Museum Associates
- Assets
- $765.5m
- Revenue
- $144.2m
- Investments
- $209.4m
- Employees
- 618
- Location
- Los Angeles, CA
- Founding
- 09/1944
- Data as of
- 06/2018
- EIN
- 95-2264067
Organization Overview
Museum Associates, operating under the name Los Angeles County Museum Of Art (lacma), is located in Los Angeles, CA. The organization was established in 1944. 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 06/2016, Los Angeles County Museum Of Art (lacma) employed 618 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2018, Los Angeles County Museum Of Art (lacma) generated $144.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $110.5m during the year ending 06/2018. While expenses have increased by 0.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA PRESENTED 31 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS IN FISCAL 2015-2016, FEATURING ARTWORKS FROM ITS OWN COLLECTION AND FROM LENDERS AROUND THE WORLD. PUBLIC PROGRAMS, FILMS, AND CONCERTS ARE DEVELOPED IN COORDINATION WITH SPECIAL EXHIBITIONS. MANY WORKS FROM THE MUSEUM'S COLLECTION OF OVER 130,000 OBJECTS ARE TREATED BY CONSERVATORS, WHILE THE MUSEUM'S RESEARCH LIBRARY AND SCHOLARLY PUBLICATIONS PROVIDE REFERENCE SUPPORT TO MUSEUM STAFF AND OUTSIDE SCHOLARS. ALL OF THESE ACTIVITIES SERVE TO MEET THE GOALS OF CONSERVATION, EXHIBITION AND INTERPRETATION OF THE ART INTO MEANINGFUL AESTHETIC, INTELLECTUAL, AND CULTURAL EXPERIENCES.
FACILITY ENHANCEMENTFINANCING AND DEPRECIATION EXPENSE REPRESENT AMORTIZATION OF THE CAPITALIZED COSTS OF CONSTRUCTING THE MUSEUM'S PHYSICAL FACILITIES, AN ACTIVITY THAT IS ONE OF THE CORE REASONS MUSEUM ASSOCIATES WAS FOUNDED. THIS CATEGORY OF EXPENSE ALSO REFLECTS ON-GOING ACTIVITY FOR PROJECTS THAT WERE NOT CAPITALIZED, SUCH AS ARCHITECTURAL PLANNING.
PUBLIC AND PROTECTIVE SERVICES AND ENGAGEMENTIT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES, ETHNICITIES, AND SOCIO-ECONOMIC BACKGROUNDS BY CREATING WELCOMING ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING ON-SITE STAFF AND CONTRACTORS PROTECTING ART AND PROVIDING SERVICE TO THE PUBLIC, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, CAMPUS WAY-FINDING MEDIA, AND THE MUSEUM MAGAZINE.
IT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES, ETHNICITIES, AND SOCIO-ECONOMIC BACKGROUNDS BY CREATING WELCOMING ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING THE MUSEUM MAGAZINE, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, CAMPUS WAY-FINDING MEDIA, AND ON-SITE STAFF PROVIDING SERVICE TO THE PUBLIC. THE MUSEUM ALSO WORKS TO EXTEND THE MUSEUM EXPERIENCE IN THE FULLEST POSSIBLE WAY TO THE WIDEST POSSIBLE AUDIENCE. TO ACHIEVE THIS GOAL, IT OFFERS MANY EDUCATIONAL OUTREACH PROGRAMS IN LOCAL SCHOOLS AND ON-SITE FOR CHILDREN AND TEENS AS WELL AS CLASSES AND OTHER PROGRAMS AND INTERPRETIVE MATERIALS FOR COLLEGE STUDENTS AND ADULTS. IT ALSO PROVIDES IMAGES, INFORMATION, AND OTHER WAYS TO ACCESS ITS COLLECTIONS AND PROGRAMS THROUGH THE WEB AND MANY OTHER DIGITAL MEDIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Govan CEO & Wallis Annenberg Director | Officer | 40 | $883,170 |
Theresa Morello Svp, External Affairs | Officer | 40 | $467,315 |
Diana Vesga Chief Administrative Officer | Officer | 40 | $372,137 |
Fred Goldstein Svp, General Counsel & Secretary | Officer | 40 | $316,256 |
Melissa Bomes SVP Of Development & Audience Strategy | Officer | 40 | $313,979 |
Zoe Kahr Deputy Director Of Exhibitions & Planning | 40 | $231,080 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J Ben Bourgeois Productions Special Events Designer | 6/29/16 | $1,637,896 |
Allied Barton Security Services Security | 6/29/16 | $5,481,925 |
Patina Restaurant Group Llc Catering | 6/29/16 | $1,362,312 |
Atelier Peter Zumthor & Partner Architecture | 6/29/16 | $2,245,187 |
Us Art Company Inc Shipping & Storage | 6/29/16 | $1,281,921 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,207,462 |
| Investment income | $2,177,778 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $284,108 |
| Net Rental Income | $1,397,539 |
| Net Gain/Loss on Asset Sales | $2,949,156 |
| Net Income from Fundraising Events | $2,949,156 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,065,483 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $144,174,390 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $104,227 |
| Grants and other assistance to Foreign Orgs/Individuals | $80,440 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,492,722 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,183,869 |
| Pension plan accruals and contributions | -$926,559 |
| Other employee benefits | $3,032,613 |
| Payroll taxes | $1,938,720 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $596,947 |
| Fees for services: Accounting | $66,587 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $323,144 |
| Fees for services: Investment Management | $914,739 |
| Fees for services: Other | $10,411,128 |
| Advertising and promotion | $405,316 |
| Office expenses | $3,943,872 |
| Information technology | $1,476,188 |
| Royalties | $52,174 |
| Occupancy | $7,868,894 |
| Travel | $1,442,201 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,317,474 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,836,661 |
| Insurance | $1,290,413 |
| All other expenses | $1,761,465 |
| Total functional expenses | $110,516,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,870,334 |
| Pledges and grants receivable | $108,432,723 |
| Accounts receivable, net | $6,524,276 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $481,251 |
| Prepaid expenses and deferred charges | $92,471 |
| Investments—publicly traded securities | $163,239,394 |
| Investments—other securities | $209,427,386 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $765,515,040 |
| Accounts payable and accrued expenses | $8,622,137 |
| Grants payable | $0 |
| Deferred revenue | $36,892,280 |
| Tax-exempt bond liabilities | $331,036,266 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $345,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,087,201 |
| Total liabilities | $442,982,884 |
| Net assets without donor restrictions | $126,525,662 |
| Net assets with donor restrictions | $170,511,899 |
| Capital stock or trust principal, or current funds | $25,494,595 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $322,532,156 |
Grants Awarded
Over the last fiscal year, Museum Associates has awarded $472,248 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Kansas City, MO PURPOSE: TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. | $136,941 |
Atlanta, GA PURPOSE: TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. | $114,786 |
Chicago, IL PURPOSE: TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. | $112,579 |
Houston, TX PURPOSE: TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. | $107,942 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Museum Associates has recieved totaling $2,239,561.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $1,000,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $1,000,000 |
Raymond James Charitable Endowment Fund St Petersburg, FL PURPOSE: GENERAL USE AND/OR SPECIAL FUND/PROJECT | $200,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,211 |
Posner Foundation Wilmington, DE PURPOSE: LACMA - DIRECTOR'S CIRCLE SPONSOR FUND | $10,000 |
Sam & Roslyn Berkman Family Foundation Encino, CA PURPOSE: ARTS & CULTURE | $5,000 |
Endowment Analysis
| Beg. Balance | $125,782,946 |
| Earnings | $719,758 |
| Net Contributions | $6,177 |
| Other Expense | $6,223,150 |
| Ending Balance | $120,285,731 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Associates Los Angeles, CA | $765,515,040 | $144,174,390 |
San Francisco Museum Of Modern Art San Francisco, CA | $782,459,375 | $60,826,981 |
Asian Art Museum Foundation Of San Francisco San Francisco, CA | $256,031,716 | $41,593,816 |
The Broad Los Angeles, CA | $561,588,983 | $31,220,288 |
Armand Hammer Museum Of Art And Cultural Center Inc Los Angeles, CA | $321,317,525 | $25,988,369 |
Museum Of Contemporary Art Los Angeles, CA | $173,324,238 | $20,204,928 |
Portland Art Museum Portland, OR | $170,055,224 | $22,345,406 |
Honolulu Museum Of Art Honolulu, HI | $124,144,992 | $14,530,778 |
San Diego Museum Of Art San Diego, CA | $79,415,089 | $10,361,109 |
Phoenix Art Museum Phoenix, AZ | $7,242,004 | $9,400,156 |
Nevada Museum Of Art Inc Reno, NV | $50,706,682 | $18,925,654 |
Crocker Art Museum Association Sacramento, CA | $31,464,464 | $12,237,025 |