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Cycladic Art Foundation FY2022 filing

Tax-deductible

Woodbury, NY501(c)(3)Foundations & GrantmakersEIN 13-3863135Revenue $240K in FY2022

On file with the IRS60 Crossways Park Dr W Ste 301, 11797-2018 · Woodbury, NYTax-exempt since Jan 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To promote a greater understanding of Cycladic and ancient greek Art

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $144K a year · 40% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $35K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$240K
+223% vs prior year
Spent
$347K
To programs
92%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$240K
FY2022▲ +223%
Tap a bar for its year
Revenue by fiscal year
FY2020$99K
FY2021$74K
FY2022$240K
FY2023$287K
FY2024$1.1M
Expenses
$347K
FY2022▲ ×11
Tap a bar for its year
Expenses by fiscal year
FY2020$238K
FY2021$32K
FY2022$347K
FY2023$352K
FY2024$108K
Net assets
$1.8M
FY2022▼ -23%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$2.4M
FY2022$1.8M
FY2023$2.0M
FY2024$2.8M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $320K Management & general 8% · $27K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
John George Coumantaros
President / Chairman
$0Pt VII · Sec A
Pantelis Gasparakis
Trustee/Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cycladic Art Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes understanding of Cycladic and ancient Greek art.

Questions for Cycladic Art Foundation

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Provided by the organization

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2 programs · $320K · in their own filed words · FY2022
01

The organization provided support to the museum of cycladic art.

$300Kprogram expense
02

The organization sponsored internships and other awards as part of its mission.

$20Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
National Philanthropic TrustFY2024$25K
Leon Levy FoundationFY2024$10K
Total grants receivedfrom 2 funders$35K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$240K
Ln 12
Gifts and grantsLn 1h$222K
Investment incomeLn 3$70K
Money outPt IX
$347K
Ln 25
Programscol B$320K
Managementcol C$27K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$263K
Total assetsLn 16$1.8M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$222K
Fundraising eventsLn 1c$138K
Investment incomeLn 3$70K
Gains on assetsLn 7$44K
Total revenueLn 12$240K
Assets in detailPt X, end of year
SavingsLn 2$263K
Cash and savings togetherLn 1–2$263K
InvestmentsLn 11–13$1.6M
Total assetsLn 16$1.8M
LiabilitiesLn 26$0
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$426K$263K
InvestmentsLn 11–13$2.0M$1.6M
Total assetsLn 16$2.4M$1.8M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.4M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$320K$320K
Accounting feesLn 11c$14K$14K
Investment management feesLn 11f$13K$13K
Other expenses (24a–d)Ln 24$275$275
Total functional expensesLn 25$347K$320K$27K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$108K$991K$2.8M 990 PDF
FY2023 $287K$352K−$65K$2.0M 990 PDF
FY2022 Viewing $240K$347K−$107K$1.8M 990 PDF
FY2021 $74K$32K$42K$2.4M 990 PDF
FY2020 $99K$238K−$140K$1.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $240,163 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,372$222,066
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $29,072$70,362
I-11 Other revenuePrior year $0−$52,265
I-12 Total revenuePrior year $74,444$240,163
I-13 Grants and similar amounts paidPrior year $3,000$320,333
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $29,016$26,637
I-18 Total expensesPrior year $32,016$346,970
I-19 Revenue less expensesPrior year $42,428−$106,807
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $240,163 across 7 lines filed
VIII-1c Fundraising events$138,226
VIII-1f All other contributions, gifts and grants$83,840
VIII-1h Total contributions, gifts and grants$222,066
VIII-3 Investment incomeExcluded from tax $25,895$25,895
VIII-7 Net gain or loss on sales of assetsExcluded from tax $44,467$44,467
VIII-8 Net income from fundraising eventsExcluded from tax −$52,265−$52,265
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $18,097$240,163
Part IX · Statement of functional expenses $346,970 across 4 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $320,333$320,333
IX-11c Accounting feesManagement $13,750$13,750
IX-11f Investment management feesManagement $12,612$12,612
IX-24 Other expenses (24a–d)Management $275$275
IX-25 Total functional expensesPrograms $320,333 · Management $26,637 · Fundraising $0$346,970
Part X · Balance sheet $1,838,639 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $425,615$262,671
X-11 Publicly traded securitiesStart of year $1,959,882$1,575,968
X-16 Total assetsStart of year $2,385,497$1,838,639
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $724,302$483,918
X-28 Net assets with donor restrictionsStart of year $1,661,195$1,354,721
X-32 Total net assets or fund balancesStart of year $2,385,497$1,838,639
X-33 Total liabilities and net assetsStart of year $2,385,497$1,838,639
Part XI · Reconciliation of net assets $1,838,639 net assets at year end
XI-1 Total revenue$240,163
XI-2 Total expenses$346,970
XI-3 Revenue less expenses−$106,807
XI-4 Net assets at start of year$2,385,497
XI-5 Net unrealized gains (losses) on investments−$440,051
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,838,639

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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