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Nonprofiteer
← INTERNATIONAL FOLK ART FOUNDATION

Form 990 for tax year 2023

Filed by INTERNATIONAL FOLK ART FOUNDATION.

Totals

Total revenue
$1,189,756
Total expenses
$1,000,738
Contributions and grants received
$650
Grants paid
$37,123
Program service revenue
$0
Investment income
$1,188,535
Other revenue
$571
Total assets, end of year
$36,666,070
Total liabilities, end of year
$49,168
Net assets or fund balances, end of year
$36,616,902
Program services expenses (Part IX)
$911,644
Management and general expenses
$89,094
Fundraising expenses
$0
Program service expenses (Part III)
$911,644

Program services were 91.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $650

  • 3 · Investment income

    total $712,078 · excluded $712,078

  • 5 · Royalties

    total $571 · excluded $571

  • 7a · Gross sales of assets other than inventory

    securities $476,457

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $476,457

  • 7d · Net gain or loss

    total $476,457 · excluded $476,457

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $37,123 · program services $37,123

  • 7 · Other salaries and wages

    total $94,312 · program services $84,882 · management and general $9,430

  • 11c · Fees: accounting

    total $46,395 · management and general $46,395

  • 11f · Fees: investment management

    total $24,291 · management and general $24,291

  • 13 · Office expenses

    total $4,654 · program services $4,188 · management and general $466

  • 16 · Occupancy

    total $13,876 · program services $12,489 · management and general $1,387

  • 23 · Insurance

    total $5,686 · management and general $5,686

  • 24a · Other expenses: SUPPORT FOR MUSEUM OF I

    total $760,762 · program services $760,762

  • 24b · Other expenses: PUBLICATIONS AND LICENS

    total $12,200 · program services $12,200

  • 24c · Other expenses: MISCELLANEOUS

    total $1,439 · management and general $1,439

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $195,790 · end of year $272,686

  • 4 · Accounts receivable

    beginning of year $40,000 · end of year $602

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,708 · end of year $1,210

  • 10a · Land, buildings and equipment: cost or other basis

    $1,401

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,401

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $6,286,354 · end of year $7,101,776

  • 15 · Other assets

    beginning of year $27,092,334 · end of year $29,289,796

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,225 · end of year $30,016

  • 25 · Other liabilities

    beginning of year $308 · end of year $19,152

  • 27 · Net assets without donor restrictions

    beginning of year $4,605,514 · end of year $5,645,159

  • 28 · Net assets with donor restrictions

    beginning of year $28,973,139 · end of year $30,971,743

Mission and programs · 2023

Mission

TO PROVIDE FINANCIAL ASSISTANCE TO THE MUSEUM OF INTERNATIONAL FOLK ART AND FURTHER THE UNDERSTANDING OF FOLK ART AS IT RELATES TO THE PEOPLE OF THE WORLD.

Activities or mission (Part I)

TO BROADEN THE STUDY OF FOLK ART IN ORDER TO PROMOTE A BETTER UNDERSTANDING OF ALL CULTURES.

  • THE INTERNATIONAL FOLK ART FOUNDATION (IFAF) GAVE SUPPORT TO PRODUCE EXHIBITIONS AT THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA), INCLUDING PUBLICATIONS. THERE WERE APPROXIMATELY 90,000 VISITORS DURING THE FISCAL YEAR.

    Expenses $513,650

  • COLLECTIONS CONSERVATION, MAINTENANCE, PROCESSING AND RECORD KEEPING - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) COLLECTION, INCLUDING OBJECTS OWNED BY THE INTERNATIONAL FOLK ART FOUNDATION (IFAF), IS THE LARGEST FOLK ART COLLECTION IN THE WORLD. CARING FOR THESE OBJECTS INCLUDES REGULAR PEST MONITORING, KEEPING DETAILED RECORDS FOR LOANS, EXHIBITIONS, AND NEW ACQUISITIONS, AND RECENTLY CONVERTING ALL RECORDS TO DIGITAL FORMS AVAILABLE ON THE MOIFA WEBSITE. THERE WERE APPROXIMATELY 60,000 VISITORS TO THE WEBSITE AND SOCIAL MEDIA.

    Expenses $223,034 · Grants $37,123

  • LIBRARY AND ARCHIVES SUPPORT - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) HAS THE LARGEST INTERNATIONAL FOLK ART LIBRARY IN THE WORLD AND THE ARCHIVES ARE GROWING WITH PLANS TO FURTHER PRESERVE VIDEOS AND FIELD PHOTOGRAPHS. THE LIBRARY SERVES ALL MOIFA STAFF, DOCENTS, VISITORS, AND SCHOLARS. APPROXIMATELY 25,000 VISITORS ACCESSED LIBRARY RESOURCES ONLINE OR VISITED IN PERSON.

    Expenses $105,871

  • EDUCATION AND OUTREACH TO SCHOOL GROUPS, DOCENT TOURS AND OTHER TOURS IN PERSON, ONLINE AND THROUGH SOCIAL MEDIA. THERE WERE APPROXIMATELY 30,000 VISITORS TO THE WEBSITE AND 90,000 VISITORS IN PERSON, INCLUDING SCHOOL GROUPS. THE FOUNDATION COLLECTION, CONSISTING OF FOLK ART PIECES, IS HOUSED AT THE MUSEUM OF INTERNATIONAL FOLK ART, WHICH PUTS THE COLLECTON ON PUBLIC EXHIBITION, FURTHERING THE UDNERSTANDING OF FOLK ART. PIECES WHICH ARE NOT CURRENTLY ON DISPLAY ARE AVAILABLE TO RESEARCHERS AND SCHOLARS.

    Expenses $69,089

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Julia Catron

    PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • David Davenport

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Rosalind Doherty

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • David Matthews

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Randall Bell

    MEMBER

    Total calculated
    $0
    Hours/week
    4

  • John Draper

    MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Edelma Huntley

    MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Lisa Mayer

    MEMBER(UNILL AUGUST 2023)

    Total calculated
    $0
    Hours/week
    4

  • Roberta Syme

    MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Laurel Seth

    EXECUTIVE DIRECTOR

    Total calculated
    $83,750
    From this org
    $83,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349318562

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