Mark Russo, CEO of Foundation Michelangelo Corp, is preparing the company for an anticipated Initial Public Offering (IPO) in 2018. The fine art company provides high-end limited-edition bronze sculptures for charity fundraising events as well as creating and distributing its world-class images to fine art galleries in the United States. The subject matter of these pieces ranges from wildlife themes to historical, cultural, western, and biblical.
Foundation Michelangelo has amassed a master mold collection of more than 700 original works of art including many works from world-famous artists, Lorenzo Ghiglieri and Laran Ghiglieri, as well as master molds that originated from the Vatican and the Villa Borghese Museum in Rome. Bernini and Michelangelo are also among the artists that are included in the mold collection.
The company has a strong focus on philanthropy. One of their main business divisions is their charity auction program, which provides fine art pieces for fundraising events and auctions. The unique business model sets the company apart from the rest. Russo created this innovative model in 1998 by placing valuable bronze castings into gala charity fundraising events and giving 50 percent of the final sales price of the pieces to the nonprofit with no strings attached. The first piece sold for $63,000. This model has subsequently created tens of millions of dollars in revenue for the nonprofits.
“Foundation Michelangelo Corp is now positioned to be the sole provider of high-end bronze sculptures for nonprofit actions throughout the United States,” says Russo. “With more than 600,000 live charity auctions per year, and growing daily, the ability for Foundation Michelangelo Corp to scale its auction model is beyond exciting for just one of its profit centers.”
Foundation Michelangelo has had a third party independently appraise its mold collection at more than $900 million. This asset of master molds took more than 35 years to create and is truly irreplaceable. Currently, Foundation Michelangelo Corp has no debt and has successfully completed its first round of equity finance of $1million.
To learn more about the company and its work with nonprofits, visit Fineart1.com.
About Foundation Michelangelo Corp
Foundation Michelangelo Corp has a diverse business platform, creating and providing fine art in original sculptures from small desktop images and collectibles to larger than life heroic monuments. The company’s master mold collection contains hundreds of original molds from world-famous artists in the United States and Europe. For more information, visit Fineart1.com.
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