Totals
- Total revenue
- $1,065,770
- Total expenses
- $360,907
- Contributions and grants received
- $937,603
- Grants paid
- $0
- Program service revenue
- $20,672
- Investment income
- $66,804
- Other revenue
- $40,691
- Total assets, end of year
- $4,072,750
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $4,072,750
- Program services expenses (Part IX)
- $240,498
- Management and general expenses
- $87,917
- Fundraising expenses
- $32,492
- Program service expenses (Part III)
- $240,498
Program services were 66.6% 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
$33,879
-
1e · Government grants (contributions)
$280,269
-
1f · All other contributions, gifts and grants
$623,455
-
2a · Program service revenue: ART EDUCATION
total $10,313 · related or exempt $10,313
-
2b · Program service revenue: EXHIBITIONS
total $8,748 · related or exempt $8,748
-
2c · Program service revenue: ADMISSIONS
total $1,611 · related or exempt $1,611
-
3 · Investment income
total $28,449 · excluded $28,449
-
6a · Gross rents
personal property $4,300
-
6c · Rental income or loss
personal property $4,300
-
6d · Net rental income or loss
total $4,300 · related or exempt $4,300
-
7a · Gross sales of assets other than inventory
securities $276,286
-
7b · Less cost or other basis and sales expenses
securities $237,931
-
7c · Gain or loss
securities $38,355
-
7d · Net gain or loss
total $38,355 · related or exempt $38,355
-
8a · Fundraising events: gross income
$58,192
-
8b · Fundraising events: direct expenses
$22,934
-
8c · Net income from fundraising events
total $35,258
-
10a · Gross sales of inventory
$2,312
-
10b · Cost of goods sold
$1,179
-
10c · Net income from sales of inventory
total $1,133 · related or exempt $1,133
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $75,000 · program services $26,250 · management and general $30,000 · fundraising $18,750
-
7 · Other salaries and wages
total $98,680 · program services $80,286 · management and general $11,496 · fundraising $6,898
-
9 · Other employee benefits
total $6,400 · program services $3,900 · management and general $1,750 · fundraising $750
-
10 · Payroll taxes
total $13,393 · program services $8,215 · management and general $3,200 · fundraising $1,978
-
11c · Fees: accounting
total $11,111 · program services $1,279 · management and general $9,524 · fundraising $308
-
11f · Fees: investment management
total $8,049 · management and general $8,049
-
12 · Advertising and promotion
total $1,935 · program services $901 · fundraising $1,034
-
13 · Office expenses
total $6,557 · program services $3,081 · management and general $2,033 · fundraising $1,443
-
16 · Occupancy
total $25,812 · program services $22,328 · management and general $2,153 · fundraising $1,331
-
22 · Depreciation, depletion and amortization
total $33,397 · program services $32,253 · management and general $1,144
-
23 · Insurance
total $12,755 · program services $1,375 · management and general $11,380
-
24a · Other expenses: REPAIRS & MAINTENANCE
total $42,526 · program services $42,526
-
24b · Other expenses: EXHIBITIONS
total $12,473 · program services $12,473
-
24c · Other expenses: DUES & SUBSCRIPTIONS
total $6,850 · management and general $6,850
-
24d · Other expenses: EDUCATION & OUTREACH
total $5,631 · program services $5,631
-
24e · All other expenses
total $338 · management and general $338
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $635,079 · end of year $186,111
-
2 · Savings and temporary cash investments
beginning of year $1,102,309 · end of year $1,044,125
-
10a · Land, buildings and equipment: cost or other basis
$3,300,122
-
10b · Land, buildings and equipment: accumulated depreciation
$457,608
-
10c · Land, buildings and equipment, net
beginning of year $1,571,867 · end of year $2,842,514
-
27 · Net assets without donor restrictions
beginning of year $2,371,574 · end of year $3,437,000
-
28 · Net assets with donor restrictions
beginning of year $937,681 · end of year $635,750
Mission and programs · 2024
Mission
THE FREEPORT ART MUSEUM CREATES EXPERIENCES THAT SPARK IMAGINATION AND ENGAGEMENT IN THE ARTS FOR ALL PEOPLE BY PRESENTING EXHIBITIONS AND CULTURAL EVENTS, ADVANCING ARTS EDUCATION, AND EXCELLING IN COLLECTION STEWARDSHIP.
-
ART MUSEUM - VISITORS TO EXHIBITS AND COLLECTIONS INCLUDING OFF-SITE ACTIVITIES. MUSEUM ALSO PROVIDES CLASSES FOR ADULTS AND CHILDREN IN THE VISUAL AND PERFORMING ARTS.
Expenses $240,498 · Revenue $20,672
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
JESSICA MODICA
EXECUTIVE DI
- Total calculated
- $75,000
- From this org
- $75,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
MARK DUREIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JOSH ELLIOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
NANCY HEYEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
VANESSA HUGHES
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
KAREN KLECKNER
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
TIM MAHONEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
AARON MERCIER
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 1
-
JON PALMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ANDREW REETER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JOY SELLERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SHANNON WENZEL
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 2 February 2026
- IRS schema version
- 2024v5.0
- Source object
- 202620429349301007
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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