Liu Shiming Art Foundation
- Assets
- $169.8k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- Data as of
- 12/2022
- EIN
- 87-2425228
Organization Overview
Liu Shiming Art Foundation is located in New York, NY. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Liu Shiming Art 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, Liu Shiming Art Foundation generated $1.5m in total revenue. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 416.9% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO GRANT SCHOLARSHIPS TO COLLEGE STUDENTS FOR STUDIES ON ASIAN ARTS, CULTURE, AND HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE OF THE PRIMARY PURPOSES OF THE LIU SHIMING ART FOUNDATION IS TO PROVIDE SUPPORT AND FUNDING FOR EMERGING ARTISTS, ESPECIALLY IN THE FIELD OF SCULPTURE. THE LIU SHIMING ART FOUNDATION PROVIDES SEED DONATIONS TO SET UP A "LIU SHIMING SCHOLARS FUND" AT UNIVERSITIES AND INSTITUTIONS AROUND THE WORLD. THE RECIPIENT INSTITUTIONS REWARD SCHOLARSHIPS ON AN ANNUAL BASIS TO THOSE WITH DEMONSTRATED FINANCIAL NEED, WHO SHOW PROMISE IN THE FIELD OF ART, HISTORY, AND MULTI-CULTURAL STUDIES. IN 2022, WE COLLABORATED WITH A TOTAL OF 15 SCHOOLS WORLDWIDE, INCLUDING 8 SCHOOLS WITHIN THE COUNTRY AND 7 SCHOOLS OVERSEAS.
THE LIU SHIMING ART GRANT IS A CHARITABLE FUND THAT AIMS TO ENCOURAGE ARTISTS WHO ARE DEDICATED TO THE LIFETIME PURSUIT OF DEVELOPING THEIR ART AND CONTRIBUTING TO SOCIETY. OUR HIGHEST PRIORITY IS TO SUPPORT ARTISTS EARLY IN THEIR CAREERS WHO CREATE WORK OR PROJECTS THAT HAVE THE POTENTIAL TO BLOSSOM AND GROW, WHILE WE ENCOURAGE THEM TO REFLECT ON HOW HUMANITY AND MULTICULTURALISM ARE REPRESENTED IN THEIR WORK.THE LIU SHIMING ART FOUNDATION AWARDS NUMEROUS GRANTS TO YOUNG ARTISTS WHO ARE NO LONGER ENROLLED IN SCHOOL OR STUDENTS ENROLLED IN INSTITUTIONS OUTSIDE OUR PARTNER UNIVERSITIES/COLLEGES. WE LAUNCHED THIS PROJECT IN THE YEAR 2022, BUT THE DISBURSEMENT OF SUPPORT FUNDS WILL TAKE PLACE IN THE YEAR 2023.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zhiyong Yang President | OfficerTrustee | 1 | $0 |
Si Yang Secretary | OfficerTrustee | 1 | $0 |
Yu Bai Treasurer | OfficerTrustee | 1 | $0 |
Zezong Mao Executive President | Officer | 10 | $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 | $1,451,673 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,451,673 |
| 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 | $1,451,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $566,606 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $476,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,750 |
| Fees for services: Accounting | $2,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,345 |
| Advertising and promotion | $35,502 |
| Office expenses | $51,122 |
| Information technology | $1,650 |
| Royalties | $0 |
| Occupancy | $4,500 |
| Travel | $343 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,096 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $61,028 |
| Total functional expenses | $1,283,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,823 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $169,823 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $169,823 |
| 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 | $169,823 |
Grants Awarded
Over the last fiscal year, Liu Shiming Art Foundation has awarded $566,606 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA STATE UNIVERSITY FOUNDATION INC PURPOSE: SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES | $55,000 |
MARYLAND INSTITUTE COLLEGE OF ART PURPOSE: SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES | $66,000 |
THE UCLA FOUNDATION PURPOSE: SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES | $150,000 |
THE TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK PURPOSE: SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES | $6,000 |
ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY PURPOSE: SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES | $82,106 |
RUTGERS UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES | $156,000 |