Trustees Of The Corcoran Gallery Of Art

Organization Overview

Trustees Of The Corcoran Gallery Of Art is located in Falls Church, VA. The organization was established in 1924. 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. Trustees Of The Corcoran Gallery Of Art 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, Trustees Of The Corcoran Gallery Of Art generated $208.6k 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 (11.0%) each year. All expenses for the organization totaled $691.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE GALLERY WAS FORMED TO ESTABLISH AN INSTITUTION IN WASHINGTON, DC DEDICATED TO ART AND USED FOR THE PURPOSE OF ENCOURAGING AMERICAN GENIUS IN THE PRODUCTION AND PRESERVATION OF WORKS PERTAINING TO THE FINE ARTS AND KINDRED OBJECTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WIND DOWN - ACTIVITIES RELATED TO WINDING DOWN THE PREVIOUS OPERATIONS OF THE ORGANIZATION.


FUTURE PLANNING - ACTIVITIES RELATED TO DETERMINING THE FUTURE DIRECTION OF THE ORGANIZATION.


GRANTS AND DONATIONS


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Board, Officers & Key Employees

Name (title)Compensation
Harry F Hopper
Chairman
$0
Fred Knops
Treasurer
$0
Molly Rolandi
Secretary
$0
Michela English
Director
$0
Shannon Finley
Director
$0
Linda Fine
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Paul Hastings Llp
Legal Services
$639,013
Julyan & Julyan
Legal Services
$231,000
View All Vendors

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 $114,621
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $93,961
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $208,582

Grants Awarded

Over the last fiscal year, Trustees Of The Corcoran Gallery Of Art has awarded $244,524 in support to 2 organizations.

Grant RecipientAmount

GEORGE WASHINGTON UNIVERSITY

PURPOSE: VISITING PROFESSOR PROGRAM

$120,000

THE CORCORAN WOMENS COMMITTEE

PURPOSE: WC BECAME A STAND-ALONE ENTITY; THE GRANT WAS EXISTING CWC FUNDS TO BE USED FOR THE ONGOING CHARITABLE WORK OF THE CWC

$124,524
View Grant Profile

Peer Organizations

Organization NameAssets
Baltimore Museum Of Art Inc
Baltimore, MD
$28,167,570
Phillips Collection
Washington, DC
$15,615,081
Mint Museum Of Art Inc
Charlotte, NC
$11,062,992
Cheekwood Botanical Garden And Museum Of Art
Nashville, TN
$15,349,949
J B Speed Art Museum
Louisville, KY
$18,957,761
The Chrysler Museum Inc
Norfolk, VA
$33,956,756
National Museum Of Women In The Arts Inc
Washington, DC
$28,831,292
Glass-Glen Burnie Museum Inc
Winchester, VA
$8,998,335
Dixon Gallery And Gardens
Memphis, TN
$6,123,979
The Taubman Museum Of Art
Roanoke, VA
$3,235,991
Hunter Museum Of Art
Chattanooga, TN
$3,190,456
Reynolda House Inc
Winston Salem, NC
$4,689,357
The American Visionary Art Museum Inc
Baltimore, MD
$4,974,800
Knoxville Museum Of Art
Knoxville, TN
$2,780,875
Asheville Art Museum Association Inc
Asheville, NC
$3,167,007
Louise Wells Cameron Art Museum
Wilmington, NC
$2,585,964
Huntington Museum Of Art Inc
Huntington, WV
$2,630,355
National Ornamental Metal Museum Inc
Memphis, TN
$3,479,440
Washington County Museum Of Fine Arts
Hagerstown, MD
$1,947,033
Virginia Museum Of Animal Art
Charlottesville, VA
$3,340,320
Blowing Rock Art & History Museum Inc
Blowing Rock, NC
$1,545,091
Hickory Museum Of Art Inc
Hickory, NC
$813,552
Contemporary Art Foundation Inc
Raleigh, NC
$552,436
Trustees Of The Corcoran Gallery Of Art
Falls Church, VA
$208,582
Washington Project For The Arts Inc
Washington, DC
$583,013

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