Storm King Art Center
- Assets
- $78.3m
- Revenue
- $8.4m
- Investments
- $14.7m
- Employees
- 117
- Location
- New Windsor, NY
- Founding
- 11/1961
- Data as of
- 12/2023
- EIN
- 14-1457573
Organization Overview
Storm King Art Center is located in New Windsor, NY. The organization was established in 1961. 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 12/2023, Storm King Art Center employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Storm King Art Center 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 12/2023, Storm King Art Center generated $8.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $9.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EXHIBIT, ACQUIRE, BORROW, AND CONSERVE MODERN AND CONTEMPORARY ART IN ITS EXPANSIVE LANDSCAPE.
Describe the Organization's Program Activity:
MUSEUM EXHIBITIONS AND OPERATIONS: STORM KING DISPLAYS, INTERPRETS, AND SELECTIVELY COLLECTS SIGNIFICANT MODERN AND CONTEMPORARY ARTWORK. STORM KING'S DISPLAY INCLUDES WORKS FROM ITS COLLECTION, SITE-SPECIFIC COMMISSIONS, LONG-TERM LOANS, AND ANNUAL EXHIBITIONS.
EDUCATION: THROUGH ITS EDUCATION DEPARTMENT AND PUBLIC PROGRAMS, STORM KING INVITES VISITORS OF ALL AGES TO PARTICIPATE AND EXPERIENCE ART AND NATURE. DEEPER LEARNING AND RESEARCH IS MADE POSSIBLE THROUGH A WIDE RANGE OF PARTNERSHIPS, PUBLICATIONS, AND ARCHIVAL INITIATIVES.
COLLECTION CONSERVATION: STORM KING IS COMMITTED TO CONSERVING ITS COLLECTION FOR LONG-TERM DISPLAY OUTDOORS AND FOR EDUCATIONAL OPPORTUNITIES FOR OUR GROWING AUDIENCE. TO THIS END, STORM KING STRIVES TO MAINTAIN THE HIGHEST STANDARDS OF SITE SECURITY, ENVIRONMENTAL CONTROL, AND CONSERVATION PRACTICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John P Stern President | OfficerTrustee | 40 | $359,563 |
Roberta Denning Chair | OfficerTrustee | 2 | $0 |
Hume R Steyer Secretary | OfficerTrustee | 2 | $0 |
David Diamond Treasurer | OfficerTrustee | 2 | $0 |
Christopher Elliman Trustee | Trustee | 2 | $0 |
Cathy Frank Halstead Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Consigli Construction Company Inc Construction Manager | 12/30/23 | $5,948,169 |
Vhb Engineering Surveying And Landscape Architecture | 12/30/23 | $331,124 |
Martin Puryear Sculpture Commission | 12/30/23 | $296,708 |
Envoie Projects Owner Representative | 12/30/23 | $293,750 |
Fitz & Co Inc Marketing Firm | 12/30/23 | $171,420 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $375,980 |
| Fundraising events | $1,167,382 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,392,811 |
| Noncash contributions included in lines 1a–1f | $1,301,212 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,936,173 |
| Total Program Service Revenue | $2,548,483 |
| Investment income | $591,355 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $269,971 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,856 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,437,388 |
| 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. | $938,508 |
| Compensation of current officers, directors, key employees. | $93,851 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,786,715 |
| Pension plan accruals and contributions | $107,666 |
| Other employee benefits | $532,084 |
| Payroll taxes | $393,546 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $164,140 |
| Fees for services: Accounting | $79,236 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $108,658 |
| Fees for services: Other | $596,265 |
| Advertising and promotion | $164,427 |
| Office expenses | $167,862 |
| Information technology | $177,704 |
| Royalties | $0 |
| Occupancy | $106,308 |
| Travel | $41,532 |
| 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 | $343,861 |
| Insurance | $249,663 |
| All other expenses | $124,963 |
| Total functional expenses | $9,762,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,725,864 |
| Savings and temporary cash investments | $15,823,669 |
| Pledges and grants receivable | $3,870,526 |
| Accounts receivable, net | $73,025 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $323,532 |
| Prepaid expenses and deferred charges | $222,136 |
| Net Land, buildings, and equipment | $25,803,672 |
| Investments—publicly traded securities | $15,765,580 |
| Investments—other securities | $14,669,405 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $78,277,409 |
| Accounts payable and accrued expenses | $1,859,594 |
| 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 | $1,859,594 |
| Net assets without donor restrictions | $42,633,336 |
| Net assets with donor restrictions | $33,784,479 |
| 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 | $78,277,409 |