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Nonprofiteer
← EDMUNDSON ART FOUNDATION INC

Form 990 for tax year 2023

Filed by EDMUNDSON ART FOUNDATION INC.

Totals

Total revenue
$10,771,768
Total expenses
$10,115,267
Contributions and grants received
$3,669,065
Grants paid
$0
Program service revenue
$428,074
Investment income
$4,423,462
Other revenue
$2,251,167
Total assets, end of year
$159,753,152
Total liabilities, end of year
$1,683,812
Net assets or fund balances, end of year
$158,069,340
Program services expenses (Part IX)
$7,606,735
Management and general expenses
$1,826,226
Fundraising expenses
$682,306
Program service expenses (Part III)
$7,606,735

Program services were 75.2% 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

    $346,887

  • 1c · Fundraising events

    $197,481

  • 1e · Government grants (contributions)

    $84,000

  • 1f · All other contributions, gifts and grants

    $3,040,697

  • 2a · Program service revenue: STUDIO PROGRAMS

    total $402,490 · related or exempt $402,490

  • 2b · Program service revenue: SALES OF COMMISSIONED PRINTS

    total $3,585 · related or exempt $3,585

  • 2c · Program service revenue: REPRODUCTION & LOAN FEES

    total $5,752 · related or exempt $5,752

  • 2d · Program service revenue: SALES OF EXHIBITION CATALOGS

    total $16,247 · related or exempt $16,247

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,552,460 · excluded $1,552,460

  • 6a · Gross rents

    real property $50,306

  • 6b · Less rental expenses

    real property $146,105

  • 6c · Rental income or loss

    real property -$95,799 · personal property $0

  • 6d · Net rental income or loss

    total -$95,799 · unrelated business -$36,029 · excluded -$59,770

  • 7a · Gross sales of assets other than inventory

    securities $2,871,002

  • 7c · Gain or loss

    securities $2,871,002 · other assets $0

  • 7d · Net gain or loss

    total $2,871,002 · excluded $2,871,002

  • 8a · Fundraising events: gross income

    $63,725

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

    $197,481

  • 8b · Fundraising events: direct expenses

    $128,661

  • 8c · Net income from fundraising events

    total -$64,936 · excluded -$64,936

  • 10a · Gross sales of inventory

    $376,145

  • 10b · Cost of goods sold

    $188,464

  • 10c · Net income from sales of inventory

    total $187,681 · unrelated business $4,124 · excluded $183,557

  • 11a · Other revenue: INCOME FROM FUNDS HELD IN TRUST

    total $2,003,440 · excluded $2,003,440

  • 11b · Other revenue: ALL OTHER REVENUE

    total $220,781 · excluded $220,781

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,224,221

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $670,005 · program services $598,231 · management and general $53,188 · fundraising $18,586

  • 7 · Other salaries and wages

    total $3,322,236 · program services $2,118,397 · management and general $915,171 · fundraising $288,668

  • 8 · Pension plan contributions

    total $67,367 · program services $44,316 · management and general $16,548 · fundraising $6,503

  • 9 · Other employee benefits

    total $363,795 · program services $206,590 · management and general $122,982 · fundraising $34,223

  • 10 · Payroll taxes

    total $269,785 · program services $189,867 · management and general $58,930 · fundraising $20,988

  • 11b · Fees: legal

    total $24,094 · management and general $24,094

  • 11c · Fees: accounting

    total $41,112 · management and general $41,112

  • 11g · Fees: other

    total $269,568 · program services $84,260 · management and general $257,427 · fundraising -$72,119

  • 12 · Advertising and promotion

    total $298,344 · program services $237,056 · management and general $25,761 · fundraising $35,527

  • 13 · Office expenses

    total $235,709 · program services $133,051 · management and general $85,448 · fundraising $17,210

  • 14 · Information technology

    total $193,425 · program services $174,889 · management and general $11,952 · fundraising $6,584

  • 16 · Occupancy

    total $820,960 · program services $705,382 · management and general $4,659 · fundraising $110,919

  • 17 · Travel

    total $308,092 · program services $103,955 · management and general $110,939 · fundraising $93,198

  • 22 · Depreciation, depletion and amortization

    total $410,383 · program services $410,383

  • 23 · Insurance

    total $221,372 · program services $157,434 · management and general $57,891 · fundraising $6,047

  • 24a · Other expenses: PURCHASED WORKS OF ART

    total $1,679,150 · program services $1,679,150

  • 24b · Other expenses: PACKING & SHIPPING

    total $455,275 · program services $455,275

  • 24c · Other expenses: ALL OTHER EXPENSES

    total $354,517 · program services $198,421 · management and general $40,124 · fundraising $115,972

  • 24d · Other expenses: PROGRAM SUPPLIES

    total $110,078 · program services $110,078

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,184,889 · end of year $5,342,973

  • 3 · Pledges and grants receivable

    beginning of year $3,145,798 · end of year $1,450,781

  • 4 · Accounts receivable

    beginning of year $1,511,605 · end of year $255,052

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $109,613 · end of year $119,517

  • 9 · Prepaid expenses and deferred charges

    beginning of year $201,812 · end of year $379,998

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

    $21,836,353

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

    $18,008,307

  • 10c · Land, buildings and equipment, net

    beginning of year $3,914,567 · end of year $3,828,046

  • 11 · Investments: publicly traded securities

    beginning of year $59,367,611 · end of year $69,676,331

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $71,244,005 · end of year $78,700,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $691,831 · end of year $945,218

  • 19 · Deferred revenue

    beginning of year $335,705 · end of year $496,678

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $302,772 · end of year $241,916

  • 27 · Net assets without donor restrictions

    beginning of year $31,584,729 · end of year $34,083,297

  • 28 · Net assets with donor restrictions

    beginning of year $111,764,863 · end of year $123,986,043

Mission and programs · 2023

Mission

THE DES MOINES ART CENTER ENGAGES DIVERSE LOCAL, NATIONAL, AND INTERNATIONAL AUDIENCES WITH THE ART OF TODAY THROUGH ITS MUSEUM AND SCHOOL, ADDING TO THE CULTURAL RECORD THROUGH COLLECTIONS AND PROGRAMS. THE DES MOINES ART CENTER BELIEVES IN THE POWER OF ART TO INSPIRE PERSONAL, POLITICAL, AND SOCIAL TRANSFORMATION. WE COMMIT TO EXHIBIT AND EXPLORE THOUGHT PROVOKING MODERN AND CONTEMPORARY ART. WE CONNECT PEOPLE AND ART BY OFFERING OPPORTUNITIES FOR FEELING, IMAGINING, DREAMING AND CREATING. WE PROMOTE CURIOSITY AND EMBRACE CRITICAL AND EMPATHETIC THINKING WITH A SPIRIT OF OPENNESS. WE STRIVE TO BE A WELCOMING AND EQUITABLE CULTURAL RESOURCE. THIS EFFORT TO ENSURE ACCESS TO ART FOR EVERYONE HAS BEEN A CORE TENET OF THE MUSEUM SINCE ITS FOUNDING. ADMISSION IS ALWAYS FREE FOR ALL.

Activities or mission (Part I)

THROUGH ITS COLLECTIONS, EXHIBITIONS, AND EDUCATIONAL PROGRAMMING, THE DES MOINES ART CENTER PROVIDES OPPORTUNITIES FOR TRANSFORMATIONAL ART EXPERIENCES (CONTINUED ON SCHEDULE O)

  • FOR OUR 75TH ANNIVERSARY YEAR, THE EXHIBITION PROGRAM FOR THE ANNA K. MEREDITH GALLERY WAS CHOSEN TO HIGHLIGHT THE BEST OF THE PAST, PRESENT, AND FUTURE OF THIS INSTITUTION. EACH EXHIBITION FEATURED WORK BY IOWA-BASED ARTISTS AS WELL AS WORKS FROM THE PERMANENT COLLECTION, CELEBRATING ART MADE IN THIS STATE AND GROUNDED IN OUR COMMUNITY. KICKING OFF 2023, ART CENTER: 75 YEARS OF IOWA ART FEATURED OVER 100 WORKS BY DOZENS OF ARTISTS, MOSTLY TAKEN FROM THE PERMANENT COLLECTION. ALL OF THE INCLUDED ARTISTS ARE CONNECTED TO IOWA IN SOME WAY, HAVE LIVED, WORKED, AND MADE ART IN THE STATE. PERFORMANCE ARTWORKS BY RACHEL MERRIL AND FIRAT ERDIM WERE COMMISSIONED FOR THE EXHIBITION, AND A SELECTION OF WORKS CHOSEN WITH DUANE SLICK WAS FEATURED IN THE EXIT GALLERY. THE COMMUNITY GROUP AL EXITO COLLABORATED WITH CURATORS LAURA BURKHALTER AND MIA LAUFER TO CREATE ARTISTIC INTERVENTIONS IN THE EXHIBITION COMMEMORATING THE PRESENCE OF THE LATINX COMMUNITY IN IOWA'S HISTORY. UNDERNEATH EVERYTHING: HUMILITY AND GRANDEUR IN CONTEMPORARY CERAMICS, HELD IN THE ANNA K. MEREDITH GALLERY AND UPPER PEI FEATURED AN INTERNATIONAL GROUP OF TWENTY ARTISTS WORKING WITH CERAMICS. CLAY IS THE HUMBLEST OF MATERIALS, OFTEN OVERLOOKED AND MORE READILY ASSOCIATED WITH A MORNING CUP OF COFFEE THAN THE INTERNATIONAL ART WORLD. BUT THERE IS AN EXPANSIVENESS TO WORK MADE OR BASED IN THIS MEDIUM, AS THESE ARTISTS PUSH THE LIMITATIONS OF CLAY, ATTACHING LAYERS OF CONCEPTUAL MEANING AND PLAYING WITH THE BOUNDARIES BETWEEN CERAMICS AND OTHER MEDIA INCLUDING FILM, PHOTOGRAPHY, PAINTING, PERFORMANCE, AND INSTALLATION. THE EXHIBITION NAVIGATED THIS TENSION, HONORING THE HUMILITY OF THE MEDIUM WHILE SIMULTANEOUSLY EVOKING A SENSE OF GRANDEUR AND POSSIBILITY. CURATED BY MIA LAUFER, UNDERNEATH EVERYTHING WAS ORGANIZED IN CONSULTATION WITH AN ARTIST ADVISORY COMMITTEE INCLUDING KATAYOUN AMJADI, DONTE K. HAYES, INGRID LILLIGREN, AND CHUCK PURVIANCE. FOUR OF THE ARTISTS - INGRID LILLIGREN, DONTE K. HAYES, ELIZA AU, AND THEASTER GATES HAVE CONNECTIONS TO IOWA. THE EXHIBITION ALSO TRAVELED TO THE GRAND RAPIDS ART MUSEUM. RUNNING FROM OCTOBER 7, 2023 - JANUARY 14, 2024, TRANSFORM ANY ROOM, FEATURED TEN ARTISTS EXPLORING DOMESTIC SPACES AND THE OBJECTS FOUND WITHIN. THESE ELEMENTS ARE OFTEN PERCEIVED AS GENDERED, RELATED TO CERTAIN CULTURAL BACKGROUNDS, OR CAN SIGNIFY SOCIAL OR ECONOMIC STATUS. THIS GROUP EXHIBITION EXPLORED SUBVERSIVE, POLITICIZED, AND SOMETIMES GLAMORIZED VERSIONS OF THE OBJECTS WE BRING INTO OUR HOMES. WHETHER THEIR INITIAL INSPIRATION IS AN OBJECT OF UTILITY, COMFORT, OR DECOR, THE RESULTING ARTWORKS INCLUDED HERE COMMENT ON LABOR, WIDER SOCIAL ISSUES, AND LIFE EVENTS IN THIS TIME AND PLACE. WORKS FROM THE MUSEUM'S COLLECTION BY NICK CAVE, MARTHA ROSLER, AND ANNE WILSON, WERE INCLUDED, AND TWO IOWA BASED ARTISTS, TJ DEDEAUX-NORRIS AND ANGE ALTENHOFEN MADE WORKS SPECIFICALLY FOR THE SHOW. OTHER ARTISTS IN THE EXHIBITION INCLUDE MAX COLBY, FAIG AHMED, JAY LYNN GOMEZ, LIZA LOU, AND LYDIA RICCI. TRANSFORM ANY ROOM WAS ORGANIZED BY SENIOR CURATOR LAURA BURKHALTER. THE JOHN BRADY PRINT GALLERY, THE CURATORIAL TEAM CHOSE TO HIGHLIGHT THE ART CENTER'S CONTINUALLY GROWING PHOTOGRAPHY COLLECTION, AS WELL AS SOME OF THE OLDEST WORKS IN THE COLLECTION - UNEXPECTED GEMS IN THIS MOSTLY CONTEMPORARY MUSEUM. POSTCARDS: RECENT PHOTOGRAPHY ACQUISITIONS TO THE ART CENTER'S COLLECTION, WAS CURATED BY LAURA BURKHALTER. IT FOCUSED ON LANDSCAPES, TRAVEL DOCUMENTATION, AND SCENIC IMAGERY TAKEN BY PHOTOGRAPHERS FROM THE 19TH CENTURY TO THE PRESENT. IT IS ONE OF THE FIRST EXHIBITIONS IN THIS SPACE MADE UP ENTIRELY OF PHOTOS FROM THE MUSEUM'S HOLDINGS. REMBRANDT AND HIS WORLD: 17TH-CENTURY DUTCH PRINTS FROM THE DES MOINES ART CENTER'S COLLECTION, CURATED BY MIA LAUFER, HIGHLIGHTED PORTRAITS, LANDSCAPES, AND CITYSCAPES MADE OVER THREE CENTURIES AGO. DOUBLE TAKE WAS CO-CURATED BY PHOTOGRAPHER BEN EASTER AND LAURA BURKHALTER. CHOOSING EXCLUSIVELY FROM THE MUSEUM'S PHOTOGRAPHY COLLECTIONS, PAIRS OF IMAGES WERE CHOSEN THAT EXPLORE DIFFERENCES AND SIMILARITIES BETWEEN STAGED PHOTOGRAPHS AND THOSE TAKEN IN A MORE IMPROVISED OR QUICK MANNER.

    Expenses $5,743,978 · Revenue $25,584

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $966,944

  • OUR EFFORTS INCLUDE PROVIDING ART MAKING EDUCATION AND CLASSES THROUGH OUR STUDIO ARTS SCHOOL. IN 2023 THE STUDIO DEPARTMENT PROVIDED 123 ADULT CLASSES (18+), 101 YOUTH CLASSES (AGES 3-18), AND 8 WEEKS OF 2-A-DAY CAMPS THAT SERVED 856 UNIQUE STUDENTS IN OUR AREA FROM AGES 5 - 16. THROUGH OUR SCHOOL AND VAST NETWORK OF 46 TEACHING ARTISTS, WE CAN ENGAGE WITH NUMEROUS SOCIAL AND HUMAN SERVICES WITHIN THE SURROUNDING COMMUNITY. WE OFFER ON AND OFFSITE SCHOOL ENRICHMENT PROGRAMING THAT AIMS TO CREATE OPPORTUNITIES FOR CHILD CENTERED LEARNING AND FAMILY ENGAGEMENT. THE ART CENTERS STUDIO PROGRAM PROVIDES MULTIPLE ART MAKING MEDIUMS FROM PAINTING AND DRAWING TO METALS AND CERAMICS THROUGH BOTH TUITION-BASED ART CLASSES AND FREE ART PROGRAMMING THANKS TO OUR COLLABORATING ORGANIZATIONS AND DONATION NETWORK. IN 2023, WE PROVIDED 145 SCHOLARSHIPS TO YOUTH AND ADULTS IN OUR SURROUNDING COMMUNITY.

    Expenses $895,813 · Revenue $402,490

As filed on the 2023 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • ANDREA ABEL

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DARREN JIRSA

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • GRAHAM COOK

    CHAIRPERSON AND EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • JEFF CHUNGATH

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • RENEE MONTZ

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • AMY ANDERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CRAIG SHADUR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAN KEOUGH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAWN MARTINEZ OROPEZA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELLEN HUBBELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELLEN YEE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JASON GROSS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN KRANTZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOSHUA MANDELBAUM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KATE HIGHTSHOE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KYLE KRAUSE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LIZ ADELMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARY CHAPMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PAMELA BASS-BOOKEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PATRICIA MCFARLAND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICHARD DEMING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICK BALLINGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ROSEMARY PARSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TOM KOEHN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • VICTORIA BRENTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • VIRGINA LAURIDSEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WAYNE REAMES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BONNIE VALVERDE

    SENIOR DIR OF FINANCE & OPS

    Total calculated
    $186,597
    From this org
    $159,272
    From related orgs
    $0
    Other
    $27,325
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,272
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $27,325
    Filer's total
    $186,597

  • JEFF FLEMING

    EXECUTIVE DIRECTOR (OUTGOING 04/30/2023)

    Total calculated
    $226,228
    From this org
    $203,332
    From related orgs
    $0
    Other
    $22,896
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,332
    Bonus
    $3,000
    Other
    $0
    Deferred
    $14,144
    Nontaxable benefits
    $8,752
    Filer's total
    $226,228

  • KELLY BAUM

    EXECUTIVE DIRECTOR (INCOMING 05/01/2023)

    Total calculated
    $257,180
    From this org
    $235,336
    From related orgs
    $0
    Other
    $21,844
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,336
    Bonus
    $11,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,844
    Filer's total
    $257,180

  • JILL FEATHERSTONE

    SENIOR DIR OF EDUCATION

    Total calculated
    $106,294
    From this org
    $103,277
    From related orgs
    $0
    Other
    $3,017
    Hours/week
    40

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOUNDATION ENTERED INTO A 457(B) DEFERRED COMPENSATION PLAN WITH THE FORMER EXECUTIVE DIRECTOR IN 2013 FOR THE PURPOSE OF CREATING A SUPPLEMENTAL RETIREMENT PLAN. EACH PLAN YEAR, THE FOUNDATION MAY DESIGNATE A CONTRIBUTION LIMITED TO THE CAP ON CONTRIBUTIONS UNDER SECTION 457 CATCH-UP LIMITATION. INTEREST IS CREDITED ON JANUARY 1 OF EACH PLAN YEAR CALCULATED BY MULTIPLYING BY THE ACCOUNT BALANCE AS OF DECEMBER 31 OF THE PRECEDING YEAR MATURITY RATE. THIS PLAN IS 100% VESTED AND WILL BE PAID OUT OVER 5 YEARS BEGINNING IN 2024. AT DECEMBER 31, 2023 THE FOUNDATION HAS A LIABILITY OF $241,916 IN VESTED BENEFITS INCLUDED IN THE DEFERRED COMPENSATION LIABILITY.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202413169349302361

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