Norton Simon Art Foundation
- Assets
- $402.7m
- Revenue
- $10.4m
- Investments
- $242.2m
- Employees
- 0
- Location
- Pasadena, CA
- Founding
- 03/1957
- Data as of
- 11/2021
- EIN
- 95-6038921
Organization Overview
Norton Simon Art Foundation is located in Pasadena, CA. The organization was established in 1957. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. Norton Simon 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 11/2021, Norton Simon Art Foundation generated $10.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $4.2m during the year ending 11/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAINTAINS AN ART COLLECTION, WHICH IT LOANS TO MUSEUMS FOR EXHIBITION TO THE PUBLIC. MOST OF THE FOUNDATION'S ART IS ON LOAN TO THE NORTON SIMON MUSEUM.
ACQUISITION OF EQUIPMENT AND MISCELLANEOUS CAPITALIZED EXPENDITURES FOR THE PROMOTION OF THE FOUNDATION'S CHARITABLE PURPOSE.
THE FOUNDATION PRODUCES SCHOLARLY CATALOGUES ON THE COLLECTIONS DISPLAYED AT THE NORTON SIMON MUSEUM.
THE FOUNDATION CONDUCTS A SERIES OF ART-RELATED LECTURES AND PERFORMANCES. FOR THIS TAX YEAR, ART-RELATED LECTURES AND PERFORMANCES WERE PRESENTED TO THE PUBLIC VIRTUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter W Timoshuk President | 30 | $598,579 | |
Ronald H Dykhuizen CFO | 30 | $187,167 | |
Stephanie Villasenor Secretary | 37.5 | $163,500 | |
Leslie Denk Dir Of Ext Affairs | 28 | $90,188 | |
John Griswold Conservator | 28 | $85,016 | |
Sandra Chen Senior Accountant | 28 | $71,123 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Miller Law Offices | 11/29/21 | $90,934 |
Wilshire Advisors Llc | 11/29/21 | $67,573 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $490 |
| Dividends & Interest | $2,651,396 |
| Net Rental Income | $1,403,140 |
| Net Gain on Sale of Assets | $5,983,643 |
| Capital Gain Net Income | $5,199,848 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $5,955 |
| Other Income | $377,968 |
| Total Revenue | $10,441,452 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $721,500 |
| Other employee salaries and wages | $901,675 |
| Pension plans, employee benefits | $520,357 |
| Interest | $0 |
| Taxes | $350 |
| Depreciation | $212,132 |
| Occupancy | $49,042 |
| Travel, conferences, and meetings | $2,903 |
| Printing and publications | $7,929 |
| Other expenses | $1,358,735 |
| Total operating and administrative expenses | $4,195,859 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,195,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,690 |
| Savings and temporary cash investments | $20,507 |
| Net Accounts receivable | $26,458 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $57,733 |
| Prepaid expenses and deferred charges | $538,320 |
| Net Investments - land, buildings, equipment | $1,006,391 |
| Investments—mortgage loans | $0 |
| Investments—other | $86,068,320 |
| Net Land, buildings, and equipment | $723,500 |
| Other assets | $158,141,018 |
| Total assets | $402,690,558 |
| Accounts payable and accrued expenses | $623,529 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $623,529 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norton Simon Art Foundation Pasadena, CA | $402,690,558 | $10,441,452 |
Reut Usa Woodland Hills, CA | $1,442,535 | $3,682,077 |
Laurie C Mcgrath Foundation San Diego, CA | $66,075,096 | $62,426,346 |
Armenian Educational Foundation Inc Glendale, CA | $5,680,253 | $2,130,869 |
William And Joanne Miller Charitable Trust Simi Valley, CA | $69,537,632 | $4,537,991 |
Latino Public Broadcasting Los Angeles, CA | $1,965,169 | $2,106,064 |
Hack The Hood Inc Oakland, CA | $1,558,755 | $1,730,354 |
Womans Club Of Hollywood Los Angeles, CA | $248,203 | $0 |
Diablo Regional Arts Association Walnut Creek, CA | $3,333,800 | $1,541,851 |
Jack Van Sickle Foundation Reno, NV | $9,650,730 | $1,661,273 |
Foundation Of Palm Springs Unified School District Palm Springs, CA | $3,246,098 | $1,243,965 |
Trichell Family Foundation Bakersfield, CA | $14,378,452 | $28,165 |