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New York BBB Wise Giving Report for
Studio Museum in Harlem

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
11/2016
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 African descent locally, nationally and internationally and for work inspired and influenced by Black culture. It is a site for dynamic exchange of ideas about art and society. "






Evaluation Conclusions
 

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




Programs
 

              
Founded in 1968, The Studio Museum in Harlem has earned recognition for its catalytic role in promoting the works of artists of African descent. The Museum’s Artist-in-Residence program has supported over 100 graduates who have gone on to establish highly-regarded careers, including Chakaia Booker, David Hammons, Kerry James Marshall, Julie Mehretu, Wangechi Mutu, Mickalene Thomas and Kehinde Wiley. A wide variety of Education and Public Programs bring art alive for the public through lectures, dialogues, performances and on-site and off-site interpretive programs. Museum exhibitions expand personal, public and academic understanding of modern and contemporary art and broaden the scope of art historical literature through the production of catalogues.



Governance
 

              
Chief Executive Officer:
Ms. Thelma Golden, Director and Chief Curator
Compensation*:
$240,000
Chair of the Board:
Mr. Raymond J. McGuire
Chair's Profession / Business Affiliation:
Citi, Global Investment Banking
Board Size:
23
Paid Staff Size:
56



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




Fund Raising
 

              
Method(s) Used:


Direct Mail Appeals, Invitations To Fundraising Events, Grant Proposals, Internet.
Fund raising costs were 13.5% of related contributions. (Related contributions, which totaled $8,879,306, 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, 2014.

Source of Funds  

Contributions

$6,334,471

Fundraising events

1,818,239

City of NY Dept. of Cultural Affairs

856,885

Investment returns

473,241

Rental

458,667

Other Government grants

336,460

Museum sales

188,031

Other

150,997

Membership fees

81,514

Less Direct costs of events

(466,749)

Total Income

$10,231,756

Program Expenses  

Exhibitions

$1,574,854

Education and Public Programs

1,454,580

Curatorial

1,071,481
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses
Other Expenses

Total expenses

Income in Excess of Expenses

4,100,915
1,196,289
539,801
221,319

$6,058,324

$4,173,432




Uses of Funds as a % of Total Expenses


Programs: 68%  Fund Raising: 20%  Administrative 9%  Other Expenses: 4%
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $10,430,186
Ending net assets 14,603,618
Total liabilities 2,388,098

Total assets

$16,991,716






 

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This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.