Civic Intelligence

American Folk Art Museum

EIN 13-1985627 • 501(c)3 • New York, NY

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Profile

The american folk art museum is the premier institution devoted to the aesthetic appreciation of traditional folk art and creative expressions of contemporary self-taught artists from the united states and abroad. The museum preserves, conserves, and interprets a comprehensive collection of the highest quality, with objects dating from the eighteenth century to the present.

Refreshing map…

2 Lincoln SquareNew York, NY 10023

www.folkartmuseum.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

25th percentile

0.04x

Higher debt load relative to revenue than 25% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Source year 2024

Net Margin

20th percentile

-20%

Higher net margin than 20% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

82nd percentile

$341,810

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

NTEE A • $10M-$25M nonprofits • Source year 2024

Asset Growth

33rd percentile

0.1%

Faster asset growth than 33% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-42%

Faster revenue growth than 7% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$16,977,226

Up $22,974 (+0.1%) from 2023

Liabilities

Down

$235,092

Down $172,792 (-42%) from 2023

Net Assets

Up

$16,742,134

Up $195,766 (+1.2%) from 2023

Operations
Liabilities / Revenue25th percentileNet Margin20th percentile

Revenue

Down

$5,537,927

Down $4,027,173 (-42%) from 2023

Expenses

Up

$6,661,763

Up $1,295,473 (+24%) from 2023

Net Income

Down

-$1,123,836

Down $5,322,646 (-127%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0-$10MAssets 2011: $28,477,987Liabilities 2011: $32,783,529Net Assets 2011: -$4,305,5422011Assets 2012: $8,566,725Liabilities 2012: $325,302Net Assets 2012: $8,241,4232012Assets 2013: $9,524,065Liabilities 2013: $225,638Net Assets 2013: $9,298,4272013Assets 2014: $9,498,673Liabilities 2014: $271,502Net Assets 2014: $9,227,1712014Assets 2015: $9,869,683Liabilities 2015: $403,548Net Assets 2015: $9,466,1352015Assets 2016: $10,807,826Liabilities 2016: $352,302Net Assets 2016: $10,455,5242016Assets 2017: $10,657,276Liabilities 2017: $349,850Net Assets 2017: $10,307,4262017Assets 2018: $10,508,628Liabilities 2018: $271,811Net Assets 2018: $10,236,8172018Assets 2019: $10,332,280Liabilities 2019: $335,567Net Assets 2019: $9,996,7132019Assets 2020: $10,007,735Liabilities 2020: $194,235Net Assets 2020: $9,813,5002020Assets 2021: $12,095,077Liabilities 2021: $413,592Net Assets 2021: $11,681,4852021Assets 2022: $11,749,573Liabilities 2022: $387,618Net Assets 2022: $11,361,9552022Assets 2023: $16,954,252Liabilities 2023: $407,884Net Assets 2023: $16,546,3682023Assets 2024: $16,977,226Liabilities 2024: $235,092Net Assets 2024: $16,742,1342024

Highlighted filing

2024

Assets$16,977,226
Liabilities$235,092
Net Assets$16,742,134
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2011: $7,545,575Expenses 2011: $11,291,125Net Income 2011: -$3,745,5502011Expenses 2012: $3,839,9802012Revenue 2013: $4,067,228Expenses 2013: $3,061,936Net Income 2013: $1,005,2922013Revenue 2014: $3,226,565Expenses 2014: $4,111,914Net Income 2014: -$885,3492014Revenue 2015: $4,759,662Expenses 2015: $4,445,713Net Income 2015: $313,9492015Revenue 2016: $5,420,457Expenses 2016: $3,884,833Net Income 2016: $1,535,6242016Revenue 2017: $3,417,353Expenses 2017: $4,220,031Net Income 2017: -$802,6782017Revenue 2018: $3,344,418Expenses 2018: $4,206,590Net Income 2018: -$862,1722018Revenue 2019: $3,621,755Expenses 2019: $4,121,826Net Income 2019: -$500,0712019Revenue 2020: $3,481,365Expenses 2020: $3,661,559Net Income 2020: -$180,1942020Revenue 2021: $3,818,559Expenses 2021: $3,973,404Net Income 2021: -$154,8452021Revenue 2022: $5,728,873Expenses 2022: $4,521,552Net Income 2022: $1,207,3212022Revenue 2023: $9,565,100Expenses 2023: $5,366,290Net Income 2023: $4,198,8102023Revenue 2024: $5,537,927Expenses 2024: $6,661,763Net Income 2024: -$1,123,8362024

Highlighted filing

2024

Revenue$5,537,927
Expenses$6,661,763
Net Income-$1,123,836
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$16,977,226
Liabilities
$235,092
Net assets
$16,742,134
Revenue
$5,537,927
Expenses
$6,661,763
Net income
-$1,123,836
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.0$0.24$16.7$5.54$6.66$1.12
2023Detailed filing. Detailed filing data is available for this year.$17.0$0.41$16.5$9.57$5.37$4.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.7$0.39$11.4$5.73$4.52$1.21
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$0.41$11.7$3.82$3.97$0.15
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.0$0.19$9.81$3.48$3.66$0.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.3$0.34$10.00$3.62$4.12$0.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.5$0.27$10.2$3.34$4.21$0.86
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$0.35$10.3$3.42$4.22$0.80
2016Detailed filing. Detailed filing data is available for this year.$10.8$0.35$10.5$5.42$3.88$1.54
2015Detailed filing. Detailed filing data is available for this year.$9.87$0.40$9.47$4.76$4.45$0.31
2014Detailed filing. Detailed filing data is available for this year.$9.50$0.27$9.23$3.23$4.11$0.89
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$9.52$0.23$9.30$4.07$3.06$1.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.57$0.33$8.24$3.84
2011Summary only. Only limited summary data is available for this year.$28.5$32.8$4.31$7.55$11.3$3.75
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$6,375,740
Mission and Program Overview

Mission

The american folk art museum is the premier institution devoted to the aesthetic appreciation of traditional folk art and creative expressions of contemporary self-taught artists from the united states and abroad. The museum preserves, conserves, and interprets a comprehensive collection of the highest quality, with objects dating from the eighteenth century to the present.

The american folk art museum is the premier institution devoted to the aesthetic appreciation of traditional folk art and creative expressions of contemporary self-taught artists from the united states and abroad. The museum preserves conserves and interprets a comprehensive collection of the highest quality with objects dating from the eighteenth century to present.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,179,446$10,136,711▲ $1,957,265
Savings and Temporary Cash Investments$3,923,954$2,035,320▼ $1,888,634
Investments Other Securities$1,255,215$1,843,804▲ $588,589
Accounts Receivable$698,689$724,786▲ $26,097
Land, Buildings, and Equipment, Net$465,600$357,865▼ $107,735
Pledges and Grants Receivable$685,000$267,300▼ $417,700
Prepaid Expenses and Deferred Charges$211,528$237,560▲ $26,032
Cash and Non-Interest-Bearing Accounts$403,413$157,781▼ $245,632
Inventories for Sale or Use$121,631$137,359▲ $15,728
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$16,954,252$16,977,226▲ $22,974
Other Assets Total$1,009,776$1,078,740▲ $68,964
Liabilities
Accounts Payable and Accrued Expenses$358,088$163,076▼ $195,012
Deferred Revenue$35,000$59,496▲ $24,496
Other Liabilities$14,796$12,520▼ $2,276
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$407,884$235,092▼ $172,792
Net Assets / Fund Balance
Net Assets With Donor Restrictions$15,499,808$15,115,729▼ $384,079
Net Assets Without Donor Restrictions$1,046,560$1,626,405▲ $579,845
Total Net Assets Fund Balance$16,546,368$16,742,134▲ $195,766
Total Liabilities and Net Assets / Fund Balance$16,954,252$16,977,226▲ $22,974

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$199,253$1,155,456$1,354,708
Equipment$158,612$451,751$610,363
Other Land Buildings$0$40,590$40,590
Other Assets Org$1,078,740--
Other Securities$1,843,804--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$5,173,028$9,100▲ $1,477,003$0$5,659,131
2022$4,991,954$0▲ $623,541$0$5,173,028
2021$5,453,087$50,000▼ $511,133$0$4,991,954
2020$4,559,587$107,572▲ $1,080,828$0$5,453,087
2019$4,733,542$0▲ $114,645$0$4,559,587
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jason T BuschDirector and CEOFT$294,382$47,428$341,810
Mark EdenChief Financial OfficerFT$171,831$4,078$175,909
Karley a KlopfensteinDeputy Director and Chief Development OfficerFT$116,592$20,134$136,726
Christopher GormanDeputy Director and Chief Communications OfficerFT$122,017$13,925$135,942
Valerie RousseauCuratorial Chair for Exhibitions and Senior Curator of Self-taught Art and Art BrutFT$103,720$27,610$131,330

Board Members and Trustees

NameTitle
Edward V Blanchard JrChairman
Elizabeth V WarrenPresident
Lucy C DanzigerVice President
Barbara L GordonTrustee
Ben Z CohenTrustee
Brian DonnellyTrustee
Bruce J WendelTrustee
Christopher GigioTrustee
David DelucaTrustee
Edward ShapiroTrustee
Ellen BrooksTrustee
Gail Wright SirmansTrustee
Gill HollandTrustee
James RohrbachTrustee
Jane a ShallatTrustee
Jolie AltmanTrustee
Joyce B CowinTrustee
Julia AlexanderTrustee
Karin FieldingTrustee
Lana MasorTrustee
Laura ParsonsTrustee
Lawrence B BenensonTrustee
Leslie SeemanTrustee
Luc M VolatierTrustee
Lybra ClemonsTrustee
Peter RapaportTrustee
Raymondy ThermidorTrustee
Willet Bracken EvansTrustee
Roberta S TerkowitzSecretary
Brett a RobbinsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,687,657
Program Service Revenue
$1,686,089
Investment Income
$488,602
Other Revenue
$675,579
All Other Contributions
$2,335,252
Change in Net Assets
$-1,123,836
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,554,773
Salaries, Compensation, and Employee Benefits$3,106,990
Total Fundraising Expense$661,708
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,513,516$279,447$281,066$2,074,029
Fees for Services Legal$1,108,688$341,907$20,245$1,470,840
Current Officers, Directors, Trustees, and Key Employees$77,603$285,662$151,832$515,097
Fees for Services Other$261,608$82,251$8,238$352,097
Occupancy$261,472$26,818$36,874$325,164
All Other Expenses$289,385$699$271$290,355
Other Employee Benefits$181,322$59,423$45,521$286,266
Office Expenses$190,040$16,220$33,287$239,547
Payroll Taxes$111,516$39,606$30,340$181,462
Depreciation Depletion$85,954$9,633$9,632$105,219
Other Expenses$25,170$61,170$11,818$98,158
Insurance$24,115$45,609$0$69,724
Fees for Service Investment Mgmnt Fees$0$52,126$0$52,126
Pension Plan Contributions$30,811$10,943$8,382$50,136
Travel$28,871$17,100$3,721$49,692
Advertising$10,409$0$9,744$20,153
Information Technology$12,682$2,773$1,249$16,704
Conferences and Meetings$4,036$5,820$5,385$15,241
Total Functional Expenses$4,650,079$1,349,976$661,708$6,661,763
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$820,681
Fundraising Direct Expenses$222,936
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$592,154$592,154$167,165$424,989
Concert$37,640$37,640$46,771$-9,131
Total Events$820,681$820,681$222,936$597,745
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$12,520
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 2

“Jane shallat and peter rapaport have a family relationship.”

Part VI, Line 11B

“The form 990 is prepared by an independent accountant and reviewed by management and the audit committee and distributed to the board of directors for final review and approval before filing.”

Part VI, Line 12C

“Board members and management are required to sign annual questionnaires disclosing any conflict of interest that could exist. Management reviews them and determines if any conflict exists.”

Part VI, Line 15

“The director and ceo has a contract that includes a compensation agreement. There is a compensation committee comprised of members of the board of trustees. The committee agrees on the compensation section of the contract based upon comparability data of other non-profit and museum directors of similar sized museums. This is then prorated for the new york area based upon data surveys and other comparability data. The compensation for the other top management and officers below the director and ceo is determined by the director and ceo based upon annual reviews as well as comparability data of similar positions in other non-profits and museums of similar size. This is then prorated for the new york area based upon data surveys and other comparability data.”

Part VI, Line 19

“Governing documents conflict of interest policy and fnancial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
American Folk Art Museum
EIN
13-1985627
In Care Of
% JASON T BUSCH
Phone
2125959533
Address
2 LINCOLN SQUARE, NEW YORK, NY 10023

Signing Officer

Name
Mark Eden
Title
CFO
Signed
2025-05-15

Organization Details

Formed
1961
Legal Domicile
Ny
Voting Board Members
30
Independent Board Members
30
Employees
61
Volunteers
35
Supplemental Narrative

Additional Explanations

Part XI, Line 9

“| Description:, Explanation:, Amount:| CHANGE IN NET ASSETS, CHANGE IN VALUE OF BEQUEST, $68965|”

Raw XML AppendixShowing 400 of 1,035 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0THE AMERICAN FOLK ART MUSEUM IS THE PREMIER INSTITUTION DEVOTED TO THE AESTHETIC APPRECIATION OF TRADITIONAL FOLK ART AND CREATIVE EXPRESSIONS OF CONTEMPORARY SELF-TAUGHT ARTISTS FROM THE UNITED STATES AND ABROAD. THE MUSEUM PRESERVES CONSERVES AND INTERPRETS A COMPREHENSIVE COLLECTION OF THE HIGHEST QUALITY WITH OBJECTS DATING FROM THE EIGHTEENTH CENTURY TO PRESENT.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR AND CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DEPUTY DIRECTOR AND CHIEF COMMUNICATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DEPUTY DIRECTOR AND CHIEF DEVELOPMENT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CURATORIAL CHAIR FOR EXHIBITIONS AND SENIOR CURATOR OF SELF-TAUGHT ART AND ART BRUT
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IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17SECRETARY

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