Civic Intelligence

Black Rock Global Arts Foundation Inc

EIN 85-3261699 • 501(c)3 • Brooklyn, NY

Profile

The foundation seeks to support emerging artists and develop and support initiatives that connect artists and creative thinkers throughout the world with opportunities to collaborate, create, and live in locations of cultural significance on the african continent and throughout the african diaspora.

99 Richardson Street 2Brooklyn, NY 11211

n/A

Siviq Scores

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

Liabilities / Assets

49th percentile

0.03x

Higher debt load relative to assets than 49% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.02x

Higher debt load relative to revenue than 44% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2024

Net Margin

4th percentile

-115%

Higher net margin than 4% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

67th percentile

$55,000

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 9.8% of source-year revenue.

NTEE A • $500k-$1M nonprofits • Source year 2024

Asset Growth

3rd percentile

-60%

Faster asset growth than 3% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-73%

Faster revenue growth than 3% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$334,027

Up $313,709 (+1544%) from 2022

Liabilities

Down

$9,000

Down $134,409 (-94%) from 2022

Net Assets

Up

$325,027

Up $448,118 (+364%) from 2022

Revenue

Down

$561,508

Down $406,261 (-42%) from 2022

Expenses

Up

$1,209,261

Up $114,423 (+10%) from 2022

Net Income

Down

-$647,753

Down $520,684 (-410%) from 2022

Trend Graphs

Balance Sheet Trend

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

$400K$200K$0-$200KAssets 2021: $215,596Liabilities 2021: $0Net Assets 2021: $215,5962021Assets 2022: $20,318Liabilities 2022: $143,409Net Assets 2022: -$123,0912022Assets 2024: $334,027Liabilities 2024: $9,000Net Assets 2024: $325,0272024

Highlighted filing

2024

Assets$334,027
Liabilities$9,000
Net Assets$325,027

Operations Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2021: $1,127,264Expenses 2021: $911,668Net Income 2021: $215,5962021Revenue 2022: $967,769Expenses 2022: $1,094,838Net Income 2022: -$127,0692022Revenue 2024: $561,508Expenses 2024: $1,209,261Net Income 2024: -$647,7532024

Highlighted filing

2024

Revenue$561,508
Expenses$1,209,261
Net Income-$647,753

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$992,769
Mission and Program Overview

Mission

The foundation seeks to support emerging artists and develop and support initiatives that connect artists and creative thinkers throughout the world with opportunities to collaborate, create, and live in locations of cultural significance on the african continent and throughout the african diaspora.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$211,619$0▼ $211,619
Cash and Non-Interest-Bearing Accounts$3,977$20,318▲ $16,341
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$215,596$-123,091▼ $338,687
Total Assets$215,596$20,318▼ $195,278
Liabilities
Other Liabilities$0$143,409▲ $143,409
Total Liabilities$0$143,409▲ $143,409
Net Assets / Fund Balance
Total Net Assets Fund Balance$215,596$-123,091▼ $338,687
Total Liabilities and Net Assets / Fund Balance$215,596$20,318▼ $195,278
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kehinde WileyPresident
Brian JacksonSecretary
Scott AndresenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$972,769
Program Service Revenue
$0
Investment Income
$-5,000
Other Revenue
$0
All Other Contributions
$524,783
Change in Net Assets
$-127,069
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$907,938
Other Expenses$186,900
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$907,938--$907,938
Travel$47,238$11,810-$59,048
Fees for Services Legal-$13,780-$13,780
Fees for Services Accounting-$13,475-$13,475
Advertising-$5,704-$5,704
Fees for Services Other$4,295$832-$5,127
Office Expenses$1,610$402-$2,012
All Other Expenses-$1,518-$1,518
Other Expenses$970$1,140-$1,140
Total Functional Expenses$1,029,158$65,680$0$1,094,838
International Activity

International Summary

Offices
1
Employees
44
Spending
$907,938

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-saharan AfricaGrants to Recipients Located in Region-144$907,938
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 Related Party$143,409
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 B, Line 11B

Black rock arts foundation inc made a draft copy of the return available to board members prior to filing the return.

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

The governing body regularly and consistently monitors and enforces compliance with this policy by reviewing annual conflict of interest statements and taking such other actions as necessary for effective oversight.

Form 990, Part VI, Section C, Line 19

The organization's governing documents and conflict of interest policies are available upon request.

Filing and Contact Details

Filer

Filer Name
Black Rock Global Arts Foundation Inc
EIN
85-3261699
Phone
2038627875
Address
99 RICHARDSON STREET 2, BROOKLYN, NY 11211

Signing Officer

Name
Kehinde Wiley
Title
President
Phone
2038627875
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kehinde Wiley
Formed
2020
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Anchin Block & Anchin Llp
Address
3 TIMES SQUARE, NEW YORK, NY 10036-7001
Preparer
Barry Lieberman
Phone
2128403456
Raw XML Appendix400 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.

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IRS990/GrossAmountSalesAssetsGrp/OtherAmt020000
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0BLACK ROCK GLOBAL ARTS FOUNDATION MEETS WITH BLACK ROCK SENEGAL (BRS) STAFF EACH DECEMBER TO REVIEW A PROPOSED ANNUAL BUDGET AND APPROVE APPROXIMATE MONTHLY NEEDS. FOUNDATION STAFF THEN MEET WITH BRS MONTHLY TO REVIEW THE UPCOMING MONTH'S PROJECTED BUDGET, TO ENSURE EXPENSES ALIGN WITH THE APPROVED ANNUAL BUDGET AND THAT ALL EXPENSES RELATE TO CHARITABLE PURPOSES. WE THEN SUBMIT GRANT FUNDS TO COVER THESE EXPENSES. BRS PROVIDES MONTHLY RECONCILIATIONS TO SUBSTANTIATE HOW FUNDS WERE EMPLOYED. AT YEAR END, BRS PROVIDES FINANCIAL STATEMENTS AND AN ANNUAL REPORT.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART III ACCOUNTING METHOD:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL CONFLICT OF INTEREST STATEMENTS AND TAKING SUCH OTHER ACTIONS AS NECESSARY FOR EFFECTIVE OVERSIGHT.
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03 TIMES SQUARE
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ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BARRY LIEBERMAN
ReturnHeader/ReturnTs02023-11-15T15:25:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEHINDE
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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