Civic Intelligence

Phoenix Art Museum

990 • Fiscal year 2018 • EIN 86-0072608

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

1625 N Central AvenuePhoenix, AZ 85004-1685

(602) 257-1880

Siviq Scores

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

Liabilities / Assets

64th percentile

0.37x

Higher debt load relative to assets than 64% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

56th percentile

0.30x

Higher debt load relative to revenue than 56% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

81st percentile

$313,817

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

91st percentile

34%

Faster asset growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

78th percentile

21%

Faster revenue growth than 78% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Up

$11,530,687

Up $2,902,189 (+34%) from 2017

Net Assets

Up

$7,230,312

Up $1,282,853 (+22%) from 2017

Liabilities

Up

$4,300,375

Up $1,619,336 (+60%) from 2017

Revenue

Up

$14,321,517

Up $2,463,431 (+21%) from 2017

Expenses

Up

$11,766,227

Up $656,626 (+5.9%) from 2017

Net Income

Up

$2,555,290

Up $1,806,805 (+241%) from 2017

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: $14,012,462Liabilities 2010: $5,533,026Net Assets 2010: $8,479,4362010Assets 2011: $12,952,973Liabilities 2011: $4,921,375Net Assets 2011: $8,031,5982011Assets 2012: $11,078,519Liabilities 2012: $5,456,904Net Assets 2012: $5,621,6152012Assets 2013: $10,575,318Liabilities 2013: $6,163,272Net Assets 2013: $4,412,0462013Assets 2014: $9,557,942Liabilities 2014: $6,317,321Net Assets 2014: $3,240,6212014Assets 2015: $9,468,365Liabilities 2015: $4,469,296Net Assets 2015: $4,999,0692015Assets 2016: $10,958,470Liabilities 2016: $5,724,651Net Assets 2016: $5,233,8192016Assets 2017: $8,628,498Liabilities 2017: $2,681,039Net Assets 2017: $5,947,4592017Assets 2018: $11,530,687Liabilities 2018: $4,300,375Net Assets 2018: $7,230,3122018Assets 2019: $8,171,843Liabilities 2019: $2,843,458Net Assets 2019: $5,328,3852019Assets 2020: $7,242,004Liabilities 2020: $3,366,937Net Assets 2020: $3,875,0672020Assets 2021: $8,989,421Liabilities 2021: $3,504,970Net Assets 2021: $5,484,4512021Assets 2022: $12,566,179Liabilities 2022: $2,446,247Net Assets 2022: $10,119,9322022Assets 2023: $11,117,537Liabilities 2023: $2,358,584Net Assets 2023: $8,758,9532023Assets 2024: $8,804,555Liabilities 2024: $3,387,667Net Assets 2024: $5,416,8882024

Highlighted filing

2018

Assets$11,530,687
Liabilities$4,300,375
Net Assets$7,230,312

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $8,114,5082010Expenses 2011: $8,240,8082011Expenses 2012: $8,735,0552012Revenue 2013: $8,402,608Expenses 2013: $9,052,337Net Income 2013: -$649,7292013Revenue 2014: $10,537,451Expenses 2014: $11,221,406Net Income 2014: -$683,9552014Revenue 2015: $13,309,634Expenses 2015: $10,892,267Net Income 2015: $2,417,3672015Revenue 2016: $11,394,211Expenses 2016: $10,908,217Net Income 2016: $485,9942016Revenue 2017: $11,858,086Expenses 2017: $11,109,601Net Income 2017: $748,4852017Revenue 2018: $14,321,517Expenses 2018: $11,766,227Net Income 2018: $2,555,2902018Revenue 2019: $9,770,728Expenses 2019: $12,451,997Net Income 2019: -$2,681,2692019Revenue 2020: $9,400,156Expenses 2020: $10,876,507Net Income 2020: -$1,476,3512020Revenue 2021: $9,793,002Expenses 2021: $8,277,362Net Income 2021: $1,515,6402021Revenue 2022: $14,886,842Expenses 2022: $9,932,178Net Income 2022: $4,954,6642022Revenue 2023: $10,338,592Expenses 2023: $11,870,068Net Income 2023: -$1,531,4762023Revenue 2024: $12,500,631Expenses 2024: $15,917,111Net Income 2024: -$3,416,4802024

Highlighted filing

2018

Revenue$14,321,517
Expenses$11,766,227
Net Income$2,555,290
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$15,665,579
Mission and Program Overview

Mission

Phoenix art museum is a vibrant destination connecting people to great art from around the world to enrich their lives and communities. This vision is supported by four strategic pillars which are: (continued on schedule o)1. Exceptional art - to celebrate the highest quality visual artthrough outstanding exhibitions, acquisitions and collectionstewardship.2. Enrichment and learning - to create a nationally recognized modelfor enhancing experience of the visual arts through interpretation,engaged learning, and enrichment.3. Broad audience - to attract the broadest possible audience to themuseum as consistent and enthusiastic participants.4. Fiscal stability and organizational excellence - to achieve andmaintain a strong financial foundation.

World class museum, see schedule o, part iii explanations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,180,852$4,748,417▲ $567,565
Pledges and Grants Receivable$1,846,315$2,879,146▲ $1,032,831
Savings and Temporary Cash Investments$916,272$1,597,169▲ $680,897
Cash and Non-Interest-Bearing Accounts$587,487$1,415,414▲ $827,927
Inventories for Sale or Use$353,298$331,788▼ $21,510
Prepaid Expenses and Deferred Charges$151,367$132,511▼ $18,856
Accounts Receivable$150,074$57,377▼ $92,697
Total Assets$8,628,498$11,530,687▲ $2,902,189
Other Assets Total$442,833$368,865▼ $73,968
Liabilities
Mortgage Notes Payable Secured by Investment Property$663,872$2,213,872▲ $1,550,000
Accounts Payable and Accrued Expenses$948,384$891,438▼ $56,946
Other Liabilities$685,941$784,554▲ $98,613
Deferred Revenue$382,842$410,511▲ $27,669
Total Liabilities$2,681,039$4,300,375▲ $1,619,336
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,819,147$7,522,742▲ $2,703,595
Unrestricted Net Assets$1,128,312$-292,430▼ $1,420,742
Total Net Assets Fund Balance$5,947,459$7,230,312▲ $1,282,853
Total Liabilities and Net Assets / Fund Balance$8,628,498$11,530,687▲ $2,902,189

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,998,211$8,262,250$11,260,461
Equipment$461,573$3,554,611$4,016,184
Land$699,253-$699,253
Other Land Buildings$589,380-$589,380

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$27,312,998$86,843▲ $2,064,428-$27,968,026
2017$24,918,790$1,278,867▲ $2,287,324-$27,312,998
2016$25,022,737$1,592,609▼ $511,232-$24,918,790
2015$25,422,566$5,259,560▲ $31,541$4,400,308$25,022,737
2014$23,739,569$295,894▲ $2,777,782-$25,422,566
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amanda CruzSybil Harrington Director,FT$293,610$20,207$313,817
Kirsten Peterson JohansenDeputy Director, AdvancementFT$236,970$12,770$249,740
Dawn OlsenDeputy Dir, Finance and OperationsFT$200,000$2,154$202,154
James BallingerDirector EmeritusFT$75,000$125,000$200,000
Gilbert VicarioThe Selig Family Chief CuratorFT$124,306$9,209$133,515

Board Members and Trustees

NameTitle
Jon HulburdChairman
Carter EmersonVice Chairman
Meredith Von ArentschildtVice Chairman
Alan W KosloffTrustee
Angela C SingerTrustee
Ann SinerTrustee
Blair J PortigalTrustee
Craig R BarrettTrustee
David LenhardtTrustee
David RousseauTrustee
Deanna SalazarTrustee
Denise DelgadoTrustee
Diane HalleTrustee
Donald BrandtTrustee
Dr Meryl HaberTrustee
Eileen ElliottTrustee
Ellen KatzTrustee
Francis NajafiTrustee
Garrett McknightTrustee
Jane JozoffTrustee
Jim PattersonTrustee
Jo BrandtTrustee
Joan CreminTrustee
John BoumaTrustee
John W GrahamTrustee
Judy GoldbergTrustee
Judy LinhartTrustee
Ken KendrickTrustee
Kimberly F RobinsonTrustee
Larry ClemmensenTrustee
Lori MasseyTrustee
Margot KnightTrustee
Matthew BolandTrustee
Mike CohnTrustee
Nancy HanleyTrustee
Parvinder Khanuja MdTrustee
Paul GrovesTrustee
Raymond SlomskiTrustee
Rosellen PappTrustee
Ryan BacklundTrustee
Sally LehmannTrustee
Sharron LewisTrustee
Sue SeligTrustee
Tim JonesTrustee
Tony AstorgaTrustee (left 9/2017)
Joe LampeTrustee (passed Away 1/18)
Jay SchlottTrustee (resigned 10/17)
Adam SingerTrustee (resigned 9/17)
Doris OngTrustee (resigned 9/17)
Erin GogolakTrustee (resigned 9/17)
Amy CohnSecretary
Alice BazlenSecretary (resigned 9/17)
Mark FeldmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
StabaarteStorage Solutions494 BROADWAY, Newport, RI 20840$322,306
Merchants Building Maintenance LLCConstruction1190 MONTEREY PASS ROAD, Monterey Park, CA 91754$210,243
The GroundskeeperGrounds KeepingPO BOX 31001-2463, Pasadena, CA 91110$196,015
Masterpiece International LtdShipping39 BROADWAY 14TH FLOOR, New York, NY 10006$178,645
Santa Barbara CateringCatering1090 W 5TH ST, Tempe, AZ 85281$161,073
Revenue and Support

Revenue Composition

Contributions and Grants
$11,932,788
Program Service Revenue
$2,309,584
Investment Income
$5,972
Other Revenue
$73,173
All Other Contributions
$8,442,879
Change in Net Assets
$2,555,290

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$342,873Fair Market Value (FMV)
Other Non Cash Contri Table113$308,154Fair Market Value (FMV)
Total Noncash Contributions121$651,027-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,737,443
Other Expenses$5,028,784
Total Fundraising Expense$599,690
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,890,409$1,152,148$400,704$4,443,261
Office Expenses$827,275$386,148$56,129$1,269,552
Current Officers, Directors, Trustees, and Key Employees$401,853$319,471$303,866$1,025,190
Occupancy$210,890$458,965$82,991$752,846
Other Employee Benefits$504,899$142,360$35,931$683,190
Depreciation Depletion$480,114$15,487$20,651$516,252
Payroll Taxes$263,613$114,053$38,471$416,137
Advertising$359,281$5,093$3,629$368,003
Other Expenses$161,835$10,982$124,124$296,941
Fees for Services Other$163,219$39,984$47,632$250,835
Travel$130,766$11,332$30,707$172,805
Pension Plan Contributions$93,126$71,701$4,838$169,665
Insurance$72,298$56,451$457$129,206
Fees for Services Accounting-$66,125-$66,125
Information Technology$4,400$31,575-$35,975
Fees for Services Legal-$30,685$1,807$32,492
Interest-$26,142-$26,142
Conferences and Meetings$6,460$7,075$629$14,164
All Other Expenses$372,772$174,764$-660,222$-112,686
Total Functional Expenses$8,044,078$3,122,459$599,690$11,766,227
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$921,573
Fundraising Gross Income$525,467
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Independent Womens Luncheon$524,376$97,139$101,336$-4,197
The Party$484,537$17,750$111,913$-94,163
Total Events$2,045,750$525,467$921,573$-396,106
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charitable Gift Annuities$302,088
Due to Related Parties$223,151
Accrued Pension$144,732
Supplemental Retirement Account$114,583
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The museum has a membership program that currently has 7,909 members.

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

The return will be provided to each board member to read and each will be given the opportunity to ask questions.

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

The museum's guidelines for professional practices questionnaire and compliance agreement is required to be completed and signed by trustees, presidents of support organizations, museum director, division heads, department heads, and all accounting staff annually. This process is done every year in september. The completed and signed agreements are reviewed by human resources manager for completeness. Any question that arises is discussed with the individual signing the agreement.

Form 990, Part VI, Section B, Line 15

Data from other museums is used to evaluate compensation for the ceo, including from the american association of museum directors. The executive committee makes the decision. Decisions made during budget process. Last performed march 2017. For determining the compensation of other officers or key employees, comparisons are made with other museums. Decisions made during budget process by the ceo. Last performed march 2017.

Form 990, Part VI, Section C, Line 19

The organization financial statements are available on the website and the organization makes its governing documents and conflict of interest policy available upon request.

Filing and Contact Details

Filer

Filer Name
Phoenix Art Museum
EIN
86-0072608
Phone
6022571880
Address
1625 N CENTRAL AVENUE, PHOENIX, AZ 85004-1685

Signing Officer

Name
Mark Koenig
Title
Chief Financial Officer
Phone
6022571880
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Koenig
Formed
1949
Legal Domicile
Az
Voting Board Members
46
Independent Board Members
46
Employees
248
Volunteers
1,888

Preparer

Firm
Cliftonlarsonallen Llp
Address
20 E THOMAS RD STE 2300, PHOENIX, AZ 85012
Preparer
Mary C Green
Phone
6022662248
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

Phoenix art museum is a vibrant destination connecting people to great art from around the world to enrich their lives and communities. This vision is supported by four strategic pillars which are: 1. Exceptional art - to celebrate the highest quality visual art through outstanding exhibitions, acquisitions and collection stewardship. 2. Enrichment and learning - to create a nationally recognized model for enhancing experience of the visual arts through interpretation, engaged learning, and enrichment. 3. Broad audience - to attract the broadest possible audience to the museum as consistent and enthusiastic participants. 4. Fiscal stability and organizational excellence - to achieve and maintain a strong financial foundation.

Form 990, Part III, Line 4A

Made in brazil - latin art, past/future/present: the fruit of a collaboration between the phoenix art museum (in arizona, us) and mam (museu de arte moderna de so paulo), the exhibition past/future/present arrived in the state capital of so paulo on 01/22 with a selection of 72 works and is the product of the joint efforts of two curators: the north american, vanessa davidson, and the brazilian, cau alves. With pieces produced between 1990 and 2010, the show was first staged in the united states in 2017, displaying brazilian works of contemporary art to the country's public, and represented the first exhibition dedicated to mam's collection in the us. The exhibition is organized around five themes: the body/social body; shifting identities; landscape, reimagined; impossible objects; and the reinvention of the monochrome. The participating artists include: adriana varejo, beatriz milhazes, tunga, dora longo bahia, waltercio caldas, carlito carvalhosa, leda catunda, jos damasceno, rosngela renn, anna bella geiger, carmela gross and nelson leirner. The choice of names represents the varied styles, themes and media present in brazilian contemporary art, demonstrating that the concept of "brazilianness" cannot be defined merely in geographic terms. "with this show, we reveal a brazil to foreigners that they were not familiar with. For the brazilian public, we want to create the same sense of surprise with contemporary works by renowned artists and also by less well known ones", states the curator cau alves. Historical moments in the country's past, social norms, indigenous myths and transgressions reveal how brazilian artists have adapted to the reality of globalization: "they speak artistic languages fluently with a focus on the global scene, at the same time that their art, imbued both with local specificity and universal resonance, has itself become an international point of reference", explains vanessa davidson. Participating artists: albano afonso, keila alaver, efrain almeida, rafael assef, dora longo bahia, rodrigo braga, waltercio caldas, rogrio canella, carlito carvalhosa, leda catunda, lia chaia, sandra cinto, felipe cohen, rochelle costi, jos damasceno, lenora de barros, antonio dias, iran do esprito santo, marcius galan, anna bella geiger, carmela gross, tadeu jungle, lucia koch, nelson leirner, jac leirner, jos leonilson, artur lescher, laura lima, antonio manuel, cinthia marcelle, marepe, rodrigo matheus, cildo meireles, beatriz milhazes, odires mlszho, marcelo moscheta, pedro motta, vik muniz, ernesto neto, rivane neuenschwander, nazareth pacheco, rosana paulino, paz, penna prearo, florian raiss, caio reisewitz, rosngela renn, eryk rocha & tunga, thiago rocha pitta, regina silveira, valeska soares, ana maria tavares, tunga, adriana varejo, cssio vasconcellos, laura vinci, carlos zilio, and marcelo zocchio.

Form 990, Part III, Line 4B

Iris van herpen - transforming fashion: iris van herpen: transforming fashion surveys 15 collections of the dynamic, innovative work of dutch designer iris van herpen. Renowned for her use of 3-d printing, van herpen is widely considered one of contemporary fashion's most progressive creators, and is a favored designer of style icons, including beyonce, lady gaga, bjork, cara delevingne, and others. Featuring 45 ensembles created from 2008 - 2015, the minimalistic installation will also include a selection of her fantastical shoe designs and runway show footage. A featured work is the dress from her 2014 collection biopiracy, on view for the first time since it was purchased by arizona costume institute to celebrate the 50th anniversary of the fashion design collection and the museum. Since her first collection in 2007, van herpen has made a name for herself within and beyond the fashion world by combining tradition with radical innovation. Unparalleled in her multidisciplinary approach to creation, she has collaborated with artists, architects, and scientists such as philip beesley, jolan van der wiel, and bart hess, as well as teams at the european organization for nuclear research (cern) and massachusetts institute of technology. In 2011, time magazine included her 3-d printed dresses on its list of 50 best inventions.

Form 990, Part III, Line 4C

Valeska soares - any moment now: valeska soares: any moment now is a mid-career survey exhibition of soares' (b.1957) work, the first at a u.s. Museum since 2003. The exhibition features approximately 45 multi-media works, sculptures, videos, and installations created by the brazilian artist during the past two decades. This project represents a landmark partnership between phoenix art museum and the santa barbara museum of art as part of the getty-led pacific standard time: la/la initiative. Valeska soares creates polished, minimalistic artworks that encourage visitor participation. Through installation and assemblage, she engages with international art traditions and world literature. In her multifaceted art, she demonstrates a fascination with space and time, as well as what occurs beyond their perceived limits. Her works directly engage visitors' subjectivities, cultivating both personal experience and universal knowledge and how each of these affects the other. Soares's environmental installations incorporate the effects of reflection, light, entropy, and even scent. Such experiential qualities are rendered through the incorporation of suspended mirrors, light fixtures, perishing flowers, and vessels of perfume and liquor that slowly evaporate over the course of the exhibition. She also often creates installations of book pages, covers, and bindings to weave meanings between disparate texts that viewers connect conceptually by association. Past and future simultaneously permeate her installations and objects, suggesting an underlying narrative that is often cyclical. Weaving together the themes of memory, time, and the sensorial, soares creates poetic works that fuse and expand upon the languages of post-minimalism and conceptual art. As fellow brazilian artist vik muniz has stated: "through a seemingly inexhaustible range of techniques, themes and strategies, soares' work oscillates between materiality and memory, desire and decay, sensation and intoxication."

Form 990, Part IX, Line 24E

Dues and subscriptions: program service expenses 66,707. Management and general expenses 32,035. Fundraising expenses 38,105. Total expenses 136,847. Miscellaneous: program service expenses 79,806. Management and general expenses 39,340. Fundraising expenses 9,146. Total expenses 128,292. Honoraria: program service expenses 118,939. Management and general expenses 0. Fundraising expenses 5,500. Total expenses 124,439. Repairs and maintenance: program service expenses 55,768. Management and general expenses 55,811. Fundraising expenses 0. Total expenses 111,579. Fundraising expenses: program service expenses 8,898. Management and general expenses 33,868. Fundraising expenses 29,344. Total expenses 72,110. Bad debt expense: program service expenses 651. Management and general expenses 13,710. Fundraising expenses 25,500. Total expenses 39,861. Collections conservation: program service expenses 23,616. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,616. Collections management: program service expenses 18,387. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,387. Fundraising expenses moved to statement of revenue: program service expenses 0. Management and general expenses 0. Fundraising expenses -767,817. Total expenses -767,817.

FORM 990, PART XI, LINE 9:

Acquisition of fine art -1,272,437.

Form 990, Part XII, Line 2C

The organization has not changed its oversight process for the audit or its selection process for independent auditors during the year.

Financial Statement Notes

PART III, LINE 1A:

Fine arts collection consists of purchased and donated works of art. The collection is on display to the general public. The museum employs professional staff to ensure that the collection items are preserved and protected. The collection items are not capitalized by the museum. Costs of purchasing collection items, deaccessions of collection items, and proceeds from insurance recoveries are included as a change in the appropriate category of net assets. Proceeds from the deaccession of collection items are restricted for purchases of additional collection items. Acquisitions of fine art, included as a decrease in unrestricted net assets, totaled $1,272,437 and $34,845 or the years ended june 30, 2018 and 2017, respectively. The american alliance of museums (aam) which is the national accreditation organization for museums has a policy related to museum collections. Their policy is that museums do not have to list their collection as an asset on their financial statements. If a museum does elect to list its collection on its financial statements, it must be based on a recent appraisal of the collection. The museum has elected to expense contributions when obtained, and has not capitalized the collection.

PART V, LINE 4:

The museum has various funds that are designated for restricted purposes such as exhibition costs, education programs, art conservation, and educator and curator salaries and benefits. Other funds are used each year as per the wishes of the museum director. We also have funds that are controlled by our support organizations, usually for the acquisition of new art for the museum.

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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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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.80$3.39$5.42$12.5$15.9$3.42
2023Detailed filing. Detailed filing data is available for this year.$11.1$2.36$8.76$10.3$11.9$1.53
2022Detailed filing. Detailed filing data is available for this year.$12.6$2.45$10.1$14.9$9.93$4.95
2021Detailed filing. Detailed filing data is available for this year.$8.99$3.50$5.48$9.79$8.28$1.52
2020Detailed filing. Detailed filing data is available for this year.$7.24$3.37$3.88$9.40$10.9$1.48
2019Detailed filing. Detailed filing data is available for this year.$8.17$2.84$5.33$9.77$12.5$2.68
2018Detailed filing. Detailed filing data is available for this year.$11.5$4.30$7.23$14.3$11.8$2.56
2017Detailed filing. Detailed filing data is available for this year.$8.63$2.68$5.95$11.9$11.1$0.75
2016Detailed filing. Detailed filing data is available for this year.$11.0$5.72$5.23$11.4$10.9$0.49
2015Detailed filing. Detailed filing data is available for this year.$9.47$4.47$5.00$13.3$10.9$2.42
2014Detailed filing. Detailed filing data is available for this year.$9.56$6.32$3.24$10.5$11.2$0.68
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$6.16$4.41$8.40$9.05$0.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$5.46$5.62$8.74
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$4.92$8.03$8.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$5.53$8.48$8.11