Civic Intelligence

Liu Shiming Art Foundation

990 • Fiscal year 2023 • EIN 87-2425228

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileN/A
15 East 40th Street Floor 2New York, NY 10016

(917) 605-0098

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$320,610

Flat from 2023

Net Assets

Up

$319,792

Up $52,432 (+20%) from 2023

Liabilities

Down

$818

Down $52,432 (-98%) from 2023

Revenue And Expenses

Revenue

Down

$1,526,828

Down $23,885 (-1.5%) from 2023

Expenses

Down

$920,600

Down $60,657 (-6.2%) from 2023

Net Income

Up

$606,228

Up $36,772 (+6.5%) from 2023

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2021: $1,986Liabilities 2021: $0Net Assets 2021: $1,9862021Assets 2022: $169,823Liabilities 2022: $0Net Assets 2022: $169,8232022Assets 2023: $320,610Liabilities 2023: $818Net Assets 2023: $319,7922023Assets 2023: $320,610Liabilities 2023: $53,250Net Assets 2023: $267,3602023Assets 2024: $1,009,313Liabilities 2024: $736,769Net Assets 2024: $272,5442024

Highlighted filing

2023

Assets$320,610
Liabilities$818
Net Assets$319,792
Open 2023 Filing

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2021: $50,030Expenses 2021: $48,044Net Income 2021: $1,9862021Revenue 2022: $1,451,673Expenses 2022: $1,283,836Net Income 2022: $167,8372022Revenue 2023: $1,526,828Expenses 2023: $920,600Net Income 2023: $606,2282023Revenue 2023: $1,550,713Expenses 2023: $981,257Net Income 2023: $569,4562023Revenue 2024: $1,436,925Expenses 2024: $1,431,741Net Income 2024: $5,1842024

Highlighted filing

2023

Revenue$1,526,828
Expenses$920,600
Net Income$606,228
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$1,526,828
Mission and Program Overview

Mission

The liu shiming art foundation was founded in 2021 in pursuit of the preservation of the works of the acclaimed chinese artist liu shiming, as well as for the advancement of the arts, history and culture. The fund aims to support art students & emerging artists by encouraging the creation of all forms of art and multicultural study. The foundation's goals are to foster a greater understanding and appreciation of asian art forms and to contextualize them within a global purview. Engaging students and artists to conceptualize the creative process by focusing on this east/west perspective should be fundamental to the human experience.

The liu shiming art foundation honors the life and spirit of chinese artist liu shiming (1926-2010) by supporting future generations of artists and art historians, and by preserving and promoting the artistic legacy of liu shiming through exhibitions, research, and publications.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$169,823$305,231▲ $135,408
Land, Buildings, and Equipment, Net$0$15,379▲ $15,379
Total Assets$169,823$320,610▲ $150,787
Liabilities
Accounts Payable and Accrued Expenses-$818-
Total Liabilities$0$818▲ $818
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$169,823$319,792▲ $149,969
Total Net Assets Fund Balance$169,823$319,792▲ $149,969
Total Liabilities and Net Assets / Fund Balance$169,823$320,610▲ $150,787

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,379$5,063$20,442
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Geoffrey GlickActing PresidentPT$15,000$15,000

Board Members and Trustees

NameTitle
Zhiyong YangPresident
Si YangSecretary
Tracy Danqung XuTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$703,013
Program Service Revenue
$713,890
Investment Income
$0
Other Revenue
$109,925
All Other Contributions
$703,013
Change in Net Assets
$606,228

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,526,828
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$144,633
Total Revenue per Audited Statements
$1,671,461
Total Revenue per Form 990
$1,526,828
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$647,202
Other Expenses$273,398
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$410,270--$410,270
Foreign Grants$217,432--$217,432
Fees for Services Other$154,337--$154,337
Advertising$61,697--$61,697
Grants to Domestic Individuals$19,500--$19,500
Travel$16,299$1,226-$17,525
Office Expenses$6,791$8,546-$15,337
Other Expenses$14,201--$14,201
Fees for Services Legal-$3,500-$3,500
Depreciation Depletion$3,402--$3,402
Fees for Services Accounting-$3,399-$3,399
Total Functional Expenses$903,929$16,671$0$920,600

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,065,233
Expenses per Audited Statements$920,600
Total Expenses per Form 990$920,600
Expenses Not Reported on Form 990$144,633
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Oregon FoundationEugene, OR501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$108,150
The University of Texas at AustinAustin, TX501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$75,000
Ucincinnati FoundationCincinnati, OH501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$75,000
University of Nebraska FoundationLincoln, NE501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$74,120
Marist CollegePoughkeepsie, NY501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$63,000
Open DreamsSan Diego, CA501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$9,000
Bowdoin CollegeBrunswick, ME501 (c)(3)Scholarship Programs With Schools to Support Students in Arts and Cultural Studies.$6,000

International Summary

Offices
0
Employees
0
Spending
$217,432

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
East Asia and the PacificGrants to Recipients in Region.-00$214,432
Sub-saharan AfricaGrants to Recipients in Region.-00$3,000
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
No
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“The prepared form 990 is reviewed and approved by the members of the governing body before the return is filed with the irs.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request. The organization does not have a conflict of interest policy.”

Filing and Contact Details

Filer

Filer Name
Liu Shiming Art Foundation
EIN
87-2425228
Phone
9176050098
Address
15 EAST 40TH STREET FLOOR 2, NEW YORK, NY 10016

Signing Officer

Name
Puiking Hui
Title
Executive Director
Phone
9176050098
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Puiking Hui
Formed
2021
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
2

Preparer

Firm
Efpr Group Cpas Pllc
Address
6390 MAIN STREET SUITE 200, WILLIAMSVILLE, NY 14221
Preparer
David a Urban CPA
Phone
7166340700
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting : program service expenses 154,337. Management and general expenses 0. Fundraising expenses 0. Total expenses 154,337.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code (the code), therefore, no provision for income taxes is reflected in the financial statements. The foundation has been classified as a publicly supported organization that is not a private foundation under section 509(a) of the code. The foundation presently discloses or recognizes income tax positions based on management's estimate of whether it is reasonably possible or probable that a liability has been incurred for unrecognized income taxes. Management has concluded that the foundation has taken no uncertain tax positions that require adjustment in its financial statements. U.s. Forms 990 filed by the foundation are subject to examination by taxing authorities.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THE FOUNDATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE FOUNDATION PRESENTLY DISCLOSES OR RECOGNIZES INCOME TAX POSITIONS BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE THAT A LIABILITY HAS BEEN INCURRED FOR UNRECOGNIZED INCOME TAXES. MANAGEMENT HAS CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT IN ITS FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE FOUNDATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0920600
IRS990ScheduleD/TotalRevenuePerForm990Amt01526828
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01671461
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01065233
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0214432
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt13000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1SUB-SAHARAN AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0GRANTS TO RECIPIENTS IN REGION.
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1GRANTS TO RECIPIENTS IN REGION.
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0114132
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt1100300
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt1WIRE
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt10
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0PROVIDE SUPPORT AND FUNDING FOR ART STUDENTS
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1PROVIDE SUPPORT AND FUNDING FOR ART STUDENTS
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1EAST ASIA AND THE PACIFIC
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0217432
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0ONE OF THE PRIMARY PURPOSES OF THE LIU SHIMING ART FOUNDATION IS TO PROVIDE SUPPORT AND FUNDING FOR EMERGING ARTISTS, ESPECIALLY IN THE FIELD OF SCULPTURE. THE LIU SHIMING ART FOUNDATION PROVIDES SEED DONATIONS TO SET UP A LIU SHIMING SCHOLARS FUND AT UNIVERSITIES AND INSTITUTIONS AROUND THE WORLD. THE RECIPIENT INSTITUTIONS REWARD SCHOLARSHIPS ON AN ANNUAL BASIS TO THOSE WITH DEMONSTRATED FINANCIAL NEED, WHO SHOW PROMISE IN THE FIELD OF ART, HISTORY, AND MULTICULTURAL STUDIES. LIU SHIMING ART FOUNDATION SEEKS TO IDENTIFY COLLEGES AND UNIVERSITIES WITH A PREFERENCE FOR THOSE COLLEGES AND UNIVERSITIES WITH AN ART SCHOOL, SCULPTURE MAJOR OR CULTURAL STUDY DEPARTMENT FOR FUNDING OF THESE SCHOLARS FUNDS. ONCE FUNDS ARE GRANTED THE COLLEGE/UNIVERSITY WILL BE RESPONSIBLE FOR CHOOSING RECIPIENTS OF FUNDS AND THE FOUNDATION WILL REQUEST AND RETAIN FUND RECIPIENTS INFORMATION.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1EXPENSES ARE REPORTED ON CASH BASIS.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 3:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt0217432
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt019500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt010
IRS990ScheduleI/RecipientTable/CashGrantAmt06000
IRS990ScheduleI/RecipientTable/CashGrantAmt163000
IRS990ScheduleI/RecipientTable/CashGrantAmt275000
IRS990ScheduleI/RecipientTable/CashGrantAmt375000
IRS990ScheduleI/RecipientTable/CashGrantAmt474120
IRS990ScheduleI/RecipientTable/CashGrantAmt5108150
IRS990ScheduleI/RecipientTable/CashGrantAmt69000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501 (C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501 (C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501 (C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501 (C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501 (C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501 (C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt60
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BOWDOIN COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MARIST COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2THE UNIVERSITY OF TEXAS AT AUSTIN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3UCINCINNATI FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4UNIVERSITY OF NEBRASKA FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5UNIVERSITY OF OREGON FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6OPEN DREAMS
IRS990ScheduleI/RecipientTable/RecipientEIN0010215213
IRS990ScheduleI/RecipientTable/RecipientEIN1141442493
IRS990ScheduleI/RecipientTable/RecipientEIN2741587488
IRS990ScheduleI/RecipientTable/RecipientEIN3310896555
IRS990ScheduleI/RecipientTable/RecipientEIN4470379839
IRS990ScheduleI/RecipientTable/RecipientEIN5936015767
IRS990ScheduleI/RecipientTable/RecipientEIN6472525191
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt05400 COLLEGE STATION
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13399 NORTH RD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt29011 MOUNTAIN RIDGE SUITE 150
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO BOX 19970
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4PO BOX 82555
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt51720 E 13TH AVE 410
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6735 YARMOUTH COURT
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BRUNSWICK
IRS990ScheduleI/RecipientTable/USAddress/CityNm1POUGHKEEPSIE
IRS990ScheduleI/RecipientTable/USAddress/CityNm2AUSTIN
IRS990ScheduleI/RecipientTable/USAddress/CityNm3CINCINNATI
IRS990ScheduleI/RecipientTable/USAddress/CityNm4LINCOLN
IRS990ScheduleI/RecipientTable/USAddress/CityNm5EUGENE
IRS990ScheduleI/RecipientTable/USAddress/CityNm6SAN DIEGO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0ME
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3OH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4NE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5OR
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd6CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd004011
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd112601
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd278759
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd345219
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd468501
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd597403
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd692109
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ONE OF THE PRIMARY PURPOSES OF THE LIU SHIMING ART FOUNDATION IS TO PROVIDE SUPPORT AND FUNDING FOR EMERGING ARTISTS, ESPECIALLY IN THE FIELD OF SCULPTURE. THE LIU SHIMING ART FOUNDATION PROVIDES SEED DONATIONS TO SET UP A LIU SHIMING SCHOLARS FUND AT UNIVERSITIES AND INSTITUTIONS AROUND THE WORLD. THE RECIPIENT INSTITUTIONS REWARD SCHOLARSHIPS ON AN ANNUAL BASIS TO THOSE WITH DEMONSTRATED FINANCIAL NEED, WHO SHOW PROMISE IN THE FIELD OF ART, HISTORY, AND MULTICULTURAL STUDIES. LIU SHIMING ART FOUNDATION SEEKS TO IDENTIFY COLLEGES AND UNIVERSITIES WITH A PREFERENCE FOR THOSE COLLEGES AND UNIVERSITIES WITH AN ART SCHOOL, SCULPTURE MAJOR OR CULTURAL STUDY DEPARTMENT FOR FUNDING OF THESE SCHOLARS FUNDS. ONCE FUNDS ARE GRANTED THE COLLEGE/UNIVERSITY WILL BE RESPONSIBLE FOR CHOOSING RECIPIENTS OF FUNDS AND THE FOUNDATION WILL REQUEST AND RETAIN FUND RECIPIENTS INFORMATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PREPARED FORM 990 IS REVIEWED AND APPROVED BY THE MEMBERS OF THE GOVERNING BODY BEFORE THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONSULTING : PROGRAM SERVICE EXPENSES 154,337. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 154,337.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0169823
IRS990/TotalAssetsEOYAmt0320610
IRS990/TotalAssetsGrp/BOYAmt0169823
IRS990/TotalAssetsGrp/EOYAmt0320610
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0703013
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016671
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0903929
IRS990/TotalFunctionalExpensesGrp/TotalAmt0920600
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0818
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0818

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
$320,610
Liabilities
$818
Net assets
$319,792
Revenue
$1,526,828
Expenses
$920,600
Net income
$606,228
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.74$0.27$1.44$1.43$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.32$0.00$0.32$1.53$0.92$0.61
2023Detailed filing. Detailed filing data is available for this year.$0.32$0.05$0.27$1.55$0.98$0.57
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$1.45$1.28$0.17
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.05$0.05$0.00