Fenimore Art Museum
- Assets
- $63.5m
- Revenue
- $3.8m
- Investments
- $41.9m
- Employees
- 107
- Location
- New York, NY
- Founding
- 07/1941
- Data as of
- 12/2021
- EIN
- 15-0539110
Organization Overview
Fenimore Art Museum is located in New York, NY. The organization was established in 1941. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Fenimore Art Museum employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fenimore 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 12/2021, Fenimore Art Museum generated $3.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVING, ENGAGING, AND EDUCATING.
Describe the Organization's Program Activity:
MUSEUM-EXHIBITION OF ART WORK COLLECTIONS.
EDUCATION-PROMOTE HISTORICAL LEARING AND UNDERSTANDING.
PUBLICATIONS-TO PROMOTE AND ENCOURAGE HISTORICAL RESEARCH BY MEANS OF LECTURES PUBICATIONS AND DISTRIBUTION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D'ambrosio President | Officer | 20 | $188,626 |
Joseph Siracusa Vice President | Officer | 20 | $93,859 |
Stephen Duff Assistant Treasurer | OfficerTrustee | 0.1 | $0 |
Jeffrey Pressman Chairman/ Director | OfficerTrustee | 0.1 | $0 |
Charles Kieler Director | OfficerTrustee | 0.1 | $0 |
Anthony Fasano Treasurer | Officer | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Clark Estates Inc Management Fees | 12/30/21 | $533,872 |
Fw Dennis Roofing Repairs | 12/30/21 | $235,345 |
Rose & Kiernan Employee Insurance | 12/30/21 | $292,788 |
Paperkite Creative Llc Marketing | 12/30/21 | $213,417 |
Key Bank Financial Services | 12/30/21 | $189,671 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $169,323 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $165,574 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,544,077 |
| Noncash contributions included in lines 1a–1f | $215,186 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,878,974 |
| Total Program Service Revenue | $529,470 |
| Investment income | $195,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,249,900 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,838,046 |
| 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. | $282,485 |
| Compensation of current officers, directors, key employees. | $282,485 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $780,401 |
| Pension plan accruals and contributions | $63,504 |
| Other employee benefits | $422,822 |
| Payroll taxes | $0 |
| Fees for services: Management | $673,581 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,304 |
| Advertising and promotion | $152,872 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $19,188 |
| 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 | $313,989 |
| Insurance | $188,769 |
| All other expenses | $552,764 |
| Total functional expenses | $4,356,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,209,114 |
| Pledges and grants receivable | $224,813 |
| Accounts receivable, net | $221,903 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $376,024 |
| Prepaid expenses and deferred charges | $150,387 |
| Net Land, buildings, and equipment | $3,450,120 |
| Investments—publicly traded securities | $4,009,337 |
| Investments—other securities | $41,885,416 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $63,527,114 |
| Accounts payable and accrued expenses | $302,030 |
| Grants payable | $0 |
| Deferred revenue | $343,703 |
| 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 | $645,733 |
| Net assets without donor restrictions | $5,257,048 |
| Net assets with donor restrictions | $57,624,333 |
| 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 | $63,527,114 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Fenimore Art Museum has recieved totaling $306,667.
| Awarding Organization | Amount |
|---|---|
Scriven Foundation New York, NY PURPOSE: SCHOLARSHIP SUPPORT FOR COOPERSTOWN GRADUATE PROGRAM AND COOPERSTOWN GETAWAY PROGRAM | $280,000 |
John Ben Snow Memorial Tr Pittsburgh, PA PURPOSE: ARTS AND CULTURE | $15,000 |
Richland County Foundation Of Mansfield Mansfield, OH PURPOSE: YOUTH PROGRAMS | $11,667 |
Endowment Analysis
| Beg. Balance | $46,302,968 |
| Earnings | $1,444,910 |
| Admin Expense | $622,410 |
| Other Expense | $1,541,084 |
| Ending Balance | $45,584,384 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gettysburg Foundation Gettysburg, PA | $96,770,268 | $15,954,577 |
National Constitution Center Philadelphia, PA | $153,929,623 | $18,487,505 |
Society For The Preservation Of New England Antiquities Inc Boston, MA | $149,018,347 | $24,101,977 |
Museum Of Jewish Heritage A Living Memorial To The Holocaust New York, NY | $55,434,280 | $9,656,219 |
Museum Of The American Revolution Philadelphia, PA | $136,106,228 | $14,346,373 |
National Baseball Hall Of Fame And Museum Inc Cooperstown, NY | $59,891,798 | $13,912,990 |
Museum Of The City Of New York New York, NY | $66,852,822 | $13,898,529 |
Old Sturbridge Inc Sturbridge, MA | $21,603,377 | $13,063,304 |
Plimoth Patuxet Museums Inc Plymouth, MA | $39,663,068 | $8,933,676 |
Lower East Side Tenement Museum New York, NY | $36,923,048 | $8,687,426 |
Historic Deerfield Inc Deerfield, MA | $76,973,698 | $8,334,092 |
Heritage Plantation Of Sandwich Inc Sandwich, MA | $34,658,032 | $6,604,835 |