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Nonprofiteer
← MODERN AND COMTEMPORARY ART SUPPORT CORP

Form 990 for tax year 2022

Filed by MODERN AND COMTEMPORARY ART SUPPORT CORP.

Totals

Total revenue
$187,869
Total expenses
$190,428
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$187,869
Total assets, end of year
$1,049,204
Total liabilities, end of year
$655,178
Net assets or fund balances, end of year
$394,026
Program services expenses (Part IX)
$190,428
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$190,428

Program services were 100.0% 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.

  • 6a · Gross rents

    real property $557,258

  • 6b · Less rental expenses

    real property $369,389

  • 6c · Rental income or loss

    real property $187,869

  • 6d · Net rental income or loss

    total $187,869 · related or exempt $187,869

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $190,428 · program services $190,428

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

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

    $4,769,955

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

    $3,720,751

  • 10c · Land, buildings and equipment, net

    beginning of year $1,239,631 · end of year $1,049,204

  • 25 · Other liabilities

    beginning of year $843,046 · end of year $655,178

  • 27 · Net assets without donor restrictions

    beginning of year $396,585 · end of year $394,026

Mission and programs · 2022

Mission

The Modern and Contemporary Art Support Corp was formed by the Museum of Modern Art for the purpose of receiving, acquiring and holding title to or interests in land and buildings contiguous to or (Continued in Schedule O) in close proximity to the Museum, arranging for carrying out construction, reconstruction and renovation of buildings for use by the Museum in achieving its tax-exempt purpose.

Activities or mission (Part I)

The Modern and Contemporary Art Support Corp was formed by the Museum of (Continued in Schedule O) Modern Art for the purpose of receiving, acquiring and holding title to or interests in land and buildings contiguous to or in close proximity to the Museum, arranging for carrying out construction, reconstruction and renovation of buildings for use by the Museum in achieving its tax-exempt purpose.

  • The Modern and Contemporary Art Support Corp was formed by the Museum of Modern Art for the purpose of receiving, acquiring and holding title to or interests in land and buildings contiguous to or in close proximity to the Museum, arranging for carrying out construction, reconstruction and renovation of buildings for use by the Museum in achieving its tax-exempt purpose.

    Expenses $190,428 · Revenue $187,869

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

Listed in Part VII

  • Agnes Gund

    President/Director

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Ronald S Lauder

    Treasurer/Director

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • James Grooms

    Secretary

    Total calculated
    $632,704
    From this org
    $0
    From related orgs
    $589,663
    Other
    $43,041
    Hours/week
    0.5 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $549,107 related
    Bonus
    $0 + $19,250 related
    Other
    $0 + $21,306 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $24,741 related
    Filer's total
    $0 + $632,704 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

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
202411359349310186

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