Fort Worth Art Association Endowment Foundation is located in Fort Worth, TX. The organization was established in 2013. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth Art Association Endowment Foundation 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 06/2023, Fort Worth Art Association Endowment Foundation generated $39.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $8.2m during the year ending 06/2023. While expenses have increased by 3.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF THE FORT WORTH ART ASSOCIATION, A SEC. 501(C)(3) ORGANIZATION. THE FOUNDATION IS RESPONSIBLE FOR THE ADMINISTRATION OF THE LONG TERM INVESTMENTS HELD FOR THE BENEFIT OF THE ASSOCIATION AND ITS AFFILIATES.
Describe the Organization's Program Activity:
THE FORT WORTH ART ASSOCIATION ENDOWMENT FOUNDATION IS A GROUP OF FUNDS HELD FOR THE PURPOSE OF FUNDING ART PURCHASES AND OTHER PROGRAM SERVICES IN SUPPORT OF THE FORT WORTH ART ASSOCIATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ardon Moore President/trustee | OfficerTrustee | 0.5 | $0 |
Amar Tanna Vice President/trustee | OfficerTrustee | 0.5 | $0 |
Rafa Garza Treasurer/trustee | OfficerTrustee | 0.5 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Jpmorgan Investment Services | 6/29/23 | $491,675 |
Sculptor Overseas Fund Ii Ltd Investment Services | 6/29/23 | $347,682 |
Third Point Management Investment Services | 6/29/23 | $115,464 |
Farallon Capital Offshore Investors Inc Investment Services | 6/29/23 | $227,884 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $35,363,479 |
Noncash contributions included in lines 1a–1f | $7,386,980 |
Total Revenue from Contributions, Gifts, Grants & Similar | $35,363,479 |
Total Program Service Revenue | $0 |
Investment income | $2,585,982 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,093,108 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $39,225,697 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $6,936,084 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $1,247,304 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
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 | $0 |
Insurance | $0 |
All other expenses | $4,720 |
Total functional expenses | $8,188,108 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,681,883 |
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 | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $109,360,234 |
Investments—other securities | $70,329,899 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $288,269 |
Total assets | $183,660,285 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,470,566 |
Total liabilities | $3,470,566 |
Net assets without donor restrictions | $85,389,854 |
Net assets with donor restrictions | $94,799,865 |
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 | $183,660,285 |