Civic Intelligence

Worthless Foundation Inc.

EIN 83-4240559 • 501(c)3 • New York, NY

Pub. 78 EligibleNTEE A25

Profile

To promote the arts and social welfare by encouraging economic development in the sector of art and other creative endeavors, including sculpture, painting, and photography and performance, and to support new, aspiring, or emerging artists in various ways.

PO Box 11New York, NY 10013

worthlessstudios.org

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

60th percentile

9.1%

Higher net margin than 60% of similar nonprofits.

501(c)3 • $10M-$25M 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

5th percentile

-18%

Faster asset growth than 5% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

73rd percentile

21%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Assets

Down

$6,115,991

Down $2,895,515 (-32%) from 2023

Liabilities

Down

$18,832

Down $3,048,655 (-99%) from 2023

Net Assets

Up

$6,097,159

Up $153,140 (+2.6%) from 2023

Revenue

Up

$977,606

Up $244,197 (+33%) from 2023

Expenses

Down

$888,906

Down $1,221,177 (-58%) from 2023

Net Income

Up

$88,700

Up $1,465,374 (+106%) from 2023

Trend Graphs

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2019: $57,905Liabilities 2019: $28,287Net Assets 2019: $29,6182019Assets 2020: $757,758Liabilities 2020: $14,855Net Assets 2020: $742,9032020Assets 2021: $10,452,954Liabilities 2021: $3,399,370Net Assets 2021: $7,053,5842021Assets 2022: $9,141,108Liabilities 2022: $3,275,684Net Assets 2022: $5,865,4242022Assets 2023: $9,011,506Liabilities 2023: $3,067,487Net Assets 2023: $5,944,0192023Assets 2024: $6,115,991Liabilities 2024: $18,832Net Assets 2024: $6,097,1592024

Highlighted filing

2024

Assets$6,115,991
Liabilities$18,832
Net Assets$6,097,159

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2019: $165,435Expenses 2019: $135,817Net Income 2019: $29,6182019Revenue 2020: $860,043Expenses 2020: $146,758Net Income 2020: $713,2852020Revenue 2021: $6,977,240Expenses 2021: $635,168Net Income 2021: $6,342,0722021Revenue 2022: $662,563Expenses 2022: $1,741,558Net Income 2022: -$1,078,9952022Revenue 2023: $733,409Expenses 2023: $2,110,083Net Income 2023: -$1,376,6742023Revenue 2024: $977,606Expenses 2024: $888,906Net Income 2024: $88,7002024

Highlighted filing

2024

Revenue$977,606
Expenses$888,906
Net Income$88,700

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 17, 2026
Return Version
2024v5.5
Gross Receipts
$12,266,915
Mission and Program Overview

Mission

To promote the arts and social welfare by encouraging economic development in the sector of art and other creative endeavors, including sculpture, painting, and photography and performance, and to support new, aspiring, or emerging artists in various ways.

To promote the arts and provide support to new, aspiring, or emerging artists.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,555,931$5,347,183▲ $3,791,252
Pledges and Grants Receivable$1,111,779$668,951▼ $442,828
Cash and Non-Interest-Bearing Accounts$292,029$85,915▼ $206,114
Accounts Receivable$14,097--
Land, Buildings, and Equipment, Net$6,007,342$7,990▼ $5,999,352
Prepaid Expenses and Deferred Charges$30,328$5,952▼ $24,376
Total Assets$9,011,506$6,115,991▼ $2,895,515
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,840,962--
Accounts Payable and Accrued Expenses$226,525$18,832▼ $207,693
Total Liabilities$3,067,487$18,832▼ $3,048,655
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,864,264$5,368,607▲ $504,343
Net Assets With Donor Restrictions$1,079,755$728,552▼ $351,203
Total Net Assets Fund Balance$5,944,019$6,097,159▲ $153,140
Total Liabilities and Net Assets / Fund Balance$9,011,506$6,115,991▼ $2,895,515

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,574$32,867$39,441
Other Land Buildings$1,416$7,018$8,434
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Neil HamamotoFounder,president,creative DirectorFT$17,704$17,704

Board Members and Trustees

NameTitle
David HamamotoVice President
Allen MurabayashiBoard Member
Ann HarakawaBoard Member
Charlie JarvisBoard Member
Jordan HuelskampSecretary
Mike FormanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$312,467
Program Service Revenue
$55,388
Investment Income
$583,101
Other Revenue
$26,650
All Other Contributions
$151,517
Change in Net Assets
$88,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$610,928
Salaries, Compensation, and Employee Benefits$277,978
Total Fundraising Expense$81,207
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$151,352$27,146$17,509$196,007
Interest$127,347$39,915$22,808$190,070
Depreciation Depletion$67,257$21,080$12,046$100,383
Fees for Services Other$36,070$16,627$10,552$63,249
Payroll Taxes$39,037$7,002$4,516$50,555
Fees for Services Legal$1,676$37,895-$39,571
Advertising$35,965--$35,965
Office Expenses$3,366$25,846$401$29,613
All Other Expenses$10,720-$8,305$19,025
Fees for Services Accounting-$18,083-$18,083
Current Officers, Directors, Trustees, and Key Employees$15,737$983$983$17,703
Insurance-$14,511-$14,511
Other Employee Benefits$8,522$3,368$1,823$13,713
Other Expenses$9,884$17,627$2,264$9,884
Fees for Service Investment Mgmnt Fees-$8,587-$8,587
Total Functional Expenses$552,894$254,805$81,207$888,906
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
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, Part VI, Section A, Line 2

Neil hamamoto and david hamamoto have a family relationship.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the president and audit committee, and it provided to the board of directors prior to filing.

Form 990, Part VI, Section B, Line 12C

The foundation's conflict of interest policy requires directors to disclose any conflict of interest. To the extent there is a disclosure or the board otherwise becomes aware of a potential conflict, the foundation follows the procedures set forth in the policy.

Form 990, Part VI, Section C, Line 19

UPON WRITTEN REQUEST.

Filing and Contact Details

Filer

Filer Name
Worthless Foundation Inc
EIN
83-4240559
Phone
9175763999
Address
PO BOX 11, NEW YORK, NY 10013

Signing Officer

Name
Neil Hamamoto
Title
Founder, President & Creative Director
Phone
9175763999
Signed
2026-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Neil Hamamoto
Formed
2019
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
6
Employees
6
Volunteers
6

Preparer

Firm
Lutz and Carr Cpas Llp
Address
551 FIFTH AVENUE SUITE 400, NEW YORK, NY 10176
Preparer
Frederick Martens
Phone
2126972299
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Through 2024, the organization owned facilities that were used for artwork fabrication and other program activities. Following the sale of the building in july 2024, the organization has continued its programming in partnership with other community based organizations, and organizing the traveling exhibition for a project it previously presented in new york in 2022 - 2023. In 2025, a new artist in residence program will be launched, in collaboration with another partner organization, through which the organization will provide funding and technical assistance to artists who will have access to the partner organization's production team and fabrication facilities.

Amended Return

The 2024 form 990 has been amended to correct the number of employees reported on form w-3, which had been incorrectly reported as forms w-2g. Accordingly, the following line items have been revised: part i, line 5 part v, line 1b part v, line 2a in addition, the following information has been revised in this amended return: part iii, line 4a part v, line 1c part vii, column (b) part ix, lines 20, 22, and 25

Raw XML AppendixShowing 400 of 436 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.

Path#Value
IRS990/AccountantCompileOrReviewInd01
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0226525
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt018832
IRS990/AccountsReceivableGrp/BOYAmt014097
IRS990/AcctCompileOrReviewBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROMOTE THE ARTS AND PROVIDE SUPPORT TO NEW, ASPIRING, OR EMERGING ARTISTS.
IRS990/AdvertisingGrp/ProgramServicesAmt035965
IRS990/AdvertisingGrp/TotalAmt035965
IRS990/AllOtherContributionsAmt0151517
IRS990/AllOtherExpensesGrp/FundraisingAmt08305
IRS990/AllOtherExpensesGrp/ProgramServicesAmt010720
IRS990/AllOtherExpensesGrp/TotalAmt019025
IRS990/AmendedReturnInd0X
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd00
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum09175763999
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 11
IRS990/BooksInCareOfDetail/USAddress/CityNm0NEW YORK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd010013
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0292029
IRS990/CashNonInterestBearingGrp/EOYAmt085915
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/FundraisingAmt0983
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt0983
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt015737
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt017703
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0312467
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0583101
IRS990/CYOtherExpensesAmt0610928
IRS990/CYOtherRevenueAmt026650
IRS990/CYProgramServiceRevenueAmt055388
IRS990/CYRevenuesLessExpensesAmt088700
IRS990/CYSalariesCompEmpBnftPaidAmt0277978
IRS990/CYTotalExpensesAmt0888906
IRS990/CYTotalFundraisingExpenseAmt081207
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0977606
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/FundraisingAmt012046
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt021080
IRS990/DepreciationDepletionGrp/ProgramServicesAmt067257
IRS990/DepreciationDepletionGrp/TotalAmt0100383
IRS990/Desc0PROVIDING SPACE, MATERIALS, TECHNICAL ASSISTANCE, AND RESOURCES FOR ASPIRING ARTISTS OF ALL BACKGROUNDS TO REALIZE THEIR CREATIVE VISIONS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd01
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt01079755
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt0728552
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt06
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0552894
IRS990/FamilyOrBusinessRlnInd01
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt018083
IRS990/FeesForServicesAccountingGrp/TotalAmt018083
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt037895
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt01676
IRS990/FeesForServicesLegalGrp/TotalAmt039571
IRS990/FeesForServicesOtherGrp/FundraisingAmt010552
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt016627
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt036070
IRS990/FeesForServicesOtherGrp/TotalAmt063249
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt08587
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt08587
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt017704
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/PersonNm0NEIL HAMAMOTO
IRS990/Form990PartVIISectionAGrp/PersonNm1DAVID HAMAMOTO
IRS990/Form990PartVIISectionAGrp/PersonNm2MIKE FORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm3JORDAN HUELSKAMP
IRS990/Form990PartVIISectionAGrp/PersonNm4ANN HARAKAWA
IRS990/Form990PartVIISectionAGrp/PersonNm5CHARLIE JARVIS
IRS990/Form990PartVIISectionAGrp/PersonNm6ALLEN MURABAYASHI
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0FOUNDER,PRESIDENT,CREATIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02019
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0429530
IRS990/GainOrLossGrp/SecuritiesAmt0-722
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt0160950
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt07000000
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt04718117
IRS990/GrossReceiptsAmt012266915
IRS990/GrossRentsGrp/RealAmt026650
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt014511
IRS990/InsuranceGrp/TotalAmt014511
IRS990/InterestGrp/FundraisingAmt022808
IRS990/InterestGrp/ManagementAndGeneralAmt039915
IRS990/InterestGrp/ProgramServicesAmt0127347
IRS990/InterestGrp/TotalAmt0190070
IRS990/InvestmentIncomeGrp/ExclusionAmt0154293
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0154293
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt01555931
IRS990/InvestmentsPubTradedSecGrp/EOYAmt05347183
IRS990/IRPDocumentCnt028
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt039885
IRS990/LandBldgEquipBasisNetGrp/BOYAmt06007342
IRS990/LandBldgEquipBasisNetGrp/EOYAmt07990
IRS990/LandBldgEquipCostOrOtherBssAmt047875
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt06570470
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt04718839
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE THE ARTS AND SOCIAL WELFARE BY ENCOURAGING ECONOMIC DEVELOPMENT IN THE SECTOR OF ART AND OTHER CREATIVE ENDEAVORS, INCLUDING SCULPTURE, PAINTING, AND PHOTOGRAPHY AND PERFORMANCE, AND TO SUPPORT NEW, ASPIRING, OR EMERGING ARTISTS IN VARIOUS WAYS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt02840962
IRS990/NetAssetsOrFundBalancesBOYAmt05944019
IRS990/NetAssetsOrFundBalancesEOYAmt06097159
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0428808
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0428808
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt026650
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt026650
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt064440
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04864264
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt05368607
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/FundraisingAmt0401
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt025846
IRS990/OfficeExpensesGrp/ProgramServicesAmt03366
IRS990/OfficeExpensesGrp/TotalAmt029613
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01823
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03368
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt08522
IRS990/OtherEmployeeBenefitsGrp/TotalAmt013713
IRS990/OtherExpensesGrp/Desc0PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/Desc3SUPPLIES
IRS990/OtherExpensesGrp/FundraisingAmt02264
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt016135
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt117627
IRS990/OtherExpensesGrp/ProgramServicesAmt043786
IRS990/OtherExpensesGrp/ProgramServicesAmt12175
IRS990/OtherExpensesGrp/ProgramServicesAmt29884
IRS990/OtherExpensesGrp/TotalAmt043786
IRS990/OtherExpensesGrp/TotalAmt120574
IRS990/OtherExpensesGrp/TotalAmt217627
IRS990/OtherExpensesGrp/TotalAmt39884
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt017509
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt027146
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0151352
IRS990/OtherSalariesAndWagesGrp/TotalAmt0196007
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04516
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07002
IRS990/PayrollTaxesGrp/ProgramServicesAmt039037
IRS990/PayrollTaxesGrp/TotalAmt050555
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01111779
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0668951
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt030328
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05952
IRS990/PrincipalOfficerNm0NEIL HAMAMOTO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt055388
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt055388
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0443732
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt034426
IRS990/PYOtherExpensesAmt01334814
IRS990/PYOtherRevenueAmt0173104
IRS990/PYProgramServiceRevenueAmt082147
IRS990/PYRevenuesLessExpensesAmt0-1376674
IRS990/PYSalariesCompEmpBnftPaidAmt0775269
IRS990/PYTotalExpensesAmt02110083
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0733409
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt088700
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt026650
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt055388
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0312467
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0443732
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0327149
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt06803360
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02455425
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010342133
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0180943
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0230793
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt069131
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt015403
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0496274
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0209224
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.78970
IRS990ScheduleA/PublicSupportTotal170Amt08558901
IRS990ScheduleA/SubstantialContributorsTotAmt01783232
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0312467
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0443732
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0327149
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt06803360
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02455425
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010342133
IRS990ScheduleA/TotalSupportAmt010838407
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt06574
IRS990ScheduleD/EquipmentGrp/DepreciationAmt032867
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt039441
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01416
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07018
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08434
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07990
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THROUGH 2024, THE ORGANIZATION OWNED FACILITIES THAT WERE USED FOR ARTWORK FABRICATION AND OTHER PROGRAM ACTIVITIES. FOLLOWING THE SALE OF THE BUILDING IN JULY 2024, THE ORGANIZATION HAS CONTINUED ITS PROGRAMMING IN PARTNERSHIP WITH OTHER COMMUNITY BASED ORGANIZATIONS, AND ORGANIZING THE TRAVELING EXHIBITION FOR A PROJECT IT PREVIOUSLY PRESENTED IN NEW YORK IN 2022 - 2023. IN 2025, A NEW ARTIST IN RESIDENCE PROGRAM WILL BE LAUNCHED, IN COLLABORATION WITH ANOTHER PARTNER ORGANIZATION, THROUGH WHICH THE ORGANIZATION WILL PROVIDE FUNDING AND TECHNICAL ASSISTANCE TO ARTISTS WHO WILL HAVE ACCESS TO THE PARTNER ORGANIZATION'S PRODUCTION TEAM AND FABRICATION FACILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NEIL HAMAMOTO AND DAVID HAMAMOTO HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE PRESIDENT AND AUDIT COMMITTEE, AND IT PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION'S CONFLICT OF INTEREST POLICY REQUIRES DIRECTORS TO DISCLOSE ANY CONFLICT OF INTEREST. TO THE EXTENT THERE IS A DISCLOSURE OR THE BOARD OTHERWISE BECOMES AWARE OF A POTENTIAL CONFLICT, THE FOUNDATION FOLLOWS THE PROCEDURES SET FORTH IN THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE 2024 FORM 990 HAS BEEN AMENDED TO CORRECT THE NUMBER OF EMPLOYEES REPORTED ON FORM W-3, WHICH HAD BEEN INCORRECTLY REPORTED AS FORMS W-2G. ACCORDINGLY, THE FOLLOWING LINE ITEMS HAVE BEEN REVISED: PART I, LINE 5 PART V, LINE 1B PART V, LINE 2A IN ADDITION, THE FOLLOWING INFORMATION HAS BEEN REVISED IN THIS AMENDED RETURN: PART III, LINE 4A PART V, LINE 1C PART VII, COLUMN (B) PART IX, LINES 20, 22, AND 25
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5AMENDED RETURN
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0WORTHLESS FOUNDATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0WORTHLESS BRICKS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0862852879
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0OWNERSHIP OF PROPERTY (DISSOLVED IN 2024)
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt07 KNICKERBOCKER AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BROOKLYN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd011237
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09011506
IRS990/TotalAssetsEOYAmt06115991
IRS990/TotalAssetsGrp/BOYAmt09011506
IRS990/TotalAssetsGrp/EOYAmt06115991
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0312467
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt081207
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0254805
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0552894
IRS990/TotalFunctionalExpensesGrp/TotalAmt0888906
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03067487
IRS990/TotalLiabilitiesEOYAmt018832
IRS990/TotalLiabilitiesGrp/BOYAmt03067487
IRS990/TotalLiabilitiesGrp/EOYAmt018832
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05944019
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06097159
IRS990/TotalOtherCompensationAmt017704
IRS990/TotalProgramServiceExpensesAmt0552894
IRS990/TotalProgramServiceRevenueAmt055388
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0609751
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt055388
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0977606
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09011506
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06115991
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.