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Nonprofiteer
← FORT WORTH ART ASSOCIATION ENDOWMENT FOUNDATION

Form 990 for tax year 2022

Filed by FORT WORTH ART ASSOCIATION ENDOWMENT FOUNDATION.

Totals

Total revenue
$39,225,697
Total expenses
$8,188,108
Contributions and grants received
$35,363,479
Grants paid
$6,936,084
Program service revenue
$0
Investment income
$3,679,090
Other revenue
$183,128
Total assets, end of year
$183,660,285
Total liabilities, end of year
$3,470,566
Net assets or fund balances, end of year
$180,189,719
Program services expenses (Part IX)
$6,936,084
Management and general expenses
$1,252,024
Fundraising expenses
$0
Program service expenses (Part III)
$6,936,084

Program services were 84.7% 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.

  • 1f · All other contributions, gifts and grants

    $35,363,479

  • 1g · Noncash contributions included above

    $7,386,980

  • 3 · Investment income

    total $2,585,982 · excluded $2,585,982

  • 7a · Gross sales of assets other than inventory

    securities $7,018,802

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

    securities $5,925,694

  • 7c · Gain or loss

    securities $1,093,108

  • 7d · Net gain or loss

    total $1,093,108 · excluded $1,093,108

  • 11a · Other revenue: NET INCOME FROM PARTNERSHIPS

    total $139,703 · excluded $139,703

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $43,425 · excluded $43,425

  • 11e · Other revenue, total

    $183,128

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,936,084 · program services $6,936,084

  • 11f · Fees: investment management

    total $1,247,304 · management and general $1,247,304

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $4,720 · management and general $4,720

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,213,267 · end of year $3,681,883

  • 3 · Pledges and grants receivable

    beginning of year $4,720 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $77,737,568 · end of year $109,360,234

  • 12 · Investments: other securities

    beginning of year $60,444,246 · end of year $70,329,899

  • 15 · Other assets

    beginning of year $63,898 · end of year $288,269

  • 25 · Other liabilities

    beginning of year $4,008,405 · end of year $3,470,566

  • 27 · Net assets without donor restrictions

    beginning of year $68,170,054 · end of year $85,389,854

  • 28 · Net assets with donor restrictions

    beginning of year $71,285,240 · end of year $94,799,865

Mission and programs · 2022

Mission

TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF THE FORT WORTH ART ASSOCIATION, A SEC. 501(C)(3) ORGANIZATION. THE FOUNDATION IS RESPONSIBLE FOR THE ADMINISTRATION OF THE LONG TERM INVESTMENTS HELD FOR THE BENEFIT OF THE ASSOCIATION AND ITS AFFILIATES.

  • THE FORT WORTH ART ASSOCIATION ENDOWMENT FOUNDATION IS A GROUP OF FUNDS HELD FOR THE PURPOSE OF FUNDING ART PURCHASES AND OTHER PROGRAM SERVICES IN SUPPORT OF THE FORT WORTH ART ASSOCIATION.

    Expenses $6,936,084 · Grants $6,936,084

As filed on the 2022 return.

Listed in Part VII

  • Ardon Moore

    PRESIDENT/TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Amar Tanna

    VICE PRESIDENT/TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.1 related

  • Rafa Garza

    TREASURER/TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.1 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.

Schedule J

Answered yes

  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE BOARD APPROVES COMPENSATION VIA A 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

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
2022
Filed
21 February 2024
IRS schema version
2022v5.0
Source object
202440739349301554

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