Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $4,473,547

• 1c · Fundraising events

  $2,825,064

• 1d · Related organizations

  $1,940,821

• 1e · Government grants (contributions)

  $1,212,450

• 1f · All other contributions, gifts and grants

  $11,196,353

• 1g · Noncash contributions included above

  $165,480

• 2a · Program service revenue: EXHIBITION FEES

  total $722,315 · related or exempt $722,315

• 2b · Program service revenue: PROGRAM FEES

  total $396,429 · related or exempt $396,429

• 2c · Program service revenue: PARKING FEES

  total $788,683 · related or exempt $788,683

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $2,910,767 · unrelated business $157,996 · excluded $2,752,771

• 5 · Royalties

  total $21,689 · related or exempt $21,689

• 6a · Gross rents

  real property $50,600

• 6b · Less rental expenses

  real property $67,963

• 6c · Rental income or loss

  real property -$17,363 · personal property $0

• 6d · Net rental income or loss

  total -$17,363 · excluded -$17,363

• 7a · Gross sales of assets other than inventory

  securities $7,591,907

• 7c · Gain or loss

  securities $7,591,907 · other assets $0

• 7d · Net gain or loss

  total $7,591,907 · excluded $7,591,907

• 8a · Fundraising events: gross income

  $234,169

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

  $2,825,064

• 8b · Fundraising events: direct expenses

  $733,060

• 8c · Net income from fundraising events

  total -$498,891 · excluded -$498,891

• 10a · Gross sales of inventory

  $2,084,002

• 10b · Cost of goods sold

  $1,071,478

• 10c · Net income from sales of inventory

  total $1,012,524 · related or exempt $1,012,524

• 11a · Other revenue: SPECIAL EVENTS

  total $1,625,940 · related or exempt $1,358,032 · unrelated business $267,908

• 11b · Other revenue: MISCELLANEOUS

  total $18,947 · related or exempt $18,947

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $1,644,887

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $963,774 · program services $385,510 · management and general $313,503 · fundraising $264,761

• 7 · Other salaries and wages

  total $14,849,667 · program services $11,053,755 · management and general $1,890,965 · fundraising $1,904,947

• 8 · Pension plan contributions

  total $727,073 · program services $562,499 · management and general $79,039 · fundraising $85,535

• 9 · Other employee benefits

  total $2,792,658 · program services $2,037,760 · management and general $378,902 · fundraising $375,996

• 10 · Payroll taxes

  total $1,157,974 · program services $840,907 · management and general $159,467 · fundraising $157,600

• 11a · Fees: management

  total $249,274 · program services $175,040 · management and general $30,574 · fundraising $43,660

• 11b · Fees: legal

  total $97,258 · program services $68,295 · management and general $11,929 · fundraising $17,034

• 11c · Fees: accounting

  total $144,069 · program services $101,165 · management and general $17,671 · fundraising $25,233

• 11f · Fees: investment management

  total $1,070,631 · management and general $1,070,631

• 11g · Fees: other

  total $5,980,820 · program services $4,199,727 · management and general $733,569 · fundraising $1,047,524

• 12 · Advertising and promotion

  total $617,970 · program services $494,375 · management and general $37,010 · fundraising $86,585

• 13 · Office expenses

  total $2,945,542 · program services $1,987,056 · management and general $264,055 · fundraising $694,431

• 16 · Occupancy

  total $3,267,658 · program services $2,378,276 · management and general $664,178 · fundraising $225,204

• 17 · Travel

  total $465,999 · program services $309,946 · management and general $62,737 · fundraising $93,316

• 20 · Interest

  total $4,510,426 · program services $3,532,427 · management and general $620,285 · fundraising $357,714

• 22 · Depreciation, depletion and amortization

  total $8,103,671 · program services $6,133,838 · management and general $1,396,344 · fundraising $573,489

• 23 · Insurance

  total $228,746 · program services $210,109 · management and general $11,176 · fundraising $7,461

• 24a · Other expenses: MISCELLANEOUS EXPENSES

  total $817,794 · program services $340,471 · management and general $343,824 · fundraising $133,499

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,253,082 · end of year $3,425,983

• 2 · Savings and temporary cash investments

  beginning of year $3,847,753 · end of year $5,145,762

• 3 · Pledges and grants receivable

  beginning of year $59,004,578 · end of year $60,723,929

• 4 · Accounts receivable

  beginning of year $102,418 · end of year $116,936

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $94,111 · end of year $156,701

• 9 · Prepaid expenses and deferred charges

  beginning of year $104,973 · end of year $83,696

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

  $303,967,607

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

  $135,128,397

• 10c · Land, buildings and equipment, net

  beginning of year $175,390,646 · end of year $168,839,210

• 11 · Investments: publicly traded securities

  beginning of year $156,725,614 · end of year $180,110,797

• 12 · Investments: other securities

  beginning of year $181,538,804 · end of year $170,730,448

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $11,618,085 · end of year $12,342,324

• 17 · Accounts payable and accrued expenses

  beginning of year $3,655,571 · end of year $4,938,279

• 20 · Tax-exempt bond liabilities

  beginning of year $125,501,791 · end of year $121,243,480

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $0 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $255,448,129 · end of year $266,894,077

• 28 · Net assets with donor restrictions

  beginning of year $207,074,573 · end of year $208,599,950

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

THE NELSON GALLERY FOUNDATION MAINTAINS A MEMBERSHIP AT THE MISSION HILLS COUNTRY CLUB, A SOCIAL CLUB, IN THE NAME OF THE DIRECTOR/CEO. THIS MEMBERSHIP IS USED BY THE NELSON GALLERY FOUNDATION FOR HOSTING BUSINESS MEETINGS, BUT IS AVAILABLE TO THE DIRECTOR/CEO FOR PERSONAL USE. MEMBERSHIP DUES ARE TREATED AS TAXABLE COMPENSATION TO THE DIRECTOR/CEO.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

THE CEO PARTICIPATES IN A DEFERRED COMPENSATION PLAN UNDER 457F. A CONTRIBUTION OF $200,000 WAS MADE TO THE PLAN DURING THE YEAR.

Schedule J, Part I, Line 7 Non-fixed payments

A DISCRETIONARY BONUS IS AWARDED TO THE CEO BY THE BOARD OF DIRECTORS BASED ON PERFORMANCE.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• MERCURY FUND II

  Excluded · INVESTING · DE · 99.99% owned · share of income $5,712,097 · share of assets $106,750,169

  Directly controlled by NGF

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUST (1)

  Trust · TRUST · MO

  Directly controlled by NA