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DENVER ART MUSEUM INC
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100 W 14th Avenue Pkwy
Denver,
CO
80204
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GENERAL INFORMATION
Who We Are
The Denver Art Museum is a collection of works of art in permanent and temporary exhibitions that serve to enhance the public's awareness and appreciation of the visual arts.
- This organization is a 501(c)(3)
Public Charity
.
- This organization is required to file an IRS Form 990 or 990-EZ.
- Financial information in this report is derived from the organization's September 30, 2008
Form 990.
- Additional narrative information in this report was last supplied by the organization on August 26, 2005.
- Contributions are deductible, as provided by law.
| EIN: |
84-6038240 |
| Year Founded: |
|
| Ruling Year: |
1935 |
| Fiscal Year: |
September 30, 2008
|
| Assets: |
$43,734,425 (from Sep 30, 2008 Form 990) |
| No. of Board Members: |
Information not available |
| No. of Full-Time Employees: |
0 |
| No. of Part-Time Employees: |
0 |
| No. of Volunteers: |
0 |
BOARD OF DIRECTORS
Name |
Title |
| Lewis Sharp |
Director |
| Rich Rutledge |
Director Bldng Ops |
| Judy Witthohn |
Deputy Director & CFO |
| Victoria Sterling |
Chief of Staff |
| J Landis Martin |
Treasurer |
| Trygve E Myhren |
Trustee |
| Cortandt S Dietler |
Trustee |
| Scott Reiman |
Trustee |
| Richard D McCormick |
Trustee |
| Thomas W Honig |
Trustee |
| Kathryn A Paul |
Trustee |
| Thomas A Petrie |
Trustee |
| James F Williams II |
Trustee |
| Richard L Robinson |
Trustee |
| James A Holmes |
Trustee |
| Frederic C Hamilton |
Chairman |
| Peter H Dominick Jr |
Trustee |
| Nancy Lake Benson |
Trustee |
| Mariner Kemper |
Trustee |
| Cathey M Finlon |
Trustee |
| James P Kelley |
Trustee |
| John J Sie |
Trustee |
| William Armstrong |
Trustee |
| Arlene Hirschfeld |
Trustee |
| Kent Logan |
Trustee |
| Craig Ponzio |
Trustee |
| Jana Bartlit |
Trustee |
| John W Hickenlooper |
Honorary Trustee |
| Robert S Rich |
Secretary |
| Sarah A Hunt |
Trustee |
| William B Pauls |
Trustee |
| B Grady Durham |
Trustee |
| Suzanne Farver |
Trustee |
| Roger Parker |
Trustee |
| Wayne W Murdy |
Trustee |
| Theresa E Romero |
Trustee |
| Daniel W Yohannes |
Trustee |
| Ron Cooper |
Trustee |
| Charles P Gallagher |
Vice Chairman |
| Michael Duncan |
Trustee |
MISSION AND PROGRAMS
Mission
The primary mission of the Denver Art Museum is to build and enhance the public's awareness of and appreciation for the visual and related arts through the acquisition, preservation, and presentation of art works in both permanent collections and temporary exhibitions, and by supporting these works with exemplary educational and scholarly programs.
Programs
Exhibitions and Collections & Collections Management - Two major exhibitions were on view during the year: Bonnard and Sargent & Italy. Bonnard was organized by the museum in conjunction with the Phillips Collection in Washington, D.C.
Education Programs - Programs interpreting exhibition and the permanent collection were presented throughout the year, including family, school and teacher, adult and community outreach, as well as theme tours in the galleries.
GOALS AND RESULTS
Accomplishments for Fiscal Year Ending August 31, 2005
- Exhibitions and Collections & Collections Management - 383,485 people visited the Denver Art Museum's special exhibitions and permanent collection during the fiscal year ended September 30, 2003. Membership totaled 32,069 households, businesses, and other entities during this period.
- Education Programs - The Denver Art Museum has been recognized as the most "family friendly" museum in the U.S. Our current programs continue to be updated, and the museum will introduce new programs in 2006 when our expansion project is completed.
Objectives for Fiscal Year Beginning September 1, 2005
- The Denver Art Museum will celebrate the opening of the addition of the Frederic C. Hamilton Building, a geometric explosion of glass and titanium designed by Daniel Libeskind. The 146,000-square-foot Hamilton Building will nearly double the size of the museum. It will house several collections that have never been on permanent display. Three new state-of-the-art special exhibition galleries will allow the museum to bring unprecedented exhibitions to the region. When it opens in fall of 2006, it will be an internationally significant work of architecture and a signature landmark for the city of Denver.
FINANCIAL DATA
Revenues and Expenses: Fiscal Year Ending September 30, 2008
| REVENUE |
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| Contributions |
$19,368,795 |
| Government Grants |
$7,883,681 |
| Program Services |
$5,546,296 |
| Investments |
$627,558 |
| Special Events |
$0 |
| Sales |
$1,000,700 |
| Other |
$6,647,802 |
| Total Revenue |
$41,074,832 |
| EXPENSES |
|
| Program Services |
$30,087,130 |
| Administration |
$5,076,073 |
| Other |
$1,531,401 |
| Total Expenses |
$36,694,604 |
| Net Gain/Loss |
$4,380,228 |
Balance Sheet: Fiscal Year Ending September 30, 2008
Note: The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot long survive, but the types of assets and liabilities also must be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
| ASSETS |
October 1, 2007 |
September 30, 2008 |
Change |
| Cash & Equivalent |
$4,216,638 |
$1,772,451 |
($2,444,187) |
| Accounts Receivable |
$283,979 |
$164,778 |
($119,201) |
| Pledges & Grants Receivable |
$17,900,599 |
$16,731,326 |
($1,169,273) |
| Receivable / Other |
$476,590 |
$476,590 |
$0 |
| Inventories for Sale of Use |
$615,025 |
$428,262 |
($186,763) |
| Investment/Securities |
$4,889,324 |
$7,111,829 |
$2,222,505 |
| Investment/Other |
$0 |
$0 |
$0 |
| Fixed Assets |
$16,844,782 |
$15,093,612 |
($1,751,170) |
| Other |
$4,419,239 |
$1,955,577 |
($2,463,662) |
| Total Assets |
$49,646,176 |
$43,734,425 |
($5,911,751) |
| LIABILITIES |
October 1, 2007 |
September 30, 2008 |
Change |
| Accounts Payable |
$3,603,812 |
$3,447,940 |
($155,872) |
| Grants Payable |
$0 |
$0 |
$0 |
| Deferred Revenue |
$1,449,628 |
$441,892 |
($1,007,736) |
| Loans and Notes |
$3,920,000 |
$2,706,530 |
($1,213,470) |
| Tax-Exempt Bond Liabilities |
$13,860,000 |
$7,547,746 |
($6,312,254) |
| Other |
$0 |
$1,500,000 |
$1,500,000 |
| Total Liabilities |
$22,833,440 |
$15,644,108 |
($7,189,332) |
| FUND BALANCE |
$26,812,736 |
$28,090,317 |
$1,277,581 |
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