Faou Foundation
- Assets
- $178.4k
- Revenue
- $160.0k
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 07/2010
- Data as of
- 05/2022
- EIN
- 27-2399066
Organization Overview
Faou Foundation is located in New York, NY. The organization was established in 2010. 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. Faou 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 05/2022, Faou Foundation generated $160.0k 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 (18.6%) each year. All expenses for the organization totaled $185.1k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (26.1%) per year over the past 7 years. 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
THE FOUNDATION'S MISSION IS TO CREATE A SERIES OF HARMONIOUS, SITE SPECIFIC ART INSTALLATIONS AROUND THE WORLD,EACH OF WHICH WILL PROVIDE LASTING TESTIMONY TO THE NATURAL BEAUTY OF THEIR SURROUNDINGS. THESE PERMANENT WORKS WILL HELP PROMOTE A DEEPER UNDERSTANDING OF HUMANKIND'S CONNECTION WITH THE NATURAL ENVIRONMENT, AND SERVE FOR PRESERVING AND REVITALIZING THE COMMUNITIES THAT WILL HOST THESE INSTALLATIONS. THE FOUNDATION ALSO STRIVES TO FORM STRONG CONNECTIONS WITH THE LOCAL COMMUNITIES THAT HOST ITS ART INSTALLATIONS, AND TO ENGAGE IN VARIOUS REVITALIZATION AND EDUCATIONAL EFFORTS SPECIFIC TO EACH COMMUNITITY'S SPECIFIC NEEDS, LANDSCAPE AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION CURRENTLY HAS PROJECTS UNDER DEVELOPMENT IN AFRICA, AUSTRALIA, EUROPE AND NORTH AMERICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mariko Mori President/ Director | OfficerTrustee | 5 | $0 |
Philippe Khuong-Huu Vice President/ Director | OfficerTrustee | 2 | $0 |
John S Wadsworth Jr Director | Trustee | 2 | $0 |
Yuko Hasegawa Director | Trustee | 2 | $0 |
Steven Goldglit CPA Treasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $160,000 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $160,020 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,200 |
| Payroll taxes | $11,770 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $179 |
| Office expenses | $2,032 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,736 |
| All other expenses | $0 |
| Total functional expenses | $185,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,861 |
| Savings and temporary cash investments | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,535 |
| Total assets | $178,396 |
| Accounts payable and accrued expenses | $34,977 |
| 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 | $72,697 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $107,674 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $70,722 |