Grand Rapids Art Museum Foundation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 665,788 | 103,017 | 562,771 | 2487.5 | 0% |
| 2021 | 1,462,954 | 93,122 | 1,369,832 | 3376.7 | 0% |
| 2022 | 953,673 | 979,027 | −25,354 | 260.1 | 0% |
| 2023 | 798,932 | 1,079,053 | −280,121 | 255.6 | 0% |
In its most recent public year (2023), this organization spent $280,121 more than it brought in. Its reserves stood at about 255.6 months of spending, down from 2487.5 in 2020. Staff pay was 0% of spending. $21,539,539 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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