Richard Schmid Fine Art Foundation

Organization Overview

Richard Schmid Fine Art Foundation is located in Walpole, NH. According to its NTEE Classification (A51) the organization is classified as: Art Museums, 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. Richard Schmid Fine 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2022

Describe the Organization's Program Activity:

Part 3 - Line 4a

STOVE PRAIRIE PRESS LLC WAS CREATED BY RICHARD SCHMID TO ADVANCE AND EMBODY HIS GUIDING PRINCIPLE OF HIS ART WHICH WAS HIGH EXCELLENCE IN ALL THAT HE DID AND TAUGHT. THIS ENTITY WAS CONTRIBUTED TO THE RICHARD SCHMID FOUNDATION TO CONTINUE THE WORK OF PUBLISHING AND SELLING THE BOOKS, VIDEOS, LITHOGRAPHS AND ONLINE OFFERINGS OF THE LATE RICHARD SCHMID. AS PART OF RICHARD'S WISHES THE ENTITY IS TO CONTINUE TO CREATE NEW BOOKS, VIDEOS, LITHOGRAPHS AND ONLINE OFFERINGS EMBODYING HIS ART AND OBSERVING THE SAME PRINCIPLES OF HIGH EXCELLENCE RICHARD EMBODIED. IN ADDITION RICHARD HOPED THAT THIS ENTITY WOULD EMBRACE NEW METHODS OF PRINTING AND ELECTRONIC TECHNOLOGY AS THEY ARE DEVELOPED TO PRESENT HIS ART AND VALUES.


STOVE PRAIRIE PRESS LLC WAS CREATED BY RICHARD SCHMID TO ADVANCE AND EMBODY HIS GUIDING PRINCIPLE OF HIS ART, WHICH WAS HIGH EXCELLENCE IN ALL THAT HE DID AND TAUGHT. THIS ENTITY WAS CONTRIBUTED TO THE RICHARD SCHMID FINE ART FOUNDATION TO CONTINUE THE WORK OF PUBLISHING AND SELLING THE BOOKS, VIDEOS, LITHOGRAPHS AND ONLINE OFFERINGS OF THE LATE RICHARD SCHMID. AS PART OF RICHARD'S WISHES THE ENTITY IS TO CONTINUE TO CREATE NEW BOOKS, VIDEOS, LITHOGRAPHS AND ONLINE OFFERINGS EMBODYING HIS ART AND OBSERVING THE SAME PRINCIPLES OF HIGH EXCELLENCE RICHARD EMBODIED. IN ADDITION, RICHARD HOPED THAT THIS ENTITY WOULD EMBRACE NEW METHODS OF PRINTING AND ELECTRONIC TECHNOLOGY AS THEY ARE DEVELOPED TO PRESENT HIS ART AND VALUES.


THE FOUNDATION HOLDS THE ARTWORK, DIGITAL DATABASE, WRITTEN AND ORAL DATABASE AND HOME OF RICHARD SCHMID IN ITS POSSESSION. IN ACCORDANCE WITH RICHARD SCHMID'S WISHES UPON HIS DEATH THE FOUNDATION WILL HOLD HIS ARTWORK AS IT IS TO NEVER BE SOLD. THE FOUNDATION SHALL ALLOW FOR CURATED EXHIBITIONS OR THE ART AS WELL AS VIEWINGS BY ARTIST AND WRITERS IN ORDER TO CONTINUE TO PROMOTE HIS WORKS. THE FOUNDATION IS RESPONSIBLE FOR KEEPING ALL COPYRIGHTS UP TO DATE AND MONITOR FOR INFRINGEMENTS THAT MAY TAKE PLACE. IN ADDITION THE FOUNDATION IS TASKED WITH CONTINUING TO UPDATE THE DIGITIZED DATABASE BY MONITORING GALLERIES SALES AND AUCTIONS FOR WHICH RICHARD'S PAINTINGS (PREVIOUSLY SOLD DURING HIS LIFETIME) MAY BE FOUND IN WHICH IMAGES COULD BE GAINED FOR THE DATABASE. RICHARD OUTLINED HIS WISHES FOR LIMITED USE OF HIS ARTWORK ON THE INTERNET AND NO USE FOR MERCHANDISE PURPOSES. THE GOAL IS TO PRESERVE THE INTEGRITY OF HIS WORKS WHILE STILL SHARING THEM WITH THE WORLD.


THE FOUNDATION HOLDS THE ARTWORK, DIGITAL DATABASE, WRITTEN AND ORAL DATABASE IN ITS POSSESSION. IN ACCORDANCE WITH RICHARD SCHMID'S WISHES, UPON DEATH, THE FOUNDATION WILL HOLD HIS ARTWORK AS IT IS, TO NEVER BE SOLD. THE FOUNDATION SHALL ALLOW FOR CURATED EXHIBITIONS FOR THE ART, AS WELL AS VIEWINGS BY ARTISTS AND WRITERS IN ORDER TO CONTINUE TO PROMOTE HIS WORKS. THE FOUNDATION IS RESPONSIBLE FOR KEEPING ALL COPYRIGHTS UP TO DATE AND MONITOR FOR INFRINGEMENTS THAT MAY TAKE PLACE. IN ADDITION, THE FOUNDATION IS TASKED WITH CONTINUING TO UPDATE THE DIGITIZED DATABASE BY MONITORING GALLERIES, SALES AND AUCTIONS IN WHICH RICHARD'S PAINTINGS, PREVIOUSLY SOLD DURING HIS LIFETIME, MAY BE FOUND WHICH COULD BE GAINED FOR THE DATABASE. RICHARD OUTLINED HIS WISHES FOR LIMITED USE OF HIS ARTWORK ON THE INTERNET AND NO USE FOR MERCHANDISE PURPOSES. THE GOAL IS TO PRESERVE THE INTEGRITY OF HIS WORKS WHILE STILL SHARING THEM WITH THE WORLD.


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $4,587,197
Interest on Savings $0
Dividends & Interest $364
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 $140,461
Other Income $0
Total Revenue $4,728,022

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