Putnam Foundation
- Assets
- $48.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 10
- Location
- San Diego, CA
- Founding
- 06/1952
- Data as of
- 03/2022
- EIN
- 95-6037070
Organization Overview
Putnam Foundation is located in San Diego, CA. The organization was established in 1952. 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 03/2022, Putnam Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Putnam 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 03/2022, Putnam Foundation generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.7m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PUTNAM FOUNDATION IS A NON-PROFIT ORGANIZATION WHOSE PRIMARY ACTIVITY IS THE EDUCATION OF THE PUBLIC IN FINE ARTS THROUGH THE OPERATION OF THE TIMKEN MUSEUM OF ART LOCATED IN BALBOA PARK IN SAN DIEGO, CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PUTNAM FOUNDATION (THE FOUNDATION) IS A NON-PROFIT ORGANIZATION WHOSE PRIMARY ACTIVITY IS THE EDUCATION OF THE PUBLIC IN FINE ARTS THROUGH THE OPERATION OF THE TIMKEN MUSEUM OF ART (THE MUSEUM) LOCATED IN BALBOA PARK IN SAN DIEGO, CALIFORNIA, AND IS THE ONLY FINE ART MUSEUM IN SAN DIEGO THAT DOES NOT CHARGE ADMISSION. ACCESSIBILITY, WHETHER THROUGH OUR FREE-ADMISSION POLICY OR THROUGH OUTREACH TO UNDERSERVED GROUPS IN THE COMMUNITY IS AT THE HEART OF THE TIMKEN. IN ADDITION TO CONTRIBUTIONS, THE FOUNDATION RECEIVES INCOME FROM ENDOWMENT FUNDS AND A PERPETUAL TRUST, WHICH PROVIDE RESTRICTED AND UNRESTRICTED INCOME.
EDUCATIONAL PROGRAMS:THE MUSEUMS EDUCATIONAL PROGRAMS, BROAD AND VARIED, ARE OFFERED THROUGHOUT THE YEAR AND ARE FREE OF CHARGE. THE PROGRAMS, BOTH IN THE MUSEUM AND OUT IN THE COMMUNITY INCLUDE SCHOOL RESIDENCIES, CLASSES AT JUVENILE HALL, AND BALBOA NAVAL MEDICAL CENTER, SCHOOL TOURS, TEACHER TRAININGS, FAMILY ART MAKING, DOCENT TOURS, ART PROGRAMS IN SENIOR RESIDENCE AND OUTREACH ESPAOL OUR BI-NATIONAL PROGRAM WHICH PROVIDES TRANSPORTATION TO THE MUSEUM AND TOURS IN SPANISH FOR STUDENTS IN BAJA CA. IN ADDITION OUR EDUCATIONAL PROGRAMS ALSO INCLUDE EXHIBITIONS, ARTIST IN RESIDENCY AND MUSICAL PERFORMANCES. OUR EXHIBITIONS EXAMINE, IN DEPTH, A SPECIFIC PAINTING OR BODY OF WORK IN THE MUSEUMS COLLECTION, BY PLACING THE WORK OR WORKS INTO THE BROADER CONTEXT OF THE ART AND CULTURE OF ITS TIME. OUR INTENT IS TO EXPAND AND DEEPEN OUR VIEWERS UNDERSTANDING OF ART AND SPECIFICALLY THE PIECES IN OUR COLLECTION. EXHIBITIONS ARE AN ESSENTIAL PART OF THE TIMKENS EDUCATIONAL PROGRAMS AND WE BELIEVE OUR FREE ADMISSION MANDATE PROMOTES ART AWARENESS AND APPRECIATION BY MAKING OUR COLLECTION ACCESSIBLE TO ANY AND ALL THAT VISIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Pogue Executive Dir. | Officer | 40 | $222,442 |
Holly Martin-Bollard Director Of Ops | 40 | $92,904 | |
Eric Bockstahler Director Of Fin | 40 | $89,618 | |
Gary Cady Vice Chair | OfficerTrustee | 2 | $0 |
Fred Kleinbub Treasurer | OfficerTrustee | 2 | $0 |
Jessie Knight Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $108,748 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $568,311 |
| All other contributions, gifts, grants, and similar amounts not included above | $332,957 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,010,016 |
| Total Program Service Revenue | $0 |
| Investment income | $945,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$396 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,026,658 |
| 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. | $213,031 |
| Compensation of current officers, directors, key employees. | $17,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $573,050 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108,789 |
| Payroll taxes | $54,003 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $225,584 |
| Advertising and promotion | $31,475 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $187,325 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,643 |
| Insurance | $83,187 |
| All other expenses | $23,618 |
| Total functional expenses | $1,719,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $535,335 |
| Savings and temporary cash investments | $394,998 |
| Pledges and grants receivable | $4,830,709 |
| 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 | $30,767 |
| Prepaid expenses and deferred charges | $197,608 |
| Net Land, buildings, and equipment | $297,734 |
| Investments—publicly traded securities | $9,745,428 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,037,499 |
| Total assets | $48,070,078 |
| Accounts payable and accrued expenses | $244,951 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $244,951 |
| Net assets without donor restrictions | $17,636,728 |
| Net assets with donor restrictions | $30,188,399 |
| 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 | $48,070,078 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Putnam Foundation has recieved totaling $1,663,848.
| Awarding Organization | Amount |
|---|---|
Timken Foundation Of Canton Canton, OH PURPOSE: MUSEUM EXPANSION PROJECT | $1,635,457 |
Patrons Of The Prado San Diego, CA PURPOSE: MUSEUM SUPPORT | $28,391 |
Endowment Analysis
| Beg. Balance | $24,693,597 |
| Earnings | $764,462 |
| Other Expense | $1,268,642 |
| Ending Balance | $24,189,417 |
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 |