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New York BBB Wise Giving Report for
Studio Museum in Harlem

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
11/2014
Name:
Studio Museum in Harlem
Address:
144 West 125th Street
New York, NY 10027
Phone:
212-864-4500
Year, State Incorporated:
1968, New York
Affiliates:
None
Stated Purpose:
" The Studio Museum is the nexus for artists of national and international African descent, and for work inspired by Black culture. Since its founding in 1968, it has been a site for the dynamic exchange of ideas about art and society. "






Evaluation Conclusions
 

              
Studio Museum in Harlem meets the 20 Standards for Charity Accountability.




Programs
 

              
The Studio Museum of Harlem focuses on contemporary and historical work in spacious galleries beautifully displaying an array of paintings, sculptures, and photographs. These exhibits reflect the history and evolution of changes of Harlem.



Governance
 

              
Chief Executive Officer:
Thelma Golden, Director and Chief Curator
Compensation*:
$201,384
Chair of the Board:
Raymond J. McGuire
Chair's Profession / Business Affiliation:
Managing Director, Co-Head, Global Investment Banking / Citigroup
Board Size:
12
Paid Staff Size:
53



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, invitations to fund raising events, grant proposals
Fund raising costs were 18% of related contributions. (Related contributions, which totaled $5,164,173, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on Studio Museum in Harlem's Audited Financial Statements for the fiscal year ended June 30, 2011.

Source of Funds  

Contributions

$2,660,821

Fundraising Events

1,796,830

City of NY Dept. of Cultural Affairs

914,846

Investment Income

491,856

Rental Income

459,811

Other Government Grants

222,717

Museum Sales

120,255

Other Income

88,954

Membership Fees

75,491

Less Direct Costs of Events

(431,041)

Total Income

$6,400,540

Program Expenses  

Program Services - Exhibitions

$1,569,582

Program Services - Education and Public Programs

1,189,756

Program Services - Curatorial

707,388
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

3,466,726
928,472
688,930

$5,084,128

$1,316,412




Uses of Funds as a % of Total Expenses


Programs: 68%  Fund Raising: 18%  Administrative 14% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $8,260,315
Ending net assets 9,576,727
Total liabilities 1,063,818

Total assets

$10,640,545






 

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