R W Norton Art Foundation
- Assets
- $92.7m
- Revenue
- $2.0m
- Investments
- $31.5m
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 02/1947
- Data as of
- 12/2023
- EIN
- 72-0517182
Organization Overview
R W Norton Art Foundation is located in Shreveport, LA. The organization was established in 1947. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. R W Norton 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 12/2023, R W Norton Art Foundation generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM OPERATIONS AND MAINTENANCE - THE PRINCIPAL ACTIVITY IS THE OPERATION OF AN ART MUSEUM AND LIBRARY IN SHREVEPORT, LA. COSTS INCURRED ARE EXPENSES FOR THE OPERATION OF THE MUSEUM AND LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maxwell Lewis Norton President | 40 | $0 | |
Ruth Norton Secretary-Treasurer | 1 | $0 | |
Joseph L Hargrove Board Member | 1 | $0 | |
Richard H Sale Board Member | 1 | $0 | |
Joseph A Waddell Jr Board Member | 1 | $0 | |
Samuel A Norton Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,270 |
| Interest on Savings | $288,470 |
| Dividends & Interest | $1,210,736 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $271,067 |
| Capital Gain Net Income | $271,067 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $173,018 |
| Total Revenue | $1,962,561 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $197,331 |
| Other employee salaries and wages | $717,652 |
| Pension plans, employee benefits | $1,796 |
| Interest | $0 |
| Taxes | $52,049 |
| Depreciation | $0 |
| Occupancy | $252,829 |
| Travel, conferences, and meetings | $250 |
| Printing and publications | $3,037 |
| Other expenses | $1,199,277 |
| Total operating and administrative expenses | $2,546,322 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,546,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,430 |
| Savings and temporary cash investments | $5,428,149 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $441,332 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $24,936,650 |
| Other assets | $29,906,324 |
| Total assets | $92,724,351 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |