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Nonprofiteer
← MUSEO DE ARTE DE PUERTO RICO INC

Form 990 for tax year 2022

Filed by MUSEO DE ARTE DE PUERTO RICO INC.

Totals

Total revenue
$6,010,331
Total expenses
$5,993,835
Contributions and grants received
$4,039,960
Grants paid
$0
Program service revenue
$915,898
Investment income
$352,535
Other revenue
$701,938
Total assets, end of year
$36,597,366
Total liabilities, end of year
$23,671,295
Net assets or fund balances, end of year
$12,926,071
Program services expenses (Part IX)
$1,113,924
Management and general expenses
$4,640,828
Fundraising expenses
$239,083
Program service expenses (Part III)
$1,113,924

Program services were 18.6% 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

    $173,723

  • 1e · Government grants (contributions)

    $1,418,765

  • 1f · All other contributions, gifts and grants

    $2,447,472

  • 1g · Noncash contributions included above

    $538,820

  • 2a · Program service revenue: FUNDRAISING

    total $490,570 · related or exempt $490,570

  • 2b · Program service revenue: EXHIBITIONS

    total $226,093 · related or exempt $226,093

  • 2c · Program service revenue: EDUCATION AND PROGRAMS

    total $186,070 · related or exempt $186,070

  • 2d · Program service revenue: ART SEMMINARS

    total $13,165 · related or exempt $13,165

  • 3 · Investment income

    total $380,824 · related or exempt $380,824

  • 7a · Gross sales of assets other than inventory

    securities $1,438,687

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

    securities $1,466,976

  • 7c · Gain or loss

    securities -$28,289

  • 7d · Net gain or loss

    total -$28,289 · related or exempt -$28,289

  • 8a · Fundraising events: gross income

    $981,173

  • 8b · Fundraising events: direct expenses

    $408,893

  • 8c · Net income from fundraising events

    total $572,280

  • 10a · Gross sales of inventory

    $120,377

  • 10b · Cost of goods sold

    $59,547

  • 10c · Net income from sales of inventory

    total $60,830 · related or exempt $60,830

  • 11a · Other revenue: EMPLOYEE RETENTION CREDIT

    total $68,828 · related or exempt $68,828

  • 11e · Other revenue, total

    $68,828

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $961,146 · program services $369,992 · management and general $354,840 · fundraising $236,314

  • 11c · Fees: accounting

    total $51,980 · management and general $51,980

  • 11g · Fees: other

    total $285,745 · program services $18,451 · management and general $264,525 · fundraising $2,769

  • 12 · Advertising and promotion

    total $3,617 · management and general $3,617

  • 13 · Office expenses

    total $281,703 · management and general $281,703

  • 16 · Occupancy

    total $1,235,382 · management and general $1,235,382

  • 22 · Depreciation, depletion and amortization

    total $179,979 · management and general $179,979

  • 24a · Other expenses: UTILITIES

    total $1,293,623 · management and general $1,293,623

  • 24b · Other expenses: IN-KIND EXPENSES

    total $538,820 · management and general $538,820

  • 24c · Other expenses: RESEARCH AND CONSERVATION

    total $536,205 · program services $536,205

  • 24d · Other expenses: EDUCATION AND PUBLIC PROG

    total $189,276 · program services $189,276

  • 24e · All other expenses

    total $436,359 · management and general $436,359

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,693,510 · end of year $4,297,504

  • 4 · Accounts receivable

    beginning of year $2,560,890 · end of year $2,421,145

  • 8 · Inventories for sale or use

    beginning of year $135,966 · end of year $152,297

  • 9 · Prepaid expenses and deferred charges

    beginning of year $178,789 · end of year $79,964

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

    $5,611,321

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

    $4,587,534

  • 10c · Land, buildings and equipment, net

    beginning of year $1,210,473 · end of year $1,023,787

  • 11 · Investments: publicly traded securities

    beginning of year $12,060,742 · end of year $9,665,498

  • 15 · Other assets

    end of year $18,957,171

  • 17 · Accounts payable and accrued expenses

    beginning of year $315,485 · end of year $239,895

  • 19 · Deferred revenue

    beginning of year $4,499,960 · end of year $4,216,987

  • 25 · Other liabilities

    beginning of year $307,664 · end of year $19,214,413

  • 27 · Net assets without donor restrictions

    beginning of year $4,706,236 · end of year $4,809,733

  • 28 · Net assets with donor restrictions

    beginning of year $8,011,025 · end of year $8,116,338

Mission and programs · 2022

Mission

OPERATING AN ART MUSEUM THAT PROMOTES THE KNOWLEDGE AND APPRECIATION OF THE VISUAL ARTS IN PUERTO RICO.

  • EXHIBITIONS, RESEARCH AND CONSERVATION AND REGISTRATION: THIS DEPARTMENT IS RESPONSIBLE FOR PROMOTING THE KNOWLEDGE AND APPRECIATION OF THE ARTS THROUGH EXHIBITIONS FEATURED BY THE MUSEUM. THIS DEPARTMENT IS THE GUARDIAN OF THE ARTWORK AND TAKES CARE OF ITS CONSERVATION AND PRESERVATION FOR FUTURE GENERATIONS.

    Expenses $1,095,473 · Revenue $186,070

  • EDUCATION AND PUBLIC PROGRAMS FUNDED BY FOUNDATIONS AND GRANTS: THE EDUCATION AND PUBLIC PROGRAMS DEPARTMENT FOSTER FORMAL AND INFORMAL LEARNING EXPERIENCES, BASED ON THE MUSEUM'S PERMANENT COLLECTION. THROUGH THEIR PROGRAMS THEY ENCOURAGE THE DISCOVERY OF THE AESTHETIC, HISTORICAL, SOCIAL AND CULTURAL VALUES OF THE PERMANENT COLLECTION OF THE MUSEUM AND ITS TEMPORARY EXHIBITIONS. THE DEPARTMENT DEVELOPS PUBLIC PROGRAMS AND INTERPRETATIVE STRATEGIES IN TUNE WITH THE NEEDS AND INTEREST OF OUR DIVERSE AUDIENCES. ALSO, DEVELOP CURRICULUM-BASED PROGRAMS AND ACTIVITIES FOR PRE SCHOOL STUDENTS TO SUPPORT THEIR ACADEMIC ACHIEVEMENT AND FOSTER 21ST CENTURY SKILLS.

  • THE MUSEUM'S EDUCATIONAL DEPARTMENT ALONG WITH OTHER CULTURAL PROGRAM FOSTER FORMAL AND INFORMAL LEARNING EXPERIENCES, BASED ON THE MUSEUM'S PERMANENT COLLECTION. THROUGH THEIR PROGRAMS THEY ENCOURAGE THE DISCOVERY OF THE AESTHETIC, HISTORICAL, SOCIAL AND CULTURAL VALUES OF THE PERMANENT COLLECTION OF THE MUSEUM AND ITS TEMPORARY EXHIBITIONS. THE DEPARTMENT DEVELOPS PROGRAMS AND INTERPRETATIVE STRATEGIES IN TUNE WITH THE NEEDS AND INTEREST OUR DIVERSE AUDIENCES.

    Expenses $18,451

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Juan A Larrea French

    PRESIDENT

    Total calculated
    $0

  • Veronica Viso

    VICE-PRESIDE

    Total calculated
    $0

  • Melba I Acosta Febo

    TREASURER

    Total calculated
    $0

  • Gloria Benitez

    SECRETARY

    Total calculated
    $0

  • Fernando R Batlle

    TRUSTEE

    Total calculated
    $0

  • John T Belk III

    TRUSTEE

    Total calculated
    $0

  • Rene De La Cruz

    TRUSTEE

    Total calculated
    $0

  • Eduardo R Emanuelli

    TRUSTEE

    Total calculated
    $0

  • Diego R Figueroa

    TRUSTEE

    Total calculated
    $0

  • Jan Maduro

    TRUSTEE

    Total calculated
    $0

  • Bertita J Martinez

    TRUSTEE

    Total calculated
    $0

  • Gilberto Marxuach

    TRUSTEE

    Total calculated
    $0

  • Gilberto Monzon

    TRUSTEE

    Total calculated
    $0

  • Mariam Noble Guillemard

    TRUSTEE

    Total calculated
    $0

  • Guillermo Paz

    TRUSTEE

    Total calculated
    $0

  • Jose Domingo Perez

    TRUSTEE

    Total calculated
    $0

  • Lillian Ramos Alcover

    TRUSTEE

    Total calculated
    $0

  • Cesar Reyes Laborde

    TRUSTEE

    Total calculated
    $0

  • Marcos Rodriguez-Ema

    TRUSTEE

    Total calculated
    $0

  • Ignacio Lopez

    TRUSTEE

    Total calculated
    $0

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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FIDEICOMISO DEL MUSEO DE ARTE

    TRUST · LEASE MUSE · PR

Provenance

Return type
form_990
Tax year
2022
Filed
13 October 2023
IRS schema version
2022v5.0
Source object
202420789349301177

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