Silver Art Projects Inc
- Assets
- $416.1k
- Revenue
- $256.0k
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- Data as of
- 12/2022
- EIN
- 84-3881363
Organization Overview
Silver Art Projects Inc is located in New York, NY. 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. Silver Art Projects Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ARTISTS BY PROVIDING SPONSORED STUDIO SPACE, MENTORSHIP, AND STIPENDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SILVER ART PROJECTS PROGRAM INVITES 28 ARTISTS TO OCCUPY APPROXIMATLEY 38,000 SQUARE FEET OF LOWER MANHATTAN OFFICE SPACE DONATED BY A GENEROUS SPONSOR. THE SPACE IS OUTFITTED TO ACCOMMODATE INDIVIDUAL ARTIST STUDIO SPACES. SILVER ART PROJECTS PROVIDES THE SPACE FREE FOR 10 MONTHS TO ARTISTS, AS WELL AS PROFESSIONAL DEVELOPMENT PROGRAMMING, MENTORSHIP AND SERVICES TO ACCELERATE ARTISTS CAREERS THROUGH NETWORKING OPPORTUNITIES WITH ARTS PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tal Kerret Board Member | OfficerTrustee | 2 | $0 |
Cory Silverstein President | OfficerTrustee | 15 | $0 |
Jeffrey Scott Secretary, Treasurer | OfficerTrustee | 2 | $0 |
Reginald Browne Director | Trustee | 2 | $0 |
Rana Florida Director | Trustee | 2 | $0 |
Dino Fusco Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $256,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $256,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $256,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $32,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,976 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,924 |
| Payroll taxes | $11,274 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,145 |
| Fees for services: Accounting | $12,744 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,382 |
| Advertising and promotion | $0 |
| Office expenses | $1,156 |
| Information technology | $5,491 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $168,362 |
| Insurance | $1,663 |
| All other expenses | $0 |
| Total functional expenses | $564,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,749 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $304,308 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $416,057 |
| Accounts payable and accrued expenses | $129,883 |
| 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 | $129,883 |
| Net assets without donor restrictions | $286,174 |
| Net assets with donor restrictions | $0 |
| 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 | $416,057 |