The Nelson Gallery Foundation: Nonprofit Profile, Financials & Form 990 (EIN 44-6012977)

Revenue by fiscal year
FY2020	$35.5M
FY2021	$18.1M
FY2022	$25.7M
FY2023	$10.4M
FY2024	$36.2M
FY2025	$55.6M

Expenses by fiscal year
FY2020	$46.6M
FY2021	$35.7M
FY2022	$35.6M
FY2023	$41.7M
FY2024	$49.0M
FY2025	$51.0M

Net assets by fiscal year
FY2020	$417.9M
FY2021	$492.7M
FY2022	$476.0M
FY2023	$462.5M
FY2024	$475.5M
FY2025	$502.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1957.

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

Where the money goes

70 cents of each dollar spent went to programs.

70%

18%

Program services 70% · $35.9M Management & general 18% · $9.3M Fundraising 11% · $5.7M

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

Who runs it and what they're paid

32 people listed on the 990; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Julian Zugazagoitia

Director/CEO

$821,428Pt VII · Sec A

Amanda Stone

Executive Vice President

$246,066Pt VII · Sec A

Steven Waterman

Deputy Director, Design & Exp

$228,901Pt VII · Sec A

Tammy J Bluhm

Vice President, Finanace /CFO

$223,372Pt VII · Sec A

William Rudolph

Deputy Dir, Curatorial Affairs

$216,532Pt VII · Sec A

Nicolle Ratliff

Vice President, Development

$215,776Pt VII · Sec A

Bill Gautreaux

Trustee

$0Pt VII · Sec A

Bill Lyons

Trustee

$0Pt VII · Sec A

Julian Zugazagoitia’s $821K as Director/CEO is at the 95th percentile of top reported officer pay among 749 $10–100M 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.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Julian Zugazagoitia	$821,428	$680,842	$661,469	$702,876	$651,101	$740,096
Karen Christiansen	—	—	$325,843	$386,799	$350,256	$333,423
Maranda Hathaway	—	—	$259,450	—	—	—
Hathaway Maranda	—	—	$259,450	$212,355	$219,756	$205,474
Amanda Stone	$246,066	$238,171	$204,294	$178,438	$180,936	$175,631
Steven Waterman	$228,901	$219,549	$209,832	$195,663	$202,000	$203,396
Tammy J Bluhm	$223,372	$215,725	—	—	—	—
William Rudolph	$216,532	$208,697	$199,761	$184,101	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Nelson Gallery Foundation executive salaries →

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Questions the 990 asks

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

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes public interest in art through exhibitions, educational programs, and community outreach at the Nelson-Atkins Museum of Art.

Provided by the organization

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1 program service account for $35.9M of program spending, described in the organization's own filed words · FY2024.

01

See schedule o

$35.9Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2025

Jewel BallFY2025$190K

Louetta M Cowden FoundationFY2025$55K

Nichols Company Charitable TrustFY2025$20K

Total grants receivedfrom 3 funders$265K

See all 3 funders →

Grants paid · 2 grants · $131K · 2019–2019

Unitemized GrantFY2019$66,346

Unitemized GrantFY2019$64,547

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$55.6M

Ln 12

Investment incomeLn 3$25.5M

Gifts and grantsLn 1h$24.7M

Other incomeLn 4–11$3.3M

Money outPt IX

$51.0M

Ln 25

Programscol B$35.9M

Managementcol C$9.3M

Fundraisingcol D$5.7M

Owns and owesPt X

$502.0M

net assets · Ln 32

Cash and savingsLn 1–2$4.0M

Total assetsLn 16$611.5M

LiabilitiesLn 26$109.5M

PeoplePt VI, VII

32

listed · VII A

PaidVII A6

Voting boardVI 1a26

IndependentVI 1b26

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$24.7M

Government grantsLn 1e$0

Noncash giftsLn 1g$203K

Fundraising eventsLn 1c$2.8M

Fees for servicesLn 2g$2.0M

Investment incomeLn 3$25.5M

Other incomeLn 4–11$3.3M

Gains on assetsLn 7$22.3M

Total revenueLn 12$55.6M

Assets in detailPt X, end of year

CashLn 1$2.8M

SavingsLn 2$1.2M

Cash and savings togetherLn 1–2$4.0M

InvestmentsLn 11–13$379.5M

Land, buildings, equipmentLn 10c$161.6M

Other assetsLn 15$17.8M

Total assetsLn 16$611.5M

LiabilitiesLn 26$109.5M

Net assetsLn 32$502.0M

OperationsPt I, VI

EmployeesI 5462

VolunteersI 6532

Fiscal year endsHeaderApril

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$8.6M	$4.0M
InvestmentsLn 11–13	$350.8M	$379.5M
Land, buildings, equipmentLn 10c	$168.8M	$161.6M
Total assetsLn 16	$601.7M	$611.5M
LiabilitiesLn 26	$126.2M	$109.5M
Net assetsLn 32	$475.5M	$502.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$0	$0
Pay of current officers, directors and key staffLn 5	$847K	$381K	$169K	$297K
Other salaries and wagesLn 7	$17.8M	$13.2M	$2.3M	$2.3M
Pension plan contributionsLn 8	$915K	$693K	$116K	$106K
Other employee benefitsLn 9	$1.7M	$1.3M	$229K	$227K
Payroll taxesLn 10	$1.3M	$949K	$175K	$179K
Management feesLn 11a	$315K	$216K	$71K	$28K
Legal feesLn 11b	$132K	$90K	$30K	$12K
Accounting feesLn 11c	$155K	$107K	$35K	$14K
Investment management feesLn 11f	$1.1M		$1.1M
Other fees for servicesLn 11g	$6.5M	$4.4M	$1.5M	$604K
Advertising and promotionLn 12	$371K	$291K	$25K	$55K
Office expensesLn 13	$2.9M	$1.9M	$359K	$621K
OccupancyLn 16	$3.3M	$2.4M	$711K	$221K
TravelLn 17	$894K	$390K	$410K	$93K
InterestLn 20	$3.8M	$3.0M	$492K	$303K
Depreciation, depletion and amortizationLn 22	$8.2M	$6.2M	$1.4M	$576K
InsuranceLn 23	$427K	$361K	$47K	$19K
Other expenses (24a–d)Ln 24	$143K	$16K	$34K	$93K
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$51.0M	$35.9M	$9.3M	$5.7M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$55.6M	$51.0M	$4.6M	$502.0M	990 PDF
FY2024	$36.2M	$49.0M	−$12.8M	$475.5M	990 PDF
FY2023	$10.4M	$41.7M	−$31.3M	$462.5M	990 PDF
FY2022	$25.7M	$35.6M	−$9.9M	$476.0M	990 PDF
FY2021	$18.1M	$35.7M	−$17.7M	$492.7M	990 PDF
FY2020	$35.5M	$46.6M	−$11.1M	$417.9M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (4 parts)

Part VIII · Statement of revenue $55,555,683 across 16 lines filed

Lines not itemized here account for $1,025,182 of total revenue; see the IRS return.

VIII-1a Federated campaigns$0

VIII-1b Membership dues$4,887,530

VIII-1c Fundraising events$2,844,518

VIII-1d Related organizations$1,914,476

VIII-1e Government grants$0

VIII-1f All other contributions, gifts and grants$15,073,377

VIII-1g Noncash contributions (included above)$202,857

VIII-1h Total contributions, gifts and grants$24,719,901

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,023,850 · Unrelated business $0 · Excluded from tax $0$2,023,850

VIII-3 Investment incomeRelated to mission $0 · Unrelated business $1,375,541 · Excluded from tax $1,899,125$3,274,666

VIII-5 RoyaltiesRelated to mission $9,293 · Unrelated business $0 · Excluded from tax $0$9,293

VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax −$32,646−$32,646

VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $22,260,788$22,260,788

VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$404,812−$404,812

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,315,594 · Unrelated business $363,867 · Excluded from tax $0$2,679,461

VIII-12 Total revenueRelated to mission $5,373,919 · Unrelated business $1,739,408 · Excluded from tax $23,722,455$55,555,683

Part IX · Statement of functional expenses $50,993,315 across 20 lines filed

IX-4 Benefits paid to or for membersPrograms $0$0

IX-5 Pay of current officers, directors and key staffPrograms $381,340 · Management $169,484 · Fundraising $296,598$847,422

IX-7 Other salaries and wagesPrograms $13,227,682 · Management $2,336,390 · Fundraising $2,278,493$17,842,565

IX-8 Pension plan contributionsPrograms $692,912 · Management $115,843 · Fundraising $106,425$915,180

IX-9 Other employee benefitsPrograms $1,277,468 · Management $229,117 · Fundraising $226,523$1,733,108

IX-10 Payroll taxesPrograms $948,845 · Management $175,374 · Fundraising $178,893$1,303,112

IX-11a Management feesPrograms $215,999 · Management $71,069 · Fundraising $27,866$314,934

IX-11b Legal feesPrograms $90,367 · Management $29,733 · Fundraising $11,658$131,758

IX-11c Accounting feesPrograms $106,548 · Management $35,057 · Fundraising $13,746$155,351

IX-11f Investment management feesManagement $1,119,215$1,119,215

IX-11g Other fees for servicesPrograms $4,397,826 · Management $1,539,434 · Fundraising $603,611$6,540,871

IX-12 Advertising and promotionPrograms $290,973 · Management $25,103 · Fundraising $54,815$370,891

IX-13 Office expensesPrograms $1,933,911 · Management $358,505 · Fundraising $620,819$2,913,235

IX-16 OccupancyPrograms $2,405,484 · Management $710,755 · Fundraising $220,895$3,337,134

IX-17 TravelPrograms $390,418 · Management $409,926 · Fundraising $93,398$893,742

IX-20 InterestPrograms $2,988,848 · Management $491,836 · Fundraising $302,668$3,783,352

IX-22 Depreciation, depletion and amortizationPrograms $6,215,979 · Management $1,428,673 · Fundraising $576,482$8,221,134

IX-23 InsurancePrograms $360,739 · Management $46,935 · Fundraising $19,390$427,064

IX-24 Other expenses (24a–d)Programs $16,368 · Management $34,309 · Fundraising $92,570$143,247

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $35,941,707 · Management $9,326,758 · Fundraising $5,724,850$50,993,315

Part X · Balance sheet $611,458,414 assets, 23 lines filed

X-1 Cash, non-interest-bearingStart of year $3,425,983$2,756,401

X-2 Savings and temporary cash investmentsStart of year $5,145,762$1,238,877

X-3 Pledges and grants receivableStart of year $60,723,929$48,053,258

X-4 Accounts receivableStart of year $116,936$267,420

X-8 Inventories for sale or useStart of year $156,701$137,076

X-9 Prepaid expenses and deferred chargesStart of year $83,696$160,410

X-10c Land, buildings and equipment, netStart of year $168,839,210$161,585,065

X-11 Publicly traded securitiesStart of year $180,110,797$0

X-12 Other securitiesStart of year $170,730,448$379,486,720

X-14 Intangible assetsStart of year $0$0

X-15 Other assetsStart of year $12,342,324$17,773,187

X-16 Total assetsStart of year $601,675,786$611,458,414

X-17 Accounts payable and accrued expensesStart of year $4,938,279$4,744,044

X-18 Grants payableStart of year $0$0

X-19 Deferred revenueStart of year $0$0

X-20 Tax-exempt bond liabilitiesStart of year $121,243,480$104,723,236

X-24 Unsecured notes and loans payableStart of year $0$0

X-25 Other liabilitiesStart of year $0$0

X-26 Total liabilitiesStart of year $126,181,759$109,467,280

X-27 Net assets without donor restrictionsStart of year $266,894,077$276,680,523

X-28 Net assets with donor restrictionsStart of year $208,599,950$225,310,611

X-32 Total net assets or fund balancesStart of year $475,494,027$501,991,134

X-33 Total liabilities and net assetsStart of year $601,675,786$611,458,414

Part XI · Reconciliation of net assets $501,991,134 net assets at year end

XI-1 Total revenue$55,555,683

XI-2 Total expenses$50,993,315

XI-3 Revenue less expenses$4,562,368

XI-4 Net assets at start of year$475,494,027

XI-5 Net unrealized gains (losses) on investments$25,809,556

XI-9 Other changes in net assets−$3,874,817

XI-10 Net assets at end of year$501,991,134

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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The Nelson Gallery Foundation

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