Kimbell Art Foundation
- Assets
- $668.1m
- Revenue
- $22.2m
- Investments
- $180.2m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 11/1998
- Data as of
- 12/2020
- EIN
- 75-6036226
Organization Overview
Kimbell Art Foundation is located in Fort Worth, TX. The organization was established in 1998. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is the central organization for a national or regional group of organizations. Kimbell Art Foundation 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, Kimbell Art Foundation generated $22.2m 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 (10.4%) each year. All expenses for the organization totaled $43.9m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Kimbell Art Foundation has awarded 46 individual grants totaling $2,150,693. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
(SEE STATEMENT)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric M Lee Museum Director | 35 | $623,900 | |
George Tm Shackelford Deputy Director | 35 | $397,876 | |
Name Not Listed Director | 3 | $0 | |
Mark K Rich Dir. Of Investments | 35 | $220,000 | |
Larry D Eubank Operations Manager | 35 | $188,200 | |
Robert Mcan Donor Relations Head | 35 | $170,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kelly Hart & Hallman Llp | 12/30/21 | $136,043 |
Taylor Companies Royalty Holdings Ii Llc | 12/30/21 | $112,000 |
Luther King Capital Management | 12/30/21 | $109,937 |
Loomis Sayles | 12/30/21 | $97,006 |
Northern Trust | 12/30/21 | $103,444 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,262,179 |
| Interest on Savings | $66,231 |
| Dividends & Interest | $622,170 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,591,018 |
| Capital Gain Net Income | $2,515,551 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $183,857 |
| Other Income | $17,483,441 |
| Total Revenue | $22,208,896 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $645,800 |
| Other employee salaries and wages | $7,495,590 |
| Pension plans, employee benefits | $1,701,352 |
| Interest | $1,954,973 |
| Taxes | $946,019 |
| Depreciation | $23,295,679 |
| Occupancy | $550,164 |
| Travel, conferences, and meetings | $39,130 |
| Printing and publications | $5,523 |
| Other expenses | $6,008,645 |
| Total operating and administrative expenses | $43,721,056 |
| Contributions, gifts, grants paid | $217,500 |
| Total expenses and disbursements | $43,938,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,884,078 |
| Savings and temporary cash investments | $2,309,486 |
| Net Accounts receivable | $2,577 |
| 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 | $810,600 |
| Prepaid expenses and deferred charges | $372,895 |
| Net Investments - land, buildings, equipment | $102,238 |
| Investments—mortgage loans | $0 |
| Investments—other | $142,301,372 |
| Net Land, buildings, and equipment | $138,844,448 |
| Other assets | $343,501,154 |
| Total assets | $668,076,057 |
| Accounts payable and accrued expenses | $99,718 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $4,300,000 |
| Other liabilities | $58,611,903 |
| Total liabilities | $63,011,621 |
Grants Awarded
Over the last fiscal year, Kimbell Art Foundation has awarded $209,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AMON CARTER MUSEUM OF AMERICAN ART PURPOSE: CAPITAL CAMPAIGN | $200,000 |
FORT WORTH SYMPHONY ORCHESTRA PURPOSE: OPERATING SUPPORT | $4,000 |
Austin, TX PURPOSE: OPERATING SUPPORT | $2,500 |
Fort Worth, TX PURPOSE: OPERATING SUPPORT | $1,500 |
Aspen, CO PURPOSE: OPERATING SUPPORT | $1,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kimbell Art Foundation has recieved totaling $236,000.
| Awarding Organization | Amount |
|---|---|
Burnett Foundation Fort Worth, TX PURPOSE: GENERAL SUPPORT | $235,000 |
Edgemon Family Foundation Dallas, TX PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kimbell Art Foundation Fort Worth, TX | $668,076,057 | $22,208,896 |
Fort Worth Art Association Fort Worth, TX | $70,573,501 | $16,694,058 |
Health Education Learning Project H E L P Fort Worth, TX | $21,809,617 | $21,715,181 |
Texas Advocacy Project Inc Austin, TX | $1,606,192 | $3,119,683 |
Efforts Of Grace Inc New Orleans, LA | $9,750,115 | $6,712,838 |
South Texas Institute For The Arts Corpus Christi, TX | $11,651,943 | $2,742,109 |
Society For Neuro-Oncology Houston, TX | $6,909,260 | $3,914,434 |
Gdiacc Foundation Inc Dallas, TX | $106,516 | $2,129,759 |
Love Station Inc Ponca City, OK | $4,976,987 | $2,048,106 |
Sea Turtle Inc South Padre Island, TX | $11,651,431 | $4,419,765 |
The Walls Project Baton Rouge, LA | $407,630 | $1,770,639 |
Match Midtown Arts & Theater Center Houston Houston, TX | $20,886,964 | $758,825 |