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Virginia Museum of FINE Arts Foundation

Public charity990-T FY2023
DBA: % VIRG
Other · RICHMOND, VA · EIN 51-0205333

About

The mission of the virginia museum of FINE arts foundation is to support the virginia museum of FINE arts through a comprehensive fundraising and donor cultivation program and the investment and management of private assets. This support enhances the ability of the 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.

In care of VIRG

Donations are tax-deductible
Category
Other
Employees
35
Volunteers
140

Financial Snapshot

FY ending 2024-06-30
Revenue
$34.2M
Expenses
$39.3M
Assets
$337.2M
Liabilities
$49.9M

Financial history

$55.0M$27.5M$0
161718192021222324
RevenueExpenses
Latest FY2024: $34.2M · Peak FY2022: $55.0M · Avg: $33.1M

Foreign activity (Schedule F)

Total spent abroad$101.8M
Foreign employees0
Foreign offices0
Foreign partnership interestYes
Foreign trust interestNo
RegionActivitySpent
Central America and the Caribbean
Europe (Including Iceland and Greenland)

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
Lobbying
$24K
Grants Given
$32.0M
VIRGINIA MUSEUM OF FINE ARTS FOUNDATION
Your actions

Address

200 N Arthur ASHE BLVD
Richmond, VA, 23220-400

Governance

Voting board members33
Independent members33
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardYes

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planYes
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo

Financial detail (Schedule D)

Board-designated %5.5%
Permanent endowment %94.5%
Endowment held by related orgNo
Public records
ProPublica Nonprofit Explorer
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IRS Tax Exempt Organization Search
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