Nebraska Art Association

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Through stewardship of our collection and financial resources, the sheldon Art Association supports the sheldon museum of arts mission to inspire inquiry and discovery, serving the university of Nebraska, the state, and beyond.

501(c)(3) charity; gifts are tax-deductible.
22¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $366K a year · 50% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
22%
of spending
Concern: 22% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
11 mo
of spending, in cash
Plus $5.4M in investments, Pt X · Ln 11–13
Looks good: 10.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $67K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$30K
0.5% of total assets
Looks good: liabilities are 0% 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
$867K
+71% vs prior year
Spent
$421K
To programs
22%
Net assets
$5.7M
By yearFY2020–FY2025
Revenue
$867K
FY2025▲ +71%
Tap a bar for its year
Revenue by fiscal year
FY2020$406K
FY2021$535K
FY2022$1.3M
FY2023$824K
FY2024$506K
FY2025$867K
Expenses
$421K
FY2025▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$358K
FY2021$293K
FY2022$415K
FY2023$345K
FY2024$367K
FY2025$421K
Net assets
$5.7M
FY2025▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.9M
FY2021$3.4M
FY2022$3.7M
FY2023$4.5M
FY2024$5.1M
FY2025$5.7M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1950.

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

Where the money goes

22 cents of each dollar spent went to programs.

Program services 22% · $93K Management & general 68% · $288K Fundraising 10% · $40K

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

Something off? Claim to add context

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Nebraska Art Association 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 15aNo

Programs and updates

Supports an art museum's mission to inspire inquiry and discovery through collection and financial stewardship.

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3 programs · $57K · in their own filed words · FY2024
01

The membership helps to support engagement and outreach programs that create opportunities to advance creative, critical thinking. Through public programs, k-12 and higher education collaboration, and partnerships for teaching and research, the museum supports educational enrichment and community engagement.

$20Kprogram expense
02

Exhibitions. Sheldon showcases its collection in thematic presentations supplemented by traveling exhibitions and select incoming loans. Exhibitions are planned on a semester-based schedule to support educators using exhibitions to meet curricular outcomes.

$19Kprogram expense
03

Collections. Sheldons collection comprises works of international distinction in diverse media. The collection includes prominent works of nineteenth-century landscape and still life, american impressionism, early modernism, geometric abstraction, abstract expressionism, minimalism, and photography.

$18Kprogram 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 FY2025 990, line by line.

1The main four
Money inPt VIII
$867K
Ln 12
Gifts and grantsLn 1h$460K
Investment incomeLn 3$380K
Fees for servicesLn 2g$23K
Money outPt IX
$421K
Ln 25
Programscol B$93K
Managementcol C$288K
Fundraisingcol D$40K
Owns and owesPt X
$5.7M
net assets · Ln 32
Cash and savingsLn 1–2$374K
Total assetsLn 16$5.8M
LiabilitiesLn 26$30K
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$460K
Fees for servicesLn 2g$23K
Investment incomeLn 3$380K
Other incomeLn 4–11$5K
Gains on assetsLn 7$235K
Total revenueLn 12$867K
Assets in detailPt X, end of year
SavingsLn 2$374K
Cash and savings togetherLn 1–2$374K
Prepaid expenses and deferred chargesLn 9$7K
Land, buildings, equipmentLn 10c$734
InvestmentsLn 11–13$5.4M
Total assetsLn 16$5.8M
LiabilitiesLn 26$30K
Net assetsLn 32$5.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$41K
Share of the $5.4M endowmentSch D 1g0.77%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY25FY24FY23FY22FY21
End of yearLn 1g$5.4M$4.9M$4.3M$2.9M$2.9M
Given inLn 1b$1.1M$511K$409K
SpentLn 1d–1f$12K$51K$35K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$248K$374K
InvestmentsLn 11–13$4.9M$5.4M
Land, buildings, equipmentLn 10c$1K$734
Total assetsLn 16$5.1M$5.8M
LiabilitiesLn 26$12K$30K
Net assetsLn 32$5.1M$5.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$56K$17K$38K$1K
Investment management feesLn 11f$41K$41K
Other fees for servicesLn 11g$12K$12K
Advertising and promotionLn 12$3K$3K$40
Office expensesLn 13$6K$3K$62$4K
Information technologyLn 14$2K$286$1K
TravelLn 17$9K$1K$8K
Conferences, conventions and meetingsLn 19$850$850
Depreciation, depletion and amortizationLn 22$490$490
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$268K$56K$177K$35K
All other expensesLn 24e$20K$2K$18K
Total functional expensesLn 25$421K$93K$288K$40K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS May 15, 2026 $867K$421K$446K$5.7M 990 PDF
FY2024Filed with the IRS May 15, 2025 $506K$367K$139K$5.1M 990 PDF
FY2023Filed with the IRS May 15, 2024 $824K$345K$478K$4.5M 990 PDF
FY2022Filed with the IRS May 15, 2023 $1.3M$415K$840K$3.7M 990 PDF
FY2021Filed with the IRS May 16, 2022 $535K$293K$243K$3.4M 990 PDF
FY2020Filed with the IRS May 13, 2021 $406K$358K$48K$2.9M 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 FY2025 990 (6 parts)
Part I · Summary $867,394 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $404,041$460,066
I-9 Program service revenue$22,731
I-10 Investment incomePrior year $99,092$379,897
I-11 Other revenuePrior year $3,290$4,700
I-12 Total revenuePrior year $506,423$867,394
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $366,976$421,033
I-18 Total expensesPrior year $366,976$421,033
I-19 Revenue less expensesPrior year $139,447$446,361
Part VI · Governance 16 of 16 board members independent, 4 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-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $867,394 across 7 lines filed
Lines not itemized here account for $4,700 of total revenue; see the IRS return.
VIII-1b Membership dues$93,755
VIII-1f All other contributions, gifts and grants$366,311
VIII-1h Total contributions, gifts and grants$460,066
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $22,731$22,731
VIII-3 Investment incomeExcluded from tax $144,561$144,561
VIII-7 Net gain or loss on sales of assetsExcluded from tax $235,336$235,336
VIII-12 Total revenueRelated to mission $22,731 · Unrelated business $4,700 · Excluded from tax $379,897$867,394
Part IX · Statement of functional expenses $421,033 across 12 lines filed
IX-11c Accounting feesPrograms $16,761 · Management $37,984 · Fundraising $1,260$56,005
IX-11f Investment management feesManagement $41,323$41,323
IX-11g Other fees for servicesPrograms $11,535$11,535
IX-12 Advertising and promotionPrograms $2,640 · Management $40$2,680
IX-13 Office expensesPrograms $2,588 · Management $62 · Fundraising $3,554$6,204
IX-14 Information technologyPrograms $286 · Management $1,498$1,784
IX-17 TravelPrograms $1,299 · Management $8,013$9,312
IX-19 Conferences, conventions and meetingsManagement $850$850
IX-22 Depreciation, depletion and amortizationManagement $490$490
IX-23 InsuranceManagement $2,804$2,804
IX-24 Other expenses (24a–d)Programs $56,461 · Management $176,520 · Fundraising $35,389$268,370
IX-24e All other expensesPrograms $1,665 · Management $18,011$19,676
IX-25 Total functional expensesPrograms $93,235 · Management $287,595 · Fundraising $40,203$421,033
Part X · Balance sheet $5,756,252 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $247,790$374,478
X-9 Prepaid expenses and deferred charges$7,016
X-10c Land, buildings and equipment, netStart of year $1,224$734
X-11 Publicly traded securitiesStart of year $4,868,963$5,374,024
X-16 Total assetsStart of year $5,117,977$5,756,252
X-17 Accounts payable and accrued expensesStart of year $12,268$30,368
X-26 Total liabilitiesStart of year $12,268$30,368
X-27 Net assets without donor restrictionsStart of year $3,628,914$4,108,997
X-28 Net assets with donor restrictionsStart of year $1,476,795$1,616,887
X-32 Total net assets or fund balancesStart of year $5,105,709$5,725,884
X-33 Total liabilities and net assetsStart of year $5,117,977$5,756,252
Part XI · Reconciliation of net assets $5,725,884 net assets at year end
XI-1 Total revenue$867,394
XI-2 Total expenses$421,033
XI-3 Revenue less expenses$446,361
XI-4 Net assets at start of year$5,105,709
XI-5 Net unrealized gains (losses) on investments$173,814
XI-10 Net assets at end of year$5,725,884

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

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