Armand Hammer Museum Of Art And Cultural Center Inc
- Assets
- $299.6m
- Revenue
- $28.7m
- Investments
- $135.4m
- Employees
- 512
- Location
- Los Angeles, CA
- Founding
- 11/2017
- Data as of
- 06/2023
- EIN
- 95-4217197
Organization Overview
Armand Hammer Museum Of Art And Cultural Center Inc is located in Los Angeles, CA. The organization was established in 2017. 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 06/2023, Armand Hammer Museum Of Art And Cultural Center Inc employed 512 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armand Hammer Museum Of Art And Cultural Center Inc 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 06/2023, Armand Hammer Museum Of Art And Cultural Center Inc generated $28.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $37.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
SEE SCHEDULE O.
PUBLIC & ACADEMIC PROGRAMS: THE HAMMER'S 300+ PROGRAMS EACH YEAR ARE DESIGNED TO SPARK MEANINGFUL ENCOUNTERS WITH ART AND IDEAS. THEY INCLUDE LECTURES, SYMPOSIA, UNIVERSITY OUTREACH, FILM SERIES, READINGS, FAMILY EVENTS, TOURS, AND MUSICAL PERFORMANCES. PROGRAM HIGHLIGHTS INCLUDED TWO SERIES ABOUT THE SUPREME COURT AND L.A.'S HOUSING CRISIS; THE "SUMMER NIGHT CINEMA" FILM SERIES CELEBRATING THE 50TH ANNIVERSARY OF HIP HOP; NUMEROUS PANELS AND PERFORMANCES IN CONJUNCTION WITH THE MADE IN LA BIENNIAL; AND POPULAR SERIES LIKE THE MOMA CONTENDERS FILM SERIES AND KCRW SUMMER CONCERTS. HAMMER MUSEUMS PROGRAM DETAILS ARE AVAILABLE ON OUR WEBSITE, WWW.HAMMER.UCLA.EDU.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Rubel President | OfficerTrustee | 2 | $0 |
Marcy Carsey Chairman | OfficerTrustee | 2 | $0 |
Steven A Olsen Treasurer | OfficerTrustee | 2 | $0 |
Gene D Block Director | Trustee | 1 | $0 |
Jay Brown Director | Trustee | 1 | $0 |
Eric Esrailian Director | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kpmg Llp Audit & Tax Services | 6/29/20 | $111,918 |
Lucques Catering Catering | 6/29/20 | $133,037 |
Westwood Restaurant Llc Catering | 6/29/20 | $300,717 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $461,168 |
| Fundraising events | $2,322,102 |
| Related organizations | $4,778,780 |
| Government grants | $106,310 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,018,359 |
| Noncash contributions included in lines 1a–1f | $10,252 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,686,719 |
| Total Program Service Revenue | $685,955 |
| Investment income | $2,117,727 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $57,412 |
| Net Rental Income | $575,783 |
| Net Gain/Loss on Asset Sales | $3,001,462 |
| Net Income from Fundraising Events | -$895,940 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $422,421 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,730,767 |
| 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. | $3,027,768 |
| Compensation of current officers, directors, key employees. | $729,511 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,329,875 |
| Pension plan accruals and contributions | $18,518 |
| Other employee benefits | $3,424,718 |
| Payroll taxes | $15,013 |
| Fees for services: Management | $30,000 |
| Fees for services: Legal | $64,749 |
| Fees for services: Accounting | $88,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,889,872 |
| Fees for services: Other | $1,825,453 |
| Advertising and promotion | $413,883 |
| Office expenses | $696,973 |
| Information technology | $522,280 |
| Royalties | $0 |
| Occupancy | $2,340,832 |
| Travel | $287,782 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $353,936 |
| Interest | $540,754 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,512,171 |
| Insurance | $324,447 |
| All other expenses | $6,092 |
| Total functional expenses | $36,991,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,063,637 |
| Savings and temporary cash investments | $10,644,018 |
| Pledges and grants receivable | $28,708,644 |
| Accounts receivable, net | $102,818 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $199,388 |
| Prepaid expenses and deferred charges | $12,682 |
| Net Land, buildings, and equipment | $115,888,005 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $135,387,056 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $601,883 |
| Total assets | $299,608,131 |
| Accounts payable and accrued expenses | $3,556,743 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $9,100,000 |
| Other liabilities | $1,377,736 |
| Total liabilities | $14,034,479 |
| Net assets without donor restrictions | $190,203,406 |
| Net assets with donor restrictions | $95,370,246 |
| 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 | $299,608,131 |