2026-05-15T12:32:47-05:00 2025-06-30 393647910 WIPFLI ADVISORY LLC 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-07-01 232249360 SAMUEL S FLEISHER ART MEMORIAL INC SAMU 2159223456 PO BOX 7646 PHILADELPHIA PA 191017646 MONICA ZIMMERMAN EXECUTIVE DIRECTOR 2159223456 2026-05-14 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2026-05-13 2024 2025-03-06 01:10:19Z FLEISHER ART MEMORIAL MONICA ZIMMERMAN PO BOX 7646 PHILADELPHIA PA 191017646 3414180 0 X WWW.FLEISHER.ORG X 1983 PA OPERATE AND MAINTAIN A SCHOOL OF ART AND COMMUNITY CENTER. 11 11 208 29 0 0 2330310 1592707 1068062 1331274 230442 193358 102573 102753 3731387 3220092 0 0 0 0 2318583 2239962 0 0 232044 1107036 846373 3425619 3086335 305768 133757 21399823 22764608 1320610 869859 20079213 21894749 FLEISHER IS A VIBRANT COMMUNITY ANCHOR FOR THE ARTS IN PHILADELPHIA THAT PROVIDES ECONOMICALLY AND CULTURALLY ACCESSIBLE CLASSES, PROGRAMS, AND EVENTS THAT SERVE THE BROADEST POSSIBLE AUDIENCE. 0 0 2283253 0 1263702 YEAR-ROUND LOW-COST AND TUITION-FREE STUDIO CLASSES ONSITE AND ONLINE FOR ADULTS AND YOUTH, AND FREE DROP-IN PROGRAM FOR TEENS. 135047 0 3356 EXHIBITIONS OF JURIED LOCAL PROFESSIONAL ARTISTS, FACULTY AND STUDENTS, AND RELATED PROGRAMMING. 75155 0 64216 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. 2493455 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 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 41 0 208 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X CHENORA BURKETT 2156847710 26TH BEN FRANKLIN PARKWAY PHILADELPHIA PA 19130 MELISSA BLANTON PRESIDENT 1.00 X X 0 0 0 KEVIN DOW VICE PRESIDENT (THRU DEC 2024) 1.00 X X 0 0 0 JASON PRUNTY VICE PRESIDENT 1.00 X X 0 0 0 RAYMOND PERKINS TREASURER (THRU MARCH 2025) 1.00 X X 0 0 0 SHANNON MALDONADO SECRETARY 1.00 X X 0 0 0 BARBARA BECK BOARD MEMBER 1.00 X 0 0 0 WILLIAM BECKER BOARD MEMBER 1.00 X 0 0 0 LINDSAY BEDFORD BOARD MEMBER (THRU MAY 2025) 1.00 X 0 0 0 HUWAYDA FAKHRY BOARD MEMBER 1.00 X 0 0 0 TANYA LATORTUE BOARD MEMBER 1.00 X 0 0 0 BILL MEINEL BOARD MEMBER 1.00 X 0 0 0 SHARON M PLACE BOARD MEMBER 1.00 X 0 0 0 DAVID REINHARDT BOARD MEMBER 1.00 X 0 0 0 NICOLE SANSONE RUIZ BOARD MEMBER 1.00 X 0 0 0 LINDSEY SCANNAPIECO BOARD MEMBER (THRU SEP 2024) 1.00 X 0 0 0 NANCY SHELL BOARD MEMBER (THRU FEB 2025) 1.00 X 0 0 0 MONICA ZIMMERMAN EXECUTIVE DIRECTOR 35.00 X 159440 0 13037 159440 0 13037 1 0 1 0 CARDULLO MECHANICAL LLC 703 CHRISTIAN STREET PHILADELPHIA PA 19147 CONSTRUCTION 103435 1 104050 23000 500000 88240 877417 1592707 LAB & WORKSHOP 900099 1185786 1185786 FEES FOR SERVICES 900099 100258 100258 MODEL FEES 900099 45230 45230 1331274 45398 45398 92942 0 92942 92942 92942 317974 8497 178511 0 139463 8497 147960 147960 12448 23000 15577 -3129 -3129 12940 0 12940 12940 3220092 1331274 0 296111 172477 56917 56917 58643 1631342 1422502 103571 105269 36173 30140 2993 3040 251627 198287 26404 26936 148343 122194 12938 13211 65004 65004 18748 18748 13899 2889 11010 99389 49770 26784 22835 1982 1982 93863 85399 8464 55669 55669 55556 53948 1275 333 7425 7425 14729 14729 123463 119891 2833 739 97351 94534 2234 583 CLASSROOM MATERIALS 86838 86838 REPAIRS & MAINTENANCE 79443 73770 5218 455 MERCHANDISE & ARTWORK S 19880 19880 MEMBERSHIPS 4738 4738 8396 4116 4280 3086335 2493455 360836 232044 500 31688 1031447 963991 0 312644 258914 52316 4895995 4393240 746331 502755 6162917 6380459 13199714 14520755 21399823 22764608 902202 445639 418408 424220 1320610 869859 X 5284856 5366819 14794357 16527930 20079213 21894749 21399823 22764608 X 133757 66089 425288 1190402 X X 0 1 X 1 0 X 1520093 1814610 1821610 2330310 1592707 9079330 685818 1052512 961048 1068062 1331274 5098714 12940 12940 2205911 2867122 2782658 3398372 2936921 14190984 619225 597914 406574 532960 500000 2656673 0 619225 597914 406574 532960 500000 2656673 11534311 64365 96958 124677 105198 138340 529538 64365 96958 124677 105198 138340 529538 21231 21231 80 9980 26925 36985 2270356 2974060 2907335 3551726 3075261 14778738 0.78050 0.88020 0.03580 0.01860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6162917 23000 512516 317974 6380459 5425598 511850 519956 294487 6162917 5207872 108525 387845 278643 5425599 5872857 15900 -404901 275983 5207873 4538253 156629 1437139 259164 5872857 0.77755 0.18212 0.04033 1 0 4582431 4120092 462339 313564 273148 40416 502755 FIXED-INCOME SECURITIES 1386618 F COMMINGLED STOCK FUNDS 8429897 F SHORT-TERM INVESTMENT FUNDS 793660 F MUTUAL FUNDS 3910580 F 14520755 X 3290748 66089 66089 3224659 11010 -15577 -4567 3220092 3090902 15577 15577 3075325 11010 11010 3086335 PART V, LINE 4: THE ORGANIZATION'S INVESTMENTS TOTALING $6,380,459 AS OF JUNE 30, 2025, ARE HELD AND MANAGED BY THE MUSEUM THROUGH THE MUSEUM ENDOWMENT PORTFOLIO (MEP). THE MUSEUM MANAGES THE ENDOWMENT INVESTMENTS IN A POOLED INVESTMENT ACCOUNT, AND THE ORGANIZATION'S INVESTMENTS ARE COMMINGLED WITH ENDOWMENT FUNDS OF THE MUSEUM, WHICH MAINTAIN SEPARATE UNITIZED FUNDS. INVESTMENT EARNINGS ARE ALLOCATED TO THE ORGANIZATION BASED ON ITS INTEREST IN THE UNITIZED VALUE OF ITS INVESTMENTS ON A MONTHLY BASIS. AS OF JUNE 30, 2025, FLEISHER OWNS APPROXIMATELY 1% OF THE TOTAL INVESTMENT PORTFOLIO OF $592.2 MILLION, OR $6.2 MILLION. WITHIN THE MEP, INVESTMENT HOLDINGS INCLUDE INVESTMENTS IN BOTH NONMARKETABLE AND MARKET-TRADED SECURITIES. NONMARKETABLE SECURITIES INCLUDE INVESTMENTS IN PRIVATE EQUITY, REAL ASSETS, HEDGE FUNDS, AND OTHER INVESTMENT VEHICLES. THE MUSEUM HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ARE INTENDED TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. TO SATISFY ITS LONG-TERM RATE OF RETURN OBJECTIVES, THE MUSEUM RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION AND CURRENT YIELD. THE MUSEUM'S INVESTMENT POLICY INCLUDES A TARGET ASSET ALLOCATION, WELL DIVERSIFIED AMONG SUITABLE ASSET CLASSES, THAT IS EXPECTED TO GENERATE, ON AVERAGE, THE LEVEL OF EXPECTED RETURN NECESSARY TO MEET ENDOWMENT OBJECTIVES AT A RESPONSIBLE LEVEL OF VOLATILITY CONSISTENT WITH ACHIEVING THAT RETURN. ACCORDING TO THE MUSEUM'S SPENDING POLICY, A PORTION OF THE TOTAL INVESTMENT RETURN DERIVED FROM INVESTMENTS IS AVAILABLE TO SUPPORT CURRENT ACTIVITIES, WHILE THE REMAINDER IS REINVESTED. UNDER THIS SPENDING POLICY, ANNUAL DISTRIBUTIONS ARE BASED ON THE PRIOR YEAR SPENDING PLUS 3.0%, SUBJECT TO A FLOOR OF 4.5% AND A CEILING OF 5.25%, OF THE AVERAGE FAIR MARKET VALUE OF ENDOWMENT ASSETS AT THE END OF THE THREE PRECEDING YEARS. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE. ACCORDINGLY, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. MANAGEMENT HAS REVIEWED TAX POSITIONS TAKEN IN FILINGS WITH FEDERAL AND STATE JURISDICTIONS AND BELIEVES THOSE POSITIONS WOULD BE SUSTAINED SHOULD THE FILINGS BE EXAMINED BY THE RELEVANT TAXING AUTHORITY. OPEN PERIODS SUBJECT TO AUDIT FOR FEDERAL PURPOSES ARE GENERALLY THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -15,577. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 15,577. PART VI, LINE 1: 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, LINE 3: 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. FOUNDERS EVENT 35448 23000 12448 12530 500 2547 35448 23000 12448 12530 500 2547 15577 -3129 X X 0 0 0 0 0 0 0 0 0 MONICA ZIMMERMAN EXECUTIVE DIRECTOR 159440 0 0 0 0 0 4862 0 8175 0 172477 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF FUNDS HELD IN TRUST BY OTHERS 1,321,041. IMPAIRMENT LOSS ON CONSTRUCTION IN PROGRESS -130,639. FORM 990, PART XII, LINE 2: THE ORGANIZATION FINANCIAL STATEMENTS WERE UNDERGOING AN AUDIT AT THE TIME OF FILING THE 2024 FORM 990. SAMUEL S FLEISHER 9 RESIDUARY 1650 MARKET STREET SUITE 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 500000 COST