NEW ART TRUST

EIN: 943284917 501(c)(3)

SAN FRANCISCO, CA

Total Revenue
$50,867
Total Expenses
$49,982
Total Assets
$1,032,839
Net Assets
$1,032,839
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
CA
Principal Officer
PAMELA P KRAMLICH
Phone
4155630887
Tax Period
2018-10-01 to 2019-09-30

NEW ART TRUST, founded in 1997, is a micro nonprofit that reported $51K in total revenue in fiscal year 2018. Revenue fell 51% from the prior year — a significant decline worth monitoring. Net assets of $1.0M represent 244 months of operating reserves.

Mission

THE NEW ART TRUST COLLECTS MEDIA ART AND RELATED WORKS TO BENEFIT THE SAN FRANCISCO MUSEUM OF MODERN ART, THE MUSEUM OF MODERN ART, NEW YORK, AND TATE, UNITED KINGDOM AND SUPPORTS THE ADVANCEMENT OF MEDIA ART CONSERVATION, EXHIBITION, AND INTERPRETATION, ESPECIALLY AT THE THREE AFOREMENTIONED INSTITUTIONS.

Program Service Accomplishments

Program 1
Expenses: $11,118

COLLECTION, DEVELOPMENT & RESEARCH IN PRIOR YEARS, NEW ART TRUST ("NAT") HAS COMMITTED FUNDING TO ITS SUPPORTED ORGANIZATIONS FOR MEDIA ART ACQUISITIONS. DURING FYE 9/30/19, NAT AND CURATORS FROM...

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COLLECTION, DEVELOPMENT & RESEARCH IN PRIOR YEARS, NEW ART TRUST ("NAT") HAS COMMITTED FUNDING TO ITS SUPPORTED ORGANIZATIONS FOR MEDIA ART ACQUISITIONS. DURING FYE 9/30/19, NAT AND CURATORS FROM EACH OF ITS SUPPORTED ORGANIZATIONS INVESTIGATED, OVER THE COURSE OF THE YEAR, VARIOUS MEDIA ARTWORKS. THE RESULT OF THEIR COLLABORATIVE EFFORTS IS THE PROPOSED CO-ACQUISITION OF THREE MEDIA ARTWORKS. TWO OF THE THREE ARTWORKS ("MATRIX 1 AND "MATRIX 2" BY STEINA AND WOODY VASULKA) ARE HISTORICAL VIDEO INSTALLATION PIECES FROM THE EARLY 1970'S. THE THIRD ARTWORK ("LAVA AND MOSS" BY STEINA VASULKA), CREATED IN 2000, IS A THREE-CHANNEL VIDEO PROJECTION. THE CURATORS HAVE ALSO NEGOTIATED A PURCHASE PRICE FOR THE THREE PIECES. AT THE END OF FYE 9/30/19, NAT AND EACH OF ITS SUPPORTED ORGANIZATIONS ARE ENGAGING ITS RESPECTIVE BOARDS FOR PERMISSION TO PROCEED WITH THE CO-ACQUISTION OF THE THREE ARTWORKS.THE NEW ART TRUST CONTINUED TO ACQUIRE BOOKS AND CATALOGUES RELATED TO MEDIA ART FOR ITS REFERENCE LIBRARY.

Program 2
Expenses: $16,946

CARE AND UTILIZATION OF MEDIA ART AND LIBRARY COLLECTIONONE OF NEW ART TRUST'S ("NAT") MOST IMPORTANT CONSERVATION AND COLLECTION MANAGEMENT TASKS UNDERTAKEN DURING THE YEAR WAS A THOROUGH REVIEW OF...

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CARE AND UTILIZATION OF MEDIA ART AND LIBRARY COLLECTIONONE OF NEW ART TRUST'S ("NAT") MOST IMPORTANT CONSERVATION AND COLLECTION MANAGEMENT TASKS UNDERTAKEN DURING THE YEAR WAS A THOROUGH REVIEW OF ITS DATABASE, QI. THE DATABASE, CREATED IN 2014-16, INCLUDES RECORDS FOR EACH COMPONENT OF ALL COLLECTION WORKS. AFTER MORE THAN THREE YEARS OF USAGE, THE DATABASE WAS DUE FOR AN OVERVIEW/UPDATE TO ENSURE THAT IT CONTINUES TO MEET NAT'S NEEDS. A TWO-DAY ON-SITE CONSULTATION WITH THE COLLECTION'S VENDOR, KEEPTHINKING, RESULTED IN SPECIFIC CHANGES/UPDATES TO THE DATABASE'S FIELDS AND FUNCTIONALITY. ADDITIONALLY, THE COLLECTION'S COMPONENT NUMBERING SYSTEM WAS UPDATED TO BETTER REFLECT THE INCREASING COMPLEXITY OF NAT'S ARTWORKS, PARTICULARLY IN REGARD TO DIGITAL FILES AND MASTERS. ANDY WARHOL'S ORIGINAL 16MM FILMS, FROM PREVIOUSLY UNKNOWN EXPERIMENTAL 1965 TELEVISION COMMERCIALS FOR CADENCE--A LAXATIVE PRODUCT BEING INTRODUCED AT THE TIME-- WERE SCANNED AT A 2K DIGITAL RESOLUTION BY A TRUSTED VENDOR UNDER NAT'S SUPERVISION. THE NEW DIGITAL COPY WILL BE USED FOR (1) EXHIBITION (ON LOAN TO THE ART INSTITUTE OF CHICAGO'S ITERATION OF ANDY WARHOL: FROM A TO B" FROM OCTOBER 2019 - JANUARY 2020) AND (2) CONSERVATION--A 2K DIGITAL RESOLUTION SCAN WOULD ALLOW FOR CREATION OF NEW FILM, AS WELL AS, DIGITAL ELEMENTS FOR FUTURE USE.A REVIEW OF ALL TIME-BASED ARTWORKS WAS UNDERTAKEN TO SYSTEMATICALLY DOCUMENT (1) THE STATUS OF MASTER MATERIAL, (2) TO DETERMINE WHETHER THESE MASTERS ARE OF SUFFICIENT QUALITY TO MEET CURRENT BEST PRACTICES IN THE FIELD, AND (3) IN CASES WHERE THERE MAY BE CONCERNS ABOUT MASTER QUALITY, TO DECIDE WHAT THE MOST APPROPRIATE FORMAT FOR THAT MASTER WOULD BE. CONSERVATION TASKS HAVE ALSO INCLUDED OVERSIGHT OF OUTGOING ARTWORK LOANS INCLUDING BILL VIOLA'S "HE WEEPS FOR YOU" (BARNES FOUNDATION, PHILADELPHIA), AND CARDIFF AND MILLER'S "40 PART MOTET" (TURNER CONTEMPORARY, UNITED KINGDOM).

Program 3

MATTERS OF MEDIA ART NEW ART TRUST'S ("NAT") INITIAL GOAL FOR MATTERS OF MEDIA ART CONTINUES TO BE THE SAME - PRESERVATION AND CONSERVATION OF MEDIA ART. NAT IS ALSO FOCUSING ON ANOTHER ELEMENT -...

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MATTERS OF MEDIA ART NEW ART TRUST'S ("NAT") INITIAL GOAL FOR MATTERS OF MEDIA ART CONTINUES TO BE THE SAME - PRESERVATION AND CONSERVATION OF MEDIA ART. NAT IS ALSO FOCUSING ON ANOTHER ELEMENT - EDUCATION. NAT'S BOARD OF TRUSTEES CONTINUES TO ASSESS THEIR CURRENT GOALS IN RELATION TO SIMILAR EFFORTS BY OTHER LEADING ARTS INSTITUTIONS GLOBALLY. NAT'S WEBSITE, MATTERS IN MEDIA ART, PROVIDES ESSENTIAL ASSISTANCE TO CONSERVATORS WHO SHARE THE SAME GOALS - TO COLLECT AND SHARE THE MOST EXTENSIVE AND PROFESSIONAL BODY OF KNOWLEDGE. THE TRUSTEES CONTINUE TO DISCUSS THE FUTURE DIRECTION AND DESIRED IMPACT OF MATTERS IN MEDIA ART INCLUDING A PROPOSED REVIEW AND UPDATE OF THE WEBSITE.

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Trantor Score

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

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $50,866
Program Service Revenue $0
Investment Income $1
Other Revenue $0
TOTAL REVENUE $50,867

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $28,064
Other Expenses $49,982
TOTAL EXPENSES $49,982

Year-over-Year Comparison

2018 2017 Change
Revenue $50,867 $103,836 -0.5%
Expenses $49,982 $102,472 -0.5%
Net Income $885 $1,364 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
2
Employees
N/A
Volunteers
N/A

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
3
$1,017,643
Total Directors
5
$6,131,325
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAMELA P KRAMLICH CHAIRMAN/DIRECTOR 10.00
Officer Director
$0 $0 $0
C RICHARD KRAMLICH DIRECTOR/TREASURER/CFO 5.00
Officer Director
$0 $0 $0
NEAL BENEZRA DIRECTOR/SECRETARY 1.00
Officer Director
$0 $67,966 $1,017,643
GLENN D LOWRY DIRECTOR 1.00
Director
$0 $983,133 $5,113,682
FRANCES MORRIS DIRECTOR-SEE SCH O FORM990 1.00
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
2019 $50,867 $49,982 $1,032,839 $885
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