George Phippen Memorial Foundation
- Assets
- $7.1m
- Revenue
- $789.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Prescott, AZ
- Founding
- 11/1976
- Data as of
- 12/2022
- EIN
- 51-0157597
Organization Overview
George Phippen Memorial Foundation is located in Prescott, AZ. The organization was established in 1976. 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 12/2022, George Phippen Memorial Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. George Phippen Memorial Foundation 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, George Phippen Memorial Foundation generated $789.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $780.6k during the year ending 12/2022. While expenses have increased by 7.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND EXHIBIT MUSEUM QUALITY WESTERN ART AND EDUCATE THE PUBLIC ABOUT THE UNIQUE HERITAGE, HISTORY, LEGENDS, AND INFLUENCE OF ART OF THE AMERICAN WEST
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE MUSEUM HAD APPROXIMATELY 550 ACTIVE MEMBERS, 4,100 VISITORS, AND ALSO PROVIDED MULTIPLE EDUCATIONAL PROGRAMS AND ART EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Wenzel Treasurer | OfficerTrustee | 2 | $59,355 |
Julie Rushing Member | Trustee | 1 | $0 |
Kevin Pitts Chairman | OfficerTrustee | 1 | $0 |
Val Ripley Member | Trustee | 1 | $0 |
Darrell Phippen Honorary Truste | Trustee | 1 | $0 |
Myron Deibel Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $58,120 |
| Fundraising events | $31,200 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $140,945 |
| Noncash contributions included in lines 1a–1f | $72,505 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,265 |
| Total Program Service Revenue | $132,437 |
| Investment income | -$73,231 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,605 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $307,363 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $35,375 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $789,205 |
| 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. | $59,355 |
| Compensation of current officers, directors, key employees. | $59,355 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $217,234 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $806 |
| Payroll taxes | $20,253 |
| 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 | $150,233 |
| Advertising and promotion | $52,587 |
| Office expenses | $51,128 |
| Information technology | $5,832 |
| Royalties | $0 |
| Occupancy | $68,618 |
| Travel | $2,140 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $39,940 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,768 |
| Insurance | $15,048 |
| All other expenses | -$74,700 |
| Total functional expenses | $780,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $720,195 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $98,362 |
| Prepaid expenses and deferred charges | $325 |
| Net Land, buildings, and equipment | $2,579,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,739,995 |
| Total assets | $7,138,361 |
| Accounts payable and accrued expenses | $25,442 |
| Grants payable | $0 |
| Deferred revenue | $10,538 |
| 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 | -$450 |
| Total liabilities | $35,530 |
| Net assets without donor restrictions | $7,044,466 |
| Net assets with donor restrictions | $58,365 |
| 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 | $7,138,361 |