Sylvia Wald And Po Kim Art Gallery
- Assets
- $25.1m
- Revenue
- $472.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/2006
- Data as of
- 03/2023
- EIN
- 03-0562344
Organization Overview
Sylvia Wald And Po Kim Art Gallery is located in New York, NY. The organization was established in 2006. According to its NTEE Classification (A50) the organization is classified as: 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. Sylvia Wald And Po Kim Art Gallery 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 03/2023, Sylvia Wald And Po Kim Art Gallery generated $472.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $1.3m during the year ending 03/2023. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE, MAINTAIN & PERPETUATE THE LEGACY OF THE FOUNDERS'UNIQUELY ACCOMPLISHED ARTISTIC CAREERS & EXHIBIT THEFOUNDERS' ART WORKS TO PROMOTE & WIDEN PUBLIC APPRECIATION.
AND TO PROMOTE CULTURAL HARMONY BETWEEN EASTERN AND WESTERN CULTURES THROUGH THE ARTS BY SPONSORING AND HOSTING ART EXHIBITIONS, PERFORMANCES, EDUCATIONAL AND ARTISTIC EVENTS
FEATURING NATIONAL AND INTERNATIONAL ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Owen Joe President & Treasurer | 25 | $0 | |
Sung Chul Whang Secretary | 1 | $0 | |
Thomas Hubbard Trustee | 1 | $0 | |
Odelette Cho Trustee & Art Director | 35 | $0 | |
Dong Jin Oh Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cerina | 3/30/23 | $178,807 |
Structural Preservation Systems | 3/30/23 | $127,440 |
Cozen O'connor Llp | 3/30/23 | $121,699 |
Daon Interior | 3/30/23 | $110,063 |
Everlast Solutions Corp | 3/30/23 | $63,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $438,645 |
| 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 | $34,230 |
| Total Revenue | $472,875 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $48,073 |
| Pension plans, employee benefits | $5,551 |
| Interest | $139,162 |
| Taxes | $108,263 |
| Depreciation | $498,878 |
| Occupancy | $79,619 |
| Travel, conferences, and meetings | $2,583 |
| Printing and publications | $0 |
| Other expenses | $250,216 |
| Total operating and administrative expenses | $1,289,779 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,289,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,725 |
| Savings and temporary cash investments | $8,126 |
| 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 | $22,904,761 |
| Other assets | $2,196,085 |
| Total assets | $25,144,697 |
| Accounts payable and accrued expenses | $34,392 |
| 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 | $2,921,490 |
| Total liabilities | $2,955,882 |