Totals
- Total revenue
- $2,387,256
- Total expenses
- $1,010,243
- Contributions and grants received
- $0
- Grants paid
- $876,400
- Program service revenue
- $0
- Investment income
- $2,387,256
- Other revenue
- $0
- Total assets, end of year
- $28,485,479
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $28,485,479
- Program services expenses (Part IX)
- $876,400
- Management and general expenses
- $133,843
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $876,400
Program services were 86.8% 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.
-
3 · Investment income
total $763,863 · excluded $763,863
-
7a · Gross sales of assets other than inventory
securities $12,670,956
-
7b · Less cost or other basis and sales expenses
securities $11,047,563
-
7c · Gain or loss
securities $1,623,393
-
7d · Net gain or loss
total $1,623,393 · excluded $1,623,393
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $876,400 · program services $876,400
-
11f · Fees: investment management
total $133,843 · management and general $133,843
Balance sheet
Part X, book values.
-
11 · Investments: publicly traded securities
beginning of year $26,360,953 · end of year $28,485,479
-
27 · Net assets without donor restrictions
beginning of year $11,784,133 · end of year $12,901,794
-
28 · Net assets with donor restrictions
beginning of year $14,576,820 · end of year $15,583,685
Mission and programs · 2022
Mission
THE ARTSFUND FOUNDATION WAS CREATED TO SUPPORT THE ACTIVITIES OF AND FOR THE BENEFIT OF ARTSFUND, AN ORGANIZATION DESCRIBED IN CODE SECTION 501(C)(3).
Activities or mission (Part I)
TO SUPPORT THE ACTIVITIES OF AND FOR THE BENEFIT OF ARTSFUND.
-
ARTSFUND FOUNDATION PROVIDES MANAGEMENT OF ENDOWMENT FUNDS FOR ARTSFUND, A SEPARATE IRC SECTION 501(C)(3) ORGANIZATION. ARTSFUND PROVIDES OPERATING GRANTS TO IRC SECTION 501(C)(3) NONPROFIT ARTS ORGANIZATIONS. ARTSFUND FOUNDATION PAID $876,400 TO ARTSFUND DURING FISCAL YEAR ENDING SEPTEMBER 30, 2023.
Expenses $876,400 · Grants $876,400
As filed on the 2022 return.
Listed in Part VII
-
SANDY MCDADE
CHAIR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
JUDI BECK
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.3
-
JAMES R DUNCAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.3
-
RODNEY K FUJITA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3
-
STEPHEN REYNOLDS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 0.3 related
-
MARY PIGOTT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 0.3 related
-
STANLEY D SAVAGE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3
-
MICHAEL GREER
PRESIDENT
- Total calculated
- $315,173
- From this org
- $0
- From related orgs
- $282,871
- Other
- $32,302
- Hours/week
- 0.5 + 55 related
Schedule J breakdown matched by us
- Base
- $0 + $240,211 related
- Bonus
- $0 + $42,660 related
- Other
- $0
- Deferred
- $0 + $9,571 related
- Nontaxable benefits
- $0 + $22,731 related
- Filer's total
- $0 + $315,173 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)
- PART I, LINE 3
- THE ARTSFUND USES THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION THAT IT PAYS TO MICHAEL GREER: THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE AND FINANCE COMMITTEE REVIEWS THE PERFORMANCE TO DETERMINE THE PRESIDENT/CEO TOTAL COMPENSATION PACKAGE. THE BOARD VOTES ON THE RECOMMENDED COMPENSATION PACKAGE AND APPROVES MEASURABLE GOALS AND OBJECTIVES FOR THE PRESIDENT/CEO. THIS PROCESS WAS LAST COMPLETED OCTOBER 2022.
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
-
$874,600
TRANSFER OF ENDOWMENT FUNDS TO ARTSFUND FOR GRANTS TO NONPROFIT ART ORGANIZATIONS
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.
-
501(C)(3) · PROVIDE GRANTS TO ARTS GROUPS / ORGANIZATIONS USING ENDOWMENT FUNDS · WA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 August 2024
- IRS schema version
- 2022v5.0
- Source object
- 202422259349302752
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