2025-11-17T13:00:44-06:00 2024-12-31 420714325 RSM US LLP 4 TIMES SQUARE NEW YORK NY 10036 990PF 2024-01-01 260273135 THE FLAG ART FOUNDATION FLAG 2125186682 CO GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 GLENN FUHRMAN PRESIDENT/TREASURER 2125186682 2025-11-14 1 0 LYNNE JOHNSON P00757336 2123721000 2025-11-17 2024 2025-03-06 01:10:19Z X 29584119 X X 19501 19501 19501 475551 475551 475551 1860062 3074515 1859976 1082 28950 -138781 28950 2384064 2216247 525084 0 0 0 0 437056 0 0 437056 50041 0 0 50041 35000 0 0 35000 51798 0 0 40557 162129 154354 0 7775 88 0 0 88 99114 0 0 99114 10352 0 10352 189273 0 0 189273 127176 0 0 127176 865387 506 0 864521 2027414 154860 10352 1850601 208027 208027 2235441 154860 10352 2058628 148623 2061387 514732 2785 3252 3252 15119384 10750530 10750530 8155722 13071151 18040411 243175 37163 200870 206012 206012 1150242 583914 583914 24629003 24614859 29584119 11677 18738 291787 121959 303464 140697 X 430940 430940 0 0 23894599 24043222 24325539 24474162 24629003 24614859 24325539 148623 0 24474162 0 24474162 PUBLICLY TRADED SECURITIES 2488515 654563 1833952 1833952 SALE OF ARTWORK P 2022-11-11 2024-01-11 586000 570242 15758 15758 MSD PRIVATE CREDIT OPPORTUNITY FUND LP (STCG) P 2024-12-31 2024-12-31 1082 1082 MSD PRIVATE CREDIT OPPORTUNITY FUND LP (LTCG) P 2024-12-31 2024-12-31 9506 9506 MSD RING PARTNERS LP (SEC 1231) P 2024-12-31 2024-12-31 -89 -89 UBTI FROM MSD PRIVATE CREDIT OPPORTUNITY FUND LP (LTCG) P 2024-12-31 2024-12-31 -322 -322 UBTI FROM MSD RING PARTNERS LP (SEC 1231) P 2024-12-31 2024-12-31 89 89 1859976 1082 28653 0 28653 0 28653 40655 0 5000 0 45655 X 0 17002 17002 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 THE FOUNDATION 2125186682 C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 GLENN FUHRMAN C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 PRESIDENT/TREASURER 5.00 0 0 0 AMANDA FUHRMAN C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 VICE PRESIDENT 5.00 0 0 0 RISA DANIELS C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 SECRETARY 1.00 0 0 0 LAURA TWERSKY C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 DIRECTOR 1.00 0 0 0 JONATHAN RIDER C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 DIRECTOR 40.00 230000 17362 0 CAROLINE CASSIDY C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 DIRECTOR OF EXHIBITI 40.00 125000 17362 0 MADELINE DEFILIPPIS C/O GLENN FUHRMAN 545 W 25TH ST 9FL NEW YORK NY 100015501 GALLERY MANAGER AND 40.00 68000 16291 0 0 VIRTRU INVESTMENT PARTNERS INC 640 PARK AVE 11TH FL NEW YORK NY 10065 INVESTMENT MANAGEMENT FEES 154354 RSM US LLP 4 TIMES SQUARE NEW YORK NY 10036 ACCOUNTING FEES 51798 0 CONTEMPORARY ART EXHIBITIONS THAT ARE FREE AND OPEN TO THE PUBLIC, INCLUDING PUBLICATIONS PRODUCTION ALONGSIDE THE EXHIBITIONS. THE FOUNDATION ALSO MAINTAINS A WEBSITE TO SHOWCASE ART HELD AT THE GALLERY AND TO NOTIFY THE PUBLIC OF UPCOMING EVENTS. 1569481 ART EXHIBITION WITH THE CONTEMPORARY AUSTIN (TCA) OF PRIZE FUNDS FOR LUBAINA HIMID: MAKE DO AND MEND 75469 31 PIECES OF ART LOANED TO 11 GALLERIES AND MUSEUMS EACH FOR PERIODS RANGING FROM 3 MONTHS TO OPEN ENDED. 0 0 0 9995960 18393891 28389851 0 0 28389851 425848 27964003 1398200 X 2058628 0 2058628 2007-12-26 X 514732 1005693 399978 258346 2178749 437522 854839 339981 219594 1851937 2058628 2052439 2019891 1122690 7253648 0 0 0 0 0 2058628 2052439 2019891 1122690 7253648 0 0 932133 670462 576995 287529 2467119 0 0 0 0 GLENN FUHRMAN X 92ND STREET Y NURSERY SCHOOL 1395 LEXINGTON AVE NEW YORK NY 10128 NONE PC 92NY NURSERY SCHOOL ANNUAL BENEFIT CORPORATE SPONSORSHIP 10000 AMERICAN PATRONS OF THE NATIONAL LIBRARY AND GALLERIES 72 BELFORD ROAD EDINBURGH UK EH4 3DS NONE PC SUPPORT OF ART EXHIBITION: ANDY GOLDSWORTHY 126202 AVENUES FOR JUSTICE INC 69 E 130TH ST 2ND FLOOR NEW YORK NY 10037 NONE PC 14TH ANNUAL BAER FAXT GOLF INVITATIONAL 5000 NEW YORK ACADEMY OF ART 111 FRANKLIN ST NEW YORK NY 10013 NONE PC SUPPORT OF TRIBECA BALL 2024 13380 NEW YORK ACADEMY OF ART 111 FRANKLIN ST NEW YORK NY 10013 NONE PC SUPPORT OF TAKE HOME A NUDE 2024 10000 NEW YORK ROAD RUNNERS INC 156 W 56TH ST NEW YORK NY 10019 NONE PC 2024 GRIDIRON CLASSIC 1245 THE STUDIO MUSEUM IN HARLEM 144 W 125TH ST NEW YORK NY 10027 NONE PC TO CREATE TRANSFORMATIVE PROGRAMMING AND FOSTER THE WORKS OF VISIONARY ARTISTS 42200 208027 0 14 19501 14 475551 901101 233 18 1859829 COMVEST INVESTMENT PARTNERS VI-A LP 901101 -29903 14 -255877 MSD AQUA PARTNERS LP 14 -4371 MSD PRIVATE CREDIT OPPORTUNITY FUND LP 901101 4675 14 160742 MSD RING PARTNERS LP 901101 194341 14 973 SEE ME BROADWAY LLC 14 -157219 VOLTAGESQUARED GMBH& CO. KG 14 -9745 CONSULTANT SERVICES INCOME 01 2500 EXHIBITION REVENUE 120000 REBATE INCOME 01 2834 169346 2094718 120000 2384064 11 EXHIBITION REVENUE FROM THE CONTEMPORARY AUSTIN (TCA) OF PRIZE FUNDS OF LUBAINA HIMID: MAKE DO AND MEND 0 0 0 0 0 0 0 0 0 0 TAX PREPARATION FEES 51798 0 0 40557 COMPUTER EQUIPMENT 4961 4961 SL 5.000000000000 0 0 0 LEASEHOLD IMPROVEMENTS 2018-01-12 120142 18486 SL 39.000000000000 3081 0 3081 LEASEHOLD IMPROVEMENTS 2023-03-02 44167 944 SL 39.000000000000 1132 0 1132 SECURITY SYSTEM 2023-07-25 38523 2293 SL 7.000000000000 5503 0 5503 LEASEHOLD IMPROVEMENTS 2023-09-29 19888 127 SL 39.000000000000 510 0 510 LEASEHOLD IMPROVEMENTS 2024-07-22 5600 SL 39.000000000000 60 0 60 LEASEHOLD IMPROVEMENTS 2024-09-04 5494 SL 39.000000000000 47 0 47 LEASEHOLD IMPROVEMENTS 2024-10-29 4400 SL 39.000000000000 19 0 19 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. COMVEST INVESTMENT PARTNERS VI-A, LP AT COST 738005 1399672 CORVEX SELECT EQUITY OFFSHORE FUND LTD. AT COST 5000000 6350646 MSD AQUA PARTNERS LP AT COST 31319 0 MSD PRIVATE CREDIT OPPORTUNITY FUND AT COST 1168774 819541 MSD RING PARTNERS LP AT COST 0 2453448 SEE ME BROADWAY LLC AT COST 42781 200000 KERNEL FOODS, INC. AT COST 999995 999995 VOLTAGESQUARED GMBH &CO. KG AT COST 2090277 1982738 WOODMONT INVESTMENTS LTD AT COST 3000000 3834371 COMPUTER EQUIPMENT 4961 4961 0 0 LEASEHOLD IMPROVEMENTS 120142 21567 98575 98575 LEASEHOLD IMPROVEMENTS 44167 2076 42091 42091 SECURITY SYSTEM 38523 7796 30727 30727 LEASEHOLD IMPROVEMENTS 19888 637 19251 19251 LEASEHOLD IMPROVEMENTS 5600 60 5540 5540 LEASEHOLD IMPROVEMENTS 5494 47 5447 5447 LEASEHOLD IMPROVEMENTS 4400 19 4381 4381 LEGAL FEES 35000 0 0 35000 ARTWORK 1150242 583914 583914 ART ADVERTISING 39850 0 0 39850 ART RELATED EXPENSES 20963 0 0 20963 ART SHIPPING & HANDLING 152837 0 0 152837 BANK CHARGES 506 506 0 0 CATALOGUE EXPENSE 60231 0 0 60231 COMMUNICATIONS 84000 0 0 84000 DUE & SUBSCRIPTIONS 13004 0 0 13004 EXHIBITON EXPENSE 394812 0 0 394812 FILING FEES 379 0 0 379 INSURANCE 26260 0 0 26260 LATE FILING PENALTIES 360 0 0 0 MEALS 9591 0 0 9591 MISCELLANEOUS EXPENSES 8965 0 0 8965 NYS DEPT OF LAW 750 0 0 750 NYS FILING FEE 50 0 0 50 OFFICE EXPENSE 11183 0 0 11183 PAYROLL PROCESSING FEES 2873 0 0 2873 REPAIRS & MAINTENANCE 23522 0 0 23522 STORAGE EXPENSE 11298 0 0 11298 TELEPHONE 3953 0 0 3953 COMVEST INVESTMENT PARTNERS VI-A LP -285780 -255877 -285780 MSD AQUA PARTNERS LP -4371 -4371 -4371 MSD PRIVATE CREDIT OPPORTUNITY FUND LP 165417 160742 165417 MSD RING PARTNERS LP 195314 1974 195314 SEE ME BROADWAY LLC -157219 -156838 -157219 VOLTAGESQUARED GMBH& CO. KG -9745 -9745 -9745 CONSULTANT SERVICES INCOME 2500 2500 2500 EXHIBITION REVENUE 120000 120000 120000 REBATE INCOME 2834 2834 2834 DUE TO MSD RING PARTNERS LP 291787 121959 EVENT PHOTOGRAPHER 7775 0 0 7775 INVESTMENT MANAGEMENT FEES 154354 154354 0 0 FEDERAL EXCISE TAX 65000 0 0 65000 PAYROLL TAXES 30472 0 0 30472 STATE TAXES 3642 0 0 3642