Milwaukee Art Museum Inc
- Assets
- $162.0m
- Revenue
- $17.7m
- Investments
- $24.3m
- Employees
- 286
- Location
- Milwaukee, WI
- Founding
- 05/1937
- Data as of
- 08/2021
- EIN
- 39-0806316
Organization Overview
Milwaukee Art Museum Inc is located in Milwaukee, WI. The organization was established in 1937. 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 08/2021, Milwaukee Art Museum Inc employed 286 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milwaukee Art Museum Inc 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, Milwaukee Art Museum Inc generated $17.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $16.5m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 6 years. 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 MILWAUKEE ART MUSEUM COLLECTS AND PRESERVES ART, PRESENTING IT TO THE COMMUNITY AS A VITAL SOURCE OF INSPIRATION AND EDUCATION.
Describe the Organization's Program Activity:
PRESENTATION AND CURATORIAL: SPECIAL EXHIBITS DURING FISCAL YEAR 2021 INCLUDED AMERICANS IN SPAIN: PAINTING AND TRAVEL, 1820-1920; SUSAN MEISELAS: THROUGH A WOMAN'S LENS; BYRDCLIFFE: CREATIVITY AND CREATION; THE QUILTS OF PAULINE PARKER; FIRST IMPRESSION: EARLY PRINTED BOOKS IN EUROPE; AND THE ANNUAL SCHOLASTIC ART AWARDS: WISCONSIN EXHIBITION.
AUDIENCE, COMMUNICATION, AND MEMBER DEVELOPMENT: ADMISSIONS AND TOURS FOR FISCAL YEAR 2021 TOTALED 91,559 . 170 VOLUNTEERS ASSISTED IN ACTIVITIES.
EDUCATION: WE SERVED A TOTAL OF 76,313 PEOPLE IN EDUCATION PROGRAMS IN FISCAL YEAR 2021. WE MAKE THE MUSEUM A GATHERING PLACE FOR ALL AGES TO EXPERIENCE THE ARTS. ADULT EDUCATION PROGRAMS ENHANCE GALLERY INTERPRETATION STRATEGIES, EXPAND EDUCATIONAL PROGRAMS IN THE GALLERIES TO ANIMATE THE ART AND ENCOURAGE DEEPER CONNECTIONS BETWEEN VISITORS AND THE ART. PROGRAMS INCLUDE MAM AFTER DARK, GALLERY TALKS, LECTURES, SYMPOSIA. SCHOOL EDUCATION PROGRAMS ALIGN OUR PROGRAMS WITH FEDERAL, STATE, AND LOCAL EDUCATION AGENDAS TO SERVE SCHOOL CHILDREN THROUGH SCHOOL TOUR PROGRAMS FROM 55 SCHOOLS. OTHER PROGRAMS SERVED 594 SCHOOLS INCLUDING THE JR. DOCENT PROGRAM, SCHOLASTIC ART AWARDS, COLOR WHEELS, OUR HIGH SCHOOL AND TEEN PROGRAMS, ALONG WITH TEACHER WORKSHOPS AND PASSES. YOUTH PROGRAMS ENGAGE YOUNG CHILDREN EARLY AND OFTEN BY PROVIDING BETTER ON-SITE PROVISIONS, PROGRAMS, AND INFRASTRUCTURE FOR FAMILIES.
BUSINESS OPERATIONS AND ACQUISITION OF ART: EXPENSES INCURRED IN OPERATION OF THE MUSEUM'S CAFE AND GIFT SHOP AS WELL AS EXPENDITURES ASSOCIATED WITH ACQUIRING NEW PIECES FOR THE PERMANENT COLLECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcelle Polednik Baumgartner Director | Officer | 50 | $423,741 |
Caroline Ashley Chief Development Officer | Officer | 50 | $214,095 |
Alissa Karl Chief Financial Officer | Officer | 40 | $141,924 |
Daniel Somers Director Of Facilities | 20 | $119,211 | |
Brigid Globensky Barbara Brown Lee Sr. Dire | 50 | $114,428 | |
David Russick Chief Designer | 40 | $107,080 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Structure Werks Inc Concrete & Structural Service | 8/30/21 | $218,078 |
Eagle Enterprises Ltd Custodial Services | 8/30/21 | $183,314 |
Otis Elevator Company Elevator Service | 8/30/21 | $104,314 |
Thomas A Mason Co Inc Painting And Concrete Service | 8/30/21 | $119,805 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,343,428 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,946,644 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,170,606 |
| Noncash contributions included in lines 1a–1f | $444,224 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,460,678 |
| Total Program Service Revenue | $943,816 |
| Investment income | $789,327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$261,745 |
| Net Gain/Loss on Asset Sales | $2,262,061 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $440,183 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,721,477 |
| 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. | $856,398 |
| Compensation of current officers, directors, key employees. | $856,398 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,989,047 |
| Pension plan accruals and contributions | $125,128 |
| Other employee benefits | $952,846 |
| Payroll taxes | $400,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $108,012 |
| Fees for services: Accounting | $30,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $99,112 |
| Fees for services: Investment Management | $157,422 |
| Fees for services: Other | $203,107 |
| Advertising and promotion | $449,760 |
| Office expenses | $225,700 |
| Information technology | $237,653 |
| Royalties | $0 |
| Occupancy | $1,510,079 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,142 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,426,560 |
| Insurance | $263,526 |
| All other expenses | $354,452 |
| Total functional expenses | $16,488,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,610,067 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,497,634 |
| Accounts receivable, net | $1,924,978 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $251,506 |
| Prepaid expenses and deferred charges | $444,569 |
| Net Land, buildings, and equipment | $78,585,416 |
| Investments—publicly traded securities | $45,592,099 |
| Investments—other securities | $24,294,903 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $806,423 |
| Total assets | $162,007,595 |
| Accounts payable and accrued expenses | $2,044,953 |
| Grants payable | $0 |
| Deferred revenue | $1,335,131 |
| 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 | $22,432 |
| Other liabilities | $94,646 |
| Total liabilities | $3,497,162 |
| Net assets without donor restrictions | $94,072,051 |
| Net assets with donor restrictions | $64,438,382 |
| 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 | $162,007,595 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Milwaukee Art Museum Inc has recieved totaling $66,200.
| Awarding Organization | Amount |
|---|---|
Dudley And Constance Godfrey Foundation Inc Milwaukee, WI PURPOSE: CULTURAL | $57,000 |
The Marcia And Kent Velde Foundation Milwaukee, WI PURPOSE: CHARITABLE | $5,000 |
Gardner Foundation Milwaukee, WI PURPOSE: OPERATING EXPENSES | $4,000 |
Clarence And Pearl Becker Charitable Foundation Milwaukee, WI PURPOSE: GENERAL | $200 |
Endowment Analysis
| Beg. Balance | $52,866,579 |
| Earnings | $11,236,208 |
| Net Contributions | $368,441 |
| Other Expense | $2,167,112 |
| Ending Balance | $62,304,116 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minneapolis Society Of Fine Arts Minneapolis, MN | $389,108,974 | $52,759,804 |
The Detroit Institute Of Arts Detroit, MI | $547,056,318 | $58,386,978 |
Museum Of Contemporary Art Chicago, IL | $199,455,132 | $15,185,579 |
Milwaukee Art Museum Inc Milwaukee, WI | $162,007,595 | $17,721,477 |
Grand Rapids Art Museum Grand Rapids, MI | $63,932,796 | $12,119,660 |
Edmundson Art Foundation Inc Des Moines, IA | $123,873,821 | $5,221,950 |
Jayne Wrightsman Irr Trust Xxxxx7008 Chicago, IL | $23,809,573 | $29,559,094 |
Kalamazoo Institute Of Arts Kalamazoo, MI | $37,022,410 | $4,067,933 |
Madison Museum Of Contemporary Art Inc Madison, WI | $15,382,994 | $2,302,239 |
Minnesota Museum Of American Art Saint Paul, MN | $9,032,036 | $1,499,963 |
Paine Art Center & Gardens Inc Oshkosh, WI | $23,894,891 | $2,871,435 |
Templearts Saginaw, MI | $24,720,912 | $2,521,932 |