Two Red Roses Foundation Inc
- Assets
- $81.8m
- Revenue
- $5.2m
- Investments
- $17.2m
- Employees
- 0
- Location
- St Petersburg, FL
- Founding
- 07/2005
- Data as of
- 12/2021
- EIN
- 33-1093993
Organization Overview
Two Red Roses Foundation Inc is located in St Petersburg, FL. The organization was established in 2005. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Two Red Roses 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 12/2021, Two Red Roses Foundation Inc generated $5.2m 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 (14.1%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION COLLECTS AND CONSERVES OBJECTS MADE IN AMERICA BETWEEN APPROXIMATELY 1900 AND 1930 THAT REFLECT THE SPIRIT OF REFORM IN DESIGN AND CRAFTSMANSHIP, GENERALLY ACCEPTED AS THE ARTS & CRAFTS MOVEMENT; COLLECTS BOOKS, CATALOGUES, PUBLICATIONS AND ARCHIVAL MATERIAL RELATED TOITS COLLECTION AND THE PERIOD; SUPPORTS RESEARCH PERTINENT TO ITS COLLECTION AND THE MOVEMENT; LENDS OBJECTS FROM ITS COLLECTION FOR EXHIBITION BY OTHER INSTITUTIONS; DISSEMINATES THE RESULTS OF THAT RESEARCH THROUGH EXHIBITIONS, PUBLICATIONS, AND OTHER EDUCATIONAL ACTIVITIES AND PROGRAMS FOR THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Magoulis Executive | 5 | $0 | |
Rodolfo Ciccarello President | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $757,303 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,433,887 |
| Capital Gain Net Income | $4,433,887 |
| Net ST Capital Gain | $3,050,492 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $23,057 |
| Other Income | $0 |
| Total Revenue | $5,214,247 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $142 |
| Taxes | $43,696 |
| Depreciation | $26,185 |
| Occupancy | $34,531 |
| Travel, conferences, and meetings | $1,026 |
| Printing and publications | $0 |
| Other expenses | $1,951,908 |
| Total operating and administrative expenses | $2,074,713 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,074,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $735,525 |
| Savings and temporary cash investments | $16,000,040 |
| Net Accounts receivable | $3,137 |
| 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 | $321,696 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $569,071 |
| Other assets | $46,947,132 |
| Total assets | $81,826,203 |
| 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 | $784 |
| Total liabilities | $784 |
Grants Awarded
Over the last fiscal year, Two Red Roses Foundation Inc has awarded $900,808 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
St Petersburg, FL PURPOSE: GENERAL OPERATIONS; DONATION OF ART COLLECTION | $895,708 |
MOFFITT CANCER CENTER PURPOSE: GENERAL OPERATIONS | $5,000 |
Edmonds, WA PURPOSE: GENERAL OPERATIONS | $100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Two Red Roses Foundation Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Jordan And Deanna Berman Family Charitable Foundation Springhouse, PA PURPOSE: CHARITABLE PURPOSE | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Professional Photographers Of America Inc Atlanta, GA | $48,960,545 | $12,325,076 |
Georgia Association Of Manufacturers Inc Atlanta, GA | $2,700,140 | $2,292,406 |
Two Red Roses Foundation Inc St Petersburg, FL | $81,826,203 | $5,214,247 |
The Armory Art Center Inc West Palm Beach, FL | $4,340,445 | $2,084,067 |
Forward Arts Foundation Inc Atlanta, GA | $5,240,641 | $1,648,904 |
Lighthouse Artcenter Inc Tequesta, FL | $3,825,019 | $2,482,262 |
Robert Craft Igor Stravinsky Foundation boca raton, FL | $11,119,320 | $752,022 |
The Studios Of Key West Inc Key West, FL | $13,984,404 | $3,906,460 |
Palm Beach Photographic Centre Inc West Palm Beach, FL | $1,110,051 | $866,676 |
Bakehouse Art Complex Inc Miami, FL | $1,346,627 | $1,198,887 |
Ann Norton Sculpture Gardens Inc West Palm Beach, FL | $4,892,273 | $1,857,308 |
National Press Photographers Association Inc Athens, GA | $607,292 | $735,008 |