Virginia Museum Of Animal Art
- Assets
- $2.2m
- Revenue
- $3.3m
- Investments
- $1.3m
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- Data as of
- 12/2022
- EIN
- 85-1403988
Organization Overview
Virginia Museum Of Animal Art is located in Charlottesville, VA. 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. Virginia Museum Of Animal Art is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, THE MUSEUM ENTERED INTO AN AGREEMENT WITH THE WILLIAM KING MUSEUM OF ART, A 501 (C)(3) ORGANIZATION IN ABINGDON, VIRGINIA, TO BUILD AN ADDITION TO THE WILLIAM KING MUSEUM OF ART TO HOUSE AND EXHIBIT THE COLLECTION OF WILDLIFE ART DISTRIBUTED TO THE VIRGINIA MUSEUM OF ANIMAL ART BY THE ANNE R WORRELL REVOCABLE TRUST. THE VIRGINIA MUSEUM OF ANIMAL ART WILL USE SOME OF THE $15 MILLION IN CASH ALSO TO BE DISTRIBUTED TO IT BY THE ANNE R WORRELL DECLARATION OF TRUST TO FINANCE THE CONSTRUCTION. THE DESIGN OF THE ADDITION IS CURRENTLY IN PROGRESS AND CONSTRUCTION IS ANTICIPATED TO START IN SPRING 2024.THE WILLIAM KING MUSEUM OF ANIMAL ART IS A PUBLICLY SUPPORTED OPERATING FOUNDATION THAT HAS BEEN IN OPERATION SINCE 1992. IT OFFERS PUBLIC EXHIBITIONS AND PROVIDES EDUCATIONAL SERVICES FOR CHILDREN AND ADULTS THROUGHOUT SOUTHWEST VIRGINIA.
THE ANNE R. WORRELL REVOCABLE TRUST DIRECTED THE TRUSTEES TO CREATE THE MUSEUM AND DIRECTED A DISTRIBUTION TO IT OF $15,000,000, AN ART COLLECTION APPRAISED AT APPROXIMATELY $9,000,000, AND A MUSEUM FACILITY. THE MUSEUM ALSO ANTICIPATES RECEIVING GRANTS FROM TIME TO TIME FROM THE GENAN FOUNDATION, A PRIVATE FOUNDATION ESTABLISHED AND FUNDED BY ANNE R. WORRELL BEFORE HER DEATH, WHICH HAS COMMON BOARD MEMBERSHIP WITH THE MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Shannon Worrell Secretary | 1 | $15,000 | |
Thomas E Worrell III Director | 1 | $11,000 | |
Andrew J Dracopoli President / Chief Executive Officer | 5 | $0 | |
Thomas S Word Jr Director | 1 | $0 | |
Phillip C Stone Chairman | 1 | $0 | |
Kathy K Foley Director | 2 | $11,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,003,950 |
| Interest on Savings | $170 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $336,200 |
| Capital Gain Net Income | $336,200 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,340,320 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $59,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $14,091 |
| Printing and publications | $0 |
| Other expenses | $1,738 |
| Total operating and administrative expenses | $113,309 |
| Contributions, gifts, grants paid | $1,105,939 |
| Total expenses and disbursements | $1,219,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,181 |
| Savings and temporary cash investments | $59,546 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $591,900 |
| Total assets | $2,196,174 |
| 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 |