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Nonprofiteer
← JOSLYN ART MUSEUM FOUNDATION

Form 990 for tax year 2024

Filed by JOSLYN ART MUSEUM FOUNDATION.

Totals

Total revenue
$8,531,430
Total expenses
$2,955,319
Contributions and grants received
$4,521,004
Grants paid
$2,679,411
Program service revenue
$0
Investment income
$4,010,426
Other revenue
$0
Total assets, end of year
$75,986,751
Total liabilities, end of year
$190,128
Net assets or fund balances, end of year
$75,796,623
Program services expenses (Part IX)
$2,926,698
Management and general expenses
$28,621
Fundraising expenses
$0
Program service expenses (Part III)
$2,926,698

Program services were 99.0% 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.

  • 1f · All other contributions, gifts and grants

    $4,521,004

  • 1g · Noncash contributions included above

    $1,971,249

  • 3 · Investment income

    total $1,502,647 · excluded $1,502,647

  • 7a · Gross sales of assets other than inventory

    securities $8,833,485

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

    securities $6,325,706

  • 7c · Gain or loss

    securities $2,507,779

  • 7d · Net gain or loss

    total $2,507,779 · excluded $2,507,779

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,679,411 · program services $2,679,411

  • 5 · Compensation of officers, directors and key employees

    total $228,355 · program services $228,355

  • 10 · Payroll taxes

    total $10,574 · program services $10,574

  • 11b · Fees: legal

    total $1,127 · management and general $1,127

  • 11c · Fees: accounting

    total $15,258 · management and general $15,258

  • 11f · Fees: investment management

    total $12,236 · management and general $12,236

  • 17 · Travel

    total $3,007 · program services $3,007

  • 24a · Other expenses: DONOR CULTIVATION

    total $4,151 · program services $4,151

  • 24b · Other expenses: NON CAPITAL EQUIPMENT

    total $1,200 · program services $1,200

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,777,287 · end of year $5,361,644

  • 3 · Pledges and grants receivable

    beginning of year $2,000,000 · end of year $3,010,000

  • 11 · Investments: publicly traded securities

    beginning of year $62,301,700 · end of year $67,198,787

  • 15 · Other assets

    beginning of year $324,621 · end of year $416,320

  • 17 · Accounts payable and accrued expenses

    beginning of year $438 · end of year $122,478

  • 25 · Other liabilities

    beginning of year $2,397,821 · end of year $67,650

  • 27 · Net assets without donor restrictions

    beginning of year $3,887,552 · end of year $4,126,724

  • 28 · Net assets with donor restrictions

    beginning of year $62,117,797 · end of year $71,669,899

Mission and programs · 2024

Mission

THE PURPOSE OF JOSLYN ART MUSEUM FOUNDATION IS TO SUPPORT THE JOSLYN ART MUSEUM AND MANAGE THE MUSEUM'S ENDOWMENT FUNDS.

Activities or mission (Part I)

TO SUPPORT THE JOSLYN ART MUSEUM AND MANAGE THE MUSEUM'S ENDOWMENT FUNDS.

  • THE PURPOSE OF JOSLYN ART MUSEUM FOUNDATION IS TO SUPPORT THE JOSLYN ART MUSEUM AND MANAGE THE MUSEUM'S ENDOWMENT FUNDS.

    Expenses $2,926,698 · Grants $2,679,411

As filed on the 2024 return.

Listed in Part VII

  • John P Nelson

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Robert D Bates

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Art N Burtscher

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jack Becker

    MUSEUM EXECUTIVE DIRECTOR

    Total calculated
    $579,272
    From this org
    $0
    From related orgs
    $556,706
    Other
    $22,566
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $342,778 related
    Bonus
    $0 + $211,325 related
    Other
    $0 + $2,603 related
    Deferred
    $0 + $8,703 related
    Nontaxable benefits
    $0 + $14,927 related
    Filer's total
    $0 + $580,336 related

  • Elizabeth A Powell

    DIRECTOR OF FINANCE & OPERATIONS

    Total calculated
    $160,879
    From this org
    $0
    From related orgs
    $143,279
    Other
    $17,600
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $130,405 related
    Bonus
    $0 + $11,563 related
    Other
    $0 + $1,311 related
    Deferred
    $0 + $4,815 related
    Nontaxable benefits
    $0 + $13,374 related
    Filer's total
    $0 + $161,468 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
THE COMPENSATION PAID TO THE EXECUTIVE DIRECTOR & CEO AND THE DIRECTOR OF FINANCE & OPERATIONS IS REVIEWED AND APPROVED BY JOSLYN ART MUSEUM
FORM 990, PART VII, SECTION A, LINE 5:
JACK BECKER, JOSLYN ART MUSEUM EXECUTIVE DIRECTOR & CEO, IS ALSO THE EXECUTIVE DIRECTOR & CEO OF JOSLYN ART MUSEUM FOUNDATION. MR. BECKER'S SALARY IS PAID BY JOSLYN ART MUSEUM AND IS PARTIALLY REIMBURSED BY JOSLYN ART MUSEUM FOUNDATION. COMPENSATION FOR MR. BECKER IS PAID BY JOSLYN ART MUSEUM OF WHICH $228,355 WAS ALLOCATED TO THE JOSLYN ART MUSEUM FOUNDATION. ELIZABETH POWELL, JOSLYN ART MUSEUM DIRECTOR OF FINANCE & OPERATIONS, IS ALSO THE TOP FINANCIAL OFFICER FOR JOSLYN ART MUSEUM FOUNDATION. MS. POWELL'S SALARY IS PAID BY JOSLYN ART MUSEUM. ANNUAL COMPENSATION FOR MS. POWELL IS PAID BY JOSLYN ART MUSEUM OF WHICH NONE WAS ALLOCATED TO THE JOSLYN ART MUSEUM FOUNDATION.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
9 July 2025
IRS schema version
2024v5.2
Source object
202501919349301450

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