Museo De Arte De Puerto Rico Inc
- Assets
- $36.6m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 25
- Location
- San Juan, PR
- Founding
- 04/1997
- Data as of
- 06/2023
- EIN
- 66-0537284
Organization Overview
Museo De Arte De Puerto Rico Inc is located in San Juan, PR. The organization was established in 1997. 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, Museo DE Arte DE Puerto Rico Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museo DE Arte DE Puerto Rico Inc 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, Museo DE Arte DE Puerto Rico Inc generated $6.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $6.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATING AN ART MUSEUM THAT PROMOTES THE KNOWLEDGE AND APPRECIATION OF THE VISUAL ARTS IN PUERTO RICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS, RESEARCH AND CONSERVATION AND REGISTRATION: THIS DEPARTMENT IS RESPONSIBLE FOR PROMOTING THE KNOWLEDGE AND APPRECIATION OF THE ARTS THROUGH EXHIBITIONS FEATURED BY THE MUSEUM. THIS DEPARTMENT IS THE GUARDIAN OF THE ARTWORK AND TAKES CARE OF ITS CONSERVATION AND PRESERVATION FOR FUTURE GENERATIONS.
THE MUSEUM'S EDUCATIONAL DEPARTMENT ALONG WITH OTHER CULTURAL PROGRAM FOSTER FORMAL AND INFORMAL LEARNING EXPERIENCES, BASED ON THE MUSEUM'S PERMANENT COLLECTION. THROUGH THEIR PROGRAMS THEY ENCOURAGE THE DISCOVERY OF THE AESTHETIC, HISTORICAL, SOCIAL AND CULTURAL VALUES OF THE PERMANENT COLLECTION OF THE MUSEUM AND ITS TEMPORARY EXHIBITIONS. THE DEPARTMENT DEVELOPS PROGRAMS AND INTERPRETATIVE STRATEGIES IN TUNE WITH THE NEEDS AND INTEREST OUR DIVERSE AUDIENCES.
EDUCATION AND PUBLIC PROGRAMS FUNDED BY FOUNDATIONS AND GRANTS: THE EDUCATION AND PUBLIC PROGRAMS DEPARTMENT FOSTER FORMAL AND INFORMAL LEARNING EXPERIENCES, BASED ON THE MUSEUM'S PERMANENT COLLECTION. THROUGH THEIR PROGRAMS THEY ENCOURAGE THE DISCOVERY OF THE AESTHETIC, HISTORICAL, SOCIAL AND CULTURAL VALUES OF THE PERMANENT COLLECTION OF THE MUSEUM AND ITS TEMPORARY EXHIBITIONS. THE DEPARTMENT DEVELOPS PUBLIC PROGRAMS AND INTERPRETATIVE STRATEGIES IN TUNE WITH THE NEEDS AND INTEREST OF OUR DIVERSE AUDIENCES. ALSO, DEVELOP CURRICULUM-BASED PROGRAMS AND ACTIVITIES FOR PRE SCHOOL STUDENTS TO SUPPORT THEIR ACADEMIC ACHIEVEMENT AND FOSTER 21ST CENTURY SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juan A Larrea French President | OfficerTrustee | $0 | |
Veronica Viso Vice-Preside | OfficerTrustee | $0 | |
Melba I Acosta Febo Treasurer | OfficerTrustee | $0 | |
Gloria Benitez Secretary | OfficerTrustee | $0 | |
Fernando R Batlle Trustee | Trustee | $0 | |
John T Belk III Trustee | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Construction Engineering Inc Professional Service | 6/29/16 | $326,799 |
Force Temporary Services Inc Professional Service | 6/29/16 | $118,687 |
Gm Security Technologies Security | 6/29/16 | $245,820 |
Iedifiko Bldg. Management | 6/29/16 | $134,854 |
St James Security Services Security | 6/29/16 | $243,310 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $173,723 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,418,765 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,447,472 |
| Noncash contributions included in lines 1a–1f | $538,820 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,039,960 |
| Total Program Service Revenue | $915,898 |
| Investment income | $380,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$28,289 |
| Net Income from Fundraising Events | $572,280 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $60,830 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,010,331 |
| 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 | $961,146 |
| 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 | $51,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $285,745 |
| Advertising and promotion | $3,617 |
| Office expenses | $281,703 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,235,382 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $179,979 |
| Insurance | $0 |
| All other expenses | $436,359 |
| Total functional expenses | $5,993,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,297,504 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,421,145 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $152,297 |
| Prepaid expenses and deferred charges | $79,964 |
| Net Land, buildings, and equipment | $1,023,787 |
| Investments—publicly traded securities | $9,665,498 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,957,171 |
| Total assets | $36,597,366 |
| Accounts payable and accrued expenses | $239,895 |
| Grants payable | $0 |
| Deferred revenue | $4,216,987 |
| 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 | $19,214,413 |
| Total liabilities | $23,671,295 |
| Net assets without donor restrictions | $4,809,733 |
| Net assets with donor restrictions | $8,116,338 |
| 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 | $36,597,366 |