Fort Worth Art Association

Organization Overview

Fort Worth Art Association is located in Fort Worth, TX. The organization was established in 1940. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Fort Worth Art Association employed 126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth Art Association 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, Fort Worth Art Association generated $16.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $12.5m during the year ending 06/2022. While expenses have increased by 0.1% 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.

Since 2016, Fort Worth Art Association has awarded 12 individual grants totaling $4,986,866. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE FORT WORTH ART ASSOCATION, A TEXAS NON-PROFIT CORPORATION, WAS ESTABLISHED TO ACQUIRE A COLLECTION OF WORKS OF MODERN ART OF THE HIGHEST QUALITY AND TO PROMULGATE AND MAINTAIN A PROGRAM OF ART ACTIVITIES AND ART EDUCATION IN FORT WORTH, TEXAS, FOR PUBLIC USE AND BENEFIT. THE ASSOCIATION STRIVES TO PROVIDE EDUCATIONAL ENJOYMENT IN MODERN ART, TO PRESERVE THE ART HOLDINGS OF THE ASSOCIATION AND TO CREATE PUBLIC APPRECIATION FOR SUCH ART BY ITS APPROPRIATE DISPLAY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FORT WORTH ART ASSOCIATION WAS ESTABLISHED TO ACQUIRE A COLLECTION OF WORKS OF MODERN ART OF THE HIGHEST QUALITY AND TO PROMULGATE AND MAINTAIN A PROGRAM OF ART ACTIVITIES AND ART EDUCATION IN FORT WORTH, TEXAS, FOR PUBLIC USE AND BENEFIT.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Philadelphia Museum Of Art
Exhibition
$625,350
Brian Butler - Dba 1301 Pe Llc
Art Purchases
$560,000
Sperone Westwater Gallery Llc
Art Purchases
$775,000
David Lewis Gallery Llc (David03)
Art Purchases
$480,000
Christmas Company
Tree Lighting
$270,265
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$1,097,385
Fundraising events$0
Related organizations$5,594,683
Government grants $1,005,331
All other contributions, gifts, grants, and similar amounts not included above$3,177,835
Noncash contributions included in lines 1a–1f $425,000
Total Revenue from Contributions, Gifts, Grants & Similar$10,875,234
Total Program Service Revenue$447,284
Investment income $5,074,258
Tax Exempt Bond Proceeds $0
Royalties $5,522
Net Rental Income $9,513
Net Gain/Loss on Asset Sales $70,000
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $195,565
Miscellaneous Revenue$0
Total Revenue $16,694,058

Grants Awarded

Over the last fiscal year, Fort Worth Art Association has awarded $3,130,000 in support to 2 organizations.

Grant RecipientAmount

FORT WORTH ART ASSOCIATION ENDOWMENT FOUNDATION

Org PageRecipient Profile

Fort Worth, TX

PURPOSE: GENERAL OPERATIONS

$3,010,000

FORT WORTH MODERN ART MUSEUM ASSOCIATION

Org PageRecipient Profile

Fort Worth, TX

PURPOSE: GENERAL OPERATIONS

$120,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Fort Worth Art Association has recieved totaling $4,313,743.

Awarding OrganizationAmount
Jewel Nail Bomar Trust 8336230300

Chicago, IL

PURPOSE: GENERAL

$3,642,099
Burnett Foundation

Fort Worth, TX

PURPOSE: GENERAL SUPPORT

$600,000
Helen Frankenthaler Foundation Inc

New York, NY

PURPOSE: FCI 2021 GRANT: MODERN ART MUSEUM FORT WORTH

$49,800
Communities Foundation Of Texas

Dallas, TX

PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT.

$11,344
Ben E Keith Foundation Trust

Chicago, IL

PURPOSE: GENERAL

$10,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$66,362,173
Earnings-$8,218,524
Net Contributions$96,483
Other Expense$13,872
Ending Balance$58,226,260

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