ARKANSAS MUSEUM OF FINE ARTS FOUNDATION

EIN: 237337495 501(c)(3) Arts, Culture & Humanities

LITTLE ROCK, AR

Total Revenue
$8,225,664
Total Expenses
$9,575,741
Total Assets
$68,443,256
Net Assets
$61,664,345
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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
AR
Principal Officer
DR VICTORIA RAMIREZ
Phone
5013724000
Tax Period
2024-01-01 to 2024-12-31

ARKANSAS ARTS CENTER FOUNDATION, founded in 1972, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $51.7M in total revenue in fiscal year 2017. Revenue surged 608% from the prior year, signaling strong growth momentum. The organization ran a surplus of $46.6M, a strong 90% operating margin.

Mission

THE ARKANSAS MUSEUM OF FINE ARTS FOUNDATION WAS CREATED BY THE ARKANSAS MUSEUM OF FINE ARTS IN 1972 TO MANAGE AND ADMINISTER AN ENDOWMENT FUND FOR THE BENEFIT OF THE MUSEUM AND TO HOLD LEGAL TITLE TO THE COLLECTION OF ART OBJECTS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,133,757
Program Service Revenue $0
Investment Income $3,100,680
Other Revenue $-8,773
TOTAL REVENUE $8,225,664

Expense Breakdown

Grants Paid $6,857,929
Salaries & Benefits $1,126,014
Fundraising Expenses $0
Program Expenses $9,575,741
Other Expenses $1,591,798
TOTAL EXPENSES $9,575,741

Year-over-Year Comparison

2024 2023 Change
Revenue $8,225,664 $15,980,505 -0.5%
Expenses $9,575,741 $23,766,934 -0.6%
Net Income $-1,350,077 $-7,786,429 -0.8%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
10
Independent Members
9
Employees
N/A
Volunteers
10

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$316,112
Total Directors
10
$316,112
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WARREN STEPHENS CHAIRMAN 0.30
Officer Director
$0 $0 $0
GEORGE O'CONNOR TREASURER 0.30
Officer Director
$0 $0 $0
BEN HUSSMAN VICE - CHAIRMAN 0.30
Officer Director
$0 $0 $0
CLAIBORNE DEMING DIRECTOR 0.30
Director
$0 $0 $0
ROBERT TUCKER PAST CHAIR 0.30
Officer Director
$0 $0 $0
JOHN ED ANTHONY DIRECTOR 0.30
Director
$0 $0 $0
HARRIET STEPHENS DIRECTOR 0.30
Director
$0 $0 $0
TERRI ERWIN DIRECTOR 0.30
Director
$0 $0 $0
MICHAEL MAYTON DIRECTOR 0.30
Director
$0 $0 $0
VICTORIA RAMIREZ SECRETARY 0.30
Officer Director
$0 $0 $316,112
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $8,225,664 $9,575,741 $68,443,256 $-1,350,077
2023 $15,980,505 $23,766,934 $65,509,682 $-7,786,429
2022 $14,055,557 $28,764,737 $69,331,609 $-14,709,180
2021 $14,434,670 $15,279,300 $89,066,832 $-844,630
2021 $18,778,398 $46,576,678 $87,159,025 $-27,798,280
2021 $19,970,442 $40,248,869 $93,043,643 $-20,278,427
2019 $34,508,785 $11,123,492 $102,792,864 $23,385,293
2018 $51,656,913 $5,099,461 $80,651,214 $46,557,452
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