The Broad
- Assets
- $573.6m
- Revenue
- $36.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 05/2011
- Data as of
- 12/2020
- 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 12/2020, Broad generated $36.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $22.0m during the year ending 12/2020. While expenses have increased by 4.1% per year over the past 6 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
2020
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 3.84 MILLION VISITORS THROUGH 2021. 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 Founding Director | 30 | $450,000 | |
Stacy Lieberman Deputy Director | 40 | $323,692 | |
Edward Patuto Director Of Audience | 40 | $182,098 | |
Richard Mitchell Director Of Faciliti | 40 | $157,700 | |
Heidi Quicksilver Director Of Technolo | 40 | $151,125 | |
William R Hudson IV Director Of Retail O | 40 | $135,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Family Office Financial Services | 12/30/21 | $1,161,948 |
California Protection & Investigation Svcs | 12/30/21 | $1,145,267 |
Abm Onsite Services | 12/30/21 | $343,491 |
Tixtrack Inc | 12/30/21 | $125,000 |
Spencer Stuart Inc | 12/30/21 | $110,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $35,235,366 |
| Interest on Savings | $70,383 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $20,717 |
| Profit on Inventory Sales | $470,724 |
| Other Income | $537,288 |
| Total Revenue | $36,313,761 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $450,000 |
| Other employee salaries and wages | $4,498,409 |
| Pension plans, employee benefits | $1,154,235 |
| Interest | $4,961,387 |
| Taxes | $13,809 |
| Depreciation | $4,311,732 |
| Occupancy | $675,208 |
| Travel, conferences, and meetings | $48,345 |
| Printing and publications | $44,222 |
| Other expenses | $2,626,538 |
| Total operating and administrative expenses | $22,033,642 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $22,033,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,608 |
| Savings and temporary cash investments | $21,306,136 |
| Net Accounts receivable | $221,153 |
| Net Pledges Receivable | $391,405,671 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $2,118,378 |
| Prepaid expenses and deferred charges | $138,776 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $156,137,364 |
| Other assets | $2,157,581 |
| Total assets | $573,557,667 |
| Accounts payable and accrued expenses | $1,249,866 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $151,080,781 |
| Other liabilities | $625,000 |
| Total liabilities | $152,955,647 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Broad has recieved totaling $8,917,065.
| Awarding Organization | Amount |
|---|---|
Broad Foundation Los Angeles, CA PURPOSE: ARTS - GENERAL SUPPORT PLEDGE | $8,917,065 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asian Art Museum Foundation Of San Francisco San Francisco, CA | $256,031,716 | $41,593,816 |
Armand Hammer Museum Of Art And Cultural Center Inc Los Angeles, CA | $286,371,378 | $27,039,549 |
Portland Art Museum Portland, OR | $150,113,696 | $27,542,215 |
The Broad Los Angeles, CA | $573,557,667 | $36,313,761 |
Museum Of Contemporary Art Los Angeles, CA | $173,324,238 | $20,204,928 |
San Diego Museum Of Art San Diego, CA | $78,902,831 | $13,995,818 |
Honolulu Museum Of Art Honolulu, HI | $136,524,458 | $12,640,830 |
Phoenix Art Museum Phoenix, AZ | $7,242,004 | $9,400,156 |
Crocker Art Museum Association Sacramento, CA | $31,464,464 | $12,237,025 |
Nevada Museum Of Art Inc Reno, NV | $65,871,084 | $23,939,678 |
Santa Barbara Museum Of Art Santa Barbara, CA | $142,171,274 | $22,074,169 |
Museum Of Contemporary Art San Diego San Diego, CA | $162,622,820 | $13,720,273 |