Walters Art Museum Foundation Inc
- Assets
- $2.6m
- Revenue
- $92.7k
- Investments
- $1.6m
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 02/1981
- Data as of
- 06/2022
- EIN
- 52-1194738
Organization Overview
Walters Art Museum Foundation Inc, operating under the name The Walters Art Museum, is located in Baltimore, MD. The organization was established in 1981. According to its NTEE Classification (A19) the organization is classified as: Support N.E.C., 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. Walters 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 06/2022, Walters Art Museum generated $92.7k 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 (11.6%) each year. All expenses for the organization totaled $120.4k during the year ending 06/2022. 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 SUPPORT AND BENEFIT THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE INSTITUTION KNOWN AS THE TRUSTEES OF THE WALTERS ART GALLERY, INC. DBA THE WALTERS ART MUSEUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE TRUSTEES OF THE WALTERS ART GALLERY, INC. (DBA THE WALTERS ART MUSEUM), A RELATED ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guy Flynn President | Trustee | 0 | $0 |
Peter Bain Treasurer | Trustee | 0 | $0 |
James Degraffenreidt Secretary | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $92,698 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,698 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $120,408 |
| 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 | $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 | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $120,408 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,406 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $883,352 |
| Investments—other securities | $1,614,895 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,642,653 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,642,653 |
| 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 | $2,642,653 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Walters Art Museum Foundation Inc has recieved totaling $280,558.
| Awarding Organization | Amount |
|---|---|
Baltimore Community Foundation Inc Baltimore, MD PURPOSE: GENERAL SUPPORT AND VARIOUS PROJECTS | $75,909 |
Richard C Von Hess Foundation Philadelphia, PA PURPOSE: WORKS OF ART SITE &DATA | $50,000 |
The Ludwig And Nancy Sternberger Charitable Foundation Wilmington, DE PURPOSE: CLASSROOM CONNECT AND OTHER FREE EDUCATIONAL PROGRAMS BEING DEVELOPED AT THE WALTERS | $40,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: MULTIPLE | $32,750 |
The United Way Of Central Maryland Inc Baltimore, MD PURPOSE: DESIGNATED AND OR GRANTED IN SUPPORT OF AGENCY PROGRAMS | $21,306 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $16,150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Maryland Symphony Orchestra Inc Hagerstown, MD | $4,651,456 | $1,450,500 |
Philadelphia Young Playwrights Philadelphia, PA | $987,040 | $626,381 |
Scientists Cliffs Association Inc Port Republic, MD | $2,817,115 | $861,002 |
Broadcast Education Association Washington, DC | $4,231,081 | $844,869 |
Renew Theaters Inc Doylestown, PA | $868,141 | $641,608 |
Fruit Tree Planting Foundation Pittsburgh, PA | $2,483,719 | $468,629 |
Diw Real Estate Holdings Corp Washington, DC | $3,420,343 | $194,704 |
Walters Art Museum Foundation Inc Baltimore, MD | $2,642,653 | $92,698 |
Josh Gibson Heritage Park Foundation Pittsburgh, PA | $0 | $0 |
Rosenfeld Org Inc Baltimore, MD | $1,132,848 | $95,688 |
Montgomery County Class Piano Inc Silver Spring, MD | $0 | $0 |
Embracing Arlington Arts Arlington, VA | $101,075 | $0 |