FORMAN ARTS INITIATIVE INC: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- FORMAN ARTS INITIATIVE INC (EIN 83-2902185)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202513219349107641
- Schema version
- 2024v5.2
- 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
- Accounting Fees Schedule
- Investments Land Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Increases Schedule
- Other Liabilities Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-17T18:12:57-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 991856619 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 THIRD AVENUE 9TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100172013 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | 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 | 2025-11-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DANIEL ROMANO | PreparerPersonNm |
| PTIN | P00504182 | PTIN |
| Phone | 2125990100 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $79,041,547 | 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 | $0 | ContriRcvdRevAndExpnssAmt |
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $176,353 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $176,353 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $176,353 | InterestOnSavingsAdjNetIncmAmt |
| Dividends Rev And Expnss | $28,013 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $28,013 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $28,013 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $3,041,815 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $12,800,000 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $6,776,003 | CapGainNetIncmNetInvstIncmAmt |
| Net ST Capital Gain Adj Net Incm | $0 | NetSTCapitalGainAdjNetIncmAmt |
| Other Income Rev And Expnss | $23,542 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $0 | OtherIncomeNetInvstIncmAmt |
| Other Income Adj Net Incm | $23,542 | OtherIncomeAdjNetIncmAmt |
| Total Rev And Expnss | $3,269,723 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $6,980,369 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $227,908 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $394,189 | 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 | $348,142 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $93,194 | 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 | $93,194 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $207,465 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Net Invst Incm | $0 | PensionEmplBnftNetInvstIncmAmt |
| Pension Empl Bnft Adj Net Incm | $0 | PensionEmplBnftAdjNetIncmAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $207,465 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $61,626 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $34,450 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $152,947 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $169,469 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $240,834 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $0 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Adj Net Incm | $0 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $253,540 | OtherProfFeesDsbrsChrtblAmt |
| Interest Rev And Expnss | $102,808 | InterestRevAndExpnssAmt |
| Interest Net Invst Incm | $0 | InterestNetInvstIncmAmt |
| Interest Adj Net Incm | $0 | InterestAdjNetIncmAmt |
| Interest Dsbrs Chrtbl | $0 | InterestDsbrsChrtblAmt |
| Taxes Rev And Expnss | $100,000 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $0 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $0 | TaxesAdjNetIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Occupancy Rev And Expnss | $185,742 | OccupancyRevAndExpnssAmt |
| Occupancy Net Invst Incm | $0 | OccupancyNetInvstIncmAmt |
| Occupancy Adj Net Incm | $0 | OccupancyAdjNetIncmAmt |
| Occupancy Dsbrs Chrtbl | $0 | OccupancyDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $20,755 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Net Invst Incm | $0 | TravConfMeetingNetInvstIncmAmt |
| Trav Conf Meeting Adj Net Incm | $0 | TravConfMeetingAdjNetIncmAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $20,755 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $195,936 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $0 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $0 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $235,228 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $1,755,496 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $0 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $1,362,243 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $467,732 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $394,300 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $2,223,228 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $0 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $1,756,543 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $1,046,495 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $6,980,369 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $227,908 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $205,862 | CashBOYAmt |
| Cash EOY | $17,121 | CashEOYAmt |
| Cash EOYFMV | $17,121 | CashEOYFMVAmt |
| Sav And Temp Cash Invst EOY | $8,597,166 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $8,597,166 | SavAndTempCashInvstEOYFMVAmt |
| Acct Rcvbl | $32,514 | AcctRcvblAmt |
| Acct Rcvbl BOY | $1,405 | AcctRcvblBOYAmt |
| Acct Rcvbl EOY | $32,514 | AcctRcvblEOYAmt |
| Acct Rcvbl EOYFMV | $32,514 | AcctRcvblEOYFMVAmt |
| Invst Land Cost Or Other Basis | $14,819,746 | InvstLandCostOrOtherBasisAmt |
| Land Bldg Investments BOY | $13,487,015 | LandBldgInvestmentsBOYAmt |
| Land Bldg Investments EOY | $14,819,746 | LandBldgInvestmentsEOYAmt |
| Land Bldg Investments EOYFMV | $14,819,746 | LandBldgInvestmentsEOYFMVAmt |
| Other Assets BOY | $69,850,000 | OtherAssetsBOYAmt |
| Other Assets EOY | $62,950,000 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $55,575,000 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $83,544,282 | TotalAssetsBOYAmt |
| Total Assets EOY | $86,416,547 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $79,041,547 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $130,002 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $157,634 | AccountsPayableEOYAmt |
| Grants Payable BOY | $340,000 | GrantsPayableBOYAmt |
| Grants Payable EOY | $70,000 | GrantsPayableEOYAmt |
| Other Liabilities BOY | $226,825 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $214,963 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $696,827 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $442,597 | 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 | $82,847,455 | RetainedEarningBOYAmt |
| Retained Earning EOY | $85,973,950 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $82,847,455 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $85,973,950 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $83,544,282 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $86,416,547 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $82,847,455 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $1,046,495 | ExcessRevenueOverExpensesAmt |
| Other Increases | $2,080,000 | OtherIncreasesAmt |
| Subtotal | $85,973,950 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $85,973,950 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (3 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt |
|---|---|---|---|---|---|---|---|
| ART SALE - #1 | D | 2019-12-30 | 2024-04-22 | $850,000 | $418,700 | $431,300 | $431,300 |
| ART SALE - #2 | D | 2019-12-30 | 2024-06-06 | $6,950,000 | $3,093,000 | $3,857,000 | $3,857,000 |
| ART SALE - #3 | D | 2020-12-30 | 2024-09-04 | $5,000,000 | $2,512,297 | $2,487,703 | $2,487,703 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $6,776,003 | CapitalGainNetIncomeAmt |
| Net Short Term Capital Gain Loss | $0 | NetShortTermCapitalGainLossAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $97,027 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $97,027 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $97,027 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $102,330 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $56,000 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $158,330 | TotalPaymentsAndCreditsAmt |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $61,303 | OverpaymentAmt |
| Applied To ES Tax | $61,303 | AppliedToESTaxAmt |
| Refund | $0 | RefundAmt |
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 | Yes (1) | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| 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 (10 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/CFO | 10.00 | $121,176 | $0 | $0 |
| ADJOA JONES DE ALMEIDA | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | EXECUTIVE DIRECTOR | 40.00 | $257,544 | $16,469 | $0 |
| JAIME FRANKURT | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | BOARD OF DIRECTOR | 1.00 | $0 | $0 | $0 |
| LUKE NIKAS | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | BOARD OF DIRECTOR | 1.00 | $0 | $0 | $0 |
| WILLIAM R HITE JR | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | BOARD OF DIRECTOR | 1.00 | $0 | $0 | $0 |
| RASHID JOHNSON | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | BOARD OF DIRECTOR | 1.00 | $0 | $0 | $0 |
| WENDELL PRITCHETT | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | BOARD OF DIRECTOR | 1.00 | $0 | $0 | $0 |
| JUDILEE REED | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | BOARD OF DIRECTOR | 1.00 | $0 | $0 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee BenefitsEmployeeBenefitsAmt | Expense AccountExpenseAccountAmt |
|---|---|---|---|---|---|---|---|---|
| SUNANDA GHOSH | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | ASSOCIATE EXECUTIVE | 40.00 | $113,067 | $8,959 | $0 |
| WILLIAM MARCELLUS ARMSTRONG | ||||||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | PROGRAM MANAGER | 40.00 | $77,329 | $8,955 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FB CAPITAL PARTNERS LP | |||||
| 201 ROUSE BLVD | PHILADELPHIA | PA | 19112 | ACCOUNTING | $259,799 |
| DVDL DESIGN | |||||
| 1133 BROADWAY STE 1201 | NEW YORK | NY | 10010 | CONSULTING/ORG. DEV. | $173,960 |
| COZEN O'CONNOR | |||||
| 1650 MARKET STREET SUITE 2800 | PHILADELPHIA | PA | 19103 | LEGAL SERVICES | $56,140 |
| BLUE MEDIUM INC | |||||
| 526 W 26TH ST 708 | NEW YORK | NY | 10001 | ADVERTISING AND MARKETING | $51,798 |
| 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, CREATION, DISPLAY, ENGAGEMENT WITH AND GENERAL ADVANCEMENT OF THE ARTS | Description1Txt |
| Expenses1 | $1,362,243 | 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 | $4,243,344 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $14,189,964 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $18,433,308 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $18,433,308 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $276,500 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $18,156,808 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $907,840 | 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 | $1,756,543 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $1,756,543 | QualifyingDistributionsAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Fndtn Ruling | 2018-12-20 | PrivateOperatingFndtnRulingDt |
| Section4942j3 | Yes (X) | Section4942j3Ind |
Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $227,908 | CurrentYearAmt |
| Year1 | $435,245 | Year1Amt |
| Year2 | $224 | Year2Amt |
| Year3 | $1,607 | Year3Amt |
| Total | $664,984 | TotalAmt |
Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $193,722 | CurrentYearAmt |
| Year1 | $369,958 | Year1Amt |
| Year2 | $190 | Year2Amt |
| Year3 | $1,366 | Year3Amt |
| Total | $565,236 | TotalAmt |
Qualifying Distributions QualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,756,543 | CurrentYearAmt |
| Year1 | $2,294,388 | Year1Amt |
| Year2 | $6,647,335 | Year2Amt |
| Year3 | $1,183,614 | Year3Amt |
| Total | $11,881,880 | TotalAmt |
Qualifying Distri Not Used Drt QualifyingDistriNotUsedDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $394,300 | CurrentYearAmt |
| Year1 | $322,000 | Year1Amt |
| Year2 | $530,000 | Year2Amt |
| Year3 | $770,000 | Year3Amt |
| Total | $2,016,300 | TotalAmt |
Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,362,243 | CurrentYearAmt |
| Year1 | $1,972,388 | Year1Amt |
| Year2 | $6,117,335 | Year2Amt |
| Year3 | $413,614 | Year3Amt |
| Total | $9,865,580 | TotalAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $86,416,547 | CurrentYearAmt |
| Year1 | $83,544,282 | Year1Amt |
| Year2 | $83,337,617 | Year2Amt |
| Year3 | $83,778,323 | Year3Amt |
| Total | $337,076,769 | TotalAmt |
Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $62,950,000 | CurrentYearAmt |
| Year1 | $69,851,405 | Year1Amt |
| Year2 | $78,900,000 | Year2Amt |
| Year3 | $83,730,000 | Year3Amt |
| Total | $295,431,405 | TotalAmt |
Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $605,227 | CurrentYearAmt |
| Year1 | $683,919 | Year1Amt |
| Year2 | $8,031 | Year2Amt |
| Year3 | $1,071 | Year3Amt |
| Total | $1,298,248 | 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 (4 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| PHILADELPHIA FOUNDATION | ||||||
| 1835 MARKET STREET NO 2410 | PHILADELPHIA | PA | 19103 | PC | ARTWORKS - GRANT TO SUPPORT ARTS, CULTURE AND CREATIVITY IN COMMUNITY-BASED ORGANIZATIONS AND ARTISTS WORKING IN PARTNERSHIP WITH BLACK, INDIGENOUS, PEOPLE OF COLOR, OTHER MARGINALIZED, AND VULNERABLE COMMUNITIES IN THE GREATER PHILADELPHIA AREA | $255,000 |
| DREXEL UNIVERSITY | ||||||
| 1835 MARKET STREET NO 2410 | PHILADELPHIA | PA | 19103 | PC | ART WORKS DREXEL CO-OP - SUPPORT IS INTENDED TO ESTABLISH THE FORMAN ARTS INITIATIVE CO-OP PROGRAM FUND AT THE LENFEST CENTER FOR CULTURAL PARTNERSHIPS. | $75,000 |
| 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. | $60,000 |
| BLACKSTAR PROJECTS INC | ||||||
| 1901 SOUTH 9TH STREET 414 | PHILADELPHIA | PA | 19148 | PC | GENERAL SUPPORT | $4,300 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $394,300 | 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 | 18 | ExclusionCd |
| Exclusion | $176,353 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $28,013 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $3,041,815 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EXPENSE RECOVERY | Desc |
| Exclusion | 01 | ExclusionCd |
| Exclusion | $23,542 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $3,269,723 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $3,269,723 | 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 |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| ACCOUNTING SERVICES | $138,977 | $0 | $0 | $150,839 |
| TAX PREPARATION | $13,970 | $0 | $0 | $18,630 |
Investments Land Schedule2 InvestmentsLandSchedule2
Investment Land InvestmentLandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category Or Item | CAPITALIZED BUILDING COSTS (SET ASIDE) | CategoryOrItemTxt |
| Cost Or Other Basis | $14,819,746 | CostOrOtherBasisAmt |
| Accumulated Depreciation | $0 | AccumulatedDepreciationAmt |
| Book Value | $14,819,746 | BookValueAmt |
| EOYFMV | $14,819,746 | EOYFMVAmt |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $61,626 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $34,450 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ARTWORK | Desc |
| BOY Book Value | $69,850,000 | BOYBookValueAmt |
| EOY Book Value | $62,950,000 | EOYBookValueAmt |
| EOYFMV | $55,575,000 | EOYFMVAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (7 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| ART - OTHER | $46,109 | $0 | $0 | $52,764 |
| ART COLLECTIONS INSURANCE | $85,069 | $0 | $0 | $85,093 |
| OPERATING EXPENSES | $14,103 | $0 | $0 | $11,641 |
| PROGRAM - FAI STORIES | $13,900 | $0 | $0 | $48,975 |
| PROGRAMMING:ARTIST FEES:WORKSHOP FEES | $5,000 | $0 | $0 | $5,000 |
| PROGRAMMING - ADVISORY AND BOARD EXPENSES | $23,089 | $0 | $0 | $23,089 |
| PROGRAMMING - COMMUNITY ENGAGEMENT | $8,666 | $0 | $0 | $8,666 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EXPENSE RECOVERY | Desc |
| Revenue And Expenses Per Books | $23,542 | RevenueAndExpensesPerBooksAmt |
| Adjusted Net Income | $23,542 | AdjustedNetIncomeAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | UNREALIZED GAIN/LOSS ART ADJUSTMENT | Desc |
| Amt | $2,080,000 | 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 | $226,825 | BOYBookValueAmt |
| EOY Book Value | $214,963 | EOYBookValueAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| DVDL DESIGN | $173,960 | $0 | $0 | $184,300 |
| COMMUNITY RELATIONS | $66,874 | $0 | $0 | $69,240 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | EXCISE TAX | CategoryTxt |
| Amt | $100,000 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $0 | DisbursementsCharitablePrpsAmt |
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