Virginia Museum Of Fine Arts Foundation

Virginia Museum Of Fine Arts Foundation Overview

Virginia Museum Of Fine Arts Foundation is located in Richmond, VA. The organization was established in 1977. 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. As of 06/2020, Virginia Museum Of Fine Arts Foundation employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 06/2020, Virginia Museum Of Fine Arts Foundation generated $48.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $27.7m during the year ending 06/2020. While expenses have increased by 1.7% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE VIRGINIA MUSEUM OF FINE ARTS FOUNDATION (FOUNDATION) WAS FOUNDED IN 1976 TO SUPPORT THE VIRGINIA MUSEUM OF FINE ARTS (MUSEUM), AN AGENCY OF THE COMMONWEALTH OF VIRGINIA. TO ACCOMPLISH ITS MISSION, THE FOUNDATION ADMINISTERS A COMPREHENSIVE FUND RAISING PROGRAM, INVESTS PRIVATE ASSETS SUCH AS ENDOWMENTS, AND OWNS AND MAINTAINS PIECES OF REAL ESTATE USED BY THE MUSEUM FOR PROGRAM AND ADMINISTRATIVE FUNCTIONS. ALL SUCH ACTIVITIES ARE UNDERTAKEN AT THE REQUEST OF THE MUSEUM'S BOARD OF TRUSTEES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OVER THE PAST YEAR THE FOUNDATION HAS MANAGED THE PRIVATE INSTITUTIONAL ADVANCEMENT PROGRAM FOR THE VIRGINIA MUSEUM OF FINE ARTS, AN AGENCY OF THE COMMONWEALTH OF VIRGINIA. THE RESULTS OF THOSE FUND RAISING EFFORTS ARE REFLECTED IN THE DATA LISTED ON THIS RETURN. IN ADDITION, ENDOWMENTS HELD IN TRUST BY THE FOUNDATION FOR THE BENEFIT OF THE MUSEUM HAVE BEEN INVESTED, THE MANAGERS EVALUATED, THE INVESTMENT POLICY REVIEWED, AND FUNDS DISTRIBUTED IN ACCORDANCE WITH DONOR INTENT.


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Virginia Museum Of Fine Arts Foundation Vendors

Vendor Name (Service)Compensation
Monticello Associates
Investment Management
$218,750
Silchester International Investor Inc
Investment Management
$254,919
Iridian Asset Management Llc
Investment Management
$195,811
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $20,815,944
All other contributions, gifts, grants, and similar amounts not included above$19,556,282
Noncash contributions included in lines 1a–1f $152,206
Total Revenue from Contributions, Gifts, Grants & Similar$40,372,226
Total Program Service Revenue$105,475
Investment income $1,615,714
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $6,694,944
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $48,848,372

Virginia Museum Of Fine Arts Foundation Grants Recieved

Over the last fiscal year, we have identified 16 grants that Virginia Museum Of Fine Arts Foundation has recieved totaling $5,478,030.

Awarding OrganizationAmount
$5,231,004
James W And Frances Gibson Mcglothlin Foundation

Bristol, VA

PURPOSE: GENERAL SUPPORT

$50,000
Arthur W Perdue Foundation Inc

Wilmington, DE

PURPOSE: GENERAL & UNRESTRICTED

$40,167
Westrock Foundation

Atlanta, GA

PURPOSE: VFMA ON THE ROAD

$40,000
Clovelly Foundation

Richmond, VA

PURPOSE: CHARITABLE SUPPORT

$25,000
William & Mary Greve Foundation Inc

New York, NY

PURPOSE: IN SUPPORT OF "VMFA ON THE ROAD" PROJECT.

$20,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$244,750,430
Earnings-$1,714,571
Net Contributions$5,033,009
Other Expense$3,639,958
Ending Balance$244,428,910

Virginia Museum Of Fine Arts Foundation Peer Organizations

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