Delaware Art Museum
- Assets
- $50.0m
- Revenue
- $5.1m
- Investments
- $1.1m
- Employees
- 65
- Location
- Wilmington, DE
- Founding
- 03/1935
- Data as of
- 12/2023
- EIN
- 51-0065746
Organization Overview
Delaware Art Museum is located in Wilmington, DE. The organization was established in 1935. 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 12/2023, Delaware Art Museum employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Art Museum 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 12/2023, Delaware Art Museum generated $5.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $6.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COLLECT,PRESERVE,EXHIBIT, & INTERPRET WORKS OF ART
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL EXPENSES FOR THE CONSERVATION & EXHIBITION OF ART
EDUCATION
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Pollack Asst Secretary | OfficerTrustee | 1 | $0 |
Gerret Van S Copeland Chairman | OfficerTrustee | 1 | $0 |
Susan Thomas First Vice President | OfficerTrustee | 1 | $0 |
Christine Moritz President | OfficerTrustee | 1 | $0 |
Jeanana Lloyd Second Vice President | OfficerTrustee | 1 | $0 |
Barak Bassman Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pearl Preservation Llc Program Implementation | 12/30/23 | $107,903 |
Icorps Technologies Inc It Service | 12/30/23 | $105,395 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $182,604 |
| Fundraising events | $84,045 |
| Related organizations | $0 |
| Government grants | $1,441,620 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,359,211 |
| Noncash contributions included in lines 1a–1f | $57,543 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,067,480 |
| Total Program Service Revenue | $477,726 |
| Investment income | $683,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$800,986 |
| Net Income from Fundraising Events | $64,486 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$403,203 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,124,381 |
| 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. | $250,111 |
| Compensation of current officers, directors, key employees. | $250,111 |
| Compensation to disqualified persons | $2,120,264 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $97,142 |
| Office expenses | $86,382 |
| 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 | $715,492 |
| Insurance | $186,715 |
| All other expenses | $679,025 |
| Total functional expenses | $6,318,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,886,777 |
| Pledges and grants receivable | $2,120,496 |
| Accounts receivable, net | $52,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $126,690 |
| Prepaid expenses and deferred charges | $93,573 |
| Net Land, buildings, and equipment | $17,711,462 |
| Investments—publicly traded securities | $24,899,884 |
| Investments—other securities | $1,107,319 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,998,554 |
| Accounts payable and accrued expenses | $281,254 |
| Grants payable | $0 |
| Deferred revenue | $78,180 |
| 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 | $359,434 |
| Net assets without donor restrictions | $40,130,799 |
| Net assets with donor restrictions | $9,508,321 |
| 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 | $49,998,554 |