Vergel Foundation
- Assets
- $6.5m
- Revenue
- $742.1k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1999
- Data as of
- 12/2022
- EIN
- 13-4027930
Organization Overview
Vergel Foundation is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vergel 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, Vergel Foundation generated $742.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $578.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Vergel Foundation has awarded 39 individual grants totaling $288,752. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ADMINISTERS THE ART COLLECTION OF THE LATE JACQUES & NATASHA GELMAN. DURING 2022, PORTIONS OF THE COLLECTION WERE ON EXHIBITION AT THE THE NORTON MUSEUM OF ART IN WEST PALM BEACH, FLORIDA, THE PORTLAND MUSEUM OF ART IN OREGON, THE PHILBROOK MUSEUM OF ART IN TULSA, OKLAHOMA, THE AUCKLAND ART GALLERY IN NEW ZEALAND AND CENTRO CULTURALE ALTINATE SAN GAETANO IN PADOVA, ITALY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert R Littman President | 40 | $200,000 | |
Sully Bonnelly Director | 40 | $100,000 | |
John B Koegel Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $247,055 |
| 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 | $495,000 |
| Total Revenue | $742,055 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $300,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $182,722 |
| Total operating and administrative expenses | $491,872 |
| Contributions, gifts, grants paid | $86,622 |
| Total expenses and disbursements | $578,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $165,161 |
| 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 | $987,500 |
| Other assets | $5,313,998 |
| Total assets | $6,466,659 |
| 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, Vergel Foundation has awarded $86,622 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
DIANE FOSSEY GORILLA FUND INTERNATI PURPOSE: GENERAL SUPPORT | $20,000 |
NEW YORK CITY BALLET PURPOSE: GENERAL SUPPORT | $30,000 |
DISCALCED INC PURPOSE: GENERAL SUPPORT | $15,000 |
FRICK COLLECTION PURPOSE: GENERAL SUPPORT | $1,500 |
FILM FORUM PURPOSE: GENERAL SUPPORT | $3,000 |
JOYCE THEATER FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |