Seattle Art Museum
- Assets
- $356.0m
- Revenue
- $41.6m
- Investments
- $40.8m
- Employees
- 425
- 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 06/2020, Seattle Art Museum employed 425 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
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 5 years, revenues have fallen by an average of (1.0%) 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimerly Rorschach Illsley Ball Nordstr. Dir. Thru 09/19 | Officer | 30 | $404,592 |
Cynthia Bolton Chief Financial Officer | Officer | 30 | $185,636 |
Chris Landman Chief Development Officer | Officer | 30 | $179,783 |
Manish Engineer Chief Technology Officer | 40 | $162,513 | |
Chiyo Ishikawa Deputy Director Of Art | 40 | $139,516 | |
Nicholas Dorman Chief Conservator | 40 | $130,243 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lmn Architects Architect Services | 6/29/20 | $411,331 |
Bnb Builders Construction Services | 6/29/20 | $17,798,643 |
Allied Universal Security Services | 6/29/20 | $659,250 |
Convergint Technologies Llc Building And Technology Maintenance | 6/29/20 | $453,457 |
Mckinstry Co Building And Hvac Maintenance | 6/29/20 | $530,791 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,839,951 |
| Fundraising events | $84,420 |
| Related organizations | $0 |
| Government grants | $895,744 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,310,548 |
| Noncash contributions included in lines 1a–1f | $601,905 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,130,663 |
| Total Program Service Revenue | $3,300,469 |
| 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 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. | $943,732 |
| Compensation of current officers, directors, key employees. | $199,577 |
| 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 | $6,287 |
| 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 |
| Net Land, buildings, and equipment | $98,010,291 |
| 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 | $153,766,163 |
| Net assets with donor restrictions | $179,642,450 |
| 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 | $355,978,957 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Seattle Art Museum has recieved totaling $489,661.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $316,811 |
Kulakala Point Foundation Seattle, WA PURPOSE: TO SUPPORT THE LEADING VISUAL ART INSTITUTION IN THE PACIFIC NORTHWEST. | $107,200 |
Lenore Hanauer Foundation Seattle, WA PURPOSE: UNRESTRICTED SUPPORT | $15,000 |
The Brian Ratner Foundation Shaker Heights, OH PURPOSE: ANNUAL FUND | $10,000 |
Brookshire-Green Foundation Seattle, WA PURPOSE: SUPPORT FOR THE ARTS | $10,000 |
Realnetworks Foundation Seattle, WA PURPOSE: PROGRAM SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $144,136,322 |
| Earnings | $218,808 |
| Admin Expense | $650,982 |
| Net Contributions | $14,956,176 |
| Other Expense | $7,859,497 |
| Ending Balance | $150,800,827 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seattle Art Museum Seattle, WA | $355,978,957 | $41,617,097 |
Portland Art Museum Portland, OR | $170,055,224 | $22,345,406 |
National Nordic Museum Seattle, WA | $58,701,901 | $13,373,743 |
Museum Of Glass Tacoma, WA | $27,774,581 | $3,274,139 |
The Bellevue Art Museum Bellevue, WA | $20,884,542 | $2,258,873 |
Mobius Spokane Spokane, WA | $2,486,191 | $1,347,785 |
Boise Art Museum Incorporated Boise, ID | $3,681,223 | $1,423,715 |
Maryhill Museum Of Art Goldendale, WA | $13,587,108 | $961,089 |
Museum Of Northwest Art La Conner, WA | $1,194,986 | $648,652 |
Favell Museum Inc Klamath Falls, OR | $5,535,610 | $295,574 |
Coos Art Museum Coos Bay, OR | $459,621 | $240,153 |
Edmonds Arts Festival Foundation Edmonds, WA | $1,096,532 | $247,081 |