Indianapolis Museum Of Art Inc
- Assets
- $469.3m
- Revenue
- $50.9m
- Investments
- $276.4m
- Employees
- 483
- Location
- Indianapolis, IN
- Founding
- 07/1937
- Data as of
- 06/2020
- EIN
- 35-0867955
Organization Overview
Indianapolis Museum Of Art Inc, operating under the name Newfields, is located in Indianapolis, IN. The organization was established in 1937. 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, Newfields employed 483 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, Newfields generated $50.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $35.7m during the year ending 06/2020. While expenses have increased by 0.5% 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
TO ENRICH LIVES THROUGH EXCEPTIONAL EXPERIENCES WITH ART AND NATURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL - THE STUDY, PRESERVATION AND COLLECTION OF ART FOR THE ENJOYMENT OF FUTURE GENERATIONS.
EDUCATIONAL - TO COMMUNICATE AND DEVELOP KNOWLEDGE ABOUT THE ART COLLECTED, TO MEMBERS OF THE GENERAL PUBLIC.
HORTICULTURAL - NEWFIELDS FOSTERS EXPLORATION NOT ONLY OF THE ART IN ITS MUSEUM COLLECTIONS, BUT ALSO OF THE NATURAL ENVIRONMENT AND THE HISTORIC PROPERTIES FOR WHICH NEWFIELDS HAS BEEN GIVEN STEWARDSHIP.
MUSEUM STORE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Venable Melvin & Bren Simon Dir & CEO | OfficerTrustee | 50 | $821,538 |
Kim Gattle Deputy Dir - Instl Advancement | 50 | $223,128 | |
Kathryn Haigh Chief Operating Officer | Officer | 60 | $216,850 |
Jeremiah Wise CFO | Officer | 50 | $214,384 |
Preston Bautista Deputy Dir For Public Programs | 40 | $194,620 | |
Jonathan Wright Deputy Dir - Horticulture | 50 | $166,861 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sovereign Landscape Llc Construction | 6/29/20 | $306,813 |
Diverse Excellence Technology Llc It Consulting | 6/29/20 | $1,065,232 |
Blockhouse Studios Video Production | 6/29/20 | $579,165 |
Milestone Contractors Lp Contractor | 6/29/20 | $140,275 |
Bkd Llp Accounting Services | 6/29/20 | $121,866 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $936,867 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $470,981 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,737,485 |
| Noncash contributions included in lines 1a–1f | $2,586,974 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,145,333 |
| Total Program Service Revenue | $5,404,090 |
| Investment income | $1,390,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$118,702 |
| Net Gain/Loss on Asset Sales | $22,642,388 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $424,556 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,888,212 |
| 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. | $1,350,211 |
| Compensation of current officers, directors, key employees. | $675,105 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,853,840 |
| Pension plan accruals and contributions | $412,355 |
| Other employee benefits | $1,530,275 |
| Payroll taxes | $898,902 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,030 |
| Fees for services: Accounting | $70,258 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,983,400 |
| Fees for services: Other | $2,921,474 |
| Advertising and promotion | $644,812 |
| Office expenses | $1,082,091 |
| Information technology | $15,726 |
| Royalties | $0 |
| Occupancy | $1,085,270 |
| Travel | $326,479 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,293 |
| Interest | $2,613,573 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,603,208 |
| Insurance | $461,394 |
| All other expenses | $0 |
| Total functional expenses | $35,655,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,283 |
| Savings and temporary cash investments | $2,821,666 |
| Pledges and grants receivable | $13,990,817 |
| Accounts receivable, net | $603,829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $460,698 |
| Prepaid expenses and deferred charges | $679,928 |
| Net Land, buildings, and equipment | $88,419,380 |
| Investments—publicly traded securities | $69,572,173 |
| Investments—other securities | $276,404,186 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,363,398 |
| Total assets | $469,323,358 |
| Accounts payable and accrued expenses | $1,188,320 |
| Grants payable | $0 |
| Deferred revenue | $746,254 |
| Tax-exempt bond liabilities | $73,891,786 |
| 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 | $2,878,500 |
| Other liabilities | $1,527,698 |
| Total liabilities | $80,232,558 |
| Net assets without donor restrictions | $87,935,400 |
| Net assets with donor restrictions | $301,155,400 |
| 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 | $469,323,358 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Indianapolis Museum Of Art Inc has recieved totaling $11,687,284.
| Awarding Organization | Amount |
|---|---|
Lilly Endowment Inc Indianapolis, IN PURPOSE: LUMINARIUM IMMERSIVE DIGITAL ART | $6,995,500 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: EMPLOYEE MATCHING GIFT(S) | $2,344,500 |
Myrta J Pulliam Charitable Tr Indianapolis, IN PURPOSE: GENERAL | $550,000 |
Arts Council Of Indianapolis Inc Indianapolis, IN PURPOSE: ARTS PROGRAMMING & COVID RELIEF | $515,392 |
Arts Council Of Indianapolis Inc Indianapolis, IN PURPOSE: ARTS PROGRAMMING & COVID RELIEF | $515,392 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: GENERAL OPERATING SUPPORT | $500,000 |
Endowment Analysis
| Beg. Balance | $335,721,000 |
| Earnings | $707,000 |
| Admin Expense | $2,766,743 |
| Net Contributions | $7,741,000 |
| Other Expense | $14,009,257 |
| Ending Balance | $327,393,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nelson Gallery Foundation Kansas City, MO | $572,182,849 | $35,543,070 |
Indianapolis Museum Of Art Inc Indianapolis, IN | $469,323,358 | $50,888,212 |
Milwaukee Art Museum Inc Milwaukee, WI | $150,239,516 | $22,991,064 |
Museum Of Contemporary Art Chicago, IL | $231,693,659 | $26,817,111 |
J B Speed Art Museum Louisville, KY | $131,159,985 | $8,399,423 |
Jayne Wrightsman Irr Trust Xxxxx7008 Chicago, IL | $23,809,573 | $29,559,094 |
Kemper Museum Operating Foundation Kansas City, MO | $20,253,467 | $4,016,281 |
Madison Museum Of Contemporary Art Inc Madison, WI | $16,871,643 | $2,196,358 |
Fort Wayne Museum Of Art Inc Fort Wayne, IN | $13,868,779 | $2,838,599 |
Paine Art Center & Gardens Inc Oshkosh, WI | $21,344,323 | $1,712,969 |
Racine Art Museum Association Inc Racine, WI | $12,662,826 | $1,985,211 |
Elmhurst Art Museum Elmhurst, IL | $2,240,198 | $1,039,559 |