Frick Collection is located in New York, NY. The organization was established in 1939. 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, Frick Collection employed 370 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, Frick Collection generated $72.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $43.4m during the year ending 06/2020. While expenses have increased by 0.1% 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
THE FRICK COLLECTION (THE "COLLECTION") OPERATES AN INTERNATIONALLY RECOGNIZED ART MUSEUM AND LIBRARY PROGRAM FOR THE INSPIRATION AND ENJOYMENT OF THE PUBLIC AND FOR THE ADVANCEMENT OF THE STUDY OF FINE ARTS AND KINDRED SUBJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM PROGRAM: THE COLLECTION MAINTAINS AND CONSERVES OVER 1,100 WORKS OF ART AS PART OF ITS PERMANENT ART COLLECTION AND THE HISTORIC INTERIORS OF THE GILDED AGE MANSION THAT HOUSES THEM. THE PERMANENT ART COLLECTION IS MADE ACCESSIBLE TO THE PUBLIC THROUGH EXHIBITIONS, RESEARCH, AND PUBLICATIONS, AS WELL AS AN ARRAY OF EDUCATION PROGRAMS THAT SEEK TO DEEPEN THE PUBLIC'S KNOWLEDGE AND APPRECIATION FOR WORKS OF ART IN THE PERMANENT COLLECTION AND ART GENERALLY. MUSEUM ATTENDANCE DURING THE 2019 TAX YEAR WAS APPROXIMATELY 170,000 VISITORS. THE MUSEUM CLOSED TO THE PUBLIC ON THURSDAY, MARCH 12, 2020 IN SUPPORT OF NEW YORK CITYS EFFORT TO CONTAIN COVID-19. SEE SCHEDULE O FOR A DESCRIPTION OF THE SPECIAL EXHIBITIONS AND OTHER PUBLIC EDUCATION PROGRAMS OFFERED DURING THE YEAR.
LIBRARY PROGRAM: IN ADDITION TO SERVING THE CURATORIAL AND OTHER RESEARCH STAFF OF THE COLLECTION, THE FRICK ART REFERENCE LIBRARY SERVES MEMBERS OF GENERAL PUBLIC WITH AN INTEREST IN ART, INCLUDING STUDENTS, SCHOLARS, ART PROFESSIONALS, AND COLLECTORS. THE LIBRARY'S BOOK AND PHOTOGRAPH RESEARCH COLLECTIONS RELATE CHIEFLY TO PAINTINGS, DRAWINGS, SCULPTURE, PRINTS, AND ILLUMINATED MANUSCRIPTS FROM THE FOURTH TO THE MID-TWENTIETH CENTURIES BY EUROPEAN AND AMERICAN ARTISTS. ARCHIVAL MATERIALS AND SPECIAL COLLECTIONS AUGMENT THE RESEARCH COLLECTIONS WITH DOCUMENTS PERTAINING TO THE HISTORY OF COLLECTING ART AND OF HENRY CLAY FRICK'S COLLECTING IN PARTICULAR. DURING THE 2019 TAX YEAR, THE LIBRARY SERVED 4,395 VISITORS, RESPONDED TO 957 EMAIL INQUIRIES AND ANSWERED 3,424 ON-SITE RESEARCH QUESTIONS. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ian Wardropper Director & CEO | Officer | 35 | $828,140 |
Katharine Chapman Deputy Director External Affairs | 35 | $293,879 | |
Michael Paccione CFO & Ast. Trea | Officer | 35 | $283,374 |
Alison Lonshein Gc & Asst. Sec | Officer | 35 | $277,945 |
Joseph Shatoff Deputy Director & COO | 35 | $265,740 | |
Xavier Salomon Peter Jay Sharp Chief Curator | 35 | $238,081 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Beyer Blinder Belle Architect | 6/29/20 | $4,079,892 |
Kramer Levin Naftalis & Frankel Legal | 6/29/20 | $890,592 |
Selldorf Architects Architect | 6/29/20 | $1,374,198 |
Sciame Construction Llc Construction Management | 6/29/20 | $772,088 |
Cambridge Associates Llc Endowment Consulting | 6/29/20 | $710,641 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $1,684,383 |
Fundraising events | $1,456,492 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $52,201,147 |
Noncash contributions included in lines 1a–1f | $2,272,177 |
Total Revenue from Contributions, Gifts, Grants & Similar | $55,342,022 |
Total Program Service Revenue | $2,746,206 |
Investment income | $2,500,896 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $1,067 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $11,535,410 |
Net Income from Fundraising Events | -$197,362 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $424,086 |
Miscellaneous Revenue | $0 |
Total Revenue | $72,415,948 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $34,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,381,826 |
Compensation of current officers, directors, key employees. | $1,397,309 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $14,166,663 |
Pension plan accruals and contributions | $1,458,618 |
Other employee benefits | $3,381,568 |
Payroll taxes | $1,246,545 |
Fees for services: Management | $0 |
Fees for services: Legal | $189,563 |
Fees for services: Accounting | $123,061 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $70,000 |
Fees for services: Investment Management | $1,751,308 |
Fees for services: Other | $0 |
Advertising and promotion | $237,065 |
Office expenses | $345,038 |
Information technology | $423,233 |
Royalties | $0 |
Occupancy | $764,120 |
Travel | $196,786 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $176,627 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,706,901 |
Insurance | $281,170 |
All other expenses | $1,372,072 |
Total functional expenses | $43,385,006 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $42,534,396 |
Pledges and grants receivable | $54,263,281 |
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 | $545,679 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $49,336,415 |
Investments—publicly traded securities | $120,280,557 |
Investments—other securities | $188,562,759 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $5,462,882 |
Total assets | $460,985,969 |
Accounts payable and accrued expenses | $3,852,145 |
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 | $37,685,034 |
Total liabilities | $41,537,179 |
Net assets without donor restrictions | $238,008,454 |
Net assets with donor restrictions | $181,440,336 |
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 | $460,985,969 |
Over the last fiscal year, we have identified 36 grants that Frick Collection has recieved totaling $488,622.
Awarding Organization | Amount |
---|---|
Woodland Foundation Inc New York, NY PURPOSE: ANNUAL EXPENSES | $125,000 |
A Woodner Fund Inc New York, NY PURPOSE: ART MUSEUM | $53,000 |
Kleinschmidt Family Foundation Vero Beach, FL PURPOSE: UNRESTRICTED | $48,915 |
Kleinschmidt Family Foundation Vero Beach, FL PURPOSE: UNRESTRICTED | $48,915 |
Alexis Gregory Foundation New York, NY PURPOSE: ART PRESERVATION | $30,000 |
Alexis Gregory Foundation New York, NY PURPOSE: ART PRESERVATION | $30,000 |
Beg. Balance | $330,113,789 |
Earnings | $2,904,649 |
Admin Expense | $1,515,260 |
Net Contributions | $794,420 |
Other Expense | $18,660,304 |
Ending Balance | $313,637,294 |
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 |
Philadelphia Museum Of Art Philadelphia, PA | $1,089,326,303 | $111,793,644 |
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 |
Barnes Foundation Philadelphia, PA | $214,994,378 | $24,564,152 |
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 |