Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $1,527,104

• 1e · Government grants (contributions)

  $1,850,833

• 1f · All other contributions, gifts and grants

  $19,238,900

• 1g · Noncash contributions included above

  $753,890

• 2a · Program service revenue: ADMISSIONS

  total $2,569,862 · related or exempt $2,569,862

• 2b · Program service revenue: MEMBERSHIPS

  total $1,943,587 · related or exempt $1,943,587

• 2c · Program service revenue: RENTAL SALES GALLERY

  total $353,068 · related or exempt $353,068

• 2d · Program service revenue: TUITION AND FEES

  total $95,089 · related or exempt $95,089

• 2e · Program service revenue: OTHER PROGRAM FEES

  total $64,456 · related or exempt $64,456

• 3 · Investment income

  total $1,668,428 · excluded $1,668,428

• 6a · Gross rents

  real property $1,571,623 · personal property $729,250

• 6b · Less rental expenses

  real property $654,700 · personal property $402,014

• 6c · Rental income or loss

  real property $916,923 · personal property $327,236

• 6d · Net rental income or loss

  total $1,244,159 · unrelated business $468,677 · excluded $775,482

• 10a · Gross sales of inventory

  $990,912

• 10b · Cost of goods sold

  $498,397

• 10c · Net income from sales of inventory

  total $492,515 · related or exempt $351,566 · unrelated business $140,949

• 11a · Other revenue: MISCELLANEOUS

  total $285,272 · related or exempt $285,272

• 11e · Other revenue, total

  $285,272

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $25,000 · program services $25,000

• 5 · Compensation of officers, directors and key employees

  total $1,069,391 · program services $199,581 · management and general $438,723 · fundraising $431,087

• 7 · Other salaries and wages

  total $10,328,501 · program services $7,429,753 · management and general $1,197,664 · fundraising $1,701,084

• 8 · Pension plan contributions

  total $284,903 · program services $189,906 · management and general $39,195 · fundraising $55,802

• 9 · Other employee benefits

  total $1,247,300 · program services $894,148 · management and general $162,551 · fundraising $190,601

• 10 · Payroll taxes

  total $873,711 · program services $610,780 · management and general $119,959 · fundraising $142,972

• 11b · Fees: legal

  total $27,408 · program services $8,214 · management and general $2,140 · fundraising $17,054

• 11c · Fees: accounting

  total $94,932 · management and general $94,932

• 11e · Fees: professional fundraising services

  total $65,508 · fundraising $65,508

• 11f · Fees: investment management

  total $185,696 · management and general $185,696

• 11g · Fees: other

  total $2,692,298 · program services $2,393,792 · management and general $175,638 · fundraising $122,868

• 12 · Advertising and promotion

  total $601,053 · program services $478,464 · management and general $5,993 · fundraising $116,596

• 13 · Office expenses

  total $1,083,280 · program services $789,519 · management and general $124,989 · fundraising $168,772

• 14 · Information technology

  total $566,478 · program services $285,820 · management and general $156,477 · fundraising $124,181

• 16 · Occupancy

  total $1,663,633 · program services $1,408,225 · management and general $245,077 · fundraising $10,331

• 17 · Travel

  total $727,528 · program services $639,026 · management and general $21,709 · fundraising $66,793

• 19 · Conferences, conventions and meetings

  total $98,846 · program services $40,088 · management and general $20,230 · fundraising $38,528

• 22 · Depreciation, depletion and amortization

  total $1,812,622 · program services $1,377,306 · management and general $413,971 · fundraising $21,345

• 23 · Insurance

  total $297,774 · program services $105,847 · management and general $191,927

• 24a · Other expenses: ART & EXHIBITIONS COSTS

  total $2,873,216 · program services $2,873,216

• 24b · Other expenses: ALLOCATIONS AND OTHER

  total $698,345 · program services $1,196,347 · management and general -$757,089 · fundraising $259,087

• 24c · Other expenses: EVENTS

  total $413,938 · program services $333,865 · management and general $1,421 · fundraising $78,652

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,822,842 · end of year $5,755,647

• 2 · Savings and temporary cash investments

  beginning of year $480,500 · end of year $5,873,582

• 3 · Pledges and grants receivable

  beginning of year $17,579,319 · end of year $14,401,539

• 4 · Accounts receivable

  beginning of year $189,038 · end of year $147,127

• 8 · Inventories for sale or use

  beginning of year $158,626 · end of year $90,558

• 9 · Prepaid expenses and deferred charges

  beginning of year $617,339 · end of year $686,267

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

  $182,274,629

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

  $44,501,283

• 10c · Land, buildings and equipment, net

  beginning of year $105,670,686 · end of year $137,773,346

• 11 · Investments: publicly traded securities

  beginning of year $77,197,692 · end of year $69,536,047

• 12 · Investments: other securities

  beginning of year $16,478,878 · end of year $17,104,966

• 15 · Other assets

  beginning of year $7,359,338 · end of year $7,107,705

• 17 · Accounts payable and accrued expenses

  beginning of year $10,064,908 · end of year $9,893,145

• 19 · Deferred revenue

  beginning of year $1,261,787 · end of year $1,289,112

• 23 · Secured mortgages and notes payable

  end of year $12,068,893

• 25 · Other liabilities

  beginning of year $5,952,651 · end of year $5,631,858

• 27 · Net assets without donor restrictions

  beginning of year $60,945,131 · end of year $60,070,716

• 28 · Net assets with donor restrictions

  beginning of year $157,329,781 · end of year $169,523,060

The filer's explanations (Part III)

PART I, LINE 1A

MEMBERSHIP IN THE ARLINGTON BUSINESS CLUB IS USED FOR ENTERTAINING AND BUSINESS DISCUSSIONS IN PORTLAND. MODEST TAX GROSS-UP FOR GIFT CARD.

PART I, LINE 7

DISCRETIONARY BONUSES WERE AWARDED BY THE BOARD OF TRUSTEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• R2464 LOTS LLC

  LAND MANAGEMENT · OR · income $426,316 · assets $6,893,639

  Directly controlled by PORTLAND ART MUSEUM