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Nonprofiteer
← NORTH DAKOTA MUSEUM OF ART FOUNDATION

Form 990 for tax year 2022

Filed by NORTH DAKOTA MUSEUM OF ART FOUNDATION.

Totals

Total revenue
$102,894
Total expenses
$372,501
Contributions and grants received
$30,000
Grants paid
$362,743
Program service revenue
$0
Investment income
$72,894
Other revenue
$0
Total assets, end of year
$2,105,713
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,105,713
Program services expenses (Part IX)
$362,743
Management and general expenses
$9,758
Fundraising expenses
$0
Program service expenses (Part III)
$362,743

Program services were 97.4% 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

    $30,000

  • 3 · Investment income

    total $68,920 · unrelated business $0 · excluded $68,920

  • 7a · Gross sales of assets other than inventory

    securities $114,398

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

    securities $110,424

  • 7c · Gain or loss

    securities $3,974

  • 7d · Net gain or loss

    total $3,974 · related or exempt $0 · unrelated business $0 · excluded $3,974

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $362,743 · program services $362,743

  • 11c · Fees: accounting

    total $1,250 · program services $0 · management and general $1,250 · fundraising $0

  • 11f · Fees: investment management

    total $8,478 · program services $0 · management and general $8,478 · fundraising $0

  • 24a · Other expenses: BANK FEE

    total $30 · program services $0 · management and general $30 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,480 · end of year $5,230

  • 4 · Accounts receivable

    beginning of year $72,699 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,134,828 · end of year $2,100,483

  • 15 · Other assets

    beginning of year $61,672 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,928,180 · end of year $1,412,215

  • 28 · Net assets with donor restrictions

    beginning of year $374,499 · end of year $693,498

Mission and programs · 2022

Mission

PROMOTION & EDUCATION OF THE ARTS THROUGH SUPPORT OF THE NORTH DAKOTA MUSEUM OF ART

  • THE FOUNDATION HOLDS INVESTMENTS AS BOTH ENDOWMENTS AND RESTRICTED FUNDS TO BENEFIT THE NORTH DAKOTA MUSEUM OF ART WHICH PROMOTES APPRECIATION OF THE ARTS FOR THE REGION. DISTRIBUTIONS WERE MADE TO THE MUSEUM IN SUPPORT OF ITS MISSION IN FISCAL YEAR ENDED JUNE 30, 2023 TOTALING $362,743.

    Expenses $362,743 · Grants $362,743 · Revenue $102,894

As filed on the 2022 return.

Listed in Part VII

  • David Molman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Julie Blehm

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lowell Nelson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Clifford Haugan

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Nancy Friese

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Larson

    ND MOA CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

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.

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
28 September 2023
IRS schema version
2022v5.0
Source object
202312929349300416

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