Kimbell Art Foundation
- Assets
- $727.5m
- Revenue
- $97.9m
- Investments
- $210.5m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 11/1998
- Data as of
- 12/2022
- EIN
- 75-6036226
Organization Overview
Kimbell Art Foundation is located in Fort Worth, TX. The organization was established in 1998. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is the central organization for a national or regional group of organizations. Kimbell 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 12/2022, Kimbell Art Foundation generated $97.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $44.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Kimbell Art Foundation has awarded 51 individual grants totaling $2,210,693. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
(SEE STATEMENT)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Cfo, Secr./treas. | 30 | $421,250 | |
Name Not Listed Dep. Dir. Fina./admin., Asst. Secr./treas. | 35 | $304,000 | |
Name Not Listed Director | 3 | $0 | |
Name Not Listed Director | 3 | $0 | |
Name Not Listed Director | 3 | $0 | |
Name Not Listed Director | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adam Williams Fine Art Ltd | 12/30/22 | $125,000 |
Kelly Hart & Hallman Llp | 12/30/22 | $272,318 |
Resnicow And Associates Inc | 12/30/22 | $121,721 |
Northern Trust | 12/30/22 | $108,452 |
Luther King Capital Management | 12/30/22 | $99,852 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,332,573 |
| Interest on Savings | $202,811 |
| Dividends & Interest | $725,636 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $32,110,716 |
| Capital Gain Net Income | $32,113,101 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $412,740 |
| Other Income | $50,115,359 |
| Total Revenue | $97,899,835 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $725,250 |
| Other employee salaries and wages | $7,858,209 |
| Pension plans, employee benefits | $1,854,342 |
| Interest | $2,032,822 |
| Taxes | $2,714,598 |
| Depreciation | $20,291,144 |
| Occupancy | $604,871 |
| Travel, conferences, and meetings | $51,605 |
| Printing and publications | $2,455 |
| Other expenses | $7,578,369 |
| Total operating and administrative expenses | $44,703,286 |
| Contributions, gifts, grants paid | $60,000 |
| Total expenses and disbursements | $44,763,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,072,443 |
| Savings and temporary cash investments | $16,754,446 |
| Net Accounts receivable | $55,611 |
| 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 | $791,896 |
| Prepaid expenses and deferred charges | $454,187 |
| Net Investments - land, buildings, equipment | $54,865 |
| Investments—mortgage loans | $0 |
| Investments—other | $164,210,838 |
| Net Land, buildings, and equipment | $125,785,563 |
| Other assets | $370,073,292 |
| Total assets | $727,527,886 |
| Accounts payable and accrued expenses | $75,004 |
| 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 | $55,088,184 |
| Total liabilities | $55,163,188 |
Grants Awarded
Over the last fiscal year, Kimbell Art Foundation has awarded $60,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
FORT WORTH SYMPHONY ORCHESTRA PURPOSE: OPERATING SUPPORT | $3,000 |
MONUMENTS MEN AND WOMEN FOUNDATION PURPOSE: SPECIAL PROJECT | $50,000 |
ANGELINA COLLEGE FOUNDATION PURPOSE: OPERATING SUPPORT | $500 |
VAN CLIBURN FOUNDATION PURPOSE: OPERATING SUPPORT | $1,500 |
TEXANS FOR THE ARTS FOUNDATION PURPOSE: OPERATING SUPPORT | $5,000 |