Museum Of Russian Art
- Assets
- $5.8m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 17
- Location
- Minneapolis, MN
- Founding
- 12/2002
- Data as of
- 12/2020
- EIN
- 75-3044344
Organization Overview
Museum Of Russian Art is located in Minneapolis, MN. The organization was established in 2002. 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 12/2021, Museum Of Russian Art employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Russian Art 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 12/2020, Museum Of Russian Art generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION, ENLIGHTENMENT, AND ENGAGEMENT THROUGH THE ART OF RUSSIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS - THERE WERE 15 EXHIBITIONS IN TMORA'S GALLERIES IN 2021, WHICH WERE VIEWED BY 19,558 VISITORS. TMORA PRESENTED 11 PROGRAMS IN-HOUSE, WITH THE AUDIENCE TOTALING 875. THE MUSEUM PRESENTED 12 VIRTUAL PROGRAMS, WITH ATTENDANCE OF 644, AND CO-SPONSORED AN ADDITIONAL 8 VIRTUAL PROGRAMS, WHICH ATTRACTED 1,031 PARTICIPANTS. ADDITIONALLY, 24 VIRTUAL OUTREACH EDUCATION PROGRAMS WERE PRESENTED TO AN AUDIENCE TOTALING 888, AND TWO SEMESTERS OF RUSSIAN LANGUAGE CLASSES TOOK PLACE VIRTUALLY, WITH 35-40 STUDENTS IN EACH SESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark J Meister Executive Director & Presi | Officer | 40 | $123,196 |
Kathy Bracken Secretary | OfficerTrustee | 2 | $0 |
Mark Downey Treasurer | OfficerTrustee | 2 | $0 |
Liz Petrangelo Chair | OfficerTrustee | 2 | $0 |
Reggie Boyle Vice-Chair | OfficerTrustee | 2 | $0 |
Chuck Ritchie Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,947,052 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,111 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $20,877 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $30,066 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,095,024 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,774 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $298,529 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $48,035 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,434 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,408 |
| Advertising and promotion | $0 |
| Office expenses | $14,189 |
| Information technology | $15,755 |
| Royalties | $0 |
| Occupancy | $12,205 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,265 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,465 |
| Insurance | $39,907 |
| All other expenses | $0 |
| Total functional expenses | $1,122,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,079 |
| Savings and temporary cash investments | $1,208,323 |
| Pledges and grants receivable | $48,980 |
| Accounts receivable, net | $3,250 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $81,769 |
| Prepaid expenses and deferred charges | $28,556 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,847,264 |
| Accounts payable and accrued expenses | $75,427 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,279,128 |
| Unsecured mortgages and notes payable | $250,000 |
| Other liabilities | $0 |
| Total liabilities | $1,604,555 |
| 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 | $4,242,709 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Museum Of Russian Art has recieved totaling $85.
| Awarding Organization | Amount |
|---|---|
Advent Angels In My Hair Inc Monticello, MN PURPOSE: ARTS | $85 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Art Museum Inc Milwaukee, WI | $162,007,595 | $17,721,477 |
Edmundson Art Foundation Inc Des Moines, IA | $123,873,821 | $5,221,950 |
Madison Museum Of Contemporary Art Inc Madison, WI | $15,382,994 | $2,302,239 |
Minnesota Museum Of American Art Saint Paul, MN | $9,032,036 | $1,499,963 |
Plains Art Museum Fargo, ND | $10,649,612 | $3,114,280 |
Paine Art Center & Gardens Inc Oshkosh, WI | $23,894,891 | $2,871,435 |
Racine Art Museum Association Inc Racine, WI | $13,099,169 | $1,971,714 |
Cedar Rapids Museum Of Art Cedar Rapids, IA | $10,975,724 | $1,897,118 |
River Music Experience Davenport, IA | $3,858,577 | $1,649,242 |
Museum Of Russian Art Minneapolis, MN | $5,847,264 | $2,095,024 |
Bergstrom-Mahler Museum Inc Neenah, WI | $17,360,409 | $1,558,977 |
North Dakota Museum Of Art Grand Forks, ND | $7,446,530 | $2,052,250 |