003. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Cue Art Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cue Art 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 12/2021, Cue Art Foundation generated $889.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $841.1k during the year ending 12/2021. While expenses have increased by 4.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT FORUM FOR CONTEMPORARY ART AND UNDER-RECOGNIZED ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS PROGRAM: CUE'S EXHIBITION PROGRAM PRESENTS NEW AND EXCEPTIONALLY STRONG WORK BY EMERGING AND UNDER-RECOGNIZED ARTISTS FROM ACROSS THE UNITED STATES, WHILE PROVIDING THESE ARTISTS WITH EXPOSURE AND RESOURCES TO HELP THEM FORWARD THEIR ARTISTIC CAREER. CUE CURRENTLY EXHIBITS 5 ARTISTS IN SOLO EXHIBITIONS, WHICH ARE CURATED BY WELL-KNOWN ARTISTIC INDIVIDUALS WHO HELP THE ARTISTS SELECT THEIR WORK FOR THE EXHIBITION. 2 OF THESE 5 EXHIBITIONS ARE SELECTED THROUGH AN OPEN CALL PROCESS. CUE ALSO PRESENTS ONE GROUP EXHIBITION PER YEAR SELECTED VIA AN OPEN CALL PROCESS. CUE PUBLISHES A FULL-COLOR CATALOGUE FOR EACH EXHIBITION, WHICH IS OFFERED FOR FREE TO THE GENERAL PUBLIC. APPROXIMATELY 5,000 PEOPLE VISIT THE EXHIBITION PROGRAM ANNUALLY.
CUE TEEN COLLECTIVE: THE CUE TEEN COLLECTIVE IS A FREE, YEAR-LONG AFTER SCHOOL PROGRAM FOR NYC HIGH SCHOOL STUDENTS WHO ARE INTERESTED IN EXPLORING CAREERS IN THE FINE ARTS. PARTICIPANTS MEET ON WEDNESDAY AFTERNOONS FROM OCTOBER THROUGH MAY TO INVESTIGATE THE CONTEMPORARY ART WORLD, DEVELOP PROFESSIONAL SKILLS, AND PRODUCE ARTWORK FOR A GROUP EXHIBITION IN CUE'S GALLERY SPACE. DURING TALKS WITH ARTISTS AND CURATORS, VIRTUAL FIELD TRIPS TO GALLERY AND MUSEUM SHOWS AND GROUP CRITIQUE SESSIONS, STUDENTS HAVE THE OPPORTUNITY TO ASK QUESTIONS OF WORKING ARTS PROFESSIONALS ABOUT THEIR CAREERS AND PRACTICES, LEARNING ABOUT VARIOUS APPROACHES TO CAREERS IN THE ARTS. IN THE SPRING, STUDENTS PRESENT ORIGINAL ARTWORK PRODUCED OVER THE COURSE OF THE PROGRAM, ACCOMPANIED BY A FULL-COLOR CATALOGUE. THE PROGRAM HOSTS APPROXIMATELY 24 CLASS SESSIONS PER YEAR WITH 10-25 PARTICIPANTS AND TWO TEACHERS.
MEETING ARTISTS' NEEDS (MAN): IS A SERIES OF PROFESSIONAL DEVELOPMENT SEMINARS AND CRITICAL DISCOURSE PANELS AND DISCUSSIONS THAT PROVIDE EMERGING PROFESSIONAL ARTISTS AND ARTS WORKERS OF ALL AGES WITH A SET OF DURABLE ARTS MANAGEMENT SKILLS AS WELL AS INSIGHT INTO PRESSING TOPICS IN THE FIELD. IT IS DESIGNED TO COMPLEMENT THE FINE ARTS TRAINING THAT MOST RECEIVE IN ACADEMIC ARTS PROGRAMS, OR PROVIDE TRAINING FOR THOSE WHO HAVE NOT GONE THROUGH SUCH ACADEMIC PROGRAMS. CUE'S MAN PROGRAMMING INTRODUCES PARTICIPANTS TO A HOST OF PROFESSIONALS INVOLVED IN THE ART WORLD, FROM DEALERS AND CRITICS TO WRITERS, ACCOUNTANTS, AND DESIGNERS, EACH OF WHOM SHARE THEIR EXPERTISE AND INSIGHTS ON AN INTERACTIVE BASIS. THE PROGRAM IS OPEN AND FREE TO THE PUBLIC.
AON AND EVERCORE / CUE ARTIST EMPOWERMENT AWARD; ART CRITIC MENTORING PROGRAM; INTERNSHIP PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corina Larkin Executive Director | Officer | 40 | $87,811 |
Thomas Ky Hsu Chairman | OfficerTrustee | 2 | $0 |
Theodore Berger President | OfficerTrustee | 2 | $0 |
Kyle Sheahen Co-Treasurer | OfficerTrustee | 2 | $0 |
Kate Buchanan Vice President | OfficerTrustee | 2 | $0 |
John S Kiely Co-Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $800 |
| Fundraising events | $41,699 |
| Related organizations | $0 |
| Government grants | $336,045 |
| All other contributions, gifts, grants, and similar amounts not included above | $443,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $821,844 |
| Total Program Service Revenue | $13,794 |
| Investment income | $265 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $33,601 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $889,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $97,025 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,811 |
| Compensation of current officers, directors, key employees. | $17,562 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $272,938 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,722 |
| Payroll taxes | $31,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $43,334 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,020 |
| Advertising and promotion | $1,879 |
| Office expenses | $22,745 |
| Information technology | $5,555 |
| Royalties | $0 |
| Occupancy | $47,781 |
| Travel | $1,156 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,778 |
| Insurance | $6,784 |
| All other expenses | $0 |
| Total functional expenses | $841,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,267 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $125,700 |
| Accounts receivable, net | $93,605 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,241 |
| Net Land, buildings, and equipment | $1,159,924 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,721,737 |
| Accounts payable and accrued expenses | $28,945 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $178,945 |
| Net assets without donor restrictions | $1,413,792 |
| Net assets with donor restrictions | $129,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,721,737 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Cue Art Foundation has recieved totaling $35,040.
| Awarding Organization | Amount |
|---|---|
Hyde And Watson Foundation Warren Township, NJ PURPOSE: HARD COSTS RELATED TO FACILITY RENOVATIONS AND IMPROVEMENTS. | $10,000 |
Milton And Sally Avery Arts Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Hillman Family Foundations Pittsburgh, PA PURPOSE: CUE TEEN COLLECTIVE | $10,000 |
Srs Family Foundation Inc Florham Park, NJ PURPOSE: GENERAL UNRESTRICTED | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
Endowment Analysis
| Beg. Balance | $1,509,313 |
| Net Contributions | $145,700 |
| Other Expense | $72,949 |
| Ending Balance | $1,582,064 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
Philadelphia Museum Of Art Philadelphia, PA | $1,255,022,756 | $116,812,968 |
Solomon R Guggenheim Foundation New York, NY | $240,294,871 | $73,166,662 |
Brooklyn Institute Of Arts And Sciences Brooklyn, NY | $388,418,074 | $82,546,120 |
Sterling & Francine Clark Art Inst Williamstown, MA | $670,367,352 | $8,296,004 |
Frick Collection New York, NY | $548,300,043 | $37,986,909 |
Barnes Foundation Philadelphia, PA | $223,515,679 | $21,249,120 |
Isabella Stewart Gardner Museum Inc Boston, MA | $347,979,013 | $30,352,820 |
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Institute Of Contemporary Art Boston, MA | $121,321,339 | $26,427,567 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |