Boris Lurie Art Foundation
- Assets
- $84.2m
- Revenue
- $1.9m
- Investments
- $53.1m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 05/2009
- Data as of
- 06/2023
- EIN
- 98-0590515
Organization Overview
Boris Lurie Art Foundation is located in Wilmington, DE. The organization was established in 2009. 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. Boris Lurie 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.
For the year ending 06/2023, Boris Lurie Art Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $4.3m during the year ending 06/2023. While expenses have increased by 0.4% per year over the past 4 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
GALLERY AND MUSEUM EXHIBITIONS TO MAKE THE NO! ART MOVEMENT AU COURANT AND KEEP THE WORKS OF THE ARTISTS ALIVE IN THE ART WORLD.
RESTORATION, STORAGE, AND MAINTENANCE OF ART HELD BY THE FOUNDATION, INCLUDING ART CREATED BY BORIS LURIE AS WELL AS OTHERS.
THE TRANSLATION AND PUBLICATION OF BORIS LURIE'S POETRY, ESSAYS, BOOKS, AND ARTICLES AS WELL AS THE COMMISSION OF NEW PUBLICATIONS ABOUT BORIS LURIE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude Ethe Dir | 1 | $0 | |
Joi Deirdre Grieg Dir | 1 | $25,000 | |
Amy Korenvaes Dir | 1 | $25,000 | |
Alexandra Lauvaux Sec | 1 | $0 | |
Gertrude Stein Dir, Pres | 40 | $775,000 | |
Anthony Williams Dir, Chairman | 10 | $25,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sri Fine Art Services | 6/29/23 | $621,060 |
Fidelity | 6/29/23 | $485,992 |
Dentons Us Llp | 6/29/23 | $337,330 |
Rafael Vostell | 6/29/23 | $160,362 |
Foundation Source | 6/29/23 | $141,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $37,257 |
| Dividends & Interest | $708,711 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $856,911 |
| Capital Gain Net Income | $822,854 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $248,699 |
| Total Revenue | $1,851,578 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $850,000 |
| Other employee salaries and wages | $295,840 |
| Pension plans, employee benefits | $49,062 |
| Interest | $0 |
| Taxes | $87,865 |
| Depreciation | $0 |
| Occupancy | $214,512 |
| Travel, conferences, and meetings | $183,055 |
| Printing and publications | $13,060 |
| Other expenses | $923,124 |
| Total operating and administrative expenses | $4,279,603 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,279,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $670,525 |
| Net Accounts receivable | $11,740 |
| 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 | $18,379,523 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $30,411,796 |
| Total assets | $84,221,525 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Boris Lurie Art Foundation has awarded $134,274 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MINNEAPOLIS SOCIETY OF FINE ARTS PURPOSE: INSTALLATION, PUBLIC PROGRAMMING, AND MARKETING SUPPORT FOR TWO COMPLIMENTARY PROJECTS - ARTISTS RESPOND AMERICAN ART AND THE VIETNAM WAR 1965-1975 AND CONTEMPORARY ARTISTS REFLECT ON THE AMERICAN WAR | $50,000 |
NATIONAL CENTER FOR JEWISH FILM INC PURPOSE: THE FILM, RESTITUTION: ART AND MEMORY | $25,000 |
P E F ISRAEL ENDOWMENT FUNDS INC PURPOSE: GENERAL & UNRESTRICTED | $34,274 |
WOODSTOCK GUILD OF CRAFTSMEN INC PURPOSE: CASTING OF ROCCO ARMENTO'S SCULPTURES | $25,000 |