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Nonprofiteer
← MESERVE-KUNHARDT FOUNDATION INC

Form 990 for tax year 2022

Filed by MESERVE-KUNHARDT FOUNDATION INC.

Totals

Total revenue
$6,303,534
Total expenses
$2,981,982
Contributions and grants received
$2,876,373
Grants paid
$143,500
Program service revenue
$3,050,926
Investment income
$331,962
Other revenue
$44,273
Total assets, end of year
$22,170,693
Total liabilities, end of year
$21,158
Net assets or fund balances, end of year
$22,149,535
Program services expenses (Part IX)
$2,453,404
Management and general expenses
$264,289
Fundraising expenses
$264,289
Program service expenses (Part III)
$2,453,404

Program services were 82.3% 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

    $2,107,275

  • 1f · All other contributions, gifts and grants

    $769,098

  • 2a · Program service revenue: PHOTO SALES

    total $3,002,850 · related or exempt $3,002,850

  • 2f · All other program service revenue

    total $48,076 · related or exempt $48,076

  • 3 · Investment income

    total $331,962 · excluded $331,962

  • 5 · Royalties

    total $101,186 · related or exempt $101,186

  • 6a · Gross rents

    real property $46,550

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $46,550

  • 6d · Net rental income or loss

    total $46,550 · related or exempt $46,550

  • 8a · Fundraising events: gross income

    $118,250

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

    $2,107,275

  • 8b · Fundraising events: direct expenses

    $221,713

  • 8c · Net income from fundraising events

    total -$103,463 · excluded -$103,463

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $68,500 · program services $68,500

  • 2 · Grants to domestic individuals

    total $75,000 · program services $75,000

  • 5 · Compensation of officers, directors and key employees

    total $558,500 · program services $279,250 · management and general $139,625 · fundraising $139,625

  • 7 · Other salaries and wages

    total $224,692 · program services $224,692

  • 8 · Pension plan contributions

    total $20,824 · program services $20,824

  • 9 · Other employee benefits

    total $75,669 · program services $48,041 · management and general $13,814 · fundraising $13,814

  • 10 · Payroll taxes

    total $42,582 · program services $27,036 · management and general $7,773 · fundraising $7,773

  • 11b · Fees: legal

    total $9,770 · program services $4,884 · management and general $2,443 · fundraising $2,443

  • 11c · Fees: accounting

    total $45,857 · program services $22,929 · management and general $11,464 · fundraising $11,464

  • 11g · Fees: other

    total $43,200 · program services $21,600 · management and general $10,800 · fundraising $10,800

  • 13 · Office expenses

    total $53,833 · program services $29,023 · management and general $12,405 · fundraising $12,405

  • 16 · Occupancy

    total $76,928 · program services $34,372 · management and general $21,278 · fundraising $21,278

  • 17 · Travel

    total $39,638 · program services $38,426 · management and general $606 · fundraising $606

  • 22 · Depreciation, depletion and amortization

    total $75,773 · program services $47,171 · management and general $14,301 · fundraising $14,301

  • 23 · Insurance

    total $42,127 · program services $36,089 · management and general $3,019 · fundraising $3,019

  • 24a · Other expenses: MULTIMEDIA AND EDUCATIO

    total $1,380,044 · program services $1,380,044

  • 24b · Other expenses: FUNDRAISING

    total $107,045 · program services $53,523 · management and general $26,761 · fundraising $26,761

  • 24c · Other expenses: PUBLIC RELATIONS

    total $42,000 · program services $42,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $761,051 · end of year $554,927

  • 2 · Savings and temporary cash investments

    beginning of year $121,940 · end of year $122,346

  • 7 · Other notes and loans receivable

    beginning of year $14,958 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,901 · end of year $112,000

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

    $2,942,997

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

    $345,727

  • 10c · Land, buildings and equipment, net

    beginning of year $2,627,330 · end of year $2,597,270

  • 11 · Investments: publicly traded securities

    beginning of year $15,331,807 · end of year $18,783,575

  • 15 · Other assets

    beginning of year $575 · end of year $575

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,318 · end of year $17,158

  • 25 · Other liabilities

    beginning of year $51,261 · end of year $4,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,978,497 · end of year $10,763,298

  • 28 · Net assets with donor restrictions

    beginning of year $10,849,486 · end of year $11,386,237

Mission and programs · 2022

Mission

THE FOUNDATION PERMANENTLY PRESERVES THE WORK OF GORDON PARKS, MAKES IT AVAILABLE TO THE PUBLIC THROUGH EXHIBITIONS, BOOKS AND ELECTRONIC MEDIA, AND SUPPORTS ARTISTIC AND EDUCATIONAL ACTIVITIES THAT ADVANCE WHAT PARKS DESCRIBED AS "THE COMMON SEARCH FOR A BETTER LIFE AND A BETTER WORLD ." THE FOUNDATION'S EXHIBITION SPACE PRESENTS EXHIBITIONS ON GORDON PARKS AND OTHER ARTISTS WORKING WITHIN THE THEMES OF SOCIAL JUSTICE, AS PART OF THE FOUNDATION'S COMMITMENT TO EDUCATING THE PUBLIC.

  • THE FOUNDATION COLLABORATES WITH MUSEUMS THROUGHOUT THE WORLD TO PRODUCE FOCUSED EXHIBITIONS ON PARKS' WORKS AND PUBLISHES BOOKS. IN ADDITION, THE FOUNDATION CONTINUES TO CATALOGUE AND PRESERVE THE WORK OF GORDON PARKS.

    Expenses $2,309,904 · Revenue $3,198,662

  • THE FOUNDATION PROVIDES SCHOLARSHIP GRANTS TO STUDENTS FROM PARTNER INSTITUTIONS AND FELLOWSHIP GRANTS TO PROMISING PHOTOGRAPHERS, FILMMAKERS, VISUAL ARTISTS, WRITERS AND MUSICIANS WORKING WITHIN THE THEMES OF SOCIAL JUSTICE.

    Expenses $143,500 · Grants $143,500

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

Listed in Part VII

  • Lewis J Hart III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Peter W Kunhardt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Peter W Kunhardt Jr

    EXECUTIVE DIRECTOR

    Total calculated
    $402,500
    From this org
    $402,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $402,500
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $402,500

  • Diana Revson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Alexander Soros

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Mario Sprouse

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Deborah Willis PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Jackie Glover

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • William Jelani Cobb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Laura Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Nina Freedman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Philip B Kunhardt III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Thomas A Conway

    CHIEF FINANCIAL OFFICER

    Total calculated
    $156,000
    From this org
    $156,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $156,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $156,000

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 · Compensation committee
  • 3 · Approval by the board or compensation committee

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

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

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202303149349300615

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