Fine Arts Museums Foundation
- Assets
- $289.8m
- Revenue
- $17.2m
- Investments
- $7.2m
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 07/1965
- Data as of
- 06/2022
- EIN
- 94-6096509
Organization Overview
Fine Arts Museums Foundation is located in San Francisco, CA. The organization was established in 1965. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Fine Arts Museums Foundation 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, Fine Arts Museums Foundation generated $17.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $16.6m during the year ending 06/2022. While expenses have increased by 5.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RECEIVING, DONATING AND DISBURSING FUNDS FOR THE FINE ARTS MUSEUMS.
Describe the Organization's Program Activity:
ART ACQUISITIONS FOR THE FINE ARTS MUSEUMS.
THE FINE ARTS MUSEUMS FOUNDATION (FAMF) AND COFAM PRIVATELY RAISED FUNDS AND REBUILT THE DEYOUNG MUSEUM, WHICH WAS GIFTED TO THE CITY OF SAN FRANCISCO UPON ITS COMPLETION IN 2005. THESE EXPENSES INCLUDE THE AMORTIZATION OF THE BENEFICIAL INTEREST IN THE DEYOUNG AS WELL AS THE COST OF SERVICING RELATED BONDS. THE NEW DEYOUNG HAS PERMITTED EXPANDED AND IMPROVED SERVICE TO THE MUSEUM'S PUBLIC BY INCREASING THE AMOUNT OF ART ON VIEW, THE EXPANSION OF THE EDUCATIONAL DEPARTMENT AND THE INCREASED EXHIBITION SPACE.
DISBURSEMENT OF FUNDS FOR THE EMBELLISHMENT, ADVANCEMENT, AND ADMINISTRATION OF THE CORPORATION FOR THE FINE ARTS MUSEUMS(COFAM).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Campbell Director Of Museums | Officer | 5 | $0 |
Jason Seifer Fiscal Officer | Officer | 10 | $0 |
Lorna F Meyer President | OfficerTrustee | 5 | $0 |
George Hecksher Vice President | OfficerTrustee | 1 | $0 |
David Soward Treasurer, VP Of Investments | OfficerTrustee | 1 | $0 |
Debbie Jorgensen Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Canterbury Consulting Investment Management Fees | 6/29/22 | $234,421 |
Corporation Of The Fine Arts Museums Management Fees | 6/29/22 | $180,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,446,613 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,553,264 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,999,877 |
| Total Program Service Revenue | $0 |
| Investment income | $3,587,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,583,941 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,172,075 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,301,868 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $180,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $79,927 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $625,449 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,824 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,891,969 |
| Insurance | $60,700 |
| All other expenses | $6,490,077 |
| Total functional expenses | $16,636,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,524,880 |
| Savings and temporary cash investments | $4,602,039 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $824,719 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,442,061 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $685,000 |
| Investments—publicly traded securities | $162,431,646 |
| Investments—other securities | $7,185,303 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $108,084,601 |
| Total assets | $289,780,249 |
| Accounts payable and accrued expenses | $1,179,048 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,179,048 |
| Net assets without donor restrictions | $155,627,436 |
| Net assets with donor restrictions | $132,973,765 |
| 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 | $289,780,249 |