Nelson Gallery Foundation
- Assets
- $591.7m
- Revenue
- $10.4m
- Investments
- $181.5m
- Employees
- 488
- Location
- Kansas City, MO
- Founding
- 07/1957
- Data as of
- 04/2023
- EIN
- 44-6012977
Organization Overview
Nelson Gallery Foundation is located in Kansas City, MO. The organization was established in 1957. 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 04/2023, Nelson Gallery Foundation employed 488 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nelson Gallery Foundation 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 04/2023, Nelson Gallery Foundation generated $10.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $41.7m during the year ending 04/2023. 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
ENCOURAGEMENT OF PUBLIC INTEREST IN ART.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Chair | OfficerTrustee | 3 | $0 |
Name Not Listed Board Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Board Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Food & Vending Vendor Services | 4/29/23 | $1,608,677 |
True North Outdoor Llc Lawn Services | 4/29/23 | $314,158 |
Marvin Suarez Janitorial Services | 4/29/23 | $305,225 |
Lippert Mechanical Service Corp Equip. Services | 4/29/23 | $292,134 |
Convergeone Inc Consulting | 4/29/23 | $268,554 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,369,278 |
| Fundraising events | $2,296,184 |
| Related organizations | $1,900,079 |
| Government grants | $276,950 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,692,431 |
| Noncash contributions included in lines 1a–1f | $132,869 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,534,922 |
| Total Program Service Revenue | $1,740,592 |
| Investment income | $1,634,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,907 |
| Net Rental Income | $3,300 |
| Net Gain/Loss on Asset Sales | -$11,571,506 |
| Net Income from Fundraising Events | -$417,764 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $796,234 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,381,523 |
| 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. | $994,757 |
| Compensation of current officers, directors, key employees. | $329,114 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,316,273 |
| Pension plan accruals and contributions | $672,310 |
| Other employee benefits | $2,214,574 |
| Payroll taxes | $961,837 |
| Fees for services: Management | $242,128 |
| Fees for services: Legal | $278,341 |
| Fees for services: Accounting | $140,132 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,154,875 |
| Fees for services: Other | $5,168,605 |
| Advertising and promotion | $245,039 |
| Office expenses | $2,483,701 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,776,779 |
| Travel | $410,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,905,552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,023,677 |
| Insurance | $320,720 |
| All other expenses | $0 |
| Total functional expenses | $41,720,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,253,082 |
| Savings and temporary cash investments | $3,847,753 |
| Pledges and grants receivable | $59,004,578 |
| Accounts receivable, net | $102,418 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $94,111 |
| Prepaid expenses and deferred charges | $104,973 |
| Net Land, buildings, and equipment | $175,390,646 |
| Investments—publicly traded securities | $156,725,614 |
| Investments—other securities | $181,538,804 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,618,085 |
| Total assets | $591,680,064 |
| Accounts payable and accrued expenses | $3,655,571 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $125,501,791 |
| 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 | $129,157,362 |
| Net assets without donor restrictions | $255,448,129 |
| Net assets with donor restrictions | $207,074,573 |
| 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 | $591,680,064 |