Friends Of Materials For The Arts Inc is located in Long Island City, NY. The organization was established in 2002. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Friends Of Materials For The Arts Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Materials For The Arts 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 06/2022, Friends Of Materials For The Arts Inc generated $740.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $600.4k during the year ending 06/2022. While expenses have increased by 2.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING NYC'S ARTS AND PUBLIC SCHOOL COMMUNITIES WITH EDUCATIONAL PROGRAMS AND MATERIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION CENTER, ARTIST-IN-RESIDENCE, GALLERY PROGRAM, AND THIRD THURSDAY PROGRAM THE MFTA EDUCATION CENTER WHICH HOSTS OUR FIELD TRIP PROGRAM, ARTIST-IN-RESIDENCE, DESIGNER-IN-RESIDENCE, THE MFTA GALLERY AND FREE PUBLIC THIRD THURSDAY WORKSHOPS, EXPOSE THE WORK OF MANY ARTISTS TO THE PARTICIPANTS WITHIN THE MFTA EDUCATION CENTER AND PROVIDE A REMARKABLE BENEFIT TO OVER 4,200 ACTIVE MEMBER GROUPS AS WELL AS THE GENERAL PUBLIC. THESE PROGRAMS ARE INTEGRAL TO THE MISSION OF SUPPORTING REUSE ARTS EDUCATION AND PROMOTING CREATIVE REUSE AS A VIABLE PRACTICE FOR ARTISTS AND ARTS ORGANIZATIONS. SCHOOLS ACROSS THE FIVE BOROUGHS PARTICIPATE IN OUR IN PERSON FIELD TRIP PROGRAM THAT HAPPENS DAILY WITHIN OUR WAREHOUSE. TEACHERS AND STUDENTS LEARN ABOUT CREATIVE REUSE FROM OUR STAFF OF TEACHING ARTISTS WHILE MAKING THEIR OWN ART THAT THEY MAKE TAKE HOME. ARTISTS IMPLEMENTING CREATIVE REUSE IN THEIR WORK ARE ELIGIBLE FOR OUR RESIDENCY PROGRAM WHERE THEY HAVE THE OPPORTUNITY TO CREATE A GALLERY SHOW USING MATERIALS FROM OUR WAREHOUSE. EACH YEAR, OUR ARTIST IN RESIDENCE PROGRAM OFFERS 3 ARTISTS, STUDIO SPACE AND ACCESS TO OUR 35,000 SQUARE FEET OF MATERIALS TO CREATE ARTWORK WHICH IS THEN EXHIBITED IN OUR GALLERY. AN EXCITING COMPONENT TO MATERIALS FOR THE ARTS IS OUR ENTRYWAY, WHICH HOLDS OUR GALLERY AND OPENS INTO THE WAREHOUSE. THE ART IN OUR GALLERY SPACE ALLOWS OUR STUDENTS AND VISITORS TO ENVISION HOW THE MATERIALS COME TOGETHER, IN THE TRUE SPIRIT OF "CREATIVE REUSE" WHICH ARE THOUGHT-PROVOKING AND INNOVATIVE WORKS OF ART. WORKSHOPS WITH OUR ARTIST-IN-RESIDENCE AND DESIGNER-IN RESIDENCE PROGRAMS HELP TO CREATE PROGRAMMING TOUCHPOINTS FOR SCHOOLS IN OUR NETWORK ALLOWING US TO HELP TEACHERS TAKE FULL ADVANTAGE OF MFTA'S MULTIFACETED RESOURCES. THIS INCLUDES ENCOURAGING SCHOOLS TO SHOP IN THE WAREHOUSE, PARTICIPATE IN PROFESSIONAL DEVELOPMENT OPPORTUNITIES, FIELD TRIPS, IN-SCHOOL RESIDENCIES, AS WELL AS TAKE PART IN OUR IN-SCHOOL AND IN-HOUSE WORKSHOPS. OUR COLLABORATIVE APPROACH IS CATALYZED THROUGH OUR ARTISTS WHO ACT AS AMBASSADORS PROMOTING ENVIRONMENTAL SUSTAINABILITY AND EMPOWERING YOUTH. AN INTEGRAL PART OF FRIENDS OF MATERIAL FOR THE ARTS' MISSION IS TO SUPPORT AND STRENGTHEN THE WORK OF EMERGING ARTISTS, NONPROFIT ARTS ORGANIZATIONS AND THE CULTURAL COMMUNITY OF NEW YORK CITY. MFTA ENGAGES WITH THE GENERAL PUBLIC THROUGH OUR THIRD THURSDAY EVENTS. THESE EVENTS ARE HELD BOTH VIRTUALLY AND IN PERSON, HOSTED BY OUR GALLERY DIRECTOR. OUR CURATORIAL VISION FOLLOWS A SINGULAR IDEA THAT "ACCESS IS AN AESTHETIC," THIS IS THE THROUGH-LINE OF ALL OUR PROGRAMMING. OUR AUDIENCE IS CONTINUOUSLY EXPANDING, AND THE WORK OF THE ARTISTS WE FEATURE IN THE GALLERY NEEDS TO BE ABLE TO RESONATE WITH BROAD AUDIENCES, INCLUDING THOSE WHO MAY NOT HAVE ACCESS TO THE ARTS OTHERWISE. ADDITIONALLY, WE VALUE ARTISTS WHO INCORPORATE OPPORTUNITIES FOR HANDS-ON LEARNING DURING THEIR RESIDENCY. WE STRIVE TO INFORM EDUCATORS AND STUDENTS ABOUT THE VALUE OF REUSE THROUGH THE CREATION OF HANDS-ON PROJECTS IN CLASSROOM PRACTICE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tara Sansone Executive Director | Officer | 40 | $25,000 |
Samit Shah Treasurer | OfficerTrustee | 1 | $0 |
Scott A Resnick Vice Chair | OfficerTrustee | 1 | $0 |
Anelle Miller Secretary | OfficerTrustee | 1 | $0 |
Andrew Brett Seiken Chair | OfficerTrustee | 1 | $0 |
Sumesh Jagtani Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $38,030 |
Related organizations | $0 |
Government grants | $101,652 |
All other contributions, gifts, grants, and similar amounts not included above | $323,559 |
Noncash contributions included in lines 1a–1f | $1,000 |
Total Revenue from Contributions, Gifts, Grants & Similar | $463,241 |
Total Program Service Revenue | $266,965 |
Investment income | $6,729 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $3,175 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $740,140 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $30,000 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $163,969 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $1,817 |
Payroll taxes | $20,230 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $52,202 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $3,171 |
Fees for services: Other | $59,146 |
Advertising and promotion | $6,111 |
Office expenses | $1,873 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
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 | $8,720 |
Insurance | $3,702 |
All other expenses | $16,579 |
Total functional expenses | $600,417 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $51,646 |
Savings and temporary cash investments | $417,957 |
Pledges and grants receivable | $5,000 |
Accounts receivable, net | $87,340 |
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 | $8,530 |
Net Land, buildings, and equipment | $4,870 |
Investments—publicly traded securities | $260,440 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $835,783 |
Accounts payable and accrued expenses | $16,668 |
Grants payable | $0 |
Deferred revenue | $9,840 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $26,508 |
Net assets without donor restrictions | $799,275 |
Net assets with donor restrictions | $10,000 |
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 | $835,783 |
Over the last fiscal year, we have identified 5 grants that Friends Of Materials For The Arts Inc has recieved totaling $42,946.
Awarding Organization | Amount |
---|---|
Delivering Good Inc New York, NY PURPOSE: POVERTY ASSISTANCE | $24,040 |
The Laurie M Tisch Foundation Inc New York, NY PURPOSE: TO FURTHER EDUCATIONAL, RELIGIOUS, MEDICAL, CULTURAL, SOCIETAL AND ENVIRONMENTAL CAUSES. | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,851 |
The Emily Hall Tremaine Foundation Inc New Haven, CT PURPOSE: COMMUNITY PROJECTS - GENERAL OPERATING | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $55 |
Organization Name | Assets | Revenue |
---|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY | $375,628,094 | $51,526,373 |
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |