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← SUPPORTING ORGANIZATION FOR THE GEORGIA OKEEFFE MUSEUM

Form 990 for tax year 2023

Filed by SUPPORTING ORGANIZATION FOR THE GEORGIA OKEEFFE MUSEUM.

Totals

Total revenue
$10,503,413
Total expenses
$1,147,250
Contributions and grants received
$8,507,100
Grants paid
$0
Program service revenue
$0
Investment income
$1,996,313
Other revenue
$0
Total assets, end of year
$76,300,659
Total liabilities, end of year
$4,670,895
Net assets or fund balances, end of year
$71,629,764
Program services expenses (Part IX)
$592,859
Management and general expenses
$106,341
Fundraising expenses
$448,050
Program service expenses (Part III)
$592,859

Program services were 51.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $4,000,000

  • 1f · All other contributions, gifts and grants

    $4,507,100

  • 3 · Investment income

    total $1,720,171 · excluded $1,720,171

  • 7a · Gross sales of assets other than inventory

    securities $557,681

  • 7b · Less cost or other basis and sales expenses

    securities $281,539

  • 7c · Gain or loss

    securities $276,142

  • 7d · Net gain or loss

    total $276,142 · excluded $276,142

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $227,284 · program services $9,066 · management and general $12,688 · fundraising $205,530

  • 8 · Pension plan contributions

    total $3,889 · fundraising $3,889

  • 9 · Other employee benefits

    total $37,157 · program services $1,178 · management and general $1,648 · fundraising $34,331

  • 10 · Payroll taxes

    total $18,137 · program services $723 · management and general $1,013 · fundraising $16,401

  • 11e · Fees: professional fundraising services

    total $96,000 · fundraising $96,000

  • 11f · Fees: investment management

    total $150 · management and general $150

  • 11g · Fees: other

    total $679 · program services $88 · management and general $123 · fundraising $468

  • 13 · Office expenses

    total $26,237 · program services $8 · management and general $1 · fundraising $26,228

  • 14 · Information technology

    total $1,030 · fundraising $1,030

  • 16 · Occupancy

    total $215,519 · program services $170,260 · management and general $34,483 · fundraising $10,776

  • 17 · Travel

    total $27,589 · fundraising $27,589

  • 22 · Depreciation, depletion and amortization

    total $482,259 · program services $403,532 · management and general $54,614 · fundraising $24,113

  • 23 · Insurance

    total $10,132 · program services $8,004 · management and general $1,621 · fundraising $507

  • 24a · Other expenses: SUPPLIES

    total $1,188 · fundraising $1,188

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $282,148 · end of year $854,327

  • 2 · Savings and temporary cash investments

    beginning of year $20,725,008 · end of year $26,124,024

  • 3 · Pledges and grants receivable

    beginning of year $5,333,566 · end of year $6,448,535

  • 10a · Land, buildings and equipment: cost or other basis

    $24,403,514

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,622,955

  • 10c · Land, buildings and equipment, net

    beginning of year $18,690,177 · end of year $20,780,559

  • 11 · Investments: publicly traded securities

    beginning of year $18,827,227 · end of year $19,994,185

  • 12 · Investments: other securities

    beginning of year $1,539,407 · end of year $1,621,105

  • 15 · Other assets

    beginning of year $0 · end of year $477,924

  • 17 · Accounts payable and accrued expenses

    beginning of year $227,479 · end of year $342,182

  • 25 · Other liabilities

    beginning of year $2,816,008 · end of year $4,328,713

  • 27 · Net assets without donor restrictions

    beginning of year $27,322,100 · end of year $33,075,886

  • 28 · Net assets with donor restrictions

    beginning of year $35,031,946 · end of year $38,553,878

Mission and programs · 2023

Mission

THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE GEORGIA O'KEEFFE MUSEUM.

Activities or mission (Part I)

TO SUPPORT AND PERFORM FUNCTIONS OF THE GEORGIA O'KEEFFE MUSEUM

  • TO SUPPORT, PERFORM THE FUNCTIONS OF, OR CARRY OUT THE PURPOSES AND CARE OF THE GEORGIA O'KEEFFE MUSEUM AND ITS COLLECTIONS. THE FOUNDATION IS PLAYING AN INTEGRAL ROLE IN THE DEVELOPMENT OF THE CAPITAL CAMPAIGN FOR A PROPOSED NEW MUSEUM. IN 2021, THE MUSEUM ANNOUNCED THE BOLD AND INCLUSIVE VISION TO CREATE A REIMAGINED WORLD-CLASS MUSEUM FACILITY AND COMMUNITY GREEN SPACE. THE NEW PLANNED MUSEUM BUILDING IS 54,000 SQUARE FEET ON A ONE-ACRE LOT.

    Expenses $592,859

As filed on the 2023 return.

Listed in Part VII

  • Jane Bagwell

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2.3 related

  • David Warnock

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2.3 related

  • Michael Cannon

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    2.3

  • Jack Kinzie

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Roxanne Decyk

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 200 W MARCY LLC

    REAL ESTATE HOLDING · NM · income $0 · assets $4,257,648

    Directly controlled by THE O'KEEFFE MUSEUM FOUNDATION

  • 123-135 GRANT LLC

    REAL ESTATE HOLDING · NM · income $0 · assets $19,908,024

    Directly controlled by THE O'KEEFFE MUSEUM FOUNDATION

  • 310 MCKENZIE LLC

    REAL ESTATE HOLDING · NM · income $0 · assets $671,200

    Directly controlled by THE O'KEEFFE MUSEUM FOUNDATION

  • 217 JOHNSON LLC

    REAL ESTATE HOLDING · NM · income $0 · assets $0

    Directly controlled by THE O'KEEFFE MUSEUM FOUNDATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GOKM INNOVATIONS INC

    C · CONSERVATION PRODUCT DEVELOPMENT · DE · 100% owned · share of income -$82,648 · controlled entity

    Directly controlled by THE O'KEEFFE MUSEUM FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
6 August 2024
IRS schema version
2023v5.1
Source object
202402409349301695

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