Waterfall Arts Foundation
- Assets
- $15.9k
- Revenue
- $72.6k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- Data as of
- 12/2021
- EIN
- 83-4652160
Organization Overview
Waterfall Arts Foundation is located in New York, NY. 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. Waterfall Arts 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, Waterfall Arts Foundation generated $72.6k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 46.2% each year . All expenses for the organization totaled $82.9k during the year ending 12/2021. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART GALLERY AND EVENT VENUE WITH EXHIBITS FROM VARIOUS ARTISTS AND TOURS FOR THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dooeun Choi Director | 20 | $0 | |
Jungee Shin President | 8 | $0 | |
Hee Sook Clair Fng Director | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $67,700 |
| Interest on Savings | $0 |
| 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 | $4,876 |
| Total Revenue | $72,576 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $9,150 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $32,000 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24,878 |
| Total operating and administrative expenses | $66,028 |
| Contributions, gifts, grants paid | $16,919 |
| Total expenses and disbursements | $82,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $15,735 |
| Other assets | $0 |
| Total assets | $15,935 |
| Accounts payable and accrued expenses | $0 |
| 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 | $90,000 |
| Total liabilities | $90,000 |
Grants Awarded
Over the last fiscal year, Waterfall Arts Foundation has awarded $16,919 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SOYON LEE PURPOSE: ART CLASS TUITION SCHOLARSHIP | $10,000 |
DREAMERS COMMUNITY CHURCH PURPOSE: RELIGIOUS DONATION | $3,554 |
JAYON LEE PURPOSE: ARTIST GRANT | $2,000 |
SUNG JIN PARK PURPOSE: ARTIST GRANT | $1,365 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Waterfall Arts Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Grace Charity Foundation Inc Randolph, NJ PURPOSE: CHARITABLE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Doris Duke Foundation For Islamic Art New York, NY | $38,632,422 | $9,089,054 |
Storm King Art Center New Windsor, NY | $80,583,864 | $14,230,209 |
Fellowship For The Performing Arts Inc New York, NY | $15,555,732 | $10,766,818 |
Ps1 Contemporary Art Center Inc Long Island City, NY | $7,393,924 | $9,638,266 |
Isamu Noguchi Foundation And Garden Museum Long Island City, NY | $75,386,214 | $11,184,586 |
Frick Art & Historical Center Inc Pittsburgh, PA | $114,709,586 | $11,420,206 |
Poster House Inc New York, NY | $11,000,245 | $5,591,226 |
The Bellis Blauvelt-Demarest Foundations Inc Bedminster, NJ | $7,657,281 | $1,264,070 |
Queens Museum Of Art New York City Building Queens, NY | $37,385,842 | $4,485,769 |
Parrish Art Museum Inc Water Mill, NY | $42,263,571 | $6,006,161 |
Montclair Art Museum Montclair, NJ | $23,752,572 | $7,870,896 |
New Britain Museum Of American Art Inc New Britain, CT | $48,215,040 | $5,724,995 |