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Nonprofiteer
← ARKANSAS MUSEUM OF FINE ARTS FOUNDATION

Form 990 for tax year 2022

Filed by ARKANSAS MUSEUM OF FINE ARTS FOUNDATION.

Totals

Total revenue
$14,055,557
Total expenses
$28,764,737
Contributions and grants received
$13,766,063
Grants paid
$25,163,802
Program service revenue
$0
Investment income
$355,938
Other revenue
-$66,444
Total assets, end of year
$69,331,609
Total liabilities, end of year
$4,092,798
Net assets or fund balances, end of year
$65,238,811
Program services expenses (Part IX)
$28,764,737
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$28,764,737

Program services were 100.0% 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.

  • 1e · Government grants (contributions)

    $857,143

  • 1f · All other contributions, gifts and grants

    $12,908,920

  • 3 · Investment income

    total $1,281,392 · excluded $1,281,392

  • 7a · Gross sales of assets other than inventory

    securities $15,506,657

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

    securities $16,432,111

  • 7c · Gain or loss

    securities -$925,454

  • 7d · Net gain or loss

    total -$925,454 · excluded -$925,454

  • 11a · Other revenue: CASH SURRENDER OF LIFE INSURANCE

    total $6,876 · excluded $6,876

  • 11b · Other revenue: PASSTHROUGH INCOME

    total -$73,320 · unrelated business -$40,898 · excluded -$32,422

  • 11e · Other revenue, total

    -$66,444

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,163,802 · program services $25,163,802

  • 7 · Other salaries and wages

    total $1,304,083 · program services $1,304,083

  • 11c · Fees: accounting

    total $79,900 · program services $79,900

  • 11f · Fees: investment management

    total $194,482 · program services $194,482

  • 23 · Insurance

    total $81,292 · program services $81,292

  • 24a · Other expenses: NEW BUILDING EXPENSE

    total $1,232,070 · program services $1,232,070

  • 24b · Other expenses: ACQUISITIONS - FINE ART

    total $545,164 · program services $545,164

  • 24c · Other expenses: RESTORATION/CONSERVATIO

    total $136,882 · program services $136,882

  • 24d · Other expenses: SHIPPING

    total $16,129 · program services $16,129

  • 24e · All other expenses

    total $10,933 · program services $10,933

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,737,664 · end of year $386,636

  • 2 · Savings and temporary cash investments

    beginning of year $25,145,193 · end of year $13,872,615

  • 4 · Accounts receivable

    beginning of year $11,677,551 · end of year $10,610,807

  • 7 · Other notes and loans receivable

    beginning of year $7,280,000 · end of year $7,280,000

  • 9 · Prepaid expenses and deferred charges

    end of year $13,503

  • 12 · Investments: other securities

    beginning of year $42,301,349 · end of year $36,405,007

  • 15 · Other assets

    beginning of year $925,075 · end of year $763,041

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,795,438 · end of year $3,410,448

  • 25 · Other liabilities

    beginning of year $553,138 · end of year $682,350

  • 27 · Net assets without donor restrictions

    beginning of year $15,878,298 · end of year $10,450,222

  • 28 · Net assets with donor restrictions

    beginning of year $68,839,958 · end of year $54,788,589

Mission and programs · 2022

Mission

THE ARKANSAS MUSEUM OF FINE ARTS FOUNDATION WAS CREATED BY THE ARKANSAS MUSEUM OF FINE ARTS IN 1972 TO MANAGE AND ADMINISTER AN ENDOWMENT FUND FOR THE BENEFIT OF THE MUSEUM AND TO HOLD LEGAL TITLE TO THE COLLECTION OF ART OBJECTS.

  • THE ARKANSAS MUSEUM OF FINE ARTS FOUNDATION'S MISSION IS TO SUPPORT THE OPERATION OF AND TO PROVIDE A STABLE SOURCE OF INCOME TO THE ARKANSAS MUSEUM OF FINE ARTS.

    Expenses $28,764,737 · Grants $25,163,802

As filed on the 2022 return.

Listed in Part VII

  • Warren Stephens

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.3

  • George O'Connor

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • Ben Hussman

    VICE - CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.3

  • Claiborne Deming

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Robert Tucker

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • John Ed Anthony

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Harriet Stephens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Terri Erwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Michael Mayton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Victoria Ramirez

    SECRETARY

    Total calculated
    $284,859
    From this org
    $0
    From related orgs
    $284,859
    Other
    $0
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $284,859 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $284,859 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. 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

None.

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

  • ARKANSAS MUSEUM OF FINE ARTS

    $23,674,039

    THE MISSION OF THE FOUNDATION IS TO SUPPORT THIS ENTITY.

  • BLOSSOMOUTREACH22 INC

    $1,489,763

    THE MISSION OF THE FOUNDATION IS TO SUPPORT THIS ENTITY.

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.

  • ARKANSAS MUSEUM OF FINE ARTS

    115 · MUSEUM · AR

  • BLOSSOMOUTREACH22 INC

    501(C)(3) · SUPPORT ORGANIZATION FOR MUSEUM · AR

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303199349308960

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