Civic Intelligence

Romare Bearden Foundation Inc

EIN 30-0207085 • 501(c)3 • New York, NY

Profile

To perpetuate romare bearden's artistic and intellectual legacies, and to promote public awareness and appreciation of the arts.

2214 Frederick Douglass Blvd 235New York, NY 10026

www.beardenfoundation.org

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.04x

Higher debt load relative to assets than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.27x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

10th percentile

-33%

Higher net margin than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

19th percentile

-6.7%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

14th percentile

-20%

Faster revenue growth than 14% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Down

$2,377,120

Down $295,579 (-11%) from 2023

Liabilities

Down

$84,931

Down $34,528 (-29%) from 2023

Net Assets

Down

$2,292,189

Down $261,051 (-10%) from 2023

Revenue

Down

$317,870

Down $285,936 (-47%) from 2023

Expenses

Down

$423,746

Down $139,399 (-25%) from 2023

Net Income

Down

-$105,876

Down $146,537 (-360%) from 2023

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2015: $2,273,505Liabilities 2015: $224,607Net Assets 2015: $2,048,8982015Assets 2016: $2,159,553Liabilities 2016: $135,741Net Assets 2016: $2,023,8122016Assets 2017: $2,296,886Liabilities 2017: $58,569Net Assets 2017: $2,238,3172017Assets 2018: $2,217,029Liabilities 2018: $71,057Net Assets 2018: $2,145,9722018Assets 2019: $2,152,195Liabilities 2019: $68,209Net Assets 2019: $2,083,9862019Assets 2020: $2,047,427Liabilities 2020: $55,100Net Assets 2020: $1,992,3272020Assets 2021: $2,658,009Liabilities 2021: $69,238Net Assets 2021: $2,588,7712021Assets 2022: $2,730,657Liabilities 2022: $91,276Net Assets 2022: $2,639,3812022Assets 2023: $2,672,699Liabilities 2023: $119,459Net Assets 2023: $2,553,2402023Assets 2024: $2,377,120Liabilities 2024: $84,931Net Assets 2024: $2,292,1892024

Highlighted filing

2024

Assets$2,377,120
Liabilities$84,931
Net Assets$2,292,189

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2015: $110,240Expenses 2015: $243,685Net Income 2015: -$133,4452015Revenue 2016: $210,474Expenses 2016: $235,560Net Income 2016: -$25,0862016Revenue 2017: $432,684Expenses 2017: $213,202Net Income 2017: $219,4822017Revenue 2018: $103,971Expenses 2018: $196,316Net Income 2018: -$92,3452018Revenue 2019: $118,880Expenses 2019: $180,866Net Income 2019: -$61,9862019Revenue 2020: $114,414Expenses 2020: $184,918Net Income 2020: -$70,5042020Revenue 2021: $240,778Expenses 2021: $259,926Net Income 2021: -$19,1482021Revenue 2022: $493,006Expenses 2022: $283,009Net Income 2022: $209,9972022Revenue 2023: $603,806Expenses 2023: $563,145Net Income 2023: $40,6612023Revenue 2024: $317,870Expenses 2024: $423,746Net Income 2024: -$105,8762024

Highlighted filing

2024

Revenue$317,870
Expenses$423,746
Net Income-$105,876

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 11, 2025
Return Version
2024v5.0
Gross Receipts
$329,308
Mission and Program Overview

Mission

To perpetuate romare bearden's artistic and intellectual legacies, and to promote public awareness and appreciation of the arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$470,895$324,019▼ $146,876
Cash and Non-Interest-Bearing Accounts$172,087$62,778▼ $109,309
Accounts Receivable$61,614$22,781▼ $38,833
Land, Buildings, and Equipment, Net$1,353$792▼ $561
Total Assets$2,672,699$2,377,120▼ $295,579
Other Assets Total$1,966,750$1,966,750→ $0
Liabilities
Other Liabilities$47,907$57,297▲ $9,390
Accounts Payable and Accrued Expenses$71,552$27,634▼ $43,918
Total Liabilities$119,459$84,931▼ $34,528
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,192,337$2,086,461▼ $105,876
Net Assets With Donor Restrictions$360,903$205,728▼ $155,175
Total Net Assets Fund Balance$2,553,240$2,292,189▼ $261,051
Total Liabilities and Net Assets / Fund Balance$2,672,699$2,377,120▼ $295,579

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$792$63,001-
Other Assets Org$1,966,750--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$254,355
Program Service Revenue
$6,561
Investment Income
$72
Other Revenue
$56,882
All Other Contributions
$254,355
Change in Net Assets
$-105,876

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$213,473
Salaries, Compensation, and Employee Benefits$210,273
Total Fundraising Expense$65,569
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$154,708$19,339$19,338$193,385
Fees for Services Other$26,007$485$31,960$58,452
Fees for Services Legal$34,328-$11,443$45,771
Fees for Services Accounting-$37,800-$37,800
Office Expenses$18,128$10,533$390$29,051
Insurance$16,007$2,328$487$18,822
Payroll Taxes$13,510$1,689$1,689$16,888
Travel$11,463$79$78$11,620
Other Expenses$10,000--$10,000
Conferences and Meetings$1,023$245$128$1,396
Depreciation Depletion$449$56$56$561
Total Functional Expenses$285,623$72,554$65,569$423,746
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$36,074
Fundraising Direct Expenses$11,438
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Cultivation Eve$36,074$36,074$5,188$30,886
Total Events$36,074$36,074$11,438$24,636
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Diedre Harris-kelleyFamily MemberEmployeeNo$105,500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Estate of Nanette Bearden$57,297
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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

Form 990, Page 6, Part VI, Line 2

Tallal i. Elboushi chairman family relationship cousin sheila rohan director family relationship aunt irie harris director family relationship cousin ronald jackson director family relationship cousin

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by the co-director, chairman, and treasurer prior to filing.

Form 990, Page 6, Part VI, Line 19

Governing documents are provided upon request.

Filing and Contact Details

Filer

Filer Name
Romare Bearden Foundation Inc
EIN
30-0207085
Phone
2126659550
Address
2214 FREDERICK DOUGLASS BLVD 235, NEW YORK, NY 10026

Signing Officer

Name
Tallal I Elboushi
Title
Chairman
Phone
2126659550
Signed
2025-11-11

Organization Details

Principal Officer
Tallal I Elboushi
Formed
2003
Legal Domicile
Ny
Voting Board Members
14
Independent Board Members
9
Employees
3

Preparer

Firm
Linda a Hamilton CPA Pllc
Address
1120 AVENUE OF AMERICAS FL 4TH, NEW YORK, NY 10036
Preparer
Linda Hamilton CPA
Phone
2128502521
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Support to scholars to encourage new exhibitions and publications on the artist; managed research and image requests; support to new documentary film on bearden. Foundation representation at several conferences and initiative meetings, including the harlem semester initiative at barnard college- (ongoing spring 2024) and harlem cultural collaboration (ongoing); artist endowed foundation annual forum (oct 2024); support to a consortium of artist endowed foundation pilot program for interns and fellows in the arts. The foundation board and staff hosted a spring salon in washington, dc included a talk by scholar leslie king hammond, and art auction with n'namdi gallery (june 8, 2024); attended conference black portraiture (venice april 20-21, 2024); represented at group by unit gallery in venice, italy (april 2024); the foundation staff and board members participated in the launch of a new documentary on bearden, at miami art basel (dec 1-4, 2024). This included a small exhibition of collage, and a panel discussion with the filmmaker, deborah riley draper, and artist tschabalala self.

Form 990, Part IX, Line 11G

Other consultants 12,425 484 23,272 direct program expenses 13,582 1 8,688 total 26,007 485 31,960

Form 990, Part XI, Line 9

Decrease in donor restricted funds -155,175

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IRS990/ProgSrvcAccomActy2Grp/Desc0THE FOUNDATION DEVELOPED AND PRESENTED SEVERAL PROGRAMS AS PART OF OUR THE"CINQUE ARTIST PROGRAM" TALK SERIES THAT PROVIDES A PLATFORM FOR MID- CAREER ARTISTS. SPEAKERS ARE PAID AN HONORARIUM. ARTISTS INCLUDED PHILIP SMALLWOOD (APRIL 23, 2024); HANK WILLIS THOMAS (NOVEMBER 15, 2024); KAHLIL IRVING (OCTOBER 16, 2024); AND NANCY GROSSMAN (OCTOBER 17, 2024)
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IRS990/ProgSrvcAccomActy3Grp/Desc0FOUNDATION TRAVELING EXHIBITION SHOWED AT TWO VENUES- CLAY ART CENTER, CHARLESTON, WV (NOV. 2023 - FEB 2024); THE FOUNDATION ALSO LENT WORKS FOR A SMALL EXHIBITION AT THE PARAMOUNT CENTER FOR THE ARTS IN IN ST. CLOUD, MN. (JUNE 24 -JULY 29, 2024); THE CO-DIRECTORS BOTH TRAVELLED TO GIVE GALLERY TALKS IN SUPPORT OF THE TRAVELING SHOW AT THE CLAY ART CENTER, CHARLESTON, WV (FEBRUARY 1-3, 2024)
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SUPPORT TO SCHOLARS TO ENCOURAGE NEW EXHIBITIONS AND PUBLICATIONS ON THE ARTIST; MANAGED RESEARCH AND IMAGE REQUESTS; SUPPORT TO NEW DOCUMENTARY FILM ON BEARDEN. FOUNDATION REPRESENTATION AT SEVERAL CONFERENCES AND INITIATIVE MEETINGS, INCLUDING THE HARLEM SEMESTER INITIATIVE AT BARNARD COLLEGE- (ONGOING SPRING 2024) AND HARLEM CULTURAL COLLABORATION (ONGOING); ARTIST ENDOWED FOUNDATION ANNUAL FORUM (OCT 2024); SUPPORT TO A CONSORTIUM OF ARTIST ENDOWED FOUNDATION PILOT PROGRAM FOR INTERNS AND FELLOWS IN THE ARTS. THE FOUNDATION BOARD AND STAFF HOSTED A SPRING SALON IN WASHINGTON, DC INCLUDED A TALK BY SCHOLAR LESLIE KING HAMMOND, AND ART AUCTION WITH N'NAMDI GALLERY (JUNE 8, 2024); ATTENDED CONFERENCE BLACK PORTRAITURE (VENICE APRIL 20-21, 2024); REPRESENTED AT GROUP BY UNIT GALLERY IN VENICE, ITALY (APRIL 2024); THE FOUNDATION STAFF AND BOARD MEMBERS PARTICIPATED IN THE LAUNCH OF A NEW DOCUMENTARY ON BEARDEN, AT MIAMI ART BASEL (DEC 1-4, 2024). THIS INCLUDED A SMALL EXHIBITION OF COLLAGE, AND A PANEL DISCUSSION WITH THE FILMMAKER, DEBORAH RILEY DRAPER, AND ARTIST TSCHABALALA SELF.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 21,750
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUPPORT TO SCHOLARS TO ENCOURAGE NEW EXHIBITIONS AND PUBLICATIONS ON THE ARTIST; MANAGED RESEARCH AND IMAGE REQUESTS; SUPPORT TO NEW DOCUMENTARY FILM ON BEARDEN. FOUNDATION REPRESENTATION AT SEVERAL CONFERENCES AND INITIATIVE MEETINGS, INCLUDING THE HARLEM SEMESTER INITIATIVE AT BARNARD COLLEGE- (ONGOING SPRING 2024) AND HARLEM CULTURAL COLLABORATION (ONGOING); ARTIST ENDOWED FOUNDATION ANNUAL FORUM (OCT 2024); SUPPORT TO A CONSORTIUM OF ARTIST ENDOWED FOUNDATION PILOT PROGRAM FOR INTERNS AND FELLOWS IN THE ARTS. THE FOUNDATION BOARD AND STAFF HOSTED A SPRING SALON IN WASHINGTON, DC INCLUDED A TALK BY SCHOLAR LESLIE KING HAMMOND, AND ART AUCTION WITH N'NAMDI GALLERY (JUNE 8, 2024); ATTENDED CONFERENCE BLACK PORTRAITURE (VENICE APRIL 20-21, 2024); REPRESENTED AT GROUP BY UNIT GALLERY IN VENICE, ITALY (APRIL 2024); THE FOUNDATION STAFF AND BOARD MEMBERS PARTICIPATED IN THE LAUNCH OF A NEW DOCUMENTARY ON BEARDEN, AT MIAMI ART BASEL (DEC 1-4, 2024). THIS INCLUDED A SMALL EXHIBITION OF COLLAGE, AND A PANEL DISCUSSION WITH THE FILMMAKER, DEBORAH RILEY DRAPER, AND ARTIST TSCHABALALA SELF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TALLAL I. ELBOUSHI CHAIRMAN FAMILY RELATIONSHIP COUSIN SHEILA ROHAN DIRECTOR FAMILY RELATIONSHIP AUNT IRIE HARRIS DIRECTOR FAMILY RELATIONSHIP COUSIN RONALD JACKSON DIRECTOR FAMILY RELATIONSHIP COUSIN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE CO-DIRECTOR, CHAIRMAN, AND TREASURER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER CONSULTANTS 12,425 484 23,272 DIRECT PROGRAM EXPENSES 13,582 1 8,688 TOTAL 26,007 485 31,960
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DECREASE IN DONOR RESTRICTED FUNDS -155,175
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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