Fitchburg Art Museum
- Assets
- $25.5m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 24
- Location
- Fitchburg, MA
- Founding
- 06/1948
- Data as of
- 06/2021
- EIN
- 04-6111758
Organization Overview
Fitchburg Art Museum is located in Fitchburg, MA. The organization was established in 1948. 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 06/2021, Fitchburg Art Museum employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fitchburg Art Museum 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 06/2021, Fitchburg Art Museum generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.8% each year . All expenses for the organization totaled $1.7m during the year ending 06/2021. While expenses have increased by 2.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FITCHBURG ART MUSEUM IS A CATALYST FOR LEARNING, CREATIVITY, AND COMMUNITY BUILDING. WE ACCOMPLISH THIS MISSION WITH ART HISTORICAL COLLECTIONS AND EXHIBITIONS, SPECIAL EXHIBITIONS OF CONTEMPORARY NEW ENGLAND ART, EDUCATION PROGRAMS, PUBLIC ART PROJECTS, COMMUNITY PARTNERSHIPS, AND CREATIVE ECONOMY INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION AND EXHIBITIONS: PRESERVE AND CARE FOR FITCHBURG ART MUSEUM'S PERMANENT ART COLLECTION; DISPLAY PERMANENT AND TEMPORARY EXHIBITIONS FOR THE EDUCATION AND ENJOYMENT OF THE PUBLIC; FEATURE EXHIBITIONS OF CONTEMPORARY NEW ENGLAND ARTISTS.
EDUCATIONAL PROGRAMS: PROVIDE LEARNING OPPORTUNITIES FOR ALL AGES IN THE GALLERIES; ARTIST AND CURATOR TALKS; PUBLIC AND SCHOOL GROUP TOURS; ART CLASSES; WORKSHOPS; AND TEACHER TRAINING.
COMMUNITY PARTNERSHIPS AND ENGAGEMENT: PARTNER WITH EDUCATIONAL AND CIVIC ORGANIZATIONS TO CREATE AND SUSTAIN A LIVABLE AND VIBRANT CITY AND REGION; COMMUNITY OUTREACH AND ACCESSIBILITY INITIATIVES; CREATIVE ECONOMY INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Capasso Director | Officer | 40 | $118,168 |
Nadine Price Vice Preside | OfficerTrustee | 1 | $0 |
Karen Spinelli Secretary | OfficerTrustee | 1 | $0 |
Susan Roetzer President | OfficerTrustee | 1 | $0 |
Joseph Sylvia Treasurer | OfficerTrustee | 1 | $0 |
William Mcsheehy Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $819,825 |
| Investment income | $304,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,486,290 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,731,661 |
| 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. | $118,168 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $604,218 |
| Pension plan accruals and contributions | $20,560 |
| Other employee benefits | $100,905 |
| Payroll taxes | $66,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,114 |
| Fees for services: Accounting | $9,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,468 |
| Fees for services: Other | $4,326 |
| Advertising and promotion | $8,779 |
| Office expenses | $78,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $137,163 |
| Travel | $2,474 |
| 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 | $147,191 |
| Insurance | $28,154 |
| All other expenses | $0 |
| Total functional expenses | $1,700,172 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $654,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,026 |
| Investments—publicly traded securities | $22,279,057 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,001 |
| Total assets | $25,526,367 |
| Accounts payable and accrued expenses | $21,046 |
| 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 | $21,046 |
| 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 | $25,505,321 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fitchburg Art Museum has recieved totaling $750.
| Awarding Organization | Amount |
|---|---|
Alchemy Foundation Cambridge, MA PURPOSE: GENERAL SUPPORT | $500 |
Hometown Bank Community Foundation Inc Oxford, MA PURPOSE: EXEMPT PURPOSE | $250 |
Endowment Analysis
| Beg. Balance | $18,576,710 |
| Earnings | $4,714,635 |
| Other Expense | $993,931 |
| Ending Balance | $22,297,414 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Institute Of Contemporary Art Boston, MA | $121,321,339 | $26,427,567 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |
Wadsworth Atheneum Museum Of Art Hartford, CT | $165,426,651 | $15,147,902 |
Neue Galerie New York New York, NY | $114,494,920 | $18,242 |
Worcester Art Museum Worcester, MA | $148,643,203 | $30,005,812 |
International Center Of Photography New York, NY | $72,245,409 | $16,287,723 |
Doris Duke Foundation For Islamic Art New York, NY | $38,632,422 | $9,089,054 |
Storm King Art Center New Windsor, NY | $80,583,864 | $14,230,209 |
Fellowship For The Performing Arts Inc New York, NY | $15,555,732 | $10,766,818 |
Ps1 Contemporary Art Center Inc Long Island City, NY | $7,393,924 | $9,638,266 |