Linda Pace Foundation
- Assets
- $85.4m
- Revenue
- $4.9m
- Investments
- $65.7m
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 09/2004
- Data as of
- 12/2021
- EIN
- 04-3757853
Organization Overview
Linda Pace Foundation is located in San Antonio, TX. The organization was established in 2004. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Linda Pace Foundation 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 12/2021, Linda Pace Foundation generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 35.9% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS SUPPORT THE OPERATION OF ARTPACE INC AND CHRISPARK LLC, AS WELL AS THE PUBLIC EXHIBITION OF THE CONTEMPORARY ART COLLECTION OF ITS FOUNDER, LINDA PACE, AND THE PUBLIC EXHIBITION OF THE WORK OF CONTEMPORARY ARTISTS. THE FOUNDATION SUPPORTED TWO OTHER ORGANIZATIONS DESCRIBED IN SECTION 170(C) OF THE INTERNAL REVENUE CODE. ARTPACE INC PROVIDES A CENTER FOR RESIDENCY AND EXCHANGE FOR ARTISTS. CHRISTPARK LLC IS A FREE PUBLIC PARK FOR THE CITIZENS OF SAN ANTONIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Morgan Acctg/admin | 40 | $102,486 | |
Kelly O' Connor Collections | 40 | $86,273 | |
Kathryn Kanjo President | 4 | $38,000 | |
Laura Wright Secretary | 1 | $28,000 | |
Christopher Mcknight Facilities | 40 | $74,113 | |
Randy Guthmiller Visitor Experiences | 40 | $57,653 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $38,800 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,405,951 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,459,562 |
| Capital Gain Net Income | $3,459,562 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,551 |
| Total Revenue | $4,905,864 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $537,078 |
| Other employee salaries and wages | $178,319 |
| Pension plans, employee benefits | $113,265 |
| Interest | $0 |
| Taxes | $94,055 |
| Depreciation | $603,676 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $593,494 |
| Total operating and administrative expenses | $2,575,138 |
| Contributions, gifts, grants paid | $626,000 |
| Total expenses and disbursements | $3,201,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,339 |
| Savings and temporary cash investments | $369,225 |
| Net Accounts receivable | $17 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $11,917 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,934,380 |
| Net Land, buildings, and equipment | $19,332,615 |
| Other assets | $0 |
| Total assets | $85,448,768 |
| Accounts payable and accrued expenses | $27,825 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,825 |
Grants Awarded
Over the last fiscal year, Linda Pace Foundation has awarded $1,622,560 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARTPACE INC PURPOSE: GENERAL OPERATING | $1,596,060 |
VARIOUS ARTISTS & ORGANIZATIONS PURPOSE: TO SUPPORT ARTISTS AND ORGANIZATIONS THAT EXHIBIT ARTWORK TO THE PUBLIC | $26,500 |