National Vietnam Veterans Art Museum
- Assets
- $109.0k
- Revenue
- $275.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 12/1982
- Data as of
- 12/2021
- EIN
- 36-3195879
Organization Overview
National Vietnam Veterans Art Museum is located in Chicago, IL. The organization was established in 1982. 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, National Vietnam Veterans Art Museum employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Vietnam Veterans Art Museum 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, National Vietnam Veterans Art Museum generated $275.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $314.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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
THE NATIONAL VETERANS ART MUSEUM FOSTERS GREATER UNDERSTANDING OF THE REAL IMPACT OF WAR. THE MUSEUM COLLECTS, PRESERVES & EXHIBITS ART INSPIRED BY COMBAT & CREATED BY VETERANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EXHIBIT ART CREATED BY WAR VETERANS. THE ARTWORK DISPLAYED PROVIDES A HISTORICAL TRIBUTE TO VETERANS AND TO CONDITIONS AND MEMORIES OF THAT TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brendan Foster Executive Dir. | Officer | 40 | $54,170 |
Jim Moore Vice Chairman | OfficerTrustee | 4 | $0 |
Lionel Rabb Chairman | OfficerTrustee | 4 | $0 |
Philip Maughan Treasurer | OfficerTrustee | 4 | $0 |
Nancy Ronquillo Secretary | OfficerTrustee | 4 | $0 |
Hughes Turner Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $370 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $43,537 |
| All other contributions, gifts, grants, and similar amounts not included above | $230,084 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $273,991 |
| Total Program Service Revenue | $1,049 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $12 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,052 |
| 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. | $54,170 |
| Compensation of current officers, directors, key employees. | $8,126 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,712 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,330 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,899 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $13,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,862 |
| Advertising and promotion | $442 |
| Office expenses | $24,074 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,592 |
| 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 | $25,279 |
| Insurance | $16,673 |
| All other expenses | $1,016 |
| Total functional expenses | $314,846 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,932 |
| Savings and temporary cash investments | $0 |
| 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 | $8,016 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $69,611 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,400 |
| Total assets | $108,959 |
| Accounts payable and accrued expenses | $56,414 |
| 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 | $80,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,000 |
| Total liabilities | $141,414 |
| Net assets without donor restrictions | -$32,455 |
| 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 | $108,959 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that National Vietnam Veterans Art Museum has recieved totaling $95,112.
| Awarding Organization | Amount |
|---|---|
Robert R Mccormick Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
Albert Pick Jr Fund Chicago, IL PURPOSE: CULTURAL INSTITUTIONS | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $112 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Historic Arnolds Park Inc Arnolds Park, IA | $45,905,371 | $12,228,274 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Margaret Woodbury Strong Museum Charitable Trust Chicago, IL | $73,980,694 | $7,829,381 |
Peoria Riverfront Museum Peoria, IL | $12,190,456 | $4,223,811 |
Unlimited Opportunities Inc Boonville, MO | $6,714,259 | $4,941,880 |
Muhammad Ali Museum And Education Louisville, KY | $31,131,591 | $4,563,188 |