Museum Associates
- Assets
- $1.5b
- Revenue
- $150.8m
- Investments
- $257.8m
- Employees
- 505
- Location
- Los Angeles, CA
- Founding
- 09/1944
- Data as of
- 06/2022
- EIN
- 95-2264067
Organization Overview
Museum Associates, operating under the name Los Angeles County Museum Of Art (lacma), is located in Los Angeles, CA. The organization was established in 1944. 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, Los Angeles County Museum Of Art (lacma) employed 505 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles County Museum Of Art (lacma) 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, Los Angeles County Museum Of Art (lacma) generated $150.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $97.6m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Los Angeles County Museum Of Art (lacma) has awarded 13 individual grants totaling $3,089,773. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA PRESENTED 27 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS IN FISCAL 2021-2022, FEATURING ARTWORKS FROM ITS OWN COLLECTION AND FROM LENDERS AROUND THE WORLD. PUBLIC PROGRAMS, FILMS, AND CONCERTS ARE DEVELOPED IN COORDINATION WITH SPECIAL EXHIBITIONS. MANY WORKS FROM THE MUSEUM'S COLLECTION OF NEARLY 149,000 OBJECTS ARE TREATED BY CONSERVATORS, WHILE THE MUSEUM'S RESEARCH LIBRARY AND SCHOLARLY PUBLICATIONS PROVIDE REFERENCE SUPPORT TO MUSEUM STAFF AND OUTSIDE SCHOLARS. ALL OF THESE ACTIVITIES SERVE TO MEET THE GOALS OF CONSERVATION, EXHIBITION AND INTERPRETATION OF ART INTO MEANINGFUL AESTHETIC, INTELLECTUAL, AND CULTURAL EXPERIENCES.
THE MUSEUM COLLECTS WORKS OF ART IN ALL MEDIA, FROM EVERY HISTORICAL PERIOD, AND FROM EVERY CORNER OF THE GLOBE TO ENHANCE ITS PERMANENT COLLECTION. EXPENSES REFLECT FUNDS PAID BY THE MUSEUM FOR THE ACQUISITION OF ART WORKS, BUT DO NOT REFLECT THE VALUE OF IN-KIND GIFTS OF ART. THE MUSEUM OFFERS MANY EDUCATIONAL OUTREACH PROGRAMS IN LOCAL SCHOOLS AND ON-SITE FOR CHILDREN AND TEENS AS WELL AS CLASSES AND OTHER PROGRAMS AND INTERPRETIVE MATERIALS FOR COLLEGE STUDENTS AND ADULTS.
FACILITY ENHANCEMENTIN FISCAL 2021-2022, LACMA CONTINUED WORK TOWARDS A MAJOR, NEW MUSEUM BUILDING. MOST OF THESE COSTS WERE CAPITALIZED AND ARE NOT REFLECTED ON THIS LINE. THIS CATEGORY OF EXPENSE ALSO REFLECTS FINANCING AND DEPRECIATION EXPENSE REPRESENTING AMORTIZATION OF THE CAPITALIZED COSTS OF CONSTRUCTING THE MUSEUM'S PHYSICAL FACILITIES, AN ACTIVITY THAT IS ONE OF THE CORE REASONS MUSEUM ASSOCIATES WAS FOUNDED.
PUBLIC AND PROTECTIVE SERVICES AND ENGAGEMENTIT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES, ETHNICITIES, AND SOCIO-ECONOMIC BACKGROUNDS BY CREATING WELCOMING ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING ON-SITE STAFF AND CONTRACTORS PROTECTING ART AND PROVIDING SERVICE TO THE PUBLIC, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, CAMPUS WAY-FINDING MEDIA, AND THE MUSEUM MAGAZINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony P Ressler Co-Chair Of The Board | OfficerTrustee | 0.5 | $0 |
Elaine P Wynn Co-Chair Of The Board | OfficerTrustee | 0.5 | $0 |
Willow Bay Vice Chair | OfficerTrustee | 0.5 | $0 |
Robert Kotick Vice Chair | OfficerTrustee | 0.5 | $0 |
William H Ahmanson Trustee | Trustee | 0.5 | $0 |
He Sheikha Al Mayassa Bint Hamad, Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Services Security | 6/29/22 | $4,060,302 |
Skidmore Owings & Merrill Llp Architectural Consulting | 6/29/22 | $4,791,554 |
Clark Construction Group Construction | 6/29/22 | $77,038,441 |
Us Art Company Inc Shipping & Storage | 6/29/22 | $1,580,190 |
Atelier Peter Zumthor & Partner Architecture | 6/29/22 | $1,347,191 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,408,624 |
| Fundraising events | $3,425,054 |
| Related organizations | $0 |
| Government grants | $9,717,856 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,032,146 |
| Noncash contributions included in lines 1a–1f | $11,582,157 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $86,583,680 |
| Total Program Service Revenue | $42,968,004 |
| Investment income | $10,281,465 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $145,587 |
| Net Rental Income | $1,397,539 |
| Net Gain/Loss on Asset Sales | $7,767,614 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,403,169 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $150,810,631 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,237,842 |
| Grants and other assistance to domestic individuals. | $197,385 |
| Grants and other assistance to Foreign Orgs/Individuals | $44,826 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,092,149 |
| Compensation of current officers, directors, key employees. | $1,923,510 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,747,136 |
| Pension plan accruals and contributions | -$2,019,549 |
| Other employee benefits | $3,175,130 |
| Payroll taxes | $1,982,029 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $84,004 |
| Fees for services: Accounting | $87,467 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $12,188 |
| Fees for services: Investment Management | $1,378,833 |
| Fees for services: Other | $7,290,304 |
| Advertising and promotion | $230,612 |
| Office expenses | $3,990,295 |
| Information technology | $1,276,088 |
| Royalties | $39,651 |
| Occupancy | $12,154,530 |
| Travel | $467,598 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,509,241 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,527,030 |
| Insurance | $1,633,928 |
| All other expenses | $1,157,691 |
| Total functional expenses | $97,616,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $134,468,917 |
| Pledges and grants receivable | $143,473,236 |
| Accounts receivable, net | $3,051,208 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $611,011 |
| Prepaid expenses and deferred charges | $51,904 |
| Net Land, buildings, and equipment | $542,886,324 |
| Investments—publicly traded securities | $330,243,573 |
| Investments—other securities | $257,834,314 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,634,216 |
| Total assets | $1,471,254,703 |
| Accounts payable and accrued expenses | $26,208,337 |
| Grants payable | $0 |
| Deferred revenue | $30,668,183 |
| Tax-exempt bond liabilities | $333,479,923 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $290,411,279 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $98,945,742 |
| Total liabilities | $779,713,464 |
| Net assets without donor restrictions | $380,547,396 |
| Net assets with donor restrictions | $310,993,843 |
| 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 | $1,471,254,703 |
Grants Awarded
Over the last fiscal year, Museum Associates has awarded $1,232,049 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TRIPLE AUGHT FOUNDATION PURPOSE: CURATORIAL | $1,032,049 |
SKYSTONE FOUNDATION PURPOSE: CURATORIAL | $200,000 |