Civic Intelligence

Aspen Art Museum

EIN 84-0746671 • 501(c)3 • Aspen, CO

View Organization Page

Profile

The aspen art museum is a non-collecting institution presenting the newest, most important evolutions in international contemporary art. It's innovative and timely exhibitions, education and public programs, immersive activities, and community happenings actively engage audiences in thought provoking experiences of art, culture, and society.

637 E Hyman AveAspen, CO 81611

www.aspenartmuseum.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.07x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

75th percentile

0.86x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

3rd percentile

-94%

Higher net margin than 3% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

91st percentile

$773,866

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 21.7% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

11th percentile

-7.1%

Faster asset growth than 11% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

1st percentile

-79%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$44,311,820

Down $3,393,182 (-7.1%) from 2024

Liabilities

Down

$3,058,953

Down $17,654 (-0.6%) from 2024

Net Assets

Down

$41,252,867

Down $3,375,528 (-7.6%) from 2024

Operations
Liabilities / Revenue75th percentileNet Margin3rd percentile

Revenue

Down

$3,572,926

Down $13,408,348 (-79%) from 2024

Expenses

Down

$6,948,454

Down $4,662,562 (-40%) from 2024

Net Income

Down

-$3,375,528

Down $8,745,786 (-163%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth11th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2010: $8,070,814Liabilities 2010: $473,597Net Assets 2010: $7,597,2172010Assets 2011: $17,675,622Liabilities 2011: $4,029,878Net Assets 2011: $13,645,7442011Assets 2012: $29,714,101Liabilities 2012: $4,324,697Net Assets 2012: $25,389,4042012Assets 2013: $49,148,484Liabilities 2013: $13,691,504Net Assets 2013: $35,456,9802013Assets 2014: $69,062,653Liabilities 2014: $23,834,658Net Assets 2014: $45,227,9952014Assets 2015: $62,355,715Liabilities 2015: $14,574,719Net Assets 2015: $47,780,9962015Assets 2016: $56,517,303Liabilities 2016: $10,457,748Net Assets 2016: $46,059,5552016Assets 2017: $50,378,122Liabilities 2017: $5,391,880Net Assets 2017: $44,986,2422017Assets 2018: $47,387,893Liabilities 2018: $4,130,581Net Assets 2018: $43,257,3122018Assets 2019: $45,918,124Liabilities 2019: $4,031,949Net Assets 2019: $41,886,1752019Assets 2020: $44,194,860Liabilities 2020: $3,710,933Net Assets 2020: $40,483,9272020Assets 2021: $45,036,257Liabilities 2021: $3,220,433Net Assets 2021: $41,815,8242021Assets 2022: $42,487,340Liabilities 2022: $3,328,577Net Assets 2022: $39,158,7632022Assets 2023: $42,038,641Liabilities 2023: $2,803,891Net Assets 2023: $39,234,7502023Assets 2024: $47,705,002Liabilities 2024: $3,076,607Net Assets 2024: $44,628,3952024Assets 2025: $44,311,820Liabilities 2025: $3,058,953Net Assets 2025: $41,252,8672025

Highlighted filing

2025

Assets$44,311,820
Liabilities$3,058,953
Net Assets$41,252,867
Open 2025 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MExpenses 2010: $3,125,5212010Expenses 2011: $4,753,7152011Expenses 2012: $4,017,6972012Expenses 2013: $3,939,7522013Revenue 2014: $16,727,033Expenses 2014: $6,793,765Net Income 2014: $9,933,2682014Revenue 2015: $11,748,677Expenses 2015: $9,195,676Net Income 2015: $2,553,0012015Revenue 2016: $7,057,682Expenses 2016: $8,866,123Net Income 2016: -$1,808,4412016Revenue 2017: $6,969,653Expenses 2017: $8,042,966Net Income 2017: -$1,073,3132017Revenue 2018: $6,000,105Expenses 2018: $7,729,035Net Income 2018: -$1,728,9302018Revenue 2019: $6,950,284Expenses 2019: $8,321,421Net Income 2019: -$1,371,1372019Revenue 2020: $5,866,085Expenses 2020: $7,268,333Net Income 2020: -$1,402,2482020Revenue 2021: $9,544,522Expenses 2021: $8,212,625Net Income 2021: $1,331,8972021Revenue 2022: $9,389,481Expenses 2022: $12,046,542Net Income 2022: -$2,657,0612022Revenue 2023: $11,140,666Expenses 2023: $11,133,692Net Income 2023: $6,9742023Revenue 2024: $16,981,274Expenses 2024: $11,611,016Net Income 2024: $5,370,2582024Revenue 2025: $3,572,926Expenses 2025: $6,948,454Net Income 2025: -$3,375,5282025

Highlighted filing

2025

Revenue$3,572,926
Expenses$6,948,454
Net Income-$3,375,528
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$44,311,820
Liabilities
$3,058,953
Net assets
$41,252,867
Revenue
$3,572,926
Expenses
$6,948,454
Net income
-$3,375,528
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$44.3$3.06$41.3$3.57$6.95$3.38
2024Detailed filing. Detailed filing data is available for this year.$47.7$3.08$44.6$17.0$11.6$5.37
2023Detailed filing. Detailed filing data is available for this year.$42.0$2.80$39.2$11.1$11.1$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.5$3.33$39.2$9.39$12.0$2.66
2021Detailed filing. Detailed filing data is available for this year.$45.0$3.22$41.8$9.54$8.21$1.33
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.2$3.71$40.5$5.87$7.27$1.40
2019Detailed filing. Detailed filing data is available for this year.$45.9$4.03$41.9$6.95$8.32$1.37
2018Detailed filing. Detailed filing data is available for this year.$47.4$4.13$43.3$6.00$7.73$1.73
2017Detailed filing. Detailed filing data is available for this year.$50.4$5.39$45.0$6.97$8.04$1.07
2016Detailed filing. Detailed filing data is available for this year.$56.5$10.5$46.1$7.06$8.87$1.81
2015Detailed filing. Detailed filing data is available for this year.$62.4$14.6$47.8$11.7$9.20$2.55
2014Detailed filing. Detailed filing data is available for this year.$69.1$23.8$45.2$16.7$6.79$9.93
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.1$13.7$35.5$3.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$4.32$25.4$4.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.7$4.03$13.6$4.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.07$0.47$7.60$3.13
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Mar 31, 2025
Signed
Feb 13, 2026
Return Version
2024v5.5
Gross Receipts
$3,731,476
Mission and Program Overview

Mission

The aspen art museum is a non-collecting institution presenting the newest, most important evolutions in international contemporary art. It's innovative and timely exhibitions, education and public programs, immersive activities, and community happenings actively engage audiences in thought provoking experiences of art, culture, and society.

Presenting the newest, most important evolutions in international and contemporary art.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$35,229,272$34,655,096▼ $574,176
Pledges and Grants Receivable$6,730,753$6,670,053▼ $60,700
Savings and Temporary Cash Investments$2,476,822$825,236▼ $1,651,586
Inventories for Sale or Use$362,110$374,486▲ $12,376
Cash and Non-Interest-Bearing Accounts-$248,509-
Prepaid Expenses and Deferred Charges$118,189$88,417▼ $29,772
Accounts Receivable$1,822,700$42,290▼ $1,780,410
Total Assets$47,705,002$44,311,820▼ $3,393,182
Other Assets Total$965,156$1,407,733▲ $442,577
Liabilities
Tax Exempt Bond Liabilities$1,912,164$1,901,105▼ $11,059
Accounts Payable and Accrued Expenses$1,008,679$875,084▼ $133,595
Deferred Revenue$82,359$209,359▲ $127,000
Other Liabilities$73,405$73,405→ $0
Total Liabilities$3,076,607$3,058,953▼ $17,654
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$36,991,187$33,615,659▼ $3,375,528
Net Assets With Donor Restrictions$7,637,208$7,637,208→ $0
Total Net Assets Fund Balance$44,628,395$41,252,867▼ $3,375,528
Total Liabilities and Net Assets / Fund Balance$47,705,002$44,311,820▼ $3,393,182

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,373,674$10,240,076$37,613,750
Land$7,153,965-$7,153,965
Equipment$127,457$715,123$842,580

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$41,518,729$3,180,600▼ $394,402$184,695$42,087,036
2023$36,266,963$1,073,216▲ $7,088,721$1,263,062$41,518,729
2022$33,699,250$982,807▲ $3,212,906-$36,266,963
2021$39,767,568$327,470▼ $4,829,963-$33,699,250
2020$34,326,737$2,858,660▲ $3,852,171-$39,797,568
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicola LeesChief Executive OfficerFT$709,489$64,377$773,866
Jaclyn CarrDeputy Director of AdvancementFT$208,989$19,001$227,990
Christine NavinDirector of OperationsFT$168,589$16,748$185,337
Daniel MerrittChief CuratorFT$138,913$10,577$149,490
Janelle Caudill FormerControllerFT$125,921$5,037$130,958
Vincent HartDirector of FacilitiesFT$113,399-$113,399
Chasen GoluckeActing Director of FinanceFT$92,265$10,577$102,842

Board Members and Trustees

NameTitle
Amnon RodanPresident/acting Treasurer
Jamie TischVice President
Allison RoseTrustee
Barbara Bluhm-kaulTrustee
Bruce EtkinTrustee
Chris BrownTrustee
Christy FererTrustee
David GanekTrustee
Domenico De SoleTrustee
Gayle StoffelTrustee
Janet CrownTrustee
Jeff CitrinTrustee
Joe FelsonTrustee
Mary ZlotTrustee
Melony LewisTrustee
Nancy MagoonTrustee
Nancy RogersTrustee
Paul PariserTrustee
Sarah ArisonTrustee
Sarah BroughtonTrustee
Sasha BassTrustee
Steve HansenTrustee
Marcy EdelsteinSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Molly MciverConsulting256 MIDWOOD STREET, Brooklyn, NY 11225$251,250
Revenue and Support

Revenue Composition

Contributions and Grants
$3,472,301
Program Service Revenue
$1,185
Investment Income
$95
Other Revenue
$99,345
All Other Contributions
$3,263,957
Change in Net Assets
$-3,375,528

Noncash Contribution Practices

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

Major Expense Lines

Line ItemAmount
Other Expenses$4,336,848
Salaries, Compensation, and Employee Benefits$2,611,606
Total Fundraising Expense$1,216,161
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,072,697$81,313$555,248$1,709,258
Fees for Services Other$1,039,632$376,254$199,968$1,615,854
Travel$426,074$206,492$117,205$749,771
Depreciation Depletion$430,632$57,418$86,126$574,176
Current Officers, Directors, Trustees, and Key Employees$258,126$119,432$86,042$463,600
Other Employee Benefits$73,254$198,883$15,051$287,188
Occupancy$204,693$27,756$47,873$280,322
Payroll Taxes$97,846$16,675$37,039$151,560
Advertising$31,707$32,865$4,339$68,911
Other Expenses$15,523$18,334$2,963$36,820
All Other Expenses$10,306$9,179$15,094$34,579
Interest$3,911$521$782$5,214
Office Expenses$273$2,222$470$2,965
Total Functional Expenses$4,530,939$1,201,354$1,216,161$6,948,454
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$83,700
Fundraising Direct Expenses$35,456
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Slopeside Soiree$164,600$83,700$9,365$74,335
Total Events$164,600$83,700$35,456$48,244
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$73,405

Bond Issues

BondIssuerIssuedIssue PricePurpose
AColorado Educational and Cultural Facilities Authority2012-10-12$21,000,000Construction of new museum

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$21,000,000$3,508,461-$383,791

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Section A, Line 8B

“The organization does not have any committees with the authority to act on behalf of the governing body.”

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

“A copy of the form 990 is submitted to the board of trustees for review and approval prior to filing with the irs.”

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

“A conflict of interest disclosure statement is required to be filled out on an annual basis by members of the board of trustees, and any disclosures are reviewed by the chief executive officer/director. Key employees are required to disclose any conflicts of interest to the chief executive officer/director; the chief executive officer/director is required to disclose to the co-presidents. If a conflict of interest exists, the trustee or employee is asked to refrain from voting or making final decisions in any matters involving the conflict of interest.”

Form 990, Part VI, Section B, Line 15A

“The director and ceo's compensation is determined annually by the compensation committee of the board. The committee is comprised of board members who have experience on museum boards and are familiar with the compensation standards of the industry. A periodic compensation audit is also performed by an outside firm. The board has delegated the ceo to set the compensation for other key employees using comparability data.”

Form 990, Part VI, Section C, Line 18

“The museum's 990 is available for public inspection through candid.org (formerly guidestar).”

Form 990, Part VI, Section C, Line 19

“All organizational documents, filings and financial data are maintained at the organization's home office and are available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Aspen Art Museum
EIN
84-0746671
Phone
9709258050
Address
637 E HYMAN AVE, ASPEN, CO 81611

Signing Officer

Name
Amnon Rodan
Title
President and Acting Treasurer
Phone
9709258050
Signed
2026-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amnon Rodan
Formed
1977
Legal Domicile
Co
Voting Board Members
25
Independent Board Members
25
Employees
75
Volunteers
35

Preparer

Firm
Reese Henry & Company Inc
Address
400 E MAIN ST STE 2, ASPEN, CO 81611
Preparer
Mark S Kavasch CPA
Phone
9709253771
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees: program service expenses 1,039,632. Management and general expenses 359,917. Fundraising expenses 199,968. Total expenses 1,599,517. Bank fees: program service expenses 0. Management and general expenses 16,337. Fundraising expenses 0. Total expenses 16,337.”

Form 990 Page 1 Section A

“The organization changed its fiscal year from september 30, 2024 to march 31, 2025”

Financial Statement Notes

PART V, LINE 4:

“The endowment consists of individual funds established by donors to provide annual funding for specific activities and general operations of aspen art museum. Endowment fund earnings are either restricted or unrestricted based on the donor's request. Restricted funds include exhibition costs, lecture series, visiting artists, director costs, latin american art outreach, roof deck exhibition costs, and publications. The unrestricted endowment fund allows for earnings to be used for general museum purposes.”

PART X, LINE 2:

“Aspen art museum and aspen art museum foundation are organized as colorado nonprofit corporations and have been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(a) of the internal revenue code as organizations described in section 501(c)(3), qualify for the charitable contribution deduction, and have been determined not to be private foundations. Each entity is annually required to file a return of organization exempt from income tax (form 990) with the irs. As a wholly owned subsidiary of the foundation, 81611 properties was established solely for the purpose of owning and holding employee housing properties in accordance with the aspen/pitkin county housing authority and is included in the foundation's form 990. The entities are subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. Each entity has determined it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Gain on increase of cash surrender value of life insurance”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Rental expenses netted with income on form 990 -37,813”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses netted with income on form 990 - 37,813”

Raw XML AppendixShowing 400 of 855 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.

Path#Value
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0875084
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PRESENTING THE NEWEST, MOST IMPORTANT EVOLUTIONS IN INTERNATIONAL AND CONTEMPORARY ART.
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IRS990/Desc0THE PRIMARY GOAL OF THE ASPEN ART MUSEUM (AAM) IS TO BE A COMMUNITY RESOURCE FOR THE APPRECIATION, EDUCATION, AND DISCUSSION OF CONTEMPORARY ART. AAM EXHIBITIONS CAN BE SUMMARIZED AS FALLING INTO THREE GENERAL CATEGORIES: FIRST-TIME U.S. MUSEUM EXHIBITIONS BY SIGNIFICANT EMERGING CONTEMPORARY ARTISTS FROM AROUND THE GLOBE; SOLO EXHIBITIONS BY IMPORTANT OR ESTABLISHED CONTEMPORARY ARTISTS THAT FOCUS ON NEW, UNRECOGNIZED, OR UNDERAPPRECIATED ASPECTS OF THEIR WORK; GROUP EXHIBITIONS CURATED TO ADDRESS PRESCIENT OR TOPICAL CONTEMPORARY CULTURAL, SOCIAL, OR POLITICAL SUBJECT MATTER, OR OTHERWISE CORRESPONDING TO AN ORGANIZING CURATORIAL THEME. THE AAM IS COMMITTED TO PROVIDING EXHIBITION AND EDUCATIONAL PROGRAMMING ON A YEAR-ROUND BASIS FOR VISITORS TO THE ROARING FORK VALLEY AND SURROUNDING COLORADO COMMUNITIES.
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IRS990/MissionDesc0THE ASPEN ART MUSEUM IS A NON-COLLECTING INSTITUTION COMMITTED TO ADVANCING CONTEMPORARY ART AND DRIVING CULTURAL CHANGE THROUGH EXHIBITIONS, CRITICAL DIALOGUES, AND COMMUNITY ENGAGEMENT. INSPIRED BY ITS ALPINE SURROUNDINGS AND ASPEN'S HISTORY OF EXPERIMENTATION AND EXCHANGE, THE MUSEUM EMBRACES CREATIVE POSSIBILITIES THAT EMERGE WHEN ARTISTS ARE INVITED TO LEAVE THEIR IMPRINT ON THE MUSEUM.
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