Milton Resnick And Pat Passlof Foundation
- Assets
- $22.2m
- Revenue
- $938.5k
- Investments
- $2.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-2671574
Organization Overview
Milton Resnick And Pat Passlof Foundation is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (A50) the organization is classified as: Museums, 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. Milton Resnick And Pat Passlof 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 12/2022, Milton Resnick And Pat Passlof Foundation generated $938.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 22.3% each year . All expenses for the organization totaled $754.5k during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE FOUNDATION IS TO INCREASE PUBLIC AWARENESS OF BOTH THE LEGACY OF MILTON RESNICK AND PAT PASSLOF AND THE COMMUNITY OF ARTISTS WITHIN WHICH THEY WORKED. BY EXPLORING THEIR IMPACT ON THAT GENERATION OF ARTISTS AND THE EFFECT THEY AND THEIR PEERS COLLECTIVELY HAD ON BOTH THE "NEW YORK SCHOOL AND THE EVOLUTION OF CONTEMPORARY ART, THE PUBLIC WILL GAIN A GREATER UNDERSTANDING OF THE DEVELOPMENT OF ART IN THE 20TH AND 21ST CENTURY. IN ADDITION, THE FOUNDATION, HONORING THE CONNECTION THAT RESNICK AND PASSLOF HAD WITH BOTH ART AND POETRY, HAS EMBARKED ON A POETRY PROGRAM EXPLORING THAT RELATIONSHIP. THE FOUNDATION PROVIDES THE COMMUNITY WITH A SERIES OF PROGRAMS THROUGHOUT THE YEAR INCLUDING EXHIBITIONS, MUSIC CONCERTS, PANEL DISCUSSIONS, AND LECTURES ON ART RELATED TOPICS. IT IS OPEN FREE TO THE PUBLIC THURSDAY - SATURDAY AND ON WEDNESDAY BY APPOINTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Kernan Director, President | 2 | $0 | |
Tracey A Jones Director, Treasurer | 0.5 | $0 | |
Geoffrey Dorfman Secretary | 6 | $0 | |
Stephanie Heilborn ESQ Director | 0.5 | $0 | |
Richard Cherry Director | 0.5 | $0 | |
Susan Reynolds Executive Director | 40 | $89,817 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $56,412 |
| Interest on Savings | $0 |
| Dividends & Interest | $53,564 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $822,770 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,716 |
| Total Revenue | $938,462 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $89,817 |
| Other employee salaries and wages | $82,140 |
| Pension plans, employee benefits | $23,107 |
| Interest | $24,247 |
| Taxes | $0 |
| Depreciation | $288,933 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $491 |
| Printing and publications | $1,898 |
| Other expenses | $206,587 |
| Total operating and administrative expenses | $754,499 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $754,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $147,843 |
| Savings and temporary cash investments | $151,460 |
| Net Accounts receivable | $2,599 |
| 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 | $75,004 |
| Prepaid expenses and deferred charges | $3,232 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $33,924 |
| Net Land, buildings, and equipment | $7,732,468 |
| Other assets | $11,837,497 |
| Total assets | $22,241,481 |
| Accounts payable and accrued expenses | $52,426 |
| 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 | $352,530 |
| Total liabilities | $404,956 |