Knoxville Museum Of Art
- Assets
- $12.2m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 52
- Location
- Knoxville, TN
- Founding
- 05/1963
- Data as of
- 06/2022
- EIN
- 62-0677701
Organization Overview
Knoxville Museum Of Art is located in Knoxville, TN. The organization was established in 1963. 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 06/2022, Knoxville Museum Of Art employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Museum Of Art 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 06/2022, Knoxville Museum Of Art generated $3.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. While expenses have increased by 2.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COLLECTION, PRESERVATION, EDUCATION, AND EXHIBITION OF WORKS OF ART FOR THE BENEFIT OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND PUBLIC PROGRAMS
EXHIBITIONS OF ART, INCLUDING FACILITIES AND SECURITY.
CURATORIAL COSTS, INCLUDING VALUATIONS, ACQUISITIONS, AND CARE OF ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David L Butler Executive Director | OfficerTrustee | 40 | $133,108 |
Steve Bailey Treasurer | OfficerTrustee | 2 | $0 |
June Heller Secretary | OfficerTrustee | 2 | $0 |
Julia Bentley Chair | OfficerTrustee | 2 | $0 |
Ceasar Stair IV Immediate Past Chair | OfficerTrustee | 2 | $0 |
Mollie Turner Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $164,419 |
| Fundraising events | $1,077,168 |
| Related organizations | $265,515 |
| Government grants | $991,615 |
| All other contributions, gifts, grants, and similar amounts not included above | $835,646 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,334,363 |
| Total Program Service Revenue | $37,823 |
| Investment income | $56,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $65,135 |
| Net Gain/Loss on Asset Sales | -$46,070 |
| Net Income from Fundraising Events | -$314,354 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $70,904 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,220,850 |
| 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. | $197,288 |
| Compensation of current officers, directors, key employees. | $49,322 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,118,616 |
| Pension plan accruals and contributions | $15,158 |
| Other employee benefits | $0 |
| Payroll taxes | $92,457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,710 |
| Fees for services: Other | $44,884 |
| Advertising and promotion | $23,395 |
| Office expenses | $65,234 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $142,554 |
| Travel | $5,983 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $441 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $560,965 |
| Insurance | $108,176 |
| All other expenses | $137,397 |
| Total functional expenses | $2,974,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $937,006 |
| Savings and temporary cash investments | $2,755,797 |
| Pledges and grants receivable | $35,000 |
| Accounts receivable, net | $200,003 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,489 |
| Prepaid expenses and deferred charges | $6,647 |
| Net Land, buildings, and equipment | $8,010,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $212,914 |
| Total assets | $12,196,877 |
| Accounts payable and accrued expenses | $99,126 |
| Grants payable | $0 |
| Deferred revenue | $8,201 |
| 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 | $107,327 |
| Net assets without donor restrictions | $11,539,138 |
| Net assets with donor restrictions | $550,412 |
| 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 | $12,196,877 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Knoxville Museum Of Art has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
June Friedlob Kate Friedlob June Friedlob Heller Foundation Knoxville, TN PURPOSE: ARTS EDUCATION AND SUPPORT | $40,000 |
Endowment Analysis
| Beg. Balance | $7,391,096 |
| Earnings | -$958,460 |
| Admin Expense | $19,846 |
| Grants | $271,215 |
| Ending Balance | $6,141,575 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cheekwood Botanical Garden And Museum Of Art Nashville, TN | $58,316,106 | $17,726,545 |
The Chrysler Museum Inc Norfolk, VA | $126,873,495 | $33,956,756 |
J B Speed Art Museum Louisville, KY | $144,061,757 | $14,473,949 |
Mint Museum Of Art Inc Charlotte, NC | $80,854,701 | $6,923,462 |
Hunter Museum Of Art Chattanooga, TN | $45,514,020 | $7,390,848 |
Glass-Glen Burnie Museum Inc Winchester, VA | $37,985,540 | $7,078,309 |
Mississippi Museum Of Art Inc Jackson, MS | $2,798,163 | $5,472,334 |
Telfair Museum Of Art Inc Savannah, GA | $65,681,011 | $7,397,922 |
Dixon Gallery And Gardens Memphis, TN | $9,304,777 | $5,610,012 |
The Taubman Museum Of Art Roanoke, VA | $68,810,995 | $4,453,447 |
Reynolda House Inc Winston Salem, NC | $41,896,751 | $3,493,024 |
Kemper Museum Operating Foundation Kansas City, MO | $21,285,156 | $4,170,305 |