Civic Intelligence

Romare Bearden Foundation Inc.

990 • Fiscal year 2015 • EIN 30-0207085

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 11, 2016

2214 Frederick Douglass Blvd 235New York, NY 10026

(212) 665-9550

Siviq Scores

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

Liabilities / Assets

58th percentile

0.10x

Higher debt load relative to assets than 58% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

2.04x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Net Margin

3rd percentile

-121%

Higher net margin than 3% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

61st percentile

$75,600

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 68.6% of source-year revenue.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Assets

$2,273,505

No earlier filing loaded for comparison.

Net Assets

$2,048,898

No earlier filing loaded for comparison.

Liabilities

$224,607

No earlier filing loaded for comparison.

Revenue

$110,240

No earlier filing loaded for comparison.

Expenses

$243,685

No earlier filing loaded for comparison.

Net Income

-$133,445

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$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

2015

Assets$2,273,505
Liabilities$224,607
Net Assets$2,048,898

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2015

Revenue$110,240
Expenses$243,685
Net Income-$133,445
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 11, 2016
Return Version
2015v2.1
Gross Receipts
$185,340
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
Prepaid Expenses and Deferred Charges$14,362--
Savings and Temporary Cash Investments$13,559$11,563▼ $1,996
Cash and Non-Interest-Bearing Accounts$16,488$11,520▼ $4,968
Accounts Receivable$9,854$5,897▼ $3,957
Land, Buildings, and Equipment, Net$2,651$5,742▲ $3,091
Total Assets$2,315,672$2,273,505▼ $42,167
Other Assets Total$2,258,758$2,238,783▼ $19,975
Liabilities
Accounts Payable and Accrued Expenses$41,202$126,609▲ $85,407
Other Liabilities$83,998$97,998▲ $14,000
Total Liabilities$125,200$224,607▲ $99,407
Net Assets / Fund Balance
Unrestricted Net Assets$2,190,472$2,048,898▼ $141,574
Total Net Assets Fund Balance$2,190,472$2,048,898▼ $141,574
Total Liabilities and Net Assets / Fund Balance$2,315,672$2,273,505▼ $42,167

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,742$55,254-
Other Assets Org$25--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Diedra Harris-kelleyCo-directorFT$75,600$75,600
Johanne Bryant-reidCo-director/FT$62,307$62,307

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$35,315
Program Service Revenue
$0
Investment Income
$48,485
Other Revenue
$26,440
All Other Contributions
$32,155
Change in Net Assets
$-133,445
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$152,444
Other Expenses$86,241
Total Fundraising Expense$60,229
Professional Fundraising Fees$5,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$57,821$40,043$40,043$137,907
Office Expenses$8,960$2,191$10,127$21,278
Fees for Services Accounting-$17,739-$17,739
Insurance$9,044$7,486-$16,530
Payroll Taxes$4,167$3,125$3,125$10,417
Fees for Services Other$5,610--$5,610
All Other Expenses$2,978$2,247$266$5,491
Fees for Services Professional Fundraising--$5,000$5,000
Other Employee Benefits$1,648$1,236$1,236$4,120
Other Expenses$1,118$784-$1,902
Advertising$275$79$432$786
Travel$537--$537
Conferences and Meetings$87$150-$237
Total Functional Expenses$104,811$78,645$60,229$243,685
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$5,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Consignment Advance$70,000
Due to Estate of Nanette Bearden$27,998
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
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 el boushi family relationship sheila rohan family relationship ernest dow family relationship irie harris family relationship

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

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

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

Signing Officer

Name
Johanne Bryant-reid
Title
Co-director/officer
Phone
2126659550
Signed
2016-11-11

Organization Details

Principal Officer
Joseph J Johnson
Formed
2003
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
8
Employees
2

Preparer

Firm
Linda a Hamilton CPA Pllc
Address
555 FIFTH AVE FL 15, NEW YORK, NY 10017
Preparer
Linda Hamilton CPA
Phone
2128502521
Supplemental Narrative

Additional Explanations

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

Strengthened their critical thinking abilities. This year we were also able to take advantage of a special romare bearden exhibition installed at the wallach gallery at columbia (nov. 2014-march 2015)

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

-assisted with the development of educational programs around the columbia university stop of the touring exhibition: romare bearden: a black odyssey (january - march 14, 2015) the foundation was paid by columbia university to assist with training, and payments for the teaching artists that participated in their school program. -baltimore planning meeting for series of educator workshops. Consulted with officials of the baltimore city schools preparing to integrate the bearden foundation curriculum into their program. Developed plan for educator workshops to be provided by the bearden foundation (performed feb 2016), and facilitated the processing of 200 curriculum kits to the school district. -professional development at thurgood marshall academy school, performed by foundation director on sept 28- assisted group of classroom teachers with preparation of a special school-wide focus on romare bearden, and facilitated procurement of ten curriculum kits. Co-directors participation in the artist endowed foundations leadership forum (october 2015) - developed presentations of the newly organized archives, as a way of informing on the contents and value- in 2014 we secured a grant to formally organize the some 15 linear ft. Of materials that make up the foundation's bearden archive. In 2015 we began discussions with potential partners that could help us take the archives to the next level- digitization, and integration into a larger archives platform that will the materials more publicly accessible. - hosted the 2014-15 st. Louis museum of art (slam) fellow. For a two-week internship in new york city, the foundation lodged and hosted the slam romare bearden graduate minority fellow (april). The co-directors scheduled meetings and projects with ms. Jordia benjamin, who researched several ideas for exhibitions and merchandise from the archives, and visits to new york institutions -moma archives, nypl schomburg center for research, and the studio museum in harlem. - participation as partner institution of barnard university's "harlem semester". Co- director harris-kelley taught a semester length course on romare bearden in harlem, and acted as the partner institution liaison to the initiative committee. Student's benefitted from the resources of the foundation through lectures, tours, and presentation of archival materials in the classroom. (january - may 2015)

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IRS990/ProgSrvcAccomActyOtherGrp/Desc0-ASSISTED WITH THE DEVELOPMENT OF EDUCATIONAL PROGRAMS AROUND THE COLUMBIA UNIVERSITY STOP OF THE TOURING EXHIBITION: ROMARE BEARDEN: A BLACK ODYSSEY (JANUARY - MARCH 14, 2015) THE FOUNDATION WAS PAID BY COLUMBIA UNIVERSITY TO ASSIST WITH TRAINING, AND PAYMENTS FOR THE TEACHING ARTISTS THAT PARTICIPATED IN THEIR SCHOOL PROGRAM. -BALTIMORE PLANNING MEETING FOR SERIES OF EDUCATOR WORKSHOPS. CONSULTED WITH OFFICIALS OF THE BALTIMORE CITY SCHOOLS PREPARING TO INTEGRATE THE BEARDEN FOUNDATION CURRICULUM INTO THEIR PROGRAM. DEVELOPED PLAN FOR EDUCATOR WORKSHOPS TO BE PROVIDED BY THE BEARDEN FOUNDATION (PERFORMED FEB 2016), AND FACILITATED THE PROCESSING OF 200 CURRICULUM KITS TO THE SCHOOL DISTRICT. -PROFESSIONAL DEVELOPMENT AT THURGOOD MARSHALL ACADEMY SCHOOL, PERFORMED BY FOUNDATION DIRECTOR ON SEPT 28- ASSISTED GROUP OF CLASSROOM TEACHERS WITH PREPARATION OF A SPECIAL SCHOOL-WIDE FOCUS ON ROMARE BEARDEN, AND FACILITATED PROCUREMENT OF TEN CURRICULUM KITS. CO-DIRECTORS PARTICIPATION IN THE ARTIST ENDOWED FOUNDATIONS LEADERSHIP FORUM (OCTOBER 2015) - DEVELOPED PRESENTATIONS OF THE NEWLY ORGANIZED ARCHIVES, AS A WAY OF INFORMING ON THE CONTENTS AND VALUE- IN 2014 WE SECURED A GRANT TO FORMALLY ORGANIZE THE SOME 15 LINEAR FT. OF MATERIALS THAT MAKE UP THE FOUNDATION'S BEARDEN ARCHIVE. IN 2015 WE BEGAN DISCUSSIONS WITH POTENTIAL PARTNERS THAT COULD HELP US TAKE THE ARCHIVES TO THE NEXT LEVEL- DIGITIZATION, AND INTEGRATION INTO A LARGER ARCHIVES PLATFORM THAT WILL THE MATERIALS MORE PUBLICLY ACCESSIBLE. - HOSTED THE 2014-15 ST. LOUIS MUSEUM OF ART (SLAM) FELLOW. FOR A TWO-WEEK INTERNSHIP IN NEW YORK CITY, THE FOUNDATION LODGED AND HOSTED THE SLAM ROMARE BEARDEN GRADUATE MINORITY FELLOW (APRIL). THE CO-DIRECTORS SCHEDULED MEETINGS AND PROJECTS WITH MS. JORDIA BENJAMIN, WHO RESEARCHED SEVERAL IDEAS FOR EXHIBITIONS AND MERCHANDISE FROM THE ARCHIVES, AND VISITS TO NEW YORK INSTITUTIONS -MOMA ARCHIVES, NYPL SCHOMBURG CENTER FOR RESEARCH, AND THE STUDIO MUSEUM IN HARLEM. - PARTICIPATION AS PARTNER INSTITUTION OF BARNARD UNIVERSITY'S "HARLEM SEMESTER". CO- DIRECTOR HARRIS-KELLEY TAUGHT A SEMESTER LENGTH COURSE ON ROMARE BEARDEN IN HARLEM, AND ACTED AS THE PARTNER INSTITUTION LIAISON TO THE INITIATIVE COMMITTEE. STUDENT'S BENEFITTED FROM THE RESOURCES OF THE FOUNDATION THROUGH LECTURES, TOURS, AND PRESENTATION OF ARCHIVAL MATERIALS IN THE CLASSROOM. (JANUARY - MAY 2015)
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STRENGTHENED THEIR CRITICAL THINKING ABILITIES. THIS YEAR WE WERE ALSO ABLE TO TAKE ADVANTAGE OF A SPECIAL ROMARE BEARDEN EXHIBITION INSTALLED AT THE WALLACH GALLERY AT COLUMBIA (NOV. 2014-MARCH 2015)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1-ASSISTED WITH THE DEVELOPMENT OF EDUCATIONAL PROGRAMS AROUND THE COLUMBIA UNIVERSITY STOP OF THE TOURING EXHIBITION: ROMARE BEARDEN: A BLACK ODYSSEY (JANUARY - MARCH 14, 2015) THE FOUNDATION WAS PAID BY COLUMBIA UNIVERSITY TO ASSIST WITH TRAINING, AND PAYMENTS FOR THE TEACHING ARTISTS THAT PARTICIPATED IN THEIR SCHOOL PROGRAM. -BALTIMORE PLANNING MEETING FOR SERIES OF EDUCATOR WORKSHOPS. CONSULTED WITH OFFICIALS OF THE BALTIMORE CITY SCHOOLS PREPARING TO INTEGRATE THE BEARDEN FOUNDATION CURRICULUM INTO THEIR PROGRAM. DEVELOPED PLAN FOR EDUCATOR WORKSHOPS TO BE PROVIDED BY THE BEARDEN FOUNDATION (PERFORMED FEB 2016), AND FACILITATED THE PROCESSING OF 200 CURRICULUM KITS TO THE SCHOOL DISTRICT. -PROFESSIONAL DEVELOPMENT AT THURGOOD MARSHALL ACADEMY SCHOOL, PERFORMED BY FOUNDATION DIRECTOR ON SEPT 28- ASSISTED GROUP OF CLASSROOM TEACHERS WITH PREPARATION OF A SPECIAL SCHOOL-WIDE FOCUS ON ROMARE BEARDEN, AND FACILITATED PROCUREMENT OF TEN CURRICULUM KITS. CO-DIRECTORS PARTICIPATION IN THE ARTIST ENDOWED FOUNDATIONS LEADERSHIP FORUM (OCTOBER 2015) - DEVELOPED PRESENTATIONS OF THE NEWLY ORGANIZED ARCHIVES, AS A WAY OF INFORMING ON THE CONTENTS AND VALUE- IN 2014 WE SECURED A GRANT TO FORMALLY ORGANIZE THE SOME 15 LINEAR FT. OF MATERIALS THAT MAKE UP THE FOUNDATION'S BEARDEN ARCHIVE. IN 2015 WE BEGAN DISCUSSIONS WITH POTENTIAL PARTNERS THAT COULD HELP US TAKE THE ARCHIVES TO THE NEXT LEVEL- DIGITIZATION, AND INTEGRATION INTO A LARGER ARCHIVES PLATFORM THAT WILL THE MATERIALS MORE PUBLICLY ACCESSIBLE. - HOSTED THE 2014-15 ST. LOUIS MUSEUM OF ART (SLAM) FELLOW. FOR A TWO-WEEK INTERNSHIP IN NEW YORK CITY, THE FOUNDATION LODGED AND HOSTED THE SLAM ROMARE BEARDEN GRADUATE MINORITY FELLOW (APRIL). THE CO-DIRECTORS SCHEDULED MEETINGS AND PROJECTS WITH MS. JORDIA BENJAMIN, WHO RESEARCHED SEVERAL IDEAS FOR EXHIBITIONS AND MERCHANDISE FROM THE ARCHIVES, AND VISITS TO NEW YORK INSTITUTIONS -MOMA ARCHIVES, NYPL SCHOMBURG CENTER FOR RESEARCH, AND THE STUDIO MUSEUM IN HARLEM. - PARTICIPATION AS PARTNER INSTITUTION OF BARNARD UNIVERSITY'S "HARLEM SEMESTER". CO- DIRECTOR HARRIS-KELLEY TAUGHT A SEMESTER LENGTH COURSE ON ROMARE BEARDEN IN HARLEM, AND ACTED AS THE PARTNER INSTITUTION LIAISON TO THE INITIATIVE COMMITTEE. STUDENT'S BENEFITTED FROM THE RESOURCES OF THE FOUNDATION THROUGH LECTURES, TOURS, AND PRESENTATION OF ARCHIVAL MATERIALS IN THE CLASSROOM. (JANUARY - MAY 2015)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TALLAL EL BOUSHI FAMILY RELATIONSHIP SHEILA ROHAN FAMILY RELATIONSHIP ERNEST DOW FAMILY RELATIONSHIP IRIE HARRIS FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-DIRECTOR/OFFICER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ROMARE BEARDEN FOUNDATION INC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerPersonGrp/PhoneNum02128502521
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LINDA HAMILTON CPA
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ReturnHeader/ReturnTs02016-11-13T15:21:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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