Nancy Graves Foundation Inc
- Assets
- $13.2m
- Revenue
- $429.2k
- Investments
- $5.4m
- Employees
- 0
- Location
- Long Island City, NY
- Founding
- 04/1997
- Data as of
- 09/2023
- EIN
- 13-3885307
Organization Overview
Nancy Graves Foundation Inc is located in Long Island City, NY. The organization was established in 1997. 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. Nancy Graves Foundation Inc 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 09/2023, Nancy Graves Foundation Inc generated $429.2k 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 (28.6%) each year. All expenses for the organization totaled $549.2k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Nancy Graves Foundation Inc has awarded 23 individual grants totaling $285,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOLLOWING IS A LISTING OF THE DIRECT CHARITABLE ACTIVITIES THE FOUNDATION HAS UNDERTAKEN IN THE CURRENT YEAR AND/OR EXPECTS TO UNDERTAKE IN SUBSEQUENT YEARS:>LENDING ARTWORKS TO MUSEUM EXHIBITIONS FOR RESEARCH AND DISPLAY ACCESSIBLE TO THE PUBLIC. >ESTABLISHING A DEDICATED RESEARCH AND STUDY CENTER FOR VISITING SCHOLARS, RESEARCHERS, AND CURATORS.>PARTNERING WITH EDUCATIONAL INSTITUTIONS TO HOST AND OFFER YOUNG SCHOLARS OPPORTUNITIES TO ACQUIRE SKILLS AND KNOWLEDGE OF BEST PRACTICES IN ART FOUNDATION ADMINISTRATION, ARCHIVAL ORGANIZATION, AND EXHIBITION PLANNING.>MEETING WITH COLLEGE DIRECTORSHIP TO EXPAND EDUCATIONAL PARTNERSHIPS AND PROGRAMMING.>HOSTING VISITING CURATORS AND SCHOLARS RESEARCHING NANCY GRAVES AND ARTISTS OF HER ERA FOR FUTURE EXHIBITIONS AND PUBLICATIONS.>SPONSORING COLLABORATIONS BETWEEN FOUNDATIONS TO SHARE AND PRESENT RESEARCH AT CONFERENCES.> GRANTS ARE DIRECTED TO VISUAL ARTISTS WHO WISH TO EXPAND TO NEW MEDIUMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sanford Hirsch Director-Chair | 5 | $55,000 | |
Janie C Lee Deceased April 2024 Director-President | 1 | $0 | |
Michael Hecht Director-Treasurer | 1 | $0 | |
Eugene Kokot Director-Secretary | 1 | $0 | |
William Joseph Director-Vice President | 1 | $0 | |
Christina Hunter Executive Director | 32 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $908 |
| Dividends & Interest | $101,007 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $272,208 |
| Capital Gain Net Income | $272,208 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,048 |
| Total Revenue | $429,171 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $175,000 |
| Other employee salaries and wages | $47,669 |
| Pension plans, employee benefits | $25,412 |
| Interest | $0 |
| Taxes | $17,809 |
| Depreciation | $3,634 |
| Occupancy | $147,176 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $46,501 |
| Total operating and administrative expenses | $499,169 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $549,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $91,309 |
| 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 | $10,300 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $104,807 |
| Other assets | $7,529,622 |
| Total assets | $13,179,765 |
| Accounts payable and accrued expenses | $13,539 |
| 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 | $13,539 |
Grants Awarded
Over the last fiscal year, Nancy Graves Foundation Inc has awarded $50,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ADRIENNE ELISE TARVER PURPOSE: TO SUPPORT THE WORK AND ARTISTIC DEVELOPMENT OF WORTHY ARTISTS. THE FOUNDATION'S GRANT MAKING PROCEDURES WERE APPROVED BY THE INTERNAL REVENUE SERVICE IN A LETTER DATED APRIL 6, 1999. | $12,500 |
SHOSHANNA WEINBERGER PURPOSE: TO SUPPORT THE WORK AND ARTISTIC DEVELOPMENT OF WORTHY ARTISTS. THE FOUNDATION'S GRANT MAKING PROCEDURES WERE APPROVED BY THE INTERNAL REVENUE SERVICE IN A LETTER DATED APRIL 6, 1999. | $12,500 |
EDDIE RODOLFO APARICIO PURPOSE: TO SUPPORT THE WORK AND ARTISTIC DEVELOPMENT OF WORTHY ARTISTS. THE FOUNDATION'S GRANT MAKING PROCEDURES WERE APPROVED BY THE INTERNAL REVENUE SERVICE IN A LETTER DATED APRIL 6, 1999. | $12,500 |
ABIGAIL DEVILLE PURPOSE: TO SUPPORT THE WORK AND ARTISTIC DEVELOPMENT OF WORTHY ARTISTS. THE FOUNDATION'S GRANT MAKING PROCEDURES WERE APPROVED BY THE INTERNAL REVENUE SERVICE IN A LETTER DATED APRIL 6, 1999. | $12,500 |