Museum Of Nebraska Art
- Assets
- $29.3m
- Revenue
- $12.8m
- Investments
- $4.5k
- Employees
- 13
- Location
- Kearney, NE
- Founding
- 02/1979
- Data as of
- 06/2022
- EIN
- 47-0608588
Organization Overview
Museum Of Nebraska Art is located in Kearney, NE. The organization was established in 1979. 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 06/2022, Museum Of Nebraska Art employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Nebraska Art 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 06/2022, Museum Of Nebraska Art generated $12.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.4% each year . All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 5.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ENJOYMENT AND EDUCATION OF NEBRASKA-CONNECTED ARTISTS AND ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMMING AND COORDINATED EVENTS WITH LOCAL YOUTH ART PROGRAMS.
OTHER ACTIVITIES OF THE MUSEUM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Herden Executive Director | Officer | 40 | $126,393 |
Marilyn Hadley Immediate Past President | OfficerTrustee | 1 | $0 |
John Heil Treasurer | OfficerTrustee | 1 | $0 |
Jan Einspahr Secretary | OfficerTrustee | 1 | $0 |
Tom Gallagher President | OfficerTrustee | 1 | $0 |
Sue Quambusch President-Elect | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $52,640 |
| Fundraising events | $148,661 |
| Related organizations | $0 |
| Government grants | $193,457 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,151,114 |
| Noncash contributions included in lines 1a–1f | $1,000,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,545,872 |
| Total Program Service Revenue | $2,936 |
| Investment income | $105,309 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $201,897 |
| Net Income from Fundraising Events | -$70,599 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$19,201 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,796,061 |
| 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. | $118,451 |
| Compensation of current officers, directors, key employees. | $31,982 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $296,015 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,519 |
| Payroll taxes | $1,837 |
| Fees for services: Management | $2,036 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,335 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,068 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,231 |
| Office expenses | $7,893 |
| Information technology | $13,356 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,778 |
| 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 | $111,638 |
| Insurance | $23,422 |
| All other expenses | $25,612 |
| Total functional expenses | $1,473,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,487,879 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,580,146 |
| Accounts receivable, net | $32 |
| 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 | $40,188 |
| Net Land, buildings, and equipment | $6,025,029 |
| Investments—publicly traded securities | $5,695,628 |
| Investments—other securities | $4,538 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,431,457 |
| Total assets | $29,264,897 |
| Accounts payable and accrued expenses | $731,677 |
| 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 | $0 |
| Total liabilities | $731,677 |
| Net assets without donor restrictions | $13,685,916 |
| Net assets with donor restrictions | $14,847,304 |
| 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 | $29,264,897 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Museum Of Nebraska Art has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Donlan Foundation Wichita, KS PURPOSE: OPERATING FUND FOR OTHER PUBLIC CHARITY | $1,000 |
Endowment Analysis
| Beg. Balance | $6,364,571 |
| Earnings | -$768,942 |
| Net Contributions | $140,810 |
| Other Expense | $40,811 |
| Ending Balance | $5,695,628 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aspen Art Museum Aspen, CO | $45,036,257 | $9,544,522 |
Joslyn Art Museum Omaha, NE | $43,999,594 | $13,873,900 |
Edmundson Art Foundation Inc Des Moines, IA | $123,873,821 | $5,221,950 |
Mca Denver Denver, CO | $23,563,221 | $5,372,838 |
Clyfford Still Museum Denver, CO | $20,985,352 | $4,386,446 |
Kemper Museum Operating Foundation Kansas City, MO | $21,285,156 | $4,170,305 |
New Museum At The Bradford Brinton Ranch Big Horn, WY | $21,761,530 | $2,659,139 |
American Museum Of Western Art-The Anschutz Collection Denver, CO | $3,359,244 | $1,672,973 |
Kaneko Omaha, NE | $7,661,179 | $2,044,915 |
Cedar Rapids Museum Of Art Cedar Rapids, IA | $10,975,724 | $1,897,118 |
Museum Of Nebraska Art Kearney, NE | $29,264,897 | $12,796,061 |
River Music Experience Davenport, IA | $3,858,577 | $1,649,242 |