Nebraska Art Association
- Assets
- $2.9m
- Revenue
- $406.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 02/1950
- Data as of
- 06/2020
- EIN
- 47-6026671
Organization Overview
Nebraska Art Association is located in Lincoln, NE. The organization was established in 1950. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Nebraska Art Association 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 06/2020, Nebraska Art Association generated $406.3k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $358.4k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 6 years. 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 ADVANCE AND PROMOTE ART AND ART APPRECIATION BY PROMOTING ART EXHIBITS, ACQUIRING WORKS OF ART AND PROMOTING ART EDUCATION TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING OF THE ARTS AND OF ART FOR DISPLAY AT THE SHELDON MUSEUM OF ART
ACQUISITION OF WORKS OF ART FOR DISPLAY AT THE SHELDON MUSEUM OF ART
EXPENSES WERE IN SUPPORT OF THE SHELDON MUSEUM OF ART LOCATED ON THE CAMPUS OF THE UNIVERSITY OF NEBRASKA, LINCOLN, INCLUDING ACTIVITIES FOR MEMBERS OF THE ASSOCIATION INCLUDING PREVIEWS OF ART EXITIBITIONS AND TOURS OF ART EXIBITIONS.
OTHER PROGRAMS INCLUDE COLLECTIONS, EDUCATION, AQUISITIONS, STORE EXPENSES, SOCIAL EVENTS, AND STATEWIDE EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geoffrey Cline Past President | OfficerTrustee | 1 | $0 |
Daniel Grasso Secretary | OfficerTrustee | 1 | $0 |
Cynthia Morris President Elect | OfficerTrustee | 1 | $0 |
Jason Bombeck Treasurer | OfficerTrustee | 1 | $0 |
Jon Gross President | OfficerTrustee | 1 | $0 |
Clay Smith Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $363,064 |
| Investment income | $70,657 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,145 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,684 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $406,320 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,335 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,335 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,565 |
| 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 | $4,506 |
| Insurance | $2,542 |
| All other expenses | $0 |
| Total functional expenses | $358,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $550,020 |
| Pledges and grants receivable | $376,598 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,206 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $2,004,008 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,943,937 |
| Accounts payable and accrued expenses | $64,561 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $64,561 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,879,376 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Nebraska Art Association has recieved totaling $41,598.
| Awarding Organization | Amount |
|---|---|
Lincoln Community Foundation Inc Lincoln, NE PURPOSE: GENERAL SUPPORT | $28,531 |
Unf Charitable Gift Fund Lincoln, NE PURPOSE: CHARITABLE CONTRIBUTION | $12,000 |
Organization Name not Listed PURPOSE: GENERAL & UNRESTRICTED | | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $67 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Denver Art Museum Foundation Denver, CO | $207,954,853 | $33,249,188 |
Opas Foundation Omaha, NE | $216,930,638 | $54,646,266 |
St Louis Art Museum Foundation St Louis, MO | $296,394,608 | $22,752,701 |
Dmns Foundation Denver, CO | $168,202,725 | $31,941,607 |
Clyfford Still Museum Foundation Denver, CO | $160,969,221 | $5,009,227 |
Friends Of South Dakota Public Broadcasting Sioux Falls, SD | $8,253,361 | $5,354,022 |
Des Moines Metro Opera Foundation Inc Indianola, IA | $21,471,212 | $2,429,329 |
World Chess Museum Inc St Louis, MO | $1,624,573 | $2,628,298 |
Helen G Bonfils Foundation Denver, CO | $34,648,703 | $452,300 |
Great Platte River Road Memorial Foundation Kearney, NE | $17,944,245 | $1,032,269 |
Aspen Art Museum Foundation Aspen, CO | $41,258,930 | $3,796,374 |
Rose Blumkin Performing Arts Center Foundation Omaha, NE | $37,047,528 | $67,634 |