Arnot Art Museum FY2022 filing

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The Arnot Art Museum is an exhibiting and collecting fine arts Museum, accredited by the american association of museums. The Museum exhibits its permanent collection of 17th-19th century european paintings and sculpture; 19th century american paintings and sculpture; and contemporary realist Art from all over the world; temporary exhibitions consisting of loaned works are also presented.

501(c)(3) charity; gifts are tax-deductible.
37¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $29K a year · 5% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
37%
of spending
Concern: 37% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
4 mo
of spending, in cash
Plus $4.7M in investments, Pt X · Ln 11–13
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $52K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$38K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$768K
+22% vs prior year
Spent
$526K
To programs
37%
Net assets
$5.8M
By yearFY2020–FY2023
Revenue
$768K
FY2022▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2020$629K
FY2022$768K
FY2023$460K
Expenses
$526K
FY2022▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$552K
FY2022$526K
FY2023$691K
Net assets
$5.8M
FY2022▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.6M
FY2022$5.8M
FY2023$5.9M

From the FY2022 Form 990 (year ending August 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Oct 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

37 cents of each dollar spent went to programs.

Program services 37% · $196K Management & general 54% · $284K Fundraising 9% · $46K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Marc Hample’s $4 as Trustee is at the 0th percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Arnot Art Museum executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Displays and collects fine art, including European paintings, American art, and contemporary realism.

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3 programs · $196K · in their own filed words · FY2021
01

Exhibits

The acquistion and maintenance of art exhibits

$93Kprogram expense
02

Education

Operating art camps and other educational activities for area youth.

$51Kprogram expense
03

Public Information

Performing outreach activities for the promotion of the arts.

$51Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$768K
Ln 12
Investment incomeLn 3$440K
Gifts and grantsLn 1h$277K
Other incomeLn 4–11$45K
Money outPt IX
$526K
Ln 25
Programscol B$196K
Managementcol C$284K
Fundraisingcol D$46K
Owns and owesPt X
$5.8M
net assets · Ln 32
Cash and savingsLn 1–2$181K
Total assetsLn 16$5.8M
LiabilitiesLn 26$38K
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$277K
Government grantsLn 1e$50K
Fees for servicesLn 2g$6K
Investment incomeLn 3$440K
Other incomeLn 4–11$45K
Gains on assetsLn 7$351K
Total revenueLn 12$768K
Assets in detailPt X, end of year
CashLn 1$200
SavingsLn 2$181K
Cash and savings togetherLn 1–2$181K
Prepaid expenses and deferred chargesLn 9$4K
Land, buildings, equipmentLn 10c$986K
InvestmentsLn 11–13$4.7M
Total assetsLn 16$5.8M
LiabilitiesLn 26$38K
Net assetsLn 32$5.8M
OperationsPt I, VI
EmployeesI 56
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
EndowmentSch D · Pt V
LineFY22FY21FY20FY19FY18
End of yearLn 1g$4.7M$5.6M$4.5M$4.1M$4.3M
Given inLn 1b$3K$48K$2K$38K
SpentLn 1d–1f$259K$114K$257K$248K$252K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$87K$181K
InvestmentsLn 11–13$5.6M$4.7M
Land, buildings, equipmentLn 10c$1.0M$986K
Total assetsLn 16$6.7M$5.8M
LiabilitiesLn 26$39K$38K
Net assetsLn 32$6.6M$5.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$84K$44K$33K$8K
Other salaries and wagesLn 7$131K$68K$51K$12K
Other employee benefitsLn 9$25K$13K$10K$2K
Payroll taxesLn 10$17K$9K$7K$2K
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$378$378
Office expensesLn 13$922$922
OccupancyLn 16$50K$453$49K
TravelLn 17$496$496
InterestLn 20$867$867
Depreciation, depletion and amortizationLn 22$63K$33K$24K$6K
InsuranceLn 23$34K$34K
Other expenses (24a–d)Ln 24$78K$10K$50K$18K
All other expensesLn 24e$30K$19K$11K
Total functional expensesLn 25$526K$196K$284K$46K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 LatestFiled with the IRS Jun 5, 2024 $460K$691K−$230K$5.9M 990 PDF
FY2022 ViewingFiled with the IRS Jul 11, 2023 $768K$526K$241K$5.8M 990 PDF
FY2021 Not on file
FY2020Filed with the IRS Jan 12, 2021 $629K$552K$77K$5.6M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $767,889 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $249,462$276,761
I-9 Program service revenuePrior year $4,897$5,702
I-10 Investment incomePrior year $1,003,553$440,453
I-11 Other revenuePrior year $55,740$44,973
I-12 Total revenuePrior year $1,313,652$767,889
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $294,370$256,843
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $269,739$269,578
I-18 Total expensesPrior year $564,109$526,421
I-19 Revenue less expensesPrior year $749,543$241,468
Part VI · Governance 16 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $767,889 across 9 lines filed
Lines not itemized here account for $42,653 of total revenue; see the IRS return.
VIII-1b Membership dues$63,107
VIII-1e Government grants$50,500
VIII-1f All other contributions, gifts and grants$163,154
VIII-1h Total contributions, gifts and grants$276,761
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $5,702$5,702
VIII-3 Investment incomeExcluded from tax $88,987$88,987
VIII-6 Net rental income or lossExcluded from tax $2,320$2,320
VIII-7 Net gain or loss on sales of assetsRelated to mission $326,230 · Excluded from tax $25,236$351,466
VIII-12 Total revenueRelated to mission $331,362 · Excluded from tax $159,766$767,889
Part IX · Statement of functional expenses $526,421 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $43,873 · Management $32,904 · Fundraising $7,593$84,370
IX-7 Other salaries and wagesPrograms $68,041 · Management $51,046 · Fundraising $11,778$130,865
IX-9 Other employee benefitsPrograms $12,864 · Management $9,648 · Fundraising $2,226$24,738
IX-10 Payroll taxesPrograms $8,773 · Management $6,579 · Fundraising $1,518$16,870
IX-11c Accounting feesManagement $12,254$12,254
IX-12 Advertising and promotionPrograms $378$378
IX-13 Office expensesManagement $922$922
IX-16 OccupancyPrograms $453 · Management $49,270$49,723
IX-17 TravelManagement $496$496
IX-20 InterestManagement $867$867
IX-22 Depreciation, depletion and amortizationPrograms $32,566 · Management $24,425 · Fundraising $5,637$62,628
IX-23 InsuranceManagement $34,476$34,476
IX-24 Other expenses (24a–d)Programs $10,191 · Management $50,179 · Fundraising $17,663$78,033
IX-24e All other expensesPrograms $18,838 · Management $10,963$29,801
IX-25 Total functional expensesPrograms $195,977 · Management $284,029 · Fundraising $46,415$526,421
Part X · Balance sheet $5,845,767 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $200$200
X-2 Savings and temporary cash investmentsStart of year $86,338$180,693
X-9 Prepaid expenses and deferred chargesStart of year $3,610$4,052
X-10c Land, buildings and equipment, netStart of year $1,021,653$986,305
X-11 Publicly traded securitiesStart of year $5,569,253$4,674,517
X-16 Total assetsStart of year $6,681,054$5,845,767
X-17 Accounts payable and accrued expensesStart of year $5,756$7,110
X-25 Other liabilitiesStart of year $33,204$30,936
X-26 Total liabilitiesStart of year $38,960$38,046
X-27 Net assets without donor restrictionsStart of year $5,893,714$5,182,511
X-28 Net assets with donor restrictionsStart of year $748,380$625,210
X-32 Total net assets or fund balancesStart of year $6,642,094$5,807,721
X-33 Total liabilities and net assetsStart of year $6,681,054$5,845,767
Part XI · Reconciliation of net assets $5,807,721 net assets at year end
XI-1 Total revenue$767,889
XI-2 Total expenses$526,421
XI-3 Revenue less expenses$241,468
XI-4 Net assets at start of year$6,642,094
XI-5 Net unrealized gains (losses) on investments−$1,075,841
XI-10 Net assets at end of year$5,807,721

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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