Museum Of Fine Arts Houston
- Assets
- $2.2b
- Revenue
- $163.6m
- Investments
- $309.5m
- Employees
- 756
- Location
- Houston, TX
- Founding
- 07/1956
- Data as of
- 06/2021
- EIN
- 74-1109655
Organization Overview
Museum Of Fine Arts Houston is located in Houston, TX. The organization was established in 1956. 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 06/2022, Museum Of Fine Arts Houston employed 756 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Fine Arts Houston 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 06/2021, Museum Of Fine Arts Houston generated $163.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $135.2m during the year ending 06/2021. While expenses have increased by 3.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM OF FINE ARTS, HOUSTON SERVES AS A WELCOMING AND INCLUSIVE PLACE FOR ALL PEOPLE, CONNECTING THE COMMUNITIES OF HOUSTON WITH DIVERSE HISTORIES OF ART SPANNING 5,000 YEARS AND SIX CONTINENTS. THROUGH OUR PERMANENT COLLECTIONS, SPECIAL EXHIBITIONS, LEARNING AND INTERPRETATION PROGRAMS, PUBLICATIONS, CONSERVATION AND SCHOLARLY RESEARCH, WE STRIVE TO INSPIRE APPRECIATION AND UNDERSTANDING OF THE BROADEST SPECTRUM OF HUMAN ACHIEVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND PUBLIC PROGRAMS
MEMBERSHIP ACTIVITIES
ACCESSIONS, CURATORIAL AND EXHIBIT EXPENSES
GLASSELL SCHOOL OF ART
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Richard D Kinder Life Trustee, Chairman | OfficerTrustee | 1 | $0 |
Mrs Anne S Duncan Life Trustee, Vice Chairman | OfficerTrustee | 1 | $0 |
Mr Frank J Hevrdejs Life Trustee, Treasurer | OfficerTrustee | 1 | $0 |
Mrs Cornelia Long Life Trustee, Chairman Emeritus | OfficerTrustee | 1 | $0 |
Dr Anne S Chao Life Trustee | Trustee | 1 | $0 |
Ms Anne Schlumberger Life Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mccarthy Building Companies Inc General Contractor | 6/29/22 | $22,540,545 |
Lecon Inc General Contractor | 6/29/22 | $1,931,359 |
Fayez Sarofim & Co Investment Service | 6/29/22 | $1,524,167 |
Universal Protection Service Lp Security Service | 6/29/22 | $802,178 |
Us Art Company Inc Fine Art Movers/handling Service | 6/29/22 | $638,995 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,033,052 |
| Investment income | $20,368,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $105,008 |
| Net Rental Income | $207,711 |
| Net Gain/Loss on Asset Sales | $70,590,218 |
| Net Income from Fundraising Events | -$426,784 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$926,599 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $163,632,909 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $77,990 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,799,260 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,501,556 |
| Pension plan accruals and contributions | $1,035,545 |
| Other employee benefits | $4,429,818 |
| Payroll taxes | $2,058,910 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $98,244 |
| Fees for services: Accounting | $233,119 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $42,000 |
| Fees for services: Investment Management | $1,922,378 |
| Fees for services: Other | $8,746,836 |
| Advertising and promotion | $1,338,812 |
| Office expenses | $1,160,850 |
| Information technology | $1,934,344 |
| Royalties | $0 |
| Occupancy | $3,597,855 |
| Travel | $108,772 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,435 |
| Interest | $7,236 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,071,517 |
| Insurance | $2,483,563 |
| All other expenses | $0 |
| Total functional expenses | $135,166,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,313,696 |
| Savings and temporary cash investments | $181,958,598 |
| Pledges and grants receivable | $34,643,986 |
| Accounts receivable, net | $819,885 |
| Loans from Officers, Directors, or Controlling Persons | $631,114 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $714,851 |
| Prepaid expenses and deferred charges | $816,436 |
| Investments—publicly traded securities | $1,126,263,587 |
| Investments—other securities | $309,514,533 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,407,964 |
| Total assets | $2,157,086,703 |
| Accounts payable and accrued expenses | $40,302,199 |
| Grants payable | $0 |
| Deferred revenue | $16,272,223 |
| 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 | $56,574,422 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,100,512,281 |