Monastery Foundation
- Assets
- $5.0m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- Data as of
- 12/2022
- EIN
- 87-3364118
Organization Overview
Monastery Foundation is located in Chicago, IL. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Monastery 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, Monastery Foundation generated $4.1m in total revenue.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE OF ASSETS INCLUDING REAL ESTATE PROPERTIES AND ARTWORK FOR USE IN FUTURE EDUCATIONAL DISPLAYS TO THE PUBLIC, ARCHIVING WORKS AND HISTORICAL DATA WITH RESPECT TO ARTISTS OF COLOR, AND THE CREATION OF COLLABORATION SPACES AND ARTIST-IN-RESIDENCE LOCATIONS TO SUPPORT THE ARTS AND DEVELOPING ARTISTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theaster Gates President | 1 | $0 | |
Emma German Secretary | 1 | $0 | |
Troy Carter Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,124,983 |
| 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 | $0 |
| Total Revenue | $4,124,983 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $73,105 |
| Occupancy | $31,862 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8 |
| Total operating and administrative expenses | $130,432 |
| Contributions, gifts, grants paid | $25,000 |
| Total expenses and disbursements | $155,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199,243 |
| 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 | $2,900,740 |
| Other assets | $1,879,568 |
| Total assets | $4,979,551 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $10,000 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,000 |