Totals
- Total revenue
- $26,865,830
- Total expenses
- $21,197,709
- Contributions and grants received
- $14,158,324
- Grants paid
- $7,798,649
- Program service revenue
- $0
- Investment income
- $12,701,915
- Other revenue
- $5,591
- Total assets, end of year
- $329,135,828
- Total liabilities, end of year
- $2,559,481
- Net assets or fund balances, end of year
- $326,576,347
- Program services expenses (Part IX)
- $19,314,063
- Management and general expenses
- $1,883,646
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $19,314,063
Program services were 91.1% 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.
-
1d · Related organizations
$1,965,777
-
1f · All other contributions, gifts and grants
$12,192,547
-
3 · Investment income
total $6,387,253 · unrelated business $27,312 · excluded $6,359,941
-
7a · Gross sales of assets other than inventory
securities $17,015,035
-
7b · Less cost or other basis and sales expenses
securities $10,700,373
-
7c · Gain or loss
securities $6,314,662
-
7d · Net gain or loss
total $6,314,662 · excluded $6,314,662
-
11a · Other revenue: OTHER REVENUE
total $5,591 · excluded $5,591
-
11e · Other revenue, total
$5,591
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $7,798,649 · program services $7,798,649
-
11a · Fees: management
total $250,000 · management and general $250,000
-
11c · Fees: accounting
total $86,657 · management and general $86,657
-
11f · Fees: investment management
total $1,350,022 · management and general $1,350,022
-
22 · Depreciation, depletion and amortization
total $5,891,969 · program services $5,891,969
-
23 · Insurance
total $196,967 · management and general $196,967
-
24a · Other expenses: ART ACQUISITION
total $5,623,445 · program services $5,623,445
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $134,818 · end of year $359,773
-
2 · Savings and temporary cash investments
beginning of year $5,596,560 · end of year $5,319,635
-
3 · Pledges and grants receivable
beginning of year $2,425,000 · end of year $4,788,365
-
4 · Accounts receivable
beginning of year $4,326,895 · end of year $9,791,300
-
7 · Other notes and loans receivable
beginning of year $825,000 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$13,416
-
10b · Land, buildings and equipment: accumulated depreciation
$13,416
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $189,444,999 · end of year $206,999,432
-
12 · Investments: other securities
beginning of year $10,169,457 · end of year $11,468,628
-
15 · Other assets
beginning of year $96,300,664 · end of year $90,408,695
-
17 · Accounts payable and accrued expenses
beginning of year $1,284,223 · end of year $2,559,481
-
27 · Net assets without donor restrictions
beginning of year $149,297,302 · end of year $146,103,517
-
28 · Net assets with donor restrictions
beginning of year $158,641,868 · end of year $180,472,830
Mission and programs · 2024
Mission
THE SPECIFIC AND PRIMARY PURPOSES FOR WHICH THIS FOUNDATION IS FORMED ARE THE CHARITABLE AND EDUCATIONAL PURPOSES OF SOLICITING, RECEIVING, DISBURSING AND MANAGING FUNDS AND PROPERTY FOR THE EMBELLISHMENT, ADVANCEMENT, ADMINISTRATION AND ENLARGEMENT OF THE FINE ARTS MUSEUMS OF SAN FRANCISCO (FAMSF). THESE ACTIVITIES INCLUDE PURCHASING WORKS OF ART, HOLDING THOSE WORKS OF ART, AND LENDING OR DONATING THEM TO THE FINE ARTS MUSEUMS OF SAN FRANCISCO.
Activities or mission (Part I)
RECEIVING, DONATING AND DISBURSING FUNDS FOR THE FINE ARTS MUSEUMS.
-
ART ACQUISITIONS FOR THE FINE ARTS MUSEUMS.
Expenses $5,623,445
-
THE FINE ARTS MUSEUMS FOUNDATION (FAMF) AND COFAM PRIVATELY RAISED FUNDS AND REBUILT THE DEYOUNG MUSEUM, WHICH WAS GIFTED TO THE CITY OF SAN FRANCISCO UPON ITS COMPLETION IN 2005. THESE EXPENSES INCLUDE THE AMORTIZATION OF THE BENEFICIAL INTEREST IN THE DEYOUNG AS WELL AS THE COST OF SERVICING RELATED BONDS. THE NEW DEYOUNG HAS PERMITTED EXPANDED AND IMPROVED SERVICE TO THE MUSEUM'S PUBLIC BY INCREASING THE AMOUNT OF ART ON VIEW, THE EXPANSION OF THE EDUCATIONAL DEPARTMENT AND THE INCREASED EXHIBITION SPACE.
Expenses $5,891,969
-
DISBURSEMENT OF FUNDS FOR THE EMBELLISHMENT, ADVANCEMENT, AND ADMINISTRATION OF THE CORPORATION FOR THE FINE ARTS MUSEUMS(COFAM).
Expenses $7,798,649 · Grants $7,798,649
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lorna F MeyerLORNA F MEYER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5 + 1 related
-
George HecksherGEORGE HECKSHER
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
David Hooker SpencerDAVID HOOKER SPENCER
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
David SowardDAVID SOWARD
TREASURER, VP OF INVESTMEN
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Debbie JorgensenDEBBIE JORGENSEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
William Hearst IIIWILLIAM HEARST III
VP OF COLLECTIONS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Alexandria J AshdownALEXANDRIA J ASHDOWN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Leshelle MayLESHELLE MAY
TRUSTEE (THRU 12/24)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jason MomentJASON MOMENT
TRUSTEE (THRU 05/25)
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Marvin TseuMARVIN TSEU
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Paul A ViolichPAUL A VIOLICH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Diane B WilseyDIANE B WILSEY
COFAM CHAIR EMERITA
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Thomas CampbellTHOMAS CAMPBELL
DIRECTOR OF MUSEUMS
- Total calculated
- $1,208,885
- From this org
- $0
- From related orgs
- $1,133,918
- Other
- $74,967
- Hours/week
- 5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $1,124,068 related
- Bonus
- $0
- Other
- $0 + $9,850 related
- Deferred
- $0 + $17,654 related
- Nontaxable benefits
- $0 + $57,313 related
- Filer's total
- $0 + $1,208,885 related
-
Jason SeiferJASON SEIFER
FISCAL OFFICER
- Total calculated
- $428,191
- From this org
- $0
- From related orgs
- $371,108
- Other
- $57,083
- Hours/week
- 10 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $370,545 related
- Bonus
- $0
- Other
- $0 + $563 related
- Deferred
- $0 + $24,150 related
- Nontaxable benefits
- $0 + $32,933 related
- Filer's total
- $0 + $428,191 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
None.
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
The filer's explanations (Part III)
- PART I, LINE 3
- COMPENSATION FOR THE DIRECTOR OF MUSEUMS AND FISCAL OFFICER WERE DETERMINED BY CORPORATION OF THE FINE ARTS MUSEUMS, A RELATED ORGANIZATION, THAT USED COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATION, COMPENSATION SURVEY OR STUDY, AND APPROVED BY THE BOARD OR COMPENSATION COMMITTEE.
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
-
CORPORATION OF THE FINE ARTS MUSEUMS
$7,798,649
OPERATIONAL ASSISTANCE
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.
-
CORPORATION OF THE FINE ARTS MUSEUMS
501C(3) · SEE PART VII · CA
-
THE FINE ARTS MUSEUMS OF SAN FRANCISCO
SEE PART VII · CA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611339349307186
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