Museum Of Latin America Art
- Assets
- $41.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 52
- Location
- Long Beach, CA
- Founding
- 02/1999
- Data as of
- 12/2021
- EIN
- 33-0786070
Organization Overview
Museum Of Latin America Art is located in Long Beach, CA. The organization was established in 1999. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Museum Of Latin America Art employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Latin America Art 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, Museum Of Latin America Art generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $4.3m during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM OF LATIN AMERICAN ARTS EXPANDS KNOWLEDGE AND APPRECIATION OF MODERN AND CONTEMPORARY LATIN AMERICAN AND LATINO ART THROUGH ITS COLLECTION, GROUND-BREAKING EXHIBITIONS, STIMULATING EDUCATIONAL PROGRAMS, AND ENGAGING CULTURAL EVENTS.
Describe the Organization's Program Activity:
THE MUSEUM COLLECTED AND DISPLAYED ART FROM ARTISTS WHO LIVED OR WORKED IN LATIN AMERICA. THE MUSEUM OFFERED ART CLASSES, PROVIDED TOURS OF THE MUSEUM, SPONSORED GROUP TOURS TO OTHER LOCAL MUSEUMS AND PRESENTED LECTURES ON ART EXHIBITIONS. THE MUSEUM WAS OPEN PARTLY THROUGHOUT THE YEAR TO THE PUBLIC DUE TO COVID-19. ACCORDINGLY, THE MUSEUM HAD ONLY 11,924 VISITORS IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lourdes Ramos-Rivas President/ceo | Officer | 40 | $300,000 |
Cedric Woolfork VP Of Finance & Operation | Officer | 40 | $130,000 |
Gabriela Urtiaga Chief Curator | 40 | $130,000 | |
Todd Heustess VP Of Development | 40 | $120,000 | |
Robert Braun MD Co-Chair | OfficerTrustee | 5 | $0 |
Mike Deovlet Co-Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $68,426 |
| Fundraising events | $264,235 |
| Related organizations | $0 |
| Government grants | $286,364 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,754,844 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,373,869 |
| Total Program Service Revenue | $69,794 |
| Investment income | $298,801 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $304,664 |
| Net Gain/Loss on Asset Sales | $10,493 |
| Net Income from Fundraising Events | -$79,538 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $58,025 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,043,574 |
| 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. | $464,050 |
| Compensation of current officers, directors, key employees. | $140,716 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,384,043 |
| Pension plan accruals and contributions | $15,856 |
| Other employee benefits | $93,533 |
| Payroll taxes | $140,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,453 |
| Fees for services: Accounting | $19,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,770 |
| Fees for services: Other | $294,258 |
| Advertising and promotion | $41,625 |
| Office expenses | $186,246 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $486,668 |
| Travel | $25,827 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,437 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $457,516 |
| Insurance | $8,497 |
| All other expenses | $68,250 |
| Total functional expenses | $4,309,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $875,336 |
| Savings and temporary cash investments | $366,950 |
| Pledges and grants receivable | $461,728 |
| Accounts receivable, net | $12,424 |
| 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 | $152,316 |
| Net Land, buildings, and equipment | $23,848,253 |
| Investments—publicly traded securities | $15,217,020 |
| Investments—other securities | $0 |
| Investments—program-related | $612,500 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,546,527 |
| Accounts payable and accrued expenses | $118,242 |
| 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 | $125,000 |
| Unsecured mortgages and notes payable | $98,660 |
| Other liabilities | $0 |
| Total liabilities | $341,902 |
| Net assets without donor restrictions | $13,254,771 |
| Net assets with donor restrictions | $27,949,854 |
| 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 | $41,546,527 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Museum Of Latin America Art has recieved totaling $632,339.
| Awarding Organization | Amount |
|---|---|
Robert Gumbiner Foundation Long Beach, CA PURPOSE: PROMOTION OF VISUAL ARTS & CULTURE | $475,000 |
Earl B & Loraine H Miller Fdn Long Beach, CA PURPOSE: APRENDE (LEARN): MOLAAS ARTS EDUCATION PROGRAM | $40,000 |
Altamed Health Services Corp Los Angeles, CA PURPOSE: REDUCE HEALTH DISPARITY IN UNDERSERVED COMMUNITIES. | $35,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Earl B & Loraine H Miller Fdn Long Beach, CA PURPOSE: JUDITH F. BACA MEMORIAS DE NUESTRA TIERRA COMMUNITY EDUCATION PROGRAM SERIES | $25,000 |
California Humanities Oakland, CA PURPOSE: CORE PROGRAMS | $20,000 |
Endowment Analysis
| Beg. Balance | $27,003,276 |
| Earnings | $1,953,840 |
| Other Expense | $1,572,000 |
| Ending Balance | $27,385,116 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uss Midway Museum San Diego, CA | $89,557,357 | $9,957,373 |
Lucas Museum Of Narrative Art Los Angeles, CA | $1,047,180,873 | $200,315,657 |
Musical Instrument Museum Phoenix, AZ | $166,967,307 | $47,583,205 |
Operation Underground Railroad Inc Anaheim, CA | $68,076,312 | $47,549,013 |
Discovery Science Center Of Orange County Santa Ana, CA | $60,809,996 | $26,194,294 |
Grammy Museum Foundation Inc Los Angeles, CA | $19,726,049 | $9,757,476 |
Japanese American National Museum Los Angeles, CA | $64,155,556 | $8,326,332 |
Mingei International Inc San Diego, CA | $66,923,986 | $7,226,145 |
Heard Museum Phoenix, AZ | $36,442,009 | $14,120,125 |
Turtle Bay Exploration Park Redding, CA | $48,250,618 | $8,223,185 |
Palm Springs Art Museum Palm Springs, CA | $40,212,131 | $11,070,079 |
Safari Game Search Foundation Winston, OR | $11,893,690 | $8,001,628 |