Commission For Art Recovery Inc
- Assets
- $5.7k
- Revenue
- $463.0k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/2001
- Data as of
- 12/2023
- EIN
- 13-4138655
Organization Overview
Commission For Art Recovery Inc is located in New York, NY. The organization was established in 2001. 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. Commission For Art Recovery 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 12/2023, Commission For Art Recovery Inc generated $463.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (15.8%) each year. All expenses for the organization totaled $516.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (12.1%) per year over the past 9 years. 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
THE ART RECOVERY PROGRAM ASSISTS INDIVIDUALS AND FAMILIES WHO WERE VICTIMS OF THE CONFISCATION OR FORCED SALE OF ARTWORKS DURING THE NAZI ERA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald S Lauder Chrmn & Dir | 1 | $0 | |
Joseph Tuite VP / CFO | 1 | $0 | |
Jacqueline Scalisi President | 1 | $0 | |
William Schmidt Treasurer/sec | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kasowitz Benson Torres & Fried | 12/30/23 | $201,042 |
Peto Mark Ugyved | 12/30/23 | $55,472 |
Agnes Peresztegi | 12/30/23 | $96,225 |
Agnes Peresztegi | 12/30/23 | $0 |
Kasowitz Benson Torres & Fried | 12/30/23 | $0 |
Peto Mark Ugyved | 12/30/23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $463,000 |
| Interest on Savings | $4 |
| 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 | $463,004 |
| 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 | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $9,587 |
| Printing and publications | $0 |
| Other expenses | $52 |
| Total operating and administrative expenses | $516,866 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $516,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,727 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $5,727 |
| Accounts payable and accrued expenses | $59,807 |
| 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 | $59,807 |
Grants Awarded
Over the last fiscal year, Commission For Art Recovery Inc has awarded $428,780 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LIVING MEMORY PRODUCTIONS LLC PURPOSE: ART RECOVERY DOCUMENTARY | $100,000 |
JEWISH DIGITAL CULTURAL RECOVERY PR PURPOSE: TO CONSTRUCT A COMPREHENSIVE DATABASE OF JEWISH OWNED CULTURAL ASSETS PLUNDERED BY THE NAZIS FROM 1933 TO 1945. | $328,780 |