Tacoma Art Museum Tacoma Wa
- Assets
- $66.2m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 86
- Location
- Tacoma, WA
- Founding
- 11/1964
- Data as of
- 06/2022
- 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 06/2022, Tacoma Art Museum Tacoma WA employed 86 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 06/2022, Tacoma Art Museum Tacoma WA generated $8.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $7.0m during the year ending 06/2022. While expenses have increased by 7.2% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TACOMA ART MUSEUM'S MISSION IS TO TRANSFORM OUR COMMUNITIES BY SHARING ART THAT INSPIRES BROADER, PERSPECTIVES. TAM SERVES OUR COMMUNITY THROUGH OUR COLLECTIONS, DYNAMIC EXHIBITION PROGRAMMING, AND EDUCATION PROGRAMMING, INCLUDING FREE COMMUNITY FESTIVALS AND PUBLIC TALKS AND LECTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THIS FISCAL YEAR ENDING JUNE 30, 2022, TAM COMPLETELY REOPENED AFTER BEING CLOSED DUE TO COVID-19 DURING THE PRIOR FISCAL YEAR. THIS INCLUDED MULTIPLE EXHIBITIONS USING TAM'S OWN ART COLLECTION AND OTHER SHOWS CONTRACTED FOR FROM OUTSIDE SOURCES. OF PARTICULAR NOTE WAS THE KINSEY AFRICAN AMERICAN ART & HISTORY EXHIBIT WHICH CELEBRATED THE ACHIEVEMENTS AND CONTRIBUTIONS OF BLACK AMERICANS FROM 1595 TO PRESENT TIMES.
MARKETING
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 REFLECT CURRENT EXHIBITIONS. TAM CAFE OFFERS FRESHLY MADE ENTREES AND FEATURES LOCALLY CRAFTED BEER AND WINE. TAM RENTS MUSEUM FACILITIES INCLUDING LOCAL BUSINESS GROUP MEETING, COMMUNITY SERVICE ORGANIZATIONS, EXHIBITION OPENINGS, AND PRIVATE EVENTS.
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. DURING ONE OF TAM'S MOST POPULAR PROGRAMS, NEIGHBORHOOD NIGHTS, THE MUSEUM IS FREE AND OPEN TO THE PUBLIC EVERY THURSDAY FROM 5-8PM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Williams President | OfficerTrustee | 2 | $0 |
Pamela Transue Vice President | OfficerTrustee | 2 | $0 |
Dona Ponepinto Vice President | OfficerTrustee | 2 | $0 |
Jacqueline Justice Secretary | OfficerTrustee | 2 | $0 |
Tina Orr-Cahall Treasurer | OfficerTrustee | 2 | $0 |
Connie Willis Past President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kbk Enterprises Exhibition Fees | 6/29/22 | $215,061 |
Alford Group Fundraising Consultant | 6/29/22 | $162,529 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $97,527 |
| Fundraising events | $84,840 |
| Related organizations | $0 |
| Government grants | $893,182 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,500,433 |
| Noncash contributions included in lines 1a–1f | $88,369 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,575,982 |
| Total Program Service Revenue | $208,165 |
| Investment income | $518,495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,507,127 |
| Net Income from Fundraising Events | $70,488 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $228,405 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,108,662 |
| 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. | $451,181 |
| Compensation of current officers, directors, key employees. | $140,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,101,373 |
| Pension plan accruals and contributions | $16,250 |
| Other employee benefits | $208,369 |
| Payroll taxes | $256,322 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,562 |
| Fees for services: Accounting | $32,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $159,922 |
| Fees for services: Investment Management | $126,224 |
| Fees for services: Other | $491,991 |
| Advertising and promotion | $54,158 |
| Office expenses | $492,416 |
| Information technology | $123,423 |
| Royalties | $0 |
| Occupancy | $540,969 |
| Travel | $68,035 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,058 |
| Interest | $63,477 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,313,991 |
| Insurance | $42,211 |
| All other expenses | $0 |
| Total functional expenses | $7,043,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,175 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,395,996 |
| Accounts receivable, net | $5,716 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $140,701 |
| Prepaid expenses and deferred charges | $90,912 |
| Net Land, buildings, and equipment | $33,947,069 |
| Investments—publicly traded securities | $28,931,961 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,331,161 |
| Total assets | $66,150,691 |
| Accounts payable and accrued expenses | $221,470 |
| Grants payable | $0 |
| Deferred revenue | $85,288 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,956,758 |
| Net assets without donor restrictions | $37,000,768 |
| Net assets with donor restrictions | $22,193,165 |
| 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 | $66,150,691 |