Massachusetts Museum Of Contemporary Art Foundation Inc
- Assets
- $83.5m
- Revenue
- $21.8m
- Investments
- $0.0
- Employees
- 216
- Location
- North Adams, MA
- Founding
- 06/1993
- Data as of
- 09/2023
- 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 09/2023, Massachusetts Museum Of Contemporary Art Foundation Inc employed 216 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 09/2023, Massachusetts Museum Of Contemporary Art Foundation Inc generated $21.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $20.4m during the year ending 09/2023. While expenses have increased by 7.6% per year over the past 8 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
2023
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
PERFORMING ARTS - MASS MOCA STAGES MULTIPLE PERFORMANCES OF MUSIC, DANCE, THEATER, FILMS AND DOCUMENTARIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maud S Mandel Director | Trustee | 1 | $0 |
Steve Jenks Director | Trustee | 1 | $0 |
Sheree Stomberg Director | Trustee | 1 | $0 |
Scott M Hand Director | Trustee | 1 | $0 |
Robert L Gold Outgoing Treasurer | OfficerTrustee | 1 | $0 |
Olivier Meslay Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Office Of Performing Arts Performing Arts Curator, Booking Agent | 9/29/23 | $574,646 |
Synergi Partners Inc Cares Act Filing Agents | 9/29/23 | $338,628 |
Barnaby Heating And Cooling Llc Hvac And Plumbing Services | 9/29/23 | $336,766 |
Cda Roofing & Siding Contractors Llc Roofing Contractor | 9/29/23 | $220,600 |
Waterman Excavating Inc Contractor Services | 9/29/23 | $162,566 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,177,074 |
| Fundraising events | $541,502 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,329,049 |
| Noncash contributions included in lines 1a–1f | $76,466 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,047,625 |
| Total Program Service Revenue | $3,594,123 |
| Investment income | $1,125,609 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,801 |
| Net Rental Income | $1,955,032 |
| Net Gain/Loss on Asset Sales | -$355,325 |
| Net Income from Fundraising Events | -$154,669 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $451,096 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,807,759 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $320,000 |
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $680,201 |
| Compensation of current officers, directors, key employees. | $314,912 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,153,945 |
| Pension plan accruals and contributions | $84,505 |
| Other employee benefits | $713,605 |
| Payroll taxes | $637,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,087 |
| Fees for services: Accounting | $55,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,303 |
| Fees for services: Other | $4,557,074 |
| Advertising and promotion | $166,588 |
| Office expenses | $554,198 |
| Information technology | $281,004 |
| Royalties | $0 |
| Occupancy | $1,566,912 |
| Travel | $157,475 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,302 |
| Interest | $26,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,582,797 |
| Insurance | $358,458 |
| All other expenses | $4,849 |
| Total functional expenses | $20,427,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,123 |
| Savings and temporary cash investments | $9,042,066 |
| Pledges and grants receivable | $4,445,393 |
| Accounts receivable, net | $284,695 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $514,735 |
| Prepaid expenses and deferred charges | $248,645 |
| Net Land, buildings, and equipment | $38,934,314 |
| Investments—publicly traded securities | $29,816,639 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $83,492,610 |
| Accounts payable and accrued expenses | $2,696,555 |
| Grants payable | $0 |
| Deferred revenue | $430,386 |
| 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 | $1,974,474 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,101,415 |
| Net assets without donor restrictions | $39,325,207 |
| Net assets with donor restrictions | $39,065,988 |
| 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 | $83,492,610 |
Grants Awarded
Over the last fiscal year, Massachusetts Museum Of Contemporary Art Foundation Inc has awarded $320,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE MIDAS COLLABORATIVE INC PURPOSE: ASSETS FOR ARTISTS CAPACITY-BUILDING GRANT FUNDS FOR NEW ENGLAND & THE BERKSHIRES | $300,000 |
CONFERENCE OF CHURCHES INC PURPOSE: IN SUPPORT OF 2023 ARTISTS OF COLOR ACCELERATE FELLOWSHIP PROGRAM | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Museum Of Contemporary Art Foundation Inc North Adams, MA | $83,492,610 | $21,807,759 |
Harvard Business School Club Of New York Inc New York, NY | $2,719,915 | $1,301,634 |
National Graduate School Of Quality Management Inc West Falmouth, MA | $0 | $2,519 |
Harbus News Corporation Boston, MA | $123,703 | $0 |
Lynn Business-Education Foundation Inc Lynn, MA | $83,106 | $0 |
Granville Academy Of Waterbury Inc Waterbury, CT | $25,336 | $0 |
Vscpa Educational Foundation Danville, VT | $27,882 | $0 |