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Nonprofiteer
← MUSCARELLE MUSEUM OF ART FOUNDATION

Form 990 for tax year 2024

Filed by MUSCARELLE MUSEUM OF ART FOUNDATION.

Totals

Total revenue
$3,170,049
Total expenses
$13,671,285
Contributions and grants received
$2,750,995
Grants paid
$0
Program service revenue
$228,227
Investment income
$264,171
Other revenue
-$73,344
Total assets, end of year
$4,309,057
Total liabilities, end of year
$2,171,608
Net assets or fund balances, end of year
$2,137,449
Program services expenses (Part IX)
$13,206,200
Management and general expenses
$393,870
Fundraising expenses
$71,215
Program service expenses (Part III)
$13,206,200

Program services were 96.6% 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

    $345,958

  • 1c · Fundraising events

    $167,697

  • 1f · All other contributions, gifts and grants

    $2,237,340

  • 1g · Noncash contributions included above

    $167,697

  • 2a · Program service revenue: ADMISSIONS

    total $228,227 · related or exempt $228,227

  • 3 · Investment income

    total $264,171 · excluded $264,171

  • 7a · Gross sales of assets other than inventory

    securities $1,273,672

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

    securities $1,273,672

  • 7c · Gain or loss

    securities $0

  • 8a · Fundraising events: gross income

    $522,533

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

    $167,697

  • 8b · Fundraising events: direct expenses

    $508,689

  • 8c · Net income from fundraising events

    total $13,844 · excluded $13,844

  • 10a · Gross sales of inventory

    $94,729

  • 10b · Cost of goods sold

    $181,917

  • 10c · Net income from sales of inventory

    total -$87,188 · related or exempt -$87,188

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $218,416 · program services $32,759 · management and general $141,796 · fundraising $43,861

  • 11c · Fees: accounting

    total $39,805 · management and general $39,805

  • 11g · Fees: other

    total $49,847 · program services $48,347 · management and general $1,500

  • 12 · Advertising and promotion

    total $11,000 · program services $11,000

  • 13 · Office expenses

    total $30,531 · program services $18,437 · management and general $12,094

  • 17 · Travel

    total $105,218 · program services $101,137 · management and general $2,859 · fundraising $1,222

  • 22 · Depreciation, depletion and amortization

    total $2,750 · program services $2,750

  • 23 · Insurance

    total $12,169 · management and general $12,169

  • 24a · Other expenses: CONSTRUCTION EXPENSES

    total $12,490,734 · program services $12,490,734

  • 24b · Other expenses: EXHIBIT STORAGE & EQUIP

    total $227,623 · program services $227,623

  • 24c · Other expenses: MUSEUM SUPPORT

    total $221,151 · program services $52,400 · management and general $168,751

  • 24d · Other expenses: FREIGHT, SHIPPING, & DE

    total $162,840 · program services $156,285 · fundraising $6,555

  • 24e · All other expenses

    total $99,201 · program services $64,728 · management and general $14,896 · fundraising $19,577

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $57,964 · end of year $86,613

  • 2 · Savings and temporary cash investments

    beginning of year $158,103 · end of year $523,391

  • 3 · Pledges and grants receivable

    beginning of year $1,894,495 · end of year $2,378,662

  • 4 · Accounts receivable

    beginning of year $46,029 · end of year $75,886

  • 8 · Inventories for sale or use

    beginning of year $14,939 · end of year $61,195

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

    $38,498

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

    $2,750

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $35,748

  • 11 · Investments: publicly traded securities

    beginning of year $11,073,946 · end of year $1,147,562

  • 15 · Other assets

    beginning of year $1,470

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,356 · end of year $74,469

  • 25 · Other liabilities

    beginning of year $622,188 · end of year $2,097,139

  • 27 · Net assets without donor restrictions

    beginning of year $300,229 · end of year $326,741

  • 28 · Net assets with donor restrictions

    beginning of year $12,314,173 · end of year $1,810,708

Mission and programs · 2024

Mission

THE MISSION OF THE MUSCARELLE MUSEUM OF ART IS TO FOSTER THE FULL INTEGRATION OF A DYNAMIC ART MUSEUM INTO THE LIFE AND LIBERAL ARTS MISSION OF WILLIAM & MARY AND TO SERVE AS A MODEL OF CURATORIAL EXCELLENCE AND A CATALYST FOR ART EXPLORATION AT WILLIAM & MARY AND IN THE SURROUNDING COMMUNITY. THE MUSCARELLE MUSEUM OF ART WILL PLAY A LEADERSHIP ROLE IN THE CREATION OF A VIBRANT NEW INTEGRATED ARTS COMPLEX AT WILLIAM & MARY. THE MUSCARELLE WILL BE AN IMPRESSIVE PORTAL TO A FACILITY THAT WILL ACCOMMODATE ALL PERFORMING AND FINE ARTS DEPARTMENTS, ENCOURAGE THE PARTICIPATION OF MANY OTHER UNIVERSITY DISCIPLINES, AND BRING TOGETHER THE CAMPUS AND THE LARGER COMMUNITY.

Activities or mission (Part I)

THE MISSION OF THE MUSCARELLE MUSEUM OF ART FOUNDATION IS TO PROVIDE FINANCIAL SUPPORT AND STRATEGIC GUIDANCE TO THE MUSCARELLE MUSEUM OF ART AT WILLIAM & MARY. THE MUSCARELLE MUSEUM OF ART IS LOCATED ON THE CAMPUS OF WILLIAM & MARY, AND SUPPORTS BOTH THE UNIVERSITY AND THE BROADER REGIONAL COMMUNITY IN THE EXPLORATION OF THE VISUAL ARTS.

  • THE MUSCARELLE MUSEUM CARES FOR AND MANAGES THE COLLECTION AND COORDINATION OF TRAVELING EXHIBITIONS. THE MUSEUM INCURS COSTS FOR CONSERVATION, ACQUISITION, SHIPPING, AND CARE OF ARTWORK.

    Expenses $13,206,200

  • THE MUSCARELLE MUSEUM OF ART PRESENTED EXHIBITS WHICH DERIVED INCOME FROM ADMISSIONS AS WELL AS EXHIBIT SALES.

    Revenue $228,227

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • THOMAS W GILLMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • JUDITH FOREHAND STARKEY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    10

  • TJ CARDWELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • GRANT HAGEN

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • BETSY C ANDERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARI ANN BANKS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUSAN S CARRON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID CRANK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANN CRITCHFIELD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH W DELK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DANIEL A DUTCHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAWN EDMISTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CARRIE O GARLAND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BETSY HANLON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JANE KAPLAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LEANNE D KURLAND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELAINE S MCBETH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PENNY MEREDITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANN B MILLIMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PAULA MOORADIAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH L MUSCARELLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TINA NOVOGRATZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES D PENNY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HELEN B REVELEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN M RING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINE C ROWLAND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JANE Y SPURLING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEPHANIE TUTTLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BRITT H VAN DEUSEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID M BRASHEAR

    PRESIDENT

    Total calculated
    $261,805
    From this org
    $0
    From related orgs
    $202,085
    Other
    $59,720
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,085 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $17,637 related
    Nontaxable benefits
    $0 + $42,083 related
    Filer's total
    $0 + $261,805 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

No itemized grants to organizations 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
15 May 2026
IRS schema version
2024v5.5
Source object
202601359349302410

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