Tacoma Art Museum Tacoma Wa
- Assets
- $74.3m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 73
- Location
- Tacoma, WA
- Founding
- 11/1964
- Data as of
- 06/2021
- EIN
- 91-0697444
Organization Overview
Tacoma Art Museum Tacoma Wa is located in Tacoma, WA. The organization was established in 1964. 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 06/2021, Tacoma Art Museum Tacoma WA employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tacoma Art Museum Tacoma WA 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 06/2021, Tacoma Art Museum Tacoma WA generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $5.1m during the year ending 06/2021. 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
TACOMA ART MUSEUM TRANSFORMS OUR COMMUNITIES BY SHARING ART THAT INSPIRES BROADER PERSPECTIVES AND CULTIVATES A COMPASSIONATE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FISCAL YEAR 21, TACOMA ART MUSEUM REMAINED CLOSED TO THE GENERAL PUBLIC DUE TO THE COVID-19 PANDEMIC. DURING THE CLOSURE WE FOCUSED ON CREATING ONLINE TOURS AND VIRTUAL WALK-THROUGHS OF SEVERAL EXHIBITIONS TO KEEP VISITORS ENGAGED INCLUDING "FORGOTTEN STORIES: NORTHWEST PUBLIC ART OF THE 1930'S," "AUDUBON/RYAN," AND "NATIVE PORTRAITURE: POWER AND PERCEPTION." CONTINUING OUR INITIATIVE TO MAKE THE MUSEUM'S COLLECTION ACCESSIBLE TO THE PUBLIC BEYOND THE GALLERIES, ANOTHER 1,000 OBJECTS WERE ADDED TO THE MUSEUM'S ONLINE COLLECTION DATABASE, EMUSEUM, INCLUDING BIOGRAPHICAL INFORMATION ON THE ARTISTS AND ONLINE PORTFOLIOS WERE CREATED FOR EXHIBITIONS ON VIEW AS WELL AS FOR CURRICULUM USES.
MUSEUM SERVICES INCLUDES THE TAM STORE, TAM CAFE, AND VISITOR SERVICES. THE STORE FEATURES LOCAL ARTIST DESIGNED JEWELRY, CERAMICS, AND BOOKS BY LOCAL AUTHORS AND THAT REFLECT CURRENT EXHIBITIONS. TAM CAFE OFFERS FRESHLY MADE ENTREES AND FEATURES LOCALLY CRAFTED BEER AND WINE. TAM RENTS MUSEUM FACILITIES INCLUDING LOCAL BUSINESS GROUP MEETINGS, COMMUNITY SERVICE ORGANIZATIONS, EXHIBITION OPENINGS, AND PRIVATE EVENTS. IN FY21, THE MUSEUM WAS LARGELY CLOSED TO THE PUBLIC DUE TO THE PANDEMIC. IN FISCAL YEAR 21, TAM HOSTED NO RENTAL EVENTS AND LARGELY MOVED TO AN ONLINE MUSEUM STORE FOCUS.
TAM'S EDUCATION PROGRAM EMPOWERS VISITORS TO FIND AND CREATE MEANING WITH ART IN ORDER TO BUILD AN EMPATHETIC AND COLLABORATIVE COMMUNITY THROUGH PROGRAMS AND TOURS, IN-GALLERY ACTIVITIES AND AUDIO TOURS, ART WORKSHOPS, AND CREATIVE OPPORTUNITIES. DUE TO THE CANCELLATION OF IN PERSON EVENTS BECAUSE OF THE PANDEMIC, TAM'S EDUCATION PROGRAMMING FOCUSED ON ONLINE PROGRAMMING. IN FY21, 245 PREK-5TH GRADE STUDENTS ATTENDED VIRTUAL MUSEUM FIELD TRIPS THIS YEAR. TAM'S POPULAR "HOMESCHOOL DAY" WENT ONLINE AS A 40 MINUTE VIRTUAL TOUR WITH ART-MAKING KITS, ACTIVITY BOOKLETS, AND MATERIALS PROVIDED TO PARTICIPANTS. FINALLY, "TAM AT HOME" ACTED AS THE MUSEUM'S PRIMARY PLATFORM FOR VIRTUAL PROGRAMMING, INCLUDING HANDS ON ART-MAKING PROJECTS, VIRTUAL COLLECTION VISITS, AND VIRTUAL GALLERY TOURS. IN FISCAL YEAR 21, THE MUSEUM SAW 540,000 WEB PAGE VIEWS AND 200,000 UNIQUE USERS PARTICIPATING ON OUR VIRTUAL PLATFORM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Setford Executive Director | Officer | 40 | $195,665 |
Jonathans Smith Director Of Finance | Officer | 40 | $104,414 |
Connie Willis Board President | OfficerTrustee | 2 | $0 |
Pamela Transue Second Vice President | OfficerTrustee | 2 | $0 |
Lisa Quigg Secretary | OfficerTrustee | 2 | $0 |
Tina Orr-Cahall Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $113,070 |
| Fundraising events | $140,266 |
| Related organizations | $0 |
| Government grants | $996,453 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,988,608 |
| Noncash contributions included in lines 1a–1f | $29,158 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,238,397 |
| Total Program Service Revenue | $65,481 |
| Investment income | $681,307 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $967,565 |
| Net Income from Fundraising Events | $85,451 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$59,928 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,980,313 |
| 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. | $336,741 |
| Compensation of current officers, directors, key employees. | $74,542 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,588,976 |
| Pension plan accruals and contributions | $10,675 |
| Other employee benefits | $176,114 |
| Payroll taxes | $187,899 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,712 |
| Fees for services: Accounting | $26,487 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $147,000 |
| Fees for services: Investment Management | $82,512 |
| Fees for services: Other | $178,822 |
| Advertising and promotion | $58,440 |
| Office expenses | $250,391 |
| Information technology | $117,123 |
| Royalties | $0 |
| Occupancy | $375,452 |
| Travel | $9,413 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $73,536 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,339,674 |
| Insurance | $43,679 |
| All other expenses | $0 |
| Total functional expenses | $5,125,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,297,378 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $788,970 |
| Accounts receivable, net | $26,358 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $287,995 |
| Prepaid expenses and deferred charges | $283,211 |
| Net Land, buildings, and equipment | $35,152,919 |
| Investments—publicly traded securities | $35,062,790 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,433,627 |
| Total assets | $74,333,248 |
| Accounts payable and accrued expenses | $128,282 |
| Grants payable | $0 |
| Deferred revenue | $3,227 |
| 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 | $6,650,000 |
| Unsecured mortgages and notes payable | $519,982 |
| Other liabilities | $0 |
| Total liabilities | $7,301,491 |
| Net assets without donor restrictions | $41,889,049 |
| Net assets with donor restrictions | $25,142,708 |
| 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 | $74,333,248 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Tacoma Art Museum Tacoma Wa has recieved totaling $173,290.
| Awarding Organization | Amount |
|---|---|
L T Murray Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $75,000 |
Greater Tacoma Community Foundation Tacoma, WA PURPOSE: OPERATING SUPPORT, PROGRAM SUPPORT | $52,990 |
Schools Out Washington Seattle, WA PURPOSE: Washington Youth Development Nonprofit Relief Fund | $30,000 |
Adirondack Foundation Lake Placid, NY PURPOSE: FOR UNRESTRICTED SUPPORT AND IN MEMORY OF WENDY STERLING GRIFFIN | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $5,300 |
Endowment Analysis
| Beg. Balance | $29,145,908 |
| Earnings | $7,406,797 |
| Admin Expense | $82,512 |
| Other Expense | $1,476,532 |
| Ending Balance | $34,993,661 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Nordic Museum SeattlE, WA | $49,217,466 | $3,740,373 |
Tacoma Art Museum Tacoma Wa Tacoma, WA | $74,333,248 | $4,980,313 |
Museum Of Glass Tacoma, WA | $27,774,581 | $3,274,139 |
The Bellevue Art Museum Bellevue, WA | $20,455,455 | $2,226,948 |
Maryhill Museum Of Art Goldendale, WA | $14,259,596 | $1,339,559 |
Boise Art Museum Incorporated Boise, ID | $4,916,476 | $1,848,103 |
Mobius Spokane Spokane, WA | $1,874,613 | $1,221,461 |
Museum Of Northwest Art La Conner, WA | $1,660,122 | $989,846 |
Favell Museum Inc Klamath Falls, OR | $5,553,246 | $284,368 |
Larson Gallery Guild Yakima, WA | $1,279,801 | $236,672 |
Clymer Foundation Ellensburg, WA | $3,977,007 | $242,623 |
Coos Art Museum Coos Bay, OR | $841,559 | $351,784 |