2024-11-14T12:19:27-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990PF 2023-01-01 832902185 FORMAN ARTS INITIATIVE INC FORM 2154951160 201 ROUSE BLVD PHILADELPHIA PA 19112 THOMAS TRALA TREASURER/SECRETARY 2154951160 2024-11-14 1 0 DANIEL ROMANO P00504182 2125990100 2023 2024-10-15 13:58:12Z X 83544282 X 1715000 6575 6575 6575 308749 308749 308749 119921 119921 -3831250 14168750 6293750 0 -1800926 6728995 435245 113027 0 0 113027 20735 0 0 20735 18610 0 0 18610 172481 15666 0 117467 98611 0 0 93952 266250 0 0 307535 1053332 26 0 0 100000 0 0 0 126248 0 0 0 6976 0 0 6976 306641 0 0 294086 2282911 15692 0 972388 662000 322000 2944911 15692 0 1294388 -4745837 6713303 435245 3762 205862 205862 1405 1405 1405 13487015 2121794 13487015 13487015 81212060 69850000 69850000 83337616 83544282 83544282 63785 130002 340000 3574119 56420 226825 3694324 696827 X 0 0 0 0 79643292 82847455 79643292 82847455 83337616 83544282 79643292 -4745837 7950000 82847455 0 82847455 SALE - ART WORK JOAN MITCHELL 1925-1992 D 2018-12-27 2023-06-16 14168750 7875000 6293750 6293750 6293750 0 93315 0 93315 0 93315 100000 0 10000 0 110000 0 16685 16685 0 0 0 0 0 0 0 0 0 1 1 0 1 1 PA 1 1 0 0 0 1 HTTPS://FORMANARTSINITIATIVE.ORG MICHAEL C FORMAN 2154951160 201 ROUSE BLVD PHILADELPHIA PA 19112 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MICHAEL C FORMAN 201 ROUSE BLVD PHILADELPHIA PA 19112 PRESIDENT 1.00 0 0 0 JENNIFER S RICE 201 ROUSE BLVD PHILADELPHIA PA 19112 VICE PRESIDENT 1.00 0 0 0 THOMAS TRALA 201 ROUSE BLVD PHILADELPHIA PA 19112 TREASURER/SECRETARY 10.00 113027 0 0 NONE 0 DVDL DESIGN 1133 BROADWAY STE 1201 NEW YORK NY 10010 CONSULTING/ORG. DEV. 266250 FB CAPITAL PARTNERS LP 201 ROUSE BLVD PHILADELPHIA PA 19112 ACCOUNTING 170405 ISAACSON MILLER INC 1800 K ST NW WASHINGTON DC 20006 EXECUTIVE SEARCH FIRM 112208 BLUE MEDIUM INC 526 W 26TH ST 708 NEW YORK NY 10001 ADVERTISING AND MARKETING 86769 0 PROMOTE THE STUDY, EDUCATION, DISPLAY AND ADVANCEMENT OF THE ARTS 972388 0 0 8033359 12796649 20830008 0 0 20830008 312450 20517558 1025878 X 1294388 0 1000000 2294388 2018-12-20 X 435245 224 1607 33 437109 369958 190 1366 28 371543 2294388 6647335 1183614 1132220 11257557 322000 530000 770000 870000 2492000 1972388 6117335 413614 262220 8765557 83544282 83337617 83778323 83649211 334309433 69851405 78900000 83730000 83630000 316111405 683919 8031 1071 770 693791 0 0 0 0 MICHAEL C FORMAN JENNIFER S RICE X DREXEL UNIVERSITY 3201 ARCH STREET NO 400 PHILADELPHIA PA 19104 PC SUPPORT IS INTENDED TO ESTABLISH THE FORMAN ARTS INITIATIVE CO-OP PROGRAM FUND AT THE LENFEST CENTER FOR CULTURAL PARTNERSHIPS. THE PROGRAM IS INTENDED TO RUN FOR 5 YEARS. 75000 PHILADELPHIA FOUNDATION 1835 MARKET STREET NO 2410 PHILADELPHIA PA 19103 PC ARTWORKS (YR4) - GRANT TO SUPPORT ARTS, CULTURE & CREATIVITY IN COMMUNITY-BASED ORGANIZATIONS & ARTISTS WORKING IN PARTNERSHIP WITH BLACK, INDIGENOUS, PEOPLE OF COLOR, OTHER MARGINALIZED, & VULNERABLE COMMUNITIES IN THE GREATER PHILA AREA. 215000 PHILADELPHIA MURAL ARTS ADVOCATES 1729 MT VERNON STREET PHILADELPHIA PA 19130 PC SUPPORT FOR PUBLIC WORKS RESIDENCY PROGRAM THAT EMBEDS ARTISTS IN CITY GOVERNMENT AGENCIES OR OTHER SIMILAR ORGANIZATIONS TO PROPOSE AND IMPLEMENT CREATIVE SOLUTIONS TO PRESSING CIVIC CHALLENGES. 30000 BLACKSTAR PROJECTS INC 1901 SOUTH 9TH STREET 414 PHILADELPHIA PA 19148 PC GENERAL SUPPORT 2000 322000 0 14 6575 14 308749 18 -3831250 0 -3515926 0 -3515926 0 0 0 0 0 0 0 0 0 0 X X 1 NATIONAL PHILANTHROPIC TRUST 165 TOWNSHIP LINE ROAD SUITE 1200 JENKINTOWN PA 19046 1000000 X 2 FORMAN FAMILY FOUNDATION C/O 201 ROUSE BLVD STE 675 PHILADELPHIA PA 19112 715000 X ACCOUNTING FEES 57377 0 0 57378 TAX PREPARATION 41234 0 0 36574 FORM 990-PF, PART XI - QUALIFYING DISTRIBUTIONS PURSUANT TO IRS TREASURY REGULATION SECTION 53.4942(A)(3)(C)(I), THE FORMAN ARTS INITIATIVE ("FAI") IS PROVIDING THE FOLLOWING DISCLOSURE WITH RESPECT TO THE QUALIFYING DISTRIBUTIONS REPORTED ON PART XI LINE 4 OF THE FORM 990-PF.DURING 2023, THE FORMAN FAMILY FOUNDATION ("FFF") MADE A CASH GRANT OF $715,000 TO FORMAN ARTS INITIATIVE ("FAI") ; EXPENDITURES INCURRED BY FAI WITH THESE FUNDS HAVE BEEN INCLUDED IN FAI'S CALCULATION OF QUALIFYING DISTRIBUTIONS AND SHALL BE TREATED AS QUALIFYING DISTRIBUTIONS ON THE TAX RETURN OF FAI. THIS IS PERMITTED UNDER 53.4942(A)(3)(C)(1) BECAUSE:1. NOT LATER THAN ONE YEAR AFTER THE END OF THE TAX YEAR IN WHICH FAI RECEIVED FUNDING FROM FFF, IT MADE DISTRIBUTIONS EQUAL TO THE FULL AMOUNT OF THE CONTRIBUTION; THE DISTRIBUTIONS CONSTITUTE A QUALIFYING DISTRIBUTION THAT IS TREATED AS BEING MADE OUT OF CORPUS, AND2. FAI HAS PROVIDED ADEQUATE RECORDS TO FFF THAT IT HAS ACTUALLY PAID OUT THE GRANTED FUNDS TO QUALIFYING EXPENDITURES. LEGAL FEES 172481 15666 0 117467 ARTWORK 81212060 69850000 69850000 ADVERTISING & MARKETING 133767 0 0 130769 ART - OTHER 116105 0 0 107887 ART COLLECTIONS INSURANCE 30623 0 0 29577 ART COMMISSION 22576 0 0 22283 ART APPRAISAL 3570 0 0 3570 UNREALIZED GAIN/LOSS ART ADJUSTMENT 7950000 DUE TO FB CAPITAL PARTNERS LP 56420 226825 DVDL DESIGN 266250 0 0 307535 EXCISE TAX 100000 0 0 0