Knoxville Museum Of Art
- Assets
- $12.2m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 53
- Location
- Knoxville, TN
- Founding
- 05/1963
- Data as of
- 06/2023
- EIN
- 62-0677701
Organization Overview
Knoxville Museum Of Art is located in Knoxville, TN. The organization was established in 1963. 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 06/2023, Knoxville Museum Of Art employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Museum 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 06/2023, Knoxville Museum Of Art generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $3.2m during the year ending 06/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COLLECTION, PRESERVATION, EDUCATION, AND EXHIBITION OF WORKS OF ART FOR THE BENEFIT OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND PUBLIC PROGRAMS
EXHIBITIONS OF ART, INCLUDING FACILITIES AND SECURITY.
CURATORIAL COSTS, INCLUDING VALUATIONS, ACQUISITIONS, AND CARE OF ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julia Bentley Chair | OfficerTrustee | 2 | $0 |
Taylor Wortham Chair-Elect | OfficerTrustee | 2 | $0 |
David L Butler Executive Director | OfficerTrustee | 40 | $121,900 |
Ceasar Stair IV Immediate Past Chair | OfficerTrustee | 2 | $0 |
June Heller Secretary | OfficerTrustee | 2 | $0 |
Steve Bailey Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $169,654 |
| Fundraising events | $1,090,187 |
| Related organizations | $265,856 |
| Government grants | $459,390 |
| All other contributions, gifts, grants, and similar amounts not included above | $781,657 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,766,744 |
| Total Program Service Revenue | $68,218 |
| Investment income | $67,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $88,425 |
| Net Gain/Loss on Asset Sales | $25,415 |
| Net Income from Fundraising Events | -$329,349 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $78,121 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,780,875 |
| 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. | $188,007 |
| Compensation of current officers, directors, key employees. | $47,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,291,566 |
| Pension plan accruals and contributions | $15,146 |
| Other employee benefits | $0 |
| Payroll taxes | $104,662 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,038 |
| Fees for services: Other | $117,789 |
| Advertising and promotion | $10,758 |
| Office expenses | $67,203 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $161,121 |
| Travel | $25,911 |
| 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 | $563,953 |
| Insurance | $127,311 |
| All other expenses | $157,673 |
| Total functional expenses | $3,150,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,766,122 |
| Savings and temporary cash investments | $2,323,376 |
| Pledges and grants receivable | $5,000 |
| 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 | $50,537 |
| Prepaid expenses and deferred charges | $33,463 |
| Net Land, buildings, and equipment | $7,769,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $216,246 |
| Total assets | $12,164,646 |
| Accounts payable and accrued expenses | $243,941 |
| Grants payable | $0 |
| Deferred revenue | $16,300 |
| 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 | $0 |
| Total liabilities | $260,241 |
| Net assets without donor restrictions | $11,446,969 |
| Net assets with donor restrictions | $457,436 |
| 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 | $12,164,646 |