The Broad
- Assets
- $544.7m
- Revenue
- $28.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 05/2011
- Data as of
- 12/2023
- EIN
- 27-3032164
Organization Overview
The Broad is located in Los Angeles, CA. The organization was established in 2011. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Broad 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 12/2023, Broad generated $28.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $33.4m during the year ending 12/2023. While expenses have increased by 3.2% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BROAD MUSEUM, WHICH HAS 50,000 SQUARE FEET OF PUBLIC EXHIBITION SPACE, 21,000 SQUARE FEET OF COLLECTION STORAGE SPACE, AND A 200-PERSON PUBLIC LECTURE HALL, IS HOME TO THE MORE THAN 2,000 WORKS OF CONTEMPORARY ART IN THE BROAD COLLECTIONS. SINCE IT OPENED IN SEPTEMBER 2015, THE BROAD HAS OFFERED FREE GENERAL ADMISSION, AND HAS ATTRACTED A DIVERSE AUDIENCE OF NEARLY 5.38 MILLION VISITORS THROUGH 2023. IN ADDITION, THE BROAD PRESENTS A RANGE OF PUBLIC PROGRAMS FAMILY WORKSHOPS, FILM, LECTURES, AND PERFORMANCES ABOUT THE COLLECTIONS AND PROMOTES THE CULTURAL AND CIVIC VITALITY OF LOS ANGELES BY PROVIDING A PUBLIC OUTDOOR PLAZA AND A CONVENIENT PARKING GARAGE TO FACILITATE GREATER ENGAGEMENT OF THE PUBLIC WITH DOWNTOWN LOS ANGELES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Heyler President, Director, Founding Director | 40 | $400,000 | |
Deborah Kanter Secretary, Legal Counsel | 5 | $259,600 | |
Alysa Gerlach Treasurer, COO | 40 | $375,188 | |
Kelly Beren Assistant Treasurer (part Year) | 5 | $102,812 | |
Robert H Tuttle Chairman, Director | 5 | $0 | |
Jay Wintrob Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
California Protection & Investigation Services | 12/30/23 | $3,102,479 |
Family Office Financial Services | 12/30/23 | $806,455 |
Abm Onsite Services | 12/30/23 | $739,322 |
Matt Construction | 12/30/23 | $721,850 |
Allied Advertising Limited Partnership | 12/30/23 | $550,976 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,255,535 |
| Interest on Savings | $1,020,769 |
| Dividends & Interest | $0 |
| Net Rental Income | $233,848 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $2,406,494 |
| Other Income | $19,572,236 |
| Total Revenue | $28,868,352 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $775,188 |
| Other employee salaries and wages | $6,927,236 |
| Pension plans, employee benefits | $1,025,455 |
| Interest | $1,181,023 |
| Taxes | $29,838 |
| Depreciation | $4,613,952 |
| Occupancy | $822,316 |
| Travel, conferences, and meetings | $502,946 |
| Printing and publications | $42,735 |
| Other expenses | $10,745,238 |
| Total operating and administrative expenses | $33,379,849 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $33,379,849 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,372 |
| Savings and temporary cash investments | $29,238,753 |
| Net Accounts receivable | $74,217 |
| Net Pledges Receivable | $357,650,122 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $1,245,453 |
| Prepaid expenses and deferred charges | $380,891 |
| Net Investments - land, buildings, equipment | $7,766,667 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $146,336,258 |
| Other assets | $1,866,088 |
| Total assets | $544,727,821 |
| Accounts payable and accrued expenses | $6,144,781 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $137,049,872 |
| Other liabilities | $468,925 |
| Total liabilities | $143,663,578 |