Albany Museum Of Art Incorporated
- Assets
- $10.9m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Albany, GA
- Founding
- 10/1966
- Data as of
- 06/2022
- EIN
- 58-6055218
Organization Overview
Albany Museum Of Art Incorporated is located in Albany, GA. The organization was established in 1966. 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, Albany Museum Of Art Incorporated employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Museum Of Art Incorporated 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, Albany Museum Of Art Incorporated generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $881.7k during the year ending 06/2022. While expenses have increased by 6.8% 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 MUSEUM PROVIDES EXPOSURE TO THE VISUAL ARTS, ENCOURAGES AWARENESS, PARTICIPATION, AND ENJOYMENT OF THE VISUAL ARTS, AND ENHANCES THE QUALITY OF LIFE IN THE SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM IS GENERALLY OPEN TO THE PUBLIC YEAR ROUND AND AT NO CHARGE. VARIOUS WORKS OF ARTS ARE ON DISPLAY FROM THE MUSEUM'S PERMANENT COLLECTION.
THE MUSEUM BRINGS IN VARIOUS EXHIBITS THROUGHOUT THE YEAR FOR VIEWING BY THE MUSEUM GOING PUBLIC.
THE MUSEUM CONDUCTS WORKSHOPS, IS A VENUE FOR PARTYS, HAS FAMILY DAYS, AND A SUMMER ART CAMP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew J Wulf Executive Di | Officer | 40 | $116,414 |
Jack Davis 2015-2021 Trustee-Past | OfficerTrustee | 0.46 | $0 |
Mallory Black 2015-2022 Trustee-Vice | OfficerTrustee | 0.46 | $0 |
Alfreda Sheppard 2014-2022 Trustee-Pres | OfficerTrustee | 0.46 | $0 |
Scott Marcus 2017-2023 Trustee-Trea | OfficerTrustee | 0.46 | $0 |
Meryl K Joiner 2021-2027 Trustee | OfficerTrustee | 0.46 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $46,797 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,725 |
| All other contributions, gifts, grants, and similar amounts not included above | $327,569 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $419,091 |
| Total Program Service Revenue | $42,540 |
| Investment income | $177,379 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,503 |
| Net Gain/Loss on Asset Sales | $263,473 |
| Net Income from Fundraising Events | $99,909 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,017,845 |
| 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. | $121,830 |
| Compensation of current officers, directors, key employees. | $97,464 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $261,788 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,921 |
| Payroll taxes | $29,921 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,782 |
| Fees for services: Other | $23,400 |
| Advertising and promotion | $135,979 |
| Office expenses | $24,298 |
| Information technology | $8,140 |
| Royalties | $0 |
| Occupancy | $110,396 |
| Travel | $1,736 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,539 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,883 |
| Insurance | $26,528 |
| All other expenses | $1,792 |
| Total functional expenses | $881,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,374 |
| Savings and temporary cash investments | $56,066 |
| 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 | $2,952,837 |
| Investments—publicly traded securities | $5,670,705 |
| Investments—other securities | $0 |
| Investments—program-related | $2,156,103 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,946,085 |
| Accounts payable and accrued expenses | $99,308 |
| 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 | $1,929 |
| Total liabilities | $101,237 |
| Net assets without donor restrictions | $5,944,390 |
| Net assets with donor restrictions | $4,900,458 |
| 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 | $10,946,085 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Albany Museum Of Art Incorporated has recieved totaling $10,019.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of West Georgia Inc Carrollton, GA PURPOSE: PROGRAM | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $19 |
Endowment Analysis
| Beg. Balance | $9,368,138 |
| Earnings | -$927,889 |
| Admin Expense | $10,782 |
| Other Expense | $602,659 |
| Ending Balance | $7,826,808 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jorge M Perez Art Museum Of Miami Dade County Inc Miami, FL | $170,476,765 | $20,155,933 |
Norton Museum Of Art Inc West Palm Beach, FL | $222,458,211 | $26,618,274 |
Cheekwood Botanical Garden And Museum Of Art Nashville, TN | $58,316,106 | $17,726,545 |
Salvador Dali Museum Inc St Petersburg, FL | $91,811,213 | $16,504,517 |
Mint Museum Of Art Inc Charlotte, NC | $80,854,701 | $6,923,462 |
Institute Of Contemporary Art Miami Inc Miami, FL | $55,226,437 | $8,674,913 |
Hunter Museum Of Art Chattanooga, TN | $45,514,020 | $7,390,848 |
Telfair Museum Of Art Inc Savannah, GA | $65,681,011 | $7,397,922 |
Deette Holden Cummer Museum Foundation Inc Jacksonville, FL | $55,301,594 | $7,203,933 |
James Museum Of Western Art St Petersburg, FL | $84,650,622 | $18,663,033 |
Dixon Gallery And Gardens Memphis, TN | $9,304,777 | $5,610,012 |
Boca Raton Museum Of Art Inc Boca Raton, FL | $21,164,716 | $6,166,794 |