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← ALBANY MUSEUM OF ART INCORPORATED

Form 990 for tax year 2023

Filed by ALBANY MUSEUM OF ART INCORPORATED.

Totals

Total revenue
$913,658
Total expenses
$963,131
Contributions and grants received
$519,445
Grants paid
$0
Program service revenue
$54,679
Investment income
$313,410
Other revenue
$26,124
Total assets, end of year
$12,227,807
Total liabilities, end of year
$23,430
Net assets or fund balances, end of year
$12,204,377
Program services expenses (Part IX)
$620,618
Management and general expenses
$263,929
Fundraising expenses
$78,584
Program service expenses (Part III)
$620,618

Program services were 64.4% 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.

  • 1b · Membership dues

    $1,425

  • 1c · Fundraising events

    $131,224

  • 1e · Government grants (contributions)

    $27,300

  • 1f · All other contributions, gifts and grants

    $359,496

  • 1g · Noncash contributions included above

    $29,129

  • 2a · Program service revenue: COMMUNITY OUTREACH & EDUCATIO

    total $54,679 · related or exempt $54,679

  • 3 · Investment income

    total $272,460 · excluded $272,460

  • 6a · Gross rents

    real property $17,287

  • 6c · Rental income or loss

    real property $17,287

  • 6d · Net rental income or loss

    total $17,287 · related or exempt $17,287

  • 7a · Gross sales of assets other than inventory

    securities $1,655,148 · other assets $82,408

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

    securities $1,696,606

  • 7c · Gain or loss

    securities -$41,458 · other assets $82,408

  • 7d · Net gain or loss

    total $40,950 · excluded $40,950

  • 8a · Fundraising events: gross income

    $80,618

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

    $131,224

  • 8b · Fundraising events: direct expenses

    $80,618

  • 11a · Other revenue: MISCELLANEOUS

    total $8,837 · related or exempt $8,837

  • 11e · Other revenue, total

    $8,837

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $126,620 · management and general $101,296 · fundraising $25,324

  • 7 · Other salaries and wages

    total $340,964 · program services $310,182 · management and general $18,469 · fundraising $12,313

  • 9 · Other employee benefits

    total $8,666 · program services $4,478 · management and general $2,558 · fundraising $1,630

  • 10 · Payroll taxes

    total $37,215 · program services $24,884 · management and general $9,371 · fundraising $2,960

  • 11b · Fees: legal

    total $1,227 · management and general $1,227

  • 11c · Fees: accounting

    total $18,250 · management and general $18,250

  • 11e · Fees: professional fundraising services

    total $30,525 · fundraising $30,525

  • 11f · Fees: investment management

    total $16,304 · management and general $16,304

  • 12 · Advertising and promotion

    total $142,746 · program services $116,312 · management and general $21,887 · fundraising $4,547

  • 13 · Office expenses

    total $21,283 · management and general $21,283

  • 14 · Information technology

    total $4,248 · management and general $4,248

  • 16 · Occupancy

    total $99,604 · program services $82,650 · management and general $16,954

  • 17 · Travel

    total $6,852 · management and general $6,852

  • 19 · Conferences, conventions and meetings

    total $3,236 · management and general $3,236

  • 22 · Depreciation, depletion and amortization

    total $69,778 · program services $56,467 · management and general $13,311

  • 23 · Insurance

    total $15,912 · program services $13,103 · management and general $2,749 · fundraising $60

  • 24a · Other expenses: OTHER COSTS

    total $13,912 · program services $12,542 · management and general $145 · fundraising $1,225

  • 24b · Other expenses: DUES & FEES

    total $5,451 · management and general $5,451

  • 24c · Other expenses: BOARD EXPENSES

    total $338 · management and general $338

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $81,960 · end of year $69,228

  • 2 · Savings and temporary cash investments

    beginning of year $56,066 · end of year $57,310

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

    $5,511,989

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

    $1,129,380

  • 10c · Land, buildings and equipment, net

    beginning of year $3,643,945 · end of year $4,382,609

  • 11 · Investments: publicly traded securities

    beginning of year $5,703,316 · end of year $5,154,204

  • 13 · Investments: program-related

    beginning of year $2,365,626 · end of year $2,564,456

  • 17 · Accounts payable and accrued expenses

    beginning of year $171,529 · end of year $21,589

  • 25 · Other liabilities

    beginning of year $2,087 · end of year $1,841

  • 27 · Net assets without donor restrictions

    beginning of year $6,761,569 · end of year $7,973,900

  • 28 · Net assets with donor restrictions

    beginning of year $4,915,728 · end of year $4,230,477

Mission and programs · 2023

Mission

THE MUSEUM PROVIDES EXPOSURE TO THE VISUAL ARTS, ENCOURAGES AWARENESS, PARTICIPATION, AND ENJOYMENT OF THE VISUAL ARTS, AND ENHANCES THE QUALITY OF LIFE IN THE SURROUNDING AREA.

  • THE MUSEUM IS GENERALLY OPEN TO THE PUBLIC YEAR ROUND AND AT NO CHARGE. VARIOUS WORKS OF ARTS ARE ON DISPLAY FROM THE MUSEUM'S PERMANENT COLLECTION.

    Expenses $529,944

  • THE MUSEUM BRINGS IN VARIOUS EXHIBITS THROUGHOUT THE YEAR FOR VIEWING BY THE MUSEUM GOING PUBLIC.

    Expenses $53,951 · Revenue $849

  • THE MUSEUM CONDUCTS WORKSHOPS, IS A VENUE FOR PARTYS, HAS FAMILY DAYS, AND A SUMMER ART CAMP.

    Expenses $36,723 · Revenue $53,830

As filed on the 2023 return.

Listed in Part VII

  • Rip Bell 2021-2028

    TRUSTEE-PRES

    Total calculated
    $0
    Hours/week
    0.46

  • Butler Stoudenmire 2021-2027

    TRUSTEE-TREA

    Total calculated
    $0
    Hours/week
    0.46

  • Chazz Williams 2016-2023

    TRUSTEE-PAST

    Total calculated
    $0
    Hours/week
    0.46

  • Summer Cotton 2021-2027

    TRUSTEE-EXEC

    Total calculated
    $0
    Hours/week
    0.46

  • Margaret Puddin Bass 2021-2027

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Meryl K Joiner 2021-2027

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Cathy Darby 2018-2024

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Jeanette Hoopes 2018-2024

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Suresh Lakhenpal 2021-2027

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Bronwyn Bates 2022-2028

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Dr Jeffery Cannon 2023-2029

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Dr Samantha Fields 2023-2029

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Dr Jennifer Williams 2023-2029

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Makeba Wright 2022-2028

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.46

  • Andrew J Wulf

    EXECUTIVE DI

    Total calculated
    $126,619
    From this org
    $122,932
    From related orgs
    $0
    Other
    $3,687
    Hours/week
    40

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.

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.

  • ALBANY MUSEUM PROPERTIES LLC

    REAL PROP · GA

Provenance

Return type
form_990
Tax year
2023
Filed
1 August 2024
IRS schema version
2023v5.0
Source object
202443209349309529

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