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Nonprofiteer
← RACINE ART MUSEUM ASSOCIATION INC

Form 990 for tax year 2022

Filed by RACINE ART MUSEUM ASSOCIATION INC.

Totals

Total revenue
$2,118,021
Total expenses
$2,200,688
Contributions and grants received
$1,295,019
Grants paid
$511
Program service revenue
$173,387
Investment income
$544,180
Other revenue
$105,435
Total assets, end of year
$11,889,290
Total liabilities, end of year
$238,358
Net assets or fund balances, end of year
$11,650,932
Program services expenses (Part IX)
$1,556,779
Management and general expenses
$389,398
Fundraising expenses
$254,511
Program service expenses (Part III)
$1,556,779

Program services were 70.7% 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.

  • 1c · Fundraising events

    $28,800

  • 1e · Government grants (contributions)

    $632,572

  • 1f · All other contributions, gifts and grants

    $633,647

  • 2a · Program service revenue: TUITION (EDUCATION)

    total $78,156 · related or exempt $78,156

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $72,140 · related or exempt $72,140

  • 2c · Program service revenue: EXHIBITION ACTIVITIES

    total $21,936 · related or exempt $21,936

  • 2d · Program service revenue: RENTAL INCOME

    total $800 · related or exempt $800

  • 2e · Program service revenue: HOTEL VERDANT REVENUE

    total $355 · related or exempt $355

  • 3 · Investment income

    total $398,956 · excluded $398,956

  • 7a · Gross sales of assets other than inventory

    securities $2,153,634

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

    securities $2,008,410

  • 7c · Gain or loss

    securities $145,224

  • 7d · Net gain or loss

    total $145,224 · excluded $145,224

  • 8a · Fundraising events: gross income

    $85,472

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

    $28,800

  • 8b · Fundraising events: direct expenses

    $50,053

  • 8c · Net income from fundraising events

    total $35,419 · excluded $35,419

  • 10a · Gross sales of inventory

    $112,816

  • 10b · Cost of goods sold

    $52,589

  • 10c · Net income from sales of inventory

    total $60,227 · related or exempt $60,227

  • 11a · Other revenue: MISCELLANEOUS

    total $9,789 · related or exempt $9,789

  • 11e · Other revenue, total

    $9,789

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $511 · program services $511

  • 5 · Compensation of officers, directors and key employees

    total $189,266 · program services $140,647 · management and general $20,511 · fundraising $28,108

  • 7 · Other salaries and wages

    total $919,062 · program services $603,472 · management and general $149,204 · fundraising $166,386

  • 8 · Pension plan contributions

    total $52,081 · program services $31,894 · management and general $9,195 · fundraising $10,992

  • 9 · Other employee benefits

    total $92,398 · program services $79,114 · management and general $1,023 · fundraising $12,261

  • 10 · Payroll taxes

    total $88,597 · program services $54,043 · management and general $20,384 · fundraising $14,170

  • 11c · Fees: accounting

    total $15,073 · management and general $15,073

  • 11f · Fees: investment management

    total $32,659 · management and general $32,659

  • 11g · Fees: other

    total $28,896 · management and general $28,896

  • 12 · Advertising and promotion

    total $82,606 · program services $69,137 · fundraising $13,469

  • 13 · Office expenses

    total $50,608 · program services $15,361 · management and general $35,247

  • 14 · Information technology

    total $26,185 · program services $13,183 · management and general $13,002

  • 16 · Occupancy

    total $146,054 · program services $138,869 · management and general $5,545 · fundraising $1,640

  • 17 · Travel

    total $4,547 · program services $4,030 · management and general $468 · fundraising $49

  • 19 · Conferences, conventions and meetings

    total $999 · program services $999

  • 20 · Interest

    total $840 · management and general $840

  • 22 · Depreciation, depletion and amortization

    total $222,172 · program services $196,668 · management and general $19,683 · fundraising $5,821

  • 23 · Insurance

    total $43,348 · program services $16,332 · management and general $27,016

  • 24a · Other expenses: BUILDING MAINTENANCE

    total $60,188 · program services $53,569 · management and general $5,232 · fundraising $1,387

  • 24b · Other expenses: PROGRAMMING EXPENSE

    total $44,827 · program services $44,827

  • 24c · Other expenses: GROUNDS MAINTENANCE

    total $35,264 · program services $35,033 · management and general $178 · fundraising $53

  • 24d · Other expenses: MATERIALS

    total $29,762 · program services $29,762

  • 24e · All other expenses

    total $34,745 · program services $29,328 · management and general $5,242 · fundraising $175

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,797 · end of year $17,806

  • 2 · Savings and temporary cash investments

    beginning of year $206,548 · end of year $241,707

  • 3 · Pledges and grants receivable

    beginning of year $276,634 · end of year $250,286

  • 4 · Accounts receivable

    beginning of year $3,679 · end of year $4,287

  • 8 · Inventories for sale or use

    beginning of year $60,111 · end of year $58,055

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,165 · end of year $21,511

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

    $8,229,523

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

    $4,283,271

  • 10c · Land, buildings and equipment, net

    beginning of year $4,107,141 · end of year $3,946,252

  • 11 · Investments: publicly traded securities

    beginning of year $7,420,418 · end of year $6,455,248

  • 12 · Investments: other securities

    beginning of year $901,839 · end of year $745,047

  • 15 · Other assets

    beginning of year $82,837 · end of year $149,091

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,371 · end of year $86,157

  • 19 · Deferred revenue

    beginning of year $12,725 · end of year $79,746

  • 24 · Unsecured notes and loans payable

    beginning of year $235,415

  • 25 · Other liabilities

    beginning of year $21,332 · end of year $72,455

  • 27 · Net assets without donor restrictions

    beginning of year $5,769,304 · end of year $5,966,423

  • 28 · Net assets with donor restrictions

    beginning of year $7,006,022 · end of year $5,684,509

Mission and programs · 2022

Mission

THE MISSION OF THE RACINE ART MUSEUM IS TO EXHIBIT, COLLECT, PRESERVE, AND EDUCATE IN THE CONTEMPORARY VISUAL ARTS.

Activities or mission (Part I)

THE MISSION IS TO EXHIBIT, COLLECT, PRESERVE, AND EDUCATE IN THE CONTEMPORARY VISUAL ARTS.

  • STUDIO ART CLASS EDUCATION - RAMA'S WUSTUM MUSEUM HAS ONE OF THE LARGEST MUSEUM-BASED STUDIO ART PROGRAMS IN WISCONSIN. SINCE THE MUSEUM OPENED IN 1941, MORE THAN 40 AFFORDABLE STUDIO ART COURSES IN VARIOUS MEDIA ARE OFFERED EACH SEMESTER AND DURING THE SUMMER FOR CHILDREN AND ADULTS. STUDENTS OF ALL AGES AND SKILL LEVELS - BEGINNING TO ADVANCED - LEARN SIDE-BY-SIDE WITH INSTRUCTORS WHO ARE WORKING ARTISTS, KNOWN LOCALLY AND NATIONALLY FOR THEIR TALENT. COSTS VARY DEPENDING UPON THE LENGTH OF CLASS AND MATERIALS. SOME CLASSES REQUIRE THE PURCHASE OF ADDITIONAL SUPPLIES.

    Expenses $342,080 · Grants $511 · Revenue $150,296

  • EXHIBITIONS - RAMA SPONSORS 7 BLOCKS OF FINE ART EXHIBITIONS ANNUALLY IN TWO MUSEUMS WHICH ATTRACT OVER 50,000 VISITORS. RAMA REPRESENTS ARTISTS IN SOLO, GROUP AND JURIED EXHIBITIONS. MEMBERSHIP INCLUDES UNLIMITED FREE MUSEUM ADMISSION AND REDUCED RATES ON CLASSES AND WORKSHOPS AND RETAIL STORE DISCOUNTS.

    Expenses $948,411 · Revenue $21,936

  • RAMA OFFERS REASONABLY PRICED MEETING ROOM RENTALS FOR BUSINESSES, GROUPS, AND INDIVIDUALS ALONG WITH ENRICHMENT OPPORTUNITIES INCLUDING CURATORIAL PRESENTATIONS, MUSEUM TOURS, AND HANDS-ON ART PROJECTS FOR GROUP RETREATS, TEAM BUILDING, AND PROJECT PLANNING. RAMA PROVIDES A MUSEUM STORE FOR THE CONVENIENCE OF VISITORS.

    Expenses $266,288 · Revenue $71,171

As filed on the 2022 return.

Listed in Part VII

  • Nancy Wheeler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nichole Elcano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denise Wilcox

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James C Small

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Loretta Olsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Niel Staeck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nicole Farbo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Boland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Debra Karp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dale Zierten

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carl Hipp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sheronda Glass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laura Million

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janet Pobar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Justin Peterman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laura Maaske

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Meier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diane Ruffo

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ben Flegel

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Clair Holland

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • John Crimmings

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Tony May

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bruce Pepich

    EXECUTIVE DIR.

    Total calculated
    $187,582
    From this org
    $174,875
    From related orgs
    $0
    Other
    $12,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,875
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,707
    Filer's total
    $187,582

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

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
17 October 2023
IRS schema version
2022v5.0
Source object
202312909349301006

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