philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Fine Arts Museums Foundation

Tax-deductible

San Francisco, CA501(c)(3)Since 1963Arts & CultureEIN 94-6096509Revenue $26.9M in FY2025

On file with the IRSfamsf.org50 Hagiwara Tea Garden Dr, 94118-4502 · San Francisco, CATax-exempt since Jul 1965Supporting organization — 509(a)(3)

This page gets seen. Tell your story. Claim this org.

The specific and primary purposes for which this Foundation is formed are the charitable and educational purposes of soliciting, receiving, disbursing and managing funds and property for the embellishment, advancement, administration and enlargement of the Fine Arts Museums of san francisco (famsf). These activities include purchasing works of art, holding those works of art, and lending or donating them to the Fine Arts Museums of san francisco.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
2 of 6
filings with a surplus
Average deficit $5.1M a year · 32% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $198K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.6M
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$26.9M
+44% vs prior year
Spent
$21.2M
To programs
91%
Net assets
$326.6M
By yearFY2020–FY2025
Revenue
$26.9M
FY2025▲ +44%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.5M
FY2021$10.8M
FY2022$17.2M
FY2023$22.0M
FY2024$18.7M
FY2025$26.9M
Expenses
$21.2M
FY2025▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$16.5M
FY2021$16.4M
FY2022$16.6M
FY2023$32.4M
FY2024$24.7M
FY2025$21.2M
Net assets
$326.6M
FY2025▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$293.3M
FY2021$325.8M
FY2022$288.6M
FY2023$295.8M
FY2024$307.9M
FY2025$326.6M

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

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1965.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $19.3M Management & general 9% · $1.9M

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

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Lorna F Meyer
President
$0Pt VII · Sec A
George Hecksher
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
David Soward
Treasurer, VP of Investmen
$0Pt VII · Sec A
$0Pt VII · Sec A
William Hearst III
VP of Collections
$0Pt VII · Sec A
$0Pt VII · Sec A
Leshelle May
Trustee (thru 12/24)
$0Pt VII · Sec A
See Fine Arts Museums Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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 fine arts museums by receiving, donating, and disbursing funds.

Questions for Fine Arts Museums Foundation

Tap to ask. Fine Arts Museums Foundation sees how many people are interested.

Your first name shows with your question. Fine Arts Museums Foundation answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

3 programs · $19.3M · in their own filed words · FY2024
01

Disbursement of funds for the embellishment, advancement, and administration of the corporation for the fine arts museums(cofam).

$7.8Mprogram expense
02

The fine arts museums foundation (famf) and cofam privately raised funds and rebuilt the deyoung museum, which was gifted to the city of san francisco upon its completion in 2005. These expenses include the amortization of the beneficial interest in the deyoung as well as the cost of servicing related bonds.

$5.9Mprogram expense
03

Art acquisitions for the fine arts museums.

$5.6Mprogram expense

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
Music Concourse Community PartnershipFY2025$198K
Total grants receivedfrom 1 funder$198K
Grants paid · 6 grants · $34.8M · 2019–2024
Corporation of the Fine Arts MuseumsCA · FY2024$7,798,649
Corporation of the Fine Arts MuseumsCA · FY2023$7,991,871
Corporation of the Fine Arts MuseumsCA · FY2022$5,977,500
Corporation of the Fine Arts MuseumsCA · FY2021$3,301,868
Corporation of the Fine Arts MuseumsCA · FY2020$3,093,037
Corporation of the Fine Arts MuseumsCA · FY2019$6,595,945

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$26.9M
Ln 12
Gifts and grantsLn 1h$14.2M
Investment incomeLn 3$12.7M
Other incomeLn 4–11$6K
Money outPt IX
$21.2M
Ln 25
Programscol B$19.3M
Managementcol C$1.9M
Owns and owesPt X
$326.6M
net assets · Ln 32
Cash and savingsLn 1–2$5.7M
Total assetsLn 16$329.1M
LiabilitiesLn 26$2.6M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14.2M
Investment incomeLn 3$12.7M
Other incomeLn 4–11$6K
Gains on assetsLn 7$6.3M
Total revenueLn 12$26.9M
Assets in detailPt X, end of year
CashLn 1$360K
SavingsLn 2$5.3M
Cash and savings togetherLn 1–2$5.7M
InvestmentsLn 11–13$218.5M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$90.4M
Total assetsLn 16$329.1M
LiabilitiesLn 26$2.6M
Net assetsLn 32$326.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderJune
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
LineStart FY25End FY25
Cash and savingsLn 1–2$5.7M$5.7M
InvestmentsLn 11–13$199.6M$218.5M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$309.2M$329.1M
LiabilitiesLn 26$1.3M$2.6M
Net assetsLn 32$307.9M$326.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7.8M$7.8M
Management feesLn 11a$250K$250K
Accounting feesLn 11c$87K$87K
Investment management feesLn 11f$1.4M$1.4M
Depreciation, depletion and amortizationLn 22$5.9M$5.9M
InsuranceLn 23$197K$197K
Other expenses (24a–d)Ln 24$5.6M$5.6M
Total functional expensesLn 25$21.2M$19.3M$1.9M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $26.9M$21.2M$5.7M$326.6M 990 PDF
FY2024 $18.7M$24.7M−$6.0M$307.9M 990 PDF
FY2023 $22.0M$32.4M−$10.4M$295.8M 990 PDF
FY2022 $17.2M$16.6M$535K$288.6M 990 PDF
FY2021 $10.8M$16.4M−$5.6M$325.8M 990 PDF
FY2020 $1.5M$16.5M−$15.0M$293.3M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 (6 parts)
Part I · Summary $26,865,830 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,966,133$14,158,324
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $6,674,422$12,701,915
I-11 Other revenuePrior year $13,197$5,591
I-12 Total revenuePrior year $18,653,752$26,865,830
I-13 Grants and similar amounts paidPrior year $7,991,871$7,798,649
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $16,686,332$13,399,060
I-18 Total expensesPrior year $24,678,203$21,197,709
I-19 Revenue less expensesPrior year −$6,024,451$5,668,121
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $26,865,830 across 7 lines filed
VIII-1d Related organizations$1,965,777
VIII-1f All other contributions, gifts and grants$12,192,547
VIII-1h Total contributions, gifts and grants$14,158,324
VIII-3 Investment incomeUnrelated business $27,312 · Excluded from tax $6,359,941$6,387,253
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,314,662$6,314,662
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $5,591$5,591
VIII-12 Total revenueRelated to mission $0 · Unrelated business $27,312 · Excluded from tax $12,680,194$26,865,830
Part IX · Statement of functional expenses $21,197,709 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $7,798,649$7,798,649
IX-11a Management feesManagement $250,000$250,000
IX-11c Accounting feesManagement $86,657$86,657
IX-11f Investment management feesManagement $1,350,022$1,350,022
IX-22 Depreciation, depletion and amortizationPrograms $5,891,969$5,891,969
IX-23 InsuranceManagement $196,967$196,967
IX-24 Other expenses (24a–d)Programs $5,623,445$5,623,445
IX-25 Total functional expensesPrograms $19,314,063 · Management $1,883,646 · Fundraising $0$21,197,709
Part X · Balance sheet $329,135,828 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $134,818$359,773
X-2 Savings and temporary cash investmentsStart of year $5,596,560$5,319,635
X-3 Pledges and grants receivableStart of year $2,425,000$4,788,365
X-4 Accounts receivableStart of year $4,326,895$9,791,300
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $189,444,999$206,999,432
X-12 Other securitiesStart of year $10,169,457$11,468,628
X-15 Other assetsStart of year $96,300,664$90,408,695
X-16 Total assetsStart of year $309,223,393$329,135,828
X-17 Accounts payable and accrued expensesStart of year $1,284,223$2,559,481
X-26 Total liabilitiesStart of year $1,284,223$2,559,481
X-27 Net assets without donor restrictionsStart of year $149,297,302$146,103,517
X-28 Net assets with donor restrictionsStart of year $158,641,868$180,472,830
X-32 Total net assets or fund balancesStart of year $307,939,170$326,576,347
X-33 Total liabilities and net assetsStart of year $309,223,393$329,135,828
Part XI · Reconciliation of net assets $326,576,347 net assets at year end
XI-1 Total revenue$26,865,830
XI-2 Total expenses$21,197,709
XI-3 Revenue less expenses$5,668,121
XI-4 Net assets at start of year$307,939,170
XI-5 Net unrealized gains (losses) on investments$12,996,368
XI-9 Other changes in net assets−$27,312
XI-10 Net assets at end of year$326,576,347

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.