Romare Bearden Foundation Inc
Nonprofit profile at a glance
- EIN
- 300207085
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2126659550
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Art Museums
Reported finances
- Revenue
- $317,870
- Expenses
- $423,746
- Assets
- $2,377,120
- Liabilities
- $84,931
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
People named in this filing
- EMILIE DE BRIGARD (DIRECTOR)
- JOHANNE BRYANT-REID (DIRECTOR)
- TALLAL I ELBOUSHI (CHAIRMAN)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To perpetuate romare bearden's artistic and intellectual legacies, and to promote public awareness and appreciation of the arts.
What it reported doing in 2024
Support to scholars to encourage new exhibitions and publications on the artist; managed research and image requests; support to new documentary film on bearden. Foundation representation at several conferences and initiative meetings, including the harlem semester initiative at barnard college- (ongoing spring 2024) and harlem cultural collaboration (ongoing); artist endowed foundation annual forum (oct 2024); support to a consortium of artist endowed foundation pilot program for interns and fellows in the arts. The foundation board and staff hosted a spring salon in Washington, dc included a talk by scholar leslie king hammond, and art auction with n'namdi gallery (june 8, 2024); attended conference black portraiture (venice april 20-21, 2024); represented at group by unit gallery in venice, italy (april 2024); the foundation staff and board members participated in the launch of a new documentary on bearden, at miami art basel (dec 1-4, 2024). This included a small exhibition of collage, and a panel discussion with the filmmaker, deborah riley draper, and artist tschabalala self.
Operating model
- Revenue model
- Donor-supported. 80% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 92
- Accountability: 55
- Sustainability: 40
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.9%; rating input score 90
- Program expense ratio: 67.4%; rating input score 67
- Fundraising efficiency: $3.88 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 64.3%; rating input score 64; 17th percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -33.3%; rating input score 9; 9th percentile among comparable filings
- Total-asset coverage ratio: 5.61; rating input score 81; 81st percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 16% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 12.2% per year; rating input score 100; 77th percentile among comparable filings
- Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings
Details
- Where the money goes: 89.9% of revenue deployed · 67.4% of spending went to programs
- Governance: 9 of 14 board members independent · 3 of 7 filing controls reported
- Programs: 4 filed program accomplishments · $286K in reported program spending
- Leadership: top reported pay $0 · 13 people listed
- Consistency: 26 of 26 current checks pass
- Schedules: 7 filed schedules · includes major donors
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 17/100.
- High — Sustainability: Operating margin scored 9/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 35/100.