2023-11-14T17:58:52-06:00 2022-12-31 420714325 RSM US LLP 6 S PATTERSON BLVD DAYTON OH 45402 990PF 2022-01-01 260273135 THE FLAG ART FOUNDATION FLAG 2125186682 CO GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 GLENN FUHRMAN PRESIDENT/TREASURER 2125186682 2023-11-14 1 GLENN FUHRMAN XXX-XX-XXXX 0 KAREN O CRIM P00368385 9372980201 2023-11-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X 30732736 X 20551900 8683 8683 8683 77952 77952 77952 -711793 19824024 19773751 7565 3429 3429 3429 305430 169545 305430 20235601 20029931 403059 0 0 0 0 315167 0 0 315167 47628 0 0 47628 1700 0 0 1700 43438 0 0 41288 58544 0 0 58544 311717 0 0 311717 3081 0 3081 221423 0 0 221423 121736 0 0 121736 457749 61 0 457688 1582183 61 3081 1576891 443000 443000 2025183 61 3081 2019891 18210418 20029870 399978 1499036 12031 12031 1697807 20624825 20624825 2090366 2245886 7158300 125103 20366 107818 104737 104737 2275000 2832843 2832843 7670027 25820322 30732736 14073 41766 482192 394486 496265 436252 X 430940 430940 0 0 6742822 24953130 7173762 25384070 7670027 25820322 7173762 18210418 0 25384180 110 25384070 PUBLICLY TRADED SECURITIES D 19824007 66008 19757999 19757999 MSD PRIVATE CREDIT OPPORTUNITY FUND LP (STCG) P 2022-12-31 2022-12-31 7693 7693 MSD PRIVATE CREDIT OPPORTUNITY FUND LP (LTCG) P 2022-12-31 2022-12-31 8392 8392 MSD RING PARTNERS LP (SEC 1231) P 2022-12-31 2022-12-31 -2 -2 UBTI FROM MSD PRIVATE CREDIT OPPORTUNITY FUND LP (STCG) P 2022-12-31 2022-12-31 -128 -128 UBTI FROM MSD PRIVATE CREDIT OPPORTUNITY FUND LP (LTCG) P 2022-12-31 2022-12-31 -220 -220 CAPITAL GAINS DIVIDENDS P 17 17 17 19773751 7565 278415 0 278415 0 278415 280715 0 5000 0 285715 X 0 7300 7300 0 0 0 0 0 0 0 0 0 1 1 0 1 1 NY DE 1 1 0 0 0 1 WWW.FLAGARTFOUNDATION.ORG GLENN FUHRMAN 2125186682 C/O GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 GLENN FUHRMAN C/O GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 PRESIDENT/TREASURER 5.00 0 0 0 AMANDA FUHRMAN C/O GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 VP/SECRETARY 5.00 0 0 0 LAURA TWERSKY C/O GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 DIRECTOR 1.00 0 0 0 JONATHAN RIDER C/O GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 DIRECTOR 40.00 211667 15162 0 CAROLINE CASSIDY C/O GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 EXHIBITIONS & PROGRA 40.00 95000 15162 0 0 VIRTRU INVESTMENT PARTNERS INC 640 PARK AVE 11TH FL NEW YORK NY 10065 MANAGEMENT FEES 58064 0 MAINTAINING WEBSITE OF FOUNDATION TO SHOWCASE ART HELD IN GALLERY AND NOTIFY PUBLIC OF UPCOMING EVENTS. 0 25 PIECES OF ART LOANED TO 12 GALLERIES AND MUSEUMS EACH FOR PERIODS RANGING FROM 3 MONTHS TO OPEN ENDED. 0 REPRODUCTION OF AN OLD 80'S MOVIE USING ACTORS FROM VARIOUS HARLEM SCHOOLS IN HELPING OUT THE COMMUNITY. 0 0 6667838 3203185 7702434 17573457 0 0 17573457 263602 17309855 865493 X 2019891 0 2019891 2007-12-26 X 399978 258346 336417 137322 1132063 339981 219594 285954 116724 962254 2019891 1122690 1301409 1407162 5851152 0 0 0 0 0 2019891 1122690 1301409 1407162 5851152 0 0 576995 287529 224278 119610 1208412 0 0 0 0 GLENN FUHRMAN X 92ND STREET Y 1395 LEXINGTON AVENUE NEW YORK NY 10128 NONE PC FOR DONEE'S EXEMPT PURPOSE 10000 ARETE LIVING ARTS FOUNDATION 44-70 21ST STREET SUITE 1015 LONG ISLAND CITY NY 11101 NONE PC FOR DONEE'S EXEMPT PURPOSE 10000 AVENUES FOR JUSTICE INC 100 CENTRE STREET SUITE 1541 NEW YORK NY 10013 NONE PC FOR DONEE'S EXEMPT PURPOSE 5000 NEW YORK ACADEMY OF ART 111 FRANKLIN STREET NEW YORK NY 10013 NONE PC FOR DONEE'S EXEMPT PURPOSE 3000 THE CONTEMPORARY AUSTIN 3809 WEST 35TH STREET AUSTIN TX 78703 NONE PC FOR DONEE'S EXEMPT PURPOSE 400000 THE STUDIO MUSEUM IN HARLEM 144 WEST 125TH STREET NEW YORK NY 10027 NONE PC FOR DONEE'S EXEMPT PURPOSE 15000 443000 0 14 8683 14 77952 901101 348 18 -712141 01 3429 FOREIGN CURRENCY LOSS 01 -3712 MSD AQUA PARTNERS LP 14 -1287 MSD PRIVATE CREDIT OPPORTUNITY FUND LP 901101 4585 14 176881 MSD RING PARTNERS LP 901101 131441 14 -5202 REBATE INCOME 01 2724 136374 -452673 0 -316299 0 0 0 0 0 0 0 0 0 0 X X 1 GLENN FUHRMAN 640 PARK AVE 11FL NEW YORK NY 10065 20551900 X 1 87,200 SHS GITLAB INC. 5000000 2022-03-29 1 140,000 SHS VMWARE, INC. 15551900 2022-10-25 TAX PREPARATION FEES 43438 0 0 41288 COMPUTER EQUIPMENT 4961 4961 SL 5.000000000000 0 0 0 LEASEHOLD IMPROVEMENTS 2018-01-12 120142 12324 SL 39.000000000000 3081 0 3081 FORM 990-PF, PART I, LINE 10A GROSS SALES OF $3,429 IS FROM CATALOGUE SALES. FORM 990-PF, PART VI-B, LINE 1A(1) THE FOUNDATION LEASES SPACE FROM FLAG ART PROPERTY LLC, A LIMITED LIABILITY COMPANY WHICH IS 100% OWNED BY GLENN FUHRMAN, A DISQUALIFIED PERSON. THE LEASE AGREEMENT PROVIDES FOR RENT OF $0. FORM 990-PF, PART XIV, LINE 2 THE FLAG ART FOUNDATION ("FOUNDATION") WAS CREATED ON MAY 25, 2007 AS A NON-PROFIT CORPORATION TO PROMOTE THE STUDY, IMPROVEMENT AND ADVANCEMENT OF THE VISUAL ARTS, TO FURTHER THE PUBLIC'S APPRECIATION AND UNDERSTANDING OF ACHIEVEMENTS AND ART WORKS ELICITED BY ART, ARCHITECTURE AND LANDSCAPE, TO LOAN WORKS OF ART TO OTHER PUBLIC CHARITIES FOR EXHIBITION, AND TO HOLD AND SUPPORT EXHIBITIONS OF POSTWAR AND CONTEMPORARY WORKS OF ART.THE FOUNDATION WILL OWN (OR HAVE LOANED TO IT FROM OTHERS) PAINTINGS, DRAWINGS AND OTHER WORKS OF ART, AND MAY ALSO OWN OR HAVE LOANED TO IT BOOKS, PUBLICATIONS AND ARCHIVAL MATERIALS RELATED TO WORKS OF ART. THE FOUNDATION WILL USE THESE ITEMS TO CARRY OUT ITS CHARITABLE, EDUCATIONAL AND CULTURAL PROGRAMS AS DESCRIBED BELOW.A PRINCIPAL ACTIVITY OF THE FOUNDATION WILL BE TO CIRCULATE WORKS OF ART ON A CONTINUING BASIS TO EDUCATIONAL INSTITUTIONS, PUBLIC MUSEUMS AND SIMILAR SECTION 501(C)(3) INSTITUTIONS FOR PUBLIC EXAMINATION AND DISPLAY AND USE BY TEACHERS, SCHOLARS AND OTHERS FOR STUDY OF ART AND CULTURE. THE FOUNDATION WILL NOT CHARGE THE INSTITUTIONS TO WHICH IT LENDS WORKS OF ART FOR THEIR USE OF THESE WORKS, BUT THE INSTITUTIONS SOMETIMES MAY BE EXPECTED TO PAY FOR TRANSPORTATION COSTS AND COSTS ASSOCIATED WITH SAFEKEEPING AND PRESERVATION OF THE ART WHILE AT SUCH INSTITUTIONS. MSD AQUA PARTNERS LP FMV 688614 4187378 MSD PRIVATE CREDIT OPPORTUNITY FUND LP FMV 1557272 1530954 MSD RING PARTNERS LP FMV 0 1439968 COMPUTER EQUIPMENT 4961 4961 0 LEASEHOLD IMPROVEMENTS 120142 15405 104737 LEGAL FEES 1700 0 0 1700 ARTWORK 2275000 2832843 2832843 PRIOR PERIOD ADJUSTMENT 110 ART ADVERTISING 60581 0 0 60581 ART RELATED EXPENSES 36461 0 0 36461 ART SHIPPING AND HANDLING 132292 0 0 132292 BANK CHARGES 61 61 0 0 COMMUNICATIONS 49500 0 0 49500 DUES AND SUBSCRIPTIONS 9090 0 0 9090 EXHIBITION EXPENSE 79639 0 0 79639 INSURANCE 37017 0 0 37017 MEALS 10194 0 0 10194 MISCELLANEOUS EXPENSES 2468 0 0 2468 NYS DEPT OF LAW 750 0 0 750 NYS FILING FEE 59 0 0 59 OFFICE SUPPLIES 12033 0 0 12033 PAYROLL PROCESSING FEES 2695 0 0 2695 REPAIRS AND MAINTENANCE 12437 0 0 12437 STORAGE EXPENSE 8956 0 0 8956 TELEPHONE 3516 0 0 3516 FOREIGN CURRENCY LOSS -3712 -3712 -3712 MSD AQUA PARTNERS LP -1287 -1287 -1287 MSD PRIVATE CREDIT OPPORTUNITY FUND LP 181466 176881 181466 MSD RING PARTNERS LP 126239 -5061 126239 REBATE INCOME 2724 2724 2724 DUE TO MSD RING PARTNERS LP 482192 392369 DUE TO FUHRMAN FAMILY FOUNDATION 0 2117 IT CONSULTANT 480 0 0 480 MANAGEMENT FEES 58064 0 0 58064 FEDERAL EXCISE TAX 291000 0 0 291000 PAYROLL TAXES 20717 0 0 20717