Modern Ancient Brown Foundation
- Assets
- $293.0k
- Revenue
- $540.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- Data as of
- 12/2022
- EIN
- 84-3357562
Organization Overview
Modern Ancient Brown Foundation is located in Detroit, MI. According to its NTEE Classification (A25) the organization is classified as: Arts Education, 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. Modern Ancient Brown 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, Modern Ancient Brown Foundation generated $540.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 41.0% each year . All expenses for the organization totaled $524.5k during the year ending 12/2022. While expenses have increased by 48.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mcarthur Binion Director | 5 | $0 | |
Savannah Shange-Binion President | 5 | $0 | |
Lucas Binion Treasurer | 5 | $0 | |
Stella Binion Secretary | 5 | $0 | |
Michael Stone-Richards Executive Director | 40 | $71,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $231,160 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $309,600 |
| Capital Gain Net Income | $309,600 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $540,760 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $71,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $17,914 |
| Interest | $0 |
| Taxes | $1,631 |
| Depreciation | $14,917 |
| Occupancy | $28,000 |
| Travel, conferences, and meetings | $8,235 |
| Printing and publications | $0 |
| Other expenses | $369,096 |
| Total operating and administrative expenses | $515,651 |
| Contributions, gifts, grants paid | $8,850 |
| Total expenses and disbursements | $524,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,411 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $3,910 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,120 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $186,353 |
| Other assets | $57,211 |
| Total assets | $293,005 |
| 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, Modern Ancient Brown Foundation has awarded $8,850 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
DETROIT INSTITUTE OF ARTS PURPOSE: TO SUPPORT ART | $6,000 |
COLLEGE FOR CREATIVE STUDIES PURPOSE: TO SUPPORT ART EDUCATION | $1,850 |
CRANBROOK EDUCATIONAL COMMUNITY PURPOSE: TO SUPPORT ART EDUCATION | $1,000 |