Overview
What is Smh Support Corporation?
Smh Support Corporation is a nonprofit organization situated in New York, specifically at 144 West 125th Street, New York, NY 10027. Their primary role involves holding title to real property that was formerly leased by the Studio Museum in Harlem. In 2022, the existing building was demolished, and construction activities for a new building commenced. Essentially, Smh Support Corporation is supporting the Studio Museum of Harlem by managing real estate assets on its behalf.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star Rating)
Smh Support Corporation has received a Three-Star rating from Charity Navigator, reflecting a score of 75%. This rating is derived solely from the Accountability & Finance beacon, indicating that the organization demonstrates a solid level of transparency and responsible financial management practices. Key strengths include having a fully independent board, with perfect scores in areas such as conflict of interest policies, whistleblower protections, and document retention practices.
The organization's program expense ratio stands at an impressive 66.44%, suggesting that a substantial portion of its resources are directed towards programmatic activities. However, it faces challenges with its liabilities to assets ratio, which is quite high at 98.61%. This could indicate potential financial risks, as it suggests that the organization's liabilities nearly equal its assets, raising concerns about financial sustainability.
Overall, while Smh Support Corporation is commendable in its governance and operational transparency, the high ratio of liabilities compared to assets may warrant caution for potential donors regarding the long-term financial health of the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Smh Support Corporation legitimate?
Smh Support Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Smh Support Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Smh Support Corporation?
Smh Support Corporation serves a unique purpose by holding real estate for the benefit of its related tax-exempt organization, the Studio Museum of Harlem. Specifically, it holds title to property formerly leased by the museum and acts as a borrower of low-interest rate funds for the rehabilitation of this property. In the recent fiscal year 2022, the existing building was demolished, and construction activities for the new building commenced. While Smh Support Corporation does not have a traditional mission statement in the sense of promoting solutions or supporting a specific cause, its role is crucial in providing the necessary resources for the continued operation and development of the Studio Museum of Harlem.
Who is the CEO of Smh Support Corporation?
Rodney Miller is the Principal Officer of Smh Support Corporation.
What is the revenue of Smh Support Corporation?
Smh Support Corporation's revenue in 2022 was $108,515.
Who are the executives of Smh Support Corporation and what are their salaries?
There 4 volunteers at Smh Support Corporation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $321,164
- Other: $54,754
- Compensation: $0
- Related: $213,522
- Other: $17,732
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Smh Support Corporation?
Smh Support Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Smh Support Corporation
Smh Support Corporation, a non-profit organization, is dedicated to supporting its tax-exempt counterpart, the Studio Museum of Harlem. The primary mission of Smh Support Corporation involves holding real estate on its behalf. Specifically, the organization owns the title to a property that was previously leased by the Studio Museum in Harlem. In addition, Smh Support Corporation serves as the borrower of low-interest rate funds, using these funds for the rehabilitation of this property. In the recent fiscal year 2022, the organization saw significant changes to its property. The existing building was demolished, and construction activities for a new building commenced. This continues Smh Support Corporation's ongoing commitment to supporting the Studio Museum of Harlem and promoting its mission in the art and cultural community.
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Impact
October, 2024
Smh Support Corporation plays a crucial role in supporting the Studio Museum in Harlem by managing and holding real estate that facilitates the museum's operations and future development. By holding the title to properties and securing low-interest funds, the organization is instrumental in financing the rehabilitation and construction of new facilities, which are essential for the museum's growth and sustainability. In fiscal year 2022, the demolition of the existing building marked the beginning of a new construction phase, laying the groundwork for a revitalized space that will enhance the museum's ability to celebrate and exhibit the rich contributions of African American artists and culture. This strategic support not only benefits the museum but also contributes to the cultural landscape of Harlem, fostering community engagement and artistic expression.
This information is meant to be a general summary of Smh Support Corporation. 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: $15
- Program Service Revenue: $108,500
- Gross Receipts: $108,515
Assets and Liabilities:
- Total Assets: $9,363,026
- Total Liabilities: $9,317,700
- Net Assets: $45,326
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM-RELATED RENTAL
Revenue
$108,500
Organization Details
Founding Year
2018
Phone
(212) 864-4500Principal Officer
Rodney Miller
Main Address
144 WEST 125TH STREET, NEW YORK, NY, 10027
NTEE Category
Code: A11 - Arts
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