Walter Anderson Museum Of Art Incorporated
- Assets
- $3.0m
- Revenue
- $805.6k
- Investments
- $609.1k
- Employees
- 13
- Location
- Ocean Springs, MS
- Founding
- 12/1975
- Data as of
- 12/2021
- EIN
- 51-0173731
Organization Overview
Walter Anderson Museum Of Art Incorporated is located in Ocean Springs, MS. The organization was established in 1975. 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, Walter Anderson Museum Of Art Incorporated employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walter Anderson Museum Of Art Incorporated 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, Walter Anderson Museum Of Art Incorporated generated $805.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $790.1k during the year ending 12/2021. While expenses have increased by 5.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ACQUIRE, PRESERVE, EXHIBIT & EDUCATE ABOUT THE WORKS OF WALTER I ANDERSON AND FAMILY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRE, PRESERVE, EXHIBIT, AND EDUCATE ABOUT THE WORKS OF WALTER I ANDERSON, PETER ANDERSON, AND JAMES MCCONNELL ANDERSON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julian Rankin Executive Di | Trustee | 40 | $117,785 |
Vicki Applewhite President | OfficerTrustee | 1 | $0 |
Rich Westfall Vice Preside | OfficerTrustee | 1 | $0 |
Jamie Dent Treasurer | OfficerTrustee | 1 | $0 |
Misty Shaw-Feder Secretary | OfficerTrustee | 1 | $0 |
Stephanie Barthes Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,057 |
| All other contributions, gifts, grants, and similar amounts not included above | $471,209 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $502,266 |
| Total Program Service Revenue | $159,754 |
| Investment income | $1,156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $57,747 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $84,724 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $805,647 |
| 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. | $117,785 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $210,718 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,818 |
| Payroll taxes | $26,304 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,719 |
| Advertising and promotion | $26,515 |
| Office expenses | $23,607 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,661 |
| Travel | $0 |
| 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 | $72,058 |
| Insurance | $32,077 |
| All other expenses | $24,801 |
| Total functional expenses | $790,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $338,476 |
| Pledges and grants receivable | $0 |
| 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 | $35,111 |
| Prepaid expenses and deferred charges | $6,298 |
| Net Land, buildings, and equipment | $1,993,266 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $609,148 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,982,299 |
| Accounts payable and accrued expenses | $8,071 |
| Grants payable | $0 |
| Deferred revenue | $121,900 |
| 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 | $67,626 |
| Other liabilities | $6,435 |
| Total liabilities | $204,032 |
| Net assets without donor restrictions | $2,596,040 |
| Net assets with donor restrictions | $182,227 |
| 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 | $2,982,299 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Walter Anderson Museum Of Art Incorporated has recieved totaling $28,043.
| Awarding Organization | Amount |
|---|---|
Phil Hardin Foundation Meridian, MS PURPOSE: SPACE BETWEEN THE TREES | $25,000 |
James F Bell Foundation Minneapolis, MN PURPOSE: GENERAL OPERATIONS | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $43 |
Endowment Analysis
| Beg. Balance | $128,910 |
| Earnings | $13,961 |
| Net Contributions | $35,724 |
| Other Expense | $5,000 |
| Ending Balance | $173,595 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crystal Bridges Museum Of American Art Inc Bentonville, AR | $1,732,386,844 | $177,931,616 |
Cheekwood Botanical Garden And Museum Of Art Nashville, TN | $58,316,106 | $17,726,545 |
New Orleans Museum Of Art New Orleans, LA | $108,237,578 | $12,278,324 |
Hunter Museum Of Art Chattanooga, TN | $45,514,020 | $7,390,848 |
Mississippi Museum Of Art Inc Jackson, MS | $2,798,163 | $5,472,334 |
Dixon Gallery And Gardens Memphis, TN | $9,304,777 | $5,610,012 |
Huntsville Museum Of Art Huntsville, AL | $758,389 | $3,037,653 |
Knoxville Museum Of Art Knoxville, TN | $12,196,877 | $3,220,850 |
The Mobile Museum Of Art Inc Mobile, AL | $3,456,123 | $3,066,123 |
Ohr-Okeefe Museum Of Art Inc Biloxi, MS | $40,136,750 | $2,525,884 |
Montgomery Museum Of Fine Arts Association Montgomery, AL | $14,468,966 | $2,387,013 |
National Ornamental Metal Museum Inc Memphis, TN | $19,212,719 | $16,707,423 |