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← VERO BEACH MUSEUM OF ART FOUNDATION

Form 990 for tax year 2023

Filed by VERO BEACH MUSEUM OF ART FOUNDATION.

Totals

Total revenue
$5,068,515
Total expenses
$1,148,590
Contributions and grants received
$3,514,967
Grants paid
$1,083,589
Program service revenue
$0
Investment income
$1,553,548
Other revenue
$0
Total assets, end of year
$41,259,250
Total liabilities, end of year
$383,112
Net assets or fund balances, end of year
$40,876,138
Program services expenses (Part IX)
$1,083,589
Management and general expenses
$65,001
Fundraising expenses
$0
Program service expenses (Part III)
$1,083,589

Program services were 94.3% 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

    $3,514,967

  • 3 · Investment income

    total $419,395 · excluded $419,395

  • 7a · Gross sales of assets other than inventory

    securities $3,057,874

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

    securities $1,923,721

  • 7c · Gain or loss

    securities $1,134,153

  • 7d · Net gain or loss

    total $1,134,153 · excluded $1,134,153

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,083,589 · program services $1,083,589

  • 11b · Fees: legal

    total $21,767 · management and general $21,767

  • 11c · Fees: accounting

    total $3,725 · management and general $3,725

  • 11f · Fees: investment management

    total $36,008 · management and general $36,008

  • 13 · Office expenses

    total $402 · management and general $402

  • 23 · Insurance

    total $3,099 · management and general $3,099

Balance sheet

Part X, book values.

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $41,259,250

  • 25 · Other liabilities

    beginning of year $0 · end of year $383,112

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $5,894,080

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $34,982,058

Mission and programs · 2023

Mission

SEE RESPONSE TO FORM 990, PAGE 1, LINE 1.

Activities or mission (Part I)

THE VERO BEACH MUSEUM OF ART FOUNDATION IS COMMITTED TO MANAGING ENDOWMENTS AND EXTENDING THE REACH AND SUSTAINING THE WORK OF THE VERO BEACH MUSEUM OF ART, THE SUPPORTED ORGANIZATION, BY SECURING BOTH CURRENT AND FUTURE FINANCIAL COMMITMENTS FROM ITS DONORS. AN ENDOWMENT, WHERE PRINCIPAL REMAINS INTACT AND GIFTS ARE INVESTED FOR GROWTH AND TO GENERATE EARNINGS, WILL SERVE AS A CONSISTENT REVENUE STREAM YEAR AFTER YEAR.

  • TO RAISE AND MAINTAIN AN ENDOWMENT FUND FOR THE VERO BEACH MUSEUM OF ART, INC., AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, ID# 59-1867408

    Expenses $1,083,589 · Grants $1,083,589

As filed on the 2023 return.

Listed in Part VII

  • MOLLY HART

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS PIPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HARVEY STRUTHERS

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL HOBEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRADLEY ANDERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DOUG TANSILL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN COLEY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • RONALD MCGLYNN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LISA BULLOCK

    DIRECTOR

    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

  • VERO BEACH MUSEUM OF ART INC

    $1,083,589

    TO PROVIDE SUSTAINING SUPPORT FOR THE SUPPORTED ORGANIZATION'S ACTIVITIES IN ACCORDANCE WITH THE ENDOWMENT'S ADOPTED SPENDING POLICY.

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
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202531199349302228

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