Friends Of The Wichita Art Museum Inc
- Assets
- $59.7k
- Revenue
- $34.6k
- Investments
- $37.7k
- Employees
- 0
- Location
- Wichita, KS
- Founding
- 09/1961
- Data as of
- 12/2022
- EIN
- 48-0671136
Organization Overview
Friends Of The Wichita Art Museum Inc is located in Wichita, KS. The organization was established in 1961. According to its NTEE Classification (A51) the organization is classified as: Art 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. Friends Of The Wichita Art Museum Inc 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 12/2022, Friends Of The Wichita Art Museum Inc generated $34.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $39.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 8 years. 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
THE FRIENDS OF THE WICHITA ART MUSEUM (ORGANIZATION) IS A VOLUNTEER GROUP WHOSE MISSION IS TO SUPPORT THE WICHITA ART MUSEUM. ITS PURPOSE IS TO PROMOTE THE RELATIONSHIP BETWEEN THE WICHITA ART MUSEUM AND THE GENERAL PUBLIC BY INITIATING AND IMPLEMENTING PROGRAMS, ACTIVITIES AND EVENTS THAT PROMOTE PARTICIPATION AND GENERATE FINANCIAL SUPPORT OF THE FRIENDS OF THE WICHITA ART MUSEUM ENDOWMENT FUNDS, PROMOTE VOLUNTEER SUPPORT FOR THE WICHITA ART MUSEUM, AND PROMOTE EDUCATION AND INTEREST IN THE VISUAL ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS ESTABLISHED FOUR FUNDS, (NAMELY THE GENERAL ENDOWMENT FUND, LIBRARY ENDOWMENT FUND, HOWARD E. WOODEN LECTURE SERIES ENDOWMENT FUND, AND SPECIAL GIFT FUND), AT THE WICHITA COMMUNITY FOUNDATION EXCLUSIVELY FOR THE BENEFIT OF THE MUSEUM. DURING 2022, $100 WAS CONTRIBUTED TO THE GENERAL ENDOWMENT FUND AND $15,000 WAS CONTRIBUTED TO THE SPECIAL GIFTS FUND DURING THE YEAR ENDED DECEMBER 31, 2022. AT DECEMBER 31, 2022 THE ENDOWMENT FUNDS HAVE A COMBINED VALUE OF APPROXIMATELY $3.1 MILLION. THE ENDOWMENT FUNDS PROVIDED APPROXIMATELY $125,000 OF SUPPORT TO THE WICHITA ART MUSEUM IN 2022.
ART TRIPS AND EVENTS ARE CONDUCTED TO PROMOTE THE RELATIONSHIP BETWEEN THE WICHITA ART MUSUEM AND THE GENERAL PUBLIC BY INITIATING AND IMPLPEMENTING PROGRAMS, ACTIVITIES AND EVENTS THAT PROMOTE PARTICIPATION AND GENERATE FINANCIAL SUPPORT OF THE ORGANIZATION AND OF THE WICHITA ART MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Wright Chair | OfficerTrustee | 10 | $0 |
Dennis Murphy Vice Chair | OfficerTrustee | 10 | $0 |
Jaclyn Reilly Secretary | OfficerTrustee | 10 | $0 |
Betty Krehbiel Treasurer | OfficerTrustee | 10 | $0 |
Brenda Aldinger Director | Trustee | 2 | $0 |
Joy Archer Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,186 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,186 |
| Total Program Service Revenue | $9,172 |
| Investment income | $1,235 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $21,028 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,621 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,100 |
| 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 | $4,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $765 |
| Advertising and promotion | $253 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,012 |
| 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 | $1,662 |
| All other expenses | $1,720 |
| Total functional expenses | $39,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,538 |
| 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 | $432 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $37,738 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $59,708 |
| Accounts payable and accrued expenses | $656 |
| 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 | $214 |
| Total liabilities | $870 |
| Net assets without donor restrictions | $58,838 |
| Net assets with donor restrictions | $0 |
| 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 | $59,708 |