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Also known as: (D/B/A THE AMERICAN CONTEMPORARY ART FDNINC)
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American Art Foundation Inc. is a private corporation based in NEW YORK, NY. The foundation received its IRS ruling in 1999. The principal officer is Lisa Somar. It holds total assets of $1.2M. Annual income is reported at $61K. Total assets have decreased from $28.5M in 2010 to $1.2M in 2022. The foundation is governed by 6 officers and trustees. The foundation operates in the area of arts & culture. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. According to available records, American Art Foundation Inc. has made 5 grants totaling $659K, with a median grant of $88K. The foundation has distributed between $65K and $226K annually from 2020 to 2023. Individual grants have ranged from $65K to $226K, with an average award of $132K. Grant recipients are concentrated in Massachusetts. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
American Art Foundation Inc. primarily funds organizations in the area of arts & culture. Based on available records, the foundation has funded 5 grants. Its grantmaking reaches organizations primarily in MA.
American Art Foundation Inc. has distributed a total of $659K across 5 grants. The median grant size is $88K, with an average of $132K. Individual grants have ranged from $65K to $226K.
American Art Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals.
American Art Foundation Inc. is headquartered in NEW YORK, NY.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Meredith Edwards | SECRETARY | $2K | $0 | $2K |
| Leonard A Lauder | PRESIDENT | $0 | $0 | N/A |
| William Lauder | TRUSTEE | $0 | $0 | N/A |
| Lisa Somar | ASST SECRETARY/ASST TREASURER | $0 | $0 | N/A |
| Kevin Dieterich | TREASURER | $0 | $0 | N/A |
| Carol Boulanger | VICE PRESIDENT | $0 | $0 | N/A |
Total Giving
$263K
Total Assets
$1.2M
Fair Market Value
$1.2M
Net Worth
$1.2M
Grants Paid
$226K
Contributions
N/A
Net Investment Income
$46K
Distribution Amount
$71K
Total: N/A
Total Grants
5
Total Giving
$659K
Average Grant
$132K
Median Grant
$88K
Unique Recipients
1
Most Common Grant
$88K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Museum Of Fine ArtsTO PRESERVE PREEMINENT COLLECTIONS AND PROMOTE THE WORK OF THE ORGANIZATION | Boston, MA | $226K | 2023 |