Overview
What is The Studio Museum In Harlem?
The Studio Museum in Harlem, located at 144 West 125th Street in New York City, is a contemporary art museum dedicated to showcasing and championing artists of African descent. With a workforce of 125 employees, the organization offers curatorial projects that reflect its commitment to diverse perspectives in contemporary art, providing fresh insights for the community. In 2022, the museum presented various exhibitions, maintaining its position at the forefront of the contemporary art world. Their Artist-in-Residence program supports early-career artists, offering mentorship, a stipend, and a culminating exhibition. The Studio Museum serves as a unique resource, providing a context to engage with contemporary and historical issues through art created by artists of African descent.
Official website here: www.studiomuseum.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (50%)
The Studio Museum In Harlem has received a one-star rating from Charity Navigator, indicating significant concerns regarding its financial health and operational efficiency. While the organization boasts a fully independent board and strong governance practices, its financial metrics suggest struggles with accountability, as evidenced by low scores in program expenses and fundraising efficiency.
The charity's accountability and finance score of 50% highlights the challenges it faces in maximizing the impact of its resources. Specifically, it has a program expense ratio of only 48.33%, meaning less than half of its expenditures are directed toward its programs. Additionally, the fundraising efficiency ratio indicates that only $0.06 is raised for every dollar spent, raising questions about its fundraising strategies and overall sustainability.
Despite strong governance and oversight measures, the financial ratios reveal a concerning imbalance between income and expenditures, which could hinder the organization’s long-term viability and effectiveness in fulfilling its mission. Addressing these financial challenges will be crucial for The Studio Museum In Harlem to enhance its impact and secure a more favorable rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is The Studio Museum In Harlem legitimate?
The Studio Museum In Harlem is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Studio Museum In Harlem submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,222,054
Professional Fundraising Fees: $228,450
Other Salaries and Wages: $3,908,100
For more financial information, click here
Official website here: www.studiomuseum.org
What is the mission statement of The Studio Museum In Harlem?
The Studio Museum In Harlem serves as a contemporary art museum, dedicated to showcasing the works of artists of African descent and those influenced by African culture, both past and present. The institution's mission is to provide a unique platform for these artists and their work, making art and exhibitions personal and relevant to each viewer. Through its exhibitions, artist-in-residence programs, education and public programming, permanent collection, and archival and research facilities, The Studio Museum In Harlem aims to address contemporary and historical issues presented through art, created by artists of African descent. The museum is committed to being a valuable resource to its local community and to national and international arenas.
Official website here: www.studiomuseum.org
Who is the CEO of The Studio Museum In Harlem?
Raymond J Mcguire is the Chairman of The Studio Museum In Harlem.
Official website here: www.studiomuseum.org
What is the revenue of The Studio Museum In Harlem?
The Studio Museum In Harlem's revenue in 2022 was $59,914,680.
Official website here: www.studiomuseum.org
Who are the executives of The Studio Museum In Harlem and what are their salaries?
The average compensation at The Studio Museum In Harlem during 2022 was $41,041. There are 125 employees and 26 volunteers at The Studio Museum In Harlem.
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Official website here: www.studiomuseum.org
Where can I find the form 990 for The Studio Museum In Harlem?
The Studio Museum In Harlem's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.studiomuseum.org
Learn more at the official website: www.studiomuseum.org
Mission Statement of The Studio Museum In Harlem
The Studio Museum in Harlem, a contemporary art museum, is dedicated to showcasing the works of artists of African descent and those inspired by African culture, both past and present. Established as a unique resource, the museum presents exhibitions, artist-in-residence programs, education and public programming, and maintains a permanent collection and archival and research facilities. The institution serves as a nexus for artists and their creations that reflect the richness and complexity of Black culture. By making art and exhibitions concrete and personal for each viewer, the Studio Museum in Harlem provides a context for addressing contemporary and historical issues through the lens of art created by artists of African descent. The museum is committed to serving its local community, as well as national and international arenas, and strives to create an engaging and enriching experience for all visitors.
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Impact
October, 2024
The Studio Museum in Harlem serves as a vital nexus for artists of African descent, fostering a rich dialogue around Black culture and contemporary art. By presenting exhibitions that highlight fresh perspectives and diverse artistic expressions, the museum champions both emerging and established artists, enriching the cultural tapestry of the community and beyond.
Its Artist-in-Residence program offers critical support for early-career artists through mentorship, stipends, and culminating exhibitions, ensuring that new voices in the art world are nurtured and showcased. Furthermore, the museum's commitment to expanding its permanent collection and providing accessible archival resources enhances the understanding and appreciation of the contributions of Black artists throughout history and in contemporary contexts.
By engaging local, national, and international audiences, The Studio Museum activates crucial conversations around contemporary and historical issues through art. Its educational and public programming creates a space for community interaction, making art tangible and personal, and solidifying the museum's role as a unique resource that fosters cultural exchange and artistic innovation.
This information is meant to be a general summary of The Studio Museum In Harlem. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,165,989
- Program Service Revenue: $72,000
- Gross Receipts: $87,745,030
Assets and Liabilities:
- Total Assets: $196,634,585
- Total Liabilities: $13,746,362
- Net Assets: $182,888,223
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EXHIBIT LOAN FEES
Revenue
$72,000
Organization Details
Founding Year
1966
Phone
(212) 864-4500Principal Officer
Raymond J Mcguire
Main Address
144 WEST 125TH STREET, NEW YORK, NY, 10027
Website
www.studiomuseum.orgNTEE Category
Code: A500 - Arts
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