Charles & Emma Frye Free Public Art Museum Inc Testamentary Trust
- Assets
- $68.0m
- Revenue
- $9.4m
- Investments
- $24.6m
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 05/1953
- Data as of
- 12/2021
- EIN
- 91-0659435
Organization Overview
Charles & Emma Frye Free Public Art Museum Inc Testamentary Trust is located in Seattle, WA. The organization was established in 1953. According to its NTEE Classification (A50) the organization is classified as: 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. Charles & Emma Frye Free Public Art Museum Inc Testamentary Trust 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, Charles & Emma Frye Free Public Art Museum Inc Testamentary Trust generated $9.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $8.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM OPERATES & ADMINISTERS A FREE PUBLIC ART MUSEUM. IN ADDITION TO THE DISPLAY OF THE ITEMS IN ITS PERMANENT COLLECTION, THE MUSEUM OFFERS MANY TEMPORARY EXHIBITS EACH YEAR THAT CONCENTRATE ON SPECIFIC ARTISTS OR THEMES. APPROXIMATELY 40,000 PEOPLE VIEW THESE EXHIBITIONS ANNUALLY SEE PART XV-B FOR MORE DETAILS.THE GIFT SHOP PROVIDES MERCHANDISE WHICH IS DIRECTLY RELATED TO THE EXHIBITIONS SHOWN AND THE CLASSES, LECTURES AND WORKSHOPS OFFERED THROUGHOUT THE YEAR TO ENHANCE VISITORS AND PARTICIPANTS' EXPERIENCES OF THE MUSEUM.
FREE & FEE-BASED CLASSES ARE PROVIDED TO ADULTS & CHILDREN ON TOPICS SUCH AS ART HISTORY, DRAWING AND SCULPTURE, AS WELL AS SUBJECTS SPECIFIC TO THE PERMANENT COLLECTION AND TEMPORARY EXHIBITIONS. THE MUSEUM PRESENTS LECTURES, WORKSHOPS AND GUIDED TOURS COVERING A VARIETY OF TOPICS.CLASSES AND LECTURES INCLUDE OUR "SMALL FRYE" SERIES FOR CHILDREN, MANY SCHOOL PROGRAMS INCLUDING THOSE ADMINISTERED THRU BAILEY GATZERT PUBLIC ELEMENTARY SCHOOL, AND PROGRAMS FOR SENIORS WITH COGNITIVE ISSUES, SUCH AS ALZHEIMER'S CAFE AND THE HERE:NOW SERIES. APPROXIMATELY 10,500 ADULTS AND CHILDREN PARTICIPATE IN THESE PROGRAMS ANNUALLY. SEE PART XV-B FOR MORE DETAILS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Potter President | 5 | $15,000 | |
Gail Goralski Vice President | 4 | $12,000 | |
Mike Doherty Vice President | 4 | $12,000 | |
Stuart Williams Vice President | 4 | $12,000 | |
James Miles Vice President | 4 | $12,000 | |
Jan Hendrickson Treasurer | 4 | $12,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bear Group Inc | 12/30/22 | $198,076 |
Mehrer Drywall Inc | 12/30/22 | $103,707 |
Russell Reynolds Associates Inc | 12/30/22 | $73,200 |
Zook & Oleson Gardening | 12/30/22 | $65,307 |
Holaday-parks Inc | 12/30/22 | $64,983 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $957,028 |
| Interest on Savings | $178 |
| Dividends & Interest | $737,944 |
| Net Rental Income | $4,041,001 |
| Net Gain on Sale of Assets | $349,379 |
| Capital Gain Net Income | $1,919,703 |
| Net ST Capital Gain | $159,155 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $68,979 |
| Other Income | $461,399 |
| Total Revenue | $9,421,562 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $575,421 |
| Other employee salaries and wages | $2,567,881 |
| Pension plans, employee benefits | $411,643 |
| Interest | $56,373 |
| Taxes | $261,855 |
| Depreciation | $1,335,434 |
| Occupancy | $1,986,410 |
| Travel, conferences, and meetings | $61,024 |
| Printing and publications | $79,662 |
| Other expenses | $948,097 |
| Total operating and administrative expenses | $8,740,449 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $8,740,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $658,401 |
| Savings and temporary cash investments | $1,414,679 |
| Net Accounts receivable | $715,508 |
| Net Pledges Receivable | $42,284 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $66,768 |
| Prepaid expenses and deferred charges | $2,497,056 |
| Net Investments - land, buildings, equipment | $25,078,807 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,588,361 |
| Net Land, buildings, and equipment | $12,792,409 |
| Other assets | $148,050 |
| Total assets | $67,990,835 |
| Accounts payable and accrued expenses | $498,814 |
| Grants payable | $0 |
| Deferred revenue | $179,754 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $2,371,055 |
| Other liabilities | $496,516 |
| Total liabilities | $3,546,139 |
Grants Awarded
Over the last fiscal year, Charles & Emma Frye Free Public Art Museum Inc Testamentary Trust has awarded $2,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARTIST TRUST PURPOSE: 2022 BENEFIT ART AUCTION | $1,500 |
NORTHWEST AFRICAN AMERICAN MUSEUM PURPOSE: NAAM AND UNITY BENEFIT GALA | $1,000 |