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Nonprofiteer
← BOCA RATON MUSEUM FOUNDATION INC

Form 990 for tax year 2024

Filed by BOCA RATON MUSEUM FOUNDATION INC.

Totals

Total revenue
$228,146
Total expenses
$152,015
Contributions and grants received
$0
Grants paid
$100,000
Program service revenue
$0
Investment income
$228,146
Other revenue
$0
Total assets, end of year
$11,546,323
Total liabilities, end of year
$2,223,828
Net assets or fund balances, end of year
$9,322,495
Program services expenses (Part IX)
$100,000
Management and general expenses
$52,015
Fundraising expenses
$0
Program service expenses (Part III)
$100,000

Program services were 65.8% 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.

  • 3 · Investment income

    total $190,243 · excluded $190,243

  • 7a · Gross sales of assets other than inventory

    securities $1,383,106

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

    securities $1,345,203

  • 7c · Gain or loss

    securities $37,903

  • 7d · Net gain or loss

    total $37,903 · excluded $37,903

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,000 · program services $100,000

  • 11a · Fees: management

    total $52,015 · management and general $52,015

Balance sheet

Part X, book values.

  • 11 · Investments: publicly traded securities

    beginning of year $7,453,487 · end of year $8,772,328

  • 15 · Other assets

    beginning of year $3,525,233 · end of year $2,773,995

  • 25 · Other liabilities

    beginning of year $2,223,828 · end of year $2,223,828

  • 27 · Net assets without donor restrictions

    beginning of year $3,452,928 · end of year $3,335,451

  • 28 · Net assets with donor restrictions

    beginning of year $5,301,964 · end of year $5,987,044

Mission and programs · 2024

Mission

THE FOUNDATION WAS ESTABLISHED TO RECEIVE AND ADMINISTER DONATIONS AND BEQUESTS FOR THE BENEFIT AND SUPPORT OF THE BOCA RATON MUSEUM OF ART.

  • THE FOUNDATION WAS ESTABLISHED TO RECEIVE AND ADMINISTER DONATIONS AND BEQUESTS FOR THE BENEFIT OF THE BOCA RATON MUSEUM OF ART.

    Expenses $100,000 · Grants $100,000

As filed on the 2024 return.

Listed in Part VII

  • Gail E Cohen

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • John Desprez II

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Jody Harrison Grass

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Paola Luptak Jakobson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Tamara Morgenstern

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Edward F Smith III

    ASST TREASURER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Ena Heller

    DIRECTOR & CEO

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Lorraine Gilsen

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Daniel Wolgin

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Irvin M Lippman

    EXECUTIVE DIRECTOR

    Total calculated
    $241,867
    From this org
    $237,046
    From related orgs
    $0
    Other
    $4,821
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $237,046
    Bonus
    $0
    Other
    $0
    Deferred
    $4,821
    Nontaxable benefits
    $0
    Filer's total
    $241,867

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

  • 3 · Written employment contract
  • 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

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
2024
Filed
17 August 2026
IRS schema version
2024v5.5
Source object
202632299349302228

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