Sterling & Francine Clark Art Inst
- Assets
- $592.8m
- Revenue
- $26.7m
- Investments
- $372.9m
- Employees
- 177
- Location
- Williamstown, MA
- Founding
- 09/1951
- Data as of
- 06/2020
- EIN
- 04-2163004
Organization Overview
Sterling & Francine Clark Art Inst is located in Williamstown, MA. The organization was established in 1951. 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 06/2020, Sterling & Francine Clark Art Inst employed 177 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Sterling & Francine Clark Art Inst generated $26.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $27.8m during the year ending 06/2020. While expenses have increased by 0.8% per year over the past 5 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR RESEARCH AND ACADEMIC PROGRAMS ACCOMPLISHMENTS.
SEE SCHEDULE O FOR MUSEUM PROGRAM ACCOMPLISHMENTS.
SEE SCHEDULE O FOR EDUCATIONAL PROGRAM ACCOMPLISHMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olivier Meslay Director & Ex-Officio | OfficerTrustee | 40 | $356,908 |
Thomas Woodward Chief Advancement Officer | Officer | 40 | $196,921 |
Lawrence Smallwood Deputy Director & Clerk | Officer | 40 | $192,760 |
Esther S Bell Chief Curator | 40 | $176,914 | |
Kathleen Morris Marx Director Of Collectio | 40 | $150,830 | |
Victoria Saltzman Director Of Communications | 40 | $145,390 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securitas Security Sevices Security Services | 6/29/20 | $1,294,963 |
Louis C Allegrone Inc Cleaning, Caulking, And Repairs | 6/29/20 | $598,252 |
Masterpiece International Ltd Art Transportation | 6/29/20 | $482,078 |
Transport Consultants International Inc Packing, Photos And Transport Of Art | 6/29/20 | $174,705 |
J & M Geary Construction Inc Construction | 6/29/20 | $238,363 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,151,074 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $192,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,684,465 |
| Noncash contributions included in lines 1a–1f | $169,366 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,028,289 |
| Total Program Service Revenue | $1,595,066 |
| Investment income | $1,711,788 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,066 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $262,584 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $71,768 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,673,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,000 |
| Grants and other assistance to domestic individuals. | $257,239 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $842,822 |
| Compensation of current officers, directors, key employees. | $508,121 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,765,657 |
| Pension plan accruals and contributions | $449,152 |
| Other employee benefits | $920,134 |
| Payroll taxes | $459,367 |
| Fees for services: Management | $179,886 |
| Fees for services: Legal | $21,321 |
| Fees for services: Accounting | $60,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $79,051 |
| Fees for services: Investment Management | $951,806 |
| Fees for services: Other | $39,820 |
| Advertising and promotion | $264,519 |
| Office expenses | $387,242 |
| Information technology | $246,547 |
| Royalties | $10,874 |
| Occupancy | $2,409,795 |
| Travel | $123,190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $572,811 |
| Interest | $2,974,723 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,958,872 |
| Insurance | $336,993 |
| All other expenses | $114,593 |
| Total functional expenses | $27,753,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,849,723 |
| Pledges and grants receivable | $12,037,464 |
| Accounts receivable, net | $133,032 |
| Loans from Officers, Directors, or Controlling Persons | $83,378 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $153,195 |
| Inventories for sale or use | $431,710 |
| Prepaid expenses and deferred charges | $316,006 |
| Net Land, buildings, and equipment | $196,299,598 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $372,869,262 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,637,317 |
| Total assets | $592,810,685 |
| Accounts payable and accrued expenses | $1,503,896 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $84,488,347 |
| 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 | $85,992,243 |
| Net assets without donor restrictions | $361,084,318 |
| Net assets with donor restrictions | $145,734,124 |
| 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 | $592,810,685 |
Grants Awarded
Over the last fiscal year, Sterling & Francine Clark Art Inst has awarded $38,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsfield, MA PURPOSE: ECONOMIC DEVELOPMENT | $20,000 |
North Adams, MA PURPOSE: $18,000 STUDENT EXHIBITION SUPPORT - BIBLIOTHECAPHILIA | $18,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Sterling & Francine Clark Art Inst has recieved totaling $22,564.
| Awarding Organization | Amount |
|---|---|
Gulf Coast Community Foundation Inc Venice, FL PURPOSE: ARTS & CULTURE | $21,000 |
Dr Lee Maccormick Edwards Charitable Foundation Naples, FL PURPOSE: GENERAL PURPOSES | $1,064 |
Kurtz Family Foundation Inc Englewood, NJ PURPOSE: GENERAL SUPPORT | $500 |
Endowment Analysis
| Beg. Balance | $110,863,760 |
| Earnings | $1,587,483 |
| Net Contributions | $15,068,990 |
| Other Expense | $4,169,435 |
| Ending Balance | $123,350,798 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Of Fine Arts Boston, MA | $1,234,619,782 | $175,070,799 |
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
Solomon R Guggenheim Foundation New York, NY | $211,321,255 | $84,620,075 |
Brooklyn Institute Of Arts And Sciences Brooklyn, NY | $323,254,347 | $40,602,578 |
Frick Collection New York, NY | $460,985,969 | $72,415,948 |
Sterling & Francine Clark Art Inst Williamstown, MA | $592,810,685 | $26,673,561 |
Isabella Stewart Gardner Museum Inc Boston, MA | $300,537,225 | $28,169,713 |
International Center Of Photography New York, NY | $78,791,074 | $13,311,038 |
Institute Of Contemporary Art Boston, MA | $109,903,281 | $18,722,449 |
New Museum Of Contemporary Art New York, NY | $102,984,339 | $11,726,489 |
Neue Galerie New York New York, NY | $118,307,844 | $15,173,004 |
Museum Of Arts And Design New York, NY | $94,967,672 | $22,570,509 |