Glenstone Foundation
- Assets
- $1.9b
- Revenue
- $370.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Potomac, MD
- Founding
- 07/2007
- Data as of
- 12/2019
- EIN
- 20-5938416
Organization Overview
Glenstone Foundation is located in Potomac, MD. The organization was established in 2007. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Glenstone Foundation generated $370.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $36.4m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Glenstone Foundation has awarded 26 individual grants totaling $1,974,307. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLENSTONE FOUNDATION WAS CREATED AS A NON-PROFIT CORPORATION TO SUPPORT PUBLIC AND EDUCATIONAL EXHIBITIONS OF ART, TO PROMOTE THE STUDY, IMPROVEMENT AND ADVANCEMENT OF THE ARTS, AND TO FOSTER RESEARCH OF ART.THE FOUNDATION, WHICH INCLUDES A MUSEUM OF CONTEMPORARY ART AND OUTDOOR SCULPTURES, IS LOCATED IN MONTGOMERY COUNTY, MD, NEAR WASHINGTON, DC AND PROVIDES A CONTEMPLATIVE, INTIMATE SETTING FOR EXPERIENCING WORKS OF ART, ARCHITECTURE, AND NATURE. OPEN TO THE PUBLIC FOUR DAYS WEEKLY, THE MUSEUM PRESENTS SELECTIONS FROM AN ART COLLECTION OF SIGNIFICANT DEPTH AND BREADTH, AS WELL AS MONUMENTAL OUTDOOR SCULPTURES WITHIN ITS LANDSCAPE. ADMISSION IS FREE TO ALL VISITORS AND ITS SCHOOL PROGRAM ALSO PROVIDES TRANSPORTATION FOR LOCAL STUDENTS. AN ACTIVE LOAN PROGRAM MAKES ITS ARTWORK AVAILABLE TO MUSEUMS AROUND THE WORLD. THE FOUNDATION DOES NOT ACCEPT GRANT APPLICATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Cerveny Chief Operating Officer | 50 | $242,664 | |
Laura Linton Chief Administrative Officer | 50 | $229,654 | |
Mary Beth Tsikalas Director Of Finance & Hr | 50 | $169,825 | |
Maria Mizes Hickey Dir Registration | 50 | $150,133 | |
Martin Lotz Dir Of Facilities | 50 | $136,708 | |
Paul Tukey Chief Sustain Off | 50 | $134,569 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Katten Muchin Llp | 12/30/19 | $5,024,918 |
Aquatic Resource Restoration Company | 12/30/19 | $2,110,564 |
Tanenholz & Associates Pllc | 12/30/19 | $1,121,455 |
Mark G Anderson Consultants | 12/30/19 | $545,099 |
Crozier Fine Arts Inc | 12/30/19 | $725,879 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $181,663,157 |
| Interest on Savings | $2,353 |
| Dividends & Interest | $17,500 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $187,856,034 |
| Capital Gain Net Income | $187,856,034 |
| Net ST Capital Gain | $0 |
| Income Modifications | $12,797,995 |
| Profit on Inventory Sales | $483,680 |
| Other Income | $15,000 |
| Total Revenue | $370,037,724 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $642,143 |
| Other employee salaries and wages | $6,486,773 |
| Pension plans, employee benefits | $1,218,149 |
| Interest | $214,899 |
| Taxes | $2,297,598 |
| Depreciation | $10,147,496 |
| Occupancy | $700,064 |
| Travel, conferences, and meetings | $194,197 |
| Printing and publications | $132,375 |
| Other expenses | $4,228,551 |
| Total operating and administrative expenses | $35,814,658 |
| Contributions, gifts, grants paid | $544,607 |
| Total expenses and disbursements | $36,359,265 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,589,410 |
| Savings and temporary cash investments | $656 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $666,303 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $375,077,883 |
| Other assets | $1,556,989,022 |
| Total assets | $1,935,323,274 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $5,847 |
| Total liabilities | $5,847 |
Grants Awarded
Over the last fiscal year, Glenstone Foundation has awarded $544,607 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
WHITNEY MUSEUM PURPOSE: SUPPORT THE ARTS | $250,379 |
Washington, DC PURPOSE: SUPPORT THE ARTS | $225,338 |
FOUNDATION FOR CONTEMPORARY ARTS PURPOSE: SUPPORT THE ARTS | $55,520 |
KING BAUDOUIN FDN UNITED STATES PURPOSE: SUPPORT THE ARTS | $11,061 |
UNITED WAY OF NATIONAL CAPITAL AREA PURPOSE: GENERAL SUPPORT | $2,084 |
WALT WHITMAN HIGH SCHOOL PURPOSE: SUPPORT THE ARTS | $225 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glenstone Foundation Potomac, MD | $1,935,323,274 | $370,037,724 |
Textile Rental Services Association Of America Inc Alexandria, VA | $11,202,361 | $5,824,119 |
Manchester Craftsmens Guild Pittsburgh, PA | $13,899,857 | $4,392,094 |
Clay Studio Philadelphia, PA | $10,534,838 | $2,564,302 |
Unite Local 10 & Textile Maint Ind Philadelphia & Vicinity Welfare Philadelphia, PA | $4,216,773 | $2,630,587 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $3,409,888 | $2,667,126 |
Virginia Museum Of Contemporary Art Virginia Beach, VA | $2,057,712 | $1,961,738 |
Friends Of Southwest Virginia Abingdon, VA | $817,690 | $1,751,052 |
Life Pieces To Masterpieces Washington, DC | $694,672 | $1,837,950 |
Pittsburgh Glass Center Inc Pittsburgh, PA | $4,535,044 | $2,897,806 |
Virginia Center For The Creative Arts Amherst, VA | $7,558,381 | $4,117,617 |
James Craft & Son Employee Benefit Trust York Haven, PA | $331,954 | $1,316,958 |