Mississippi Museum Of Art Foundation
- Assets
- $6.6m
- Revenue
- $289.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Jackson, MS
- Founding
- 04/1987
- Data as of
- 06/2022
- EIN
- 64-0740515
Organization Overview
Mississippi Museum Of Art Foundation is located in Jackson, MS. The organization was established in 1987. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Museum Of Art Foundation 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, Mississippi Museum Of Art Foundation generated $289.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $271.3k during the year ending 06/2022. 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
CULTURAL AND ARTISTIC ENLIGHTENMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULTURAL AND ARTISTIC ENLIGHTENMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elee Reeves President | OfficerTrustee | 0.5 | $0 |
Deidra Bell Treasurer | OfficerTrustee | 0.5 | $0 |
Chrsty Jones Member | OfficerTrustee | 0.5 | $0 |
Betsy Bradley Exec Dir - Museum | Officer | 0.5 | $0 |
Peder Johnson Member | Trustee | 0.5 | $0 |
Julius Ridgway Member | Trustee | 0.5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $110,883 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $178,857 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $289,740 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $271,294 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $271,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,157 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $5,221,726 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,245,000 |
| Total assets | $6,642,883 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $4,248,971 |
| Net assets with donor restrictions | $2,393,912 |
| 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 | $6,642,883 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mississippi Museum Of Art Foundation has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
James & Madeleine Mcmullan Family Foundation Lake Forest, IL PURPOSE: GENERAL SUPPORT | $250,000 |
James & Madeleine Mcmullan Family Foundation Lake Forest, IL PURPOSE: GENERAL SUPPORT | $250,000 |
Endowment Analysis
| Beg. Balance | $5,404,826 |
| Earnings | -$727,649 |
| Other Expense | $221,789 |
| Ending Balance | $4,455,388 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
Barber Vintage Motorsports Museum Birmingham, AL | $96,854,317 | $20,184,084 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |
Cook Museum Of Natural Science Decatur, AL | $31,863,685 | $9,083,410 |
Adventure Science Center Nashville Nashville, TN | $22,045,170 | $10,457,321 |
Tennessee Valley Railroad Museum Inc Chattanooga, TN | $14,724,108 | $5,452,372 |
Childrens Museum Of Northwestarkansas Bentonville, AR | $23,218,828 | $2,416,188 |
The Ogden Museum Of Southern Art Inc New Orleans, LA | $9,894,768 | $3,382,497 |
Museum Of Discovery Little Rock, AR | $11,251,257 | $7,522,016 |
Mast Inc Pearlington, MS | $21,017,429 | $1,438,366 |