Nonprofit · EIN 20-5292405
NARS FOUNDATION INC
Tax-exempt · BROOKLYN, NY 11220
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $370,666 | $394,742 | -$24,076 | $97,017 | $4,048 | $92,969 |
| December 31, 2024 | 990 | $356,367 | $342,945 | $13,422 | $122,812 | $5,767 | $117,045 |
| December 31, 2023 | 990 | $355,287 | $295,561 | $59,726 | $107,768 | $4,145 | $103,623 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $176,532
- Program service revenue
- $194,131
- Investment income
- $3
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $156,497
- Salaries, compensation and benefits (total)
- $169,717
- Professional fundraising fees
- $0
- Legal fees
- $300
- Accounting fees
- $5,600
- Occupancy
- $128,082
- Program services (functional)
- $295,029
- Management and general (functional)
- $99,713
Balance sheet and other
- Total assets, start of year
- $122,812
- Total assets, end of year
- $97,017
- Total liabilities, end of year
- $4,048
- Net assets, end of year
- $92,969
- Net assets without donor restrictions
- $92,969
- Gross receipts
- $370,666
- Employees
- 4
- Year formed
- 2006
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JUNHO LEE | FOUNDING DIRECTOR Trustee or director, Officer | 40 | $67,346 |
| CHONGHUN DANIEL SONG | DIRECTOR Trustee or director | 2 | $0 |
| ED RUBIN | DIRECTOR Trustee or director | 2 | $0 |
| SYLVIA SOYEON KIM | DIRECTOR Trustee or director, Officer | 2 | $0 |
| THOMAS ARNOLD | CHAIR Trustee or director, Officer | 2 | $0 |
| NICHOLAS TOURON | SECRETARY Trustee or director, Officer | 2 | $0 |
| HYEWON YI | DIRECTOR Officer | 7 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JUNHO LEE | FOUNDING DIRECTOR Trustee or director, Officer | 40 | $50,004 |
| CHONGHUN DANIEL SONG | DIRECTOR Trustee or director | 2 | $0 |
| ED RUBIN | DIRECTOR Trustee or director | 2 | $0 |
| SYLVIA SOYEON KIM | DIRECTOR Trustee or director, Officer | 2 | $0 |
| THOMAS ARNOLD | CHAIR Trustee or director, Officer | 2 | $0 |
| NICHOLAS TOURON | SECRETARY Trustee or director, Officer | 2 | $0 |
| HYEWON YI | DIRECTOR Officer | 7 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JUNHO LEE | FOUNDING DIRECTOR Trustee or director, Officer | 40 | $43,002 |
| ED RUBIN | DIRECTOR Trustee or director | 2 | $0 |
| CHONGHUN DANIEL SONG | DIRECTOR Trustee or director | 2 | $0 |
| THOMAS ARNOLD | CHAIR Trustee or director, Officer | 2 | $0 |
| SYLVIA SOYEON KIM | DIRECTOR Trustee or director, Officer | 2 | $0 |
| NICHOLAS TOURON | SECRETARY Trustee or director, Officer | 2 | $0 |
| HYEWON YI | DIRECTOR Officer | 7 | $0 |
Address and contacts
- Address (IRS master file)
- 201 46TH ST 4TH FL, BROOKLYN, NY 11220-1035
- In care of
- % JUNHO LEE
- Principal officer (990 for 2025)
- JUNHO LEE, 201 46TH ST Ste 4FL, Brooklyn, NY 11220
- Signed the 990
- JUNHO LEE, FOUNDING DIRECTOR
- Phone
- (718) 768-2765
- Website
- NARSFOUNDATION.ORG
- Return prepared by
- Sungdoh Accounting & Consulting Inc
Mission
SUPPORTING ARTISTS AND CURATORS ON AN INTERNATIONAL LEVEL AS WELL ENGAGING THE LOCAL COMMUNITY IN BROOKLYN AND THE GREATER NEW YORK AREA. NARS PROVIDES AN ARRAY OF CREATIVE SUPPORT SERVICES AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR EMERGING AND MID-CAREERBROOKLYN AND NY.
Program accomplishments
- STUDIO PROGRAM PROVIDES A CREATIVE AND SUPPORTIVE WORK ENVIRONMENT FOR EMERGING AND MID-CAREER ARTISTS BY PROVIDING AFFORDABLE, LONG-TERM WORK SPACES THAT ARE DESIGNED TO FOSTER MULTICULTURAL DIALOGUE AND DYNAMIC CROSS POLLINATION OF IDEAS AMONG THE ARTISTS IN THE STUDIO PROGRAM AND WITH THE PROFESSIONAL ARTIST COMMUNITY AT LARGE. THE PROGRAM PROVIDES A PLATFORM FOR DEVELOPING, CREATING, AND SHARING CUTTING- EDGE CONTEMPORARY ARTWORKS IN A SUPPORTIVE AND STABLE COMMUNITY. PROFESSIONAL DEVELOPMENT PROGRAMS FOR EMERGING AND UNDERREPRESENTED ARTISTS FROM AROUND THE WORLD THROUGH ITS INTERNATIONAL ARTISTS RESIDENCY PROGRAM, ARTISTS SALONS, AND EXHIBITION PROGRAMS. THE VARIOUS ARTISTS THROUGH SHORT-TERM INTEGRATED RESIDENCY PROGRAMS, AFFORDABLE LONG-TERM STUDIO SPACES, PROGRESSIVE EXHIBITION PROGRAMS, INTERNATIONAL EXCHANGES, AND ENGAGING PUBLIC PROGRAMS THAT FOSTER GLOBAL UNDERSTANDING AND DYNAMIC CROSS-CULTURAL DIALOGUES.Expenses $295,029 · revenue $194,131
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-5292405
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2009
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A20)
- Assets (IRS master file)
- $97,017
- Income (IRS master file)
- $370,666
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $370,666 | $394,742 | $97,017 | IRS |
| 990 | December 2024 | $356,367 | $342,945 | $122,812 | IRS |
| 990 | December 2023 | $355,287 | $295,561 | $107,768 | XML |
| 990 | December 2022 | $286,043 | $278,094 | $65,078 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5292405).
Questions about NARS FOUNDATION INC
- What is the EIN of NARS FOUNDATION INC?
- The employer identification number (EIN) of NARS FOUNDATION INC is 20-5292405.
- Is NARS FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2009.
- Are donations to NARS FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NARS FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NARS FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NARS FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of NARS FOUNDATION INC?
- The 990 for the year ended December 31, 2025 names JUNHO LEE.
- Who are the officers and directors of NARS FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 7 people; 1 received compensation from the organization, the highest $67,346 (JUNHO LEE, FOUNDING DIRECTOR).
- How much revenue does NARS FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $370,666, expenses of $394,742 and total assets of $97,017 at year end.
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