Civic Intelligence

Foundation for Global Arts

990 • Fiscal year 2021 • EIN 94-3165716

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 09, 2022

Organization Profile
1350 Treat Blvd Ste 400Walnut Creek, CA 94597

(925) 943-2248

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

7th percentile

0.00x

Higher debt load relative to revenue than 7% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

12th percentile

-9.6%

Higher net margin than 12% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

15th percentile

$30,200

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

46th percentile

8.5%

Faster asset growth than 46% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

12th percentile

-18%

Faster revenue growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$13,594,196

Up $1,070,107 (+8.5%) from 2020

Net Assets

Up

$13,591,415

Up $1,067,673 (+8.5%) from 2020

Liabilities

Up

$2,781

Up $2,434 (+701%) from 2020

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin12th percentile

Revenue

Down

$1,073,047

Down $237,810 (-18%) from 2020

Expenses

Up

$1,176,350

Up $159,418 (+16%) from 2020

Net Income

Down

-$103,303

Down $397,228 (-135%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $4,426,786Liabilities 2010: $544Net Assets 2010: $4,426,2422010Assets 2011: $4,100,509Liabilities 2011: $809Net Assets 2011: $4,099,7002011Assets 2012: $4,346,513Liabilities 2012: $669Net Assets 2012: $4,345,8442012Assets 2013: $5,029,242Liabilities 2013: $12,044Net Assets 2013: $5,017,1982013Assets 2014: $5,119,793Liabilities 2014: $14,244Net Assets 2014: $5,105,5492014Assets 2015: $5,034,196Liabilities 2015: $8,350Net Assets 2015: $5,025,8462015Assets 2016: $7,161,120Liabilities 2016: $14,357Net Assets 2016: $7,146,7632016Assets 2017: $10,914,186Liabilities 2017: $99,801Net Assets 2017: $10,814,3852017Assets 2018: $10,094,216Liabilities 2018: $1,404Net Assets 2018: $10,092,8122018Assets 2019: $10,815,554Liabilities 2019: $1,952Net Assets 2019: $10,813,6022019Assets 2020: $12,524,089Liabilities 2020: $347Net Assets 2020: $12,523,7422020Assets 2021: $13,594,196Liabilities 2021: $2,781Net Assets 2021: $13,591,4152021Assets 2022: $14,395,730Liabilities 2022: $5,148Net Assets 2022: $14,390,5822022Assets 2023: $15,382,843Liabilities 2023: $1,866Net Assets 2023: $15,380,9772023Assets 2024: $16,938,533Liabilities 2024: $89Net Assets 2024: $16,938,4442024

Highlighted filing

2021

Assets$13,594,196
Liabilities$2,781
Net Assets$13,591,415
Open 2021 Filing

Operations Trend

Revenue Growth12th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,798,4032010Revenue 2011: $1,125,571Expenses 2011: $1,333,693Net Income 2011: -$208,1222011Revenue 2012: $1,631,364Expenses 2012: $1,639,645Net Income 2012: -$8,2812012Revenue 2013: $1,297,500Expenses 2013: $1,124,158Net Income 2013: $173,3422013Revenue 2014: $1,199,271Expenses 2014: $1,135,035Net Income 2014: $64,2362014Revenue 2015: $1,240,499Expenses 2015: $1,221,485Net Income 2015: $19,0142015Revenue 2016: $4,002,748Expenses 2016: $2,105,512Net Income 2016: $1,897,2362016Revenue 2017: $4,317,929Expenses 2017: $1,609,296Net Income 2017: $2,708,6332017Revenue 2018: $1,497,117Expenses 2018: $1,827,884Net Income 2018: -$330,7672018Revenue 2019: $822,621Expenses 2019: $1,480,263Net Income 2019: -$657,6422019Revenue 2020: $1,310,857Expenses 2020: $1,016,932Net Income 2020: $293,9252020Revenue 2021: $1,073,047Expenses 2021: $1,176,350Net Income 2021: -$103,3032021Revenue 2022: $2,532,197Expenses 2022: $905,307Net Income 2022: $1,626,8902022Revenue 2023: $650,129Expenses 2023: $1,178,020Net Income 2023: -$527,8912023Revenue 2024: $1,167,137Expenses 2024: $843,911Net Income 2024: $323,2262024

Highlighted filing

2021

Revenue$1,073,047
Expenses$1,176,350
Net Income-$103,303
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 9, 2022
Return Version
2021v4.2
Gross Receipts
$1,073,047
Mission and Program Overview

Mission

Promote mutual understanding between peoples of the United States, Russia, and other countries; Promote cultural exchange and dialogue through the Russion National Orchestra, and other programs involving music and the arts.

Promote mutual understanding between peoples of the United States and other countries; Promote cultural exchange and dialogue through programs involving music and the arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,774,715$7,281,698▲ $506,983
Investments Other Securities$5,267,206$6,044,456▲ $777,250
Cash and Non-Interest-Bearing Accounts$453,548$239,522▼ $214,026
Inventories for Sale or Use$23,620$23,520▼ $100
Total Assets$12,524,089$13,594,196▲ $1,070,107
Other Assets Total$5,000$5,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$347$2,781▲ $2,434
Total Liabilities$347$2,781▲ $2,434
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,465,721$13,533,494▲ $1,067,773
Net Assets With Donor Restrictions$58,021$57,921▼ $100
Total Net Assets Fund Balance$12,523,742$13,591,415▲ $1,067,673
Total Liabilities and Net Assets / Fund Balance$12,524,089$13,594,196▲ $1,070,107

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$5,000--
Other Securities$6,044,456--
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kelly KaplanSecretaryPT$30,200$30,200
Kevin WalkerVice PresidentPT$24,000$24,000

Board Members and Trustees

NameTitle
Thomas FergusonChairman
Richard P WalkerPresident
Barbara F RoachDirector
Diana P KernDirector
Michael J PolenskeDirector
Shand S StephensDirector
David L TaubTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$915,596
Program Service Revenue
$8,382
Investment Income
$149,069
Other Revenue
$0
All Other Contributions
$915,596
Change in Net Assets
$-103,303

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,073,047
Revenue Not Reported on Form 990
$1,170,976
Total Revenue per Audited Statements
$2,244,023
Total Revenue per Form 990
$1,073,047
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,060,000
Other Expenses$62,150
Salaries, Compensation, and Employee Benefits$54,200
Total Fundraising Expense$15,330
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,060,000--$1,060,000
Current Officers, Directors, Trustees, and Key Employees$24,000$30,200-$54,200
Other Expenses$6,000-$15,330$15,330
Fees for Services Accounting-$14,700-$14,700
Occupancy-$13,500-$13,500
All Other Expenses$6,846--$6,846
Office Expenses$2,563$1,243-$3,806
Travel$1,968--$1,968
Total Functional Expenses$1,101,377$59,643$15,330$1,176,350

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,176,350
Total Expenses per Audited Statements$1,176,350
Total Expenses per Form 990$1,176,350
International Activity

International Summary

Spending
$1,060,000

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
Europe including Iceland and GreenlandProgram servicesPerformRecordings--$1,060,000
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
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

Officer directors etc family relationship Part VI line 2

“In November 2021, Kevin Walker was elected Vice President of the Foundation. His father, Richard Walker, is President of the Foundation.”

Form 990 governing body review Part VI line 11

“Form 990 Part VI Line 11BReviewed prior to filing by the President and Secretary/Bookkeeper of the Board, and by the Audit Committee.”

Conflict of interest policy compliance Part VI line 12C

“Form 990 Part VI Line 12CDuring each Board meeting, each individual shall be required to disclose to the Organization any personal interest which he or she may have in any matter pending before the Organization and shall refrain from participating in any decisions regarding such matters. Board members are not allowed to participate in any discussion or vote on any matter in which he or she or a member of his or her immediate family has a potential interest.”

CEO executive director top management comp Part VI line 15A

“Form 990 Part VI Line 15AThe Board approves CEO Executive Director and top management annual compensation using independent comparable data in its review process. Currently N/A.”

Other officer or key employee compensation Part VI line 15B

“Form 990 Part VI Line 15BThe Board approves other officer and key employee annual compensation using independent comparable data in its review process.”

Governing documents etc available to public Part VI line 19

“Form 990 Part VI Line 19No other documents are available to the public.”

Filing and Contact Details

Filer

Filer Name
Russian Arts Foundation
EIN
94-3165716
Address
1350 TREAT BLVD STE 400, WALNUT CREEK, CA 94597

Signing Officer

Name
Richard P Walker
Title
President
Phone
9259432248
Signed
2022-11-09
Discuss with paid preparer
Yes

Organization Details

Formed
1992
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
6
Employees
0

Preparer

Firm
John Courtney & Associates CPAs
Address
20980 Redwood Rd Ste 220, Castro Valley, CA 94546
Preparer
James Phillips CPA
Phone
6503416006
Supplemental Narrative

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

“Income Taxes - The Foundation is a California Nonprofit Organization. It is exempt from income taxes under Section 501(c)(3) if the Internal Revenue Code and 23701(D) of the California Revenue and Taxation Code. Management believes there is no unrelated business income. Management evaluated the Foundations tax positions and concluded that the Foundation has maintained its tax-exempt status and has taken no uncertain tax positions that require adjustment to the financial statements. Accordingly there is no provision for federal or state income taxes. Federal and state tax authorities generally have the right to examine and audit the previous years of tax returns filed. (Federal three years, California four years).”

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IRS990ScheduleA/TotalSupportAmt08526159
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt06044456
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Priv Inv Psp Int Cost
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueNotReportedAmt01170976
IRS990ScheduleD/RevenueSubtotalAmt01073047
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Income Taxes - The Foundation is a California Nonprofit Organization. It is exempt from income taxes under Section 501(c)(3) if the Internal Revenue Code and 23701(D) of the California Revenue and Taxation Code. Management believes there is no unrelated business income. Management evaluated the Foundations tax positions and concluded that the Foundation has maintained its tax-exempt status and has taken no uncertain tax positions that require adjustment to the financial statements. Accordingly there is no provision for federal or state income taxes. Federal and state tax authorities generally have the right to examine and audit the previous years of tax returns filed. (Federal three years, California four years).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
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IRS990ScheduleD/TotalBookValueSecuritiesAmt06044456
IRS990ScheduleD/TotalExpensesPerForm990Amt01176350
IRS990ScheduleD/TotalRevenuePerForm990Amt01073047
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02244023
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01176350
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt01060000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe including Iceland and Greenland
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0PerformRecordings
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program services
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IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0Cash Transfer
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0Cost Reimbursement
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IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalSpentAmt01060000
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0Grants are for the purpose of cost reimbursements. The Russian National Orchestra incurs costs and requests reimbursement from the Foundation. The Foundation monitors expenses and has the requisite documentation from the Orchestra to substantiate costs incurred prior to the issuance of grants.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1The Organization uses the accrual method of accounting. Additional Supplemental InformationTo fund recordings & concerts for Russian National Orchestra ... 1,060,000 ... cash.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Use of grant monitoring procedures (Part I, line 2)
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1Accounting Method (Part II, line 1)
IRS990ScheduleF/Total501c3OrgCnt01
IRS990ScheduleF/TotalOtherOrgCnt01
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IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0In November 2021, Kevin Walker was elected Vice President of the Foundation. His father, Richard Walker, is President of the Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 Part VI Line 11BReviewed prior to filing by the President and Secretary/Bookkeeper of the Board, and by the Audit Committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 Part VI Line 12CDuring each Board meeting, each individual shall be required to disclose to the Organization any personal interest which he or she may have in any matter pending before the Organization and shall refrain from participating in any decisions regarding such matters. Board members are not allowed to participate in any discussion or vote on any matter in which he or she or a member of his or her immediate family has a potential interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 Part VI Line 15AThe Board approves CEO Executive Director and top management annual compensation using independent comparable data in its review process. Currently N/A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 Part VI Line 15BThe Board approves other officer and key employee annual compensation using independent comparable data in its review process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form 990 Part VI Line 19No other documents are available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01073047
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013594196
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt01968
IRS990/TravelGrp/TotalAmt01968
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Richard P Walker
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum09259432248
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RUSSIAN ARTS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0RUSS
ReturnHeader/Filer/EIN0943165716
ReturnHeader/Filer/USAddress/AddressLine1Txt01350 TREAT BLVD STE 400

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,594,196
Liabilities
$2,781
Net assets
$13,591,415
Revenue
$1,073,047
Expenses
$1,176,350
Net income
-$103,303
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.9$0.00$16.9$1.17$0.84$0.32
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.4$0.00$15.4$0.65$1.18$0.53
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.4$0.01$14.4$2.53$0.91$1.63
2021Detailed filing. Detailed filing data is available for this year.$13.6$0.00$13.6$1.07$1.18$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.5$0.00$12.5$1.31$1.02$0.29
2019Summary only. Only limited summary data is available for this year.$10.8$0.00$10.8$0.82$1.48$0.66
2018Summary only. Only limited summary data is available for this year.$10.1$0.00$10.1$1.50$1.83$0.33
2017Summary only. Only limited summary data is available for this year.$10.9$0.10$10.8$4.32$1.61$2.71
2016Summary only. Only limited summary data is available for this year.$7.16$0.01$7.15$4.00$2.11$1.90
2015Summary only. Only limited summary data is available for this year.$5.03$0.01$5.03$1.24$1.22$0.02
2014Summary only. Only limited summary data is available for this year.$5.12$0.01$5.11$1.20$1.14$0.06
2013Summary only. Only limited summary data is available for this year.$5.03$0.01$5.02$1.30$1.12$0.17
2012Summary only. Only limited summary data is available for this year.$4.35$0.00$4.35$1.63$1.64$0.01
2011Summary only. Only limited summary data is available for this year.$4.10$0.00$4.10$1.13$1.33$0.21
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.43$0.00$4.43$1.80
Peer Organizations

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