Civic Intelligence

Figge Art Museum

990 • Fiscal year 2019 • EIN 42-6090398

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 14, 2020

225 West 2nd StreetDavenport, IA 52801-1804

(563) 326-7804

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.05x

Higher debt load relative to assets than 33% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

41st percentile

0.11x

Higher debt load relative to revenue than 41% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

53rd percentile

3.9%

Higher net margin than 53% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

73rd percentile

$184,811

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

46th percentile

2.1%

Faster asset growth than 46% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

27th percentile

-5.3%

Faster revenue growth than 27% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$7,508,408

Up $154,725 (+2.1%) from 2018

Net Assets

Up

$7,147,485

Up $168,975 (+2.4%) from 2018

Liabilities

Down

$360,923

Down $14,250 (-3.8%) from 2018

Revenue

Down

$3,229,266

Down $179,585 (-5.3%) from 2018

Expenses

Down

$3,104,528

Down $43,936 (-1.4%) from 2018

Net Income

Down

$124,738

Down $135,649 (-52%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $11,866,349Liabilities 2010: $5,349,657Net Assets 2010: $6,516,6922010Assets 2011: $11,834,156Liabilities 2011: $5,024,827Net Assets 2011: $6,809,3292011Assets 2012: $10,942,887Liabilities 2012: $4,305,317Net Assets 2012: $6,637,5702012Assets 2013: $10,391,011Liabilities 2013: $3,633,494Net Assets 2013: $6,757,5172013Assets 2014: $10,525,446Liabilities 2014: $3,206,358Net Assets 2014: $7,319,0882014Assets 2015: $9,615,211Liabilities 2015: $2,916,735Net Assets 2015: $6,698,4762015Assets 2016: $9,282,216Liabilities 2016: $3,238,839Net Assets 2016: $6,043,3772016Assets 2017: $9,403,430Liabilities 2017: $2,669,336Net Assets 2017: $6,734,0942017Assets 2018: $7,353,683Liabilities 2018: $375,173Net Assets 2018: $6,978,5102018Assets 2019: $7,508,408Liabilities 2019: $360,923Net Assets 2019: $7,147,4852019Assets 2020: $8,061,931Liabilities 2020: $607,624Net Assets 2020: $7,454,3072020Assets 2021: $10,043,110Liabilities 2021: $706,220Net Assets 2021: $9,336,8902021Assets 2022: $9,720,453Liabilities 2022: $818,198Net Assets 2022: $8,902,2552022Assets 2023: $12,485,866Liabilities 2023: $380,770Net Assets 2023: $12,105,0962023Assets 2024: $14,051,175Liabilities 2024: $405,316Net Assets 2024: $13,645,8592024

Highlighted filing

2019

Assets$7,508,408
Liabilities$360,923
Net Assets$7,147,485

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,404,0972010Expenses 2011: $2,278,0062011Expenses 2012: $2,216,2902012Revenue 2013: $2,135,714Expenses 2013: $2,335,090Net Income 2013: -$199,3762013Revenue 2014: $2,847,398Expenses 2014: $2,657,127Net Income 2014: $190,2712014Revenue 2015: $2,403,148Expenses 2015: $2,974,957Net Income 2015: -$571,8092015Revenue 2016: $2,544,994Expenses 2016: $3,137,048Net Income 2016: -$592,0542016Revenue 2017: $3,555,828Expenses 2017: $2,865,093Net Income 2017: $690,7352017Revenue 2018: $3,408,851Expenses 2018: $3,148,464Net Income 2018: $260,3872018Revenue 2019: $3,229,266Expenses 2019: $3,104,528Net Income 2019: $124,7382019Revenue 2020: $3,020,890Expenses 2020: $2,577,576Net Income 2020: $443,3142020Revenue 2021: $3,376,823Expenses 2021: $2,987,557Net Income 2021: $389,2662021Revenue 2022: $3,771,273Expenses 2022: $3,013,024Net Income 2022: $758,2492022Revenue 2023: $6,473,157Expenses 2023: $3,691,002Net Income 2023: $2,782,1552023Revenue 2024: $4,843,843Expenses 2024: $3,875,286Net Income 2024: $968,5572024

Highlighted filing

2019

Revenue$3,229,266
Expenses$3,104,528
Net Income$124,738
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 14, 2020
Return Version
2018v3.2
Gross Receipts
$4,658,361
Mission and Program Overview

Mission

The figge art museum actively serves the public by promoting appreciation and creation of visual art through education and by collecting, conserving, and exhibiting art. As a vital, responsive institution, the museum brings art and people together, we enrich our community with the experience of art through education, collections, exhibitions and preservation. We endeavor to transform our community through the power of art.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,380,657$5,852,280▲ $471,623
Savings and Temporary Cash Investments$888,768$843,067▼ $45,701
Land, Buildings, and Equipment, Net$382,475$356,187▼ $26,288
Prepaid Expenses and Deferred Charges$291,859$191,726▼ $100,133
Pledges and Grants Receivable$195,710$150,315▼ $45,395
Accounts Receivable$148,705$63,386▼ $85,319
Inventories for Sale or Use$64,344$50,282▼ $14,062
Cash and Non-Interest-Bearing Accounts$1,165$1,165→ $0
Total Assets$7,353,683$7,508,408▲ $154,725
Liabilities
Accounts Payable and Accrued Expenses$299,672$338,511▲ $38,839
Deferred Revenue$75,501$22,412▼ $53,089
Total Liabilities$375,173$360,923▼ $14,250
Net Assets / Fund Balance
Permanently Rstr Net Assets$4,245,647$4,443,150▲ $197,503
Unrestricted Net Assets$1,759,472$1,891,391▲ $131,919
Temporarily Rstr Net Assets$973,391$812,944▼ $160,447
Total Net Assets Fund Balance$6,978,510$7,147,485▲ $168,975
Total Liabilities and Net Assets / Fund Balance$7,353,683$7,508,408▲ $154,725

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$292,268$1,383,544$1,675,812
Leasehold Improvements$63,919-$63,919

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$4,280,042$222,055▲ $448-$4,502,545
2017$3,837,933$441,435▲ $674-$4,280,042
2016$3,064,496$772,533▲ $904-$3,837,933
2015$2,976,078$90,595▼ $177-$3,064,496
2014$2,919,471$56,480▲ $127-$2,976,078
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy J SchifferExecutive DiFT$160,020$24,791$184,811
Timothy J SchifferExecutive Director-$160,020$24,791$184,811
Raelene PullenDirector ofFT$137,430$2,028$139,458
Todd WoeberCFOFT$106,053$1,848$107,901

Board Members and Trustees

NameTitle
Cindy CarlsonPresident
Aleeza SinghDirector
Debby StaffordDirector
Delia MeierDirector
Denise GarrettDirector
JOE D'SOUZADirector
Jerry JonesDirector
Kay HallDirector
Mark SchwiebertDirector
Nancy DanicoDirector
Richard LynnDirector
Samuel SkorepaDirector
Susan QuailDirector
Tom TerronezDirector
William LangleyDirector
Wynne SchaferDirector
Dee BruemmerPast Preside
Don DoucetteSecretary
J Hunt HarrisTreasurer
Ken KoupalVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,747,125
Program Service Revenue
$959,665
Investment Income
$274,517
Other Revenue
$247,959
All Other Contributions
$1,522,687
Change in Net Assets
$124,738

Noncash Contribution Practices

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

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,229,266
Revenue Not Reported on Form 990
$1,138,719
Total Revenue per Audited Statements
$4,367,985
Total Revenue per Form 990
$3,229,266
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,811,977
Salaries, Compensation, and Employee Benefits$1,292,551
Total Fundraising Expense$310,882
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$636,564$5,060$78,567$720,191
Occupancy$531,623$17,424$11,077$560,124
Current Officers, Directors, Trustees, and Key Employees$87,212$194,879$74,809$356,900
Office Expenses$297,117$3,117$38,747$338,981
Fees for Services Other$218,103$65,519-$283,622
Other Employee Benefits$114,302$51,818$34,029$200,149
Depreciation Depletion$87,407$22,514$2,818$112,739
Advertising$75,470-$7,492$82,962
Insurance$25,819$52,837-$78,656
Conferences and Meetings$53,396--$53,396
Other Expenses$599$3,849$28,683$33,131
Fees for Service Investment Mgmnt Fees-$32,211-$32,211
Travel$22,033$3,449$1,125$26,607
Fees for Services Accounting$519$17,795-$18,314
All Other Expenses$2,844$9,108$6,098$18,050
Payroll Taxes$8,744$3,964$2,603$15,311
Total Functional Expenses$2,304,786$488,860$310,882$3,104,528

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,199,010
Expenses per Audited Statements$3,104,528
Total Expenses per Form 990$3,104,528
Expenses Not Reported on Form 990$1,094,482
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$87,707
Fundraising Direct Expenses$24,342
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$107,945$43,225$8,266$34,959
Art Off the Wal$28,302$24,302$1,901$22,401
Total Events$156,427$87,707$24,342$63,365
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Nancy DanicoBoard MemberMaintanence & RepairNo$5,587
Tom TerronezBoard MemberWebsite Dev & SupporNo$3,815
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, Page 6, Part VI, Line 11B

The governance committee of the board is provided a copy of the return for review and approval before it is filed. Each board member is also provided a full copy of the 990 before filing.

Form 990, Page 6, Part VI, Line 12C

The organization monitors and enforces compliance with the conflict of interest policy through annual certifications by employees, officers, and directors.

Form 990, Page 6, Part VI, Line 15A

The executive director's compensation is annually reviewed by the executive committee of the board using surveys of compensation levels at comparable organizations. The executive director's compensation is also approved by the entire board.

Form 990, Page 6, Part VI, Line 15B

The compensation of all employees other than the executive director is annually reviewed by the executive director by comparing to compensation surveys specific to the museum industry. When hiring new employees, the executive director uses surveys of compensation levels at comparable organizations.

Form 990, Page 6, Part VI, Line 19

Governing documents disclosure explanation: the organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Additionally, annual financial statements are posted on the art museum's website as part of an annual report.

Filing and Contact Details

Filer

Filer Name
Figge Art Museum
EIN
42-6090398
Phone
5633267804
Address
225 WEST 2ND STREET, DAVENPORT, IA 52801-1804

Signing Officer

Name
Todd Woeber
Title
CFO
Phone
5633267804
Signed
2020-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle Hargrave
Formed
1925
Legal Domicile
Ia
Voting Board Members
20
Independent Board Members
20
Employees
58
Volunteers
90

Preparer

Firm
Anderson Lower Whitlow Pc
Address
1805 STATE ST STE 201, BETTENDORF, IA 52722
Preparer
Barry L Anderson
Phone
5633594757
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The figge art museum actively serves the public by promoting appreciation and creation of visual art through education and by collecting, conserving, and exhibiting art. As a vital, responsive institution, the museum brings art and people together, we enrich our community with the experience of art through education, collections, exhibitions and preservation. We endeavor to transform our community through the power of art.

Form 990, Page 2, Part III, Line 4A

Exhibition & collections: the figge's 2018-2019 exhibition highlights included "french moderns: monet to matisse, 1850-1950. A collection of 60 priceless masterworks by some of the world's most treasured artists- monet, cezanne, renoir, degas, and others- to tell the story of the rise of impressionis and modern art. It featured work by all the leading impressionists and their collegues who aligned themselves with the movement. In addition to paintings, iconic sculptural works were also featured. "french moderns" offered figge visitors a walk through one of the most exciting centuries in the history of art. "william l. Hawkins: an imaginative geography" was a major retrospective of the artist's work and the first nationally touring show organized by the figge art museum. Drawn from important public and private collections across the united states and europe, the exhibition included 54 of hawkin's most important paintings, some well-known and others rarely seen. "louis comfort tiffany: treasures from the driehaus collection" was an exhibition drawn from the collection of the richard h. Driehaus museum in chicago and featured 62 exemplary works created by tiffany's studios. From small blown glass vases to breathtaking stained glass windows and a spectacular selection of lamps, the exhibition demonstrated the craftsmanship and inventiveness of tiffany artisans.

Form 990, Part XI, Line 9

Special events expenses netted with revenues on return 24,342 rental expenses 13,093 special events expenses netted with revenues on return -24,342 rental expenses -13,093

Financial Statement Notes

Schedule D, Page 2, Part III, Line 4

All works of art and library collections are held for public exhibition, education, or research; are protected, kept unencumbered, cared for, preserved, and are subject to strict organizational policies governing their use. The value of the art museum's permanent collection is not subject to reasonable estimation. The organization's collection is not essential in performing its function as a museum.

Schedule D, Page 2, Part V, Line 4

Income from the permanent endowment is used to fund the art museum's purchase of art objects or for other purposes as set forth by the board.

Schedule D, Page 3, Part X

The art museum has received notification that it qualifies as a tax-exempt organization under section 501(c)(3) of the u.s. Internal revenue code and the corresponding provisions of iowa law and, accordingly, is not subject to federal or state income taxes. The art museum evaluates the tax benefits of a tax position using the "more likely than not" threshold. As of june 30, 2019, management is not aware of any uncertain tax positions and related tax benefits which would be material to the art museum's financial statements. The art museum files a u.s. Federal informational return which for fiscal year subsequent to 2015 are subject to examination by taxing authorities.

Schedule D, Page 4, Part XI, Line 2D

Special events expenses netted with revenues on return 24,342 rental expenses 13,093

Schedule D, Page 4, Part XII, Line 2D

Special events expenses netted with revenues on return 24,342 rental expenses 13,093

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt21CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF
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IRS990/MissionDesc0THE FIGGE ART MUSEUM ACTIVELY SERVES THE PUBLIC BY PROMOTING APPRECIATION AND CREATION OF VISUAL ART THROUGH EDUCATION AND BY COLLECTING, CONSERVING, AND EXHIBITING ART. AS A VITAL, RESPONSIVE INSTITUTION, THE MUSEUM BRINGS ART AND PEOPLE TOGETHER, WE ENRICH OUR COMMUNITY WITH THE EXPERIENCE OF ART THROUGH EDUCATION, COLLECTIONS, EXHIBITIONS AND PRESERVATION. WE ENDEAVOR TO TRANSFORM OUR COMMUNITY THROUGH THE POWER OF ART.
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IRS990/ProgramServiceRevenueGrp/BusinessCd2533110
IRS990/ProgramServiceRevenueGrp/Desc0ANNUAL SUPPORT - CITY OF DAV
IRS990/ProgramServiceRevenueGrp/Desc1TRAVELING EXHIBTION FEES
IRS990/ProgramServiceRevenueGrp/Desc2ADMISSIONS
IRS990/ProgramServiceRevenueGrp/Desc3TOUR AND CLASS FEES
IRS990/ProgramServiceRevenueGrp/Desc4ROYALTIES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt344910
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt417562
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.1$0.41$13.6$4.84$3.88$0.97
2023Detailed filing. Detailed filing data is available for this year.$12.5$0.38$12.1$6.47$3.69$2.78
2022Detailed filing. Detailed filing data is available for this year.$9.72$0.82$8.90$3.77$3.01$0.76
2021Detailed filing. Detailed filing data is available for this year.$10.0$0.71$9.34$3.38$2.99$0.39
2020Detailed filing. Detailed filing data is available for this year.$8.06$0.61$7.45$3.02$2.58$0.44
2019Detailed filing. Detailed filing data is available for this year.$7.51$0.36$7.15$3.23$3.10$0.12
2018Detailed filing. Detailed filing data is available for this year.$7.35$0.38$6.98$3.41$3.15$0.26
2017Detailed filing. Detailed filing data is available for this year.$9.40$2.67$6.73$3.56$2.87$0.69
2016Detailed filing. Detailed filing data is available for this year.$9.28$3.24$6.04$2.54$3.14$0.59
2015Detailed filing. Detailed filing data is available for this year.$9.62$2.92$6.70$2.40$2.97$0.57
2014Detailed filing. Detailed filing data is available for this year.$10.5$3.21$7.32$2.85$2.66$0.19
2013Summary only. Only limited summary data is available for this year.$10.4$3.63$6.76$2.14$2.34$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$4.31$6.64$2.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$5.02$6.81$2.28
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$5.35$6.52$2.40