Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $440,878

• 1c · Fundraising events

  $687,771

• 1e · Government grants (contributions)

  $2,939,494

• 1f · All other contributions, gifts and grants

  $20,765,732

• 1g · Noncash contributions included above

  $5,816,432

• 2a · Program service revenue: EXHIBITIONS, MOVING IMAGE, EDUCAT

  total $1,452,851 · related or exempt $1,452,851

• 2b · Program service revenue: MUSEUM ADMISSIONS

  total $840,304 · related or exempt $840,304

• 2c · Program service revenue: PERFORMING ARTS

  total $209,907 · related or exempt $209,907

• 2d · Program service revenue: OTHER INCOME

  total $106,824 · related or exempt $106,824

• 3 · Investment income

  total $6,780,449 · excluded $6,780,449

• 5 · Royalties

  total $3,099 · excluded $3,099

• 6a · Gross rents

  real property $1,024,367

• 6b · Less rental expenses

  real property $574,162

• 6c · Rental income or loss

  real property $450,205

• 6d · Net rental income or loss

  total $450,205 · related or exempt $66,300 · unrelated business -$167,564 · excluded $551,469

• 7a · Gross sales of assets other than inventory

  securities $15,633,687 · other assets $3,660,591

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $15,633,687 · other assets $3,660,591

• 7d · Net gain or loss

  total $19,294,278 · excluded $19,294,278

• 8a · Fundraising events: gross income

  $376,800

• 8a · Fundraising events: contributions included on line 1c

  $687,771

• 8b · Fundraising events: direct expenses

  $786,042

• 8c · Net income from fundraising events

  total -$409,242 · excluded -$409,242

• 10a · Gross sales of inventory

  $466,473

• 10b · Cost of goods sold

  $510,651

• 10c · Net income from sales of inventory

  total -$44,178 · related or exempt -$44,178

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,526,441 · program services $686,039 · management and general $563,578 · fundraising $276,824

• 7 · Other salaries and wages

  total $9,944,282 · program services $6,992,862 · management and general $2,046,709 · fundraising $904,711

• 8 · Pension plan contributions

  total $528,748 · program services $361,152 · management and general $114,171 · fundraising $53,425

• 9 · Other employee benefits

  total $978,298 · program services $498,376 · management and general $478,680 · fundraising $1,242

• 10 · Payroll taxes

  total $881,071 · program services $608,525 · management and general $189,516 · fundraising $83,030

• 11b · Fees: legal

  total $302,419 · management and general $302,419

• 11c · Fees: accounting

  total $129,742 · management and general $129,742

• 11d · Fees: lobbying

  total $36,152 · management and general $36,152

• 11e · Fees: professional fundraising services

  total $100,377 · fundraising $100,377

• 11f · Fees: investment management

  total $1,636,512 · management and general $1,636,512

• 11g · Fees: other

  total $4,172,618 · program services $2,614,554 · management and general $1,521,061 · fundraising $37,003

• 12 · Advertising and promotion

  total $711,947 · program services $693,373 · management and general $6,470 · fundraising $12,104

• 13 · Office expenses

  total $1,017,436 · program services $837,812 · management and general $119,296 · fundraising $60,328

• 16 · Occupancy

  total $1,097,782 · program services $812,315 · management and general $274,167 · fundraising $11,300

• 17 · Travel

  total $670,933 · program services $565,219 · management and general $57,495 · fundraising $48,219

• 19 · Conferences, conventions and meetings

  total $25,174 · program services $12,804 · management and general $6,740 · fundraising $5,630

• 22 · Depreciation, depletion and amortization

  total $3,338,104 · program services $2,356,491 · management and general $981,613

• 23 · Insurance

  total $289,457 · program services $207,410 · management and general $82,047

• 24a · Other expenses: ART ACQUISITIONS

  total $2,251,532 · program services $2,251,532

• 24b · Other expenses: PACKING AND SHIPPING

  total $1,340,781 · program services $1,313,242 · management and general $5,315 · fundraising $22,224

• 24c · Other expenses: HOSPITALITY AND ENTERTA

  total $431,679 · program services $244,075 · management and general $84,811 · fundraising $102,793

• 24d · Other expenses: SERVICE CHARGES

  total $91,837 · program services $46,625 · management and general $16,988 · fundraising $28,224

• 24e · All other expenses

  total $281,004 · program services $111,012 · management and general $145,867 · fundraising $24,125

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $764,951 · end of year $701,562

• 2 · Savings and temporary cash investments

  beginning of year $15,304,110 · end of year $19,365,777

• 3 · Pledges and grants receivable

  beginning of year $17,104,763 · end of year $17,016,624

• 4 · Accounts receivable

  beginning of year $4,146,047 · end of year $2,639,530

• 8 · Inventories for sale or use

  beginning of year $404,667 · end of year $436,174

• 9 · Prepaid expenses and deferred charges

  beginning of year $241,206 · end of year $374,980

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

  $125,581,341

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

  $70,483,089

• 10c · Land, buildings and equipment, net

  beginning of year $57,834,613 · end of year $55,098,252

• 12 · Investments: other securities

  beginning of year $313,766,793 · end of year $353,158,567

• 15 · Other assets

  beginning of year $144,121 · end of year $207,930

• 17 · Accounts payable and accrued expenses

  beginning of year $1,904,174 · end of year $2,453,399

• 19 · Deferred revenue

  beginning of year $117,048 · end of year $143,878

• 25 · Other liabilities

  beginning of year $2,068,104 · end of year $1,600,890

• 27 · Net assets without donor restrictions

  beginning of year $111,485,974 · end of year $118,061,008

• 28 · Net assets with donor restrictions

  beginning of year $294,135,971 · end of year $326,740,221

The filer's explanations (Part III)

PART I, LINE 1A

HENRIETTE HULDISCH, CHIEF CURATOR, RECEIVED A GROSS-UP BONUS PAYMENT DURING CALENDAR YEAR 2024. THIS BONUS WAS CONSIDERED TAXABLE COMPENSATION TO THE INDIVIDUAL.

PART I, LINE 7

INDIVIDUALS EMPLOYED BY WALKER ART CENTER ARE ELIGIBLE FOR A DISCRETIONARY ONE-TIME BONUS BASED ON THEIR PERFORMANCE IN ANY GIVEN FISCAL YEAR.