FORMAN ARTS INITIATIVE INC: Form 990PF, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- FORMAN ARTS INITIATIVE INC (EIN 83-2902185)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-15
- IRS object ID
- 202223199349105927
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Schedule B
- Accounting Fees Schedule
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Increases Schedule
- Other Liabilities Schedule
- Other Professional Fees Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-11-15T14:38:25-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 366055558 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 MARKET STREET SUITE 700 | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19103 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 832902185 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FORMAN ARTS INITIATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FORM | BusinessNameControlTxt |
| Phone | 2154951160 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 ROUSE BLVD | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19112 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | THOMAS TRALA | PersonNm |
| Person Title | TREASURER/SECRETARY | PersonTitleTxt |
| Phone | 2154951160 | PhoneNum |
| Signature | 2022-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | THOMAS | PersonFirstNm |
| Person Last | TRALA | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MICHAEL S JACKSON | PreparerPersonNm |
| PTIN | P00236684 | PTIN |
| Phone | 2155614200 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $83,778,323 | FMVAssetsEOYAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $1,233,020 | ContriRcvdRevAndExpnssAmt |
| Interest On Sav Rev And Expnss | $3 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $3 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $3 | InterestOnSavingsAdjNetIncmAmt |
| Cap Gain Net Incm Net Invst Incm | $0 | CapGainNetIncmNetInvstIncmAmt |
| Net ST Capital Gain Adj Net Incm | $0 | NetSTCapitalGainAdjNetIncmAmt |
| Other Income Rev And Expnss | $2,723 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $0 | OtherIncomeNetInvstIncmAmt |
| Other Income Adj Net Incm | $2,723 | OtherIncomeAdjNetIncmAmt |
| Total Rev And Expnss | $1,235,746 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $3 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $2,726 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $41,870 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $0 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Adj Net Incm | $0 | CompOfcrDirTrstAdjNetIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $0 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $11,228 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Net Invst Incm | $0 | OthEmplSlrsWgsNetInvstIncmAmt |
| Oth Empl Slrs Wgs Adj Net Incm | $0 | OthEmplSlrsWgsAdjNetIncmAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $0 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $12,146 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $11,569 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $12,940 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $12,940 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $251,725 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $0 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Adj Net Incm | $0 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $238,464 | OtherProfFeesDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $150,641 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $0 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $150,641 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $480,550 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $413,614 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $770,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $770,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $1,250,550 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $1,183,614 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$14,804 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $3 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $2,726 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $6,901 | CashBOYAmt |
| Cash EOY | $48,323 | CashEOYAmt |
| Cash EOYFMV | $48,323 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $12,310 | SavAndTempCashInvstBOYAmt |
| Other Assets BOY | $83,630,000 | OtherAssetsBOYAmt |
| Other Assets EOY | $83,730,000 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $83,730,000 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $83,649,211 | TotalAssetsBOYAmt |
| Total Assets EOY | $83,778,323 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $83,778,323 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $23,000 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $13,838 | AccountsPayableEOYAmt |
| Other Liabilities BOY | $0 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $53,098 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $23,000 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $66,936 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $0 | CapitalStockBOYAmt |
| Capital Stock EOY | $0 | CapitalStockEOYAmt |
| Additional Paid In Capital BOY | $0 | AdditionalPaidInCapitalBOYAmt |
| Additional Paid In Capital EOY | $0 | AdditionalPaidInCapitalEOYAmt |
| Retained Earning BOY | $83,626,211 | RetainedEarningBOYAmt |
| Retained Earning EOY | $83,711,387 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $83,626,211 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $83,711,387 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $83,649,211 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $83,778,323 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $83,626,211 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$14,804 | ExcessRevenueOverExpensesAmt |
| Other Increases | $99,980 | OtherIncreasesAmt |
| Subtotal | $83,711,387 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $83,711,387 | TotNetAstOrFundBalancesEOYAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $0 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $0 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $0 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $0 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $0 | TotalPaymentsAndCreditsAmt |
| Es Penalty | $0 | EsPenaltyAmt |
| Tax Due | $0 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | 0 | LegislativePoliticalActyInd |
| More Than100 Spent | 0 | MoreThan100SpentInd |
| Form1120 POL Filed | 0 | Form1120POLFiledInd |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
| Activities Not Previously Rpt | 0 | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | 0 | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | 0 | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (1) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | PA | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | Yes (1) | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | 0 | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (1) | ComplyWithPublicInspRqrInd |
| Website Address | HTTPS://FORMANARTSINITIATIVE.ORG | WebsiteAddressTxt |
| Individual With Books | MICHAEL C FORMAN | IndividualWithBooksNm |
| Phone | 2154951160 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 ROUSE BLVD | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19112 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | 0 | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | 0 | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | 0 | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | Yes (1) | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (1) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | 0 | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | 0 | UncorrectedPriorActsInd |
| Undistributed Income PY | 0 | UndistributedIncomePYInd |
| Business Holdings | 0 | BusinessHoldingsInd |
| Jeopardy Investments | 0 | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | 0 | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | 0 | InfluenceLegislationInd |
| Influence Election | 0 | InfluenceElectionInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| 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 | $41,870 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| DVDL DESIGN | |||||
| 1133 BROADWAY STE 1201 | NEW YORK | NY | 10010 | CONSULTING/ORG. DEV. | $150,000 |
| FB CAPITAL PARTNERS LP | |||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | ACCOUNTING | $53,098 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | PROMOTE THE STUDY, EDUCATION, DISPLAY AND ADVANCEMENT OF THE ARTS | Description1Txt |
| Expenses1 | $413,614 | Expenses1Amt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $32,623 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $32,623 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $32,623 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $489 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $32,134 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $1,607 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sect4942j3j5 Fndtn And Frgn Org | Yes (X) | Sect4942j3j5FndtnAndFrgnOrgInd |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $1,183,614 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $1,183,614 | QualifyingDistributionsAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Fndtn Ruling | 2020-11-13 | PrivateOperatingFndtnRulingDt |
| Section4942j3 | Yes (X) | Section4942j3Ind |
Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,607 | CurrentYearAmt |
| Year1 | $33 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $1,640 | TotalAmt |
Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,366 | CurrentYearAmt |
| Year1 | $28 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $1,394 | TotalAmt |
Qualifying Distributions QualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,183,614 | CurrentYearAmt |
| Year1 | $1,132,220 | Year1Amt |
| Year2 | $369,947 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $2,685,781 | TotalAmt |
Qualifying Distri Not Used Drt QualifyingDistriNotUsedDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $770,000 | CurrentYearAmt |
| Year1 | $870,000 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $1,640,000 | TotalAmt |
Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $413,614 | CurrentYearAmt |
| Year1 | $262,220 | Year1Amt |
| Year2 | $369,947 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $1,045,781 | TotalAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $83,778,323 | CurrentYearAmt |
| Year1 | $83,649,211 | Year1Amt |
| Year2 | $55,786,110 | Year2Amt |
| Year3 | $36,500,000 | Year3Amt |
| Total | $259,713,644 | TotalAmt |
Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $83,730,000 | CurrentYearAmt |
| Year1 | $83,630,000 | Year1Amt |
| Year2 | $51,780,000 | Year2Amt |
| Year3 | $36,500,000 | Year3Amt |
| Total | $255,640,000 | TotalAmt |
Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Support TotalSupportGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Public Support Type PublicSupportType
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Largest Support From EO LargestSupportFromEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Gross Investment Income GrossInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | MICHAEL C FORMAN | ContributingManagerNm |
| Contributing Manager | JENNIFER S RICE | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| DREXEL UNIVERSITY | ||||||
| 3201 ARCH STREET NO 400 | PHILADELPHIA | PA | 19104 | PC | CREATION OF THE FORMAN ARTS INITIATIVE CO-OP PROGRAM FUND AT THE LENFEST CENTER FOR CULTURAL PARTNERSHIPS | $75,000 |
| PHILADELPHIA FOUNDATION | ||||||
| 1835 MARKET STREET NO 2410 | PHILADELPHIA | PA | 19103 | PC | CREATION OF THE ART WORKS FUND. THE PURPOSE OF THE FUND IS TO PROVIDE FUNDS FOR CREATIVITY, CULTURE AND ARTS ORGANIZATIONS AND ARTISTS WORKING IN THE COMMUNITY | $685,000 |
| BLACK WOMEN GIVE FOUNDATION | ||||||
| PO BOX 188 | BALA CYNWYD | PA | 19004 | PC | GENERAL SUPPORT | $10,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $770,000 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $3 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSURANCE EXCESS PREMIUM REFUNDED | Desc |
| Exclusion | 14 | ExclusionCd |
| Exclusion | $2,723 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $2,726 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,726 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | 0 | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | 0 | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | 0 | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | 0 | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | 0 | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | 0 | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | 0 | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | 0 | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | 0 | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | 0 | RelationshipsNonchrtblEOInd |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp (2 entries)
| ContributorContributorNum | Address Line1ContributorUSAddress/AddressLine1Txt | CityContributorUSAddress/CityNm | State AbbreviationContributorUSAddress/StateAbbreviationCd | ZIPContributorUSAddress/ZIPCd | Total ContributionsTotalContributionsAmt | Person ContributionPersonContributionInd |
|---|---|---|---|---|---|---|
| MICHAEL FORMAN | ||||||
| 1 | C/O 201 ROUSE BLVD STE 675 | PHILADELPHIA | PA | 19112 | $473,020 | Yes (X) |
| FORMAN FAMILY FOUNDATION | ||||||
| 2 | C/O 201 ROUSE BLVD STE 675 | PHILADELPHIA | PA | 19112 | $760,000 | Yes (X) |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | GRANT THORNTON LLP | CategoryTxt |
| Amt | $12,940 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $12,940 | DisbursementsCharitablePrpsAmt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | COZEN O'CONNOR | CategoryTxt |
| Legal Fees | $12,146 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $11,569 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp (24 entries)
| DescDesc | BOY Book ValueBOYBookValueAmt | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| JOHN MITCHELL, UNTILTLED | $18,000,000 | $18,000,000 | $18,000,000 |
| BRICE MARDEN PAINTING | $12,500,000 | $12,500,000 | $12,500,000 |
| AD REINHARDT PAINTING | $6,000,000 | $6,000,000 | $6,000,000 |
| KEVIN BEASLEY - SLAB III | $80,000 | $80,000 | $80,000 |
| HURVIN ANDERSON - UNTITLED | $1,500,000 | $1,500,000 | $1,500,000 |
| GEORG BASELITZ - TRAUERSEECHWA | $3,000,000 | $3,000,000 | $3,000,000 |
| JOE BRADLEY - CUMBERLAND 2018 | $1,400,000 | $1,400,000 | $1,400,000 |
| SAM GILLIAM - CAY | $1,200,000 | $1,200,000 | $1,200,000 |
| SAM GILLIAM - BRUSH II | $700,000 | $700,000 | $700,000 |
| GLENN LIGON - DEBRIS FIELD | $500,000 | $600,000 | $600,000 |
| KERRY JAMES MARSHALL - TERRY | $5,000,000 | $5,000,000 | $5,000,000 |
| SEAN SCULLY 0 WALL OF LIGHT | $1,800,000 | $1,800,000 | $1,800,000 |
| RICHARD SERRA-LARGE REVERSAL 6 | $600,000 | $600,000 | $600,000 |
| RICHARD SERRA-LARGE REVERSAL 9 | $600,000 | $600,000 | $600,000 |
| LEE UFAN - DIALOGUE, 2016 | $400,000 | $400,000 | $400,000 |
| JACK WHITTEN - EL NINO | $2,500,000 | $2,500,000 | $2,500,000 |
| JUDD | $11,600,000 | $11,600,000 | $11,600,000 |
| CECILY BROWN - WHERE EVERY SEASON SHINES SHIPWRECK | $2,500,000 | $2,500,000 | $2,500,000 |
| JACK WHITTEN: SPECIAL CHECKING, 1974, | $3,000,000 | $3,000,000 | $3,000,000 |
| JACK WHITTEN "ANCIENT MEMORIES", 1987 | $2,500,000 | $2,500,000 | $2,500,000 |
| JASPER JOHNS - "UNTITLED" SIGNED AND DATED IN INK | $750,000 | $750,000 | $750,000 |
| JASPER JOHNS - "UNTITLED" SIGNED AND DATED IN GRAPHITE | $500,000 | $500,000 | $500,000 |
| KIEFER- GESANG DER GEISTER UBER DEN WASSERN | $3,000,000 | $3,000,000 | $3,000,000 |
| GERHARD RICHTER - ABSTRAKTES BILD | $4,000,000 | $4,000,000 | $4,000,000 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| ART STORAGE | $3,383 | $0 | $0 | $3,383 |
| INSURANCE | $116,960 | $0 | $0 | $116,960 |
| ADVERTISING & MARKETING | $29,510 | $0 | $0 | $29,510 |
| OFFICE SUPPLIES & SOFTWARE | $788 | $0 | $0 | $788 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSURANCE EXCESS PREMIUM REFUNDED | Desc |
| Revenue And Expenses Per Books | $2,723 | RevenueAndExpensesPerBooksAmt |
| Adjusted Net Income | $2,723 | AdjustedNetIncomeAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PRIOR PERIOD ADJUSTMENT | Desc |
| Amt | $99,980 | Amt |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO FB CAPITAL PARTNERS LP | Desc |
| BOY Book Value | $0 | BOYBookValueAmt |
| EOY Book Value | $53,098 | EOYBookValueAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (9 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| DVDL DESIGN | $150,000 | $0 | $0 | $136,739 |
| CEISLER MEDIA AND ISSUE ADVOCACY | $63,514 | $0 | $0 | $63,514 |
| SUB ROSA | $32,628 | $0 | $0 | $32,628 |
| WAVE PHOTOGRAPHY | $3,000 | $0 | $0 | $3,000 |
| UNITED FRONT | $1,800 | $0 | $0 | $1,800 |
| REYKU PRODUCTIONS | $500 | $0 | $0 | $500 |
| $176 | $0 | $0 | $176 | |
| CSC | $100 | $0 | $0 | $100 |
| V3LIMITED LLC | $7 | $0 | $0 | $7 |
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