Heard Museum
- Assets
- $36.4m
- Revenue
- $14.1m
- Investments
- $98.5k
- Employees
- 111
- Location
- Phoenix, AZ
- Founding
- 01/1936
- Data as of
- 09/2021
- EIN
- 86-0107517
Organization Overview
Heard Museum is located in Phoenix, AZ. The organization was established in 1936. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Heard Museum employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heard 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 09/2021, Heard Museum generated $14.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $7.9m during the year ending 09/2021. 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
TO BE THE WORLD'S PREEMINENT MUSEUM FOR THE PRESENTATION, INTERPRETATION AND ADVANCEMENT OF AMERICAN INDIAN ART, EMPHASIZING ITS INTERSECTION WITH BROADER ARTISTIC AND CULTURAL THEMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Roche Director And CEO | Officer | 40 | $307,787 |
John Bulla COO | Officer | 40 | $204,134 |
Daniel Hagerty Director Strategic Development | 40 | $162,307 | |
Carol Ford CFO (resigned 09/21) | Officer | 40 | $74,028 |
Karen Abraham Treasurer | OfficerTrustee | 4 | $0 |
John Lomax Vice Chair | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pro Em Llc Event Management Services | 9/29/21 | $129,348 |
Lane Terralever Advertising Agency And Services | 9/29/21 | $122,462 |
Neuberger Berman Investment Advisory Services | 9/29/21 | $104,073 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $843,781 |
| Related organizations | $45,610 |
| Government grants | $1,188,209 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,238,567 |
| Noncash contributions included in lines 1a–1f | $107,157 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,316,167 |
| Total Program Service Revenue | $1,591,557 |
| Investment income | $123,403 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $989 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $55,112 |
| Net Income from Fundraising Events | -$7,888 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,040,785 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,120,125 |
| 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. | $744,868 |
| Compensation of current officers, directors, key employees. | $317,255 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,443,770 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $257,956 |
| Payroll taxes | $228,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,670 |
| Fees for services: Accounting | $33,499 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,772 |
| Fees for services: Other | $515,702 |
| Advertising and promotion | $459,147 |
| Office expenses | $279,573 |
| Information technology | $127,965 |
| Royalties | $0 |
| Occupancy | $572,026 |
| Travel | $1,013 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,379 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,363,781 |
| Insurance | $135,966 |
| All other expenses | $0 |
| Total functional expenses | $7,875,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,482,287 |
| Savings and temporary cash investments | $5,436,893 |
| Pledges and grants receivable | $3,630,089 |
| Accounts receivable, net | $24,977 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,226,922 |
| Prepaid expenses and deferred charges | $140,838 |
| Net Land, buildings, and equipment | $13,088,505 |
| Investments—publicly traded securities | $8,312,974 |
| Investments—other securities | $98,524 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,442,009 |
| Accounts payable and accrued expenses | $626,149 |
| Grants payable | $0 |
| Deferred revenue | $1,873,415 |
| 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 | $916,123 |
| Unsecured mortgages and notes payable | $824,617 |
| Other liabilities | $92,988 |
| Total liabilities | $4,333,292 |
| Net assets without donor restrictions | $20,169,832 |
| Net assets with donor restrictions | $11,938,885 |
| 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 | $36,442,009 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Heard Museum has recieved totaling $2,400.
| Awarding Organization | Amount |
|---|---|
Michael And Carmen Duffek Foundation Inc Anthem, AZ PURPOSE: SUPPORT PROGRAMS | $2,000 |
Liddy Fam Foundation Tr Westport, CT PURPOSE: UNRESTRICTEDGRANT | $400 |
Endowment Analysis
| Beg. Balance | $9,576,141 |
| Earnings | $1,792,818 |
| Admin Expense | $126 |
| Other Expense | $336,604 |
| Ending Balance | $11,032,229 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uss Midway Museum San Diego, CA | $89,557,357 | $9,957,373 |
Lucas Museum Of Narrative Art Los Angeles, CA | $1,047,180,873 | $200,315,657 |
Musical Instrument Museum Phoenix, AZ | $166,967,307 | $47,583,205 |
Operation Underground Railroad Inc Anaheim, CA | $68,076,312 | $47,549,013 |
Discovery Science Center Of Orange County Santa Ana, CA | $60,809,996 | $26,194,294 |
Grammy Museum Foundation Inc Los Angeles, CA | $19,726,049 | $9,757,476 |
Japanese American National Museum Los Angeles, CA | $64,155,556 | $8,326,332 |
Mingei International Inc San Diego, CA | $66,923,986 | $7,226,145 |
Heard Museum Phoenix, AZ | $36,442,009 | $14,120,125 |
Turtle Bay Exploration Park Redding, CA | $48,250,618 | $8,223,185 |
Palm Springs Art Museum Palm Springs, CA | $40,212,131 | $11,070,079 |
300 Stewart Avenue Corporation Las Vegas, NV | $56,477,513 | $5,741,723 |