Foundation For The Arts
- Assets
- $33.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- dallas, TX
- Founding
- 06/1964
- Data as of
- 12/2021
- EIN
- 75-6036753
Organization Overview
Foundation For The Arts is located in dallas, TX. The organization was established in 1964. According to its NTEE Classification (A51) the organization is classified as: Art Museums, 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. Foundation For The Arts 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 12/2021, Foundation For The Arts generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $218.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ACQUIRE ART FOR THE DALLAS MUSEUM OF ART
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRE ART FOR THE DALLAS MUSEUM OF ART AND THE CITIZENS OF DALLAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Mcdermott Cook Vice President | OfficerTrustee | 0.1 | $0 |
Thomas Campbell Treasurer | OfficerTrustee | 0.2 | $0 |
Cullum Clark President | OfficerTrustee | 0.1 | $0 |
Allison Smith Secretary | OfficerTrustee | 0.1 | $0 |
George T Lee Jr Director | Trustee | 0.1 | $0 |
Dr William B Jordan Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $581,548 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,085,272 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,666,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,793 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $186,523 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,278 |
| All other expenses | $0 |
| Total functional expenses | $218,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $855,594 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,121 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $32,322,622 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,202,337 |
| Accounts payable and accrued expenses | $62,302 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $62,302 |
| Net assets without donor restrictions | $1,688,084 |
| Net assets with donor restrictions | $31,451,951 |
| 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 | $33,202,337 |
Endowment Analysis
| Beg. Balance | $1,204,288 |
| Earnings | $190,441 |
| Admin Expense | $1,333 |
| Ending Balance | $1,393,396 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Contemporary Austin Museum Inc Austin, TX | $24,172,925 | $7,689,663 |