Civic Intelligence

Hunterdon Art Museum

990 • Fiscal year 2015 • EIN 22-1550244

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 11, 2014

7 Lower Center StreetClinton, NJ 08809

(908) 735-8415

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.16x

Higher debt load relative to assets than 66% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

83rd percentile

0.54x

Higher debt load relative to revenue than 83% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

57th percentile

$69,952

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2015 filings • NTEE A • $1M-$5M nonprofits • Source year 2015

Asset Growth

13th percentile

-9.6%

Faster asset growth than 13% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

79th percentile

36%

Faster revenue growth than 79% of similar nonprofits.

2015 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$2,909,986

Down $310,226 (-9.6%) from 2014

Net Assets

Up

$2,444,915

Up $154,885 (+6.8%) from 2014

Liabilities

Down

$465,071

Down $465,111 (-50%) from 2014

Revenue

Up

$859,570

Up $228,667 (+36%) from 2014

Expenses

Up

$692,040

Up $66,922 (+11%) from 2014

Net Income

Up

$167,530

Up $161,745 (+2796%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,370,479Liabilities 2011: $680,254Net Assets 2011: $1,690,2252011Assets 2012: $2,377,160Liabilities 2012: $766,347Net Assets 2012: $1,610,8132012Assets 2013: $3,171,210Liabilities 2013: $942,010Net Assets 2013: $2,229,2002013Assets 2014: $3,220,212Liabilities 2014: $930,182Net Assets 2014: $2,290,0302014Assets 2015: $2,909,986Liabilities 2015: $465,071Net Assets 2015: $2,444,9152015Assets 2016: $2,929,624Liabilities 2016: $456,129Net Assets 2016: $2,473,4952016Assets 2017: $2,878,928Liabilities 2017: $465,114Net Assets 2017: $2,413,8142017Assets 2018: $2,786,661Liabilities 2018: $417,449Net Assets 2018: $2,369,2122018Assets 2019: $2,842,061Liabilities 2019: $412,089Net Assets 2019: $2,429,9722019Assets 2020: $2,879,636Liabilities 2020: $490,692Net Assets 2020: $2,388,9442020Assets 2021: $3,254,345Liabilities 2021: $665,292Net Assets 2021: $2,589,0532021Assets 2022: $3,160,963Liabilities 2022: $603,128Net Assets 2022: $2,557,8352022Assets 2023: $3,082,795Liabilities 2023: $618,642Net Assets 2023: $2,464,1532023Assets 2024: $3,283,616Liabilities 2024: $511,295Net Assets 2024: $2,772,3212024Assets 2025: $3,135,928Liabilities 2025: $510,493Net Assets 2025: $2,625,4352025

Highlighted filing

2015

Assets$2,909,986
Liabilities$465,071
Net Assets$2,444,915

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $521,177Expenses 2011: $582,249Net Income 2011: -$61,0722011Revenue 2012: $558,699Expenses 2012: $578,319Net Income 2012: -$19,6202012Expenses 2013: $589,1072013Revenue 2014: $630,903Expenses 2014: $625,118Net Income 2014: $5,7852014Revenue 2015: $859,570Expenses 2015: $692,040Net Income 2015: $167,5302015Revenue 2016: $733,806Expenses 2016: $707,859Net Income 2016: $25,9472016Revenue 2017: $634,088Expenses 2017: $696,772Net Income 2017: -$62,6842017Revenue 2018: $626,753Expenses 2018: $683,657Net Income 2018: -$56,9042018Revenue 2019: $733,519Expenses 2019: $703,195Net Income 2019: $30,3242019Revenue 2020: $633,464Expenses 2020: $645,659Net Income 2020: -$12,1952020Revenue 2021: $735,818Expenses 2021: $593,755Net Income 2021: $142,0632021Revenue 2022: $744,538Expenses 2022: $712,103Net Income 2022: $32,4352022Revenue 2023: $708,209Expenses 2023: $801,891Net Income 2023: -$93,6822023Revenue 2024: $1,114,742Expenses 2024: $862,844Net Income 2024: $251,8982024Revenue 2025: $643,767Expenses 2025: $863,413Net Income 2025: -$219,6462025

Highlighted filing

2015

Revenue$859,570
Expenses$692,040
Net Income$167,530
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 11, 2014
Return Version
2014v5.0
Gross Receipts
$891,217
Mission and Program Overview

Mission

For more than sixty years the Hunterdon Art Museum in Clinton, New Jersey has served as an invaluable cultural and educational resource for New Jersey and the surrounding areas and has carried out its mission to engage people with contemporary art, craft, and design in ways that educate, challenge and inspire. Hunterdon Countys only art museum is located in an 1836 gristmill that is on the State and National Historic Registers. The four-story building has three floors of exhibition space and one floor of art studios. The Museum presents approximately fifteen exhibitions annually and offers over 300 studio art courses, workshops, and art camps as well as programs for schools, the homeless, and adults with developmental disabilities. In the most recent year there were more than 28,000 visits to the Museums grounds, exhibitions, lectures, workshops, studio art classes, camps, interpretive programs and community events. Admission is a suggested donation and memberships are available.

The Hunterdon Art Museum engages people with contemporary art, craft, and design in ways that educate, challenge, and inspire. See Schedule O for further information.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,290,377$1,223,441▼ $66,936
Savings and Temporary Cash Investments$150,934$573,354▲ $422,420
Investments in Publicly Traded Securities$418,942$322,030▼ $96,912
Investments Other Securities$143,397$220,954▲ $77,557
Accounts Receivable$30,516$34,600▲ $4,084
Cash and Non-Interest-Bearing Accounts$74,291$24,533▼ $49,758
Pledges and Grants Receivable$15,128$15,128→ $0
Prepaid Expenses and Deferred Charges$11,777$11,096▼ $681
Inventories for Sale or Use$927$927→ $0
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$3,220,212$2,909,986▼ $310,226
Other Assets Total$1,083,923$483,923▼ $600,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$811,000$370,000▼ $441,000
Deferred Revenue$73,125$56,038▼ $17,087
Accounts Payable and Accrued Expenses$46,057$39,033▼ $7,024
Total Liabilities$930,182$465,071▼ $465,111
Net Assets / Fund Balance
Unrestricted Net Assets$1,145,010$1,546,485▲ $401,475
Permanently Rstr Net Assets$524,139$524,139→ $0
Temporarily Rstr Net Assets$620,881$374,291▼ $246,590
Total Net Assets Fund Balance$2,290,030$2,444,915▲ $154,885
Total Liabilities and Net Assets / Fund Balance$3,220,212$2,909,986▼ $310,226

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$541,606$973,228$1,514,834
Other Land Buildings$657,927$146,660$804,587
Equipment$3,908$90,515$94,423
Buildings-$75,550$75,550
Land$20,000-$20,000
Other Assets Org$254,923--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$562,339-▲ $18,243$26,938$542,984
2013$546,742-▲ $70,205$49,000$562,339
2012$552,065-▲ $38,313$37,500$546,742
2011$608,225-▲ $11,976$66,950$552,065
2010$511,974-▲ $96,251-$608,225
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Marjorie F NathansonExecutive DirectorFT$69,952$69,952

Board Members and Trustees

NameTitle
Jorge BlancoPresident
Elizabeth MattoVice President
Jocelyn Kapp ManshipVice President
Christopher ScalzoTrustee
Ed GagneTrustee
Ellen SiegelTrustee
Ingrid RenardTrustee
John LanzaTrustee
Nancy ZarbockTrustee
Pamela BeckerTrustee
Kathy MaddenCorp. Secretary
Cathy AhartRecording Sec'y
Jim McDevittTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$608,052
Program Service Revenue
$196,538
Investment Income
$31,971
Other Revenue
$23,009
All Other Contributions
$508,788
Change in Net Assets
$167,530

Audited Revenue Reconciliation

Revenue per Audited Statements
$859,570
Revenue Not Reported on Form 990
$-12,645
Total Revenue per Audited Statements
$846,925
Total Revenue per Form 990
$859,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$377,225
Other Expenses$314,815
Total Fundraising Expense$43,609
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$190,508$60,069$24,256$274,833
Current Officers, Directors, Trustees, and Key Employees$27,981$41,971-$69,952
Depreciation Depletion$63,589$4,400-$67,989
All Other Expenses$34,295$13,442-$47,737
Payroll Taxes$20,557$9,711$2,172$32,440
Occupancy$25,280$2,809-$28,089
Insurance$23,050$1,916-$24,966
Interest$19,999$2,222-$22,221
Other Expenses$10,623$4,088$1,612$16,323
Fees for Service Investment Mgmnt Fees-$10,660-$10,660
Fees for Services Accounting-$6,415-$6,415
Fees for Services Other-$4,895-$4,895
Total Functional Expenses$466,464$181,967$43,609$692,040

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$692,040
Total Expenses per Audited Statements$692,040
Total Expenses per Form 990$692,040
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$39,264
Fundraising Direct Expenses$31,647
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$35,210$19,485$9,717$9,768
Spring Event$19,241$18,741$6,956$11,785
Total Events$54,451$38,226$30,484$7,742
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The organization has retained an external accounting firm to prepare its Form 990 and has established the following review process to ensure that the information reported is complete and accurate. A draft of Form 990 is reviewed by the Finance Committee prior to the form being filed. Any questions or comments are addressed to the Executive Director. Once any questions on the draft Form 990 are resolved, the changes are made to the form. The final Form 990 is then provided to each member of the Board of Directors by email. Board members are encouraged to review and ask any questions about it by email or at the next Board meeting. After all review is complete, the final Form 990 is signed and filed with the Internal Revenue Service.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization's conflict of interest policy covers all officers, directors and key employees. Full disclosure of conflicts of interest includes actual and potential conflicts involving family members, affiliated entities and affiliated trusts. The conflict of interest statements are distributed to all covered persons upon the commencement of a person's relationship with the organization and thereafter on an annual basis.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The Executive Director determines compensation for all employees based upon the use of annual percentage increases and knowledge of regional wage trends for comparable personnel. The Executive Committee of the Board determines the compensation for the Executive Director based on the same considerations. The Board approves aggregate compensation during the annual budget process. The approval of the budget, including aggregate budgeted compensation, is documented in the minutes of the Board meeting.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The governing documents, conflict of interest policy and financial statements are always available to the public at the organization's office or by request.

Filing and Contact Details

Filer

Filer Name
Hunterdon Art Museum
EIN
22-1550244
Phone
9087358415
Address
7 Lower Center Street, Clinton, NJ 08809

Signing Officer

Name
Marjorie F Nathanson
Title
Executive Director
Signed
2014-11-11
Discuss with paid preparer
Yes

Organization Details

Formed
1952
Legal Domicile
Nj
Voting Board Members
13
Independent Board Members
13
Employees
50
Volunteers
60

Preparer

Firm
Gillen & Johnson PA
Address
182 W High St- PO Box 477, Somerville, NJ 08876
Preparer
David A Williams CPA
Phone
9087226400
Supplemental Narrative

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

The permanent collection of the Hunterdon Art Museum concentrates on works on paper. The growing collection emphasizes prints, but also includes drawings and paintings. Dating from the 1930s to the present, the collection consists of work by internationally recognized artists as well as artists from the region. Highlights include prints by Mark DiSuvero, Philip Guston, Alex Katz, and Ad Reinhardt. The Museum also holds in its collection the sculpture "New Direction" by Tom Otterness, which is installed on the Museums terrace and is accessible 24/7. The collection furthers the Museums exempt purpose of serving as a cultural and educational resource for New Jersey and the surrounding communities.

Part V, Line 4: Intended uses of the endowment fund.

The Museum has received grant funds from the New Jersey Cultural Trust (a part of the State of New Jersey Department of State) to establish a permanent endowment fund, the principal of which is to remain intact in perpetuity and which is invested and held for the exclusive use of the Museum, the income of which may be expended by the Museum for purposes consistent with its mission. As a condition of the grant from the New Jersey Cultural Trust, the Board of Trustees has permanently restricted $395,091 as the principal amount of the Board-designated permanently restricted endowment fund. This amount is part of a bequest which was originally received during the year ended June 30, 2002. The restriction is pursuant to a resolution of the Board which was adopted on January 13, 2005. The resolution is binding on all future Boards and may not be repealed or modified without the consent of the New Jersey Cultural Trust.In addition, the Museum received a bequest of $50,000 in 2003 which is permanently restricted by the donor. Income which is received from this amount may be expended only for maintenance, repairs and improvements of the Museum building.

Part X : FIN48 Footnote

The Museum evaluates all significant tax positions as required by the general standards of accounting for uncertainty in income taxes established by the Financial Accounting Standards Board. The Museum does not believe that it has taken any tax positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would increase or decrease within the next twelve months.The Museum files returns in the federal and New Jersey jurisdictions. The returns filed within the last four years are generally open for examination by those jurisdictions.

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IRS990/Form990PartVIISectionAGrp/PersonNm2Jim McDevitt
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IRS990/Form990PartVIISectionAGrp/PersonNm8Ingrid Renard
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IRS990/MissionDesc0For more than sixty years the Hunterdon Art Museum in Clinton, New Jersey has served as an invaluable cultural and educational resource for New Jersey and the surrounding areas and has carried out its mission to engage people with contemporary art, craft, and design in ways that educate, challenge and inspire. Hunterdon Countys only art museum is located in an 1836 gristmill that is on the State and National Historic Registers. The four-story building has three floors of exhibition space and one floor of art studios. The Museum presents approximately fifteen exhibitions annually and offers over 300 studio art courses, workshops, and art camps as well as programs for schools, the homeless, and adults with developmental disabilities. In the most recent year there were more than 28,000 visits to the Museums grounds, exhibitions, lectures, workshops, studio art classes, camps, interpretive programs and community events. Admission is a suggested donation and memberships are available.
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IRS990/ProgSrvcAccomActy2Grp/Desc0The Museums exhibitions have garnered a reputation for their high quality and interesting subject matter. From group shows that investigate trends in contemporary art to one-person exhibitions that explore personal journeys, the Museum brings extraordinary artwork to our region. Examples of recent exhibitions include "Contemporary International Tapestry," which brought together work by masters of that field from nine countries and received international attention and "Made to Capture," a contemporary photography exhibition focusing on artists who create environments. "The Three Graces" by Toshiko Takaezu, a long-term loan from the Takaezu Foundation, is installed in the outdoor garden that is open to the public throughout the year.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.14$0.51$2.63$0.64$0.86$0.22
2024Summary only. Only limited summary data is available for this year.$3.28$0.51$2.77$1.11$0.86$0.25
2023Summary only. Only limited summary data is available for this year.$3.08$0.62$2.46$0.71$0.80$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.16$0.60$2.56$0.74$0.71$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.25$0.67$2.59$0.74$0.59$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.88$0.49$2.39$0.63$0.65$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.84$0.41$2.43$0.73$0.70$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.79$0.42$2.37$0.63$0.68$0.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.88$0.47$2.41$0.63$0.70$0.06
2016Summary only. Only limited summary data is available for this year.$2.93$0.46$2.47$0.73$0.71$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.91$0.47$2.44$0.86$0.69$0.17
2014Summary only. Only limited summary data is available for this year.$3.22$0.93$2.29$0.63$0.63$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.17$0.94$2.23$0.59
2012Summary only. Only limited summary data is available for this year.$2.38$0.77$1.61$0.56$0.58$0.02
2011Summary only. Only limited summary data is available for this year.$2.37$0.68$1.69$0.52$0.58$0.06