TAMPA MUSEUM OF ART FOUNDATION INC

EIN: 311650423 501(c)(3) Arts, Culture & Humanities

TAMPA, FL

Total Revenue
$9,938,208
Total Expenses
$1,503,953
Total Assets
$51,390,959
Net Assets
$49,728,185
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
FL
Principal Officer
FRANK BONSACK
Phone
8134218363
Tax Period
2023-01-01 to 2023-12-31

TAMPA MUSEUM OF ART FOUNDATION INC, founded in 1998, is a community nonprofit in the Arts, Culture & Humanities sector that reported $9.9M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $8.4M, a strong 85% operating margin.

Mission

MAINTAIN AND RAISE FUNDS FOR THE BENEFIT OF THE TAMPA MUSEUM OF ART, INC.

Program Service Accomplishments

Program 1
Expenses: $703,785

THE TAMPA MUSEUM OF ART FOUNDATION (FOUNDATION) IS A SUPPORT 501C3 ORGANIZATION FOR THE TAMPA MUSEUM OF ART (TMA), A CULTURAL INSTITUTE THAT ADDS MEASURABLE VALUE TO PEOPLE'S LIVES. THE TMA IS A...

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THE TAMPA MUSEUM OF ART FOUNDATION (FOUNDATION) IS A SUPPORT 501C3 ORGANIZATION FOR THE TAMPA MUSEUM OF ART (TMA), A CULTURAL INSTITUTE THAT ADDS MEASURABLE VALUE TO PEOPLE'S LIVES. THE TMA IS A PLACE TO CELEBRATE ICONIC WORKS OF ART IN EXHIBITIONS FEATURING BREAKTHROUGHS IN ARTISTIC DIRECTIONS AND WE ARE A VENUE FOR COMMUNITY FORUMS AND DIALOGUES WITH INTERNATIONALLY RECOGNIZED ART AND SCHOLARS. THE TMA IS ALSO A REPOSITORY OF ART FOR CURRENT AND FUTURE GENERATIONS, AS WE PROVIDE STUDIO ART PROGRAMS, SCHOOL FIELD TRIPS FOR STUDENTS AND TOURS FOR ADULTS, AND OFFER OVER SIXTEEN DIFFERENT ART EDUCATION PROGRAMS AND WORKSHOPS FOCUSED ON ANCIENT, MODERN, AND CONTEMPORARY ART. CONTINUED ON SCHEDULE O.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,631,649
Program Service Revenue $0
Investment Income $306,559
Other Revenue $0
TOTAL REVENUE $9,938,208

Expense Breakdown

Grants Paid $703,785
Salaries & Benefits $0
Fundraising Expenses $433,872
Program Expenses $703,785
Other Expenses $800,168
TOTAL EXPENSES $1,503,953

Year-over-Year Comparison

2023 2022 Change
Revenue $9,938,208 $11,197,277 -0.1%
Expenses $1,503,953 $1,275,412 +0.2%
Net Income $8,434,255 $9,921,865 -0.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
24
Independent Members
23
Employees
N/A
Volunteers
23

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
7
$444,332
Total Directors
24
$444,332
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AG JERRY DIVERS PRESIDENT (DECEASED 5/17/24) 1.00
Officer Director
$0 $0 $0
MAUREEN COHN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CHRISTINE PHILLIPS VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JULIO ESQUIVEL SECRETARY 1.00
Officer Director
$0 $0 $0
FRANK BONSACK TREASURER 1.00
Officer Director
$0 $0 $0
MICHAEL A TOMOR EXECUTIVE DIRECTOR 1.00
Officer Director
$0 $149,812 $444,332
DEBRA WILLIAMS PAST PRESIDENT 1.00
Officer Director
$0 $0 $0
CHAD CALLAHAN DIRECTOR 1.00
Director
$0 $0 $0
ROBERT ISBELL DIRECTOR 1.00
Director
$0 $0 $0
CATHY GRANT DIRECTOR 1.00
Director
$0 $0 $0
CARLTON CARTER DIRECTOR 1.00
Director
$0 $0 $0
DAVID CHRISTIAN DIRECTOR 1.00
Director
$0 $0 $0
CORNELIA CORBETT DIRECTOR EMERITI 1.00
Director
$0 $0 $0
STEPHEN DICKEY DIRECTOR 1.00
Director
$0 $0 $0
RICHARD DOBKIN DIRECTOR 1.00
Director
$0 $0 $0
MARGO EURE DIRECTOR 1.00
Director
$0 $0 $0
JAMIE FERNANDEZ DIRECTOR 1.00
Director
$0 $0 $0
MICAH FOGARTY DIRECTOR 1.00
Director
$0 $0 $0
KENNETH PAGES DIRECTOR 1.00
Director
$0 $0 $0
TOM HOCHHAUSLER DIRECTOR 1.00
Director
$0 $0 $0
RAY IFERT DIRECTOR 1.00
Director
$0 $0 $0
DIANNE JACOB DIRECTOR 1.00
Director
$0 $0 $0
DANYELL JONES DIRECTOR 1.00
Director
$0 $0 $0
BARBARA STUBBS DIRECTOR 1.00
Director
$0 $0 $0
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 No data No data No data No data
2023 $9,938,208 $1,503,953 $51,390,959 $8,434,255
2022 $11,197,277 $1,275,412 $45,983,062 $9,921,865
2021 $12,926,131 $734,866 $33,399,197 $12,191,265
2020 $3,072,603 $553,676 $21,459,507 $2,518,927
2019 $10,259,054 $412,808 $18,784,025 $9,846,246
2018 $1,314,679 $302,092 $7,991,011 $1,012,587
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