Seattle Art Museum
- Assets
- $356.0m
- Revenue
- $41.6m
- Investments
- $40.8m
- Employees
- 347
- Location
- Seattle, WA
- Founding
- 07/1934
- Data as of
- 06/2020
- EIN
- 91-0640788
Organization Overview
Seattle Art Museum is located in Seattle, WA. The organization was established in 1934. 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 06/2021, Seattle Art Museum employed 347 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Art Museum 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 06/2020, Seattle Art Museum generated $41.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $37.3m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND CULTIVATE THE FINE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM SERVICES: PROVIDING A PUBLIC ART MUSEUM INCLUDING THE ACCESSION OF ART OBJECTS AS WELL AS PUBLIC ART EXHIBITIONS AND ART EDUCATION FOR THE GENERAL PUBLIC. MUSEUM PATRONS VISITED THIS YEAR AT THREE DIFFERENT SEATTLE LOCATIONS - THE SEATTLE ART MUSEUM, THE SCULPTURE PARK AND THE ASIAN ART MUSEUM.DURING THE FISCAL YEAR ENDED JUNE 30, 2021, THE OUTDOOR OLYMPIC SCULPTURE PARK REMAINED OPEN TO THE PUBLIC YEAR-ROUND, BUT THE SEATTLE ART MUSEUM DOWNTOWN, THE SEATTLE ASIAN ART MUSEUM, AND THE PAVILION AT THE OLYMPIC SCULPTURE PARK EXPERIENCE INTERMITTENT CLOSURES AND RE-OPENINGS AT THE GOVERNMENT'S DIRECTION. THE SEATTLE ART MUSEUM DOWNTOWN WAS ABLE TO RE-OPEN ON FEBRUARY 6, 2021 AND THE SEATTLE ASIAN ART MUSEUM AND THE OLYMPIC SCULPTURE PARK PAVILION FOLLOWED ON APRIL 30, 2021. IN ORDER TO STILL PROVIDE ACCESS TO ART AND EDUCATION DURING THE CLOSURES, THE MUSEUM SHIFTED ITS PROGRAMMING ONLINE AND PROVIDED VIRTUAL ACCESS FOR ITS AUDIENCES AND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amada Cruz Illsey Ball Nordstrom Director | Officer | 38 | $407,310 |
Cynthia Bolton Chief Financial Officer | Officer | 38 | $179,203 |
Chris Landman Chief Development Officer | Officer | 40 | $170,459 |
Manish Engineer Chief Technology Officer | 40 | $157,206 | |
Nicholas Dorman Chief Conservator | 40 | $149,427 | |
Lauren Mellon Director Of Museum Services | 40 | $119,241 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southwest Solutions Upgrades And Repairs | 6/29/21 | $205,646 |
Eltec Systems Llc Elevator Maintenance And Repairs | 6/29/21 | $162,051 |
Allied Universal Security Services | 6/29/21 | $645,452 |
Cambridge Associates Investment Managment | 6/29/21 | $337,116 |
Mckinstry Co Hvac Maintenance | 6/29/21 | $260,606 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,130,663 |
| Investment income | $3,977,368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $18,465 |
| Net Rental Income | $3,316,066 |
| Net Gain/Loss on Asset Sales | -$958,824 |
| Net Income from Fundraising Events | $60,358 |
| Net Income from Gaming Activities | $11,515 |
| Net Income from Sales of Inventory | $460,550 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,617,097 |
| Statement of Expenses | |
|---|---|
| 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. | $943,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,294,954 |
| Pension plan accruals and contributions | $1,926,170 |
| Other employee benefits | $1,231,670 |
| Payroll taxes | $980,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,539 |
| Fees for services: Accounting | $176,544 |
| Fees for services: Lobbying | $24,082 |
| Fees for services: Fundraising | $265,805 |
| Fees for services: Investment Management | $650,982 |
| Fees for services: Other | $198,654 |
| Advertising and promotion | $482,137 |
| Office expenses | $2,689,280 |
| Information technology | $99,829 |
| Royalties | $0 |
| Occupancy | $8,288,658 |
| Travel | $153,339 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $206,231 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,540,800 |
| Insurance | $929,771 |
| All other expenses | $0 |
| Total functional expenses | $37,276,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,001,347 |
| Savings and temporary cash investments | $4,040,455 |
| Pledges and grants receivable | $8,941,565 |
| Accounts receivable, net | $1,934,965 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $25,087,253 |
| Inventories for sale or use | $450,485 |
| Prepaid expenses and deferred charges | $700,883 |
| Investments—publicly traded securities | $101,306,402 |
| Investments—other securities | $40,753,093 |
| Investments—program-related | $23,680,479 |
| Intangible assets | $0 |
| Other assets | $25,071,739 |
| Total assets | $355,978,957 |
| Accounts payable and accrued expenses | $2,578,250 |
| Grants payable | $0 |
| Deferred revenue | $3,953,308 |
| 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 | $8,744,720 |
| Unsecured mortgages and notes payable | $2,860,600 |
| Other liabilities | $4,433,466 |
| Total liabilities | $22,570,344 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $333,408,613 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Seattle Art Museum has recieved totaling $5,825.
| Awarding Organization | Amount |
|---|---|
Illuminated Foundation Cave Creek, AZ PURPOSE: FUNDING DONATION | $5,000 |
Zari And Gregory Semerdjian Charitable Foundation Tacoma, WA PURPOSE: SUPPORT WORLD-CLASS VISUAL ARTS IN THE PACIFIC NORTHWEST | $250 |
Now And Tomorrow Yarrow Point, WA PURPOSE: PROMOTING THE ARTS IN THE GREATER SEATTLE AREA. | $250 |
J D Robertson Foundation Cleveland, OH PURPOSE: GENERAL PURPOSE | $225 |
Tillie & Alfred Shemanski Foundation Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $100 |
Endowment Analysis
| Beg. Balance | $150,800,827 |
| Earnings | $47,278,628 |
| Admin Expense | $655,819 |
| Net Contributions | $12,881,360 |
| Other Expense | $8,155,182 |
| Ending Balance | $202,149,814 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seattle Art Museum Seattle, WA | $355,978,957 | $41,617,097 |
Portland Art Museum Portland, OR | $150,113,696 | $27,542,215 |
National Nordic Museum SeattlE, WA | $49,217,466 | $3,740,373 |
Tacoma Art Museum Tacoma Wa Tacoma, WA | $74,333,248 | $4,980,313 |
Museum Of Glass Tacoma, WA | $27,774,581 | $3,274,139 |
The Bellevue Art Museum Bellevue, WA | $20,455,455 | $2,226,948 |
Maryhill Museum Of Art Goldendale, WA | $14,259,596 | $1,339,559 |
Boise Art Museum Incorporated Boise, ID | $4,916,476 | $1,848,103 |
Mobius Spokane Spokane, WA | $1,874,613 | $1,221,461 |
Museum Of Northwest Art La Conner, WA | $1,660,122 | $989,846 |
Favell Museum Inc Klamath Falls, OR | $5,553,246 | $284,368 |
Larson Gallery Guild Yakima, WA | $1,279,801 | $236,672 |