Nebraska Art Association
- Assets
- $3.7m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 02/1950
- Data as of
- 06/2022
- EIN
- 47-6026671
Organization Overview
Nebraska Art Association is located in Lincoln, NE. The organization was established in 1950. 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. Nebraska Art Association 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, Nebraska Art Association generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $414.6k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE AND PROMOTE ART AND ART APPRECTIATION BY PROMOTING ART EXHIBITS, AQUIRING WORKS OF ART AND PROMOTING ART EDUCATION TO THE PUBLIC.
Describe the Organization's Program Activity:
COLLECTIONS OF ART. THIS PROGRAM INCLUDES ACTIVITIES OF DIGITIZING THE COLLECTION OF THE MUSEUM. THROUGH OUR COLLECTIONS, EXHIBITIONS, AND PROGRAMS, SHELDON MUSEUM OF ART INSPIRES INQUIRY AND DISCOVERY, SERVING THE UNIVERSITY OF NEBRASKA, THE STATE, AND BEYOND.
OTHER PROGRAMS INCLUDE CONSERVATION, EXIBITIONS, MUSEUM STORE, MEMBERSHIP. SPECIAL EVENTS, AND STATEWIDE EDUCATION.
ACQUISITION OF WORKS OF ART FOR DISPLAY AT THE SHELDON MUSEUM OF ART. MORE THAN THIRTY OF SHELDON'S MONUMENTAL SCULPTURES ARE EXHIBITED THROUGHOUT THE UNIVERSITY OF NEBRASKALINCOLN'S CITY AND EAST CAMPUSES, INCLUDING MAJOR WORKS BY GASTON LACHAISE, JACQUES LIPCHITZ, CLAES OLDENBURG AND COOSJE VAN BRUGGEN, RICHARD SERRA, AND MARK DI SUVERO.
EDUCATIONAL ACTIVITIES. AT SHELDON MUSEUM OF ART, WE EXPLORE ART'S POTENTIAL TO SPARK AWARENESS AND ENGAGEMENT WITHIN THE UNIVERSITY COMMUNITY AND DEMOCRATIC SOCIETY AS A WHOLE. WORKING IN PARTNERSHIP WITH ARTISTS, COMMUNITY MEMBERS, AND SCHOLARS, WE CREATE PROGRAMS THAT INVITE MULTIPLE APPROACHES FROM DIVERSE DISCIPLINES AND CULTURES. USING OBJECTS AS OUR FOCUS, WE BRING VIEWERS TOGETHER TO LOOK CLOSELY, THINK CRITICALLY, AND ASK QUESTIONS ABOUT HOW ART REVEALS THE SHAPE OF LIFE AND SOCIETYBOTH THROUGHOUT HISTORY AND IN THE HERE AND NOWAS WELL AS ABOUT HOW ART HELPS US TO ENVISION NEW FUTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Biggs-Wudel Trustee | Trustee | 1 | $0 |
Jason Bombeck Treasurer | OfficerTrustee | 1 | $0 |
Kara Brostrom Trustee | Trustee | 1 | $0 |
Jennifer Cintani Trustee | Trustee | 1 | $0 |
David Clark Trustee | Trustee | 1 | $0 |
Geoffrey Cline Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $109,939 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $972,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,082,248 |
| Total Program Service Revenue | $3,564 |
| Investment income | $65,398 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $109,617 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$6,491 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,254,336 |
| 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. | $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 | $5,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,673 |
| Fees for services: Other | $2,888 |
| Advertising and promotion | $893 |
| Office expenses | $51 |
| Information technology | $2,081 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,116 |
| 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 | $952 |
| Insurance | $2,527 |
| All other expenses | $29,697 |
| Total functional expenses | $414,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $392,906 |
| Pledges and grants receivable | $347,647 |
| Accounts receivable, net | $38,821 |
| 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 | $4,029 |
| Investments—publicly traded securities | $2,935,189 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,718,592 |
| Accounts payable and accrued expenses | $7,097 |
| 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 | $7,097 |
| Net assets without donor restrictions | $2,492,528 |
| Net assets with donor restrictions | $1,218,967 |
| 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 | $3,718,592 |