George Phippen Memorial Foundation
- Assets
- $7.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 6
- Location
- Prescott, AZ
- Founding
- 11/1976
- Data as of
- 12/2021
- EIN
- 51-0157597
Organization Overview
George Phippen Memorial Foundation is located in Prescott, AZ. The organization was established in 1976. 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 12/2021, George Phippen Memorial Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. George Phippen Memorial 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 12/2021, George Phippen Memorial Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $598.1k during the year ending 12/2021. While expenses have increased by 4.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND EXHIBIT MUSEUM QUALITY WESTERN ART AND EDUCATE THE PUBLIC ABOUT THE UNIQUE HERITAGE, HISTORY, LEGENDS, AND INFLUENCE OF ART OF THE AMERICAN WEST
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE MUSEUM HAD APPROXIMATELY 550 ACTIVE MEMBERS, 4,100 VISITORS, AND ALSO PROVIDED MULTIPLE EDUCATIONAL PROGRAMS AND ART EVENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edd Kellerman Executive Direc | Officer | 40 | $56,652 |
Kevin Pitts Chairman | OfficerTrustee | 1 | $0 |
Donna Gaddis Secretary | OfficerTrustee | 1 | $0 |
Anne Wenzel Treasurer | OfficerTrustee | 2 | $0 |
Julie Rushing Member | Trustee | 1 | $0 |
Karen Robertson Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $60,955 |
| Fundraising events | $32,900 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,403 |
| Noncash contributions included in lines 1a–1f | $97,631 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $251,258 |
| Total Program Service Revenue | $95,586 |
| Investment income | $103,181 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,150 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $202,162 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $34,288 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,117,638 |
| 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. | $56,652 |
| Compensation of current officers, directors, key employees. | $56,652 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $171,102 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $518 |
| Payroll taxes | $17,546 |
| 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 | $5,639 |
| Fees for services: Other | $107,326 |
| Advertising and promotion | $26,050 |
| Office expenses | $41,517 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,866 |
| Travel | $396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,039 |
| Insurance | $14,662 |
| All other expenses | -$48,489 |
| Total functional expenses | $598,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $642,123 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $69,183 |
| Prepaid expenses and deferred charges | $325 |
| Net Land, buildings, and equipment | $2,635,026 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,773,539 |
| Total assets | $7,120,216 |
| Accounts payable and accrued expenses | $15,857 |
| Grants payable | $0 |
| Deferred revenue | $31,152 |
| 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 | $2,670 |
| Total liabilities | $49,679 |
| Net assets without donor restrictions | $6,761,137 |
| Net assets with donor restrictions | $309,400 |
| 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 | $7,120,216 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that George Phippen Memorial Foundation has recieved totaling $30,923.
| Awarding Organization | Amount |
|---|---|
Arizona Community Foundation Phoenix, AZ PURPOSE: PROGRAM SUPPORT | $15,900 |
The Harold James Family Trust Prescott, AZ PURPOSE: AZ RANCHER & COWBOY HALL OF FAME SPONSOR; 2021 MEMORIAL DAY ART SHOW SPONSOR | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $23 |
Endowment Analysis
| Beg. Balance | $583,163 |
| Earnings | $92,774 |
| Admin Expense | $5,639 |
| Grants | $26,800 |
| Ending Balance | $643,498 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Museum Of Modern Art San Francisco, CA | $782,459,375 | $60,826,981 |
Denver Art Museum Inc Denver, CO | $201,676,348 | $57,180,332 |
Asian Art Museum Foundation Of San Francisco San Francisco, CA | $256,031,716 | $41,593,816 |
Armand Hammer Museum Of Art And Cultural Center Inc Los Angeles, CA | $286,371,378 | $27,039,549 |
The Broad Los Angeles, CA | $573,557,667 | $36,313,761 |
Museum Of Contemporary Art Los Angeles, CA | $173,324,238 | $20,204,928 |
San Diego Museum Of Art San Diego, CA | $78,902,831 | $13,995,818 |
Phoenix Art Museum Phoenix, AZ | $7,242,004 | $9,400,156 |
Crocker Art Museum Association Sacramento, CA | $31,464,464 | $12,237,025 |
Aspen Art Museum Aspen, CO | $45,036,257 | $9,544,522 |
Nevada Museum Of Art Inc Reno, NV | $65,871,084 | $23,939,678 |
Georgia Okeeffe Museum Santa Fe, NM | $164,315,725 | $8,795,076 |