FLAG ART FOUNDATION: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- FLAG ART FOUNDATION (EIN 26-0273135)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202533219349103998
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- Depreciation Schedule
- General Explanation Attachment
- Investments Other Schedule2
- Land Etc Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Liabilities Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-17T13:00:44-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 TIMES SQUARE | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10036 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 260273135 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FLAG ART FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FLAG | BusinessNameControlTxt |
| Phone | 2125186682 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | CO GLENN FUHRMAN 545 W 25TH ST 9FL | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100015501 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GLENN FUHRMAN | PersonNm |
| Person Title | PRESIDENT/TREASURER | PersonTitleTxt |
| Phone | 2125186682 | PhoneNum |
| Signature | 2025-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LYNNE JOHNSON | PreparerPersonNm |
| PTIN | P00757336 | PTIN |
| Phone | 2123721000 | PhoneNum |
| Preparation | 2025-11-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $29,584,119 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $19,501 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $19,501 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $19,501 | InterestOnSavingsAdjNetIncmAmt |
| Dividends Rev And Expnss | $475,551 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $475,551 | DividendsNetInvstIncmAmt |
| Dividends Adj Net Incm | $475,551 | DividendsAdjNetIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $1,860,062 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $3,074,515 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $1,859,976 | CapGainNetIncmNetInvstIncmAmt |
| Net ST Capital Gain Adj Net Incm | $1,082 | NetSTCapitalGainAdjNetIncmAmt |
| Other Income Rev And Expnss | $28,950 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | -$138,781 | OtherIncomeNetInvstIncmAmt |
| Other Income Adj Net Incm | $28,950 | OtherIncomeAdjNetIncmAmt |
| Total Rev And Expnss | $2,384,064 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $2,216,247 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $525,084 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $0 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Adj Net Incm | $0 | CompOfcrDirTrstAdjNetIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $0 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $437,056 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Net Invst Incm | $0 | OthEmplSlrsWgsNetInvstIncmAmt |
| Oth Empl Slrs Wgs Adj Net Incm | $0 | OthEmplSlrsWgsAdjNetIncmAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $437,056 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $50,041 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Net Invst Incm | $0 | PensionEmplBnftNetInvstIncmAmt |
| Pension Empl Bnft Adj Net Incm | $0 | PensionEmplBnftAdjNetIncmAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $50,041 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $35,000 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $0 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $35,000 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $51,798 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $0 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $40,557 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $162,129 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $154,354 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Adj Net Incm | $0 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $7,775 | OtherProfFeesDsbrsChrtblAmt |
| Interest Rev And Expnss | $88 | InterestRevAndExpnssAmt |
| Interest Net Invst Incm | $0 | InterestNetInvstIncmAmt |
| Interest Adj Net Incm | $0 | InterestAdjNetIncmAmt |
| Interest Dsbrs Chrtbl | $88 | InterestDsbrsChrtblAmt |
| Taxes Rev And Expnss | $99,114 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $0 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $0 | TaxesAdjNetIncmAmt |
| Taxes Dsbrs Chrtbl | $99,114 | TaxesDsbrsChrtblAmt |
| Deprec And Dpltn Rev And Expnss | $10,352 | DeprecAndDpltnRevAndExpnssAmt |
| Deprec And Dpltn Net Invst Incm | $0 | DeprecAndDpltnNetInvstIncmAmt |
| Deprec And Dpltn Adj Net Incm | $10,352 | DeprecAndDpltnAdjNetIncmAmt |
| Occupancy Rev And Expnss | $189,273 | OccupancyRevAndExpnssAmt |
| Occupancy Net Invst Incm | $0 | OccupancyNetInvstIncmAmt |
| Occupancy Adj Net Incm | $0 | OccupancyAdjNetIncmAmt |
| Occupancy Dsbrs Chrtbl | $189,273 | OccupancyDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $127,176 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Net Invst Incm | $0 | TravConfMeetingNetInvstIncmAmt |
| Trav Conf Meeting Adj Net Incm | $0 | TravConfMeetingAdjNetIncmAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $127,176 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $865,387 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $506 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $0 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $864,521 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $2,027,414 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $154,860 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $10,352 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $1,850,601 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $208,027 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $208,027 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $2,235,441 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $154,860 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $10,352 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $2,058,628 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $148,623 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $2,061,387 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $514,732 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $2,785 | CashBOYAmt |
| Cash EOY | $3,252 | CashEOYAmt |
| Cash EOYFMV | $3,252 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $15,119,384 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $10,750,530 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $10,750,530 | SavAndTempCashInvstEOYFMVAmt |
| Other Investments BOY | $8,155,722 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $13,071,151 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $18,040,411 | OtherInvestmentsEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $243,175 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $37,163 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $200,870 | LandBOYAmt |
| Land EOY | $206,012 | LandEOYAmt |
| Land EOYFMV | $206,012 | LandEOYFMVAmt |
| Other Assets BOY | $1,150,242 | OtherAssetsBOYAmt |
| Other Assets EOY | $583,914 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $583,914 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $24,629,003 | TotalAssetsBOYAmt |
| Total Assets EOY | $24,614,859 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $29,584,119 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $11,677 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $18,738 | AccountsPayableEOYAmt |
| Other Liabilities BOY | $291,787 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $121,959 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $303,464 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $140,697 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $430,940 | CapitalStockBOYAmt |
| Capital Stock EOY | $430,940 | CapitalStockEOYAmt |
| Additional Paid In Capital BOY | $0 | AdditionalPaidInCapitalBOYAmt |
| Additional Paid In Capital EOY | $0 | AdditionalPaidInCapitalEOYAmt |
| Retained Earning BOY | $23,894,599 | RetainedEarningBOYAmt |
| Retained Earning EOY | $24,043,222 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $24,325,539 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $24,474,162 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $24,629,003 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $24,614,859 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $24,325,539 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $148,623 | ExcessRevenueOverExpensesAmt |
| Other Increases | $0 | OtherIncreasesAmt |
| Subtotal | $24,474,162 | SubtotalAmt |
| Other Decreases | $0 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $24,474,162 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (7 entries)
| PropertyPropertyDesc | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt |
|---|---|---|---|---|---|---|---|
| PUBLICLY TRADED SECURITIES | $2,488,515 | $654,563 | $1,833,952 | $1,833,952 | |||
| SALE OF ARTWORK | $586,000 | $570,242 | $15,758 | $15,758 | P | 2022-11-11 | 2024-01-11 |
| MSD PRIVATE CREDIT OPPORTUNITY FUND LP (STCG) | $1,082 | $1,082 | P | 2024-12-31 | 2024-12-31 | ||
| MSD PRIVATE CREDIT OPPORTUNITY FUND LP (LTCG) | $9,506 | $9,506 | P | 2024-12-31 | 2024-12-31 | ||
| MSD RING PARTNERS LP (SEC 1231) | -$89 | -$89 | P | 2024-12-31 | 2024-12-31 | ||
| UBTI FROM MSD PRIVATE CREDIT OPPORTUNITY FUND LP (LTCG) | -$322 | -$322 | P | 2024-12-31 | 2024-12-31 | ||
| UBTI FROM MSD RING PARTNERS LP (SEC 1231) | $89 | $89 | P | 2024-12-31 | 2024-12-31 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $1,859,976 | CapitalGainNetIncomeAmt |
| Net Short Term Capital Gain Loss | $1,082 | NetShortTermCapitalGainLossAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $28,653 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $28,653 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $28,653 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $40,655 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $5,000 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $45,655 | TotalPaymentsAndCreditsAmt |
| Form2220 Attached | Yes (X) | Form2220AttachedInd |
| Es Penalty | $0 | EsPenaltyAmt |
| Overpayment | $17,002 | OverpaymentAmt |
| Applied To ES Tax | $17,002 | AppliedToESTaxAmt |
| Refund | $0 | RefundAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | 0 | LegislativePoliticalActyInd |
| More Than100 Spent | 0 | MoreThan100SpentInd |
| Form1120 POL Filed | 0 | Form1120POLFiledInd |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
| Activities Not Previously Rpt | 0 | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | 0 | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Organization Dissolved Etc | 0 | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (1) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | NY | OrgReportOrRegisterStateCd |
| Org Report Or Register State | DE | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | Yes (1) | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | 0 | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (1) | ComplyWithPublicInspRqrInd |
| Website Address | WWW.FLAGARTFOUNDATION.ORG | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2125186682 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | C/O GLENN FUHRMAN 545 W 25TH ST 9FL | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100015501 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | 0 | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | Yes (1) | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | 0 | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | Yes (1) | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (1) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | 0 | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | 0 | UncorrectedPriorActsInd |
| Undistributed Income PY | 0 | UndistributedIncomePYInd |
| Business Holdings | 0 | BusinessHoldingsInd |
| Jeopardy Investments | 0 | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | 0 | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | 0 | InfluenceLegislationInd |
| Influence Election | 0 | InfluenceElectionInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| GLENN FUHRMAN | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | PRESIDENT/TREASURER | 5.00 | $0 | $0 | $0 |
| AMANDA FUHRMAN | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | VICE PRESIDENT | 5.00 | $0 | $0 | $0 |
| RISA DANIELS | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | SECRETARY | 1.00 | $0 | $0 | $0 |
| LAURA TWERSKY | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | DIRECTOR | 1.00 | $0 | $0 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee BenefitsEmployeeBenefitsAmt | Expense AccountExpenseAccountAmt |
|---|---|---|---|---|---|---|---|---|
| JONATHAN RIDER | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | DIRECTOR | 40.00 | $230,000 | $17,362 | $0 |
| CAROLINE CASSIDY | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | DIRECTOR OF EXHIBITI | 40.00 | $125,000 | $17,362 | $0 |
| MADELINE DEFILIPPIS | ||||||||
| C/O GLENN FUHRMAN 545 W 25TH ST 9FL | NEW YORK | NY | 100015501 | GALLERY MANAGER AND | 40.00 | $68,000 | $16,291 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| VIRTRU INVESTMENT PARTNERS INC | |||||
| 640 PARK AVE 11TH FL | NEW YORK | NY | 10065 | INVESTMENT MANAGEMENT FEES | $154,354 |
| RSM US LLP | |||||
| 4 TIMES SQUARE | NEW YORK | NY | 10036 | ACCOUNTING FEES | $51,798 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | CONTEMPORARY ART EXHIBITIONS THAT ARE FREE AND OPEN TO THE PUBLIC, INCLUDING PUBLICATIONS PRODUCTION ALONGSIDE THE EXHIBITIONS. THE FOUNDATION ALSO MAINTAINS A WEBSITE TO SHOWCASE ART HELD AT THE GALLERY AND TO NOTIFY THE PUBLIC OF UPCOMING EVENTS. | Description1Txt |
| Expenses1 | $1,569,481 | Expenses1Amt |
| Description2 | ART EXHIBITION WITH THE CONTEMPORARY AUSTIN (TCA) OF PRIZE FUNDS FOR LUBAINA HIMID: MAKE DO AND MEND | Description2Txt |
| Expenses2 | $75,469 | Expenses2Amt |
| Description3 | 31 PIECES OF ART LOANED TO 11 GALLERIES AND MUSEUMS EACH FOR PERIODS RANGING FROM 3 MONTHS TO OPEN ENDED. | Description3Txt |
| Expenses3 | $0 | Expenses3Amt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $9,995,960 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $18,393,891 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $28,389,851 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $28,389,851 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $425,848 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $27,964,003 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $1,398,200 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sect4942j3j5 Fndtn And Frgn Org | Yes (X) | Sect4942j3j5FndtnAndFrgnOrgInd |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $2,058,628 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $2,058,628 | QualifyingDistributionsAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Private Operating Fndtn Ruling | 2007-12-26 | PrivateOperatingFndtnRulingDt |
| Section4942j3 | Yes (X) | Section4942j3Ind |
Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $514,732 | CurrentYearAmt |
| Year1 | $1,005,693 | Year1Amt |
| Year2 | $399,978 | Year2Amt |
| Year3 | $258,346 | Year3Amt |
| Total | $2,178,749 | TotalAmt |
Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $437,522 | CurrentYearAmt |
| Year1 | $854,839 | Year1Amt |
| Year2 | $339,981 | Year2Amt |
| Year3 | $219,594 | Year3Amt |
| Total | $1,851,937 | TotalAmt |
Qualifying Distributions QualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $2,058,628 | CurrentYearAmt |
| Year1 | $2,052,439 | Year1Amt |
| Year2 | $2,019,891 | Year2Amt |
| Year3 | $1,122,690 | Year3Amt |
| Total | $7,253,648 | TotalAmt |
Qualifying Distri Not Used Drt QualifyingDistriNotUsedDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Year1 | $0 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $0 | TotalAmt |
Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $2,058,628 | CurrentYearAmt |
| Year1 | $2,052,439 | Year1Amt |
| Year2 | $2,019,891 | Year2Amt |
| Year3 | $1,122,690 | Year3Amt |
| Total | $7,253,648 | TotalAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $932,133 | CurrentYearAmt |
| Year1 | $670,462 | Year1Amt |
| Year2 | $576,995 | Year2Amt |
| Year3 | $287,529 | Year3Amt |
| Total | $2,467,119 | TotalAmt |
Total Support TotalSupportGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Public Support Type PublicSupportType
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Largest Support From EO LargestSupportFromEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Gross Investment Income GrossInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | GLENN FUHRMAN | ContributingManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt | Address Line1RecipientForeignAddress/AddressLine1Txt | Province Or StateRecipientForeignAddress/ProvinceOrStateNm | CountryRecipientForeignAddress/CountryCd | Foreign PostalRecipientForeignAddress/ForeignPostalCd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 92ND STREET Y NURSERY SCHOOL | |||||||||||
| 1395 LEXINGTON AVE | NEW YORK | NY | 10128 | NONE | PC | 92NY NURSERY SCHOOL ANNUAL BENEFIT CORPORATE SPONSORSHIP | $10,000 | ||||
| AMERICAN PATRONS OF THE NATIONAL LIBRARY AND GALLERIES | |||||||||||
| NONE | PC | SUPPORT OF ART EXHIBITION: ANDY GOLDSWORTHY | $126,202 | 72 BELFORD ROAD | EDINBURGH | UK | EH4 3DS | ||||
| AVENUES FOR JUSTICE INC | |||||||||||
| 69 E 130TH ST 2ND FLOOR | NEW YORK | NY | 10037 | NONE | PC | 14TH ANNUAL BAER FAXT GOLF INVITATIONAL | $5,000 | ||||
| NEW YORK ACADEMY OF ART | |||||||||||
| 111 FRANKLIN ST | NEW YORK | NY | 10013 | NONE | PC | SUPPORT OF TRIBECA BALL 2024 | $13,380 | ||||
| NEW YORK ACADEMY OF ART | |||||||||||
| 111 FRANKLIN ST | NEW YORK | NY | 10013 | NONE | PC | SUPPORT OF TAKE HOME A NUDE 2024 | $10,000 | ||||
| NEW YORK ROAD RUNNERS INC | |||||||||||
| 156 W 56TH ST | NEW YORK | NY | 10019 | NONE | PC | 2024 GRIDIRON CLASSIC | $1,245 | ||||
| THE STUDIO MUSEUM IN HARLEM | |||||||||||
| 144 W 125TH ST | NEW YORK | NY | 10027 | NONE | PC | TO CREATE TRANSFORMATIVE PROGRAMMING AND FOSTER THE WORKS OF VISIONARY ARTISTS | $42,200 | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $208,027 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $19,501 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $475,551 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business | 901101 | BusinessCd |
| Unrelated Business Taxbl Incm | $233 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | 18 | ExclusionCd |
| Exclusion | $1,859,829 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp (9 entries)
| DescDesc | BusinessBusinessCd | Unrelated Business Taxbl IncmUnrelatedBusinessTaxblIncmAmt | ExclusionExclusionCd | ExclusionExclusionAmt | Related Or Exempt Function IncmRelatedOrExemptFunctionIncmAmt |
|---|---|---|---|---|---|
| COMVEST INVESTMENT PARTNERS VI-A LP | 901101 | -$29,903 | 14 | -$255,877 | |
| MSD AQUA PARTNERS LP | 14 | -$4,371 | |||
| MSD PRIVATE CREDIT OPPORTUNITY FUND LP | 901101 | $4,675 | 14 | $160,742 | |
| MSD RING PARTNERS LP | 901101 | $194,341 | 14 | $973 | |
| SEE ME BROADWAY LLC | 14 | -$157,219 | |||
| VOLTAGESQUARED GMBH& CO. KG | 14 | -$9,745 | |||
| CONSULTANT SERVICES INCOME | 01 | $2,500 | |||
| EXHIBITION REVENUE | $120,000 | ||||
| REBATE INCOME | 01 | $2,834 |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $169,346 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $2,094,718 | ExclusionAmt |
| Related Or Exempt Function Incm | $120,000 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $2,384,064 | TotalIncomeProducingActyAmt |
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Line Number | 11 | LineNumberTxt |
| Relationship Statement | EXHIBITION REVENUE FROM THE CONTEMPORARY AUSTIN (TCA) OF PRIZE FUNDS OF LUBAINA HIMID: MAKE DO AND MEND | RelationshipStatementTxt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | 0 | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | 0 | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | 0 | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | 0 | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | 0 | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | 0 | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | 0 | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | 0 | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | 0 | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | 0 | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | TAX PREPARATION FEES | CategoryTxt |
| Amt | $51,798 | Amt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $40,557 | DisbursementsCharitablePrpsAmt |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp (8 entries)
| PropertyPropertyDesc | Cost Or Other BasisCostOrOtherBasisAmt | Prior Year DepreciationPriorYearDepreciationAmt | Computation MethodComputationMethodTxt | LifeLifeRt | Current Year ExpenseCurrentYearExpenseAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | AcquiredAcquiredDt |
|---|---|---|---|---|---|---|---|---|
| COMPUTER EQUIPMENT | $4,961 | $4,961 | SL | 5.000000000000 | $0 | $0 | $0 | |
| LEASEHOLD IMPROVEMENTS | $120,142 | $18,486 | SL | 39.000000000000 | $3,081 | $0 | $3,081 | 2018-01-12 |
| LEASEHOLD IMPROVEMENTS | $44,167 | $944 | SL | 39.000000000000 | $1,132 | $0 | $1,132 | 2023-03-02 |
| SECURITY SYSTEM | $38,523 | $2,293 | SL | 7.000000000000 | $5,503 | $0 | $5,503 | 2023-07-25 |
| LEASEHOLD IMPROVEMENTS | $19,888 | $127 | SL | 39.000000000000 | $510 | $0 | $510 | 2023-09-29 |
| LEASEHOLD IMPROVEMENTS | $5,600 | SL | 39.000000000000 | $60 | $0 | $60 | 2024-07-22 | |
| LEASEHOLD IMPROVEMENTS | $5,494 | SL | 39.000000000000 | $47 | $0 | $47 | 2024-09-04 | |
| LEASEHOLD IMPROVEMENTS | $4,400 | SL | 39.000000000000 | $19 | $0 | $19 | 2024-10-29 |
General Explanation Attachment GeneralExplanationAttachment
General Explanation GeneralExplanationGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | Medium ExplanationMediumExplanationTxt |
|---|---|
| FORM 990-PF, PART VI-B, LINE 1A(1) | THE FOUNDATION LEASES SPACE FROM FLAG ART PROPERTY LLC, A LIMITED LIABILITY COMPANY WHICH IS 100% OWNED BY GLENN FUHRMAN, A DISQUALIFIED PERSON. THE LEASE AGREEMENT PROVIDES FOR RENT OF $0. |
| FORM 990-PF, PART XIV, LINE 2 | THE FLAG ART FOUNDATION ("FOUNDATION") WAS CREATED ON MAY 25, 2007 AS A NON-PROFIT CORPORATION TO PROMOTE THE STUDY, IMPROVEMENT AND ADVANCEMENT OF THE VISUAL ARTS, TO FURTHER THE PUBLIC'S APPRECIATION AND UNDERSTANDING OF ACHIEVEMENTS AND ART WORKS ELICITED BY ART, ARCHITECTURE AND LANDSCAPE, TO LOAN WORKS OF ART TO OTHER PUBLIC CHARITIES FOR EXHIBITION, AND TO HOLD AND SUPPORT EXHIBITIONS OF POSTWAR AND CONTEMPORARY WORKS OF ART.THE FOUNDATION WILL OWN (OR HAVE LOANED TO IT FROM OTHERS) PAINTINGS, DRAWINGS AND OTHER WORKS OF ART, AND MAY ALSO OWN OR HAVE LOANED TO IT BOOKS, PUBLICATIONS AND ARCHIVAL MATERIALS RELATED TO WORKS OF ART. THE FOUNDATION WILL USE THESE ITEMS TO CARRY OUT ITS CHARITABLE, EDUCATIONAL AND CULTURAL PROGRAMS AS DESCRIBED BELOW.A PRINCIPAL ACTIVITY OF THE FOUNDATION WILL BE TO CIRCULATE WORKS OF ART ON A CONTINUING BASIS TO EDUCATIONAL INSTITUTIONS, PUBLIC MUSEUMS AND SIMILAR SECTION 501(C)(3) INSTITUTIONS FOR PUBLIC EXAMINATION AND DISPLAY AND USE BY TEACHERS, SCHOLARS AND OTHERS FOR STUDY OF ART AND CULTURE. THE FOUNDATION WILL NOT CHARGE THE INSTITUTIONS TO WHICH IT LENDS WORKS OF ART FOR THEIR USE OF THESE WORKS, BUT THE INSTITUTIONS SOMETIMES MAY BE EXPECTED TO PAY FOR TRANSPORTATION COSTS AND COSTS ASSOCIATED WITH SAFEKEEPING AND PRESERVATION OF THE ART WHILE AT SUCH INSTITUTIONS. |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (9 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| COMVEST INVESTMENT PARTNERS VI-A, LP | AT COST | $738,005 | $1,399,672 |
| CORVEX SELECT EQUITY OFFSHORE FUND LTD. | AT COST | $5,000,000 | $6,350,646 |
| MSD AQUA PARTNERS LP | AT COST | $31,319 | $0 |
| MSD PRIVATE CREDIT OPPORTUNITY FUND | AT COST | $1,168,774 | $819,541 |
| MSD RING PARTNERS LP | AT COST | $0 | $2,453,448 |
| SEE ME BROADWAY LLC | AT COST | $42,781 | $200,000 |
| KERNEL FOODS, INC. | AT COST | $999,995 | $999,995 |
| VOLTAGESQUARED GMBH &CO. KG | AT COST | $2,090,277 | $1,982,738 |
| WOODMONT INVESTMENTS LTD | AT COST | $3,000,000 | $3,834,371 |
Land Etc Schedule2 LandEtcSchedule2
Land Etc LandEtcGrp (8 entries)
| Category Or ItemCategoryOrItemTxt | Cost Or Other BasisCostOrOtherBasisAmt | Accumulated DepreciationAccumulatedDepreciationAmt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|---|
| COMPUTER EQUIPMENT | $4,961 | $4,961 | $0 | $0 |
| LEASEHOLD IMPROVEMENTS | $120,142 | $21,567 | $98,575 | $98,575 |
| LEASEHOLD IMPROVEMENTS | $44,167 | $2,076 | $42,091 | $42,091 |
| SECURITY SYSTEM | $38,523 | $7,796 | $30,727 | $30,727 |
| LEASEHOLD IMPROVEMENTS | $19,888 | $637 | $19,251 | $19,251 |
| LEASEHOLD IMPROVEMENTS | $5,600 | $60 | $5,540 | $5,540 |
| LEASEHOLD IMPROVEMENTS | $5,494 | $47 | $5,447 | $5,447 |
| LEASEHOLD IMPROVEMENTS | $4,400 | $19 | $4,381 | $4,381 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $35,000 | LegalFeesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $35,000 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ARTWORK | Desc |
| BOY Book Value | $1,150,242 | BOYBookValueAmt |
| EOY Book Value | $583,914 | EOYBookValueAmt |
| EOYFMV | $583,914 | EOYFMVAmt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (20 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| ART ADVERTISING | $39,850 | $0 | $0 | $39,850 |
| ART RELATED EXPENSES | $20,963 | $0 | $0 | $20,963 |
| ART SHIPPING & HANDLING | $152,837 | $0 | $0 | $152,837 |
| BANK CHARGES | $506 | $506 | $0 | $0 |
| CATALOGUE EXPENSE | $60,231 | $0 | $0 | $60,231 |
| COMMUNICATIONS | $84,000 | $0 | $0 | $84,000 |
| DUE & SUBSCRIPTIONS | $13,004 | $0 | $0 | $13,004 |
| EXHIBITON EXPENSE | $394,812 | $0 | $0 | $394,812 |
| FILING FEES | $379 | $0 | $0 | $379 |
| INSURANCE | $26,260 | $0 | $0 | $26,260 |
| LATE FILING PENALTIES | $360 | $0 | $0 | $0 |
| MEALS | $9,591 | $0 | $0 | $9,591 |
| MISCELLANEOUS EXPENSES | $8,965 | $0 | $0 | $8,965 |
| NYS DEPT OF LAW | $750 | $0 | $0 | $750 |
| NYS FILING FEE | $50 | $0 | $0 | $50 |
| OFFICE EXPENSE | $11,183 | $0 | $0 | $11,183 |
| PAYROLL PROCESSING FEES | $2,873 | $0 | $0 | $2,873 |
| REPAIRS & MAINTENANCE | $23,522 | $0 | $0 | $23,522 |
| STORAGE EXPENSE | $11,298 | $0 | $0 | $11,298 |
| TELEPHONE | $3,953 | $0 | $0 | $3,953 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail (9 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt |
|---|---|---|---|
| COMVEST INVESTMENT PARTNERS VI-A LP | -$285,780 | -$255,877 | -$285,780 |
| MSD AQUA PARTNERS LP | -$4,371 | -$4,371 | -$4,371 |
| MSD PRIVATE CREDIT OPPORTUNITY FUND LP | $165,417 | $160,742 | $165,417 |
| MSD RING PARTNERS LP | $195,314 | $1,974 | $195,314 |
| SEE ME BROADWAY LLC | -$157,219 | -$156,838 | -$157,219 |
| VOLTAGESQUARED GMBH& CO. KG | -$9,745 | -$9,745 | -$9,745 |
| CONSULTANT SERVICES INCOME | $2,500 | $2,500 | $2,500 |
| EXHIBITION REVENUE | $120,000 | $120,000 | $120,000 |
| REBATE INCOME | $2,834 | $2,834 | $2,834 |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO MSD RING PARTNERS LP | Desc |
| BOY Book Value | $291,787 | BOYBookValueAmt |
| EOY Book Value | $121,959 | EOYBookValueAmt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| EVENT PHOTOGRAPHER | $7,775 | $0 | $0 | $7,775 |
| INVESTMENT MANAGEMENT FEES | $154,354 | $154,354 | $0 | $0 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | $65,000 | $0 | $0 | $65,000 |
| PAYROLL TAXES | $30,472 | $0 | $0 | $30,472 |
| STATE TAXES | $3,642 | $0 | $0 | $3,642 |