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Nonprofiteer
← CLYFFORD STILL MUSEUM FOUNDATION

Form 990 for tax year 2023

Filed by CLYFFORD STILL MUSEUM FOUNDATION.

Totals

Total revenue
$2,758,153
Total expenses
$4,463,180
Contributions and grants received
$0
Grants paid
$3,900,000
Program service revenue
$0
Investment income
$2,476,817
Other revenue
$281,336
Total assets, end of year
$142,346,617
Total liabilities, end of year
$4,722
Net assets or fund balances, end of year
$142,341,895
Program services expenses (Part IX)
$3,900,000
Management and general expenses
$563,180
Fundraising expenses
$0
Program service expenses (Part III)
$3,900,000

Program services were 87.4% 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.

  • 3 · Investment income

    total $2,212,457 · excluded $2,212,457

  • 6a · Gross rents

    real property $346,073

  • 6b · Less rental expenses

    real property $64,737

  • 6c · Rental income or loss

    real property $281,336

  • 6d · Net rental income or loss

    total $281,336 · excluded $281,336

  • 7a · Gross sales of assets other than inventory

    securities $264,360

  • 7c · Gain or loss

    securities $264,360

  • 7d · Net gain or loss

    total $264,360 · excluded $264,360

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,900,000 · program services $3,900,000

  • 11f · Fees: investment management

    total $548,454 · management and general $548,454

  • 11g · Fees: other

    total $14,300 · management and general $14,300

  • 13 · Office expenses

    total $426 · management and general $426

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $505,764 · end of year $488,369

  • 2 · Savings and temporary cash investments

    beginning of year $1,004,919 · end of year $1,570,434

  • 11 · Investments: publicly traded securities

    beginning of year $55,132,936 · end of year $59,382,986

  • 12 · Investments: other securities

    beginning of year $69,543,316 · end of year $78,497,939

  • 15 · Other assets

    beginning of year $2,314,456 · end of year $2,406,889

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,722 · end of year $4,722

  • 27 · Net assets without donor restrictions

    beginning of year $535,174 · end of year $520,448

  • 28 · Net assets with donor restrictions

    beginning of year $127,961,495 · end of year $141,821,447

Mission and programs · 2023

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF CLYFFORD STILL MUSEUM, A COLORADO NONPROFIT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.

Activities or mission (Part I)

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF CLYFFORD STILL MUSEUM, A COLORADO NONPROFIT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SPECIFIC PURPOSES AND OBJECTIVES OF THE CORPORATION SHALL INCLUDE BUT NOT BE LIMITED TO THE FOLLOWING: (A) TO RECEIVE CONTRIBUTIONS FROM ANY SOURCE WHATSOEVER AND TO ESTABLISH, MAINTAIN AND ADMINISTER AN ENDOWMENT FUND FOR THE EXCLUSIVE BENEFIT OF CLYFFORD STILL MUSEUM. (B) SUBJECT TO THE TERMS OF ANY SPECIFIC GIFT, GRANT, BEQUEST OR DEVISE, TO MAKE DISTRIBUTIONS FROM SUCH ENDOWMENT FUND EXCLUSIVELY FOR THE SUPPORT OF CLYFFORD STILL MUSEUM FOR ITS CHARITABLE, EDUCATIONAL, SCIENTIFIC AND LITERARY PURPOSES AND FOR ITS CUSTODY OF AND CARE FOR THE CLYFFORD STILL MUSEUM COLLECTIONS.

  • DURING 2023, THE FOUNDATION MADE GRANTS TOTALING 3,900,000 TO THE CLYFFORD STILL MUSEUM FOR ART CONSERVATION AND GENERAL OPERATING SUPPORT.

    Expenses $3,900,000 · Grants $3,900,000

As filed on the 2023 return.

Listed in Part VII

  • Harold R Logan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25

  • J Landis Martin

    PRESIDENT TH

    Total calculated
    $0
    Hours/week
    0.25

  • Daniel Benel

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Marshall F Wallach

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Susannah Drake

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Joyce Tsai

    ASSISTANT VP

    Total calculated
    $343,991
    From this org
    $0
    From related orgs
    $276,106
    Other
    $67,885
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $276,106 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $47,935 related
    Nontaxable benefits
    not reported + $19,950 related
    Filer's total
    not reported + $343,991 related

  • Anna Boatwright

    ASSISTANT SE

    Total calculated
    $206,225
    From this org
    $0
    From related orgs
    $193,003
    Other
    $13,222
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $193,003 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $5,790 related
    Nontaxable benefits
    not reported + $7,432 related
    Filer's total
    not reported + $206,225 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART III
SCHEDULE J, PART I, LINE 4B JOYCE TSAI PARTICIPATES IN AN UNFUNDED 457F DEFERRED COMPENSATION PLAN (THE PLAN). 19,456 WAS CREDITED TO THE PLAN DURING 2023 FOR MS. TSAI.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • BANNOCK ACQUISITION LLC

    REAL ESTAT · DE · income $281,336 · assets $5,061,600

    Directly controlled by CLYFFORD S

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202441369349306699

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