Ukrainian Institute Of Modern Art
- Assets
- $777.1k
- Revenue
- $588.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Chicago, IL
- Founding
- 06/1972
- Data as of
- 12/2022
- EIN
- 23-7186981
Organization Overview
Ukrainian Institute Of Modern Art is located in Chicago, IL. The organization was established in 1972. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Ukrainian Institute Of Modern Art employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ukrainian Institute Of Modern Art 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, Ukrainian Institute Of Modern Art generated $588.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $436.8k during the year ending 12/2022. While expenses have increased by 11.8% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVES AND PROMOTES CONTEMPORARY ART AS A SHARED EXPRESSION OF THE UKRAINIAN AND AMERICAN EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVES AND PROMOTES CONTEMPORARY ART AS A SHARED EXPRESSION OF THE UKRAINIAN AND AMERICAN EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Orysia Cardoso Chairperson | OfficerTrustee | 2 | $0 |
Motria Melnyk President | OfficerTrustee | 25 | $0 |
Marta Farion Vice President | OfficerTrustee | 2 | $0 |
Tunia Mycyk Treasurer | OfficerTrustee | 2 | $0 |
Svitlana Kochman Secretary | OfficerTrustee | 2 | $0 |
Yaro Melnyk Legal Counsel | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,742 |
| Fundraising events | $167,818 |
| Related organizations | $0 |
| Government grants | $14,153 |
| All other contributions, gifts, grants, and similar amounts not included above | $342,895 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $543,608 |
| Total Program Service Revenue | $17,871 |
| Investment income | $5,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $588,513 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $93,481 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $64,536 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,757 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,929 |
| Payroll taxes | $10,938 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,154 |
| Advertising and promotion | $5,068 |
| Office expenses | $13,071 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,998 |
| Travel | $1,343 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,889 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $11,835 |
| Total functional expenses | $436,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $777,063 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $777,063 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $128,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $128,833 |
| Net assets without donor restrictions | $545,354 |
| Net assets with donor restrictions | $102,876 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $777,063 |
Grants Awarded
Over the last fiscal year, Ukrainian Institute Of Modern Art has awarded $88,946 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UMANA ILLINOIS PURPOSE: AID TO UKRAINE | $56,678 |
RAZOM FOR UKRAINE PURPOSE: AID TO UKRAINE | $32,268 |