International Art Museum Of America
- Assets
- $1.2m
- Revenue
- $446.2k
- Investments
- $5.2k
- Employees
- 19
- Location
- San Francisco, CA
- Founding
- 08/2010
- Data as of
- 12/2022
- EIN
- 61-1615177
Organization Overview
International Art Museum Of America is located in San Francisco, CA. The organization was established in 2010. 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 12/2022, International Art Museum Of America employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Art Museum Of America 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 12/2022, International Art Museum Of America generated $446.2k 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 (4.5%) each year. All expenses for the organization totaled $420.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. 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 MISSION OF INTERNATIONAL ART MUSEUM OF AMERICA (IAMA) IS TO DISPLAY THE MOST EXQUISITE, BEAUTIFUL, AND PRECIOUS ART FROM ALL OVER THE WORLD TO PROMOTE MORAL PROGRESS, SPIRITUAL HEALTH, AND CULTURAL AND ARTISTIC DEVELOPMENT OF HUMANITY AROUND THE GLOBE. ITS VISION IS TO PROVIDE A BEAUTIFUL ENVIRONMENT FOR ALL PEOPLE THAT PROMOTES HAPPINESS, WELL BEING, AESTHETIC ENJOYMENT, AND WORLD PEACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR LARGEST PROGRAM FURTHERING OUR EXEMPT-PURPOSE WAS EXHIBITING ARTWORK. IAMA'S ACHIEVEMENTS IN THE AREA HAVE BEEN EXHIBITING THE MOST EXQUISITE, BEAUTIFUL, AND PRECIOUS ART FROM ALL OVER THE WORLD, THEREBY PROMOTING THE MORAL PROGRESS, SPIRITUAL HEALTH, AND CULTURAL AND ARTISTIC DEVELOPMENT OF HUMANITY. PEOPLE CAME TO IAMA WHERE THEY ENJOYED TOP-QUALITY ART. MANY OF THEM MARVELED OVER THE PAINTINGS, SCULPTURES, AND CALLIGRAPHY ON DISPLAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ching-Kuo Wu Director & Chairman Of The Board | Trustee | 0.1 | $0 |
Matthew Kuan Director & President | OfficerTrustee | 2 | $0 |
Steven Meyers Director & Vice President | OfficerTrustee | 2 | $0 |
Frank Hsieh Chang-Ting Director | Trustee | 0.1 | $0 |
Loretta Huang Director & Director Of Museum Operations | Trustee | 20 | $0 |
Judy Kuan Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $64,840 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $124,092 |
| All other contributions, gifts, grants, and similar amounts not included above | $174,090 |
| Noncash contributions included in lines 1a–1f | $530 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $363,022 |
| Total Program Service Revenue | $57,543 |
| Investment income | $62 |
| 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 | $14,234 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $446,178 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $232,435 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $125 |
| Payroll taxes | $20,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,565 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $87,830 |
| Travel | $2,780 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $469 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,620 |
| Insurance | $13,217 |
| All other expenses | $0 |
| Total functional expenses | $420,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $799,092 |
| Savings and temporary cash investments | $251,132 |
| 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 | $57,894 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $87,672 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,233 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,600 |
| Total assets | $1,202,623 |
| 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 | $4,430 |
| Total liabilities | $4,430 |
| Net assets without donor restrictions | $1,198,193 |
| 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 | $1,202,623 |