Mervat Zahid Cultural Foundation
- Assets
- $10.3m
- Revenue
- $269.3k
- Investments
- $2.4m
- Employees
- 0
- Location
- Greenwich, CT
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-2975291
Organization Overview
Mervat Zahid Cultural Foundation is located in Greenwich, CT. The organization was established in 2014. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mervat Zahid Cultural 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, Mervat Zahid Cultural Foundation generated $269.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $352.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 4 years. 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 COSTS INCURRED TO PROVIDE STORAGE SPACE FOR THE DAHESH MUSEUM OF ART.
DAHESH MUSEUM OF ART PROVIDE FUNDING FOR THE DAHESH MUSEUM OF ART SYMPOSIUM AWARDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mervat Zahid Chairman And Trustee | 5 | $0 | |
Amira Zahid President | 15 | $0 | |
Hoda Zahid Secretary And Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $150,000 |
| Interest on Savings | $22,703 |
| Dividends & Interest | $47,386 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $49,251 |
| Capital Gain Net Income | $49,251 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $269,340 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,500 |
| Depreciation | $91,803 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $230,535 |
| Total operating and administrative expenses | $350,508 |
| Contributions, gifts, grants paid | $2,000 |
| Total expenses and disbursements | $352,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,601 |
| Savings and temporary cash investments | $85,575 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $4,421,291 |
| Other assets | $3,339,233 |
| Total assets | $10,334,591 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Mervat Zahid Cultural Foundation has awarded $33,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION OF HISTORIANS OF NINETEETH-CENTURY ART PURPOSE: HELP SUPPORT THE ORGANIZATION'S 19TH CENTURY ART WORLDWIDE JOURNAL USED BY ART HISTORIANS, UNIVERSITIES AND MUSEUMS, COLLECTORS, AUCTIONERS AND MANY OTHERS. | $30,000 |
DAHESH MUSEUM OF ART PURPOSE: HELP SUPPORT THE ORGANIZATION ANNUAL SYMPOSIUM PROGRAM AND AWARDS | $3,000 |