R W Norton Art Foundation
- Assets
- $90.6m
- Revenue
- $3.0m
- Investments
- $33.1m
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 02/1947
- Data as of
- 12/2021
- EIN
- 72-0517182
Organization Overview
R W Norton Art Foundation is located in Shreveport, LA. The organization was established in 1947. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. R W Norton 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 12/2021, R W Norton Art Foundation generated $3.0m 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 (5.5%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM OPERATIONS AND MAINTENANCE - THE PRINCIPAL ACTIVITY IS THE OPERATION OF AN ART MUSEUM AND LIBRARY IN SHREVEPORT, LA. COSTS INCURRED ARE EXPENSES FOR THE OPERATION OF THE MUSEUM AND LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bancorpsouth Trustee | 5 | $200,817 | |
Kip Dehart Horticulturist | 40 | $63,241 | |
Jeremy Hammontree Maint. Supervisor | 40 | $59,202 | |
Emily Feazel Designer Of Exhibits | 40 | $53,202 | |
Matthew Hazelton Maint. Supervisor | 40 | $53,160 | |
Loren Culver Digital Archivist | 40 | $52,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $979 |
| Interest on Savings | $546 |
| Dividends & Interest | $1,121,486 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,717,118 |
| Capital Gain Net Income | $1,717,118 |
| Net ST Capital Gain | $127,973 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $180,055 |
| Total Revenue | $3,020,184 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $200,817 |
| Other employee salaries and wages | $661,598 |
| Pension plans, employee benefits | $1,752 |
| Interest | $0 |
| Taxes | $70,469 |
| Depreciation | $0 |
| Occupancy | $218,125 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $2,795 |
| Other expenses | $590,053 |
| Total operating and administrative expenses | $1,865,609 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,865,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,092 |
| Savings and temporary cash investments | $2,638,883 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $441,332 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $24,510,594 |
| Other assets | $29,840,750 |
| Total assets | $90,584,723 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Invitational Smoke Houston, TX | $5,761,542 | $2,810,220 |
Cullen Trust For The Performing Arts Houston, TX | $84,734,407 | $8,559,059 |
Tobin Endowment Tr San Antonio, TX | $66,872,342 | $3,974,678 |
Freedom Shield Foundation Lewisville, TX | $366,050 | $2,668,324 |
R W Norton Art Foundation Shreveport, LA | $90,584,723 | $3,020,184 |
Knowledge Arts Foundation Houston, TX | $5,977,787 | $3,546,412 |
J M Parker Foundation Abilene, TX | $41,978,298 | $664,865 |
Russell H Rogers Fund For The Arts Bank Of America N A 05-500-3132032 San Antonio, TX | $24,621,680 | $3,797,950 |
Inprint Inc Houston, TX | $7,553,324 | $1,398,082 |
Art And Eva Camunez Tucker Foundation San Angelo, TX | $10,543,164 | $1,213,438 |
Ralph H & Elizabeth C Norton Philanthropic Tr 31-36559-8 Dallas, TX | $12,369,497 | $1,046,063 |
Walton Arts Center Foundation Inc Fayetteville, AR | $17,710,449 | $44,264 |