Massachusetts Museum Of Contemporary Art Foundation Inc
- Assets
- $85.3m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 227
- Location
- North Adams, MA
- Founding
- 06/1993
- Data as of
- 09/2021
- EIN
- 04-3113688
Organization Overview
Massachusetts Museum Of Contemporary Art Foundation Inc is located in North Adams, MA. The organization was established in 1993. As of 09/2021, Massachusetts Museum Of Contemporary Art Foundation Inc employed 227 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Museum Of Contemporary Art Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Massachusetts Museum Of Contemporary Art Foundation Inc generated $22.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $15.0m during the year ending 09/2021. While expenses have increased by 4.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREATION AND OPERATION OF WORLD CLASS CONTEMPORARY ART MUSEUM AND SECURING RELATED FUNDING.
Describe the Organization's Program Activity:
BUILDING AND GROUNDS- FACILITIES OPERATIONS AND MAINTENANCE OF THE ENTIRE MASS MOCA CAMPUS. THE COST OF REALTY OPERATIONS ALLOCABLE TO OTHER PROGRAM SERVICES, SUPPORTING SERVICES, AND AUXILIARY ACTIVITIES HAS NOT BEEN DETERMINED.
VISUAL ARTS MASS MOCA EXHIBITS TEMPORARY LARGE SCALE INSTALLATIONS AND EXHIBITIONS
SPECIAL PROJECTS-VARYING PROJECTS RELATED TO TOURISM, ECONOMIC DEVELOPMENT, TENANT FIT OUT,AND COMMUNITY AND YOUTH SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Thompson Founding Director | 0 | $432,387 | |
Tracy Moore Deputy Director | 40 | $209,234 | |
Timur F Galen Chairman | OfficerTrustee | 0 | $0 |
Robert L Gold Treasurer | OfficerTrustee | 0 | $0 |
John Derosa Clerk | OfficerTrustee | 0 | $0 |
Alan L Beller Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dcg Design Pty Ltd Industrial -Skyspace | 9/29/21 | $523,915 |
Waterman Excavating Inc Contractor Services | 9/29/21 | $1,786,468 |
Saldo Electric Inc Electrical Services | 9/29/21 | $181,261 |
Douglas J Wooliver & Sons Inc Roof Repair Services | 9/29/21 | $151,991 |
Barnaby Heating And Cooling Llc Hvac And Plumbing Service | 9/29/21 | $498,048 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $685,995 |
| Fundraising events | $570,948 |
| Related organizations | $0 |
| Government grants | $3,395,834 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,703,173 |
| Noncash contributions included in lines 1a–1f | $314,938 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,355,950 |
| Total Program Service Revenue | $3,030,443 |
| Investment income | $586,270 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,884,016 |
| Net Gain/Loss on Asset Sales | $599,112 |
| Net Income from Fundraising Events | -$60,927 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $301,086 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,079,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $976,725 |
| Compensation of current officers, directors, key employees. | $235,029 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,124,609 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $750,261 |
| Payroll taxes | $398,674 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,661 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $167,782 |
| Fees for services: Other | $3,854,990 |
| Advertising and promotion | $140,353 |
| Office expenses | $5,476 |
| Information technology | $178,622 |
| Royalties | $0 |
| Occupancy | $1,186,065 |
| Travel | $75,020 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $82,884 |
| Conferences, conventions, and meetings | $29,369 |
| Interest | $92,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,375,233 |
| Insurance | $257,070 |
| All other expenses | $98,850 |
| Total functional expenses | $14,988,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,316,854 |
| Pledges and grants receivable | $4,491,041 |
| Accounts receivable, net | $232,859 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $219,686 |
| Inventories for sale or use | $421,458 |
| Prepaid expenses and deferred charges | $31,256 |
| Net Land, buildings, and equipment | $39,599,788 |
| Investments—publicly traded securities | $32,972,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $85,285,918 |
| Accounts payable and accrued expenses | $1,815,638 |
| Grants payable | $0 |
| Deferred revenue | $548,545 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,322,564 |
| Unsecured mortgages and notes payable | $1,136,630 |
| Other liabilities | $0 |
| Total liabilities | $5,823,377 |
| Net assets without donor restrictions | $34,063,516 |
| Net assets with donor restrictions | $45,399,025 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $85,285,918 |
Grants Recieved
Over the last fiscal year, we have identified 30 grants that Massachusetts Museum Of Contemporary Art Foundation Inc has recieved totaling $6,777,200.
| Awarding Organization | Amount |
|---|---|
Fidelity Non-Profit Management Foundation Boston, MA PURPOSE: CONSTRUCTION | $2,132,000 |
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE NATIONAL EXPANSION OF ARTISTS AT WORK, WHICH INTEGRATES ART AND ARTISTS THROUGH SUSTAINABLE EMPLOYMENT AND PARTNERSHIP MODELS INTO THE REBUILDING OF HEALTHY COMMUNITIES | $1,500,000 |
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE NATIONAL EXPANSION OF ARTISTS AT WORK, WHICH INTEGRATES ART AND ARTISTS THROUGH SUSTAINABLE EMPLOYMENT AND PARTNERSHIP MODELS INTO THE REBUILDING OF HEALTHY COMMUNITIES | $1,500,000 |
Rockefeller Philanthropy Advisors Inc New York, NY PURPOSE: GENERAL | $311,649 |
Barr Foundation Boston, MA PURPOSE: ARTS & CREATIVITY: TO PROVIDE GENERAL OPERATING SUPPORT | $300,000 |
Barr Foundation Boston, MA PURPOSE: ARTS & CREATIVITY: TO SUPPORT ASSETS FOR ARTISTS TO STRENGTHEN ITS CORE PROFESSIONAL DEVELOPMENT AND ASSET-BUILDING SERVICES AND TO IMPLEMENT KEY STRATEGIC PLAN PRIORITIES | $170,000 |
Endowment Analysis
| Beg. Balance | $9,084,435 |
| Earnings | $1,883,247 |
| Other Expense | $1,350,000 |
| Ending Balance | $9,617,682 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Museum Of Contemporary Art Foundation Inc North Adams, MA | $85,285,918 | $22,079,829 |
Harvard Business School Club Of New York Inc New York, NY | $2,494,386 | $2,020,153 |
Harvard Business School Association Of Boston Milton, MA | $278,615 | $363,912 |
National Graduate School Of Quality Management Inc West Falmouth, MA | $0 | $2,519 |
Lynn Business-Education Foundation Inc Lynn, MA | $111,500 | $0 |
Harbus News Corporation Boston, MA | $173,768 | $0 |
Granville Academy Of Waterbury Inc Waterbury, CT | $25,336 | $0 |
Vscpa Educational Foundation Danville, VT | $26,038 | $0 |