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Nonprofiteer
← BAM ENDOWMENT TRUST

Form 990 for tax year 2023

Filed by BAM ENDOWMENT TRUST.

Totals

Total revenue
$4,297,390
Total expenses
$13,459,572
Contributions and grants received
$430
Grants paid
$12,861,068
Program service revenue
$0
Investment income
$4,296,960
Other revenue
$0
Total assets, end of year
$89,908,086
Total liabilities, end of year
$4,644,037
Net assets or fund balances, end of year
$85,264,049
Program services expenses (Part IX)
$12,861,068
Management and general expenses
$473,504
Fundraising expenses
$125,000
Program service expenses (Part III)
$12,861,068

Program services were 95.6% 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

    $430

  • 3 · Investment income

    total $1,623,888 · excluded $1,623,888

  • 7a · Gross sales of assets other than inventory

    securities $29,439,472

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

    securities $26,766,400

  • 7c · Gain or loss

    securities $2,673,072

  • 7d · Net gain or loss

    total $2,673,072 · excluded $2,673,072

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,861,068 · program services $12,861,068

  • 11a · Fees: management

    total $250,000 · management and general $125,000 · fundraising $125,000

  • 11c · Fees: accounting

    total $30,050 · management and general $30,050

  • 11f · Fees: investment management

    total $302,811 · management and general $302,811

  • 13 · Office expenses

    total $8,214 · management and general $8,214

  • 23 · Insurance

    total $7,429 · management and general $7,429

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,135,440 · end of year $1,082,937

  • 3 · Pledges and grants receivable

    beginning of year $1,196,961 · end of year $1,249,210

  • 11 · Investments: publicly traded securities

    beginning of year $70,303,389 · end of year $65,730,516

  • 12 · Investments: other securities

    beginning of year $17,321,723 · end of year $19,940,423

  • 15 · Other assets

    beginning of year $1,925,767 · end of year $1,905,000

  • 25 · Other liabilities

    beginning of year $10,665 · end of year $4,644,037

  • 27 · Net assets without donor restrictions

    beginning of year $3,436,273 · end of year $3,451,849

  • 28 · Net assets with donor restrictions

    beginning of year $88,436,342 · end of year $81,812,200

Mission and programs · 2023

Mission

THE BAM ENDOWMENT TRUST OPERATES EXCLUSIVELY FOR THE BENEFIT OF THE BROOKLYN ACADEMY OF MUSIC, INC.

  • THE DISTRIBUTION TO BROOKLYN ACADEMY OF MUSIC (BAM) ENABLES THIS 150-YEAR-OLD MULTI-ARTS ORGANIZATION TO CONTINUE TO BE THE HOME FOR CURIOUS PEOPLE AND ADVENTUROUS IDEAS. BAM SUPPORTS ARTISTIC EXPERIMENTATION AND CHAMPIONS INCLUSION AND ACCESSIBILITY THROUGHOUT THE ARTS AS PRESENTER, ACTIVATOR, AND CONNECTOR. THE DISTRIBUTION PROVIDES CRUCIAL SUPPORT, WHICH MAKES POSSIBLE ALL OF BAM'S WORLD-RENOWNED PROGRAMMING IN THEATER, DANCE, MUSIC, OPERA, FILM AND MUCH MORE. IT ENABLES BAM TO SHOWCASE THE WORK OF EMERGING ARTISTS AND INNOVATIVE MODERN ARTISTS.

    Expenses $12,861,068 · Grants $12,861,068

As filed on the 2023 return.

Listed in Part VII

  • ALAN H FISHMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ALBERTO SANCHEZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ELIZABETH HOLTZMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • GABRIEL PIZZI

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • JAMES MCLAREN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • MARCEL PRZYMUSINSKI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • R EDWARD SPILKA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • SCOTT MCDONALD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 5 related

  • STEVEN G FELSHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • TIMOTHY SEBUNYA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 5 related

  • JENNIFER ANGLADE

    TREASURER

    Total calculated
    $372,523
    From this org
    $0
    From related orgs
    $318,743
    Other
    $53,780
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $318,401 related
    Bonus
    $0
    Other
    $0 + $342 related
    Deferred
    $0 + $35,380 related
    Nontaxable benefits
    $0 + $18,400 related
    Filer's total
    $0 + $372,523 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, PART VII:
JENNIFER ANGLADE'S COMPENSATION WAS PAID BY BROOKLYN ACADEMY OF MUSIC, INC., A RELATED PARTY TO THE ORGANIZATION. JENNIFER WORKED 40 HOURS A WEEK AS CFO & VP OF FINANCE FOR BROOKLYN ACADEMY OF MUSIC, AND 5 HOURS A WEEK AS TREASURER FOR BAM ENDOWMENT TRUST.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202531219349300928

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