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Nonprofiteer
← TELFAIR MUSEUM OF ART INC

Form 990 for tax year 2024

Filed by TELFAIR MUSEUM OF ART INC.

Totals

Total revenue
$9,841,959
Total expenses
$9,223,136
Contributions and grants received
$3,010,888
Grants paid
$0
Program service revenue
$2,524,053
Investment income
$4,393,895
Other revenue
-$86,877
Total assets, end of year
$62,369,455
Total liabilities, end of year
$1,120,180
Net assets or fund balances, end of year
$61,249,275
Program services expenses (Part IX)
$6,500,919
Management and general expenses
$1,818,053
Fundraising expenses
$904,164
Program service expenses (Part III)
$6,500,919

Program services were 70.5% 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.

  • 1b · Membership dues

    $217,283

  • 1c · Fundraising events

    $799,217

  • 1e · Government grants (contributions)

    $101,768

  • 1f · All other contributions, gifts and grants

    $1,892,620

  • 1g · Noncash contributions included above

    $86,098

  • 2a · Program service revenue: MUSEUM ADMISSIONS

    total $2,438,911 · related or exempt $2,438,911

  • 2b · Program service revenue: EDUCATION PROGRAM REVENUE

    total $85,142 · related or exempt $85,142

  • 3 · Investment income

    total $606,111 · excluded $606,111

  • 6a · Gross rents

    real property $117,450

  • 6b · Less rental expenses

    real property $1,483

  • 6c · Rental income or loss

    real property $115,967

  • 6d · Net rental income or loss

    total $115,967 · excluded $115,967

  • 7a · Gross sales of assets other than inventory

    securities $19,137,090

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

    securities $15,349,306

  • 7c · Gain or loss

    securities $3,787,784

  • 7d · Net gain or loss

    total $3,787,784 · excluded $3,787,784

  • 8a · Fundraising events: gross income

    $72,284

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

    $799,217

  • 8b · Fundraising events: direct expenses

    $602,966

  • 8c · Net income from fundraising events

    total -$530,682 · excluded -$530,682

  • 10a · Gross sales of inventory

    $400,938

  • 10b · Cost of goods sold

    $344,838

  • 10c · Net income from sales of inventory

    total $56,100 · related or exempt $56,100

  • 11a · Other revenue: INSURANCE PROCEEDS

    total $270,055 · excluded $270,055

  • 11b · Other revenue: MISCELLANEOUS

    total $1,683 · related or exempt $1,683

  • 11e · Other revenue, total

    $271,738

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $455,971 · program services $231,832 · management and general $112,070 · fundraising $112,069

  • 7 · Other salaries and wages

    total $2,753,404 · program services $2,301,734 · management and general $265,139 · fundraising $186,531

  • 9 · Other employee benefits

    total $318,434 · program services $230,282 · management and general $49,474 · fundraising $38,678

  • 10 · Payroll taxes

    total $233,322 · program services $184,195 · management and general $27,318 · fundraising $21,809

  • 11b · Fees: legal

    total $16,845 · management and general $16,845

  • 11c · Fees: accounting

    total $64,630 · management and general $64,630

  • 11f · Fees: investment management

    total $207,309 · management and general $207,309

  • 11g · Fees: other

    total $592,656 · program services $444,662 · management and general $65,021 · fundraising $82,973

  • 12 · Advertising and promotion

    total $267,676 · program services $193,204 · management and general $28,406 · fundraising $46,066

  • 13 · Office expenses

    total $231,674 · program services $114,900 · management and general $63,956 · fundraising $52,818

  • 14 · Information technology

    total $197,674 · program services $98,836 · management and general $49,419 · fundraising $49,419

  • 16 · Occupancy

    total $1,026,658 · program services $770,585 · management and general $102,429 · fundraising $153,644

  • 17 · Travel

    total $16,568 · program services $4,141 · management and general $6,628 · fundraising $5,799

  • 19 · Conferences, conventions and meetings

    total $13,825 · program services $3,456 · management and general $5,530 · fundraising $4,839

  • 22 · Depreciation, depletion and amortization

    total $867,045 · program services $736,988 · management and general $86,705 · fundraising $43,352

  • 23 · Insurance

    total $429,290 · program services $334,687 · management and general $37,841 · fundraising $56,762

  • 24a · Other expenses: LOSS ON ASSET DISPOSAL

    total $629,333 · management and general $629,333

  • 24b · Other expenses: CURATORIAL EXPENSES

    total $568,341 · program services $566,662 · fundraising $1,679

  • 24c · Other expenses: EDUCATION

    total $205,544 · program services $205,544

  • 24d · Other expenses: CREDIT CARD PROCESSING

    total $126,937 · program services $79,211 · fundraising $47,726

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $511,175 · end of year $695,089

  • 3 · Pledges and grants receivable

    beginning of year $1,337,473 · end of year $1,200,226

  • 4 · Accounts receivable

    beginning of year $79,017 · end of year $73,945

  • 8 · Inventories for sale or use

    beginning of year $81,274 · end of year $114,428

  • 9 · Prepaid expenses and deferred charges

    beginning of year $478,535 · end of year $958,677

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

    $40,524,477

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

    $15,750,103

  • 10c · Land, buildings and equipment, net

    beginning of year $24,134,631 · end of year $24,774,374

  • 11 · Investments: publicly traded securities

    beginning of year $25,384,472 · end of year $24,020,241

  • 12 · Investments: other securities

    beginning of year $8,037,384 · end of year $9,110,633

  • 15 · Other assets

    beginning of year $1,555,826 · end of year $1,421,842

  • 17 · Accounts payable and accrued expenses

    beginning of year $677,914 · end of year $631,489

  • 19 · Deferred revenue

    beginning of year $405,869 · end of year $488,691

  • 27 · Net assets without donor restrictions

    beginning of year $37,209,682 · end of year $36,850,735

  • 28 · Net assets with donor restrictions

    beginning of year $23,306,322 · end of year $24,398,540

Listed in Part VII

  • DAVID BRENNEMAN

    CEO/EXECUTIVE DIRECTOR

    Total calculated
    $116,809
    From this org
    $105,400
    From related orgs
    $0
    Other
    $11,409
    Hours/week
    50
  • BENJAMIN SIMONS

    CEO/EXECUTIVE DIRECTOR - FORMER

    Total calculated
    $158,373
    From this org
    $156,433
    From related orgs
    $0
    Other
    $1,940
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,433
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,940
    Filer's total
    $158,373
  • JOSEPH RUDDER

    CFO/COO

    Total calculated
    $192,820
    From this org
    $186,446
    From related orgs
    $0
    Other
    $6,374
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $186,446
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,374
    Filer's total
    $192,820
  • SUSAN WILLETTS

    CO-TREASURER & CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    10
  • ALAN SHERIFF

    CO-TREASURER

    Total calculated
    $0
    Hours/week
    10
  • REBECCA G OGDEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    10
  • JOHN J NEELY III

    LEGAL COUNSEL

    Total calculated
    $0
    Hours/week
    10
  • JOSH KELLER

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    10
  • KENDALL M MCCURRY

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    10
  • TOM REILLY

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    10
  • VINCENT WEST

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    10
  • SWANN SEILER

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    10
  • KERRY BREITBART

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • JOHN E CAY IV

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • DOLLY R CHISHOLM ESQ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • LEDA CHONG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • MEREDITH R DULANY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • RONALD GANTT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • CHARLES A HINNANT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • DAVID C JOHNSON JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • CATHERINE V JOHNSTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • LORI JUDGE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • RICHARD C KESSLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • DIANE VS LEVY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • PAMELA LEWANDA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • LESLIE B LITTLEJOHN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • QUENTIN L MARLIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • ROGER MOSS JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • NANCY REARDON-SAYER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • CB RICHARDSON III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • KIMBERLY SMITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • COURTLAND STEVENS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • MARTI B SULLIVAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • STEPHEN D TAYLOR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • KIMBERLY BALLARD-WASHINGTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3
  • MATTHEW A WEST

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

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 · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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 1A
THE TELFAIR DIRECTOR BELONGS TO CHATHAM CLUB (A DINING CLUB) WITH DUES OF $85 A MONTH PAID BY THE TELFAIR MUSEUM OF ART, INC. THE DINING CLUB IS USED SOLELY FOR BOARD COMMITTEE AND BUSINESS MEETINGS/LUNCHES.
PART I, LINE 1B
THERE IS NO WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT OF THE CLUB DUES AS THE CHATHAM CLUB DIRECTLY BILLS THE TELFAIR. IT IS PAID ONCE IT HAS BEEN APPROVED BY THE DIRECTOR.
PART I, LINE 3
THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION SURVEYS OF SIMILAR ORGANIZATIONS AS WELL AS OTHER SIMILAR ORGANIZATIONS' FORM 990S AND DETERMINES THE AMOUNT TO PRESENT TO THE BOARD OF TRUSTEES. THE BOARD APPROVES THE AMOUNT DETERMINED BY THE EXECUTIVE 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349327666

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