Monterey Museum Of Art
- Assets
- $12.1m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 23
- Location
- Monterey, CA
- Founding
- 05/1963
- Data as of
- 06/2022
- EIN
- 94-1534563
Organization Overview
Monterey Museum Of Art is located in Monterey, CA. The organization was established in 1963. 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, Monterey Museum Of Art employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monterey Museum Of Art 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, Monterey Museum Of Art generated $3.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. While expenses have increased by 1.8% per year over the past 7 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
THE MONTEREY MUSEUM OF ART CULTIVATES CURIOSITY IN THE VISUAL ARTS AND ENGAGES COMMUNITY WITH THE DIVERSITY OF CALIFORNIA ART PAST, PRESENT, AND FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1959, THE MONTEREY MUSEUM OF ART (MMA) UPHOLDS THE ARTISTIC LEGACY OF THE REGION BY COLLECTING, PRESERVING, AND PRESENTING THE ART OF CALIFORNIA TO IMPROVE THE QUALITY OF LIFE FOR MONTEREY COUNTY RESIDENTS AND VISITORS. ACCREDITED BY THE AMERICAN ALLIANCE OF MUSEUMS, MMA PRESENTS SPECIAL TRAVELING EXHIBITIONS, COMMUNITY EXHIBITIONS, EXHIBITIONS FEATURING EMERGING ARTISTS, PERMANENT COLLECTION PRESENTATIONS, AND SPECIAL INSTALLATIONS. THE MUSEUM CONTINUES TO ACTIVELY DIVERSIFY ITS PERMANENT COLLECTION OF ART TO ENSURE THAT IT REFLECTS THE MANY CULTURES AND STORIES OF CALIFORNIA AND MONTEREY COUNTY. MMA SERVES OVER 20,000 VISITORS ANNUALLY, AND THE MUSEUM IS COMMITTED TO PRESENTING EXHIBITIONS AND PROGRAMS THAT ARE INCLUSIVE.
COINCIDING WITH EXHIBITIONS ARE MMAS PUBLIC PROGRAMS FOR ALL AGESFROM CHILDREN TO SENIORS. KEY PROGRAMS INCLUDE MMAS SCHOOL VISIT PROGRAM FOR K-12 STUDENTS (INTEGRATING STATE AND NATIONAL LEARNING STANDARDS TO SUPPORT CLASSROOM LEARNING), FREE FAMILY FUN DAYS (HELD SIX TIMES PER YEAR), SCHOLARLY LECTURES, FIRST FRIDAYS, AN ARTIST-IN-RESIDENCE PROGRAM, ARTIST-LED WORKSHOPS AND TALKS, AFTER SCHOOL ART PROGRAMS, AND ELEGANT CULTURAL EVENTS. MMA ALSO ENGAGES AND SUPPORTS THE LOCAL ARTIST COMMUNITY THROUGH ITS MANY INITIATIVES. THANKS TO COMMUNITY SUPPORT, THE MUSEUM CONTINUES TO OFFER SEVERAL OF ITS EDUCATION PROGRAMS FREE OF CHARGEPROVIDING EQUITABLE ACCESS TO STUDENTS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Madden Executive Dir. | Officer | 40 | $158,090 |
Lila Thorsen Pres. Emerita | OfficerTrustee | 1 | $0 |
Monika Campbell Trustee | Trustee | 1 | $0 |
Thomas Donnelly Trustee | Trustee | 1 | $0 |
John Greenwald Treasurer | OfficerTrustee | 1 | $0 |
Adriana Hayward President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $398,988 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,156,116 |
| Noncash contributions included in lines 1a–1f | $37,761 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,555,104 |
| Total Program Service Revenue | $86,925 |
| Investment income | $177,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $441,885 |
| Net Income from Fundraising Events | -$102,600 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,085 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,167,468 |
| 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. | $182,341 |
| Compensation of current officers, directors, key employees. | $45,585 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $815,946 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $78,240 |
| Payroll taxes | $73,014 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,094 |
| Fees for services: Accounting | $66,524 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,210 |
| Fees for services: Other | $161,153 |
| Advertising and promotion | $42,116 |
| Office expenses | $69,106 |
| Information technology | $50,215 |
| Royalties | $0 |
| Occupancy | $210,438 |
| Travel | $6,955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $31,387 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $189,690 |
| Insurance | $75,293 |
| All other expenses | $39,629 |
| Total functional expenses | $2,355,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $293,708 |
| Accounts receivable, net | $34,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $800 |
| Prepaid expenses and deferred charges | $4,447 |
| Net Land, buildings, and equipment | $3,386,921 |
| Investments—publicly traded securities | $6,315,411 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,651,050 |
| Total assets | $12,125,244 |
| Accounts payable and accrued expenses | $147,378 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $659,229 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,201 |
| Total liabilities | $807,808 |
| Net assets without donor restrictions | $6,324,784 |
| Net assets with donor restrictions | $4,992,652 |
| 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 | $12,125,244 |