Edmundson Art Foundation Inc
- Assets
- $165.7m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 136
- Location
- Des Moines, IA
- Founding
- 03/1949
- Data as of
- 12/2021
- EIN
- 42-0680419
Organization Overview
Edmundson Art Foundation Inc, operating under the name Des Moines Art Center, is located in Des Moines, IA. The organization was established in 1949. 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 12/2023, Des Moines Art Center employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Des Moines Art Center 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, Des Moines Art Center generated $14.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $7.0m during the year ending 12/2021. While expenses have increased by 1.8% 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
THROUGH ITS COLLECTIONS, EXHIBITIONS, AND EDUCATIONAL PROGRAMMING, THE DES MOINES ART CENTER PROVIDES OPPORTUNITIES FOR TRANSFORMATIONAL ART EXPERIENCES. SEE SCHEDULE O.
Describe the Organization's Program Activity:
THE ART CENTER'S EXHIBITIONS IN 2022 PROVIDED VISITORS NEW PERSPECTIVES ON ART AND CREATED SPACE FOR DIALOGUE. OPPORTUNITIES TO INTERACT WITH VISITING ARTISTS AND THE EXHIBITIONS ABOUNDED, VISITORS COULD SHARE MEMORIES THROUGH POSTCARDS AND ONLINE GALLERIES, ATTEND LECTURES AND PANELS WITH ARTISTS INVOLVED IN MAJOR EXHIBITIONS, AND TAKE PRINTS AND GALLERY GUIDES HOME TO REMEMBER THE IMPACT OF THEIR VISIT. SEE SCHEDULE O FOR CONTINUATION.
THE ART CENTER'S NEW AND ADAPTED PROGRAMS AND ACTIVITIES SUPPLIED A SENSE OF FUN IN EXHIBITIONS, PROVIDED SPACE FOR REFLECTION AND EXPLORATION, AND OFFERED NEW OPPORTUNITIES TO CONNECT WITH EACH OTHER. IN 2022, WE ENACTED THAT VISION THROUGH NEW PROGRAMS THAT UPLIFT DIVERSE VOICES. MORE THAN 269,000 VISITORS WERE WELCOMED TO THE MUSEUM AND PAPPAJOHN SCULPTURE PARK. SEE SCHEDULE O FOR CONTINUATION.
OUR EFFORTS INCLUDE OPERATING A PUBLIC ART SCHOOL, ENGAGING IN PARTNERSHIPS WITH NUMEROUS SOCIAL AND HUMAN SERVICE ORGANIZATIONS, OFFERING ON- AND OFF-SITE SCHOOL ENRICHMENT CURRICULA, CREATING OPPORTUNITIES FOR CHILD-CENTERED LEARNING AND FAMILY ENGAGEMENT. THE ART CENTER'S STUDIO EDUCATION PROGRAM ENCOMPASSES ALL TYPES OF ART "MAKING" THROUGH BOTH TUITION-BASED ART CLASSES AND FREE ART PROGRAMMING THROUGH COLLABORATING ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Fleming Executive Director | Officer | 40 | $308,606 |
Bonnie Valverde Senior Dir Of Finance & Ops | Officer | 40 | $146,902 |
Tiffany Nagel Spinner Senior Dir Of Development | 40 | $107,627 | |
Richard Deming Trustee | Trustee | 1 | $0 |
Patricia Mcfarland Trustee | Trustee | 1 | $0 |
Amy Anderson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,341,366 |
| Investment income | $1,167,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$79,609 |
| Net Gain/Loss on Asset Sales | $2,554,231 |
| Net Income from Fundraising Events | $21,226 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $67,055 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,551,253 |
| Statement of Expenses | |
|---|---|
| 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. | $480,898 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,363,067 |
| Pension plan accruals and contributions | $43,209 |
| Other employee benefits | $309,344 |
| Payroll taxes | $190,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,888 |
| Fees for services: Accounting | $47,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $80,750 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $157,650 |
| Advertising and promotion | $191,061 |
| Office expenses | $157,460 |
| Information technology | $195,470 |
| Royalties | $0 |
| Occupancy | $543,855 |
| Travel | $25,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $494,661 |
| Insurance | $212,696 |
| All other expenses | $0 |
| Total functional expenses | $7,037,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,297,479 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,686,629 |
| Accounts receivable, net | $83,167 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,946 |
| Prepaid expenses and deferred charges | $143,036 |
| Investments—publicly traded securities | $72,807,997 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,216,702 |
| Total assets | $165,716,069 |
| Accounts payable and accrued expenses | $264,693 |
| Grants payable | $0 |
| Deferred revenue | $234,880 |
| 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 | $353,800 |
| Total liabilities | $853,373 |
| Net assets without donor restrictions | $34,555,321 |
| Net assets with donor restrictions | $130,307,375 |
| 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 | $164,862,696 |