Louise Wells Cameron Art Museum
- Assets
- $21.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 72
- Location
- Wilmington, NC
- Founding
- 11/1964
- Data as of
- 06/2024
- 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 06/2024, Louise Wells Cameron Art Museum employed 72 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 06/2024, Louise Wells Cameron Art Museum generated $2.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $2.8m during the year ending 06/2024. While expenses have increased by 1.1% per year over the past 9 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
2024
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 |
|---|---|---|---|
Charles Boney Director | Trustee | 2 | $0 |
Charlotte Cohen Director | Trustee | 2 | $0 |
Dr Bobbi Fitzsimmons Director | Trustee | 2 | $0 |
Dr Bill E Lawson Director | Trustee | 2 | $0 |
Frances Goodman Director | Trustee | 2 | $0 |
Isabel Lujan Director | OfficerTrustee | 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 | $1,300,296 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,300,296 |
| Total Program Service Revenue | $909,899 |
| Investment income | $233,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $124,182 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,929 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,585,964 |
| 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. | $105,000 |
| Compensation of current officers, directors, key employees. | $15,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,027,956 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $160,016 |
| Payroll taxes | $90,896 |
| 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 | $61,831 |
| Advertising and promotion | $0 |
| Office expenses | $7,323 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $234,180 |
| Travel | $9,620 |
| 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 | $279,966 |
| Insurance | $75,366 |
| All other expenses | $64,164 |
| Total functional expenses | $2,792,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $756,071 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,662 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $35,870 |
| Prepaid expenses and deferred charges | $12,679 |
| Net Land, buildings, and equipment | $6,719,485 |
| Investments—publicly traded securities | $13,433,758 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,967,525 |
| Accounts payable and accrued expenses | $56,933 |
| Grants payable | $0 |
| Deferred revenue | $12,350 |
| 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 | $43,511 |
| Total liabilities | $112,794 |
| Net assets without donor restrictions | $7,420,973 |
| Net assets with donor restrictions | $13,433,758 |
| 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 | $20,967,525 |