Pearson Art Foundation Inc.

990PF • Fiscal year 2023 • EIN 23-7087276

Oct 01, 2022 to Sep 30, 2023 • Filed on Jul 30, 2024

Organization Profile

c/o L WOLLIN 124 PROSPECT STRidgewood, NJ 07450

(201) 693-6666

Siviq Scores

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

0.00x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

0.02x

Higher debt load relative to revenue than 45% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

-81%

Higher net margin than 9% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

$49,800

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 49.9% of source-year revenue.

2023 filings • $1M-$5M nonprofits • Source year 2023

-3.8%

Faster asset growth than 25% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Annualized from 2022 to 2023

-28%

Faster revenue growth than 16% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet

Liabilities / Assets36th percentile

Assets

Down

$2,093,055

Down $81,575 (-3.8%) from 2022

Net Assets

Down

$2,090,721

Down $80,513 (-3.7%) from 2022

Liabilities

Down

$2,334

Down $1,062 (-31%) from 2022

Revenue And Expenses

Liabilities / Revenue45th percentile Net Margin9th percentile

Revenue

Down

$99,835

Down $39,129 (-28%) from 2022

Expenses

$180,349

Up $56,130 (+45%) from 2022

Net Income

Down

-$80,514

Down $95,259 (-646%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

Highlighted filing

2023

Assets$2,093,055

Liabilities$2,334

Net Assets$2,090,721

Open 2023 Filing

Operations Trend

Revenue Growth16th percentile

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

Highlighted filing

2023

Revenue$99,835

Expenses$180,349

Net Income-$80,514

Open 2023 Filing

Jump To

Filing Snapshot

Filing Period: Oct 1, 2022 to Sep 30, 2023
Signed: Jul 30, 2024
Return Version: 2022v5.0

Compensation and Service Providers

Top Officer Pay60th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
PERRY PEARSON	Pres Pt	PT	$49,800	-	$49,800
KIMBERLY COOKE	VP Pt	PT	$24,000	-	$24,000
TERESA PEARSON	VP Pt	-	$0	-	-
ERIKA PEARSON	VP Pt	-	$0	-	-
LONNIE WOLLIN	Secy/Treas Pt	-	$0	-	-

Filing and Contact Details

Filer

Filer Name: Pearson Art Foundation Inc
EIN: 23-7087276
Phone: 2016936666
Address: c/o L WOLLIN 124 PROSPECT ST, RIDGEWOOD, NJ 07450

Signing Officer

Name: Lonnie Wollin
Title: secretary
Phone: 2016936666
Signed: 2024-07-30
Discuss with paid preparer: No

Preparer

Firm: Wollin & Neuschatz Inc
Address: 124 PROSPECT ST, RIDGEWOOD, NJ 07450
Preparer: Lonnie Wollin
Phone: 2016936666

Raw XML Appendix373 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.

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DepreciationSchedule/DepreciationPropertyGrp/PriorYearDepreciationAmt	1	1622
DepreciationSchedule/DepreciationPropertyGrp/PriorYearDepreciationAmt	2	5000
DepreciationSchedule/DepreciationPropertyGrp/PropertyDesc	0	BUILDING
DepreciationSchedule/DepreciationPropertyGrp/PropertyDesc	1	IMPROVEMENTS
DepreciationSchedule/DepreciationPropertyGrp/PropertyDesc	2	equipment
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InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/EOYFMVAmt	2	161116
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IRS990PF/StatementsRegardingActy4720Grp/PayPremiumsPrsnlBnftCntrctInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/ProhibitedTaxShelterTransInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/RcvFndsToPayPrsnlBnftCntrctInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/SaleOrExchDisqualifiedPrsnInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/SubjToTaxRmnrtnExPrchtPymtInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/TransferAstDisqualifiedPrsnInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPriorActsInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPYJeopardyInvstInd	0	false
IRS990PF/StatementsRegardingActy4720Grp/UndistributedIncomePYInd	0	false
IRS990PF/StatementsRegardingActyGrp/ActivitiesNotPreviouslyRptInd	0	false
IRS990PF/StatementsRegardingActyGrp/AtLeast5000InAssetsInd	0	true
IRS990PF/StatementsRegardingActyGrp/ChangesToArticlesOrBylawsInd	0	false
IRS990PF/StatementsRegardingActyGrp/ComplyWithPublicInspRqrInd	0	true
IRS990PF/StatementsRegardingActyGrp/DonorAdvisedFundInd	0	false
IRS990PF/StatementsRegardingActyGrp/ForeignAccountsQuestionInd	0	false
IRS990PF/StatementsRegardingActyGrp/Form1120POLFiledInd	0	false
IRS990PF/StatementsRegardingActyGrp/Form990PFFiledWithAttyGenInd	0	true
IRS990PF/StatementsRegardingActyGrp/IndividualWithBooksNm	0	LONNIE WOLLIN
IRS990PF/StatementsRegardingActyGrp/LegislativePoliticalActyInd	0	false
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/AddressLine1Txt	0	124 PROSPECT ST
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/CityNm	0	RIDGEWOOD
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/StateAbbreviationCd	0	NJ
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/ZIPCd	0	07450
IRS990PF/StatementsRegardingActyGrp/MoreThan100SpentInd	0	false
IRS990PF/StatementsRegardingActyGrp/NewSubstantialContributorsInd	0	false
IRS990PF/StatementsRegardingActyGrp/OrganizationDissolvedEtcInd	0	false
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd	0	DE
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd	1	IA
IRS990PF/StatementsRegardingActyGrp/OwnControlledEntityInd	0	false
IRS990PF/StatementsRegardingActyGrp/PhoneNum	0	2018168404
IRS990PF/StatementsRegardingActyGrp/PrivateOperatingFoundationInd	0	true
IRS990PF/StatementsRegardingActyGrp/Section508eRqrSatisfiedInd	0	true
IRS990PF/StatementsRegardingActyGrp/UnrelatedBusIncmOverLimitInd	0	false
IRS990PF/StatementsRegardingActyGrp/WebsiteAddressTxt	0	N/A
IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt	0	Exhibit art to the public Over 25,000 visitors anually
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt	0	0
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt	0	10000
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt	1	83
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	0	CHARITABLE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt	1	EDUCATIONAL
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	0	LAKE OKOBOJI THEATER CAMP
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt	1	CHILDRENS MUSEUM
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	0	PC
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientFoundationStatusTxt	1	PC
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	0	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt	1	N/A
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	0	2001 HIGHWAY 71
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt	1	1009 MUSEUM WAY
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	0	OKOBOJI
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm	1	BENTONVILLE
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	0	IA
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd	1	AR
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	0	51355
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/ZIPCd	1	72712
IRS990PF/SupplementaryInformationGrp/OnlyContriToPreselectedInd	0	X
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt	0	10083
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PerformanceOfServicesEtcInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PurchaseOfAssetsNonchrtblEOInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/ReimbursementArrangementsInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RelationshipsNonchrtblEOInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RentalOfFacilitiesOthAssetsInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SalesOrExchangesOfAssetsInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SharingOfFacilitiesEtcInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOfCashToNonchrtblEOInd	0	false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOtherAssetNonchrtblEOInd	0	false
IRS990PF/UndistributedIncomeGrp/AppliedToCurrentYearAmt	0	1468
IRS990PF/UndistributedIncomeGrp/AppliedToYear1Amt	0	75421
IRS990PF/UndistributedIncomeGrp/DistributableAsAdjustedAmt	0	68296
IRS990PF/UndistributedIncomeGrp/QualifyingDistributionsAmt	0	76889
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt	0	66828
IRS990PF/UndistributedIncomeGrp/UndistributedIncomePYAmt	0	75421
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	0	9012
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	1	1762
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	2	5000
LandEtcSchedule2/LandEtcGrp/BookValueAmt	0	16188
LandEtcSchedule2/LandEtcGrp/BookValueAmt	1	2800
LandEtcSchedule2/LandEtcGrp/BookValueAmt	2	3133
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	0	BUILDING
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	1	LAND
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	2	IMPROVEMENTS
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	3	FUNRITURE
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	0	25200
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	1	2800
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	2	4895
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	3	5000
LandEtcSchedule2/LandEtcGrp/EOYFMVAmt	0	34890
LandEtcSchedule2/LandEtcGrp/EOYFMVAmt	1	5600
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt	0	1207290
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc	0	art held for public exhibit
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt	0	1207290
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt	0	748520
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	0	BANK CHARGES
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	1	POSTAGE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	2	TELEPHONE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	3	EXHIBIT EXPENSE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	4	INSURANCE - ART
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	5	DUES
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	6	DELAWARE REP FEES
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt	0	61000
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt	1	3131
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	0	35
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	1	108
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	2	2692
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	3	61000
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	4	3131
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	5	125
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	6	400
OtherIncomeSchedule2/OtherIncomeDetail/Desc	0	REDHAWK LLC LOSS
OtherIncomeSchedule2/OtherIncomeDetail/Desc	1	BROOKS LLC
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt	0	-1052
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt	1	-650
OtherIncreasesSchedule/OtherIncreasesDetail/Amt	0	1
OtherIncreasesSchedule/OtherIncreasesDetail/Desc	0	ROUNDING
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/BOYBookValueAmt	0	3396
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/Desc	0	PAYROLL TAXES PAYABLE
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/EOYBookValueAmt	0	2334
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/Amt	0	6855
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/CategoryTxt	0	COMPASS CAPITAL- INVEST ADVISORY
TaxesSchedule/TaxesDetail/Amt	0	2345
TaxesSchedule/TaxesDetail/Amt	1	4613
TaxesSchedule/TaxesDetail/Amt	2	1070
TaxesSchedule/TaxesDetail/Amt	3	25
TaxesSchedule/TaxesDetail/CategoryTxt	0	Tax on investment income
TaxesSchedule/TaxesDetail/CategoryTxt	1	FICA TAX
TaxesSchedule/TaxesDetail/CategoryTxt	2	MEDICARE TAX
TaxesSchedule/TaxesDetail/CategoryTxt	3	Delaware Franchise Tax
ReturnHeader/BuildTS	0	2024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	false
ReturnHeader/BusinessOfficerGrp/PersonNm	0	LONNIE WOLLIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	secretary
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	2016936666
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2024-07-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	PEARSON ART FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt	0	PEAR
ReturnHeader/Filer/EIN	0	237087276
ReturnHeader/Filer/PhoneNum	0	2016936666
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	c/o L WOLLIN 124 PROSPECT ST
ReturnHeader/Filer/USAddress/CityNm	0	RIDGEWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	NJ
ReturnHeader/Filer/USAddress/ZIPCd	0	07450
ReturnHeader/IRSResponsiblePrtyInfoCurrInd	0	true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	460696895
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	WOLLIN & NEUSCHATZ INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	124 PROSPECT ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	RIDGEWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	07450
ReturnHeader/PreparerPersonGrp/PhoneNum	0	2016936666
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2024-07-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	LONNIE WOLLIN
ReturnHeader/ReturnTs	0	2024-07-30T10:28:48-00:00
ReturnHeader/ReturnTypeCd	0	990PF
ReturnHeader/TaxPeriodBeginDt	0	2022-10-01
ReturnHeader/TaxPeriodEndDt	0	2023-09-30
ReturnHeader/TaxYr	0	2022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $2,093,055
Liabilities: $2,334
Net assets: $2,090,721
Revenue: $99,835
Expenses: $180,349
Net income: -$80,514

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2025Detailed filing. Detailed filing data is available for this year.	$1.92	$0.00	$1.91	$0.04	$0.16	$0.12
2024Detailed filing. Detailed filing data is available for this year.	$2.04	$0.00	$2.03	$0.15	$0.21	$0.06
2023Detailed filing. Detailed filing data is available for this year.	$2.09	$0.00	$2.09	$0.10	$0.18	$0.08
2022Detailed filing. Detailed filing data is available for this year.	$2.17	$0.00	$2.17	$0.14	$0.12	$0.01
2021Detailed filing. Detailed filing data is available for this year.	$2.16	$0.00	$2.16	$0.10	$0.16	$0.05
2020Detailed filing. Detailed filing data is available for this year.	$2.21	$0.00	$2.21	$0.08	$0.16	$0.08
2012Detailed filing. Detailed filing data is available for this year.	$2.74	$0.00	$2.74		$0.14