Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $140,083

• 1c · Fundraising events

  $329,840

• 1f · All other contributions, gifts and grants

  $5,561,870

• 1g · Noncash contributions included above

  $131,675

• 3 · Investment income

  total $470,258 · excluded $470,258

• 7a · Gross sales of assets other than inventory

  securities $16,754,928

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

  securities $16,754,928

• 7c · Gain or loss

  securities $0

• 8a · Fundraising events: gross income

  $271,994

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

  $329,840

• 8b · Fundraising events: direct expenses

  $377,885

• 8c · Net income from fundraising events

  total -$105,891 · excluded -$105,891

• 10a · Gross sales of inventory

  $3,031

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $3,031 · related or exempt $3,031

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $64,357 · program services $22,526 · management and general $22,525 · fundraising $19,306

• 7 · Other salaries and wages

  total $175,571 · program services $32,363 · management and general $109,405 · fundraising $33,803

• 11c · Fees: accounting

  total $40,745 · management and general $40,745

• 11e · Fees: professional fundraising services

  total $64,275 · fundraising $64,275

• 11g · Fees: other

  total $37,337 · management and general $37,337

• 12 · Advertising and promotion

  total $2,418 · management and general $2,418

• 13 · Office expenses

  total $4,653 · management and general $4,653

• 16 · Occupancy

  total $4,317 · program services $4,317

• 17 · Travel

  total $24,610 · management and general $24,610

• 23 · Insurance

  total $12,057 · management and general $12,057

• 24a · Other expenses: DONOR RELATIONS AND EVE

  total $42,240 · fundraising $42,240

• 24b · Other expenses: ART ACQUISITIONS AND CO

  total $41,600 · program services $41,600

• 24c · Other expenses: OTHER EXPENSES

  total $17,018 · management and general $17,018

• 24d · Other expenses: MUSEUM SUPPORT

  total $15,850 · management and general $15,850

• 24e · All other expenses

  total $43,593 · program services $9,050 · management and general $27,849 · fundraising $6,694

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $84,888 · end of year $57,964

• 2 · Savings and temporary cash investments

  beginning of year $150,118 · end of year $158,103

• 3 · Pledges and grants receivable

  beginning of year $1,534,840 · end of year $1,894,495

• 4 · Accounts receivable

  beginning of year $39,501 · end of year $46,029

• 8 · Inventories for sale or use

  beginning of year $29,338 · end of year $14,939

• 11 · Investments: publicly traded securities

  beginning of year $5,602,483 · end of year $11,073,946

• 15 · Other assets

  beginning of year $3,424 · end of year $1,470

• 17 · Accounts payable and accrued expenses

  beginning of year $12,159 · end of year $10,356

• 25 · Other liabilities

  beginning of year $633,009 · end of year $622,188

• 27 · Net assets without donor restrictions

  beginning of year -$105,721 · end of year $300,229

• 28 · Net assets with donor restrictions

  beginning of year $6,905,145 · end of year $12,314,173

The filer's explanations (Part III)

PART I, LINE 3

THE FOUNDATION'S PRESIDENT IS AN EMPLOYEE OF THE COLLEGE AND IS PAID BY THE COLLEGE. THE FOUNDATION REIMBURSES THE COLLEGE FOR A PORTION OF THE PRESIDENT'S SALARY.