Nonprofit · EIN 87-2425228
LIU SHIMING ART FOUNDATION
Tax-exempt · NEW YORK, NY 10016
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,436,925 | $1,431,741 | $5,184 | $1,009,313 | $736,769 | $272,544 |
| December 31, 2023 | 990 (amended) | $1,550,713 | $981,257 | $569,456 | $320,610 | $53,250 | $267,360 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,026,925
- Program service revenue
- $410,000
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $623,764
- Other salaries and wages
- $303,411
- Salaries, compensation and benefits (total)
- $335,925
- Professional fundraising fees
- $0
- Occupancy
- $81,142
- Travel
- $5,023
- Depreciation
- $5,752
- Program services (functional)
- $1,163,847
- Management and general (functional)
- $267,894
Balance sheet and other
- Total assets, start of year
- $320,610
- Total assets, end of year
- $1,009,313
- Total liabilities, end of year
- $736,769
- Net assets, end of year
- $272,544
- Land, buildings and equipment
- $19,925
- Net assets without donor restrictions
- $272,544
- Gross receipts
- $1,436,925
- Employees
- 6
- Volunteers
- 1
- Year formed
- 2021
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ZHIYONG YANG | PRESIDENT/CFO Trustee or director, Officer | 1 | $0 |
| SI YANG | SECRETARY Trustee or director, Officer | 1 | $0 |
| TRACY DANQUNG XU | TREASURER Trustee or director, Officer | 1 | $0 |
| PUIKING HUI | EXECUTIVE DIRECTOR Officer | 10 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GEOFFREY GLICK | ACTING PRESIDENT Officer | 10 | $15,000 |
| ZHIYONG YANG | PRESIDENT Trustee or director, Officer | 1 | $0 |
| SI YANG | SECRETARY Trustee or director, Officer | 1 | $0 |
| TRACY DANQUNG XU | TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 15 E 40TH ST, NEW YORK, NY 10016-0401
- Principal officer (990 for 2024)
- PUIKING HUI, 15 EAST 40TH STREET FLOOR 2, NEW YORK, NY 10016
- Signed the 990
- PUIKING HUI, EXECUTIVE DIRECTOR
- Phone
- (917) 605-0098
- Return prepared by
- EFPR GROUP CPAS PLLC
Mission
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.
Program accomplishments
- SUPPORTING FUTURE GENERATIONS OF ARTISTS AND ARTHISTORIANS: IN 2024, THE FOUNDATION PROVIDED SCHOLARSHIP FUNDING FORUNDERGRADUATE AND GRADUATE STUDENTS OF STUDIO ARTS OR ART HISTORY AT 13UNIVERSITIES LOCATED IN TWO STATES AND 11 COUNTRIES IN AFRICA, CANADA,EUROPE, THE MIDDLE EAST, AND OCEANIA. FUNDING INCLUDED PERMANENTENDOWMENTS, MULTI-YEAR GRANTS, AND ONE-TIME SCHOLARSHIP AWARDS. INADDITION, THE FOUNDATION PROVIDED SIX EARLY CAREER ARTISTS WITH INDIVIDUALGRANTS.Expenses $524,510 · grants $506,089
- PRESERVING & PROMOTING ARTISTIC LEGACY OF LIU SHIMING:IN 2024, THE FOUNDATION ORGANIZED TWO EXHIBITIONS AT THE LIU SHIMINGART GALLERY, SUPPORTED TWO ADDITIONAL EXHIBITIONS ORGANIZED INPARTNERSHIP WITH THE UNIVERSITY OF NEBRASKA AT LINCOLN AND QUEEN'SUNIVERSITY IN CANADA, AND PROVIDED FUNDING FOR A FUTURE EXHIBITION ATARIZONA STATE ART MUSEUM. IN ADDITION, THE FOUNDATION COMMISSIONED AMONOGRAPH AND AWARDED RESEARCH GRANTS TO INDEPENDENT SCHOLARSSTUDYING THE LIFE AND WORK OF LIU SHIMING.Expenses $639,337 · grants $117,675 · revenue $410,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-2425228
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A20)
- Assets (IRS master file)
- $1,009,313
- Income (IRS master file)
- $1,436,925
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,436,925 | $1,431,741 | $1,009,313 | XML |
| 990 | December 2023 | $1,550,713 | $981,257 | $320,610 | XML |
| 990 | December 2022 | $1,451,673 | $1,283,836 | $169,823 | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-2425228).
Questions about LIU SHIMING ART FOUNDATION
- What is the EIN of LIU SHIMING ART FOUNDATION?
- The employer identification number (EIN) of LIU SHIMING ART FOUNDATION is 87-2425228.
- Is LIU SHIMING ART FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to LIU SHIMING ART FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LIU SHIMING ART FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LIU SHIMING ART FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LIU SHIMING ART FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LIU SHIMING ART FOUNDATION?
- The 990 for the year ended December 31, 2024 names PUIKING HUI.
- Who are the officers and directors of LIU SHIMING ART FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does LIU SHIMING ART FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,436,925, expenses of $1,431,741 and total assets of $1,009,313 at year end.
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