INTERNATIONAL FOLK ART FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1951

Legal Domicile

Principal Officer

LAUREL SETH

Phone

5059832612

Tax Period

2022-07-01 to 2023-06-30

INTERNATIONAL FOLK ART FOUNDATION, founded in 1951, is a small nonprofit in the Arts, Culture & Humanities sector that reported $880K in total revenue in fiscal year 2022. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $826K left a modest 6% surplus.

Mission

TO PROVIDE FINANCIAL ASSISTANCE TO THE MUSEUM OF INTERNATIONAL FOLK ART AND FURTHER THE UNDERSTANDING OF FOLK ART AS IT RELATES TO THE PEOPLE OF THE WORLD.

Program Service Accomplishments

Program 1

Expenses: $383,877 Revenue: $743

THE INTERNATIONAL FOLK ART FOUNDATION (IFAF) GAVE SUPPORT TO PRODUCE EXHIBITIONS AT THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA), INCLUDING PUBLICATIONS. THERE WERE APPROXIMATELY 90,000 VISITORS...

THE INTERNATIONAL FOLK ART FOUNDATION (IFAF) GAVE SUPPORT TO PRODUCE EXHIBITIONS AT THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA), INCLUDING PUBLICATIONS. THERE WERE APPROXIMATELY 90,000 VISITORS DURING THE FISCAL YEAR.

Program 2

Expenses: $63,980

COLLECTIONS CONSERVATION, MAINTENANCE, PROCESSING AND RECORD KEEPING - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) COLLECTION, INCLUDING OBJECTS OWNED BY THE INTERNATIONAL FOLK ART FOUNDATION...

COLLECTIONS CONSERVATION, MAINTENANCE, PROCESSING AND RECORD KEEPING - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) COLLECTION, INCLUDING OBJECTS OWNED BY THE INTERNATIONAL FOLK ART FOUNDATION (IFAF), IS THE LARGEST FOLK ART COLLECTION IN THE WORLD. CARING FOR THESE OBJECTS INCLUDES REGULAR PEST MONITORING, KEEPING DETAILED RECORDS FOR LOANS, EXHIBITIONS, AND NEW ACQUISITIONS, AND RECENTLY CONVERTING ALL RECORDS TO DIGITAL FORMS AVAILABLE ON THE MOIFA WEBSITE. THERE WERE APPROXIMATELY 60,000 VISITORS TO THE WEBSITE AND SOCIAL MEDIA.

Program 3

Expenses: $147,153

LIBRARY AND ARCHIVES SUPPORT - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) HAS THE LARGEST INTERNATIONAL FOLK ART LIBRARY IN THE WORLD AND THE ARCHIVES ARE GROWING WITH PLANS TO FURTHER PRESERVE...

LIBRARY AND ARCHIVES SUPPORT - THE MUSEUM OF INTERNATIONAL FOLK ART (MOIFA) HAS THE LARGEST INTERNATIONAL FOLK ART LIBRARY IN THE WORLD AND THE ARCHIVES ARE GROWING WITH PLANS TO FURTHER PRESERVE VIDEOS AND FIELD PHOTOGRAPHS. THE LIBRARY SERVES ALL MOIFA STAFF, DOCENTS, VISITORS, AND SCHOLARS. APPROXIMATELY 25,000 VISITORS ACCESSED LIBRARY RESOURCES ONLINE OR VISITED IN PERSON.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $40,250

Program Service Revenue $743

Investment Income $837,308

Other Revenue $1,946

TOTAL REVENUE $880,247

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $90,906

Fundraising Expenses $0

Program Expenses $639,795

Other Expenses $724,996

TOTAL EXPENSES $825,902

Year-over-Year Comparison

	2022	2021	Change
Revenue	$880,247	$2,786,006	-0.7%
Expenses	$825,902	$785,531	+0.1%
Net Income	$54,345	$2,000,475	-1.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$84,999

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAUREL SETH	EXECUTIVE DIRECTOR	40.00	Officer	$77,499	$7,500	$84,999
JULIA CATRON	PRESIDENT	8.00	Officer Director	$0	$0	$0
DAVID DAVENPORT	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
ROSALIND DOHERTY	SECRETARY	4.00	Officer Director	$0	$0	$0
DAVID MATTHEWS	TREASURER	4.00	Officer Director	$0	$0	$0
RANDALL BELL	MEMBER	4.00	Director	$0	$0	$0
JOHN DRAPER	MEMBER	4.00	Director	$0	$0	$0
EDELMA HUNTLEY	MEMBER (BEGINNING AUG 2022)	4.00	Director	$0	$0	$0
LISA MAYER	MEMBER	4.00	Director	$0	$0	$0
ROBERTA SYME	MEMBER	4.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$880,247	$825,902	$33,617,186	$54,345
2022	$2,786,006	$785,531	$32,176,768	$2,000,475
2021	$894,003	$708,548	$38,080,422	$185,455
2020	$1,380,032	$823,032	$29,075,892	$557,000
2019	$1,344,487	$776,872	$30,068,919	$567,615
2018	$1,430,873	$863,928	$29,501,304	$566,945
2017	$1,416,243	$1,036,103	$27,304,830	$380,140
2017	$1,416,243	$1,036,103	$27,304,830	$380,140