Allbritton Art Institute
- Assets
- $10.0m
- Revenue
- $42.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Houston, TX
- Founding
- 12/1997
- Data as of
- 05/2023
- EIN
- 31-1573901
Organization Overview
Allbritton Art Institute is located in Houston, TX. The organization was established in 1997. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 05/2023, Allbritton Art Institute employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allbritton Art Institute 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 05/2023, Allbritton Art Institute generated $42.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (54.7%) each year. All expenses for the organization totaled $357.6k during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE APPRECIATION AND STUDY OF ARTISTS AND ART MOVEMENTS FOR STUDENTS OF AAI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ALLBRITTON ART INSTITUTE IS CONDUCTED IN CONJUNCTION AND AFFILIATION WITH THE DEPARTMENT OF ART AT BAYLOR UNIVERSITY. THE PROGRAM FOCUSES ON THE STUDY OF 19TH AND 20TH CENTURY ART HISTORY.IT PROVIDES APPROXIMATELY 4-6 COURSES A SEMESTER FOR UNDERGRADUATE STUDENTS AND IS PART OF THE PREPARATION FOR FURTHER STUDY AT THE GRADUATE LEVEL. THE INSTITUTE PROVIDES ELIGIBLE STUDENTS THE OPPORTUNITY TO PARTICIPATE IN INTERNATIONAL, NATIONAL AND REGIONAL FIELD TRIPS AND GUEST LECTURES IN ART HISTORY. THE INSTITUTE ALSO AWARDS ONE TO TWO SCHOLARSHIPS A YEAR. IN 2021, THE INSTITUTE WAS LOCATED AT BAYLOR UNIVERSITY. IN 2022-23, THE INSTITUTE WAS IN A TRANSITION PERIOD AS THEY WERE RELOCATING TO A NEW HOST UNIVERSITY. (CONTINUED IN SCH O)IN 2024, THE INSTITUTE PARTNERED WITH UNIVERSITY OF ST. THOMAS (UST) AND MOVED TO THE UST CAMPUS IN HOUSTON'S RENOWNED MUSEUM DISTRICT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara B Allbritton President | OfficerTrustee | 1 | $0 |
Robert L Allbritton Vice President | OfficerTrustee | 1 | $0 |
Charles W Hall Vice President | OfficerTrustee | 1 | $0 |
Jeanne Lawver Administrator/secretary | Officer | 5 | $35,000 |
Janet Hall Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $254,597 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$212,549 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,190 |
| 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. | $35,000 |
| Compensation of current officers, directors, key employees. | $35,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,251 |
| Pension plan accruals and contributions | $5,338 |
| Other employee benefits | $4,606 |
| Payroll taxes | $9,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $156,668 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,976 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,942 |
| Insurance | $8,999 |
| All other expenses | $3,327 |
| Total functional expenses | $357,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,267 |
| Savings and temporary cash investments | $495,375 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $727 |
| Net Land, buildings, and equipment | $48,146 |
| Investments—publicly traded securities | $9,386,080 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,462 |
| Total assets | $10,000,057 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $10,000,057 |
| Net assets with donor restrictions | $0 |
| 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 | $10,000,057 |