Walker Art Center Inc
- Assets
- $379.2m
- Revenue
- $50.4m
- Investments
- $291.5m
- Employees
- 182
- Location
- Minneapolis, MN
- Founding
- 09/1946
- Data as of
- 06/2021
- EIN
- 41-0693929
Organization Overview
Walker Art Center Inc is located in Minneapolis, MN. The organization was established in 1946. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Walker Art Center Inc employed 182 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walker Art Center 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 06/2021, Walker Art Center Inc generated $50.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $23.3m during the year ending 06/2021. 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 WALKER ART CENTER EMPOWERS PEOPLE TO EXPERIENCE THE TRANSFORMATIVE POSSIBILITIES OF THE ART AND IDEAS OF OUR TIME AND TO IMAGINE THE WORLD IN NEW WAYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WALKER ART CENTER PROVIDES EXHIBITIONS OF PAINTINGS, SCULPTURE, PRINTS, PHOTOGRAPHY AND DIGITAL MEDIA WITH AN EMPHASIS ON CONTEMPORARY ART, MOVING IMAGE PROGRAM INCLUDING FILM SCREENINGS, EDUCATION PROGRAMS AND TOURS FOR ADULTS, TEENS, CHILDREN, SCHOOL AND FAMILY PROGRAMS. PERFORMING ARTS INCLUDES PRESENTATION OF VARIOUS PERFORMANCES INCLUDING DANCE, MUSIC, AND THEATRE.
THE WALKER ART CENTER CONTINUALLY ADDS WORKS OF ART TO THE PERMANENT COLLECTION FOR PUBLIC VIEWING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Ceruti Executive Director | Officer | 35 | $508,081 |
Christopher Stevens Chief Of Advancement | Officer | 35 | $236,914 |
Mary Polta Chief Financial Officer | Officer | 35 | $223,587 |
Henriette Huldisch Chief Curator | Officer | 35 | $201,733 |
Philip Bither Sr Curator, Pa | 35 | $183,975 | |
Richele Donat Director Of Hr (end 10-01-2021) | 35 | $172,556 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Common Sense Building Service Inc Contractor Labor | 6/29/22 | $641,202 |
Access Art Storage/rent | 6/29/22 | $150,542 |
Faegre Drinker Biddle & Reath Llp Legal Service | 6/29/22 | $293,304 |
Minnesota Cleaning Services Cleaning Services | 6/29/22 | $224,850 |
Umf Investment Advisors Investment Advisors | 6/29/22 | $1,002,419 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,886,452 |
| Investment income | $1,376,521 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,855 |
| Net Rental Income | $52,974 |
| Net Gain/Loss on Asset Sales | $36,872,171 |
| Net Income from Fundraising Events | $30,434 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$121,702 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,426,261 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $100,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,123,463 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,309,323 |
| Pension plan accruals and contributions | $219,543 |
| Other employee benefits | $459,056 |
| Payroll taxes | $391,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $284,427 |
| Fees for services: Accounting | $62,544 |
| Fees for services: Lobbying | $35,189 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,131,149 |
| Fees for services: Other | $2,015,921 |
| Advertising and promotion | $554,499 |
| Office expenses | $813,521 |
| Information technology | $308,635 |
| Royalties | $0 |
| Occupancy | $491,414 |
| Travel | $54,615 |
| 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 | $3,506,621 |
| Insurance | $285,706 |
| All other expenses | $0 |
| Total functional expenses | $23,288,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $830,633 |
| Savings and temporary cash investments | $15,303,402 |
| Pledges and grants receivable | $3,494,641 |
| Accounts receivable, net | $62,702 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $299,884 |
| Prepaid expenses and deferred charges | $301,712 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $291,465,728 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $379,213,744 |
| Accounts payable and accrued expenses | $2,698,374 |
| Grants payable | $0 |
| Deferred revenue | $471,605 |
| 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 | $3,333,096 |
| Total liabilities | $6,503,075 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $372,710,669 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Walker Art Center Inc has recieved totaling $385,500.
| Awarding Organization | Amount |
|---|---|
Bentson Foundation Wayzata, MN PURPOSE: GENERAL | $365,500 |
Rose Francis Foundation Minneapolis, MN PURPOSE: GENERAL OPERATING | $10,000 |
Art Of Youth Foundation Wilmington, DE PURPOSE: CHARITABLE EVENT | $10,000 |
Endowment Analysis
| Beg. Balance | $302,897,360 |
| Earnings | -$16,840,551 |
| Net Contributions | $5,396,818 |
| Other Expense | $7,690,269 |
| Ending Balance | $283,763,358 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walker Art Center Inc Minneapolis, MN | $379,213,744 | $50,426,261 |
John Michael Kohler Arts Center Inc Sheboygan, WI | $91,886,755 | $7,533,321 |
Washington Pavilion Management Inc Sioux Falls, SD | $7,664,278 | $8,315,223 |
Kohler Trust For The Arts And Education Kohler, WI | $9,068,772 | $5,585,156 |
Success Institute Minneapolis, MN | $1,766,984 | $4,353,040 |
Brucemore Inc Cedar Rapids, IA | $18,035,244 | $1,902,736 |
Milwaukee County War Memorial Inc Milwaukee, WI | $14,315,972 | $2,406,675 |
Figge Art Museum Davenport, IA | $8,061,931 | $3,020,890 |
Zeitgeist Center For Arts And Community Duluth, MN | $16,526,029 | $2,402,669 |
Seward Redesign Inc Minneapolis, MN | $17,574,323 | $2,638,078 |
Bloomington Theatre And Art Center Dba Artistry Bloomington, MN | $570,526 | $1,529,131 |
Phipps Center For The Arts Inc Hudson, WI | $10,511,884 | $2,040,286 |