Louise Wells Cameron Art Museum
- Assets
- $20.2m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 60
- Location
- Wilmington, NC
- Founding
- 11/1964
- Data as of
- 06/2022
- EIN
- 56-0812213
Organization Overview
Louise Wells Cameron Art Museum is located in Wilmington, NC. The organization was established in 1964. 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 06/2022, Louise Wells Cameron Art Museum employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louise Wells Cameron 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, Louise Wells Cameron Art Museum generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 0.4% 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
THE CAMERON ART MUSEUM PROVIDES A CULTURAL GATHERING PLACE THAT ENRICHES THE LIVES OF MUSEUM VISITORS AND THE COMMUNITY THROUGH HIGH-QUALITY EXHIBITIONS, LIFELONG LEARNING IN THE ARTS, DYNAMIC PUBLIC PROGRAMS, AND STEWARDSHIP AND INTERPRETATION OF THE COLLECTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EDUCATION, INCLUDING EXHIBITIONS, PUBLIC PROGRAMS, FIELD TRIPS, WORKSHOPS, CLASSES, CONCERTS, AND LECTURE SERIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Brennan Executive Director | Officer | 40 | $91,854 |
Nina Duff Vice Chair | OfficerTrustee | 2 | $0 |
Isabel Lujan Director | OfficerTrustee | 2 | $0 |
Dr Acquenetta Wheeler Secretary | Officer | 2 | $0 |
John Messick II Treasurer | Officer | 2 | $0 |
Gregory C Miller Sr Chair | Officer | 2 | $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 | $1,501,107 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,501,107 |
| Total Program Service Revenue | $544,930 |
| Investment income | $83 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $68,182 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$61,696 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,062,415 |
| 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. | $91,854 |
| Compensation of current officers, directors, key employees. | $18,371 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $748,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $120,722 |
| Payroll taxes | $69,224 |
| 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 | $247,810 |
| Advertising and promotion | $0 |
| Office expenses | $6,400 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $216,003 |
| Travel | $1,676 |
| 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 | $279,306 |
| Insurance | $47,107 |
| All other expenses | $58,345 |
| Total functional expenses | $2,618,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $686,244 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,454 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $29,565 |
| Prepaid expenses and deferred charges | $6,788 |
| Net Land, buildings, and equipment | $7,297,081 |
| Investments—publicly traded securities | $12,117,617 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,155,749 |
| Accounts payable and accrued expenses | $101,446 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $92,407 |
| Total liabilities | $198,853 |
| Net assets without donor restrictions | $7,839,279 |
| Net assets with donor restrictions | $12,117,617 |
| 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 | $20,155,749 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Louise Wells Cameron Art Museum has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Landfall Foundation Inc Wilmington, NC PURPOSE: Charitable Support | $7,500 |
Endowment Analysis
| Beg. Balance | $14,112,992 |
| Earnings | -$1,357,549 |
| Admin Expense | $82,638 |
| Other Expense | $555,188 |
| Ending Balance | $12,117,617 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cheekwood Botanical Garden And Museum Of Art Nashville, TN | $58,316,106 | $17,726,545 |
The Chrysler Museum Inc Norfolk, VA | $126,873,495 | $33,956,756 |
Mint Museum Of Art Inc Charlotte, NC | $80,854,701 | $6,923,462 |
Hunter Museum Of Art Chattanooga, TN | $45,514,020 | $7,390,848 |
Glass-Glen Burnie Museum Inc Winchester, VA | $37,985,540 | $7,078,309 |
Telfair Museum Of Art Inc Savannah, GA | $65,681,011 | $7,397,922 |
Dixon Gallery And Gardens Memphis, TN | $9,304,777 | $5,610,012 |
The Taubman Museum Of Art Roanoke, VA | $68,810,995 | $4,453,447 |
Reynolda House Inc Winston Salem, NC | $41,896,751 | $3,493,024 |
Columbia Museum Of Art Columbia, SC | $10,316,216 | $4,304,789 |
The Columbus Museum Inc Columbus, GA | $52,804,337 | $14,324,674 |
Knoxville Museum Of Art Knoxville, TN | $12,196,877 | $3,220,850 |