Broad Art Foundation
- Assets
- $622.5m
- Revenue
- -$158.4k
- Investments
- $59.1m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 04/1998
- Data as of
- 12/2019
- EIN
- 95-4664939
Broad Art Foundation Overview
Broad Art Foundation is located in Los Angeles, CA. The organization was established in 1998. 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.
Since 2015, Broad Art Foundation has awarded 117 individual grants totaling $67,532,714. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART ACQUISITION FOR LOAN PROGRAM
ART EXHIBITION, STUDY, AND LOAN PROGRAM (SEE ATTACHED DESCRIPTION OF ACTIVITIES)
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Broad Art Foundation Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Heyler Mng Dir/chf Cur | 10 | $150,000 | |
Eli Broad Trustee | 10 | $0 | |
Edythe Broad Trustee | 5 | $0 |
Broad Art Foundation Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Family Office Investment Services Llc | 12/30/19 | $68,404 |
Family Office Financial Services | 12/30/19 | $137,304 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,736,168 |
| Interest on Savings | $336,767 |
| Dividends & Interest | $2,274 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,234,905 |
| Capital Gain Net Income | $18,492,382 |
| Net ST Capital Gain | $0 |
| Income Modifications | $908,841 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,264 |
| Total Revenue | -$158,432 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $150,000 |
| Other employee salaries and wages | $79,588 |
| Pension plans, employee benefits | $32,681 |
| Interest | $0 |
| Taxes | $606,013 |
| Depreciation | $8,416 |
| Occupancy | $1,980 |
| Travel, conferences, and meetings | $60,078 |
| Printing and publications | $0 |
| Other expenses | $529,938 |
| Total operating and administrative expenses | $1,752,337 |
| Contributions, gifts, grants paid | $4,315,769 |
| Total expenses and disbursements | $6,068,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,016 |
| Savings and temporary cash investments | $19,485,685 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $110,497 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $59,143,632 |
| Net Land, buildings, and equipment | $2,641 |
| Other assets | $543,693,950 |
| Total assets | $622,456,421 |
| Accounts payable and accrued expenses | $56,730 |
| Grants payable | $39,869,694 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $187,444 |
| Total liabilities | $40,113,868 |
Broad Art Foundation Grants Awarded
Over the last fiscal year, Broad Art Foundation has awarded $12,535,908 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
THE BROAD PURPOSE: TOWARDS OPERATING SUPPORT | $12,000,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $300,000 |
Los Angeles, CA PURPOSE: GENERAL SUPPORT | $96,268 |
HAMMER MUSEUM PURPOSE: GENERAL SUPPORT | $50,000 |
Los Angeles, CA PURPOSE: EXHIBITION SUPPORT TO TIME IS RUNNING OUT OF TIME: EXPERIMENTAL FILM AND VIDEO FROM THE L.A. REBELLION AND TODAY | $40,000 |
Los Angeles, CA PURPOSE: GENERAL SUPPORT | $10,000 |
Broad Art Foundation Grants Recieved
Over the last fiscal year, we have identified 1 grants that Broad Art Foundation has recieved totaling $22,300,000.
| Awarding Organization | Amount |
|---|---|
Broad Foundation Los Angeles, CA PURPOSE: ARTS - TO SUPPORT ART LENDING ACTIVITIES | $22,300,000 |
Broad Art Foundation Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Santa Barbara Museum Of Art Santa Barbara, CA | $123,627,436 | $12,248,633 |
Museum Of Contemporary Art San Diego San Diego, CA | $122,838,995 | $11,456,776 |
Norton Simon Museum Of Art At Pasadena Pasadena, CA | $102,922,393 | $5,499,014 |
Broad Art Foundation Los Angeles, CA | $622,456,421 | -$158,432 |
San Jose Museum Of Art Association San Jose, CA | $16,112,834 | $5,280,893 |
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