Long Beach Museum Of Art Foundation
- Assets
- $5.7m
- Revenue
- $1.5m
- Investments
- $888.4k
- Employees
- 79
- Location
- Long Beach, CA
- Founding
- 04/1966
- Data as of
- 09/2020
- EIN
- 95-2567271
Organization Overview
Long Beach Museum Of Art Foundation is located in Long Beach, CA. The organization was established in 1966. 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 09/2021, Long Beach Museum Of Art Foundation employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Beach Museum Of Art 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 09/2020, Long Beach Museum Of Art Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $1.7m during the year ending 09/2020. While expenses have increased by 1.0% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE FOUNDATION IS TO PROMOTE UNDERSTANDING AND APPRECIATION OF THE ARTS, TO COLLECT AND EXHIBIT SIGNIFICANT WORKS OF ART, & TO MANAGE AND SUPPORT AN INSTITUTION WHERE THESE WORKS OF ART MAY BE HOUSED AND DISPLAYED FOR THE EDUCATION AND ENJOYMENT OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LBMA PRESERVES, CONSERVES, RESEARCHES AND EXHIBITS WORKS OF ART IN ITS COLLECTION. LBMA SHARES HISTORICAL, BIOGRAPHICAL, ARTISTIC AND CULTURAL IDEAS AND INFORMATION THAT DEFINES AND INTERPRETS THE WORKS IN ITS COLLECTION AND ON EXHIBITION. LBMA EXHIBITS ARTWORK LOANED BY INDIVIDUALS AND OTHER INSTITUTIONS THAT PROVIDES CONTEXT FOR, COMPARISON WITH AND FURTHER EXPLORATION OF THE IMPORTANT WORKS IN THE COLLECTION. THE MUSEUM PRESENTS EDUCATIONAL PROGRAMS FOR CHILDREN AND ADULTS THAT PROMOTE LIFE-LONG LEARNING, NOURISH CREATIVITY AND FOSTER SELF-EXPRESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Nelson Executive Dir. | Officer | 40 | $234,245 |
Mathew Rabin President | OfficerTrustee | 1 | $0 |
Marsha Jeffer Secretary | OfficerTrustee | 1 | $0 |
Donita Joseph Treasurer | OfficerTrustee | 1 | $0 |
Tala Baltazar Trustee | Trustee | 1 | $0 |
Debbie Autrey Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,765,814 |
| Investment income | $55,632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,200 |
| Net Gain/Loss on Asset Sales | -$30,971 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$358,273 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,514,327 |
| Statement of Expenses | |
|---|---|
| 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. | $235,001 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $630,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $69,149 |
| Payroll taxes | $62,569 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,054 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,596 |
| Office expenses | $75,658 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $42,990 |
| 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 | $185,648 |
| Insurance | $63,056 |
| All other expenses | $0 |
| Total functional expenses | $1,667,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,656 |
| Savings and temporary cash investments | $402,279 |
| Pledges and grants receivable | $200,000 |
| Accounts receivable, net | $5,530 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,421 |
| Prepaid expenses and deferred charges | $39,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $888,436 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,708,644 |
| Accounts payable and accrued expenses | $258,826 |
| Grants payable | $0 |
| Deferred revenue | $162,104 |
| 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 | $251,792 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,000 |
| Total liabilities | $708,722 |
| 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 | $4,999,922 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Long Beach Museum Of Art Foundation has recieved totaling $146,576.
| Awarding Organization | Amount |
|---|---|
Long Beach Community Foundation Long Beach, CA PURPOSE: GENERAL SUPPORT/MILBANKS CIRCLE | $91,500 |
The Rudolph J & Daphne A Munzer Foundation Long Beach, CA PURPOSE: FORTIFY THE INFRASTRUCTURE/REIMAGINED PROGRAMMING OF THE LONG BEACH MUSEUM OF ART | $50,000 |
Baker Family Foundation Long Beach, CA PURPOSE: TO PROMOTE UNDERSTANDING AND APPREICAITON OF THE ARTS | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $76 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Of Contemporary Art Los Angeles, CA | $173,324,238 | $20,204,928 |
San Diego Museum Of Art San Diego, CA | $78,902,831 | $13,995,818 |
Honolulu Museum Of Art Honolulu, HI | $136,524,458 | $12,640,830 |
Phoenix Art Museum Phoenix, AZ | $7,242,004 | $9,400,156 |
Crocker Art Museum Association Sacramento, CA | $31,464,464 | $12,237,025 |
Nevada Museum Of Art Inc Reno, NV | $65,871,084 | $23,939,678 |
Santa Barbara Museum Of Art Santa Barbara, CA | $142,171,274 | $22,074,169 |
Museum Of Contemporary Art San Diego San Diego, CA | $162,622,820 | $13,720,273 |
Norton Simon Museum Of Art At Pasadena Pasadena, CA | $122,399,582 | $8,241,771 |
San Jose Museum Of Art Association San Jose, CA | $16,287,073 | $5,738,899 |
Orange County Museum Of Art Costa Mesa, CA | $94,177,600 | $20,684,828 |
Broad Art Foundation Los Angeles, CA | $604,724,418 | $1,209,304 |