Cafesjian Art Trust
- Assets
- $63.3m
- Revenue
- $22.4m
- Investments
- $38.8m
- Employees
- 0
- Location
- Roseville, MN
- Founding
- 06/2016
- Data as of
- 12/2021
- EIN
- 47-5043279
Organization Overview
Cafesjian Art Trust is located in Roseville, MN. The organization was established in 2016. According to its NTEE Classification (A50) the organization is classified as: Museums, 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. Cafesjian Art Trust 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, Cafesjian Art Trust generated $22.4m in total revenue. All expenses for the organization totaled $564.1k during the year ending 12/2021. While expenses have increased by 79.4% per year over the past 6 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 Program Activity:
THE CAFESJIAN ART TRUST PURCHASED A BUILDING THAT IT INTENDED TO SERVE AS THE SITE OF A MUSEUM FOR CONTEMPORARY STUDIO ART GLASS. AFTER EXTENSIVE RESEARCH AND PLANNING, IT WAS DETERMINED THAT THIS BUILDING DID NOT PROVIDE THE OPTIMAL LOCATION FOR THE PROPOSED ART MUSEUM AND THE TRUST PLANS TO SELL THE BUILDING IN 2022. THE TRUST PURCHASED A NEW BUILDING THAT WILL SERVE AS THE GROUNDS FOR THE NEW MUSEUM, PRIMARILY FOR THE DISPLAY OF STUDIO ART GLASS, BUT WILL ALSO DISPLAY OTHER ART PIECES AT THE DISCRETION OF THE MUSEUM CURATOR. EXPENDITURES IN FURTHERANCE OF THE TRUST'S DIRECT CHARITABLE ACTIVITIES REPRESENT FUNDS USED TO PURCHASE AND RENOVATE THE NEW BUILDING.
PERSONNEL COSTS RELATED TO THE BUILDING AND FUTURE OPERATIONS OF THE MUSEUM.
COSTS TO PROPERLY STORE AND MAINTAIN AS WELL AS DISPLAY ART THAT WILL ONE DAY BE MAINTAINED IN THE MUSEUM.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,310,083 |
| Interest on Savings | $24 |
| Dividends & Interest | $918,383 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,179,567 |
| Capital Gain Net Income | $2,179,567 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,310 |
| Total Revenue | $22,419,367 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $38,400 |
| Other employee salaries and wages | $195,680 |
| Pension plans, employee benefits | $29,336 |
| Interest | $264 |
| Taxes | $30,626 |
| Depreciation | $0 |
| Occupancy | $87,130 |
| Travel, conferences, and meetings | $835 |
| Printing and publications | $0 |
| Other expenses | $10,538 |
| Total operating and administrative expenses | $564,144 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $564,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,131 |
| Savings and temporary cash investments | $1,068,523 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,958 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,918,512 |
| Other assets | $19,379,023 |
| Total assets | $63,342,257 |
| Accounts payable and accrued expenses | $33,454 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,454 |
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