Li Huasheng Art Foundation is located in Shoreline, WA. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Li Huasheng 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COLLECTION OF MORE THAN 2000 ARTWORKS ACTIVITIES INCLUDE PUBLIC EXHIBITIONS ARTWORK LOANS TO MUSEUMS AND SCHOLARLY RESEARCH
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTWORK SCANNING: THE FOUNDATION PERFORMED VERY HIGH-RESOLUTION SCANNING OF ALL ARTWORKS VIEWED AND EVALUATED DURING THE SCHOLAR'S CONFERENCE IN ORDER TO CREATE A REFERENCE DATABASE OF IMAGE FILES WHICH IS NOW AVAILABLE TO SCHOLARS, RESEARCHERS, AND STUDENTS, AND WHICH WILL ALSO BE UTILIZED IN THE UPCOMING PUBLICATION OF THE FOUNDATION'S ART COLLECTION.
SCHOLAR'S CONFERENCE: THE FOUNDATION CONVENED CURATORS AND SCHOLARS FROM THE LOS ANGELES COUNTY MUSEUM OF ART, HARVARD UNIVERSITY, STANFORD UNIVERSITY, AND MEMBERS OF THE FOUNDATION'S PROGRAM COMMITTEE TO REVIEW AND ASSESS 1,050 WORKS OF ART FROM THE FOUNDATION'S ART COLLECTION, AND TO SELECT WORKS OF ART FOR FURTHER RESEARCH, EXHIBITION, AND PUBLICATION.
COLLECTION DOCUMENTATION AND RESEARCH: THE FOUNDATION ENTERED THE RESULTS OF THE SCHOLAR'S CONFERENCE ARTWORK ASSESSMENTS INTO ITS COLLECTION MANAGEMENT DATABASE AND MADE THIS DATABASE ACCESSIBLE TO SCHOLAR'S CONFERENCE PARTICIPANTS AS WELL AS TO EXTERNAL SCHOLARS AND CURATORS INTERESTED IN CONDUCTING RESEARCH INTO THE FOUNDATION'S ART COLLECTION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Craig L Yee President | Officer | 5 | $0 |
Donald A Leitz Treasurer | Officer | 1 | $1,975 |
Britta Erickson PHD Director | Trustee | 0.5 | $0 |
Richard Fabian Reverend Director | Trustee | 0.5 | $0 |
Susanna Ferrell Director | Trustee | 0.5 | $0 |
Stephen Little PHD Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $40 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $40 |
Total Program Service Revenue | $0 |
Investment income | $18 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$105,430 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | -$105,372 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,439 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $3,162 |
Advertising and promotion | $0 |
Office expenses | $174 |
Information technology | $2,951 |
Royalties | $0 |
Occupancy | $0 |
Travel | $2,746 |
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 | $0 |
Insurance | $26,057 |
All other expenses | $186 |
Total functional expenses | $134,129 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $395,196 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $176,407 |
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 | $15,770 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $18,365,846 |
Total assets | $18,953,219 |
Accounts payable and accrued expenses | $52,699 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $52,699 |
Net assets without donor restrictions | $18,900,520 |
Net assets with donor restrictions | $0 |
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 | $18,953,219 |