2024-05-16T05:58:47-04:00 2023-06-30 990 2022-07-01 131985627 AMERICAN FOLK ART MUSEUM % JASON BUSCH AMER 2125959533 2 LINCOLN SQUARE NEW YORK NY 10023 MARK EDEN CFO 2024-05-16 2022 2023-04-26 12:10:37Z JASON BUSCH 2 LINCOLN SQUARE NEW YORK NY 10023 10271715 false X WWW.FOLKARTMUSEUM.ORG X 1961 NY THE AMERICAN FOLK ART MUSEUM IS THE PREMIER INSTITUTION DEVOTED TO THE AESTHETIC APPRECIATION OF TRADITIONAL FOLK ART AND CREATIVE EXPRESSIONS OF CONTEMPORARY SELF-TAUGHT ARTISTS FROM THE UNITED STATES AND ABROAD. THE MUSEUM PRESERVES CONSERVES AND INTERPRETS A COMPREHENSIVE COLLECTION OF THE HIGHEST QUALITY WITH OBJECTS DATING FROM THE EIGHTEENTH CENTURY TO PRESENT. 27 27 68 35 0 0 4405242 7813668 332533 818227 405069 272325 586029 660880 5728873 9565100 0 0 0 0 2390983 2724154 0 0 754057 2130569 2642136 4521552 5366290 1207321 4198810 11749573 16954252 387618 407884 11361955 16546368 THE AMERICAN FOLK ART MUSEUM ENGAGES PEOPLE OF ALL BACKGROUNDS THROUGH ITS COLLECTIONS EXHIBITIONS PUBLICATION AND PROGRAMS AS THE LEADING FORUM SHAPING THE UNDERSTANDING AND APPRECIATION OF FOLK AND SELF-TAUGHT ART ACROSS TIMES AND SPACE. COMMITTED TO LEARNING AND SCHOLARSHIP AT THE HIGHEST LEVELS THE MUSEUM ENDEAVORS TO PROVIDE AN INCLUSIVE ACCESSIBLE AND WELCOMING ENVIRONMENT FOR ITS DIVERSE AUDIENCE AND TO FOSTER NEW AND DISTINCTIVE IDEAS. THE MUSEUM SEEKS TO ALWAYS ACT IN A SPIRIT OF EXCELLENCE AND INTEGRITY. false false 754130 0 99565 EXHIBITIONS AND COLLECTIONS - DEVELOPMENT AND PRESENTATION OF EXHIBITIONS AND PROGRAMS THAT PRESENT NEW IDEAS ARTISTS AND ARTWORKS THAT SHAPE AND DEFINE THE FIELD OF FOLK ART AND WORK OF SELF-TAUGHT ARTISTS. THE MUSEUM ALSO MAINTAINS AND PRESERVES A COMPREHENSIVE COLLECTION OF MORE THAN 7,000 OBJECTS; LOANS ARTWORKS TO OTHER INSTITUTIONS; ORGANIZES TRAVELING EXHIBITIONS AND MAKES ITS COLLECTION AVAILABLE FOR STUDY. 642551 0 696899 MUSEUM GIFT SHOP MAKES MERCHANDISE AVAILABLE TO THE PUBLIC INCLUDING HAND-MADE ITEMS ARTISTIC REPRODUCTIONS AND PUBLICATIONS THAT REFLECT THE MISSION AND VISION OF THE MUSEUM. 431429 0 192940 EDUCATION PROGRAMS THAT BENEFIT PRE-K THROUGH 12TH GRADE STUDENTS WITH SINGLE CLASS VISITS; MUSEUM-SCHOOL PARTNERSHIPS; TEEN DOCENT PROGRAMS AND SUMMER CAMP PROGRAMS; MONTHLY FAMILY PROGRAMS HANDS ON WORKSHOPS FOR ADULTS WEEKLY MUSIC EVENTS PROGRAMS FOR SENIORS WITH ALZHEIMER'S DISEASE TOURS FOR BLIND AND VISTORS WITH LOW VISION A YEAR-LONG PAID INTERNSHIP FOR LAGUARDIA COMMUNITY COLLEGE STUDENTS PROFESSIONAL DEVELOPMENT WORKSHOPS FOR NYC TEACHERS AND OPEN HOUSES FOR TEACHERS AND SCHOOL ADMINISTRATORS; AN EDUCATIONAL LIBRARY AND STUDY CENTER FOR THE BENEFIT OF SCHOLARS AND RESEARCHERS AND THE GENERAL PUBLIC BY APPOINTMENT; AND ADULT PROGRAMS THAT SERVE LIFE-LONG LEARNERS WITH A ROBUST PROGRAM OF LECTURES FILMS DOCENT TOURS SYMPOSIA AND SPECIAL EVENTS. IN-PERSON PROGRAMS WERE MOVED TO VIRTUAL PLATFORMS POSTPONED OR CANCELED DUE TO THE ONGOING COVID-19 GLOBAL PANDEMIC. 1734459 0 0 3562569 true true false false false false false true false true true true false true true false false false false false false false false false true false false false false true false false false false false false false false false false false false false false false false false true 45 0 true 68 true false false false false false false false 0 false false false false false X 27 27 true false false false false false false true true false false true true true true true true true false false NY X MARK EDEN - CFO 2125959533 47 29 32ND PLACE LONG ISLAND CITY NY 111012409 JASON T BUSCH DIRECTOR AND CEO 35.00 0 X 306069 0 18176 KARLEY A KLOPFENSTEIN DEPUTY DIRECTOR AND CHIEF DEVELOPMENT OFFICER 35.00 0 X 100703 0 18873 CHRISTOPHER GORMAN DEPUTY DIRECTOR AND CHIEF COMMUNICATIONS OFFICER 35.00 0 X 100423 0 2953 AUDREY HECKLER VICE PRESIDENT 1.00 0 X X 0 0 0 BARBARA L GORDON TRUSTEE 1.00 0 X 0 0 0 BRETT A ROBBINS TREASURER 1.00 0 X X 0 0 0 BRIAN DONNELLY TRUSTEE 1.00 0 X 0 0 0 EDWARD V BLANCHARD JR CHAIRMAN 1.00 0 X X 0 0 0 ELIZABETH V WARREN PRESIDENT 1.00 0 X X 0 0 0 GAIL WRIGHT SIRMANS TRUSTEE 1.00 0 X 0 0 0 JANE A SHALLAT TRUSTEE 1.00 0 X 0 0 0 KARIN FIELDING TRUSTEE 1.00 0 X 0 0 0 LAURA PARSONS TRUSTEE 1.00 0 X 0 0 0 LAWRENCE B BENENSON TRUSTEE 1.00 0 X 0 0 0 LESLIE SEEMAN TRUSTEE 1.00 0 X 0 0 0 LUCY C DANZIGER VICE PRESIDENT 1.00 0 X X 0 0 0 PETER RAPAPORT TRUSTEE 1.00 0 X 0 0 0 ROBERTA S TERKOWITZ SECRETARY 1.00 0 X X 0 0 0 BRUCE J WENDEL TRUSTEE 1.00 0 X 0 0 0 JULIA ALEXANDER TRUSTEE 1.00 0 X 0 0 0 LUC M VOLATIER TRUSTEE 1.00 0 X 0 0 0 SEOL PARK TRUSTEE 1.00 0 X 0 0 0 WILLET BRACKEN EVANS TRUSTEE 1.00 0 X 0 0 0 BEN Z COHEN TRUSTEE 1.00 0 X 0 0 0 ELLEN BROOKS TRUSTEE 1.00 0 X 0 0 0 CHRISTOPHER GIGIO TRUSTEE 1.00 0 X 0 0 0 LANA MASOR TRUSTEE 1.00 0 X 0 0 0 RAYMONDY THERMIDOR TRUSTEE 1.00 0 X 0 0 0 JOYCE B COWIN TRUSTEE 1.00 0 X 0 0 0 DAVID DELUCA TRUSTEE 1.00 0 X 0 0 0 507195 0 40002 3 false true false 0 0 0 0 343200 7470468 0 7813668 EXHIBITION RENTAL FEES 532000 101566 101566 0 0 DONATED SERVICES 900099 611986 611986 0 0 MEMBERSHIP 711300 104675 104675 0 0 0 0 0 0 0 0 0 0 0 0 0 0 818227 272154 0 0 272154 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 171 0 0 0 171 0 171 0 0 171 639977 0 64064 575913 0 361051 0 0 0 0 0 0 696899 642551 54348 54348 0 0 LICENSING 900099 17679 17679 0 0 OTHER INCOME 900099 12940 12940 0 0 0 0 0 0 0 0 0 0 30619 9565100 903194 0 633376 X 0 0 0 0 0 0 0 0 405790 71198 192935 141658 0 0 0 0 1856976 1431857 140241 284879 41980 27886 6181 7913 261067 173415 38440 49212 158341 105179 23314 29848 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 47392 0 47392 0 1188703 560237 512189 116277 18579 13999 980 3600 197299 177833 2365 17101 10382 10075 307 0 0 0 0 0 313913 254747 24912 34254 45781 13761 12969 19051 0 0 0 0 13037 2805 1399 8833 0 0 0 0 0 0 0 0 148407 123177 12615 12615 87639 76792 9038 1809 REPAIRS AND MAINTENANCE 149417 149417 0 0 CONSERVATION 32993 32993 0 0 SECURITY 104705 104705 0 0 MISCELLANEOUS 38218 22908 0 15310 245671 209585 24389 11697 5366290 3562569 1049666 754057 0 0 0 0 1084613 403413 172705 3923954 727085 685000 300550 698689 0 0 0 0 0 0 103299 121631 128959 211528 1965199 1499599 609530 465600 6361713 8179446 1251135 1255215 0 0 0 0 1009984 1009776 11749573 16954252 281758 358088 0 0 35982 35000 0 0 0 0 0 0 0 0 0 0 69878 14796 387618 407884 X 949335 1046560 10412620 15499808 11361955 16546368 11749573 16954252 4198810 944978 0 0 0 40625 X false false false X 3065147 3031178 3313211 4405242 6813668 20628446 0 0 0 0 0 0 0 0 0 0 0 0 3065147 3031178 3313211 4405242 6813668 20628446 4761332 15867114 168644 240856 263193 406974 272154 1351821 0 0 0 0 0 0 141620 172906 28711 22875 30619 396731 22376998 4087166 0.7091 0.8534 X Part II - Line 10 | Year:, Amount:, Description:| 2018, 141620, OTHER INCOME AMOUNT: $41,870; FUNDRAISING AMOUNT: $99,750;| 2019, 172906OTHER INCOME AMOUNT: $1,275; FUNDRAISING AMOUNT: $99,750; FOLK ART AMOUNT: $52,584; LICENSING AMOUNT: $19,297| 2020, 28711OTHER INCOME AMOUNT: $6,845; LICENSING AMOUNT: $21,866| 2021, 22875OTHER INCOME AMOUNT: $778; LICENSING AMOUNT: $22,097| 2022, 30619OTHER INCOME AMOUNT: $12,940; LICENSING AMOUNT: $17,679| RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 X X X X X EDUCATIONAL PROGRAMS false 4991954 0 623541 0 0 450000 5173028 5453087 50000 -511133 0 0 0 4991954 4559587 107572 1080828 0 0 294900 5453087 4733542 0 114645 0 0 288600 4559587 4531547 250000 205195 0 0 253200 4733542 0.138 0.862 0 true false 1315637 1050299 265339 608971 408710 200261 40590 40590 0 465600 HEDGE FUNDS 1255215 F 1255215 REQUEST HELD IN PERPETUAL TRUST 1009776 1009776 DEFERRED RENT 14796 14796 Part III, line 1a IN CONFORMITY WITH ACCOUNTING POLICIES GENERALLY FOLLOWED BY ART MUSEUMS THE COLLECTIONS WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION ARE NOT RECOGNIZED AS ASSETS. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. PROCEEDS FROM DE-ACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS. PROCEEDS FROM THE SALE OF COLLECTIONS ARE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. PURCHASES OF COLLECTION ITEMS IN THE AMOUNT OF $18,170 AND $3,680 WERE MADE DURING THE YEARS ENDED JUNE 30 2023 AND 2022 RESPECTIVELY AND ARE INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES. Part III, line 4 THE MUSEUM IS DEDICATED TO PRESERVING THE RICH FOLK ART HERITAGE OF AMERICA THROUGH THE PRESENTATION OF EXHIBITIONS EDUCATIONAL PROGRAMS AND PUBLICATIONS OF HIGHEST QUALITY. Part V, line 4 THE MUSEUM HAS INVESTMENT ASSETS WHICH ARE HELD IN PERPETUITY BY THIRD PARTY TRUSTEE. CONCERT 225893 0 225893 0 0 0 0 0 43920 AUCTION 300634 0 300634 0 0 0 0 0 20144 1 113450 0 113450 0 0 0 0 0 0 639977 0 639977 0 0 0 0 0 64064 64064 575913 X X X X X false false false false false false false false false JASON T BUSCH DIRECTOR AND CEO 281569 0 24500 0 0 0 7741 0 10435 0 324245 0 0 0 Part VI, Line 2 JOHN SHALLAT AND PETER RAPAPORT HAVE A FAMILY RELATIONSHIP. Part VI, Line 11b THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED BY MANAGEMENT AND THE AUDIT COMMITTEE AND DISTRIBUTED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW AND APPROVAL BEFORE FILING. Part VI, Line 12c BOARD MEMBERS AND MANAGEMENT ARE REQUIRED TO SIGN ANNUAL QUESTIONNAIRES DISCLOSING ANY CONFLICT OF INTEREST THAT COULD EXIST. MANAGEMENT REVIEWS THEM AND DETERMINES IF ANY CONFLICT EXISTS. Part VI, Line 15 THE DIRECTOR AND CEO HAS A CONTRACT THAT INCLUDES A COMPENSATION AGREEMENT. THERE IS A COMPENSATION COMMITTEE COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES. THE COMMITTEE AGREES ON THE COMPENSATION SECTION OF THE CONTRACT BASED UPON COMPARABILITY DATA OF OTHER NON-PROFIT AND MUSEUM DIRECTORS OF SIMILAR SIZED MUSEUMS. THIS IS THEN PRORATED FOR THE NEW YORK AREA BASED UPON DATA SURVEYS AND OTHER COMPARABILITY DATA. THE COMPENSATION FOR THE OTHER TOP MANAGEMENT AND OFFICERS BELOW THE DIRECTOR AND CEO IS DETERMINED BY THE DIRECTOR AND CEO BASED UPON ANNUAL REVIEWS AS WELL AS COMPARABILITY DATA OF SIMILAR POSITIONS IN OTHER NON-PROFITS AND MUSEUMS OF SIMILAR SIZE. THIS IS THEN PRORATED FOR THE NEW YORK AREA BASED UPON DATA SURVEYS AND OTHER COMPARABILITY DATA. Part VI, Line 19 GOVERNING DOCUMENTS CONFLICT OF INTEREST POLICY AND FNANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. Part III, Line 4d | Description:, Expense Amount:, Grants Amount:, Revenue Amount:| SUPPORT SERVICES, $1734459, $0, $0| Part XI, Line 9 | Description:, Explanation:, Amount:| CHANGE IN NET ASSETS, CHANGE IN VALUE OF BEQUEST, $40625| Part IV Line 11 | Explanation:| OTHER FEES: OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 560,237.; MANAGEMENT AND GENERAL EXPENSES: 512,189.; FUNDRAISING EXPENSES 116,277. TOTAL EXPENSES: 1,188,703 TOTAL OTHER FEES ON FORM 990 PART IX LINE 11G COL A 1,188,703 Part VI Line 19 | Explanation:| GOVERNING DOCUMENTS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. Part IV Line 12 | Explanation:| FORM 990 IS PREPARED BASED ON ALL INFORMATION AVAILABLE AT THE TIME OF FILING AND DRAFT FINANCIAL INFORMATION. ONCE MORE INFORMATION BECOMES AVAILABLE IT WILL BE AMENDED ACCORDINGLY.