Museum Of Fine Arts Houston
- Assets
- $2.2b
- Revenue
- $163.6m
- Investments
- $309.5m
- Employees
- 753
- 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 06/2021, Museum Of Fine Arts Houston employed 753 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 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $135.2m during the year ending 06/2021. While expenses have increased by 3.6% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM OF FINE ARTS, HOUSTON (THE "MUSEUM") IS ORGANIZED AND IS TO BE OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERARY, AND EDUCATIONAL PURPOSES, INCLUDING THE OPERATION AND MAINTENANCE OF ONE OR MORE MUSEUM FACILITIES AND, IN CONNECTION THEREWITH, THE OPERATION AND MAINTENANCE OF AN ARTS SCHOOL AND THE CONDUCT OF SUCH OTHER CHARITABLE, SCIENTIFIC, LITERARY, AND EDUCATIONAL ACTIVITIES AS ARE CUSTOMARILY CARRIED ON BY A MUSEUM AND WHICH ARE APPROVED BY THE BOARD OF TRUSTEES.
Describe the Organization's Program Activity:
EDUCATION AND PUBLIC PROGRAMS
ACCESSIONS, CURATORIAL AND EXHIBIT EXPENSES
GLASSELL SCHOOL OF ART
MEMBERSHIP ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Tinterow Director | Officer | 35 | $1,064,745 |
Eric Anyah Chief Financial Officer | Officer | 35 | $547,109 |
Amy Purvis Chief Development Officer | Officer | 35 | $438,686 |
John Willard Holmes Chief Operating Officer | Officer | 35 | $438,158 |
Darren A Bartsch Investment Officer | 35 | $357,439 | |
Zachary Haines Chief Technology Officer | 35 | $220,421 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Johnson Controls Building Efficiency Management | 6/29/21 | $2,504,661 |
Steven Holl Architects Pc Design Architect | 6/29/21 | $1,880,505 |
Mccarthy Building Companies Inc General Contractor | 6/29/21 | $45,027,266 |
Fayez Sarofim & Co Investment Service | 6/29/21 | $1,221,284 |
Universal Protection Service Lp Security Service | 6/29/21 | $832,007 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,641,524 |
| Related organizations | $0 |
| Government grants | $321,060 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,070,468 |
| Noncash contributions included in lines 1a–1f | $32,937,896 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,033,052 |
| Total Program Service Revenue | $8,097,176 |
| 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 organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $2,233,270 |
| 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 | $1,909,727 |
| 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 |
| Net Land, buildings, and equipment | $441,002,053 |
| 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 | $712,383,403 |
| Net assets with donor restrictions | $1,388,128,878 |
| 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 | $2,157,086,703 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Museum Of Fine Arts Houston has recieved totaling $41,100.
| Awarding Organization | Amount |
|---|---|
Favrot Fund Houston, TX PURPOSE: THE OBJECTIVE OF THE MFA IS TO SERVE ALL PEOPLE BY PURSUING EXCELLENCE IN ART THROUGH COLLECTION, EXHIBITION, AND EDUCATION BY BRINGING ART INTO THE EVERYDAY LIFE OF ALL HOUSTONIANS. THE PURPOSE OF THE GRANT IS TWOFOLD: (1) $40,000 TO HELP FUND THE COLOMBIAN ART EXHIBITION; AND (2) $1,000 TO THE GENERAL FUND IN MEMORY OF FAYEZ SAROFIM. | $41,000 |
Rinehart Family Foundation Houston, TX PURPOSE: COMMUNITY ACCESS TO MUSEUM | $100 |
Endowment Analysis
| Beg. Balance | $1,294,196,223 |
| Earnings | $386,868,283 |
| Admin Expense | $3,236,966 |
| Net Contributions | $6,972,834 |
| Other Expense | $60,789,911 |
| Ending Balance | $1,624,010,463 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Of Fine Arts Houston Houston, TX | $2,157,086,703 | $163,632,909 |
Crystal Bridges Museum Of American Art Inc Bentonville, AR | $1,732,386,844 | $177,931,616 |
Dallas Museum Of Art Dallas, TX | $327,815,938 | $26,890,508 |
Menil Foundation Inc Houston, TX | $910,076,505 | $43,342,663 |
Amon Carter Museum Of Western Art Fort Worth, TX | $91,879,509 | $15,302,046 |
New Orleans Museum Of Art New Orleans, LA | $108,237,578 | $12,278,324 |
San Antonio Museum Of Art San Antonio, TX | $94,200,252 | $14,610,399 |
Nasher Sculpture Center Dallas, TX | $5,120,886 | $11,192,016 |
Mcnay Art Museum San Antonio, TX | $88,824,083 | $12,922,550 |
Philbrook Museum Of Art Inc Tulsa, OK | $69,878,004 | $10,854,241 |
Georgia Okeeffe Museum Santa Fe, NM | $164,315,725 | $8,795,076 |
Nasher Foundation 101796 Forney, TX | $126,332,669 | $7,023,937 |