Civic Intelligence

Aperture Foundation Inc.

990 • Fiscal year 2016 • EIN 13-3120824

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 06, 2017

547 West 27th Street 4th FloorNew York, NY 10001

(212) 505-5555

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.35x

Higher debt load relative to assets than 85% of similar nonprofits.

2016 filings • NTEE A • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

78th percentile

0.40x

Higher debt load relative to revenue than 78% of similar nonprofits.

2016 filings • NTEE A • $5M-$10M nonprofits • Source year 2016

Net Margin

21st percentile

-16%

Higher net margin than 21% of similar nonprofits.

2016 filings • NTEE A • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

81st percentile

$219,347

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2016 filings • NTEE A • $5M-$10M nonprofits • Source year 2016

Asset Growth

43rd percentile

-0.7%

Faster asset growth than 43% of similar nonprofits.

2016 filings • NTEE A • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

53rd percentile

6.6%

Faster revenue growth than 53% of similar nonprofits.

2016 filings • NTEE A • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$6,927,340

Down $50,561 (-0.7%) from 2015

Net Assets

Down

$4,515,953

Down $975,271 (-18%) from 2015

Liabilities

Up

$2,411,387

Up $924,710 (+62%) from 2015

Revenue

Up

$6,017,487

Up $370,756 (+6.6%) from 2015

Expenses

Up

$6,992,758

Up $593,570 (+9.3%) from 2015

Net Income

Down

-$975,271

Down $222,814 (-30%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2011: $8,373,001Liabilities 2011: $2,172,110Net Assets 2011: $6,200,8912011Assets 2012: $7,731,947Liabilities 2012: $1,140,409Net Assets 2012: $6,591,5382012Assets 2013: $7,397,147Liabilities 2013: $1,356,766Net Assets 2013: $6,040,3812013Assets 2014: $8,176,955Liabilities 2014: $1,933,274Net Assets 2014: $6,243,6812014Assets 2015: $6,977,901Liabilities 2015: $1,486,677Net Assets 2015: $5,491,2242015Assets 2016: $6,927,340Liabilities 2016: $2,411,387Net Assets 2016: $4,515,9532016Assets 2017: $6,178,957Liabilities 2017: $1,877,987Net Assets 2017: $4,300,9702017Assets 2018: $6,630,741Liabilities 2018: $1,964,300Net Assets 2018: $4,666,4412018Assets 2019: $8,676,437Liabilities 2019: $2,683,982Net Assets 2019: $5,992,4552019Assets 2020: $8,581,551Liabilities 2020: $2,885,259Net Assets 2020: $5,696,2922020Assets 2021: $9,605,645Liabilities 2021: $3,003,643Net Assets 2021: $6,602,0022021Assets 2022: $15,580,879Liabilities 2022: $8,903,679Net Assets 2022: $6,677,2002022Assets 2023: $17,355,144Liabilities 2023: $9,552,204Net Assets 2023: $7,802,9402023Assets 2024: $19,562,164Liabilities 2024: $12,545,306Net Assets 2024: $7,016,8582024

Highlighted filing

2016

Assets$6,927,340
Liabilities$2,411,387
Net Assets$4,515,953

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $7,069,997Expenses 2011: $5,087,911Net Income 2011: $1,982,0862011Expenses 2012: $5,055,1812012Revenue 2013: $5,159,228Expenses 2013: $5,710,385Net Income 2013: -$551,1572013Revenue 2014: $6,232,729Expenses 2014: $6,029,429Net Income 2014: $203,3002014Revenue 2015: $5,646,731Expenses 2015: $6,399,188Net Income 2015: -$752,4572015Revenue 2016: $6,017,487Expenses 2016: $6,992,758Net Income 2016: -$975,2712016Revenue 2017: $6,711,530Expenses 2017: $6,926,513Net Income 2017: -$214,9832017Revenue 2018: $7,983,563Expenses 2018: $7,389,457Net Income 2018: $594,1062018Revenue 2019: $8,371,280Expenses 2019: $7,056,339Net Income 2019: $1,314,9412019Revenue 2020: $6,293,088Expenses 2020: $6,592,454Net Income 2020: -$299,3662020Revenue 2021: $6,905,866Expenses 2021: $5,999,328Net Income 2021: $906,5382021Revenue 2022: $7,277,991Expenses 2022: $7,199,287Net Income 2022: $78,7042022Revenue 2023: $8,656,032Expenses 2023: $7,529,511Net Income 2023: $1,126,5212023Revenue 2024: $6,645,412Expenses 2024: $7,356,395Net Income 2024: -$710,9832024

Highlighted filing

2016

Revenue$6,017,487
Expenses$6,992,758
Net Income-$975,271
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 6, 2017
Return Version
2016v3.0
Gross Receipts
$8,097,058
Mission and Program Overview

Mission

Publication of books, magazines, and maintenance of an art gallery for the purpose of promoting an appreciation of photography & visual arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$2,600,151$2,970,127▲ $369,976
Accounts Receivable$1,136,351$1,432,582▲ $296,231
Cash and Non-Interest-Bearing Accounts$1,290,113$835,399▼ $454,714
Land, Buildings, and Equipment, Net$379,229$282,538▼ $96,691
Prepaid Expenses and Deferred Charges$215,066$232,373▲ $17,307
Pledges and Grants Receivable$140,144$4,740▼ $135,404
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$6,977,901$6,927,340▼ $50,561
Other Assets Total$1,216,847$1,169,581▼ $47,266
Liabilities
Accounts Payable and Accrued Expenses$755,165$1,304,142▲ $548,977
Other Liabilities$731,512$857,245▲ $125,733
Unsecured Notes Loans Payable-$250,000-
Total Liabilities$1,486,677$2,411,387▲ $924,710
Net Assets / Fund Balance
Unrestricted Net Assets$4,828,986$3,966,069▼ $862,917
Temporarily Rstr Net Assets$662,238$549,884▼ $112,354
Total Net Assets Fund Balance$5,491,224$4,515,953▼ $975,271
Total Liabilities and Net Assets / Fund Balance$6,977,901$6,927,340▼ $50,561

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$40,662$1,215,680$1,256,342
Buildings$77,967$417,092$495,059
Other Land Buildings$85,693$334,702$420,395
Equipment$24,008$234,910$258,918
Land$54,208-$54,208
Other Assets Org$55,417--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris BootExecutive DirectorFT$213,692$5,655$219,347
Mary Colman St JohnCFOFT$167,784$5,655$173,439
Sarah McnearDeputy DirectorFT$88,430-$88,430
Revenue and Support

Revenue Composition

Contributions and Grants
$1,433,336
Program Service Revenue
$548,840
Investment Income
$334,929
Other Revenue
$3,700,382
All Other Contributions
$1,401,736
Change in Net Assets
$-975,271

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,017,487
Revenue Not Reported on Form 990
$1,984,649
Total Revenue per Audited Statements
$8,002,136
Total Revenue per Form 990
$6,017,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,962,731
Salaries, Compensation, and Employee Benefits$3,030,027
Total Fundraising Expense$647,142
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,622,520$57,528$411,473$2,091,521
All Other Expenses$378,430$311,315$118,901$808,646
Occupancy$30$624,923-$624,953
Current Officers, Directors, Trustees, and Key Employees-$374,000$72,000$446,000
Royalties$351,241--$351,241
Other Employee Benefits-$269,084-$269,084
Payroll Taxes$134,486$39,407$34,529$208,422
Other Expenses$112,128$12,391$2,910$127,429
Travel$87,891$32,483$6,869$127,243
Depreciation Depletion-$111,812-$111,812
Office Expenses$67$105,723$460$106,250
Advertising$102,914--$102,914
Information Technology$64,330--$64,330
Insurance-$52,384-$52,384
Fees for Services Accounting-$25,000-$25,000
Pension Plan Contributions-$15,000-$15,000
Fees for Services Legal-$13,415-$13,415
Interest-$6,035-$6,035
Total Functional Expenses$4,295,116$2,050,500$647,142$6,992,758

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,977,407
Expenses per Audited Statements$6,992,758
Total Expenses per Form 990$6,992,758
Expenses Not Reported on Form 990$1,984,649
International Activity

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
francenone-00$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$796,288
Fundraising Direct Expenses$290,529
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
annual benefit$827,888$796,288$110,905$685,383
Total Events$827,888$796,288$290,529$505,759
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
deferred income$651,308
Royalties Payable$178,232
deferred lease allowance$27,704
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 review conducted by Executive Director, CFO & Audit Committee

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

When recruiting for the CEO position in 2010, the Board engaged a recruiting consultant to help with the search, review applications, and determine compensation using comparable compensation data. The board approved a 10% salary increase in 2015, the first raise since the CEO was hired.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The CEO engaged a recruiting firm to hire other key employees (CFO (2010), Deputy Director (2012), and Sales Director, Books (2015). As with the CEO search, the recruiting firm helped with the search, reviewed applications, and provided comparable compensation data to help establish compensation. The Board approved a 10% raise for the CFO in 2015, the first raise since the CFO was hired.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Information available upon request

Filing and Contact Details

Filer

Filer Name
Aperture Foundation Inc
EIN
13-3120824
Phone
2125055555
Address
547 WEST 27TH STREET 4TH FLOOR, NEW YORK, NY 10001

Signing Officer

Name
Chris Boot
Title
Executive Director
Signed
2017-10-06
Discuss with paid preparer
Yes

Organization Details

Formed
1982
Legal Domicile
Ny
Voting Board Members
27
Independent Board Members
24
Employees
56

Preparer

Firm
Zapken & Loeb LLP
Address
3 Crossways Park Dr West, Woodbury, NY 11797-2010
Preparer
Jeffrey Isaacson
Phone
5168225000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E: Other Expenses

: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

AR DISCOUNT EXPENSES: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

BAD DEBTS: Column (A) - Total = $-12740; Column (B) - Program Services = $0; Column (C) - Management & General = $-12740; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

BANK & CREDIT CARD CHARGES: Column (A) - Total = $74352; Column (B) - Program Services = $0; Column (C) - Management & General = $74352; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Catalogs & Direct Mail: Column (A) - Total = $47240; Column (B) - Program Services = $45977; Column (C) - Management & General = $0; Column (D) - Fundraising = $1263

Form 990, Part IX, Line 24E: Other Expenses

CONTRIBUTION EXPENSES: Column (A) - Total = $999; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $999

Form 990, Part IX, Line 24E: Other Expenses

DEVELOPMENT EXPENSES: Column (A) - Total = $4409; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $4409

Form 990, Part IX, Line 24E: Other Expenses

Dues & Subscriptions: Column (A) - Total = $3686; Column (B) - Program Services = $773; Column (C) - Management & General = $0; Column (D) - Fundraising = $2913

Form 990, Part IX, Line 24E: Other Expenses

LECTURES: Column (A) - Total = $73389; Column (B) - Program Services = $73389; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

millerton expenses: Column (A) - Total = $33615; Column (B) - Program Services = $0; Column (C) - Management & General = $33615; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Miscellaneous: Column (A) - Total = $826; Column (B) - Program Services = $814; Column (C) - Management & General = $0; Column (D) - Fundraising = $12

Form 990, Part IX, Line 24E: Other Expenses

ORDER PROCESSING: Column (A) - Total = $73090; Column (B) - Program Services = $73090; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

OUTSIDE SERVICES: Column (A) - Total = $46878; Column (B) - Program Services = $39067; Column (C) - Management & General = $2598; Column (D) - Fundraising = $5213

Form 990, Part IX, Line 24E: Other Expenses

payroll processing fees: Column (A) - Total = $56830; Column (B) - Program Services = $0; Column (C) - Management & General = $56830; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Periodical Mailing: Column (A) - Total = $118197; Column (B) - Program Services = $118197; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

press releases: Column (A) - Total = $3344; Column (B) - Program Services = $3344; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PRIZES: Column (A) - Total = $15424; Column (B) - Program Services = $15424; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

RECRUITING: Column (A) - Total = $3240; Column (B) - Program Services = $0; Column (C) - Management & General = $3240; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

REPAIRS: Column (A) - Total = $49179; Column (B) - Program Services = $0; Column (C) - Management & General = $49179; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

RESEARCH: Column (A) - Total = $2355; Column (B) - Program Services = $2355; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SECURITY: Column (A) - Total = $6562; Column (B) - Program Services = $0; Column (C) - Management & General = $6562; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SPECIAL EVENTS & ANNUAL APPEAL: Column (A) - Total = $104092; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $104092

Form 990, Part IX, Line 24E: Other Expenses

Taxes: Column (A) - Total = $525; Column (B) - Program Services = $0; Column (C) - Management & General = $525; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

TELEPHONE: Column (A) - Total = $55607; Column (B) - Program Services = $0; Column (C) - Management & General = $55607; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

UTILITIES: Column (A) - Total = $41547; Column (B) - Program Services = $0; Column (C) - Management & General = $41547; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

VAULT: Column (A) - Total = $6000; Column (B) - Program Services = $6000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

Collections are maintained to support the organization's mission of promoting an appreciation of photography and visual arts.

Part X : FIN48 Footnote

Pursuant to the accounting guidance concerning provisions for uncertain income tax positions contained in the Financial Accounting Standards Board's ("FASB") Accounting Standards Codification ("ASC") Topic 740-10, management has determined that the Organization does not have any uncertain tax positions and associated unrecognized benefits that materially impact the financial statements or related disclosures.The organization is exempt from Federal income taxes under Section 501(c) (3) of the Internal Revenue Code and accordingly, no provision has been made in the accompanying financial statements for any Federal taxes. The organization is no longer subject to Federal or state income tax examinations by tax authorities for years before 2013.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

cost of goods sold $1694120 fundraising direct expenses $290529

Part XII, Line 2D: Other expenses and losses per audited F/S

COST OF GOODS SOLD $1694120 fundraising direct expenses $290529

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TTEE, Treas.
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.6$12.5$7.02$6.65$7.36$0.71
2023Detailed filing. Detailed filing data is available for this year.$17.4$9.55$7.80$8.66$7.53$1.13
2022Detailed filing. Detailed filing data is available for this year.$15.6$8.90$6.68$7.28$7.20$0.08
2021Detailed filing. Detailed filing data is available for this year.$9.61$3.00$6.60$6.91$6.00$0.91
2020Detailed filing. Detailed filing data is available for this year.$8.58$2.89$5.70$6.29$6.59$0.30
2019Detailed filing. Detailed filing data is available for this year.$8.68$2.68$5.99$8.37$7.06$1.31
2018Detailed filing. Detailed filing data is available for this year.$6.63$1.96$4.67$7.98$7.39$0.59
2017Detailed filing. Detailed filing data is available for this year.$6.18$1.88$4.30$6.71$6.93$0.21
2016Detailed filing. Detailed filing data is available for this year.$6.93$2.41$4.52$6.02$6.99$0.98
2015Detailed filing. Detailed filing data is available for this year.$6.98$1.49$5.49$5.65$6.40$0.75
2014Detailed filing. Detailed filing data is available for this year.$8.18$1.93$6.24$6.23$6.03$0.20
2013Detailed filing. Detailed filing data is available for this year.$7.40$1.36$6.04$5.16$5.71$0.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.73$1.14$6.59$5.06
2011Summary only. Only limited summary data is available for this year.$8.37$2.17$6.20$7.07$5.09$1.98