Civic Intelligence

The Barnes Foundation

990 • Fiscal year 2024 • EIN 23-6000149

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 25, 2025

Refreshing map…

2025 Benjamin Franklin ParkwayPhiladelphia, PA 19130

(215) 278-7000

Siviq Scores

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

Liabilities / Assets

10th percentile

0.01x

Higher debt load relative to assets than 10% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

14th percentile

0.09x

Higher debt load relative to revenue than 14% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

9th percentile

-20%

Higher net margin than 9% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$600,736

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

36th percentile

3.3%

Faster asset growth than 36% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

149%

Faster revenue growth than 96% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$235,569,044

Up $9,629,371 (+4.3%) from 2022

Net Assets

Up

$233,246,639

Up $9,722,219 (+4.3%) from 2022

Liabilities

Down

$2,322,405

Down $92,848 (-3.8%) from 2022

Revenue

Down

$26,657,859

Down $9,432,244 (-26%) from 2022

Expenses

Up

$32,023,620

Up $936,537 (+3.0%) from 2022

Net Income

Down

-$5,365,761

Down $10,368,781 (-207%) from 2022

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $122,103,548Liabilities 2010: $13,024,486Net Assets 2010: $109,079,0622010Assets 2012: $210,496,936Liabilities 2012: $2,815,952Net Assets 2012: $207,680,9842012Assets 2014: $202,948,913Liabilities 2014: $2,495,025Net Assets 2014: $200,453,8882014Assets 2015: $199,487,419Liabilities 2015: $1,761,058Net Assets 2015: $197,726,3612015Assets 2017: $202,910,631Liabilities 2017: $2,585,742Net Assets 2017: $200,324,8892017Assets 2018: $204,717,439Liabilities 2018: $2,238,458Net Assets 2018: $202,478,9812018Assets 2019: $214,994,378Liabilities 2019: $2,815,717Net Assets 2019: $212,178,6612019Assets 2020: $223,515,679Liabilities 2020: $1,557,575Net Assets 2020: $221,958,1042020Assets 2021: $242,934,305Liabilities 2021: $4,203,017Net Assets 2021: $238,731,2882021Assets 2022: $225,939,673Liabilities 2022: $2,415,253Net Assets 2022: $223,524,4202022Assets 2024: $235,569,044Liabilities 2024: $2,322,405Net Assets 2024: $233,246,6392024

Highlighted filing

2024

Assets$235,569,044
Liabilities$2,322,405
Net Assets$233,246,639

Operations Trend

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

$40M$20M$0-$20MExpenses 2010: $8,799,5552010Expenses 2012: $22,044,8042012Revenue 2014: $18,196,208Expenses 2014: $23,239,272Net Income 2014: -$5,043,0642014Revenue 2015: $28,385,892Expenses 2015: $22,681,766Net Income 2015: $5,704,1262015Revenue 2017: $23,026,996Expenses 2017: $24,358,404Net Income 2017: -$1,331,4082017Revenue 2018: $36,523,478Expenses 2018: $25,163,947Net Income 2018: $11,359,5312018Revenue 2019: $24,564,152Expenses 2019: $24,726,049Net Income 2019: -$161,8972019Revenue 2020: $21,249,120Expenses 2020: $22,540,936Net Income 2020: -$1,291,8162020Revenue 2021: $34,787,671Expenses 2021: $25,607,601Net Income 2021: $9,180,0702021Revenue 2022: $36,090,103Expenses 2022: $31,087,083Net Income 2022: $5,003,0202022Revenue 2024: $26,657,859Expenses 2024: $32,023,620Net Income 2024: -$5,365,7612024

Highlighted filing

2024

Revenue$26,657,859
Expenses$32,023,620
Net Income-$5,365,761
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 25, 2025
Return Version
2023v6.0
Gross Receipts
$93,826,259
Mission and Program Overview

Mission

To promote the advancement of education and the appreciation of the fine arts and horticulture. To maintain an art gallery containing works of ancient to modern art.

Promote the advancement of education and the appreciation of the fine arts and horticulture.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$102,113,965$107,419,001▲ $5,305,036
Land, Buildings, and Equipment, Net$86,028,388$81,504,060▼ $4,524,328
Investments Other Securities$19,073,650$23,485,524▲ $4,411,874
Pledges and Grants Receivable$10,719,406$12,324,081▲ $1,604,675
Prepaid Expenses and Deferred Charges$1,633,973$2,605,742▲ $971,769
Inventories for Sale or Use$1,485,403$1,416,501▼ $68,902
Savings and Temporary Cash Investments$1,113,225$972,176▼ $141,049
Accounts Receivable$42,356$66,573▲ $24,217
Total Assets$228,076,186$235,569,044▲ $7,492,858
Other Assets Total$5,865,820$5,775,386▼ $90,434
Liabilities
Accounts Payable and Accrued Expenses$1,595,624$1,282,209▼ $313,415
Deferred Revenue$1,016,065$1,040,196▲ $24,131
Total Liabilities$2,611,689$2,322,405▼ $289,284
Net Assets / Fund Balance
Net Assets With Donor Restrictions$119,314,528$119,314,528→ $0
Net Assets Without Donor Restrictions$106,149,969$113,932,111▲ $7,782,142
Total Net Assets Fund Balance$225,464,497$233,246,639▲ $7,782,142
Total Liabilities and Net Assets / Fund Balance$228,076,186$235,569,044▲ $7,492,858

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$79,392,088$63,923,941$143,316,029
Other Land Buildings$981,800$4,086,175$5,067,975
Equipment$974,583$1,396,476$2,371,059
Land$155,589-$155,589
Other Securities$23,485,524--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$121,010,925$4,980,286▲ $14,636,814$9,903,754$130,724,271
2022$115,386,388$1,725,201▲ $8,559,336$4,660,000$121,010,925
2021$129,327,745$9,015,647▼ $16,178,004$6,779,000$115,386,388
2020$108,204,895$10,765,474▲ $15,531,100$5,171,724$129,327,745
2019$92,782,521$9,269,469▲ $10,841,454$4,688,549$108,204,895
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas CollinsExecutive Director & PresidentFT$515,836$84,900$600,736
Nina DiefenbachSr VP, Dep Director for AdvancementFT$342,728$32,590$375,318
Sara GeelanDep Dir, Gen Counsel, Asst. SecretaryFT$284,703$30,373$315,076
Sara GeelanDep Dir, Gen Counsel, Asst. Secretar-$284,703$30,373$315,076
William CaryChief Operating OfficerFT$275,830$9,803$285,633
Nancy Ireson PhdDep Director for Collections and ExhibitionsFT$234,169$18,799$252,968
Nancy Ireson PhdDep Director for Collections and Exhibiti-$234,169$18,799$252,968
Steven BradyDep Director for Digital Initiatives & CTOFT$214,428$36,209$250,637
Steven BradyDep Director for Digital Initiatives & Ct-$214,428$36,209$250,637
Margaret B Zminda Thru 1223Executive VP, CFO & COO, Asst TreasurerPT$224,358$19,413$243,771
Margaret B Zminda Thru 1223Executive VP, CFO & COO, Asst Treasu-$224,358$19,413$243,771
Sheronda WhitakerDep Director for Hr, Chief Diversity OfficerFT$226,755$7,726$234,481
Sheronda WhitakerDep Director for Hr, Chief Diversity Offi-$216,755$17,726$234,481
Maryanne MurphyCFO, Asst. Treasurer (beg 8/23)FT$88,866$5,658$94,524

Board Members and Trustees

NameTitle
Aileen Kennedy RobertsChair, Trustee
John R AlchinVice Chair, Trustee
The Hon Jacqueline F AllenSecretary, Trustee
David a FleischnerTreasurer (beg 1/24), Trustee
Stephen J Harmelin EsqTreasurer, Trustee (thru 12/23)
Armando I Bengochea PhdTrustee
Catherine HughesTrustee
Christine Poggi PhdTrustee
Gregory E DeavensTrustee
Jeffrey a HonickmanTrustee
John H Mcfadden EsqTrustee
John J AglialoroTrustee
Joseph NeubauerTrustee
Pamela BundyTrustee
Sheldon M Bonovitz EsqTrustee
Emily CavanaghTrustee (beg 1/24)

Highest Paid Contractors

ContractorServicesLocationCompensation
Masterpiece InternationalArt Transport39 BROADWAY SUITE 1410, New York, NY 10006$588,664
Coastal CloudSalesforce Implementation1 HAMMOCK BEACH PKW SUITE 200, Palm Coast, FL 32137$509,506
ConstellationCatering667 N BROAD ST, Philadelphia, PA 19123$497,279
Elliott-lewisBuilding Maintenance2900 BLACK LAKE PLACE, Philadelphia, PA 19154$495,131
Clean TechCleaning Services114 CHESTNUT ST 5TH FLOOR, Philadelphia, PA 19106$374,672
Revenue and Support

Revenue Composition

Contributions and Grants
$16,704,304
Program Service Revenue
$2,945,228
Investment Income
$4,724,901
Other Revenue
$2,283,426
All Other Contributions
$13,826,085
Change in Net Assets
$-5,365,761

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded8$253,242Selling Price
Books and Publications-$5,000-
Total Noncash Contributions8$258,242-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,955,595
Revenue Not Reported on Financial Statements
$702,264
Revenue Not Reported on Form 990
$13,176,635
Other Revenue Adjustments
$102,450
Total Revenue per Audited Statements
$39,132,230
Total Revenue per Form 990
$26,657,859
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$16,459,734
Other Expenses$15,272,603
Total Fundraising Expense$3,295,763
Grants and Similar Amounts Paid$291,283
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,737,638$2,926,768$1,710,012$12,374,418
Depreciation Depletion$5,532,358--$5,532,358
Occupancy$2,063,939$502,372-$2,566,311
Fees for Services Other$1,350,597$593,707$331,801$2,276,105
Other Employee Benefits$868,475$407,060$188,960$1,464,495
Current Officers, Directors, Trustees, and Key Employees-$1,358,850-$1,358,850
Payroll Taxes$599,438$232,040$135,357$966,835
Advertising$261,799$494,829$154,348$910,976
Fees for Service Investment Mgmnt Fees-$599,814-$599,814
Insurance$425,826$108,326-$534,152
Conferences and Meetings$113,320$98,495$312,076$523,891
Pension Plan Contributions$182,984$70,833$41,319$295,136
Office Expenses$211,964$41,194$25,834$278,992
Travel$176,766$24,721$10,917$212,404
Grants to Domestic Orgs$188,833--$188,833
Other Expenses$61,828$96,777$5,233$163,838
Grants to Domestic Individuals$102,450--$102,450
Fees for Services Legal-$67,037-$67,037
Information Technology$15,223$11,395-$26,618
Interest-$1,398-$1,398
Total Functional Expenses$20,904,488$7,823,369$3,295,763$32,023,620

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$33,937,439
Total Expenses per Form 990$32,023,620
Expenses per Audited Statements$31,321,356
Expenses Not Reported on Form 990$2,616,083
Expenses Not Reported on Financial Statements$702,264
Other Expense Adjustments$102,450
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Smith Memorial Playground & Playhouse IncPhiladelphia, PA501(c)(3)Informal Learning Initiative, Partner Stipend for Project, Summer Pods Cohort$53,000
The Academy of Natural Sciences of PhiladelphiaPhiladelphia, PA501(c)(3)Informal Learning Initiative, Ili Cohort, Summer Pods Cohort$52,906
The Clay StudioPhiladelphia, PA501(c)(3)Partner Stipend for Project, Summer Pods Cohort$33,000
Whyy IncPhiladelphia, PA501(c)(3)Informal Learning Initiative$20,000
Samuel S Fleisher Art Memorial IncPhiladelphia, PA501(c)(3)Summer Pods Cohort$15,000
Fund for the Fairmount Water WorksPhiladelphia, PA501(c)(3)Informal Learning Initiative$14,927
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$252,492
Fundraising Gross Income$51,939
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Art Ball$914,167$51,939$7,269$44,670
Total Events$914,167$51,939$252,492$-200,553
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by wipfli llp. The initial review is performed by the cfo. Form 990 is then sent to all board members for review, after a comment period, form 990 is submitted to the irs.

Form 990, Part VI, Section B, Line 12C

In addition to requiring each trustee, officer and key employee to make a disclosure of any possible personal, familial, or business relationship that could give rise to a conflict of interest or the appearance of a conflict of interest, the foundation's conflict of interest policy also requires the disclosure of any change of circumstance that would give rise to conflicts concerns. Moreover, the foundation has adopted a whistleblower policy designed to encourage prompt disclosure by trustees, officers and employees of any unlawful or improper behavior or transactions, including those that raise potential conflict of interest concerns. Each year all directors, officers, trustees and key employees are reminded of their obligations to comply with the conflict on interest policy at the organization's annual meeting and periodically at other times during the year. In addition, the barnes trained employees on ethics and the prevention of workplace harassment, and maintained a thirdparty reporting system to allow employees, contractors, and volunteers to anonymously report instances of harassment, safety violations, bias, or any other concern. To date, no reports have been made in this system.

Form 990, Part VI, Section B, Line 15

The barnes foundation performs a review of the compensation and benefits package (including fringe, retirement and severance benefits) for certain employees including the ceo annually and at time of hire. This review relies upon comparability data to determine whether the compensation arrangement in its entirety is reasonable. For this purpose, appropropriate and relevant information includes compensation paid by similarly situated taxexempt and taxable organizations for functionally comparable positions. This review also takes into account the size, revenue, geographic location, structure and complexity of the organization.

Form 990, Part VI, Section C, Line 19

The barnes foundation's bylaws, charter, financial statements and certain other governing documents (e.g., conflict of interest policy), are available for review upon request for the same period of disclosure as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
The Barnes Foundation
EIN
23-6000149
Phone
2152787000
Address
2025 BENJAMIN FRANKLIN PARKWAY, PHILADELPHIA, PA 19130

Signing Officer

Name
Maryanne Murphy
Title
Chief Financial Officer
Phone
2152787000
Signed
2025-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Collins
Formed
1922
Legal Domicile
Pa
Voting Board Members
15
Independent Board Members
15
Employees
279
Volunteers
92

Preparer

Firm
Wipfli Llp
Address
170 N RADNOR-CHESTER RD SUITE 200, RADNOR, PA 19087
Preparer
Solomon Mardakhaev
Phone
6105653930
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Restatement of prior year contributions receivable 2,587,351.

Financial Statement Notes

PART III, LINE 1A:

The foundation owns a collection of paintings, sculptures, antiques and other objects of art. The foundation has capitalized collection items purchased directly by the foundation at cost, and those contributed other than by its founder at the fair market value on the date of the gift. Substantially all of the collection objects were donated to the foundation by its founder and are recorded at a $1 nominal value, in accordance with a resolution of the board of trustees at the time of the gift. The foundation has determined that it is not practical to establish a fair value of the founder's original contribution as of the date of the gift because records relating to the fair value at the date of contribution are unreliable or do not exist.

PART III, LINE 4:

The barnes art collection is comprised of over 8,000 works of fine and decorative arts, including paintings, frames, works on papers, furniture and decorative metalwork. The collection displayed in the galleries are available for visitation by the public and are also used to conduct educational ativities to teach the principles of art appreciation established by its founder.

PART V, LINE 4:

The income from the foundation's permenantly restricted endowment fund is intended to support the foundation's program of collection care, scholarly activities, education and unrestricted operating costs.

PART X, LINE 2:

The organization has been granted tax-exempt status as a nonprofit organization under section 501(c)(3) of the internal revenue code which is not a private foundation under section 509(a) of the code, and files form 990 for both the barnes and cp 2023 dba calder gardens (return of organization exempt from income tax) annually for information purposes. Accordingly, no provision for income taxes is provided in the accompanying financial statements. The organization has reviewed its tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on federal tax returns for the last three years filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING 252,492.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

SCHOLARSHIPS 102,450.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING 252,492.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

SCHOLARSHIPS 102,450.

Raw XML AppendixShowing 400 of 1,045 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0VISITOR EXPERIENCE - THE BARNES FOUNDATION PRESENTS A DYNAMIC PROGRAM OF PERMANENT AND TEMPORARY EXHIBITS WITH SPECIAL EXHIBITIONS EXPANDING UPON THE PERMANENT COLLECTION AND CREATING FRESH OPPORTUNITIES FOR VISITOR ENGAGEMENT. FY24 FEATURED THE EXHIBITIONS WILLIAM EDMONDSON: A MONUMENTAL VISION, MARIE LAURENCIN: SAPPHIC PARIS AND ALEXY BRODOVITH: ASTONISH ME, THROUGH MY I: ART FROM SCI: PHOENIX, AND EDUCATION & EMPOWERMENT: SCHOLARSHIP RECIPIENTS AT THE BARNES FOUNDATION, 1927-1949.
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