2025-03-26T11:46:31-05:00 2023-12-31 474526160 EFPR GROUP CPAS PLLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2023-01-01 872425228 LIU SHIMING ART FOUNDATION LIUS 9176050098 15 EAST 40TH STREET FLOOR 2 NEW YORK NY 10016 PUIKING HUI EXECUTIVE DIRECTOR 9176050098 2025-03-18 1 0 DAVID A URBAN CPA P00630018 7166340700 2025-03-18 2023 2025-03-06 01:10:19Z X PUIKING HUI 15 EAST 40TH STREET FLOOR 2 NEW YORK NY 10016 1550713 0 X N/A X 2021 DE THE LIU SHIMING ART FOUNDATION HONORS THE LIFE AND SPIRIT OF CHINESE ARTIST LIU SHIMING (1926-2010) BY SUPPORTING FUTURE GENERATIONS OF ARTISTS AND ART HISTORIANS, AND BY PRESERVING AND PROMOTING THE ARTISTIC LEGACY OF LIU SHIMING THROUGH EXHIBITIONS, RESEARCH, AND PUBLICATIONS. 3 3 0 2 0 0 1451673 703013 0 847700 0 0 0 0 1451673 1550713 1042606 683974 0 0 0 122586 0 0 0 241230 174697 1283836 981257 167837 569456 169823 320610 0 53250 169823 267360 X THE LIU SHIMING ART FOUNDATION HONORS THE LIFE AND SPIRIT OF CHINESE ARTIST LIU SHIMING (1926-2010) BY SUPPORTING FUTURE GENERATIONS OF ARTISTS AND ART HISTORIANS, AND BY PRESERVING AND PROMOTING THE ARTISTIC LEGACY OF LIU SHIMING THROUGH EXHIBITIONS, RESEARCH, AND PUBLICATIONS. 0 0 801300 683974 SUPPORTING FUTURE GENERATIONS OF ARTISTS AND ART HISTORIANS:IN 2023, THE FOUNDATION PROVIDED SCHOLARSHIP FUNDING FOR UNDERGRADUATE AND GRADUATE STUDENTS OF STUDIO ARTS OR ART HISTORY AT 16 UNIVERSITIES LOCATED IN SIX STATES AND FIVE COUNTRIES IN AFRICA, ASIA, AND OCEANIA. FUNDING INCLUDED PERMANENT ENDOWMENTS, MULTI-YEAR GRANTS, AND ONE-TIME SCHOLARSHIP AWARDS. IN ADDITION, THE FOUNDATION PROVIDED 10 YOUNG/EMERGING ARTISTS WITH INDIVIDUAL GRANTS. 97016 0 847700 PRESERVING & PROMOTING ARTISTIC LEGACY OF LIU SHIMING:IN 2023, THE FOUNDATION SUPPORTED FIVE EXHIBITIONS/EVENT ORGANIZED IN PARTNERSHIP WITH THE UNIVERSITY OF GEORGIA, MACAULAY HONORS COLLEGE, UNIVERSITY OF HAWAII, RUTGERS UNIVERSITY, AND QUEEN'S UNIVERSITY IN CANADA. IN ADDITION, THE FOUNDATION COMMISSIONED THE RESEARCH AND WRITING OF A MONOGRAPH ON THE LIFE AND WORK OF LIU SHIMING. 898316 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 NY X XIAO LI LIANG 9176050098 15 EAST 40TH STREET FL 2 NEW YORK NY 10016 ZHIYONG YANG PRESIDENT 1.00 X X 0 0 0 SI YANG SECRETARY 1.00 X X 0 0 0 TRACY DANQUNG XU TREASURER 1.00 X X 0 0 0 GEOFFREY GLICK ACTING PRESIDENT 10.00 X 15000 0 0 15000 0 0 0 0 0 0 0 703013 703013 EXHIBITIONS 611710 737775 737775 PROCEEDS FROM DEACCESS 611710 109925 109925 847700 1550713 847700 0 0 425310 425310 35932 35932 222732 222732 122586 76628 45958 3500 3500 3399 3000 399 15000 15000 74750 74750 19481 19481 34127 26923 7204 20359 13413 6946 3402 3402 MISCELLENEOUS 679 147 532 981257 898316 82941 0 169823 305231 20442 5063 0 15379 169823 320610 818 0 52432 0 53250 X 169823 157435 109925 169823 267360 169823 320610 569456 -471919 0 X X 0 1 X 0 0 X 50030 1451673 703013 2204716 50030 1451673 703013 2204716 385962 1818754 2204716 847700 X SCH A, PART II: THE 2021 COLUMN OF SCHEDULE A, PART II REPRESENTS THE INITIAL SHORT YEAR OF THE ORGANIZATION FROM AUGUST 25, 2021 TO DECEMBER 31, 2021. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 20442 5063 15379 15379 PROMISES TO GIVE 52432 52432 X 1695346 144633 144633 1550713 0 1550713 1125890 144633 144633 981257 0 981257 PART III, LINE 1A: IT IS THE FOUNDATION'S POLICY TO PURCHASE WORKS OF ART WITH DONOR RESTRICTED FUNDS, INCLUDING CONTRIBUTIONS RECEIVED FOR SUCH PURPOSE, AND PROCEEDS FROM THE DEACCESSIONING OF OTHER WORKS OF ART. IT IS THE FOUNDATION'S POLICY NOT TO CAPITALIZE ITS COLLECTION OF WORKS OF ART. THEREFORE, THE VALUE OF ART OBJECTS IS NOT INCLUDED ON THE STATEMENT OF FINANCIAL POSITION. ADDITIONALLY, NO DETERMINATION HAS BEEN MADE OF THE AGGREGATE VALUE OF SUCH ASSETS FOR FINANCIAL REPORTING PURPOSES. CONTRIBUTIONS OF WORKS OF ART ARE TREATED IN THE SAME MANNER AS PURCHASES OF WORKS OF ART IN THAT THEY ARE NOT CAPITALIZED. PROCEEDS FROM DEACCESSIONED OBJECTS ARE REFLECTED ON THE STATEMENT OF ACTIVITIES AS NET ASSETS WITH DONOR RESTRICTIONS, BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. USE OF THE PROCEEDS OF DEACCESSIONED OBJECTS ARE RESTRICTED SOLELY TO THE ACQUISITION OF NEW WORKS, OR THE CONSERVATION OR REPAIR OF EXISTING WORKS IN THE COLLECTION. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THE FOUNDATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE FOUNDATION PRESENTLY DISCLOSES OR RECOGNIZES INCOME TAX POSITIONS BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE THAT A LIABILITY HAS BEEN INCURRED FOR UNRECOGNIZED INCOME TAXES. MANAGEMENT HAS CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT IN ITS FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE FOUNDATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. 1 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO UNIVERSITIES IN THE REGION. 214432 SUB-SAHARAN AFRICA 0 0 GRANTS TO UNIVERSITIES IN THE REGION. 3000 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO UNIVERSITIES IN THE REGION. 5300 0 0 0 0 0 0 222732 0 222732 EAST ASIA AND THE PACIFIC PROVIDE SUPPORT AND FUNDING FOR ART STUDENTS 114132 WIRE 0 EAST ASIA AND THE PACIFIC PROVIDE SUPPORT AND FUNDING FOR ART STUDENTS 100300 WIRE 0 0 0 0 0 0 0 PART I, LINE 2: ONE OF THE PRIMARY PURPOSES OF THE LIU SHIMING ART FOUNDATION IS TO PROVIDE SUPPORT AND FUNDING FOR EMERGING ARTISTS, ESPECIALLY IN THE FIELD OF SCULPTURE. THE LIU SHIMING ART FOUNDATION PROVIDES SEED DONATIONS TO SET UP A LIU SHIMING SCHOLARS FUND AT UNIVERSITIES AND INSTITUTIONS AROUND THE WORLD. THE RECIPIENT INSTITUTIONS REWARD SCHOLARSHIPS ON AN ANNUAL BASIS TO THOSE WITH DEMONSTRATED FINANCIAL NEED, WHO SHOW PROMISE IN THE FIELD OF ART, HISTORY, AND MULTICULTURAL STUDIES. LIU SHIMING ART FOUNDATION SEEKS TO IDENTIFY COLLEGES AND UNIVERSITIES WITH A PREFERENCE FOR THOSE COLLEGES AND UNIVERSITIES WITH AN ART SCHOOL, SCULPTURE MAJOR OR CULTURAL STUDY DEPARTMENT FOR FUNDING OF THESE SCHOLARS FUNDS. ONCE FUNDS ARE GRANTED THE COLLEGE/UNIVERSITY WILL BE RESPONSIBLE FOR CHOOSING RECIPIENTS OF FUNDS AND THE FOUNDATION WILL REQUEST AND RETAIN FUND RECIPIENTS INFORMATION. PART I, LINE 3: EXPENSES ARE REPORTED ON CASH BASIS. 1 BOWDOIN COLLEGE 5400 COLLEGE STATION BRUNSWICK ME 04011 010215213 501 (C)(3) 6000 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. MARIST COLLEGE 3399 NORTH RD POUGHKEEPSIE NY 12601 141442493 501 (C)(3) 63000 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. THE UNIVERSITY OF TEXAS AT AUSTIN 9011 MOUNTAIN RIDGE SUITE 150 AUSTIN TX 78759 741587488 501 (C)(3) 75000 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. UCINCINNATI FOUNDATION PO BOX 19970 CINCINNATI OH 45219 310896555 501 (C)(3) 75000 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. UNIVERSITY OF NEBRASKA FOUNDATION PO BOX 82555 LINCOLN NE 68501 470379839 501 (C)(3) 74120 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. UNIVERSITY OF OREGON FOUNDATION 1720 E 13TH AVE 410 EUGENE OR 97403 936015767 501 (C)(3) 108150 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. OPEN DREAMS 735 YARMOUTH COURT SAN DIEGO CA 92109 472525191 501 (C)(3) 9000 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. RUTGERS UNIVERSITY FOUNDATION 335 GEORGE STREET NEW BRUNSWICK NJ 08901 237318742 501 (C)(3) 15040 0 SCHOLARSHIP PROGRAMS WITH SCHOOLS TO SUPPORT STUDENTS IN ARTS AND CULTURAL STUDIES. SCHOLARSHIPS 10 35932 PART I, LINE 2: ONE OF THE PRIMARY PURPOSES OF THE LIU SHIMING ART FOUNDATION IS TO PROVIDE SUPPORT AND FUNDING FOR EMERGING ARTISTS, ESPECIALLY IN THE FIELD OF SCULPTURE. THE LIU SHIMING ART FOUNDATION PROVIDES SEED DONATIONS TO SET UP A LIU SHIMING SCHOLARS FUND AT UNIVERSITIES AND INSTITUTIONS AROUND THE WORLD. THE RECIPIENT INSTITUTIONS REWARD SCHOLARSHIPS ON AN ANNUAL BASIS TO THOSE WITH DEMONSTRATED FINANCIAL NEED, WHO SHOW PROMISE IN THE FIELD OF ART, HISTORY, AND MULTICULTURAL STUDIES. LIU SHIMING ART FOUNDATION SEEKS TO IDENTIFY COLLEGES AND UNIVERSITIES WITH A PREFERENCE FOR THOSE COLLEGES AND UNIVERSITIES WITH AN ART SCHOOL, SCULPTURE MAJOR OR CULTURAL STUDY DEPARTMENT FOR FUNDING OF THESE SCHOLARS FUNDS. ONCE FUNDS ARE GRANTED THE COLLEGE/UNIVERSITY WILL BE RESPONSIBLE FOR CHOOSING RECIPIENTS OF FUNDS AND THE FOUNDATION WILL REQUEST AND RETAIN FUND RECIPIENTS INFORMATION. AMENDED FORM 990, PAGE 1: THE ORIGINAL RETURN WAS PREPARED AND FILED USING UNAUDITED FINANCIAL INFORMATION. THIS RETURN IS BEING AMENDED TO REFLECT THE INFORMATION AS REPORTED ON THE AUDITED FINANCIAL STATEMENTS. CHANGES TO FORM 990 ARE AS FOLLOWS: AS ORIGINALLY FILED: AS AMENDED: PART I, LINE 8: $703,013 $703,013 CONTRIBUTION PART I, LINE 9: 713,890 847,700 PROGRAM PART 1, LINE 10: 0 0 INVESTMENT PART I, LINE 11: 109,925 0 OTHER PART I, LINE 12: $1,526,828 $1,550,713 TOTAL REVENUE PART I, LINE 13: 647,202 683,974 GRANTS PAID PART I, LINE 15: 0 122,586 COMPENSATION PART I, LINE 17: 273,398 174,697 OTHER EXPENSES PART I, LINE 18: 920,600 981,257 TOTAL EXPENSES PART I, LINE 19: ($606,228) ($569,456) REV LESS EXP PART I, LINE 20: 320,610 320,610 TOTAL ASSETS PART I, LINE 21: 818 53,250 TOTAL LIAB. PART I, LINE 22: 319,792 267,360 NET ASSETS CHANGES TO BALANCE SHEET, REVENUE AND EXPENSES ARE REFLECTED THROUGHOUT THE AMENDED RETURNS AND SUPPLEMENTAL SCHEDULES. 990, PAGE 7, PART VII, SECTION A: ADDED OFFICER BENEFITS. REVISED SCHEDULE B - ADDITIONAL DONORS. SCHEDULE F, PART 1, LINE 3: ADDITIONAL FOREIGN GRANT OF $5,300. FORM 990 PART IX, LINE 1 AND SCHEDULE I PART II (GRANTS PAID TO DOMESTIC ORGANIZATIONS): AS ORIGINALLY FILED: $410,270 AS AMENDED: $425,310 FORM 990 PART IX, LINE 2 AND SCHEDULE I PART III (GRANTS PAID TO DOMESTIC INDIVIDUALS): AS ORIGINALLY FILED: $19,500 AS AMENDED: $35,932 FORM 990 PART IX, LINE 1 AND SCHEDULE F PART I (GRANTS PAID TO FOREIGN ORGANIZATIONS): AS ORIGINALLY FILED: $217,432 AS AMENDED: $222,732 FORM 990, PART VI, SECTION B, LINE 11B THE PREPARED FORM 990 IS REVIEWED AND APPROVED BY THE MEMBERS OF THE GOVERNING BODY BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY. FORM 990, PART XII, LINE 2C: NO CHANGES HAVE TAKEN PLACE DURING THE FISCAL YEAR ENDED DECEMBER 31, 2023.