Art Bridges Inc
- Assets
- $867.9m
- Revenue
- $28.0m
- Investments
- $860.9m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 07/2016
- Data as of
- 09/2023
- EIN
- 81-0842855
Organization Overview
Art Bridges Inc is located in Fort Worth, TX. The organization was established in 2016. According to its NTEE Classification (A25) the organization is classified as: Arts Education, 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. Art Bridges 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 09/2023, Art Bridges Inc generated $28.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (47.1%) each year. All expenses for the organization totaled $396.9m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
ART BRIDGES ("AB") CREATES AND SUPPORTS PROGRAMS THAT EXPAND ACCESS TO AMERICAN ART IN ALL REGIONS ACROSS THE NATION. AB EXECUTES THIS MISSION BY ACQUIRING WORKS OF ART TO BE SHARED WITH REGIONAL MUSEUMS AS LONG-TERM LOANS, BY FORMING & SUPPORTING COLLECTION-BASED EXHIBITIONS OF AMERICAN ART THAT TRAVEL TO MUSEUMS OF ALL SIZES & BY DEVELOPING COLLABORATIVE PROGRAMS TO BRING WORKS OF ART OUT OF STORAGE & INTO COMMUNITIES. AB PROVIDES VARIOUS LEVELS OF FINANCIAL SUPPORT FOR THE DIRECT COSTS ASSOCIATED WITH THE LENDING OF THE AB COLLECTION, FOR TRAVELING EXHIBITIONS & FOR JOINT PROGRAMS FOR LONG-TERM LOANS & COLLECTION SHARING INITIATIVES. IN TANDEM WITH THESE PROGRAMS, AB PROVIDES SUPPORT FOR PROGRAMMING, AUDIENCE ENGAGEMENT & EDUCATION. AB PROVIDES FINANCIAL SUPPORT TO PARTNER INSTITUTIONS TO HELP DEEPEN THEIR CONNECTION WITH THEIR LOCAL COMMUNITIES & TO CONNECT INSTITUTIONS OF VARYING SIZES & SCOPES IN JOINT PARTNERSHIPS THAT PROVIDE OPPORTUNITIES FOR PROFESSIONAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director, President | 5 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alliance Support Co Llc | 9/29/23 | $1,424,401 |
Walton Enterprises Llc | 9/29/23 | $775,948 |
General Atlantic Service Company | 9/29/23 | $327,617 |
Clay Global Llc | 9/29/23 | $488,550 |
Walter Scott & Partners Limited | 9/29/23 | $306,880 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $22,290,064 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,021,109 |
| Capital Gain Net Income | $5,965,082 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$297,480 |
| Total Revenue | $28,013,693 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $599,969 |
| Other employee salaries and wages | $1,906,875 |
| Pension plans, employee benefits | $455,268 |
| Interest | $395,228 |
| Taxes | $1,260,636 |
| Depreciation | $122,886 |
| Occupancy | $86,363 |
| Travel, conferences, and meetings | $230,358 |
| Printing and publications | $3,186 |
| Other expenses | $108,008,959 |
| Total operating and administrative expenses | $118,212,196 |
| Contributions, gifts, grants paid | $278,696,414 |
| Total expenses and disbursements | $396,908,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,257,852 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $108,934 |
| 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 | $860,899,813 |
| Net Land, buildings, and equipment | $609,206 |
| Other assets | $0 |
| Total assets | $867,875,805 |
| 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 |
Grants Awarded
Over the last fiscal year, Art Bridges Inc has awarded $278,696,414 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALICE L WALTON SCHOOL OF MEDICINE PURPOSE: TO EXPLORE, RESEARCH, DEVELOP, AND IMPLEMENT PROGRAMS USING ART AS A TOOL FOR LEARNING. | $248,696,414 |
CRYSTAL BRIDGES MUSEUM OF AMERICAN ART INC PURPOSE: TO CONSTRUCT AND IMPROVE FACILITIES TO EXHIBIT ART FOR THE PUBLIC'S EDUCATION AND BENEFIT. | $30,000,000 |