Eugene And Margaret Medermott Art Fund Inc
- Assets
- $276.0m
- Revenue
- $1.6m
- Investments
- $26.8m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 02/1995
- Data as of
- 05/2022
- EIN
- 75-2567893
Organization Overview
Eugene And Margaret Medermott Art Fund Inc is located in Dallas, TX. The organization was established in 1995. According to its NTEE Classification (A90) the organization is classified as: Arts Services, 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. Eugene And Margaret Medermott Art Fund 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 05/2022, Eugene And Margaret Medermott Art Fund Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $33.2k during the year ending 05/2022. While expenses have increased by 9.8% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUISITION AND DISPLAY OF ART OBJECTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Schatzie Lee Director | 0.5 | $0 | |
Mary M Cook Chairman & Dir | 0.5 | $0 | |
Grace Cook Director | 0.5 | $0 | |
Patricia J Brown Sectreas & Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $674,248 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $916,991 |
| Capital Gain Net Income | $916,991 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $123 |
| Total Revenue | $1,591,364 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,450 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $33,188 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $33,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,112,154 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $248,074,470 |
| Total assets | $275,981,973 |
| 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communities In Schools Of Cameron County San Benito, TX | $1,863,652 | $2,355,604 |
Roswell Artist In Residents Foundation Roswell, NM | $13,096,282 | $950,709 |
House Of Songs Alliance Bentonville, AR | $172,768 | $676,339 |
Fort Smith Music And Arts Festival Inc Fort Smith, AR | $488,414 | $698,820 |
Atheist Community Of Austin Inc Austin, TX | $1,074,838 | $657,910 |
River Oaks Square Arts Center Association Inc Alexandria, LA | $688,898 | $352,043 |
Humanities Amped Baton Rouge, LA | $131,711 | $303,671 |
Vital Spaces Inc Santa Fe, NM | $112,781 | $234,664 |
Untitled Art Space Inc Oklahoma City, OK | $377,472 | $415,421 |
Allen Arts Alliance Allen, TX | $261,270 | $0 |
Community Artists Collective Houston, TX | $261,932 | $340,282 |
Texas Accountants & Lawyers For The Arts Austin, TX | $196,713 | $244,676 |