Delaware Art Museum
- Assets
- $55.5m
- Revenue
- $5.1m
- Investments
- $1.2m
- Employees
- 47
- Location
- Wilmington, DE
- Founding
- 03/1935
- Data as of
- 12/2021
- 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 12/2021, Delaware Art Museum employed 47 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 12/2021, Delaware Art Museum generated $5.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $5.4m during the year ending 12/2021. 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
2021
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Giordano Interim Executive Director | Officer | 40 | $160,692 |
Denise Davis Chief Financial Officer | Officer | 24 | $73,696 |
Carol S Rothschild Asst Secretary | OfficerTrustee | 1 | $0 |
Christine Moritz Vice President | OfficerTrustee | 1 | $0 |
David Pollack President | OfficerTrustee | 1 | $0 |
Daniel Lindley Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Services Contract Security | 12/30/21 | $255,011 |
Davis Young Associates Inc Construction | 12/30/21 | $154,037 |
Farrell Roofing Inc Roofing | 12/30/21 | $191,948 |
Icorps Technologies Inc It Service | 12/30/21 | $103,310 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $120,100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $996,386 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,165,375 |
| Noncash contributions included in lines 1a–1f | $10,138 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,281,861 |
| Total Program Service Revenue | $253,990 |
| Investment income | $713,245 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $262,417 |
| Net Income from Fundraising Events | $16,493 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$397,609 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,141,343 |
| 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. | $234,388 |
| Compensation of current officers, directors, key employees. | $234,388 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,472,263 |
| 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 | $57,287 |
| Office expenses | $57,421 |
| 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 | $686,577 |
| Insurance | $169,502 |
| All other expenses | $562,901 |
| Total functional expenses | $5,356,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,915,063 |
| Pledges and grants receivable | $3,752,843 |
| Accounts receivable, net | $14,444 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $134,735 |
| Prepaid expenses and deferred charges | $164,195 |
| Net Land, buildings, and equipment | $18,832,197 |
| Investments—publicly traded securities | $28,489,988 |
| Investments—other securities | $1,206,040 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,509,505 |
| Accounts payable and accrued expenses | $199,907 |
| Grants payable | $0 |
| Deferred revenue | $65,973 |
| 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 | $265,880 |
| Net assets without donor restrictions | $44,135,197 |
| Net assets with donor restrictions | $11,108,428 |
| 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 | $55,509,505 |
Grants Recieved
Over the last fiscal year, we have identified 27 grants that Delaware Art Museum has recieved totaling $786,865.
| Awarding Organization | Amount |
|---|---|
Woolard Family Foundation Inc Palm Beach Gardens, FL PURPOSE: PROGRAM ASSISTANCE | $225,000 |
Choptank Foundation Wilmington, DE PURPOSE: TO SUPPORT THE MUSEUM'S TIFFANY EXHIBITION | $100,000 |
Welfare Foundation Inc Wilmington, DE PURPOSE: DELART'S ART SENTRY SECURITY PROGRAM | $75,000 |
Nathan M Clark Foundation Wilmington, DE PURPOSE: GENERAL CHARITABLE PURPOSES | $65,000 |
Acierno Family Foundation Wilmington, DE PURPOSE: THE FURTHERANCE OF CHARITABLE PROGRAMS | $50,000 |
Kullman Family Foundation Wilmington, DE PURPOSE: TO SUPPORT CHARITABLE ENDEAVORS | $50,000 |
Endowment Analysis
| Beg. Balance | $32,025,331 |
| Earnings | $3,681,733 |
| Net Contributions | $2,437,168 |
| Other Expense | $3,515,110 |
| Ending Balance | $34,629,122 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Museum Of Art Inc Baltimore, MD | $169,284,027 | $31,272,929 |
Frick Art & Historical Center Inc Pittsburgh, PA | $114,709,586 | $11,420,206 |
The Bellis Blauvelt-Demarest Foundations Inc Bedminster, NJ | $7,657,281 | $1,264,070 |
Delaware Art Museum Wilmington, DE | $55,509,505 | $5,141,343 |
Montclair Art Museum Montclair, NJ | $23,752,572 | $7,870,896 |
Westmoreland Museum Of Art Greensburg, PA | $35,133,253 | $6,299,818 |
James A Michener Art Museum Doylestown, PA | $37,467,675 | $3,432,094 |
The American Visionary Art Museum Inc Baltimore, MD | $12,141,748 | $3,802,625 |
Woodmere Art Museum Inc Philadelphia, PA | $17,785,548 | $3,237,366 |
Allentown Art Museum Allentown, PA | $26,548,159 | $2,690,697 |
Fine Arts Discovery Series Inc Stroudsburg, PA | $3,706,753 | $3,998,025 |
Washington County Museum Of Fine Arts Hagerstown, MD | $25,151,271 | $5,933,209 |