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Liu Shiming Art Foundation

EIN 87-2425228 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair52 out of 100GovernanceFair61 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$1.4 million
Spending
$1.4 million
Spent on programs
81%
Reserves
2.1 months of spending
Largest source of income
donations and private grants, 72%
Employees
6
Volunteers
1

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 52 out of 100. Higher than 23% of charities in its peer group (arts and culture, $1m to $10m).

  • Reserves

    10 of 35

    Spendable reserves would cover 2.1 months of spending.

  • Debt

    5 of 20

    It owes 73% of what it owns.

  • Living within its means

    12 of 15

    Income exceeded spending by 0% of income.

  • Income trend

    10 of 15

    Income fell 7% on the year before.

  • Spending floor

    15 of 15

    81% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 61 out of 100. Higher than 13% of charities in its peer group (arts and culture, $1m to $10m).

  • Independent board

    18 of 25

    3 of 3 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $524,510 spent. SUPPORTING FUTURE GENERATIONS OF ARTISTS AND ARTHISTORIANS: IN 2024, THE FOUNDATION PROVIDED SCHOLARSHIP FUNDING FORUNDERGRADUATE AND GRADUATE STUDENTS OF STUDIO ARTS OR ART HISTORY AT 13UNIVERSITIES LOCATED IN TWO STATES AND 11 COUNTRIES IN AFRICA, CANADA,EUROPE, THE MIDDLE EAST, AND OCEANIA. FUNDING INCLUDED PERMANENTENDOWMENTS, MULTI-YEAR GRANTS, AND ONE-TIME SCHOLARSHIP AWARDS. INADDITION, THE FOUNDATION PROVIDED SIX EARLY CAREER ARTISTS WITH INDIVIDUALGRANTS.
  2. $639,337 spent. PRESERVING & PROMOTING ARTISTIC LEGACY OF LIU SHIMING:IN 2024, THE FOUNDATION ORGANIZED TWO EXHIBITIONS AT THE LIU SHIMINGART GALLERY, SUPPORTED TWO ADDITIONAL EXHIBITIONS ORGANIZED INPARTNERSHIP WITH THE UNIVERSITY OF NEBRASKA AT LINCOLN AND QUEEN'SUNIVERSITY IN CANADA, AND PROVIDED FUNDING FOR A FUTURE EXHIBITION ATARIZONA STATE ART MUSEUM. IN ADDITION, THE FOUNDATION COMMISSIONED AMONOGRAPH AND AWARDED RESEARCH GRANTS TO INDEPENDENT SCHOLARSSTUDYING THE LIFE AND WORK OF LIU SHIMING.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 2023.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.