Frank Lloyd Wright Trust
- Assets
- $6.8m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 46
- Location
- Chicago, IL
- Founding
- 11/1974
- Data as of
- 12/2021
- EIN
- 23-7414937
Organization Overview
Frank Lloyd Wright Trust is located in Chicago, IL. The organization was established in 1974. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Frank Lloyd Wright Trust employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frank Lloyd Wright Trust 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, Frank Lloyd Wright Trust generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE THE PUBLIC IN EDUCATIONAL AND AESTHETIC EXPERIENCES TO FOSTER AN APPRECIATION OF ARCHITECTURE, DESIGN AND THE LEGACY OF FRANK LLOYD WRIGHT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAMS,OPERATION, PRESERVATION, AND RESTORATION OF THE FRANK LLOYD WRIGHT HOME AND STUDIO IN OAK PARK, ILLINOIS AND FREDERICK C. ROBIE HOUSE IN CHICAGO. DURING THE YEAR, THE ORGANIZATION HAD 34,713 VISITORS TO THE HOME AND STUDIO AND 16,363 VISITORS TO THE FREDERICK C. ROBIE HOUSE IN CHICAGO. THE ORGANIZATION'S CENTRAL ADMINISTRATION, COMMUNICATION AND DEVELOPMENT OFFICES ARE LOCATED AT THE HISTORIC ROOKERY BUILDING IN DOWNTOWN CHICAGO. ITS OFFICES ARE ADJACENT TO THE BUILDING'S FRANK LLOYD WRIGHT DESIGNED LOBBY. THE ORGANIZATION OPERATES DAILY TOURS, SOCIAL AND FUNDRAISING EVENTS AT THIS LOCATION. TOTAL ATTENDANCE AT THE ROOKERY WAS 1,756 DURING THE YEAR. THE ORGANIZATION ALSO HAD TOURS OF THE EMIL BACH HOUSE IN CHICAGO, WITH ATTENDANCE OF 350. TOTAL ATTENDANCE FOR ALL LOCATIONS WAS 53,182.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Celeste Adams President And CEO | Officer | 40 | $166,112 |
John M Rafkin Chairman | OfficerTrustee | 4 | $0 |
Kurt Neumann Treasurer | OfficerTrustee | 4 | $0 |
Graham Rarity Secretary | OfficerTrustee | 4 | $0 |
Patricia Hunt Vice - Chairman | OfficerTrustee | 4 | $0 |
Peter R George Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $207,235 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $696,395 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $903,630 |
| Total Program Service Revenue | $1,361,264 |
| Investment income | $103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,848 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $105,081 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $437,998 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,823,161 |
| 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. | $166,112 |
| Compensation of current officers, directors, key employees. | $166,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,087,195 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $190,736 |
| Payroll taxes | $91,627 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,978 |
| Fees for services: Accounting | $84,239 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,751 |
| Advertising and promotion | $20,288 |
| Office expenses | $49,940 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $142,393 |
| Travel | $21,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,098 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $392,373 |
| Insurance | $60,427 |
| All other expenses | $137,387 |
| Total functional expenses | $2,882,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $649,026 |
| Savings and temporary cash investments | $500,824 |
| Pledges and grants receivable | $16,550 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $246,745 |
| Prepaid expenses and deferred charges | $42,736 |
| Net Land, buildings, and equipment | $5,307,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,763,209 |
| Accounts payable and accrued expenses | $189,522 |
| Grants payable | $0 |
| Deferred revenue | $615,129 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $936,446 |
| Other liabilities | $20,260 |
| Total liabilities | $1,761,357 |
| Net assets without donor restrictions | $4,923,736 |
| Net assets with donor restrictions | $78,116 |
| 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 | $6,763,209 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Frank Lloyd Wright Trust has recieved totaling $57,975.
| Awarding Organization | Amount |
|---|---|
Colonel Il James N Pritzker Charitable Distribution Fund Chicago, IL PURPOSE: GENERAL SUPPORT | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $14,550 |
Hickory Foundation Lambertville, NJ PURPOSE: CHARITABLE | $10,000 |
John R Halligan Charitable Fund Bannockburn, IL PURPOSE: UNRESTRICTED USE | $4,000 |
Leopardo Charitable Foundation Hoffman Estates, IL PURPOSE: GENERAL OPERATING SUPPORT | $2,500 |
Cme Group Foundation Chicago, IL PURPOSE: IN MEMORY OF REBECCA DOAR | $2,500 |
Endowment Analysis
| Beg. Balance | $37,298 |
| Ending Balance | $37,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Liberty Memorial Association Kansas City, MO | $35,751,544 | $14,461,883 |
Indiana Historical Society Indianapolis, IN | $152,627,726 | $15,739,974 |
Steel Founders Society Of America Crystal Lake, IL | $6,567,517 | $7,560,615 |
Historic Landmarks Foundation Of Indiana Inc Indianapolis, IN | $92,679,775 | $11,879,556 |
Colonel Il James N Pritzker Library For The Citizen Soldier Chicago, IL | $30,735,848 | $6,408,136 |
Hoyt Sherman Place Foundation Des Moines, IA | $25,209,028 | $4,318,549 |
American Opinion Foundation Inc Appleton, WI | $4,682,811 | $5,136,878 |
Frank Lloyd Wright Trust Chicago, IL | $6,763,209 | $2,823,161 |
Chicago Police Memorial Foundation Chicago, IL | $19,000,783 | $6,539,777 |
National Society Of The Sons Of The American Revolution Louisville, KY | $16,631,721 | $2,986,592 |
Otho S A Sprague Memorial Institute Chicago, IL | $50,228,527 | $3,261,875 |
Orpheum Theatre Preservation Project Ltd Sioux City, IA | $9,952,360 | $2,698,691 |