MADI World Art Foundation

EIN: 752950156 501(c)(3)

Dallas, TX

Total Revenue
$138,334
Total Expenses
$122,372
Total Assets
$1,302,555
Net Assets
$1,302,555
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
TX
Principal Officer
William Irwin
Phone
2148557802
Tax Period
2020-01-01 to 2020-12-31

MADI World Art Foundation, founded in 2002, is a small nonprofit that reported $138K in total revenue in fiscal year 2020. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $122K left a modest 12% surplus.

Mission

Mission is to exhibit MADI and related styles of 20th and 21st century geometric art. This art is abstract, geometric, hard-edged, and often has kinetic or optical features. The Museum has a permanent collection and holds four temporary exhibits yearly, some of international and others of regional artists. Six to eight Arcadia Salon

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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 (2020)

Revenue Breakdown

Contributions & Grants $134,131
Program Service Revenue $4,203
Investment Income $0
Other Revenue $0
TOTAL REVENUE $138,334

Expense Breakdown

Grants Paid $0
Salaries & Benefits $39,224
Fundraising Expenses $1,811
Program Expenses $111,340
Other Expenses $83,148
TOTAL EXPENSES $122,372

Year-over-Year Comparison

2020 2019 Change
Revenue $138,334 $345,509 -0.6%
Expenses $122,372 $175,549 -0.3%
Net Income $15,962 $169,960 -0.9%
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
10
Employees
2
Volunteers
11

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
0
$0
Total Directors
14
$0
Key Employees
1
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Andrew Chooljian President 2.00
Director
$0 $0 $0
Evan Stone Vice President Gala Committee 2.00
Director
$0 $0 $0
Wilmer D Masterson Secretary/Bldg Committee 2.00
Director
$0 $0 $0
Willian Irwin Treasurer 2.00
Director
$0 $0 $0
Phillip Collins Nominating Committee 1.00
Director
$0 $0 $0
Ruth Anderson Membership & Exhibtion Comm. 1.00
Director
$0 $0 $0
Sylvia Cespedes Committee 2.00
Director
$0 $0 $0
Laurel Chooljian Co Chair Gala Committee 2.00
Director
$0 $0 $0
Michael Tichansky Exhibits/Shows 2.00
Director
$0 $0 $0
Stuart Gleichenhaus Exhibition Committee 2.00
Director
$0 $0 $0
Dorothy Masterson Museum Director 40.00
Key Emp
$0 $0 $0
Maria-Cristina Jarmillo Exhibition Committee 2.00
Director
$0 $0 $0
Pam Pluss Membership Committee 2.00
Director
$0 $0 $0
Albert Shaw Gala Committee 2.00
Director
$0 $0 $0
Kathleen Wadkins Young Professionals Committee 2.00
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
2020 $138,334 $122,372 $1,302,555 $15,962
2019 $345,509 $175,549 $1,286,593 $169,960
2018 $216,895 $163,447 $1,116,633 $53,448
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