Woodmere Art Museum Inc
- Assets
- $17.8m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 35
- Location
- Philadelphia, PA
- Founding
- 09/1940
- Data as of
- 12/2020
- EIN
- 23-1381459
Organization Overview
Woodmere Art Museum Inc is located in Philadelphia, PA. The organization was established in 1940. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2020, Woodmere Art Museum Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodmere Art Museum 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 12/2020, Woodmere Art Museum Inc generated $3.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $3.0m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
PRESERVATION OF HISTORICAL MANSION WHICH HOUSES MUSEUM'S WORKS OF ART
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Valerio Executive Director And CEO | OfficerTrustee | 60 | $205,327 |
James Alexandre President | OfficerTrustee | 5 | $0 |
Margaret Steele Secretary | OfficerTrustee | 3 | $0 |
Margaret Sadler Treasurer | OfficerTrustee | 3 | $0 |
Ralph S Hirshorn Assistant Treasurer | OfficerTrustee | 3 | $0 |
Russell Harris MD Vice President | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $52,970 |
| Fundraising events | $101,543 |
| Related organizations | $0 |
| Government grants | $32,467 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,705,082 |
| Noncash contributions included in lines 1a–1f | $86,263 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,892,062 |
| Total Program Service Revenue | $134,937 |
| Investment income | $85,248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $97,178 |
| Net Income from Fundraising Events | $18,209 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,184 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,237,366 |
| 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. | $222,574 |
| Compensation of current officers, directors, key employees. | $14,023 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,080,219 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $101,427 |
| Payroll taxes | $99,828 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,056 |
| Fees for services: Lobbying | $18,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,456 |
| Advertising and promotion | $19,846 |
| Office expenses | $39,457 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $167,037 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $226,136 |
| Insurance | $72,751 |
| All other expenses | $131,514 |
| Total functional expenses | $3,026,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $750 |
| Savings and temporary cash investments | $1,965,996 |
| Pledges and grants receivable | $287,831 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $252,072 |
| Inventories for sale or use | $28,513 |
| Prepaid expenses and deferred charges | $162,858 |
| Net Land, buildings, and equipment | $4,205,240 |
| Investments—publicly traded securities | $7,664,551 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,217,737 |
| Total assets | $17,785,548 |
| Accounts payable and accrued expenses | $53,473 |
| Grants payable | $0 |
| Deferred revenue | $26,906 |
| 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 | $666,354 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $473 |
| Total liabilities | $747,206 |
| Net assets without donor restrictions | $8,131,760 |
| Net assets with donor restrictions | $8,906,582 |
| 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 | $17,785,548 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Woodmere Art Museum Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Stearns Charitable Trust Boston, MA PURPOSE: PROGRAM SUPPORT | $10,000 |
Fred J Rosenau Foundation Jenkintown, PA PURPOSE: GENERAL/NO RESTRICTIONS | $5,500 |
Marjorie And Irwin Nat Pincus Fund Philadelphia, PA PURPOSE: GENERAL FUND | $2,500 |
Webster U Walker Jr Foundation Inc Philadelphia, PA PURPOSE: OPERATIONS | $1,000 |
Margaret Evans Tuten Foundation Villanova, PA PURPOSE: ANNUAL DRIVE | $1,000 |
Endowment Analysis
| Beg. Balance | $7,712,951 |
| Earnings | $692,680 |
| Net Contributions | $68,841 |
| Other Expense | $277,820 |
| Ending Balance | $8,196,652 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Toledo Museum Of Art Toledo, OH | $363,312,718 | $18,709,059 |
Baltimore Museum Of Art Inc Baltimore, MD | $169,284,027 | $31,272,929 |
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Cincinnati Museum Association Cincinnati, OH | $281,155,323 | $24,034,593 |
Columbus Museum Of Art Columbus, OH | $186,443,242 | $10,937,046 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |
Neue Galerie New York New York, NY | $114,494,920 | $18,242 |
International Center Of Photography New York, NY | $72,245,409 | $16,287,723 |
Doris Duke Foundation For Islamic Art New York, NY | $38,632,422 | $9,089,054 |
Storm King Art Center New Windsor, NY | $80,583,864 | $14,230,209 |
Fellowship For The Performing Arts Inc New York, NY | $15,555,732 | $10,766,818 |