Form 990 for tax year 2024
Filed by ASIAN ART MUSEUM FOUNDATION OF SAN FRANCISCO.
Totals
- Total revenue
- $28,079,494
- Total expenses
- $39,437,939
- Contributions and grants received
- $20,319,541
- Grants paid
- $0
- Program service revenue
- $1,239,267
- Investment income
- $4,103,239
- Other revenue
- $2,417,447
- Total assets, end of year
- $236,314,262
- Total liabilities, end of year
- $72,059,838
- Net assets or fund balances, end of year
- $164,254,424
- Program services expenses (Part IX)
- $26,881,265
- Management and general expenses
- $9,004,561
- Fundraising expenses
- $3,552,113
- Program service expenses (Part III)
- $26,881,265
Program services were 68.2% 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
$1,125,218
-
1c · Fundraising events
$994,212
-
1e · Government grants (contributions)
$11,338,159
-
1f · All other contributions, gifts and grants
$6,861,952
-
1g · Noncash contributions included above
$169,922
-
2a · Program service revenue: ADMISSION REVENUE
total $1,128,994 · related or exempt $1,128,994
-
2b · Program service revenue: ARTWORK EXHIBITION LOA
total $100,000 · related or exempt $100,000
-
2c · Program service revenue: OTHER REVENUE
total $7,579 · related or exempt $7,579
-
2d · Program service revenue: TOUR REVENUE
total $2,205 · related or exempt $2,205
-
2e · Program service revenue: PUBLICATION REVENUE
total $489 · related or exempt $489
-
3 · Investment income
total $2,841,088 · unrelated business $13,082 · excluded $2,828,006
-
5 · Royalties
total $3,986 · excluded $3,986
-
6a · Gross rents
real property $553,008
-
6b · Less rental expenses
real property $173,500
-
6c · Rental income or loss
real property $379,508
-
6d · Net rental income or loss
total $379,508 · excluded $379,508
-
7a · Gross sales of assets other than inventory
securities $30,327,420
-
7b · Less cost or other basis and sales expenses
securities $29,065,269
-
7c · Gain or loss
securities $1,262,151
-
7d · Net gain or loss
total $1,262,151 · excluded $1,262,151
-
8a · Fundraising events: gross income
$397,210
-
8a · Fundraising events: contributions included on line 1c
$994,212
-
8b · Fundraising events: direct expenses
$879,747
-
8c · Net income from fundraising events
total -$482,537 · excluded -$482,537
-
10a · Gross sales of inventory
$946,345
-
10b · Cost of goods sold
$520,199
-
10c · Net income from sales of inventory
total $426,146 · related or exempt $426,146
-
11a · Other revenue: LEGAL SETTLEMENT
total $2,000,000 · excluded $2,000,000
-
11b · Other revenue: MISCELLANEOUS INCOME
total $54,457 · excluded $54,457
-
11c · Other revenue: CAFE
total $35,887 · excluded $35,887
-
11e · Other revenue, total
$2,090,344
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,374,326 · program services $822,346 · management and general $417,449 · fundraising $134,531
-
7 · Other salaries and wages
total $14,649,292 · program services $10,018,489 · management and general $3,132,532 · fundraising $1,498,271
-
8 · Pension plan contributions
total $1,207,623 · program services $836,861 · management and general $234,588 · fundraising $136,174
-
9 · Other employee benefits
total $2,365,069 · program services $1,708,668 · management and general $406,690 · fundraising $249,711
-
10 · Payroll taxes
total $1,152,322 · program services $810,273 · management and general $198,272 · fundraising $143,777
-
11b · Fees: legal
total $117,757 · program services $47,445 · management and general $64,593 · fundraising $5,719
-
11c · Fees: accounting
total $142,275 · program services $35,569 · management and general $106,706
-
11f · Fees: investment management
total $169,189 · management and general $169,189
-
11g · Fees: other
total $1,526,428 · program services $891,926 · management and general $407,552 · fundraising $226,950
-
12 · Advertising and promotion
total $557,067 · program services $557,067
-
13 · Office expenses
total $496,938 · program services $281,721 · management and general $183,676 · fundraising $31,541
-
14 · Information technology
total $695,998 · program services $363,845 · management and general $327,934 · fundraising $4,219
-
16 · Occupancy
total $2,061,026 · program services $759,952 · management and general $1,301,074
-
17 · Travel
total $253,757 · program services $243,574 · management and general $499 · fundraising $9,684
-
19 · Conferences, conventions and meetings
total $21,322 · program services $11,358 · management and general $5,444 · fundraising $4,520
-
20 · Interest
total $3,272,014 · program services $2,204,953 · management and general $734,779 · fundraising $332,282
-
22 · Depreciation, depletion and amortization
total $4,966,346 · program services $3,360,948 · management and general $1,098,910 · fundraising $506,488
-
23 · Insurance
total $831,718 · program services $706,755 · management and general $124,963
-
24a · Other expenses: BAD DEBT EXPENSES
total $905,384 · program services $905,384
-
24b · Other expenses: SUPPLIES
total $841,980 · program services $796,061 · management and general $45,715 · fundraising $204
-
24c · Other expenses: ACQUISITIONS
total $707,971 · program services $685,442 · management and general $4,556 · fundraising $17,973
-
24d · Other expenses: SHIPPING/FREIGHT
total $403,851 · program services $309,234 · management and general $9,076 · fundraising $85,541
-
24e · All other expenses
total $718,286 · program services $523,394 · management and general $30,364 · fundraising $164,528
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,765 · end of year $8,092
-
2 · Savings and temporary cash investments
beginning of year $3,825,126 · end of year $2,073,085
-
3 · Pledges and grants receivable
beginning of year $4,541,606 · end of year $2,736,232
-
8 · Inventories for sale or use
beginning of year $568,000 · end of year $505,248
-
9 · Prepaid expenses and deferred charges
beginning of year $498,271 · end of year $321,758
-
10a · Land, buildings and equipment: cost or other basis
$201,479,599
-
10b · Land, buildings and equipment: accumulated depreciation
$92,953,162
-
10c · Land, buildings and equipment, net
beginning of year $112,744,157 · end of year $108,526,437
-
11 · Investments: publicly traded securities
beginning of year $92,704,280 · end of year $92,897,880
-
12 · Investments: other securities
beginning of year $28,064,716 · end of year $29,220,881
-
15 · Other assets
beginning of year $24,649 · end of year $24,649
-
17 · Accounts payable and accrued expenses
beginning of year $3,928,627 · end of year $3,518,626
-
19 · Deferred revenue
beginning of year $217,554 · end of year $241,525
-
20 · Tax-exempt bond liabilities
beginning of year $71,155,850 · end of year $68,299,687
-
27 · Net assets without donor restrictions
beginning of year $78,683,864 · end of year $67,633,916
-
28 · Net assets with donor restrictions
beginning of year $88,992,675 · end of year $96,620,508
Mission and programs · 2024
Mission
THE ASIAN ART MUSEUM CELEBRATES, PRESERVES, AND PROMOTES ASIAN AND ASIAN AMERICAN ART AND CULTURES FOR LOCAL AND GLOBAL AUDIENCES. WE PROVIDE A DYNAMIC FORUM FOR EXCHANGING IDEAS, INVITING COLLABORATION, AND FUELING IMAGINATION TO DEEPEN UNDERSTANDING AND EMPATHY AMONG PEOPLE OF ALL BACKGROUNDS.
Activities or mission (Part I)
THE ASIAN ART MUSEUM CELEBRATES, PRESERVES, AND PROMOTES ASIAN AND (CONTINUED ON SCHEDULE O)ASIAN AMERICAN ART AND CULTURES FOR LOCAL AND GLOBAL AUDIENCES. WE PROVIDE A DYNAMIC FORUM FOR EXCHANGING IDEAS, INVITING COLLABORATION, AND FUELING IMAGINATION TO DEEPEN UNDERSTANDING AND EMPATHY AMONG PEOPLE OF ALL BACKGROUNDS.
-
THE MUSEUM IS ONE OF SAN FRANCISCO'S PREMIER ARTS INSTITUTIONS AND HOME TO A WORLD-RENOWNED COLLECTION OF MORE THAN 18,000 ART TREASURES SPANNING 6,000 YEARS OF HISTORY AND REPRESENTING COUNTRIES AND CULTURES THROUGHOUT ASIA. THE COLLECTION'S SCOPE AND BREADTH ENABLE THE MUSEUM TO INTRODUCE ALL OF THE MAJOR TRADITIONS OF ASIAN ART AND CULTURE, AS WELL AS THE WORK OF MANY ASIAN AMERICAN ARTISTS. MORE THAN 2,500 ARTWORKS FROM THE COLLECTION ARE GENERALLY ON VIEW IN THE MUSEUM'S 33 COLLECTION GALLERIES, WITH ANOTHER 500 OBJECTS REMOVED AND REFRESHED WITH WORKS FROM STORAGE EACH YEAR.
Expenses $24,636,093 · Revenue $1,436,220
-
THE MUSEUM PROVIDES A BROAD RANGE OF PROGRAMS THAT EXPLORE THE CULTURES REPRESENTED IN THE MUSEUM'S COLLECTION AND EXHIBITIONS, AND WHICH ARE DESIGNED TO REACH ALL LEVELS OF EDUCATION (K-12, COLLEGE, AND ADULT) AND AWARENESS OF ART (NOVICE THROUGH EXPERT). FREE DOCENT-LED TOURS OF THE COLLECTION GALLERIES AND SPECIAL EXHIBITIONS ARE CONDUCTED THROUGHOUT THE DAY. THE MUSEUM'S STORYTELLING CORPS OFFERS ENTERTAINING AND EDUCATIONAL PROGRAMS FOR CHILDREN AND ADULTS RELATING TO ARTWORKS ON VIEW. SCHOOL PROGRAMS INCLUDE A VARIETY OF INDUSTRY-BASED ACTIVITIES: ALL CLASS TOURS ARE INTERACTIVE AND EMPHASIZE OBSERVATION SKILLS, CRITICAL THINKING, GROUP WORK, AND PEER PRESENTATIONS.
Expenses $469,775 · Revenue $7,579
-
PHOENIX KINGDOMS: THE LAST SPLENDOR OF CHINA'S BRONZE AGEAPR 19, 2024 - JUL 22, 2024RISING FROM THE ASHES OF CONQUEST, TWO BRILLIANT BUT FORGOTTEN CULTURES CLAIM THEIR RIGHTFUL PLACES IN CHINA'S HISTORY. YUAN GOANG-MING: EVERYDAY WARAPR 3, 2025 - AUG 4, 2025A LEADING VIDEO ARTIST OFFERS A DREAMLIKE LOOK AT AN INCREASINGLY UNSETTLING WORLD. HALLYU! THE KOREAN WAVESEP 27, 2024 - JAN 6, 2025DISCOVER WHY THE WORLD CAN'T GET ENOUGH K-POP, KOREAN DRAMAS, AND KIMBAP.
Expenses $1,775,397 · Revenue $221,614
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Salle YooSALLE YOO
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Anjali PichaiANJALI PICHAI
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Gorretti Lo LuiGORRETTI LO LUI
VICE PRESIDENT OF COMMUNITY
- Total calculated
- $0
- Hours/week
- 1
-
Kenneth P WilcoxKENNETH P WILCOX
TREASURER, VP OF FINANCE
- Total calculated
- $0
- Hours/week
- 1
-
Michelle S TaiMICHELLE S TAI
SECRETARY, VP OF COLLECTIONS
- Total calculated
- $0
- Hours/week
- 1
-
Paul AntebiPAUL ANTEBI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Cori BatesCORI BATES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Eliza CashELIZA CASH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Huifen ChanHUIFEN CHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Tiffany ChangTIFFANY CHANG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Claudine ChengCLAUDINE CHENG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Sandra CheungSANDRA CHEUNG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kapil ChhibberKAPIL CHHIBBER
TRUSTEE (THRU 01/24)
- Total calculated
- $0
- Hours/week
- 1
-
Lillian ChunLILLIAN CHUN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Yogen DalalYOGEN DALAL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thao DodsonTHAO DODSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dixon R DollDIXON R DOLL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Fred EychanerFRED EYCHANER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gloria GaraventaGLORIA GARAVENTA
TRUSTEE (THRU 04/25)
- Total calculated
- $0
- Hours/week
- 1
-
Mimi Gardner GatesMIMI GARDNER GATES
TRUSTEE (THRU 09/24)
- Total calculated
- $0
- Hours/week
- 1
-
Gurmeet Gigi GulatiGURMEET GIGI GULATI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Marsha Vargas HandleyMARSHA VARGAS HANDLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Martha Sam HertelendyMARTHA SAM HERTELENDY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Charles HuangCHARLES HUANG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Marie Oh HuberMARIE OH HUBER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Timothy F KahnTIMOTHY F KAHN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Choongja Maria KahngCHOONGJA MARIA KAHNG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer KaoJENNIFER KAO
TRUSTEE (THRU 04/25)
- Total calculated
- $0
- Hours/week
- 1
-
Travis KiyotaTRAVIS KIYOTA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Chong-Moon LeeCHONG-MOON LEE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Fred M LevinFRED M LEVIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dipti MathurDIPTI MATHUR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mary MeadMARY MEAD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Amanda MinamiAMANDA MINAMI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Hema Sareen MohanHEMA SAREEN MOHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Nanci NishimuraNANCI NISHIMURA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Varsha RaoVARSHA RAO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Vijay ShriramVIJAY SHRIRAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anthony SunANTHONY SUN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mindy Lin SunMINDY LIN SUN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ann TanenbaumANN TANENBAUM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ina Goodwin TateuchiINA GOODWIN TATEUCHI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Akiko YamazakiAKIKO YAMAZAKI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Richard YenRICHARD YEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Hansong ZhangHANSONG ZHANG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jay XuJAY XU
DIRECTOR & CEO (THRU 04/25)
- Total calculated
- $716,958
- From this org
- $661,595
- From related orgs
- $0
- Other
- $55,363
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $577,892
- Bonus
- $83,703
- Other
- $0
- Deferred
- $44,241
- Nontaxable benefits
- $11,122
- Filer's total
- $716,958
-
Soyoung LeeSOYOUNG LEE
DIRECTOR & CEO
- Total calculated
- $0
- Hours/week
- 40
-
Sara LeeSARA LEE
CHIEF FINANCIAL & ADMIN OFFICER
- Total calculated
- $284,767
- From this org
- $270,981
- From related orgs
- $0
- Other
- $13,786
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $270,981
- Bonus
- $0
- Other
- $0
- Deferred
- $13,786
- Nontaxable benefits
- $0
- Filer's total
- $284,767
-
Robert MintzROBERT MINTZ
CHIEF CURATOR
- Total calculated
- $271,031
- From this org
- $233,711
- From related orgs
- $0
- Other
- $37,320
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $233,711
- Bonus
- $0
- Other
- $0
- Deferred
- $35,711
- Nontaxable benefits
- $1,609
- Filer's total
- $271,031
-
Banafsheh PerroneBANAFSHEH PERRONE
CHIEF IMPACT OFFICER
- Total calculated
- $268,379
- From this org
- $239,572
- From related orgs
- $0
- Other
- $28,807
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $239,572
- Bonus
- $0
- Other
- $0
- Deferred
- $12,014
- Nontaxable benefits
- $16,793
- Filer's total
- $268,379
-
Emiko K UsuiEMIKO K USUI
CHIEF EXPERIENCE OFFICER
- Total calculated
- $268,099
- From this org
- $249,948
- From related orgs
- $0
- Other
- $18,151
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $249,948
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $18,151
- Filer's total
- $268,099
-
Ko Ko ZinKO KO ZIN
BUILDING & GROUNDS MAINTENANCE SUPERINTENDENT
- Total calculated
- $248,759
- From this org
- $193,313
- From related orgs
- $0
- Other
- $55,446
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $193,313
- Bonus
- $0
- Other
- $0
- Deferred
- $29,467
- Nontaxable benefits
- $25,979
- Filer's total
- $248,759
-
Calen McEldowneyCALEN MCELDOWNEY
DIRECTOR OF SECURITY & FACILITIES
- Total calculated
- $236,819
- From this org
- $196,286
- From related orgs
- $0
- Other
- $40,533
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $196,286
- Bonus
- $0
- Other
- $0
- Deferred
- $29,754
- Nontaxable benefits
- $10,779
- Filer's total
- $236,819
-
Lia M MaksoudLIA M MAKSOUD
DIRECTOR OF HUMAN RESOURCES
- Total calculated
- $196,274
- From this org
- $175,166
- From related orgs
- $0
- Other
- $21,108
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,166
- Bonus
- $0
- Other
- $0
- Deferred
- $8,988
- Nontaxable benefits
- $12,120
- Filer's total
- $196,274
-
Jody HartJODY HART
DIRECTOR OF IT
- Total calculated
- $196,104
- From this org
- $164,657
- From related orgs
- $0
- Other
- $31,447
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $164,657
- Bonus
- $0
- Other
- $0
- Deferred
- $8,519
- Nontaxable benefits
- $22,928
- Filer's total
- $196,104
-
Kirsten WolfeKIRSTEN WOLFE
DIRECTOR OF MARKETING AND COMMUNICATIONS
- Total calculated
- $176,491
- From this org
- $165,592
- From related orgs
- $0
- Other
- $10,899
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $165,592
- Bonus
- $0
- Other
- $0
- Deferred
- $1,635
- Nontaxable benefits
- $9,264
- Filer's total
- $176,491
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER TRUSTS (3)
INVESTMENT · CA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202601339349305250
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