Frederick R Weisman Art Foundation
- Assets
- $103.4m
- Revenue
- $3.7m
- Investments
- $48.6m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/1994
- Data as of
- 12/2021
- EIN
- 95-4442307
Organization Overview
Frederick R Weisman Art Foundation is located in Los Angeles, CA. The organization was established in 1994. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frederick R Weisman Art Foundation 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 12/2021, Frederick R Weisman Art Foundation generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 2.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
MAINTAIN A PERMANENT ART COLLECTION AVAILABLE FOR VIEWING BY THE GENERAL PUBLIC; EITHER ON ITS PREMISES OR THROUGH AN ART LOAN-OUT AND EXHIBITION PROGRAM (SUPPORTED BY TECHNICAL AND OR FINANCIAL ASSISTANCE) TO OTHER MUSEUMS OR PUBLIC VENUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Billie Milam Weisman President, D | 40 | $323,030 | |
Sean Gray Manager | 0 | $84,737 | |
Kathryn Gallaher Adm Assistan | 0 | $59,332 | |
Elizabeth Rubio Supervisor | 0 | $55,156 | |
Larry Nathanson CPA Chief Fin. O | 0 | $0 | |
Frederick M Nicholas Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40 |
| Interest on Savings | $209,700 |
| Dividends & Interest | $976,666 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,462,060 |
| Capital Gain Net Income | $2,458,801 |
| Net ST Capital Gain | $305,243 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $62,944 |
| Total Revenue | $3,711,410 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $323,030 |
| Other employee salaries and wages | $355,236 |
| Pension plans, employee benefits | $125,975 |
| Interest | $0 |
| Taxes | $130,589 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,494,565 |
| Total operating and administrative expenses | $2,438,921 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,438,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $1,968,261 |
| Net Accounts receivable | $20,297 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $36,821 |
| Prepaid expenses and deferred charges | $188,905 |
| Net Investments - land, buildings, equipment | $4,721,754 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,948,869 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $47,845,947 |
| Total assets | $103,361,969 |
| Accounts payable and accrued expenses | $447,869 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $447,869 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Museum Of Contemporary Art Los Angeles, CA | $173,324,238 | $20,204,928 |
San Diego Museum Of Art San Diego, CA | $78,902,831 | $13,995,818 |
Honolulu Museum Of Art Honolulu, HI | $136,524,458 | $12,640,830 |
Phoenix Art Museum Phoenix, AZ | $7,242,004 | $9,400,156 |
Crocker Art Museum Association Sacramento, CA | $31,464,464 | $12,237,025 |
Nevada Museum Of Art Inc Reno, NV | $65,871,084 | $23,939,678 |
Santa Barbara Museum Of Art Santa Barbara, CA | $142,171,274 | $22,074,169 |
Museum Of Contemporary Art San Diego San Diego, CA | $162,622,820 | $13,720,273 |
Norton Simon Museum Of Art At Pasadena Pasadena, CA | $122,399,582 | $8,241,771 |
San Jose Museum Of Art Association San Jose, CA | $16,287,073 | $5,738,899 |
Orange County Museum Of Art Costa Mesa, CA | $94,177,600 | $20,684,828 |
Broad Art Foundation Los Angeles, CA | $604,724,418 | $1,209,304 |