Portland Art Museum
- Assets
- $170.1m
- Revenue
- $22.3m
- Investments
- $16.1m
- Employees
- 215
- Location
- Portland, OR
- Founding
- 04/1938
- Data as of
- 06/2021
- EIN
- 93-0391604
Organization Overview
Portland Art Museum is located in Portland, OR. The organization was established in 1938. 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 06/2023, Portland Art Museum employed 215 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portland Art 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 06/2021, Portland Art Museum generated $22.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $15.6m 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
COLLECTION AND PRESERVATION OF ART FOR PUBLIC EXHIBITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM DEVOTES 90% OF ITS GALLERIES TO ITS PERMANENT COLLECTION, WHICH CONSISTS OF MORE THAN 50,000 OBJECTS. IT ALSO MAINTAINS AN AMBITIOUS SPECIAL EXHIBITION PROGRAM. HIGHLIGHTS FROM THE FISCAL YEAR 2023 INCLUDE: PERSPECTIVES, JEFFERY GIBSON & OSCAR HOWE, APEX: SHARITA TOWNE, HUMAN | NATURE, HITO STEYERL: THIS IS THE FUTURE, SHADES OF LIGHT: KOREAN ART, FORCES OF NATURE: ECOLOGY IN JAPANESE PRINTS, AND SYMBIOSIS.
THE MUSEUM'S CENTER FOR AN UNTOLD TOMORROW IS A YEAR-ROUND ORGANIZATION AND SPACE WHERE ARTISTS AND AUDIENCES EXPLORE OUR REGION AND THE WORLD THROUGH CINEMA AND CINEMATIC STORYTELLING IN ALL ITS FORMS. ITS MISSION IS TO EXPAND THE REACH OF CINEMA AS AN ART FORM AND CHALLENGE FOR WHOM, BY WHOM AND HOW STORIES CAN BE TOLD.THROUGH ITS NON-TRADITIONAL, UNBOUND FESTIVALS, SCREENINGS, EVENTS, CO:LABORATORY ADULT AND YOUTH CLASSES AND WORKSHOPS, AUDIENCES AND ARTISTS FORM CONNECTIONS THAT BIND OUR COMMUNITY AND ENCOURAGE A MORE VIBRANT, ACCESSIBLE, AND DIVERSE MEDIA-ARTS ECOSYSTEM.
THE LEARNING AND COMMUNITY PARTNERSHIPS TEAM AT THE PORTLAND ART MUSEUM WORKS TO OFFER A FULL SPECTRUM OF PROGRAMS AND OUTREACH INITIATIVES THAT PROMOTE LIFELONG LEARNING AND BUILD CONNECTIONS TO OUR LOCAL COMMUNITY. THROUGH PROGRAMS, PARTNERSHIPS, AND COMMUNITY ADVISORY PROCESSES, THE MUSEUM STRIVES TO BE MORE THAN JUST A COLLECTION OF OBJECTS AND ARTWORK, BUT ALSO TO BE A PLACE WHERE CONVERSATIONS ABOUT THE WORLD AROUND US TAKE PLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alix Meier Goodman Chair | OfficerTrustee | 1 | $0 |
Angela Snow Vice-Chair | OfficerTrustee | 1 | $0 |
Jin Park Treasurer | OfficerTrustee | 1 | $0 |
Mary Lee Boklund Secretary | OfficerTrustee | 1 | $0 |
Linda Andrews Trustee | Trustee | 1 | $0 |
Kaberi Banerjee Murthy Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hennebery Eddy Architects Inc Architectural Services | 6/29/23 | $574,930 |
Computrols Inc Building Controls Construction | 6/29/23 | $494,681 |
Community Counseling Service Co Llc Fundraising Consultants | 6/29/23 | $464,000 |
Ma Mortenson Company Construction Contractors | 6/29/23 | $440,000 |
Brandsen Hardwood Floors Flooring Installation | 6/29/23 | $278,650 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,536,962 |
| Investment income | $1,316,200 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $231,859 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $210,523 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,345,406 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $160,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $778,938 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,957,896 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $861,372 |
| Payroll taxes | $395,440 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,016 |
| Fees for services: Accounting | $79,179 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $591,000 |
| Fees for services: Investment Management | $111,876 |
| Fees for services: Other | $1,966,816 |
| Advertising and promotion | $149,839 |
| Office expenses | $600,423 |
| Information technology | $347,705 |
| Royalties | $0 |
| Occupancy | $949,839 |
| Travel | $5,411 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,084 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,829,450 |
| Insurance | $191,425 |
| All other expenses | $0 |
| Total functional expenses | $15,609,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,096,006 |
| Savings and temporary cash investments | $579,099 |
| Pledges and grants receivable | $11,134,959 |
| Accounts receivable, net | $31,193 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $300,562 |
| Prepaid expenses and deferred charges | $647,587 |
| Investments—publicly traded securities | $83,344,815 |
| Investments—other securities | $16,074,015 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,787,060 |
| Total assets | $170,055,224 |
| Accounts payable and accrued expenses | $1,977,348 |
| Grants payable | $0 |
| Deferred revenue | $1,141,976 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,835,900 |
| Other liabilities | $175,933 |
| Total liabilities | $5,131,157 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $164,924,067 |