Cincinnati Museum Association
- Assets
- $281.2m
- Revenue
- $24.0m
- Investments
- $0.0
- Employees
- 290
- Location
- Cincinnati, OH
- Founding
- 01/1934
- Data as of
- 08/2021
- EIN
- 31-0536653
Organization Overview
Cincinnati Museum Association is located in Cincinnati, OH. The organization was established in 1934. 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 08/2022, Cincinnati Museum Association employed 290 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cincinnati Museum Association 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 08/2021, Cincinnati Museum Association generated $24.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $16.3m during the year ending 08/2021. While expenses have increased by 1.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH THE POWER OF ART, WE CONTRIBUTE TO A MORE VIBRANT CINCINNATI BY INSPIRING ITS PEOPLE AND CONNECTING OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN AND OPERATE AN ART MUSEUM FOR THE GENERAL PUBLIC INVOLVING PERMANENT EXHIBITS, SPECIAL EXHIBITS AND ONGOING EDUCATIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lewis Cameron Kitchin Director | Officer | 35 | $429,718 |
Dave Linnenberg Chief Administrative Officer | Officer | 35 | $193,974 |
Carol Edmondson Chief Financial Officer | Officer | 35 | $127,213 |
Ted Forrest Human Resources Director | 35 | $112,183 | |
Kirby Neumann Director Of Philanthropy | 35 | $108,868 | |
Amy Hanson Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Siemens Industry Inc Boiler/ahu Service Agreement/repairs | 8/30/22 | $519,706 |
Turner Contruction Company Construction Project Contractor | 8/30/22 | $6,287,757 |
Debra-kuempel Hvac Services | 8/30/22 | $475,071 |
Alzar Studio Llc Furnishing | 8/30/22 | $354,096 |
Casewerks Llc Museum Displays And Furnishings | 8/30/22 | $319,505 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $445,208 |
| Fundraising events | $34,779 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,019,954 |
| Noncash contributions included in lines 1a–1f | $1,177,813 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,499,941 |
| Total Program Service Revenue | $556,700 |
| Investment income | $5,022,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $112,205 |
| Net Gain/Loss on Asset Sales | $29,302 |
| Net Income from Fundraising Events | -$8,670 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $678,861 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,034,593 |
| 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. | $868,860 |
| Compensation of current officers, directors, key employees. | $129,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,826,855 |
| Pension plan accruals and contributions | $94,090 |
| Other employee benefits | $874,828 |
| Payroll taxes | $471,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $12,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,333,121 |
| Advertising and promotion | $343,769 |
| Office expenses | $199,762 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $929,108 |
| Travel | $31,827 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $130,495 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,704,181 |
| Insurance | $0 |
| All other expenses | $565,116 |
| Total functional expenses | $16,285,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,318,178 |
| Savings and temporary cash investments | $1,857,798 |
| Pledges and grants receivable | $13,638,018 |
| Accounts receivable, net | $129,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $249,249 |
| Prepaid expenses and deferred charges | $346,349 |
| Net Land, buildings, and equipment | $35,221,277 |
| Investments—publicly traded securities | $200,744,302 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,651,103 |
| Total assets | $281,155,323 |
| Accounts payable and accrued expenses | $4,010,334 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,537,253 |
| Other liabilities | $3,716,570 |
| Total liabilities | $12,264,157 |
| Net assets without donor restrictions | $79,949,718 |
| Net assets with donor restrictions | $188,941,448 |
| 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 | $281,155,323 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cincinnati Museum Association has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Thomas R Schiff Foundation Cincinnati, OH PURPOSE: A BIENNIAL PROJECT GRANT | $25,000 |
Endowment Analysis
| Beg. Balance | $207,392,998 |
| Earnings | -$26,683,221 |
| Net Contributions | $192,228 |
| Other Expense | $6,034,156 |
| Ending Balance | $174,867,849 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Detroit Institute Of Arts Detroit, MI | $547,056,318 | $58,386,978 |
Indianapolis Museum Of Art Inc Indianapolis, IN | $570,410,766 | $52,226,027 |
Barnes Foundation Philadelphia, PA | $223,515,679 | $21,249,120 |
Toledo Museum Of Art Toledo, OH | $363,312,718 | $18,709,059 |
Cincinnati Museum Association Cincinnati, OH | $281,155,323 | $24,034,593 |
Columbus Museum Of Art Columbus, OH | $186,443,242 | $10,937,046 |
J B Speed Art Museum Louisville, KY | $144,061,757 | $14,473,949 |
John Huntington Art & Polytechnic Tr Cleveland, OH | $134,688,641 | $10,635,199 |
Dayton Art Institute Dayton, OH | $42,942,635 | $5,850,007 |
Grand Rapids Art Museum Grand Rapids, MI | $63,932,796 | $12,119,660 |
Frick Art & Historical Center Inc Pittsburgh, PA | $114,709,586 | $11,420,206 |
Taft Museum Of Art Cincinnati, OH | $54,566,768 | $7,451,068 |