Wichita Art Museum Inc
- Assets
- $12.2m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 61
- Location
- Wichita, KS
- Founding
- 09/2014
- Data as of
- 12/2020
- EIN
- 48-1157680
Organization Overview
Wichita Art Museum Inc is located in Wichita, KS. The organization was established in 2014. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Wichita Art Museum Inc employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wichita Art Museum 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 12/2020, Wichita Art Museum Inc generated $4.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $4.8m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 5 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 PROVIDE A SAFE AND ACCLIMATIZED ENVIRONMENT FOR THE STORAGE, CONSERVATION AND RESPECTFUL DISPLAY OF THE PERMANENT COLLECTION OF THE MUSEUM AS WELL AS BORROWED OR LOANED WORKS OF ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WICHITA ART MUSEUM, INC OPERATES AND MANAGES NUMEROUS ACTIVITIES, EXHIBITIONS AND PROGRAMS FOR THE CITY OF WICHITA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Mcdonnell Exec. Director | Officer | 40 | $244,243 |
Naama Marcos Secretary | Trustee | 1 | $0 |
Jeff Van Sickle Imediate Past Chair | Trustee | 1 | $0 |
Lathi DE Silva Director | Trustee | 1 | $0 |
Lou Heldman Vice Chair | Trustee | 1 | $0 |
Alex Williams Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,874,632 |
| Investment income | $421,204 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,522,280 |
| 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. | $236,614 |
| Compensation to disqualified persons | $1,389,779 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $430,224 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $47,023 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,485 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,061 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $96,639 |
| All other expenses | $0 |
| Total functional expenses | $4,832,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,289,542 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,253 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $74,302 |
| Prepaid expenses and deferred charges | $35,450 |
| Investments—publicly traded securities | $8,724,421 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,198,968 |
| Accounts payable and accrued expenses | $514,830 |
| 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 | $514,830 |
| 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 | $11,684,138 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wichita Art Museum Inc has recieved totaling $43,000.
| Awarding Organization | Amount |
|---|---|
Edward Mosby Lincoln Foundation Wichita, KS PURPOSE: OPERATING FUND FOR OTHER PUBLIC CHARITY | $28,000 |
Dwayne And Dottie Shannon Family Foundation Wichita, KS PURPOSE: GENERAL | $15,000 |
Endowment Analysis
| Beg. Balance | $6,003,019 |
| Earnings | $1,004,892 |
| Admin Expense | $48,916 |
| Other Expense | $557,318 |
| Ending Balance | $6,401,677 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cedars Youth Services Inc Lincoln, NE | $3,781,536 | $13,267,342 |
Arvada Center For The Arts And Humanities Arvada, CO | $4,050,578 | $14,173,425 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Applied Information Management Institute Omaha, NE | $8,071,442 | $4,851,557 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
Wichita Art Museum Inc Wichita, KS | $12,198,968 | $4,522,280 |
Association Of American Voices Saint Louis, MO | $696,688 | $3,487,679 |
Mizel Center For Arts And Culture Denver, CO | $1,231,289 | $3,287,968 |
Lawrence Arts Center Inc Lawrence, KS | $4,356,263 | $3,080,758 |
Breckenridge Creative Arts Breckenridge, CO | $2,416,753 | $3,508,124 |
Seriesfest Denver, CO | $743,501 | $1,745,266 |
Sangre De Cristo Arts & Conference Center Inc Pueblo, CO | $10,967,015 | $4,351,020 |