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Nonprofiteer
← PS1 CONTEMPORARY ART CENTER INC

Form 990 for tax year 2022

Filed by PS1 CONTEMPORARY ART CENTER INC.

Totals

Total revenue
$11,892,006
Total expenses
$10,620,996
Contributions and grants received
$11,025,998
Grants paid
$0
Program service revenue
$696,400
Investment income
$11,998
Other revenue
$157,610
Total assets, end of year
$8,601,090
Total liabilities, end of year
$1,019,911
Net assets or fund balances, end of year
$7,581,179
Program services expenses (Part IX)
$7,643,438
Management and general expenses
$1,728,372
Fundraising expenses
$1,249,186
Program service expenses (Part III)
$7,643,438

Program services were 72.0% 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.

  • 1c · Fundraising events

    $1,278,986

  • 1e · Government grants (contributions)

    $1,096,089

  • 1f · All other contributions, gifts and grants

    $8,650,923

  • 1g · Noncash contributions included above

    $561,091

  • 2a · Program service revenue: SALES

    total $293,912 · related or exempt $293,912

  • 2b · Program service revenue: ADMISSIONS

    total $176,025 · related or exempt $176,025

  • 2c · Program service revenue: RENTAL INCOME

    total $126,141 · related or exempt $126,141

  • 2d · Program service revenue: EXHIBITION TOURING

    total $100,322 · related or exempt $100,322

  • 3 · Investment income

    total $11,998 · excluded $11,998

  • 8a · Fundraising events: gross income

    $316,789

  • 8a · Fundraising events: contributions included on line 1c

    $1,278,986

  • 8b · Fundraising events: direct expenses

    $316,789

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: MISCELLANEOUS

    total $115,351 · excluded $115,351

  • 11b · Other revenue: INSURANCE REIMBURSEMENT

    total $42,259 · excluded $42,259

  • 11e · Other revenue, total

    $157,610

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $491,692 · program services $337,406 · management and general $105,945 · fundraising $48,341

  • 7 · Other salaries and wages

    total $3,807,315 · program services $2,161,036 · management and general $909,883 · fundraising $736,396

  • 8 · Pension plan contributions

    total $215,811 · program services $125,356 · management and general $51,008 · fundraising $39,447

  • 9 · Other employee benefits

    total $576,169 · program services $333,358 · management and general $136,441 · fundraising $106,370

  • 10 · Payroll taxes

    total $493,530 · program services $286,672 · management and general $116,648 · fundraising $90,210

  • 11b · Fees: legal

    total $26,911 · program services $24,326 · management and general $2,322 · fundraising $263

  • 11c · Fees: accounting

    total $6,961 · program services $6,292 · management and general $601 · fundraising $68

  • 12 · Advertising and promotion

    total $46,622 · program services $45,739 · management and general $63 · fundraising $820

  • 13 · Office expenses

    total $152,832 · program services $138,153 · management and general $13,188 · fundraising $1,491

  • 16 · Occupancy

    total $1,993,808 · program services $1,796,258 · management and general $183,518 · fundraising $14,032

  • 17 · Travel

    total $150,112 · program services $132,593 · management and general $1,630 · fundraising $15,889

  • 20 · Interest

    total $2,437 · program services $2,196 · management and general $224 · fundraising $17

  • 22 · Depreciation, depletion and amortization

    total $215,442 · program services $194,094 · management and general $19,832 · fundraising $1,516

  • 23 · Insurance

    total $67,303 · program services $60,634 · management and general $6,195 · fundraising $474

  • 24a · Other expenses: EXHIBITION COSTS

    total $1,702,500 · program services $1,702,500

  • 24b · Other expenses: PRODUCTION AND EVENT CO

    total $464,285 · program services $203,930 · management and general $119,348 · fundraising $141,007

  • 24c · Other expenses: OTHER

    total $153,083 · program services $71,149 · management and general $33,808 · fundraising $48,126

  • 24d · Other expenses: MEMBERSHIP DUES & SUBSC

    total $54,183 · program services $21,746 · management and general $27,718 · fundraising $4,719

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,563,510 · end of year $2,231,257

  • 2 · Savings and temporary cash investments

    beginning of year $2,993,638 · end of year $1,846,674

  • 3 · Pledges and grants receivable

    beginning of year $1,155,376 · end of year $2,492,250

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,081,572 · end of year $414,778

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

    $5,398,201

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

    $4,016,099

  • 10c · Land, buildings and equipment, net

    beginning of year $942,539 · end of year $1,382,102

  • 12 · Investments: other securities

    beginning of year $226,013 · end of year $234,029

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,451,526 · end of year $807,998

  • 23 · Secured mortgages and notes payable

    end of year $51,512

  • 25 · Other liabilities

    beginning of year $196,971 · end of year $160,401

  • 27 · Net assets without donor restrictions

    beginning of year $1,244,999 · end of year $2,187,861

  • 28 · Net assets with donor restrictions

    beginning of year $5,069,152 · end of year $5,393,318

Mission and programs · 2022

Mission

MOMA PS1 IS A CONTEMPORARY ART INSTITUTE IN LONG ISLAND CITY, NEW YORK. AN EXHIBITION SPACE RATHER THAN A COLLECTING INSTITUTION, MOMA PS1 DEVOTES ITS ENERGY AND RESOURCES TO DISPLAYING THE MOST EXPERIMENTAL ART IN THE WORLD ACROSS ALL ARTISTIC DISCIPLINES. A CATALYST AND AN ADVOCATE FOR NEW IDEAS, DISCOURSES, AND TRENDS IN CONTEMPORARY ART, MOMA PS1 ACTIVELY PURSUES EMERGING ARTISTS, NEW GENRES, AND ADVENTUROUS NEW WORK BY RECOGNIZED ARTISTS IN AN EFFORT TO SUPPORT INNOVATION IN CONTEMPORARY ART. MOMA PS1 ACHIEVES THIS MISSION BY PRESENTING ITS DIVERSE PROGRAM TO A BROAD AUDIENCE IN A UNIQUE ENVIRONMENT IN WHICH VISITORS CAN DISCOVER AND EXPLORE THE WORK OF CONTEMPORARY ARTISTS.

Activities or mission (Part I)

TO ORGANIZE AND PRESENT CONTEMPORARY ART EXHIBITIONS AND PROGRAMS ACROSS ALL ARTISTIC DISCIPLINES.

  • EXHIBITIONSMOMA PS1 PRESENTS THE WORK OF EMERGING ARTISTS, ESTABLISHED ARTISTS WORKING IN NEW GENRES, AND OVERALL, PRESENTING TO THE PUBLIC WORKS OF CONTEMPORARY ART THAT ARE ENGAGING, CHALLENGING, AND GROUND-BREAKING ARTWORK IN A UNIQUE, ACCESSIBLE VENUE.

    Expenses $6,000,950

  • LIVE PROGRAMSSINCE ITS FOUNDING IN 1976, MOMA PS1 HAS OFFERED AUDIENCES ONE OF THE MOST EXTENSIVE PROGRAMS OF LIVE PERFORMANCE IN THE WORLD. MOMA PS1'S PIONEERING OUTDOOR MUSIC SERIES WARM UP IS ONE OF THE LONGEST RUNNING MUSIC PROGRAMS HOUSED WITHIN A MUSEUM. AS AN INTEGRAL PART OF MOMA PS1'S CURATORIAL PROGRAM FOR MORE THAN 20 YEARS, WARM UP SEEKS TO ELEVATE INNOVATIVE AND UNDERREPRESENTED VOICES: EMERGING AND ESTABLISHED, LOCAL AND GLOBAL, AND ACROSS GENRES.

    Expenses $1,194,076 · Revenue $276,347

  • EVENTS & RETAILMINA'S IS AN ALL-DAY CAFE FROM CHEF MINA STONE. INFORMED BY LESSONS FROM HER GREEK GRANDMOTHER, STONE'S DECEPTIVELY SIMPLE, MEDITERRANEAN-INSPIRED CUISINE IS AN HOMAGE TO THE SLOW-COOKED, HOMESTYLE DISHES TYPICALLY FOUND ON FAMILY DINNER TABLES THROUGHOUT GREECE.

    Expenses $448,412 · Revenue $420,053

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SARAH ARISON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • PHILIP E AARONS

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • SIMON MORDANT

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JAMES GROOMS

    SECRETARY

    Total calculated
    $589,663
    From this org
    $0
    From related orgs
    $589,663
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $589,663 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $43,046 related
    Filer's total
    $0 + $632,709 related

  • JOHN L THOMSON

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ELYSE BENENSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOSHUA BLACK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ADRIAN CHENG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANA FAROUKI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WENDY FISHER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NICOLE FLEETWOOD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AGNES GUND

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • EDGAR HEAP OF BIRDS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HANNAH JOCELYN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ADAM KIMMEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SUYDAM LANSING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANIEL NADLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PETER NORTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DIANA WIDMAIER PICASSO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LISA ROUMELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TARYN SIMON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT SOROS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LISE STOLT-NIELSEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BETH SWOFFORD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ARA TUCKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KATHRYN FOWLE

    DIRECTOR

    Total calculated
    $444,259
    From this org
    $413,922
    From related orgs
    $0
    Other
    $30,337
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,949
    Bonus
    $0
    Other
    $212,973
    Deferred
    $0
    Nontaxable benefits
    $30,337
    Filer's total
    $444,259

  • JOSE A ORTIZ

    DEPUTY DIRECTOR

    Total calculated
    $226,376
    From this org
    $215,701
    From related orgs
    $0
    Other
    $10,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,201
    Bonus
    $17,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,675
    Filer's total
    $226,376

  • MOLLY KURZIUS

    DIRECTOR OF EXTERNAL AFFAIRS

    Total calculated
    $204,562
    From this org
    $155,047
    From related orgs
    $0
    Other
    $49,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,547
    Bonus
    $17,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $49,515
    Filer's total
    $204,562

  • RUBA KATRIB

    DIRECTOR OF CURATORIAL

    Total calculated
    $168,200
    From this org
    $144,973
    From related orgs
    $0
    Other
    $23,227
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,473
    Bonus
    $17,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,227
    Filer's total
    $168,200

  • RICHARD WILSON

    EXHIBITION DESIGNER

    Total calculated
    $129,212
    From this org
    $106,387
    From related orgs
    $0
    Other
    $22,825
    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. 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

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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)

PART I, LINE 4A
KATHRYN FOWLE RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $200,000 WHICH IS REFLECTED AS PART OF OTHER REPORTABLE COMPENSATION ON SCHEDULE J, PART II.

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

No itemized grants to organizations 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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441369349312759

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