Civic Intelligence

Silver Art Projects Inc.

990 • Fiscal year 2023 • EIN 84-3881363

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 04, 2024

Organization ProfileSILVERART.COM
7 World Trade CenterNew York, NY 10007

(212) 551-7324

Siviq Scores

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

Liabilities / Assets

95th percentile

1.28x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • NTEE A25 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

2.27x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • NTEE A25 • <$500k nonprofits • Source year 2023

Net Margin

4th percentile

-225%

Higher net margin than 4% of similar nonprofits.

2023 filings • NTEE A25 • <$500k nonprofits • Source year 2023

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE A25 • <$500k nonprofits • Source year 2023

Asset Growth

24th percentile

-30%

Faster asset growth than 24% of similar nonprofits.

2023 filings • NTEE A25 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

19th percentile

-36%

Faster revenue growth than 19% of similar nonprofits.

2023 filings • NTEE A25 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$289,273

Down $126,784 (-30%) from 2022

Net Assets

Down

-$82,103

Down $368,277 (-129%) from 2022

Liabilities

Up

$371,376

Up $241,493 (+186%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin4th percentile

Revenue

Down

$163,886

Down $92,114 (-36%) from 2022

Expenses

Down

$532,163

Down $32,520 (-5.8%) from 2022

Net Income

Down

-$368,277

Down $59,594 (-19%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$1.0M$500K$0-$500KAssets 2019: $1Liabilities 2019: $02019Assets 2020: $753,414Liabilities 2020: $14,961Net Assets 2020: $738,4532020Assets 2021: $633,203Liabilities 2021: $38,346Net Assets 2021: $594,8572021Assets 2022: $416,057Liabilities 2022: $129,883Net Assets 2022: $286,1742022Assets 2023: $289,273Liabilities 2023: $371,376Net Assets 2023: -$82,1032023Assets 2024: $178,266Liabilities 2024: $70,706Net Assets 2024: $107,5602024

Highlighted filing

2023

Assets$289,273
Liabilities$371,376
Net Assets-$82,103
Open 2023 Filing

Operations Trend

Revenue Growth19th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $1,108,832Expenses 2020: $370,379Net Income 2020: $738,4532020Revenue 2021: $320,752Expenses 2021: $464,348Net Income 2021: -$143,5962021Revenue 2022: $256,000Expenses 2022: $564,683Net Income 2022: -$308,6832022Revenue 2023: $163,886Expenses 2023: $532,163Net Income 2023: -$368,2772023Revenue 2024: $822,756Expenses 2024: $633,093Net Income 2024: $189,6632024

Highlighted filing

2023

Revenue$163,886
Expenses$532,163
Net Income-$368,277
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 4, 2024
Return Version
2023v5.1
Gross Receipts
$271,753
Mission and Program Overview

Mission

Silver art projects (sap) is dedicated to supporting emerging artists in new york city by providing a year-long residency to a cohort of 28 artists that receive sponsored studio space, mentorship, and stipends.

Supporting artists by providing sponsored studio space, mentorship, and stipends.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$304,308$165,635▼ $138,673
Cash and Non-Interest-Bearing Accounts$111,749$98,125▼ $13,624
Accounts Receivable$0$22,513▲ $22,513
Total Assets$416,057$289,273▼ $126,784
Other Assets Total$0$3,000▲ $3,000
Liabilities
Other Liabilities$65,609$320,439▲ $254,830
Accounts Payable and Accrued Expenses$64,274$50,937▼ $13,337
Total Liabilities$129,883$371,376▲ $241,493
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$286,174$-82,103▼ $368,277
Total Net Assets Fund Balance$286,174$-82,103▼ $368,277
Total Liabilities and Net Assets / Fund Balance$416,057$289,273▼ $126,784

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$165,635$616,793$782,428
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Cory SilversteinPresident
Robert J Pilon JrBoard Member
Tal KerretBoard Member
Dino FuscoDirector
Eric WidingDirector
Rana FloridaDirector
Reginald BrowneDirector
Jeffrey ScottSecretary, Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$201,900
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-38,014
All Other Contributions
$140,214
Change in Net Assets
$-368,277

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art1$3,000Cost
Total Noncash Contributions1$3,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$163,886
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$366,388
Total Revenue per Audited Statements
$530,274
Total Revenue per Form 990
$163,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$257,226
Other Expenses$249,737
Total Fundraising Expense$27,275
Grants and Similar Amounts Paid$25,200
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$130,631$65,316$21,772$217,719
Depreciation Depletion$136,042$2,631-$138,673
Fees for Services Other$27,198$40,203-$67,401
Grants to Domestic Individuals$25,200--$25,200
Other Employee Benefits$12,906$6,453$2,151$21,510
Fees for Services Accounting-$18,616-$18,616
Payroll Taxes$10,798$5,399$1,800$17,997
Advertising$4,832$2,416$805$8,053
Insurance$4,260$82-$4,342
Other Expenses$4,378$4,273$730$4,273
Information Technology-$675-$675
Office Expenses-$390-$390
Travel--$17$17
Total Functional Expenses$356,245$148,643$27,275$532,163

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$898,551
Expenses per Audited Statements$532,163
Total Expenses per Form 990$532,163
Expenses Not Reported on Form 990$366,388
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$107,867
Fundraising Gross Income$69,853
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$111,539$69,853$29,975$39,878
Other$20,000-$1,193-
Total Events$131,539$69,853$107,867$-38,014
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 Related Party, Net$320,439
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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 B, Line 11B

“A draft of form 990 is reviewed and approved by the board prior to filing.”

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

“Board members are required to disclose any conflicts of interest on an annual basis and as potential conflicts arise.”

Form 990, Part VI, Section B, Line 15

“The organization's top management official is not compensated.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, form 990 and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Silver Art Projects Inc
EIN
84-3881363
Phone
2125517324
Address
7 WORLD TRADE CENTER, NEW YORK, NY 10007

Signing Officer

Name
Dino Fusco
Title
Board Member
Phone
2125517324
Signed
2024-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dino Fusco
Formed
2019
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
5
Volunteers
29

Preparer

Firm
Cbiz Advisors LLC
Address
10 MELVILLE PARK ROAD, MELVILLE, NY 11747-3146
Preparer
Mary Ann Mendel
Phone
6314144000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting expense: program service expenses 27,198. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,198. Audit fees: program service expenses 0. Management and general expenses 40,203. Fundraising expenses 0. Total expenses 40,203.”

FORM 990, PART XII, LINE 2C:

“The process is unchanged from the prior year.”

Financial Statement Notes

PART III, LINE 4:

“Work of art held in storage.”

PART X, LINE 2:

“The organization recognizes and measures its unrecognized tax positions and assesses the likelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances, and information available at the end of each period. The measurement of unrecognized tax positions is adjusted when new information is available, or when an event occurs that requires a change. Interest and penalties associated with unrecognized tax positions, if any, would be classified as interest expense and additional income taxes, respectively, in the statements of activities. The organization did not identify any uncertain tax positions for the years ended december 31, 2023 and 2022. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any periods pending or in progress.”

Raw XML AppendixShowing 400 of 439 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/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt064274
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt050937
IRS990/AccountsReceivableGrp/BOYAmt00
IRS990/AccountsReceivableGrp/EOYAmt022513
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0SUPPORTING ARTISTS BY PROVIDING SPONSORED STUDIO SPACE, MENTORSHIP, AND STIPENDS.
IRS990/AdvertisingGrp/FundraisingAmt0805
IRS990/AdvertisingGrp/ManagementAndGeneralAmt02416
IRS990/AdvertisingGrp/ProgramServicesAmt04832
IRS990/AdvertisingGrp/TotalAmt08053
IRS990/AllOtherContributionsAmt0140214
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum02125517324
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt07 WORLD TRADE CENTER
IRS990/BooksInCareOfDetail/USAddress/CityNm0NEW YORK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd010007
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0111749
IRS990/CashNonInterestBearingGrp/EOYAmt098125
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd01
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContriRptFundraisingEventAmt061686
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0201900
IRS990/CYGrantsAndSimilarPaidAmt025200
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt0249737
IRS990/CYOtherRevenueAmt0-38014
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-368277
IRS990/CYSalariesCompEmpBnftPaidAmt0257226
IRS990/CYTotalExpensesAmt0532163
IRS990/CYTotalFundraisingExpenseAmt027275
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0163886
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd01
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt02631
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0136042
IRS990/DepreciationDepletionGrp/TotalAmt0138673
IRS990/Desc0SILVER ART PROJECTS PROGRAM INVITES 28 ARTISTS TO OCCUPY APPROXIMATLEY 38,000 SQUARE FEET OF LOWER MANHATTAN OFFICE SPACE DONATED BY A GENEROUS SPONSOR. THE SPACE IS OUTFITTED TO ACCOMMODATE INDIVIDUAL ARTIST STUDIO SPACES. SILVER ART PROJECTS PROVIDES THE SPACE FREE FOR 10 MONTHS TO ARTISTS, AS WELL AS PROFESSIONAL DEVELOPMENT PROGRAMMING, MENTORSHIP AND SERVICES TO ACCELERATE ARTISTS CAREERS THROUGH NETWORKING OPPORTUNITIES WITH ARTS PROFESSIONALS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt05
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0356245
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt018616
IRS990/FeesForServicesAccountingGrp/TotalAmt018616
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt040203
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt027198
IRS990/FeesForServicesOtherGrp/TotalAmt067401
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt115.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt54.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/PersonNm0TAL KERRET
IRS990/Form990PartVIISectionAGrp/PersonNm1CORY SILVERSTEIN
IRS990/Form990PartVIISectionAGrp/PersonNm2JEFFREY SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm3REGINALD BROWNE
IRS990/Form990PartVIISectionAGrp/PersonNm4RANA FLORIDA
IRS990/Form990PartVIISectionAGrp/PersonNm5DINO FUSCO
IRS990/Form990PartVIISectionAGrp/PersonNm6ERIC WIDING
IRS990/Form990PartVIISectionAGrp/PersonNm7ROBERT J PILON JR
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr02019
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingAmt061686
IRS990/FundraisingDirectExpensesAmt0107867
IRS990/FundraisingGrossIncomeAmt069853
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantAmt025200
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt025200
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt025200
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0271753
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0675
IRS990/InformationTechnologyGrp/TotalAmt0675
IRS990/InsuranceGrp/ManagementAndGeneralAmt082
IRS990/InsuranceGrp/ProgramServicesAmt04260
IRS990/InsuranceGrp/TotalAmt04342
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt026
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0616793
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0304308
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0165635
IRS990/LandBldgEquipCostOrOtherBssAmt0782428
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0SILVER ART PROJECTS (SAP) IS DEDICATED TO SUPPORTING EMERGING ARTISTS IN NEW YORK CITY BY PROVIDING A YEAR-LONG RESIDENCY TO A COHORT OF 28 ARTISTS THAT RECEIVE SPONSORED STUDIO SPACE, MENTORSHIP, AND STIPENDS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0286174
IRS990/NetAssetsOrFundBalancesEOYAmt0-82103
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-38014
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-38014
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0286174
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-82103
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt03000
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0390
IRS990/OfficeExpensesGrp/TotalAmt0390
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt03000
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02151
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt06453
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012906
IRS990/OtherEmployeeBenefitsGrp/TotalAmt021510
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS EXPENSES
IRS990/OtherExpensesGrp/Desc1BANK CHARGES
IRS990/OtherExpensesGrp/FundraisingAmt0730
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02189
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14273
IRS990/OtherExpensesGrp/ProgramServicesAmt04378
IRS990/OtherExpensesGrp/TotalAmt07297
IRS990/OtherExpensesGrp/TotalAmt14273
IRS990/OtherLiabilitiesGrp/BOYAmt065609
IRS990/OtherLiabilitiesGrp/EOYAmt0320439
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt021772
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt065316
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0130631
IRS990/OtherSalariesAndWagesGrp/TotalAmt0217719
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01800
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05399
IRS990/PayrollTaxesGrp/ProgramServicesAmt010798
IRS990/PayrollTaxesGrp/TotalAmt017997
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DINO FUSCO
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0256000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt032400
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0333109
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-308683
IRS990/PYSalariesCompEmpBnftPaidAmt0199174
IRS990/PYTotalExpensesAmt0564683
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0256000
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-368277
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0201900
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0256000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0320752
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01108832
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01887484
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt069853
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0491002
IRS990ScheduleA/SubstantialContributorsTotAmt01396482
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0201900
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0256000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0320752
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01108832
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01887484
IRS990ScheduleA/TotalSupportAmt01887484
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/ArtPublicExhibitionAmountsGrp/AssetsIncludedAmt03000
IRS990ScheduleD/ArtPublicExhibitionAmountsGrp/RevenuesIncludedAmt03000
IRS990ScheduleD/CollUsedLoanOrExchProgInd0X
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0366388
IRS990ScheduleD/DonatedServicesUseFcltsAmt0366388
IRS990ScheduleD/EquipmentGrp/BookValueAmt0165635
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0616793
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0782428
IRS990ScheduleD/ExpensesNotReportedAmt0366388
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0532163
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0320439
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY, NET
IRS990ScheduleD/RevenueNotReportedAmt0366388
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0163886
IRS990ScheduleD/SolicitedAssetsSaleInd01
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WORK OF ART HELD IN STORAGE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX POSITIONS AND ASSESSES THE LIKELIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES, AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGNIZED TAX POSITIONS IS ADJUSTED WHEN NEW INFORMATION IS AVAILABLE, OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX POSITIONS, IF ANY, WOULD BE CLASSIFIED AS INTEREST EXPENSE AND ADDITIONAL INCOME TAXES, RESPECTIVELY, IN THE STATEMENTS OF ACTIVITIES. THE ORGANIZATION DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY PERIODS PENDING OR IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0165635
IRS990ScheduleD/TotalExpensesPerForm990Amt0532163
IRS990ScheduleD/TotalLiabilityAmt0320439
IRS990ScheduleD/TotalRevenuePerForm990Amt0163886
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0530274
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0898551
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt061686
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt041686
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt020000
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0107867
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GALA
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0OTHER
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt076699
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt076699
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0111539
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt020000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0131539
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt069853
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt069853
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-38014
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt031168
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt029975
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt01193
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt025200
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0ARTIST STIPEND
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt027
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/Form8283ReceivedCnt00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990ScheduleM/WorksOfArtGrp/ContributionCnt01
IRS990ScheduleM/WorksOfArtGrp/MethodOfDeterminingRevenuesTxt0COST
IRS990ScheduleM/WorksOfArtGrp/NonCashCheckboxInd0X
IRS990ScheduleM/WorksOfArtGrp/NoncashContributionsRptF990Amt03000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ON AN ANNUAL BASIS AND AS POTENTIAL CONFLICTS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS NOT COMPENSATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTING EXPENSE: PROGRAM SERVICE EXPENSES 27,198. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,198. AUDIT FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,203. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,203.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS IS UNCHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0416057
IRS990/TotalAssetsEOYAmt0289273
IRS990/TotalAssetsGrp/BOYAmt0416057
IRS990/TotalAssetsGrp/EOYAmt0289273
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0201900
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt027275
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0148643
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0356245
IRS990/TotalFunctionalExpensesGrp/TotalAmt0532163
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0129883
IRS990/TotalLiabilitiesEOYAmt0371376
IRS990/TotalLiabilitiesGrp/BOYAmt0129883
IRS990/TotalLiabilitiesGrp/EOYAmt0371376
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0286174
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-82103
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0356245
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-38014
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0163886
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt029
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0416057
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0289273
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt017
IRS990/TravelGrp/TotalAmt017
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$289,273
Liabilities
$371,376
Net assets
-$82,103
Revenue
$163,886
Expenses
$532,163
Net income
-$368,277
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.18$0.07$0.11$0.82$0.63$0.19
2023Detailed filing. Detailed filing data is available for this year.$0.29$0.37$0.08$0.16$0.53$0.37
2022Detailed filing. Detailed filing data is available for this year.$0.42$0.13$0.29$0.26$0.56$0.31
2021Detailed filing. Detailed filing data is available for this year.$0.63$0.04$0.59$0.32$0.46$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.75$0.01$0.74$1.11$0.37$0.74
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00