Civic Intelligence

Romare Bearden Foundation Inc.

990 • Fiscal year 2016 • EIN 30-0207085

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 13, 2017

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

50th percentile

0.06x

Higher debt load relative to assets than 50% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

86th percentile

0.64x

Higher debt load relative to revenue than 86% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Net Margin

22nd percentile

-12%

Higher net margin than 22% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

66th percentile

$84,169

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 40.0% of source-year revenue.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Asset Growth

22nd percentile

-5.0%

Faster asset growth than 22% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

92nd percentile

91%

Faster revenue growth than 92% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$2,159,553

Down $113,952 (-5.0%) from 2015

Net Assets

Down

$2,023,812

Down $25,086 (-1.2%) from 2015

Liabilities

Down

$135,741

Down $88,866 (-40%) from 2015

Revenue

Up

$210,474

Up $100,234 (+91%) from 2015

Expenses

Down

$235,560

Down $8,125 (-3.3%) from 2015

Net Income

Up

-$25,086

Up $108,359 (+81%) from 2015

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

2016

Assets$2,159,553
Liabilities$135,741
Net Assets$2,023,812

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

2016

Revenue$210,474
Expenses$235,560
Net Income-$25,086
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$442,354
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
Cash and Non-Interest-Bearing Accounts$11,520$60,667▲ $49,147
Accounts Receivable$5,897$5,897→ $0
Land, Buildings, and Equipment, Net$5,742$5,742→ $0
Savings and Temporary Cash Investments$11,563$464▼ $11,099
Total Assets$2,273,505$2,159,553▼ $113,952
Other Assets Total$2,238,783$2,086,783▼ $152,000
Liabilities
Accounts Payable and Accrued Expenses$126,609$107,743▼ $18,866
Other Liabilities$97,998$27,998▼ $70,000
Total Liabilities$224,607$135,741▼ $88,866
Net Assets / Fund Balance
Unrestricted Net Assets$2,048,898$2,023,812▼ $25,086
Total Net Assets Fund Balance$2,048,898$2,023,812▼ $25,086
Total Liabilities and Net Assets / Fund Balance$2,273,505$2,159,553▼ $113,952

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-director/FT$84,169$84,169
Johanne Bryant-reidCo-director/FT$57,769$57,769

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,565
Program Service Revenue
$12,533
Investment Income
$156,170
Other Revenue
$39,206
All Other Contributions
$2,565
Change in Net Assets
$-25,086
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$161,301
Other Expenses$74,259
Total Fundraising Expense$54,907
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$62,056$39,942$39,942$141,940
Office Expenses$9,453$5,545$6,033$21,031
Fees for Services Accounting-$15,350-$15,350
Insurance$7,821$6,261-$14,082
Payroll Taxes$5,136$3,852$3,852$12,840
Travel$6,702$64$351$7,117
Other Employee Benefits$2,609$1,956$1,956$6,521
Fees for Services Legal-$5,000-$5,000
All Other Expenses$297$1,866$156$2,319
Occupancy$527$151$828$1,506
Advertising--$720$720
Other Expenses$700$676$959$700
Fees for Services Other$70$20$110$200
Total Functional Expenses$99,970$80,683$54,907$235,560
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
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 ernest dow family relationship sheila rohan family relationship irie harris family relationship ron jackson family relationship

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

Form 990 is reviewed by the finance committee prior to filing.

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
2017-11-13

Organization Details

Principal Officer
Joseph J Johnson
Formed
2003
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
9
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 4D

Exhibited at art basel art fair in collaboration with dc moore gallery. Displayed romare bearden's works and promote the artist in the international art world and meeting with major collectors. Co-directors attended the porter colloquim held at howard university, an educational symposium.

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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDED PROFESSIONAL DEVELOPEMENT TO BALTIMORE CITY PUBLIC SCHOOL TEACHERS IN FEBRUARY 2016. THE FOUNDATION WAS COMMISSIONED TO PROVIDE TRAINING TO ART TEACHERS FROM THEIR CITY WIDE SCHOOL DISTRICT. THROUGH LECTURE AND DEMONSTRATION THE DIRECTOR GUIDED THE TEACHERS IN USING THE CURRICULUM.
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IRS990/ProgSrvcAccomActy3Grp/Desc0HOSTED THE 2016 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 COURTNEY BAXTER, 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.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0700
IRS990/ProgSrvcAccomActyOtherGrp/Desc0EXHIBITED AT ART BASEL ART FAIR IN COLLABORATION WITH DC MOORE GALLERY. DISPLAYED ROMARE BEARDEN'S WORKS AND PROMOTE THE ARTIST IN THE INTERNATIONAL ART WORLD AND MEETING WITH MAJOR COLLECTORS. CO-DIRECTORS ATTENDED THE PORTER COLLOQUIM HELD AT HOWARD UNIVERSITY, AN EDUCATIONAL SYMPOSIUM.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt097724
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt035315
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt048485
IRS990/PYOtherExpensesAmt086241
IRS990/PYOtherRevenueAmt026440
IRS990/PYRevenuesLessExpensesAmt0-133445
IRS990/PYSalariesCompEmpBnftPaidAmt0152444
IRS990/PYTotalExpensesAmt0243685
IRS990/PYTotalProfFndrsngExpnsAmt05000
IRS990/PYTotalRevenueAmt0110240
IRS990/ReconcilationRevenueExpnssAmt0-25086
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt011700
IRS990/RoyaltiesRevenueGrp/ExclusionAmt024649
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt024649
IRS990/SavingsAndTempCashInvstGrp/BOYAmt011563
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0464
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt021,052
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02565
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt035315
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0183166
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0120557
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0107046
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0448649
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt024649
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt025797
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt018819
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt056540
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt031816
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0157621
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt012533
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt04190
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt09172
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt07690
IRS990ScheduleA/OtherIncome170Grp/TotalAmt021052
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.70080
IRS990ScheduleA/PublicSupportPY170Pct00.72960
IRS990ScheduleA/PublicSupportTotal170Amt0448649
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02565
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt035315
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0183166
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0120557
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0107046
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0448649
IRS990ScheduleA/TotalSupportAmt0640179
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt012857
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt012857
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/CollectionUsedPreservationInd0X
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedLoanOrExchProgInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02086758
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt125
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT IN WORKS OF ART
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05742
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt055254
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt060996
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027998
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO ESTATE OF NANETTE BEARDEN
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05742
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02086783
IRS990ScheduleD/TotalLiabilityAmt027998
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXHIBITED AT ART BASEL ART FAIR IN COLLABORATION WITH DC MOORE GALLERY. DISPLAYED ROMARE BEARDEN'S WORKS AND PROMOTE THE ARTIST IN THE INTERNATIONAL ART WORLD AND MEETING WITH MAJOR COLLECTORS. CO-DIRECTORS ATTENDED THE PORTER COLLOQUIM HELD AT HOWARD UNIVERSITY, AN EDUCATIONAL SYMPOSIUM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TALLAL EL BOUSHI FAMILY RELATIONSHIP ERNEST DOW FAMILY RELATIONSHIP SHEILA ROHAN FAMILY RELATIONSHIP IRIE HARRIS FAMILY RELATIONSHIP RON JACKSON FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02273505
IRS990/TotalAssetsEOYAmt02159553
IRS990/TotalAssetsGrp/BOYAmt02273505
IRS990/TotalAssetsGrp/EOYAmt02159553
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02565
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt054907
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt080683
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt099970
IRS990/TotalFunctionalExpensesGrp/TotalAmt0235560
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0224607
IRS990/TotalLiabilitiesEOYAmt0135741
IRS990/TotalLiabilitiesGrp/BOYAmt0224607
IRS990/TotalLiabilitiesGrp/EOYAmt0135741
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02048898
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02023812
IRS990/TotalOtherProgSrvcExpenseAmt097724
IRS990/TotalProgramServiceExpensesAmt099970
IRS990/TotalProgramServiceRevenueAmt012533
IRS990/TotalReportableCompFromOrgAmt0141938
IRS990/TotalRevenueGrp/ExclusionAmt039206
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0168703
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0210474
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02273505
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02159553
IRS990/TravelGrp/FundraisingAmt0351
IRS990/TravelGrp/ManagementAndGeneralAmt064
IRS990/TravelGrp/ProgramServicesAmt06702
IRS990/TravelGrp/TotalAmt07117
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02048898
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02023812
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09

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