2025-05-15T16:07:11-05:00 2024-06-30 132781641 MITCHELL & TITUS LLP 80 PINE STREET 32ND FL NEW YORK NY 10005 990 2023-07-01 232249360 SAMUEL S FLEISHER ART MEMORIAL INC SAMU 2159223456 PO BOX 7646 PHILADELPHIA PA 191017646 MONICA ZIMMERMAN EXECUTIVE DIRECTOR 2159223456 2025-05-15 1 0 QIAN ZHANG P01306575 2127094500 2025-05-15 2023 2025-03-06 01:10:19Z FLEISHER ART MEMORIAL MONICA ZIMMERMAN PO BOX 7646 PHILADELPHIA PA 191017646 4289630 0 X WWW.FLEISHER.ORG X 1983 PA OPERATE & MAINTAIN A SCHOOL OF ART & MUSEUM. 18 18 208 43 0 0 1821610 2330310 961048 1068062 587118 230442 25894 102573 3395670 3731387 0 0 0 0 2251539 2318583 0 0 214370 1393861 1107036 3645400 3425619 -249730 305768 20101396 21399823 541731 1320610 19559665 20079213 TO MAKE ART ACCESSIBLE TO EVERYONE THROUGH AFFORDABLE ART CLASSES, WORKSHOPS, EXHIBITIONS, AND COMMUNITY AND SCHOOL-BASED PROGRAMS. 0 0 2615633 0 1039409 YEAR-ROUND LOW-COST AND TUITION-FREE STUDIO CLASSES ONSITE AND ONLINE FOR ADULTS AND YOUTH, AND FREE DROP-IN PROGRAM FOR TEENS. 86095 0 52818 RESIDENCIES IN PUBLIC SCHOOLS AND COMMUNITY CENTERS FEATURING THEMED CURRICULUM-RELATED PROJECTS, NEIGHBORHOOD VISITS BY MOBILE ART STUDIO, AN ANNUAL ART FESTIVAL, AND DIA DE LOS MUERTOS CELEBRATION. 154706 0 2760 EXHIBITIONS OF JURIED LOCAL PROFESSIONAL ARTISTS, FACULTY AND STUDENTS, AND RELATED PROGRAMMING. 2856434 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 42 0 1 208 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X VALARIE MCDUFFIE 2156847801 26TH BEN FRANKLIN PARKWAY PHILADELPHIA PA 19130 BARBARA BECK BOARD MEMBER 1.00 0.00 X 0 0 0 WILLIAM BECKER BOARD MEMBER 1.00 0.00 X 0 0 0 LINDSAY BEDFORD BOARD MEMBER 1.00 0.00 X 0 0 0 KEVIN DOW VICE PRESIDENT 1.00 0.00 X X 0 0 0 MELISSA BLANTON PRESIDENT 1.00 0.00 X X 0 0 0 MARK BURROWS BOARD MEMBER 1.00 0.00 X 0 0 0 DAVID DUNN BOARD MEMBER 1.00 0.00 X 0 0 0 HUWAYDA FAKHRY BOARD MEMBER 1.00 0.00 X 0 0 0 TANYA LATORTUE BOARD MEMBER 1.00 0.00 X 0 0 0 SHANNON MALDONADO SECRETARY 1.00 0.00 X X 0 0 0 BILL MEINEL BOARD MEMBER 1.00 0.00 X 0 0 0 RAYMOND PERKINS TREASURER 1.00 0.00 X X 0 0 0 SHARON M PLACE BOARD MEMBER 1.00 0.00 X 0 0 0 JASON PRUNTY VICE PRESIDENT 1.00 0.00 X X 0 0 0 DAVID REINHARDT BOARD MEMBER 1.00 0.00 X 0 0 0 NICOLE SANSONE RUIZ BOARD MEMBER 1.00 0.00 X 0 0 0 LINDSEY SCANNAPIECO BOARD MEMBER 1.00 0.00 X 0 0 0 NANCY SHELL BOARD MEMBER 1.00 0.00 X 0 0 0 MONICA ZIMMERMAN EXECUTIVE DIRECTOR 35.00 0.00 X 159430 0 3588 159430 0 3588 1 0 1 0 MARGIN MEDIA 11 ROCKMERE ROAD DORCHESTER MA 02125 ARTIST RESIDENCY 136695 1 88660 1300 432960 519221 1288169 2330310 LAB & WORKSHOP 900099 983138 983138 MODEL FEES 900099 42948 42948 FEE FOR SERVICES 900099 41258 41258 SALES OF ART SUPPLIES 900099 718 718 1068062 50662 50662 54536 119 54417 54417 54417 717585 537805 179780 179780 179780 41550 1300 20319 21231 21231 MISC INCOME 900099 24165 24165 SALE FOR ART WORK 900099 2760 2760 26925 3731387 1094987 0 306090 170240 56179 56179 57882 1767501 1539585 102325 125591 37039 27937 4219 4883 195366 154997 18711 21658 148437 111960 16907 19570 65004 65004 18364 18364 44527 18858 11949 13720 221400 221400 11300 11300 153005 153005 18600 18600 57119 55582 1194 343 8438 8438 168045 163183 1006 3856 89502 86912 2054 536 MAINTENANCE & REPAIR 61642 59859 1414 369 MODELS 33377 33377 EQUIPMENT LEASE 7539 7539 MEMBERSHIPS 5067 5067 144107 154761 23384 -34038 3425619 2856434 354815 214370 500 500 671890 1031447 33609 37058 258914 5016164 4269833 901117 746331 5425598 6162917 13031624 13199714 20101396 21399823 351822 902202 189909 418408 541731 1320610 X 5503317 5284856 14056348 14794357 19559665 20079213 20101396 21399823 305768 213780 0 X 0 1 X 1 0 X 1484330 15200093 1814610 1811628 2330310 22640971 609945 514389 1062492 965028 1068062 4219916 2094275 15714482 2877102 2776656 3398372 26860887 568840 619225 597914 406574 532960 2725513 0 568840 619225 597914 406574 532960 2725513 24135374 99368 82826 96958 124677 105198 509027 99368 82826 96958 124677 105198 509027 21231 21231 2500 26925 29425 2196143 15797308 2974060 2901333 3551726 27420570 0.88020 0.73180 0.01860 0.04590 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5425598 511850 519956 -294487 6162917 5207872 108525 387845 -278643 5425598 5872857 15900 -404901 275983 5207872 4538253 156629 1437139 259164 5872857 4753706 13765 31802 261020 4538253 0.78220 0.18480 0.03300 1 0 4713070 4016000 697070 303094 253833 49261 746331 FUNDS HELD IN TRUST: FIXED-INCOME SECURITIES 1380388 F FUNDS HELD IN TRUST: COMMINGLED STOCK FUNDS 7203565 F FUNDS HELD IN TRUST: SHORT-TERM INVESTMENT FUNDS 822553 F FUNDS HELD IN TRUST: MUTUAL FUNDS INVESTING 3793208 F 13199714 X 3965605 213780 213780 3751825 -20438 -20438 3731387 3446057 20438 20438 3425619 0 3425619 PART V, LINE 4: THE ENDOWMENT IS USED TO SUPPORT OPERATIONS AND PROVIDE MONEY FOR ARTIST AWARDS. FLEISHER PROVIDES LIMITED TUITION ASSISTANCE TO HELP STUDENTS ACCESS TUITION-BEARING PROGRAMS. THIS IS NOT REFLECTED IN THE FINANCIALS. PART X, LINE 2: FLEISHER HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE, EXCEPT FOR TAXES ON INCOME FROM ACTIVITIES UNRELATED TO ITS EXEMPT PURPOSE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY FLEISHER AND RECOGNIZE A TAX LIABILITY (OR AN ASSET) IF FLEISHER HAS AN UNCERTAIN TAX POSITION THAT MORE-LIKELY-THAN-NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS CONCLUDED THAT AS OF JUNE 30, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BY FLEISHER THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR AN ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MANAGEMENT BELIEVES THAT FLEISHER IS NO LONGER SUBJECT TO TAX EXAMINATION FOR YEARS PRIOR TO JUNE 30, 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT EXPENSES FOR FUNDRAISING EVENTS RENTAL EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FOR FUNDRAISING EVENTS RENTAL EXPENSES SCHEDULE D, PART VI AND VII, LINE 1 PART VI: THE LAND AND BUILDINGS OCCUPIED BY THE MEMORIAL ARE OWNED BY THE TRUST. SINCE THE BUILDINGS ACQUIRED BY THE TRUST BEFORE 2001 ARE FULLY DEPRECIATED FOR ACCOUNTING PURPOSES, NO VALUE RELATED TO THE USE OF THE BUILDINGS HAS BEEN RECOGNIZED IN THE FINANCIAL STATEMENTS. BUILDINGS ACQUIRED BY THE TRUST AFTER 2000 AND OCCUPIED AND OPERATED BY THE MEMORIAL ARE RECOGNIZED IN THE FINANCIAL STATEMENTS AND ON FORM 990 BECAUSE THE MEMORIAL HAS AN ECONOMIC INTEREST IN THAT PROPERTY THROUGH ITS BENEFICIAL INTEREST IN THE TRUST. PART VII: FUNDS HELD IN TRUST BY OTHERS CONSIST OF THE FAIR VALUE OF THE TRUST ESTABLISHED UNDER THE WILL OF SAMUEL S. FLEISHER ("TRUST"). THE MEMORIAL NEITHER INVESTS THESE FUNDS NOR HAS RESPONSIBILITY FOR THEIR MANAGEMENT. THESE ASSETS ARE RECOGNIZED IN THE FINANCIAL STATEMENTS AND ON FORM 990 BECAUSE THE MEMORIAL HAS A BENEFICIAL INTEREST IN THE TRUST'S ASSETS. FOUNDER'S 42850 1300 41550 15831 2450 2038 42850 1300 41550 15831 2450 2038 20319 21231 X X 0 0 0 0 0 0 0 0 0 MONICA ZIMMERMAN EXECUTIVE DIRECTOR 159430 0 0 0 0 0 0 0 3588 0 163018 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B DRAFT FORM 990 IS PREPARED BY MITCHELL & TITUS LLP BASED ON THE AUDITED FINANCIAL STATEMENTS AND WORKSHEETS PROVIDED BY THE FINANCE DEPARTMENT. THEN, THE DRAFT RETURN IS REVIEWED BY THE MANAGEMENT TEAM. THE RETURN IS MADE AVAILABLE TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO IT BEING FILED WITH INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE MEMORIAL'S CONFLICT OF INTEREST POLICY IS REVIEWED AND UPDATED PERIODICALLY BY THE MEMORIAL'S BOARD OF DIRECTORS. THE MEMORIAL'S COMMITTEE MEMBERS AND DIRECTORS COMPLETE AN ANNUAL RELATED PARTY QUESTIONNAIRE. THE MEMORIAL'S CONFLICT OF INTEREST POLICY REQUIRES, AMONG OTHER THINGS, THAT COMMITTEE MEMBERS AND DIRECTORS DISCLOSE CONFLICTS AND POTENTIAL CONFLICTS AND THAT INTERESTED PARTIES NOT PARTICIPATE IN ANY VOTE TO CONSIDER A TRANSACTION THAT MIGHT CONSTITUTE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS THE MEMORIAL USES TO ESTABLISH COMPENSATION FOR THE EXECUTIVE DIRECTOR INCLUDES A THOROUGH REVIEW OF THE EXECUTIVE DIRECTOR'S COMPENSATION LEVEL BY THE MEMORIAL'S INDEPENDENT FINANCE COMMITTEE. THE REVIEW IS BASED ON A MARKET ANALYSIS, PRIMARILY AVAILABLE TAX RETURNS FOR NOT-FOR-PROFIT ORGANIZATIONS COMPARABLE IN SCOPE AND SIZE TO SAMUEL S. FLEISHER ART MEMORIAL, INC.. THE FINANCE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS THE RESULTS OF THE DELIBERATIONS AND DECISIONS IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE MEMORIAL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. SAMUEL S FLEISHER 9 RESIDUARY 1650 MARKET STREETSUITE 1200 PHILADELPHIA PA 19103 236205829 TO PROVIDE FINANCIAL SUPPORT TO SAMUEL S. FLEISHER ART, INC. PA SAMUEL S FLEISHER ART MEMORIAL INC T 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SAMUEL S FLEISHER 9 RESIDUARY C 532960 TRUSTEE DETERMINATION