Virginia Museum of Fine Arts Foundation
Virginia Museum of Fine Arts Foundation
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About this organization
Mission
The Virginia Museum of Fine Arts is a state agency and a privately endowed educational institution created for the citizens of Virginia. Its purpose is to collect, preserve, exhibit, and interpret the art of world cultures from all periods of history, to encourage the study of the arts, and to enrich lives. The VMFA Foundation exists solely to support the activities of VMFA and to manage assets held in trust. Support includes transfers to the museum and direct expenditures to further VMFA's mission.
About
Over the past year the foundation has managed the private institutional advancement program for the Virginia Museum of Fine Arts, an agency of the Commonwealth of Virginia. The results of those fund raising efforts are reflected in the data listed on this return. In addition, endowments held in trust by the foundation for the benefit of the museum have been invested, the managers evaluated, the investment policy reviewed, and funds distributed in accordance with donor intent.
Interesting data from their 2020 990 filing
The non-profit's mission is outlined in the filing as being “The mission of the virginia museum of fine arts foundation is to support the virginia museum of fine arts through a comprehensive fund raising and donor cultivation program and the investment and management of private assets. this support enhances the ability of the virginia museum of fine arts to collect, preserve, exhibit, and interpret art, and encourage the study of the arts, and thus enrich the lives of the citizens of the commonwealth of virginia.”.
When detailing its duties, they were outlined as: “The virginia museum of fine arts foundation (foundation) was founded in 1976 to support the virginia museum of fine arts (museum), an agency of the commonwealth of virginia. to accomplish its mission, the foundation administers a comprehensive fund raising program, invests private assets such as endowments, and owns and maintains pieces of real estate used by the museum for program and administrative functions. all such activities are undertaken at the request of the museum's board of trustees.”.
- The state in which the non-profit operates has been officially reported as VA.
- The filing reveals the non-profit's address in 2020 to be 201 N BOULEVARD, RICHMOND, VA, 232204007.
- The non-profit's form for the year 2020 reports a total of 35 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$16,970,894.
- The organization has 34 independent voting members.
- The organization was formed in 1976.
- The organization pays $2,449,512 in salary, compensation, and benefits to its employees.
- The organization pays $1,010,507 in fundraising expenses.
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