2022-11-15T16:56:34-06:00 2021-12-31 113118865 ZAPKEN & LOEB LLP 3 CROSSWAYS PARK DRIVE WEST WOODBURY NY 11797 990 2021-01-01 133120824 APERTURE FOUNDATION INC APER 2125055555 548 WEST 28TH STREET 4TH FLOOR NEW YORK NY 10001 SARAH MEISTER EXECUTIVE DIR. 5168225000 2022-11-15 1 SARAH MEISTER XXX-XX-XXXX JEFFREY ISAACSON P00569585 5168225000 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SARAH MEISTER 548 WEST 28TH STREET 4TH FLOOR NEW YORK NY 10001 8693223 0 X APERTURE.ORG X 1982 NY PUBLICATION OF BOOKS, MAGAZINES, AND MAINTENANCE OF AN ART GALLERY FOR THE PURPOSE OF PROMOTING AN APPRECIATION OF PHOTOGRAPHY & VISUAL ARTS. 27 27 42 0 375312 0 1913058 2738134 507908 560234 5765 601 3866357 3606897 6293088 6905866 0 0 0 0 2898584 3436206 0 0 940616 3693870 2563122 6592454 5999328 -299366 906538 8581551 9605645 2885259 3003643 5696292 6602002 PUBLICATION OF BOOKS, MAGAZINES, AND MAINTENANCE OF AN ART GALLERY FOR THE PURPOSE OF PROMOTING AN APPRECIATION OF PHOTOGRAPHY & VISUAL ARTS. 0 0 3747257 PUBLICATION OF BOOKS AND MAGAZINES AND MAINTENANCE OF ART GALLERY FOR THE PURPOSE OF PROMOTING APPRECIATION OF PHOTOGRAPHY AND VISUAL ARTS 3747257 1 1 0 0 0 0 0 1 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 239 0 1 42 1 1 1 0 0 0 1 1 1 1 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 1 1 0 NY X MARY COLMAN ST JOHN 2125055555 548 WEST 28TH STREET 4TH FLOOR NEW YORK NY 10001 ALLAN CHAPIN TRUSTEE 0.00 X 0 0 0 ANDREW E LEWIN TRUSTEE 0.00 X 0 0 0 CATHY KAPLAN TTEE/CHAIRMAN 0.00 X X 0 0 0 DAWOUD BEY TRUSTEE 0.00 X 0 0 0 ELAINE GOLDMAN TRUSTEE 0.00 X 0 0 0 ELIZABETH KAHANE TRUSTEE 0.00 X 0 0 0 HELEN NITKIN TRUSTEE 0.00 X 0 0 0 JOEL MEYEROWITZ TRUSTEE 0.00 X 0 0 0 JULIA JOERN TRUSTEE 0.00 X 0 0 0 KATE CORDSEN TRUSTEE 0.00 X 0 0 0 LISA ROSENBLUM TRUSTEE 0.00 X 0 0 0 MELISSA O'SHAUGHNESSY TRUSTEE 0.00 X 0 0 0 MICHAEL HOEH TRUSTEE/TREAS 0.00 X X 0 0 0 PETER BARBUR TRUSTEE 0.00 X 0 0 0 PHILLIPPE LAUMONT TRUSTEE 0.00 X 0 0 0 STEPHEN NICHOLAS TRUSTEE 0.00 X 0 0 0 STUART COOPER TRUSTEE 0.00 X 0 0 0 TOM SCHIFF TRUSTEE 0.00 X 0 0 0 VASANT NAYAK TRUSTEE 0.00 X 0 0 0 SARAH MEISTER EXECUTIVE DIR. 40.00 X X 168464 0 0 JULIE BEDARD TRUSTEE 0.00 X 0 0 0 KWAME BRATHWAITE TRUSTEE 0.00 X 0 0 0 LYLE ASHTON HARRIS TRUSTEE 0.00 X 0 0 0 LINDSAY MCCRUM TRUSTEE 0.00 X 0 0 0 COLETTE VEASEY-CULLORS TRUSTEE 0.00 X 0 0 0 CASEY WEYAND TRUSTEE 0.00 X 0 0 0 DEBORAH WILLIS TRUSTEE 0.00 X 0 0 0 MARY COLMAN ST JOHN CFO 40.00 X 148833 0 8736 KELLIE MCLAUGHLIN EMPLOYEE 40.00 X 124812 0 16208 CHRIS BOOT FRMR EXEC DIRECT. 0.00 X 101108 0 0 543217 0 24944 4 1 1 0 0 X 55710 544546 2137878 2738134 SUBSCRIPTIONS 560234 560234 560234 601 601 487486 55710 47983 439503 439503 4444094 1739374 2704720 2704720 ADVERTISING 541800 375312 375312 COMPETITION ENTRY FEES 34401 34401 MISCELLANEOUS INCOME 22860 22860 30101 30101 462674 6905866 3264954 375312 527466 X 404810 404810 2469608 1461878 424142 583588 304545 304545 257243 163179 40131 53933 4735 4735 27000 27000 172760 38501 127045 7214 8974 8974 30927 22422 3866 4639 158724 36198 115037 7489 506270 506270 344034 249425 43004 51605 34685 9283 24953 449 52 52 4608 4608 58799 58799 46072 24956 15953 5163 SPECIAL EVENTS & ANNUAL 282354 41672 240682 LOSS ON WRITEDOWN OF IN 267896 267896 POSTAGE 172210 159685 10058 2467 EXHIBITS 141974 141974 301048 210082 107579 -16613 5999328 3747257 1311455 940616 3199622 3382259 0 893824 734856 811827 994884 0 0 868442 746220 1271572 1684387 149609 142788 1859344 1765922 133315 93422 85 11001 0 0 0 1253255 1815828 8581551 9605645 630062 1058595 937031 544546 1318166 1400502 2885259 3003643 X 1075332 2124606 4620960 4477396 5696292 6602002 8581551 9605645 906538 -828 0 X 0 1 X 1 0 X 1414640 3210025 4463358 1913058 2193588 13194669 5591916 5245576 4852146 5592796 5082002 26364436 855929 924537 650351 333898 487486 3252201 7862485 9380138 9965855 7839752 7763076 42811306 1071300 3241556 2055597 1298846 1028761 8696060 1255979 942 1256921 1071300 3241556 3311576 1299788 1028761 9952981 32858325 40 40 17148 5765 601 23594 40 40 17148 5765 601 23594 7862525 9380178 9983003 7845517 7763677 42834900 0.76710 0.77080 0.00060 0.00060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1083077 X X 0 1256342 1254723 1619 603002 511199 91803 93422 SECURITY DEPOSIT 23917 ARTWORK OBTAINED BY GIFT OR BEQUEST 1083077 DEFERRED EXPENSES 7094 ERC RECEIVABLE 701740 1815828 DEFERRED INCOME 480928 NOTES PAYABLE 746220 RESERVE FOR RETURNS 173354 1400502 X 9218700 -828 2313662 2312834 6905866 0 6905866 8312990 2313662 2313662 5999328 0 5999328 PART III, LINE 4: COLLECTIONS ARE MAINTAINED TO SUPPORT THE ORGANIZATION'S MISSION OF PROMOTING AN APPRECIATION OF PHOTOGRAPHY AND VISUAL ARTS. PART X, LINE 2: PURSUANT TO THE ACCOUNTING GUIDANCE CONCERNING PROVISIONS FOR UNCERTAIN INCOME TAX POSITIONS CONTAINED IN THE FINANCIAL ACCOUNTING STANDARDS BOARD'S ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740-10, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE AND ACCORDINGLY, NO PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS FOR ANY FEDERAL TAXES. THE ORGANIZATION IS NO LONGER SUBJECT TO FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2018 PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,739,375. FUNDRAISING DIRECT EXPENSES 47,983. ERC CREDIT 526,304. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,739,375. FUNDRAISING DIRECT EXPENSES 47,983. ERC CREDIT 526,304. X X X X X X X 1 NY ANNUAL BENEFIT 543196 55710 487486 7860 958 23900 15266 543196 55710 487486 7860 958 23900 15266 47984 439502 X X X X 0 0 0 0 0 0 0 0 0 SARAH MEISTER EXECUTIVE DIR. 168464 0 0 0 0 0 0 0 0 0 168464 0 0 0 MARY COLMAN ST JOHN CFO 148833 0 0 0 0 0 0 0 8736 0 157569 0 0 0 CHRIS BOOT FRMR EXEC DIRECT. 101108 0 0 0 0 0 0 0 0 0 101108 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - FORM 990 REVIEW CONDUCTED BY EXECUTIVE DIRECTOR, CFO & AUDIT COMMITTEE FORM 990, PART VI, SECTION B, LINE 15 WHEN RECRUITING FOR THE CEO POSITION IN 2010, THE BOARD ENGAGED A RECRUITING CONSULTANT TO HELP WITH THE SEARCH, REVIEW APPLICATIONS, AND DETERMINE COMPENSATION USING COMPARABLE COMPENSATION DATA. THE BOARD APPROVED A 10% SALARY INCREASE IN 2015, THE FIRST RAISE SINCE THE CEO WAS HIRED. IN 2020, THE BOARD ENGAGED A RECRUITING FIRM TO HIRE A NEW EXECUTIVE DIRECTOR TO REPLACE CHRIS BOOT, WHO RETIRED IN APRIL 2021. THE RECRUITING FIRM HELPED WITH THE SEARCH, REVIEWED APPLICATIONS, AND PROVIDED COMPARABLE COMPENSATION TO HELP ESTABLISH COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION AVAILABLE UPON REQUEST PPP LOAN FORGIVENESS ON APRIL 7, 2020 THE ORGANIZATION TOOK OUT A PAYCHECK PROTECTION PROGRAM (PPP) LOAN IN THE AMOUNT OF $544,546 UNDER THE CARES ACT. THE ORGANIZATION USED THIS LOAN AMOUNT FOR QUALIFYING EXPENDITURES AND AS SUCH WAS ELIGIBLE TO HAVE THE LOAN AMOUNT FORGIVEN IN MARCH 2021 BY THE SMALL BUSINESS ADMINISTRATION. THE AMOUNT IS REPORTED AS GOVERNMENT GRANT CONTRIBUTION ON LINE 1E OF PART VIII. FORM 990, PART IX, LINE 24E PERIODICAL MAILING: PROGRAM SERVICE EXPENSES 141,184. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 141,184. COMMISSIONS & FEES: PROGRAM SERVICE EXPENSES 132,810. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 132,810. BANK & CREDIT CARD CHARGES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 84,196. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,196. TRADE SHOWS: PROGRAM SERVICE EXPENSES 72,870. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 72,870. PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 48,846. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 48,846. PRIZES: PROGRAM SERVICE EXPENSES 48,565. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 48,565. MEMBERSHIPS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 38,075. TOTAL EXPENSES 38,075. CONTRIBUTION EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 30,000. TOTAL EXPENSES 30,000. EDUCATION: PROGRAM SERVICE EXPENSES 27,666. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,666. TELEPHONE: PROGRAM SERVICE EXPENSES 20,009. MANAGEMENT AND GENERAL EXPENSES 3,450. FUNDRAISING EXPENSES 4,140. TOTAL EXPENSES 27,599. CATALOGS & DIRECT MAIL: PROGRAM SERVICE EXPENSES 22,910. MANAGEMENT AND GENERAL EXPENSES 328. FUNDRAISING EXPENSES 2,508. TOTAL EXPENSES 25,746. REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 18,198. MANAGEMENT AND GENERAL EXPENSES 3,138. FUNDRAISING EXPENSES 3,765. TOTAL EXPENSES 25,101. BAD DEBTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 24,670. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,670. CONSIGNMENT: PROGRAM SERVICE EXPENSES 22,348. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,348. UTILITIES: PROGRAM SERVICE EXPENSES 13,615. MANAGEMENT AND GENERAL EXPENSES 2,348. FUNDRAISING EXPENSES 2,817. TOTAL EXPENSES 18,780. EQUIPMENT: PROGRAM SERVICE EXPENSES 13,031. MANAGEMENT AND GENERAL EXPENSES 2,247. FUNDRAISING EXPENSES 2,696. TOTAL EXPENSES 17,974. OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 12,221. MANAGEMENT AND GENERAL EXPENSES 5,400. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,621. DUES & SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 2,999. MANAGEMENT AND GENERAL EXPENSES 239. FUNDRAISING EXPENSES 4,990. TOTAL EXPENSES 8,228. VAULT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,000. ARCHIVE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,693. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,693. SECURITY: PROGRAM SERVICE EXPENSES 1,171. MANAGEMENT AND GENERAL EXPENSES 202. FUNDRAISING EXPENSES 242. TOTAL EXPENSES 1,615. DEVELOPMENT EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 450. FUNDRAISING EXPENSES 745. TOTAL EXPENSES 1,195. RESEARCH: PROGRAM SERVICE EXPENSES 767. MANAGEMENT AND GENERAL EXPENSES 132. FUNDRAISING EXPENSES 159. TOTAL EXPENSES 1,058. LECTURES: PROGRAM SERVICE EXPENSES 1,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,000. TAXES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 813. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 813. RELOCATION: PROGRAM SERVICE EXPENSES 507. MANAGEMENT AND GENERAL EXPENSES 87. FUNDRAISING EXPENSES 105. TOTAL EXPENSES 699. EMPLOYMENT RETENTION CREDIT - WAGE REDUCTION AMOUNT : PROGRAM SERVICE EXPENSES -341,789. MANAGEMENT AND GENERAL EXPENSES -77,660. FUNDRAISING EXPENSES -106,855. TOTAL EXPENSES -526,304. ERC CREDIT THE ORGANIZATION RECORDED AN EMPLOYEE RETENTION CREDIT RECEIVABLE AS OF DECEMBER 31, 2021 RELATED TO THE TAX YEARS 2020 AND 2021. THIS CREDIT IS SHOWN SEPARATELY IN THE FUNCTIONAL EXPENSES ON FORM 990 PART IX , LINE 24E FOR 2021 AS A NEGATIVE AMOUNT OF $526,304. THE CREDIT IS RECORDED NET OF DIRECTLY RELATED EXPENSE.