Knoxville Museum Of Art Foundation
- Assets
- $6.0m
- Revenue
- $253.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 09/1998
- Data as of
- 06/2022
- EIN
- 62-1737208
Organization Overview
Knoxville Museum Of Art Foundation is located in Knoxville, TN. The organization was established in 1998. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Museum Of Art 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 06/2022, Knoxville Museum Of Art Foundation generated $253.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $283.6k during the year ending 06/2022. 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
TO SUPPORT THE KNOXVILLE MUSEUM OF ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION TO KNOXVILLE MUSEUM OF ART
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Bailey Chairman | OfficerTrustee | 0 | $0 |
Robert S Marquis Secretary/treasurer | OfficerTrustee | 0 | $0 |
Allison Lederer Trustee | Trustee | 0 | $0 |
L Caesar Stair IV Trustee | Trustee | 0 | $0 |
Richard Jansen Trustee | Trustee | 0 | $0 |
Kenneth Creed Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $142,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $111,139 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $253,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $265,515 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $18,131 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $283,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,020,461 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,020,461 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,972,664 |
| Net assets with donor restrictions | $4,047,797 |
| 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 | $6,020,461 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Knoxville Museum Of Art Foundation has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Aslan Foundation Knoxville, TN PURPOSE: RESTRICTED - PROGRAM SUPPORT | $100,000 |
Endowment Analysis
| Beg. Balance | $7,247,513 |
| Earnings | -$943,406 |
| Admin Expense | $18,131 |
| Grants | $265,515 |
| Ending Balance | $6,020,461 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crystal Bridges Museum Of American Art Inc Bentonville, AR | $1,732,386,844 | $177,931,616 |
Nelson Gallery Foundation Kansas City, MO | $610,782,059 | $25,702,378 |
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 |