Fort Wayne Museum Of Art Inc
- Assets
- $14.1m
- Revenue
- $5.0m
- Investments
- $233.5k
- Employees
- 38
- Location
- Fort Wayne, IN
- Founding
- 02/1942
- Data as of
- 06/2022
- EIN
- 35-0953440
Organization Overview
Fort Wayne Museum Of Art Inc is located in Fort Wayne, IN. The organization was established in 1942. 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 06/2022, Fort Wayne Museum Of Art Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Wayne Museum Of Art Inc 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 06/2022, Fort Wayne Museum Of Art Inc generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 1.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FORT WAYNE MUSEUM OF ART WILL COLLECT, PRESERVE AND PRESENT AMERICAN AND RELATED ART TO ENGAGE AND EDUCATE BROAD AND DIVERSE AUDIENCES THROUGHOUT THE REGION AND ADD VALUE TO THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL - FOR THE EDUCATION AND ENJOYMENT OF OUR CONSTITUENTS, WE ACQUIRE, CARE FOR AND PRESENT WORKS OF ART DRAWN FROM THE PERMANENT COLLECTION, COMBINED WITH EXHIBITS WE HAVE DEVELOPED OURSELVES, AND EXHIBITS CREATED BY OTHER INSTITUTIONS.
EDUCATION - WE PRESENT ADULT, COLLEGE, AND CHILDREN'S K-12 ONSITE AND OUTREACH PROGRAMS, EXHIBITIONS, WORKSHOPS, LECTURES, PANEL DISCUSSIONS, TOURS, SEMINARS AND SPECIAL EVENTS.
MARKETING & DEVELOPMENT - WE DEVELOP AND PROMOTE AN INTEGRATED STRATEGY TO INCREASE OUR AUDIENCES' INTEREST, APPRECIATION AND UNDERSTANDING OF AMERICA'S HISTORICAL AND CONTEMPORARY ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles A Shepard III President & | Officer | 40 | $187,942 |
Lon Braun Vice Preside | Officer | 40 | $93,000 |
Heather Schoegler Secretary | OfficerTrustee | 1 | $0 |
Judy Roy Treasurer | OfficerTrustee | 1 | $0 |
Ellen Cutter Chair | OfficerTrustee | 1 | $0 |
Ryan Fox Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $118,688 |
| Fundraising events | $339,566 |
| Related organizations | $0 |
| Government grants | $474,510 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,324,185 |
| Noncash contributions included in lines 1a–1f | $142,866 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,256,949 |
| Total Program Service Revenue | $113,541 |
| Investment income | $251,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,003 |
| Net Gain/Loss on Asset Sales | $311,439 |
| Net Income from Fundraising Events | -$89,410 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $104,486 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,976,518 |
| 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. | $305,751 |
| Compensation of current officers, directors, key employees. | $214,010 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $945,995 |
| Pension plan accruals and contributions | $11,092 |
| Other employee benefits | $124,641 |
| Payroll taxes | $90,000 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,800 |
| Fees for services: Accounting | $16,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $67,436 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,696 |
| Office expenses | $71,650 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $216,981 |
| Travel | $6,566 |
| 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 | $221,985 |
| Insurance | $25,504 |
| All other expenses | $66,035 |
| Total functional expenses | $2,980,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,752,404 |
| Savings and temporary cash investments | $92,946 |
| Pledges and grants receivable | $228,333 |
| Accounts receivable, net | $15,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,235 |
| Inventories for sale or use | $12,851 |
| Prepaid expenses and deferred charges | $39,149 |
| Net Land, buildings, and equipment | $4,500,945 |
| Investments—publicly traded securities | $7,261,401 |
| Investments—other securities | $233,541 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,143,825 |
| Accounts payable and accrued expenses | $117,650 |
| Grants payable | $0 |
| Deferred revenue | $30,600 |
| 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 | $148,250 |
| Net assets without donor restrictions | $7,864,279 |
| Net assets with donor restrictions | $6,131,296 |
| 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 | $14,143,825 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Fort Wayne Museum Of Art Inc has recieved totaling $18,000.
| Awarding Organization | Amount |
|---|---|
Tim And Libby Ash Family Foundation Inc Fort Wayne, IN PURPOSE: TO COLLECT, PRESERVE, PRESENT AND INTERPRET AMERICAN ART TO DIVERSE AUDIENCES | $14,500 |
Patricia Adsit Foundation Inc Fort Wayne, IN PURPOSE: SUPPORT | $2,500 |
Demarchis Family Foundation Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $7,367,234 |
| Earnings | -$957,179 |
| Net Contributions | $2,079,000 |
| Other Expense | $349,134 |
| Ending Balance | $8,140,921 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Art Museum Inc Milwaukee, WI | $162,007,595 | $17,721,477 |
J B Speed Art Museum Louisville, KY | $144,061,757 | $14,473,949 |
Jayne Wrightsman Irr Trust Xxxxx7008 Chicago, IL | $23,809,573 | $29,559,094 |
Kemper Museum Operating Foundation Kansas City, MO | $21,285,156 | $4,170,305 |
Madison Museum Of Contemporary Art Inc Madison, WI | $15,382,994 | $2,302,239 |
Fort Wayne Museum Of Art Inc Fort Wayne, IN | $14,143,825 | $4,976,518 |
Paine Art Center & Gardens Inc Oshkosh, WI | $23,894,891 | $2,871,435 |
Racine Art Museum Association Inc Racine, WI | $13,099,169 | $1,971,714 |
Springfield Art Association Of Edwards Place Springfield, IL | $2,184,986 | $1,710,598 |
Charlotte Street Foundation Kansas City, MO | $10,563,973 | $1,645,479 |
South Bend Museum Of Art Inc South Bend, IN | $2,880,616 | $3,203,304 |
Bergstrom-Mahler Museum Inc Neenah, WI | $17,360,409 | $1,558,977 |