Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $726,178

• 1c · Fundraising events

  $758,602

• 1e · Government grants (contributions)

  $3,380,976

• 1f · All other contributions, gifts and grants

  $4,488,320

• 1g · Noncash contributions included above

  $94,248

• 2a · Program service revenue: ADMISSIONS

  total $435,733 · related or exempt $435,733

• 2b · Program service revenue: REPROD, PHOTO, RESEARCH

  total $176,407 · related or exempt $176,407

• 2c · Program service revenue: PARKING

  total $70,154 · related or exempt $70,154

• 2d · Program service revenue: EDUCATION PROGRAMS

  total $65,470 · related or exempt $65,470

• 3 · Investment income

  total $750,834 · excluded $750,834

• 5 · Royalties

  total $3,809 · excluded $3,809

• 6a · Gross rents

  real property $748,111

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $748,111

• 6d · Net rental income or loss

  total $748,111 · excluded $748,111

• 7a · Gross sales of assets other than inventory

  securities $56,712 · other assets $125,500

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

  securities -$505,708 · other assets $68,788

• 7c · Gain or loss

  securities $562,420 · other assets $56,712

• 7d · Net gain or loss

  total $619,132 · excluded $619,132

• 8a · Fundraising events: gross income

  $0

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

  $758,602

• 8b · Fundraising events: direct expenses

  $236,915

• 8c · Net income from fundraising events

  total -$236,915 · excluded -$236,915

• 10a · Gross sales of inventory

  $3,290,648

• 10b · Cost of goods sold

  $1,330,820

• 10c · Net income from sales of inventory

  total $1,959,828 · unrelated business $1,262,115 · excluded $697,713

• 11a · Other revenue: MISCELLANEOUS

  total $8,035 · excluded $8,035

• 11e · Other revenue, total

  $8,035

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $419,556 · program services $339,211 · management and general $40,956 · fundraising $39,389

• 6 · Compensation of disqualified persons

  total $181,818 · program services $146,905 · management and general $17,737 · fundraising $17,176

• 7 · Other salaries and wages

  total $5,927,237 · program services $4,789,091 · management and general $578,215 · fundraising $559,931

• 8 · Pension plan contributions

  total $2,228 · program services $2,006 · management and general $111 · fundraising $111

• 9 · Other employee benefits

  total $796,921 · program services $660,170 · management and general $79,746 · fundraising $57,005

• 10 · Payroll taxes

  total $531,813 · program services $423,473 · management and general $53,240 · fundraising $55,100

• 11b · Fees: legal

  total $8,131 · program services $6,725 · management and general $343 · fundraising $1,063

• 11c · Fees: accounting

  total $39,499 · program services $32,667 · management and general $1,668 · fundraising $5,164

• 11d · Fees: lobbying

  total $60,000 · program services $60,000

• 11g · Fees: other

  total $862,868 · program services $713,609 · management and general $36,445 · fundraising $112,814

• 12 · Advertising and promotion

  total $260,567 · program services $155,809 · management and general $8,700 · fundraising $96,058

• 13 · Office expenses

  total $1,367,013 · program services $1,334,380 · management and general $19,525 · fundraising $13,108

• 14 · Information technology

  total $180,746 · program services $176,431 · management and general $2,582 · fundraising $1,733

• 16 · Occupancy

  total $696,575 · program services $686,992 · management and general $9,334 · fundraising $249

• 20 · Interest

  total $1,113,875 · program services $724,018 · management and general $55,694 · fundraising $334,163

• 22 · Depreciation, depletion and amortization

  total $3,076,790 · program services $2,430,664 · management and general $646,126

• 23 · Insurance

  total $325,778 · program services $322,163 · management and general $3,451 · fundraising $164

• 24a · Other expenses: EXHIBITIONS

  total $1,006,287 · program services $1,006,287

• 24b · Other expenses: PROGRAM

  total $417,358 · program services $417,358

• 24c · Other expenses: GENERAL

  total $237,687 · program services $175,967 · management and general $61,720

• 24d · Other expenses: CARE OF COLLECTION

  total $168,626 · program services $168,626

• 24e · All other expenses

  total $380,692 · program services $280,363 · management and general $48,182 · fundraising $52,147

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,981 · end of year $10,389

• 2 · Savings and temporary cash investments

  beginning of year $14,534,005 · end of year $12,848,052

• 3 · Pledges and grants receivable

  beginning of year $5,748,317 · end of year $4,468,507

• 4 · Accounts receivable

  beginning of year $123,508 · end of year $150,317

• 8 · Inventories for sale or use

  beginning of year $227,589 · end of year $244,441

• 9 · Prepaid expenses and deferred charges

  beginning of year $367,994 · end of year $282,210

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

  $84,162,136

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

  $45,091,407

• 10c · Land, buildings and equipment, net

  beginning of year $41,362,591 · end of year $39,070,729

• 11 · Investments: publicly traded securities

  beginning of year $29,007,164 · end of year $31,761,788

• 15 · Other assets

  beginning of year $2,746,256 · end of year $2,684,553

• 17 · Accounts payable and accrued expenses

  beginning of year $1,329,852 · end of year $1,285,794

• 19 · Deferred revenue

  beginning of year $326,377 · end of year $341,376

• 23 · Secured mortgages and notes payable

  beginning of year $14,355,412 · end of year $13,091,979

• 24 · Unsecured notes and loans payable

  beginning of year $3,700,000 · end of year $3,700,000

• 25 · Other liabilities

  beginning of year $160,119 · end of year $271,124

• 27 · Net assets without donor restrictions

  beginning of year $30,854,334 · end of year $29,867,489

• 28 · Net assets with donor restrictions

  beginning of year $43,401,311 · end of year $42,963,224

The filer's explanations (Part III)

PART I, LINE 1A

THE MUSEUM HOLDS A SOCIAL CLUB MEMBERSHIP FOR THE EXECUTIVE DIRECTOR AND CEO. THIS MEMBERSHIP ALLOWS THE EXECUTIVE DIRECTOR TO HOST OUT-OF-TOWN MUSEUM DIRECTORS, CURATORS, ARTISTS, AND SPEAKERS. ADDITIONALLY, THE CLUB SERVES AS A VENUE FOR MEETINGS WITH POTENTIAL DONORS AND CULTURAL LEADERS.