EIN 83-2313143

The Richard Schmid Fine Art Foundation

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Walpole
Year formed
2022
Most recent tax filings
2023-12-01
Description
The Richard Schmid Fine Art Foundation is a private foundation located in Walpole, NH with the purpose of advancing and embodying Richard Schmid's guiding principle of high excellence in art through Stove Prairie Press LLC.
Total revenues
$1,460,073
2023
Total expenses
$381,250
2023
Total assets
$5,818,868
2023
Num. employees
0
2023

Program areas at The Richard Schmid Fine Art Foundation

Stove prairie press llc was created by Richard Schmid to advance and embody his guiding principle of his Art, which was high excellence in all that he did and taught. This entity was contributed to The Richard Schmid Fine Art Foundation to continue The work of publishing and selling The books, videos, lithographs and online offerings of The late Richard Schmid. As part of Richard's wishes The entity is to continue to create new books, videos, lithographs and online offerings embodying his Art and observing The same principles of high excellence Richard embodied. In addition, Richard hoped that this entity would embrace new methods of printing and electronic technology as they are developed to present his Art and values.
The Foundation holds The artwork, digital database, written and oral database in its possession. In accordance with Richard Schmid's wishes, upon death, The Foundation will hold his artwork as it is, to never be sold. The Foundation shall allow for curated exhibitions for The Art, as well as viewings by artists and writers in order to continue to promote his works. The Foundation is responsible for keeping all copyrights up to date and monitor for infringements that may take place. In addition, The Foundation is tasked with continuing to update The digitized database by monitoring galleries, sales and auctions in which Richard's paintings, previously sold during his lifetime, may be found which could be gained for The database. Richard outlined his wishes for limited use of his artwork on The internet and no use for merchandise purposes. The goal is to preserve The integrity of his works while still sharing them with The world.
Interest income from stove prairie press, llc.
Sale of books, videos, lithographs and online offerings

Personnel at The Richard Schmid Fine Art Foundation

NameTitleCompensation
Molly SchmidVice - President$68,000

Financials for The Richard Schmid Fine Art Foundation

RevenuesFYE 12/2023
Total grants, contributions, etc.$1,135,581
Investment income and dividends$23,801
Net rental income$0
Net gain from sale of non-inventory assets$-7,838
Gross sales of inventory$308,529
Miscellaneous revenues$0
Total revenues$1,460,073

Form 990s for The Richard Schmid Fine Art Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-04990PFView PDF
2022-122024-08-20990PFView PDF
2022-122023-11-15990PFView PDF

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Data update history
March 6, 2025
Posted financials
Added Form 990PF for fiscal year 2023
February 27, 2025
Updated personnel
Identified 1 new personnel
September 22, 2024
Used new vendors
Identified 1 new vendor, including
December 26, 2023
Posted financials
Added Form 990PF for fiscal year 2022
December 26, 2023
Updated personnel
Identified 9 new personnel
Nonprofit Types
Private foundationsFamily foundationsPrivate operating foundationsArts, culture, and humanities nonprofitsCharities
Issues
Arts, cultural, and humanities
Characteristics
State / local levelTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
PO Box 999
Walpole, NH 03608
County
Cheshire County, NH
Website URL
richardschmid.com/ 
Phone
(603) 499-3555
IRS details
EIN
83-2313143
Fiscal year end
December
Taxreturn type
Form 990-PF
Year formed
2022
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
A40: Visual Art Organizations, Services
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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