Rx Art Inc
- Assets
- $3.7m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 07/2000
- Data as of
- 06/2022
- EIN
- 36-4375632
Organization Overview
Rx Art Inc is located in New York, NY. The organization was established in 2000. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2022, Rx Art Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rx Art 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 06/2022, Rx Art Inc generated $1.2m 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 (11.8%) each year. All expenses for the organization totaled $694.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) 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
TO IMPROVE THE AESTHETIC ENVIRONMENT IN HOSPITAL ROOMS BY BUYING EXHIBITION-QUALITY WORKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY2022, WE COMPLETED A MAJOR INSTALLATION OF NICOLAS PARTY ARTWORK IN A 207 FOOT LONG CORRIDOR AT CHILDREN'S HOSPITAL LOS ANGELES. THE CORRIDOR LEADS FROM THE MAIN HOSPITAL TO THE OPERATING ROOMS AND IS AN AREA OF TREMENDOUS STRESS AND ANXIETY FOR PATIENTS AND FAMILY MEMBERS. THE HOSPITAL PROVIDES NEARLY 16,500 SURGERIES A YEAR INCLUDING MORE COMPLEX SURGICAL PROCEDURES THAN ANY OTHER HOSPITAL IN SOUTHERN CALIFORNIA.ADDITIONALLY WE COMPLETED A PROJECT WITH FIGS (MEDICAL APPAREL COMPANY) TO DONATE 1,000 PAIRS OF PJS DESIGNED BY ARTIST URS FISCHER TO CHILDREN AT CHLA (CHILDREN'S HOSPITAL LOS ANGELES). IN MAY 2022 WE COMPLETED THE INSTALLATION OF OUR FIRST SCULPTURE COMMISSION BY THE HAAS BROTHERS FOR THE NEW ENTRANCE TO CHILDREN'S NATIONAL HOSPITAL, WHICH SEE OVER 90,000 PATIENTS PER YEAR AND THEIR FAMILIES.SEVERAL NEW PROJECTS WERE BEGUN IN FY22 BUT WILL BE COMPLETED IN FY23 OR FY24.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane Brown President | OfficerTrustee | 40 | $191,600 |
Michael Laven Director/treasurer | OfficerTrustee | 1 | $0 |
Cynthia Zabel Secretary | OfficerTrustee | 1 | $0 |
Derrick Adams Director | Trustee | 1 | $0 |
Neil Blumenthal Director | Trustee | 1 | $0 |
Glori Cohen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $55,495 |
| All other contributions, gifts, grants, and similar amounts not included above | $997,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,053,027 |
| Total Program Service Revenue | $0 |
| Investment income | $12,985 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,148 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $90,774 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,157,984 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $543 |
| 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. | $197,870 |
| Compensation of current officers, directors, key employees. | $43,531 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,070 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,179 |
| Payroll taxes | $26,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,907 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $57,879 |
| Advertising and promotion | $4,759 |
| Office expenses | $54,458 |
| Information technology | $7,082 |
| Royalties | $0 |
| Occupancy | $42,029 |
| Travel | $4,921 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,256 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,895 |
| Insurance | $2,172 |
| All other expenses | $1,154 |
| Total functional expenses | $694,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,253 |
| Savings and temporary cash investments | $2,787,563 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,500 |
| 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 | $36,638 |
| Investments—publicly traded securities | $812,588 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,740,542 |
| Accounts payable and accrued expenses | $27,648 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,648 |
| Net assets without donor restrictions | $3,540,507 |
| Net assets with donor restrictions | $172,387 |
| 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 | $3,740,542 |