Palm Springs Art Museum
- Assets
- $40.2m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 99
- Location
- Palm Springs, CA
- Founding
- 09/1941
- Data as of
- 09/2021
- EIN
- 95-1809576
Organization Overview
Palm Springs Art Museum is located in Palm Springs, CA. The organization was established in 1941. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Palm Springs Art Museum employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Springs 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 09/2021, Palm Springs Art Museum generated $11.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $6.7m during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PALM SPRINGS ART MUSEUM CREATES TRANSFORMATIVE EXPERIENCES THAT EXPAND OUR UNDERSTANDING OF OURSELVES AND THE WORLD. OUR COLLECTIONS, EXHIBITIONS, AND PROGRAMS CONNECT PEOPLE TO THE ART AND CULTURE OF OUR COMMUNITY AND TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1938, PALM SPRINGS ART MUSEUM (PSAM) IS THE LARGEST ARTS CULTURAL INSTITUTION IN RIVERSIDE COUNTY'S COACHELLA VALLEY. ACCREDITED BY THE AMERICAN ASSOCIATION OF MUSEUMS, THE PALM SPRINGS ART MUSEUM HAS 28 GALLERIES, TWO SCULPTURE GARDENS, FOUR CLASSROOMS, A RESOURCE CENTER, FIVE STORAGE VAULTS, AN EIGHTY-FIVE SEAT LECTURE HALL, A 433-SEAT PROFESSIONAL THEATER, A 1,000 SQUARE-FOOT STORE SPACE, A PERMANENT COLLECTION OF 12,000+ WORKS OF ART (INCLUDING PAINTING, SCULPTURE, PHOTOGRAPHY, DRAWINGS, PRINTS, AND MEDIA WORKS, WITH STRENGTHS IN MODERN AND CONTEMPORARY ART), AND A POPULAR BISTRO ALL IN A 150,000 SQUARE FOOT ARCHITECTURALLY-SIGNIFICANT BUILDING. OUR SATELLITE LOCATION; ARCHITECTURE AND DESIGN CENTER FEATURES A 17,000 SQUARE FOOT SPACE FOR EXHIBITIONS AND PROGRAMMING WHERE THE MUSEUM PRESENTS A WIDE RANGE OF TOPICS IN ARCHITECTURE AND DESIGN. WE ALSO HAVE A SATELLITE OUTDOOR VENUE, THE FOUR-ACRE THE FAYE SARKOWSKY SCULPTURE GARDEN IN PALM DESERT, WHICH IS FREE AND OPEN 24/7. WE OFFER NINE MEMBERSHIP LEVELS RANGING FROM $65-$25,000. DURING THE MUSEUM'S CLOSURE FROM APRIL 2020 UNTIL APRIL 2021, MEMBERSHIP FELL TO 2,374 MEMBERS FROM APPROXIMATELY 3,500. BY THE END OF 2021, MEMBERSHIP HAD INCREASED TO 3,174, A THIRTY-FOUR PERCENT INCREASE. DURING 2022, OUR MEMBERSHIP HAS FURTHER INCREASED TO THE CURRENT JUNE 2022 LEVEL OF 3,436 MEMBERS, AN EIGHT PERCENT INCREASE, AND AN INDICATION OF OUR LOYAL FOLLOWING AMONG OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louis Grachos-Through July CEO / Executive Director | OfficerTrustee | 40 | $349,608 |
Rochelle Steiner Chief Curator & Director Of Curatorial Affairs And | 40 | $178,272 | |
Debra Preston Vice President Of Operations | 40 | $172,589 | |
Nichole Pingree Director Of Finance | 40 | $103,414 | |
Sheri Broedlow Chief Advancement Officer | Officer | 40 | $97,924 |
Adam Lerner- After July CEO / Executive Director | Officer | 40 | $70,573 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sensorium Event Productions Event Design & Decor | 9/29/18 | $180,473 |
Lulu California Bistro Catering | 9/29/18 | $115,901 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,016,486 |
| Related organizations | $0 |
| Government grants | $505,630 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,697,170 |
| Noncash contributions included in lines 1a–1f | $588,351 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,219,286 |
| Total Program Service Revenue | $573,591 |
| Investment income | $356,757 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,561,964 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $172,901 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,070,079 |
| 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. | $576,495 |
| Compensation of current officers, directors, key employees. | $202,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,346,405 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $331,947 |
| Payroll taxes | $238,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,154 |
| Fees for services: Accounting | $39,683 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $103,007 |
| Fees for services: Other | $370,898 |
| Advertising and promotion | $32,070 |
| Office expenses | $72,225 |
| Information technology | $118,626 |
| Royalties | $0 |
| Occupancy | $274,145 |
| Travel | $17,376 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,322 |
| Interest | $58,247 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $599,949 |
| Insurance | $313,932 |
| All other expenses | $405,293 |
| Total functional expenses | $6,746,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,839,323 |
| Savings and temporary cash investments | $836,089 |
| Pledges and grants receivable | $1,333,526 |
| 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 | $299,861 |
| Prepaid expenses and deferred charges | $94,042 |
| Net Land, buildings, and equipment | $11,771,360 |
| Investments—publicly traded securities | $21,069,115 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,968,815 |
| Total assets | $40,212,131 |
| Accounts payable and accrued expenses | $304,831 |
| Grants payable | $0 |
| Deferred revenue | $495,352 |
| 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 | $800,183 |
| Net assets without donor restrictions | $10,999,260 |
| Net assets with donor restrictions | $28,412,688 |
| 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 | $40,212,131 |
Grants Recieved
Over the last fiscal year, we have identified 29 grants that Palm Springs Art Museum has recieved totaling $459,460.
| Awarding Organization | Amount |
|---|---|
The Sarkowsky Family Charitable Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $106,460 |
Kovler Family Foundation Chicago, IL PURPOSE: TO AID IN ACHIEVING THE EXEMPT PURPOSE OF THE VARIOUS DONEE ORGANIZATIONS. | $50,000 |
Mary Ingebrand-Pohlad Foundation Minneapolis, MN PURPOSE: GENERAL SUPPORT | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $47,050 |
Sean Patrick Mcgrath Family Foundation Natick, MA PURPOSE: CHARITABLE DONATIONS | $38,000 |
Kovler Family Foundation Chicago, IL PURPOSE: CULTURAL & CIVIC-TO AID IN ACHIEVING THE EXEMPT PURPOSE OF THE VARIOUS DONEE ORGANIZATIONS. | $30,000 |
Endowment Analysis
| Beg. Balance | $18,662,455 |
| Earnings | $2,332,918 |
| Admin Expense | $103,007 |
| Net Contributions | $5,950 |
| Other Expense | $2,953,111 |
| Ending Balance | $17,945,205 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uss Midway Museum San Diego, CA | $89,557,357 | $9,957,373 |
Lucas Museum Of Narrative Art Los Angeles, CA | $1,047,180,873 | $200,315,657 |
Musical Instrument Museum Phoenix, AZ | $166,967,307 | $47,583,205 |
Operation Underground Railroad Inc Anaheim, CA | $68,076,312 | $47,549,013 |
Discovery Science Center Of Orange County Santa Ana, CA | $60,809,996 | $26,194,294 |
Grammy Museum Foundation Inc Los Angeles, CA | $19,726,049 | $9,757,476 |
Japanese American National Museum Los Angeles, CA | $64,155,556 | $8,326,332 |
Mingei International Inc San Diego, CA | $66,923,986 | $7,226,145 |
Heard Museum Phoenix, AZ | $36,442,009 | $14,120,125 |
Turtle Bay Exploration Park Redding, CA | $48,250,618 | $8,223,185 |
Palm Springs Art Museum Palm Springs, CA | $40,212,131 | $11,070,079 |
Safari Game Search Foundation Winston, OR | $11,893,690 | $8,001,628 |