New Britain Museum Of American Art Inc
- Assets
- $48.2m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 61
- Location
- New Britain, CT
- Founding
- 01/1996
- Data as of
- 06/2022
- EIN
- 06-1422234
Organization Overview
New Britain Museum Of American Art Inc is located in New Britain, CT. The organization was established in 1996. 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, New Britain Museum Of American Art Inc employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Britain Museum Of American Art Inc 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, New Britain Museum Of American Art Inc generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $4.7m during the year ending 06/2022. While expenses have increased by 0.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MUSEUM IS TO ACQUIRE, HOUSE, EXHIBIT, INTERPRET, RESEARCH, AND CONSERVE WORKS IN ALL ARTISTIC MEDIA BY ARTISTS WHO ARE AMERICAN CITIZENS; OR HAVE PRODUCED A SIGNIFICANT BODY OF WORK WHILE LIVING IN THE UNITED STATES; OR CONTRIBUTE TO ILLUMINATING THE EVOLVING STORY OF THE UNITED STATES OF AMERICA AND THE NOTION OF WHAT IS "AMERICAN," THROUGH THE VISUAL ARTS; AND TO OPERATE A MUSEUM WHERE ITS COLLECTION, AS WELL AS BORROWED WORKS, MAY BE DISPLAYED FOR THE ENJOYMENT AND EDUCATION OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ADDITION TO DISPLAYING A SELECTION OF ITS PERMANENT COLLECTION, THE MUSEUM MOUNTS 10+ CHANGING EXHIBITIONS PER YEAR.
EDUCATION IS CENTRAL TO THE MUSEUM'S MISSION ENGAGING NEARLY HALF OF ALL VISITORS IN A VARIETY OF PROGRAMS FOR ALL AGES. SCHOOL PROGRAMS INCLUDED A VARIETY OF STANDARDS-BASED, THEMED DOCENT-LED SCHOOL TOURS WITH RELATED STUDIO ACTIVITY THAT SUPPORT CLASSROOM TEACHING IN ART, HISTORY, LANGUAGE ARTS, MATH AND SCIENCE. PROFESSIONAL DEVELOPMENT WORKSHOPS FOR EDUCATORS (TOURS, STUDIO ACTIVITIES, AND IDEAS FOR INTEGRATING AMERICAN ART INTO CLASSROOM LEARNING); REGULAR PROGRAMS FOR CHILDREN AND FAMILIES WERE OFFERED WEEKLY AND DURING SCHOOL VACATIONS, TAUGHT BY ARTISTS/EDUCATORS AND/OR MUSEUM EDUCATORS AND SERVE CHILDREN OF ALL AGES- FROM INFANTS AND TODDLERS TO TEENS INCLUDING COMMUNITY DAYS, FAMILY DAYS, HOMESCHOOL DAYS, SCOUT PROGRAMS, AND BIRTHDAY PARTIES. ADULT PROGRAMMING CONSISTED OF: GALLERY TALKS, LECTURES, SYMPOSIA, PANEL DISCUSSIONS, AND TOURS; MONTHLY SUNDAY MUSIC SERIES.; FILM SCREENINGS; WEEKLY ADULT STUDIO PROGRAMS: (SKETCHING, WATERCOLORS, PAINTING, PHOTOGRAPHY); THURSDAY EVENING AND WEEKEND STUDIO WORKSHOPS; DROP-IN DOCENT-LED TOURS OF THE PERMANENT COLLECTIONS; SPECIALTY EXHIBITION TOURS; DOCENT-LED TOURS FOR ADULT/COLLEGE GROUPS; A REGULARLY SCHEDULED DOCENT TRAINING PROGRAM; EXHIBITION OPENINGS INCLUDING STUDENT ART SHOW OPENINGS AND MEMBERS ONLY PREVIEWS; AND THE NBMAA TRAVEL PROGRAM: ART-INTENSIVE TRIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Min Jung Kim Outgoing - Director & CEO | Officer | 40 | $149,557 |
Joanne Humen Director Of Finance & Hr | Officer | 40 | $84,540 |
Kenneth Jcarifa Secretary | OfficerTrustee | 0.1 | $0 |
John C Bombara Treasurer | OfficerTrustee | 0.1 | $0 |
Dona Casssella Chair | OfficerTrustee | 0.1 | $0 |
Kay Knight Clarke Vice Chairman | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Environmental Systems Corp Hvac Systems Maintenance And Repair | 6/29/21 | $105,470 |
Diversity Construction Group Llc Landers House Renovations | 6/29/21 | $106,139 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $193,783 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $671,453 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,021,681 |
| Noncash contributions included in lines 1a–1f | $47,971 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,886,917 |
| Total Program Service Revenue | $210,597 |
| Investment income | $2,520,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,893 |
| Net Gain/Loss on Asset Sales | -$38,022 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $116,399 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,724,995 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $323,324 |
| Compensation of current officers, directors, key employees. | $179,964 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,344,244 |
| Pension plan accruals and contributions | $47,950 |
| Other employee benefits | $212,335 |
| Payroll taxes | $16,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,415 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $127,257 |
| Fees for services: Other | $327,259 |
| Advertising and promotion | $187,273 |
| Office expenses | $0 |
| Information technology | $135,798 |
| Royalties | $0 |
| Occupancy | $591,284 |
| Travel | $92,448 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,185 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $866,339 |
| Insurance | $52,968 |
| All other expenses | $0 |
| Total functional expenses | $4,652,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $879,617 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $584,289 |
| Accounts receivable, net | $6,824 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $160,929 |
| Prepaid expenses and deferred charges | $133,514 |
| Net Land, buildings, and equipment | $22,310,980 |
| Investments—publicly traded securities | $22,987,018 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,151,869 |
| Total assets | $48,215,040 |
| Accounts payable and accrued expenses | $265,616 |
| Grants payable | $0 |
| Deferred revenue | $61,169 |
| 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 | $150,009 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,113 |
| Total liabilities | $505,907 |
| Net assets without donor restrictions | $37,395,868 |
| Net assets with donor restrictions | $10,313,265 |
| 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 | $48,215,040 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New Britain Museum Of American Art Inc has recieved totaling $53,004.
| Awarding Organization | Amount |
|---|---|
Charles F Smith Trust Fbo 33-01547-000 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $47,754 |
Trust Ua W T Sloper I 209 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $5,000 |
Konstantin Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $250 |
Endowment Analysis
| Beg. Balance | $27,564,114 |
| Earnings | -$3,294,433 |
| Net Contributions | $262,136 |
| Other Expense | $1,554,613 |
| Ending Balance | $22,977,204 |
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 |