Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2023.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
81 cents of each dollar spent went to programs.
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
4 people listed on the 990.
Geoffrey Glick’s $15K as Acting President is at the 1st percentile of top reported officer pay among 3925 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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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
Provides scholarships for college students studying Asian arts, culture, and history.
Questions for Liu Shiming Art Foundation
Your first name shows with your question. Liu Shiming Art Foundation answers here, for everyone.
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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.
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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $305K | $439K |
| Land, buildings, equipmentLn 10c | $15K | $20K |
| Total assetsLn 16 | $321K | $1.0M |
| LiabilitiesLn 26 | $53K | $737K |
| Net assetsLn 32 | $267K | $273K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $178K | $178K | ||
| Grants to domestic individualsLn 2 | $10K | $10K | ||
| Grants and assistance to foreign recipientsLn 3 | $436K | $436K | ||
| Other salaries and wagesLn 7 | $303K | $244K | $59K | |
| Other employee benefitsLn 9 | $16K | $13K | $3K | |
| Payroll taxesLn 10 | $17K | $13K | $3K | |
| Other fees for servicesLn 11g | $200K | $67K | $133K | |
| Advertising and promotionLn 12 | $27K | $27K | ||
| Office expensesLn 13 | $36K | $26K | $10K | |
| OccupancyLn 16 | $81K | $39K | $42K | |
| TravelLn 17 | $5K | $252 | $5K | |
| Depreciation, depletion and amortizationLn 22 | $6K | $6K | ||
| InsuranceLn 23 | $6K | $6K | ||
| Other expenses (24a–d)Ln 24 | $110K | $110K | $213 | |
| Total functional expensesLn 25 | $1.4M | $1.2M | $268K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $1.4M | $1.4M | $5K | $273K | 990 PDF |
| FY2023 | $1.6M | $981K | $569K | $267K | 990 PDF |
| FY2022 | $1.5M | $1.3M | $168K | $170K | 990 PDF |
| FY2021 | $50K | $2K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $1,436,925 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, 4 to look at
Part VIII · Statement of revenue $1,436,925 across 4 lines filed
Part IX · Statement of functional expenses $1,431,741 across 14 lines filed
Part X · Balance sheet $1,009,313 assets, 12 lines filed
Part XI · Reconciliation of net assets $272,544 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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