Aspen Art Museum
- Assets
- $42.0m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 114
- Location
- Aspen, CO
- Founding
- 04/1978
- Data as of
- 09/2023
- EIN
- 84-0746671
Organization Overview
Aspen Art Museum is located in Aspen, CO. The organization was established in 1978. 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 09/2023, Aspen Art Museum employed 114 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aspen Art Museum 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, Aspen Art Museum generated $11.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $11.1m during the year ending 09/2023. While expenses have increased by 2.9% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRESENTING THE NEWEST, MOST IMPORTANT EVOLUTIONS IN INTERNATIONAL, CONTEMPORARY ART
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY GOAL OF THE ASPEN ART MUSEUM (AAM) IS TO BE A COMMUNITY RESOURCE FOR THE APPRECIATION, EDUCATION, AND DISCUSSION OF CONTEMPORARY ART. AAM EXHIBITIONS CAN BE SUMMARIZED AS FALLING INTO THREE GENERAL CATEGORIES: FIRST-TIME U.S. MUSEUM EXHIBITIONS BY SIGNIFICANT EMERGING CONTEMPORARY ARTISTS FROM AROUND THE GLOBE; SOLO EXHIBITIONS BY IMPORTANT OR ESTABLISHED CONTEMPORARY ARTISTS THAT FOCUS ON NEW, UNRECOGNIZED, OR UNDERAPPRECIATED ASPECTS OF THEIR WORK; GROUP EXHIBITIONS CURATED TO ADDRESS PRESCIENT OR TOPICAL CONTEMPORARY CULTURAL, SOCIAL, OR POLITICAL SUBJECT MATTER, OR OTHERWISE CORRESPONDING TO AN ORGANIZING CURATORIAL THEME. THE AAM IS COMMITTED TO PROVIDING EXHIBITION AND EDUCATIONAL PROGRAMMING ON A YEAR-ROUND BASIS FOR VISITORS TO THE ROARING FORK VALLEY AND SURROUNDING COLORADO COMMUNITIES.
THE AAM STRIVES TO MAKE CONTEMPORARY ART MEANINGFUL TO A WIDE ARRAY OF AUDIENCES THROUGH INTERPRETIVE PROJECTS AND DIVERSE, COMMUNITY-BASED PROGRAMMING. THESE OBJECT-BASED LEARNING OPPORTUNITIES ARE DESIGNED TO ENGAGE AUDIENCES IN THOUGHT-PROVOKING EXPERIENCES OF ART, CULTURE, AND SOCIETY, THUS REFLECTING OUR INSTITUTIONAL MISSION. PROGRAMS OCCUR BOTH IN THE MUSEUM AND THROUGHOUT THE COMMUNITY, AND PROVIDE THE OPPORTUNITY FOR AUDIENCES TO SEE AND RESPOND TO CONTEMPORARY ART THROUGH HANDS-ON WORKSHOPS, GALLERY TALKS, AND TOURS, LECTURES, AND INNOVATIVE ACTIVITIES RELATED TO CURRENT EXHIBITIONS. IN THE 2022-2023 FISCAL YEAR, THE AAM SERVED 7,416 STUDENTS AND TEACHERS THROUGH SCHOOL TOURS AND CLASSROOM VISITS, YOUTH, FAMILY, AND TEEN PROGRAMS, COMMUNITY PROGRAMS, AND TOURS. THE MUSEUM REACHED A TOTAL OF 51,650 PEOPLE IN FISCAL YEAR 2023.
AUXILIARY SERVICES INCLUDING THE MUSEUM SHOP AND CAFE. THE MUSEUM SHOP OFFERS A VARIETY OF CONTEMPORARY ART BOOKS, FOCUSING ON CONTEMPORARY ARTISTS, GROUP EXHIBITIONS AT OTHER RENOWNED INSTITUTIONS, AND ART HISTORY PUBLICATIONS. ADDITIONALLY, THE SHOP OFFERS CHILDREN'S BOOKS, CREATIVE ACTIVITIES, AND THOUGHTFULLY CURATED GIFT ITEMS RELATED TO CURRENT EXHIBITIONS, WHICH ENGAGE AUDIENCES IN THOUGHT PROVOKING EXPERIENCES OF ART, CULTURE, AND SOCIETY. THE ROOFTOP CAFE, WITH A SCENIC VIEW OF ASPEN MOUNTAIN, PROVIDES A UNIQUE DINING EXPERIENCE WITH FARM-TO-FORK MENU OPTIONS AS WELL AS AN OUTDOOR LOUNGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Phelan Chair | OfficerTrustee | 4 | $0 |
Melony Lewis Co-President | OfficerTrustee | 4 | $0 |
Amnon Rodan Co-President | OfficerTrustee | 4 | $0 |
Mary Scanlan Secretary | OfficerTrustee | 4 | $0 |
Sarah Arison Trustee | Trustee | 2 | $0 |
Barbara Bluhm-Kaul Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bethel Party Rentals Inc Event Rentals & Artcrush Tent | 9/29/23 | $314,697 |
Masterpiece International Shipping - Warhol Exhibition & Kilgallen | 9/29/23 | $301,020 |
Tolin Mechanical Hvac For Building & Controls Upgrade | 9/29/23 | $286,110 |
Pink Monkey Solutions Dcor & Design - Artcrush 2022 | 9/29/23 | $193,015 |
Aspen Skiing Company Catering Catering - Artcrush 2022 | 9/29/23 | $169,191 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $240,610 |
| Fundraising events | $2,832,065 |
| Related organizations | $1,628,000 |
| Government grants | $80,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,775,435 |
| Noncash contributions included in lines 1a–1f | $730,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,556,110 |
| Total Program Service Revenue | $56,101 |
| Investment income | $2,105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $386,660 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $787,830 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $351,860 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,140,666 |
| 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. | $865,936 |
| Compensation of current officers, directors, key employees. | $82,662 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,062,839 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $473,129 |
| Payroll taxes | $283,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,690,260 |
| Advertising and promotion | $35,636 |
| Office expenses | $59,378 |
| Information technology | $291,047 |
| Royalties | $0 |
| Occupancy | $125,750 |
| Travel | $615,410 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $133,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,083,302 |
| Insurance | $0 |
| All other expenses | $86,331 |
| Total functional expenses | $11,133,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2 |
| Savings and temporary cash investments | $3,037,906 |
| Pledges and grants receivable | $215,895 |
| Accounts receivable, net | $742,834 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $378,713 |
| Prepaid expenses and deferred charges | $175,003 |
| Net Land, buildings, and equipment | $36,154,209 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,334,083 |
| Total assets | $42,038,641 |
| Accounts payable and accrued expenses | $505,329 |
| Grants payable | $0 |
| Deferred revenue | $246,332 |
| Tax-exempt bond liabilities | $1,962,324 |
| 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 | $89,906 |
| Total liabilities | $2,803,891 |
| Net assets without donor restrictions | $39,096,750 |
| Net assets with donor restrictions | $138,000 |
| 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 | $42,038,641 |