Modern Artlife Foundation
- Assets
- $1.0m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Montvale, NJ
- Founding
- Data as of
- 12/2022
- EIN
- 61-1865805
Organization Overview
Modern Artlife Foundation is located in Montvale, NJ. According to its NTEE Classification (A25) the organization is classified as: Arts Education, 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. Modern Artlife 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 12/2022, Modern Artlife Foundation generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS FORMED FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF EDUCATING THE PUBLIC ABOUT MODERN RUSSIAN CULTURE, INCLUDING THE ARTS, AND FOR THE PURPOSES OF PROMOTING THE ARTS BY HOSTING EVENTS, INCLUDING MUSIC PERFORMANCES, THEATER AND DANCE PRODUCTIONS, FILM SCREENINGS AND LECTURES, ALL OF WHICH IS OPEN TO THE PUBLIC AND CONDUCTED ON A NON-COMMERCIAL BASIS. THE ORGANIZATION CHARGES ADMISSION FEES ON A DISCRETIONARY BASIS FOR SOME EVENTS TO OFFSET EXPENSES,BUT OTHERS WILL BE OFFERED TO THE PUBLIC AT NO CHARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sofia Kapkova Dir./president | 40 | $282,916 | |
Lisa Rozov Director | 5 | $20,785 | |
Anastasia Gudkova Director | 12.5 | $66,503 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,832,366 |
| Interest on Savings | $160 |
| 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 | $59,735 |
| Total Revenue | $2,892,261 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $199,783 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,403 |
| Depreciation | $976 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $213,554 |
| Printing and publications | $0 |
| Other expenses | $1,380,995 |
| Total operating and administrative expenses | $2,152,560 |
| Contributions, gifts, grants paid | $5,000 |
| Total expenses and disbursements | $2,157,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,245 |
| Savings and temporary cash investments | $729,115 |
| 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 | $6,298 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,902 |
| Other assets | $0 |
| Total assets | $1,030,560 |
| Accounts payable and accrued expenses | $633 |
| 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 | $633 |