Civic Intelligence

Graham Gund Gallery

990 • Fiscal year 2017 • EIN 46-3140140

Jul 01, 2016 to Jun 30, 2017 • Filed on May 11, 2018

Eaton CenterGambier, OH 43022

(740) 427-5181

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

8th percentile

0.00x

Higher debt load relative to revenue than 8% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

44th percentile

1.3%

Higher net margin than 44% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

96th percentile

$696,261

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 45.9% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

40th percentile

1.1%

Faster asset growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

2nd percentile

-69%

Faster revenue growth than 2% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Flat

$5,101,470

Flat from 2017

Net Assets

Flat

$5,099,356

Flat from 2017

Liabilities

Flat

$2,114

Flat from 2017

Revenue

Flat

$1,516,894

Flat from 2017

Expenses

Flat

$1,496,553

Flat from 2017

Net Income

Flat

$20,341

Flat from 2017

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2013: $287,432Liabilities 2013: $0Net Assets 2013: $287,4322013Assets 2014: $310,912Liabilities 2014: $1,851Net Assets 2014: $309,0612014Assets 2015: $1,074,116Liabilities 2015: $3,526Net Assets 2015: $1,070,5902015Assets 2016: $5,043,833Liabilities 2016: $0Net Assets 2016: $5,043,8332016Assets 2017: $5,101,470Liabilities 2017: $2,114Net Assets 2017: $5,099,3562017Assets 2017: $5,101,470Liabilities 2017: $2,114Net Assets 2017: $5,099,3562017Assets 2018: $5,340,787Liabilities 2018: $18,138Net Assets 2018: $5,322,6492018Assets 2019: $5,330,243Liabilities 2019: $154,794Net Assets 2019: $5,175,4492019Assets 2020: $5,389,874Liabilities 2020: $157,253Net Assets 2020: $5,232,6212020Assets 2021: $8,250,705Liabilities 2021: $697,366Net Assets 2021: $7,553,3392021Assets 2022: $7,862,983Liabilities 2022: $1,584Net Assets 2022: $7,861,3992022Assets 2023: $8,636,121Liabilities 2023: $14,123Net Assets 2023: $8,621,9982023

Highlighted filing

2017

Assets$5,101,470
Liabilities$2,114
Net Assets$5,099,356

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 2013: $599,9892013Revenue 2014: $770,808Expenses 2014: $737,023Net Income 2014: $33,7852014Revenue 2015: $1,477,401Expenses 2015: $721,761Net Income 2015: $755,6402015Revenue 2016: $4,895,193Expenses 2016: $833,642Net Income 2016: $4,061,5512016Revenue 2017: $1,516,894Expenses 2017: $1,496,553Net Income 2017: $20,3412017Revenue 2017: $1,516,894Expenses 2017: $1,496,553Net Income 2017: $20,3412017Revenue 2018: $2,005,170Expenses 2018: $1,843,364Net Income 2018: $161,8062018Revenue 2019: $3,811,992Expenses 2019: $3,981,403Net Income 2019: -$169,4112019Revenue 2020: $6,475,164Expenses 2020: $6,428,345Net Income 2020: $46,8192020Revenue 2021: $4,357,194Expenses 2021: $2,847,295Net Income 2021: $1,509,8992021Revenue 2022: $4,896,550Expenses 2022: $3,951,768Net Income 2022: $944,7822022Revenue 2023: $1,693,304Expenses 2023: $1,276,863Net Income 2023: $416,4412023

Highlighted filing

2017

Revenue$1,516,894
Expenses$1,496,553
Net Income$20,341
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 11, 2018
Return Version
2016v3.0
Gross Receipts
$1,516,894
Mission and Program Overview

Mission

The gallery's vision is to be an innovative producer of challenging new knowledge about the visual. Its programs, exhibitions, and projects will:- embody liberal education by exercising critical and creative thinking applied to inter-disciplinary investigation of the visual; - relate the historical to the contemporary by linking today's issues, ideas, and innovations with earlier historical moments; - connect the global to kenyon college (and kenyon college to the global) through valuing diversity and cultural awareness; - promote an inclusive definition of art that engages a wide range of visual cultures and visualities; - create participatory multisensory experiences; and - engage the highest quality works of art through active collecting initiatives.

To be an innovative producer of challenging new knowledge about the visual.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$3,936,821$3,924,735▼ $12,086
Investments in Publicly Traded Securities$922,616$1,126,339▲ $203,723
Cash and Non-Interest-Bearing Accounts$184,396$50,396▼ $134,000
Total Assets$5,043,833$5,101,470▲ $57,637
Liabilities
Accounts Payable and Accrued Expenses$0$2,114▲ $2,114
Total Liabilities$0$2,114▲ $2,114
Net Assets / Fund Balance
Permanently Rstr Net Assets$4,828,300$5,005,219▲ $176,919
Temporarily Rstr Net Assets$210,988$102,338▼ $108,650
Unrestricted Net Assets$4,545$-8,201▼ $12,746
Total Net Assets Fund Balance$5,043,833$5,099,356▲ $55,523
Total Liabilities and Net Assets / Fund Balance$5,043,833$5,101,470▲ $57,637

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$940,715$152,675▲ $99,136$62,608$1,129,918
2015$926,029$75,000▼ $15,906$44,408$940,715
2014$292,182$638,040▲ $23,992$28,185$926,029
2013$232,397$60,336▲ $10,028$10,579$292,182
2012-$229,700▲ $5,191$2,494$232,397
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marsh NatalieExecutive Director/President of Gund Gallery 501c3FT$106,126$21,680$127,806

Board Members and Trustees

NameTitle
Rosenthal MarkChair
Denniston III BrackettEx Officio Trustee/Chair, Kenyon
Decatur SeanEx Officio Trustee/College President
Alper CarolynTrustee
Goldberger PaulTrustee
Greenberg AlvaTrustee
Gund GrahamTrustee
Hoehn-Saric PamelaTrustee
Horvitz DavidTrustee
Kaufman GeneTrustee
Levinson BonnieTrustee
Meister Jr GilbertTrustee
Pizzuti RonaldTrustee
Whealon TimothyTrustee
Resnick Lisa BetsonSecretary
Healy PaulTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,419,776
Program Service Revenue
$30,257
Investment Income
$66,861
Other Revenue
$0
All Other Contributions
$647,123
Change in Net Assets
$20,341
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$906,668
Salaries, Compensation, and Employee Benefits$589,885
Total Fundraising Expense$20,606
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$355,373--$355,373
Current Officers, Directors, Trustees, and Key Employees$90,426$19,377$19,377$129,180
Fees for Services Other$94,352--$94,352
Travel$75,223$7,020-$82,243
Other Employee Benefits$49,673--$49,673
Payroll Taxes$29,209$1,229$1,229$31,667
Other Expenses$27,937--$27,937
Pension Plan Contributions$23,992--$23,992
Office Expenses$23,329--$23,329
All Other Expenses$21,745--$21,745
Information Technology$14,568--$14,568
Fees for Services Accounting$1,250--$1,250
Fees for Services Legal$298--$298
Total Functional Expenses$1,448,321$27,626$20,606$1,496,553
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
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
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

Members of the organization - the sole member of the graham gund gallery is kenyon college.

Form 990, Part VI, Section A, line 7A

Member's power to elect trustees - as the sole member, kenyon college has the power to appoint all of the board members of the graham gund gallery.

Form 990, Part VI, Section A, line 7B

Approval of decisions of governing body - as the sole member, kenyon college has approval rights over the decisions of the board of trustees of the graham gund gallery.

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

Form 990 review - form 990 is reviewed by the controller of kenyon college and certain board members of the graham gund gallery.

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

Form 990 provided to governing body - the organization has distributed form 990 to the full board of trustees with the exception of donor information on schedule b. Because of schedule b's private and confidential nature, the board has delegated the authority and responsibility for reviewing that schedule to the chair of the board and the chair of the audit subcommittee of kenyon college, the sole member of the graham gund gallery. As such, we are required to answer "no" to the question on line 11a even though a copy of form 990 (with redacted donor information on schedule b) was provided to the trustees.

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

Monitoring and enforcement of conflict policy - the organization's conflict policy is distributed at the fall meeting of the board of trustees. Annually, officers and trustees are asked to disclose conflicts, and these disclosures are monitored. If a conflict arises, the person is not permitted to vote or participate in the discussion of the proposed transaction. People who are independent of the individual make the decision on the transaction.

Form 990, Part VI, Section B, line 15

Compensation review and approval - there is no standing board committee for compensation for the officers and other employees of the graham gund gallery. The gallery mirrors the standard percentage cost of living increases from kenyon college, the sole member of the graham gund gallery. The board of the graham gund gallery approves any adjustment to base salaries above this standard percentage in a given year during an executive session of a board meeting.

Form 990, Part VI, Section C, line 19

Availability of documents - the organization does not make its financial statements, governing documents, or conflict policy available to the public.

Filing and Contact Details

Filer

Filer Name
Graham Gund Gallery
EIN
46-3140140
Phone
7404275181
Address
EATON CENTER, GAMBIER, OH 43022

Signing Officer

Name
Sean Decatur
Title
Trustee
Phone
7404275181
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Natalie Marsh
Formed
2012
Legal Domicile
Oh
Voting Board Members
16
Independent Board Members
15
Employees
0
Volunteers
0

Preparer

Firm
Maloney Novotny LLC
Address
1111 Superior Ave Suite 700, Cleveland, OH 44114-2540
Preparer
Christopher B Anderson
Phone
2163630100
Supplemental Narrative

Financial Statement Notes

Part III, Line 1A:

FINANCIAL STATEMENT FOOTNOTE REGARDING ART COLLECTION - THE FOLLOWING FOOTNOTE IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS: COLLECTIONS AND WORKS OF ART - COLLECTIONS ARE NOT CAPITALIZED UNDER THE PROVISIONS OF ASC 958-605, REVENUE RECOGNITION - CONTRIBUTIONS RECEIVED. ALL WORKS OF ART AND COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH; ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR AND PRESERVED; AND ARE SUBJECT TO POLICIES GOVERNING THEIR USE. PRIOR TO ASC 958-605 ADOPTION, THE COLLEGE (KENYON COLLEGE, A RELATED SECTION 501(c)(3) EDUCATIONAL INSTITUTION AND SOLE MEMBER OF THE GALLERY) DID CAPITALIZE WORKS OF ART AND COLLECTIONS. AT JUNE 30, 2017 AND 2016, THE NET BOOK VALUE OF THESE ITEMS IS $1,862,696 AND IS REFLECTED IN THE EQUIPMENT SECTION OF THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION.

Part III, Line 4:

Description of art collection - the gund gallery prioritizes modern and contemporary art for its gallery collection, which is separate from kenyon college's art collection. A collection focus on modern and contemporary art presents an opportunity for the gund gallery to assist kenyon college in uniquely positioning itself as a top-tier liberal arts college in the united states. This focus also capitalizes on the strengths of the collecting expertise of alumni, donors, and friends of kenyon college. Finally, the gallery collection focus presents opportunities for contemporary art to be commissioned or gifted by artists who may be affiliated with the programming of the gund gallery through residencies, exhibitions, visiting artist talks, and other programmatic formats.

Part X, Line 2:

FIN 48 (ASC 740) FOOTNOTE - THE FOLLOWING FOOTNOTE APPEARS IN THE CONSOLIDATED FINANCIAL STATEMENTS OF KENYON COLLEGE, THE GRAHAM GUND GALLERY, AND OTHER RELATED ENTITIES: FEDERAL INCOME TAXES - THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE, THE KENYON REVIEW, THE GUND GALLERY, THE KOKOSING NATURE PRESERVE AND THE PHILANDER CHASE CONSERVANCY ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(a) OF THE INTERNAL REVENUE CODE AS PUBLIC CHARITIES DESCRIBED IN SECTION 501(c)(3); ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE KENYON INN MANAGEMENT COMPANY IS SUBJECT TO FEDERAL INCOME TAXES, WHICH FOR JUNE 30, 2017 AND 2016 WERE NOT SIGNIFICANT TO THESE CONSOLIDATED FINANCIAL STATEMENTS. THERE WERE NO UNRECOGNIZED TAX BENEFITS AS OF JUNE 30, 2017. THE INCOME TAX RETURNS FOR ALL ENTITIES REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES, GENERALL FOR THREE YEARS.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
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IRS990/MissionDesc0THE GALLERY'S VISION IS TO BE AN INNOVATIVE PRODUCER OF CHALLENGING NEW KNOWLEDGE ABOUT THE VISUAL. ITS PROGRAMS, EXHIBITIONS, AND PROJECTS WILL:- EMBODY LIBERAL EDUCATION BY EXERCISING CRITICAL AND CREATIVE THINKING APPLIED TO INTER-DISCIPLINARY INVESTIGATION OF THE VISUAL; - RELATE THE HISTORICAL TO THE CONTEMPORARY BY LINKING TODAY'S ISSUES, IDEAS, AND INNOVATIONS WITH EARLIER HISTORICAL MOMENTS; - CONNECT THE GLOBAL TO KENYON COLLEGE (AND KENYON COLLEGE TO THE GLOBAL) THROUGH VALUING DIVERSITY AND CULTURAL AWARENESS; - PROMOTE AN INCLUSIVE DEFINITION OF ART THAT ENGAGES A WIDE RANGE OF VISUAL CULTURES AND VISUALITIES; - CREATE PARTICIPATORY MULTISENSORY EXPERIENCES; AND - ENGAGE THE HIGHEST QUALITY WORKS OF ART THROUGH ACTIVE COLLECTING INITIATIVES.
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