Overview
What is The William A Farnsworth Library And Art Museum Inc?
The William A Farnsworth Library and Art Museum Inc, established in 1948 following a bequest from Lucy A. Farnsworth, is a distinguished nonprofit located in Rockland, Maine. This institution serves as a significant repository for American art, showcasing masterpieces from renowned artists such as Winslow Homer, George Bellows, and Louise Nevelson. The museum's primary mission is to celebrate Maine's historical and ongoing influence on American art. To achieve this, it offers a wide array of services to the public, including diverse collections, exhibitions, educational programs, and retail opportunities.
Official website here: www.farnsworthmuseum.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The William A Farnsworth Library And Art Museum Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. This strong rating indicates that the organization effectively manages its financial resources and demonstrates transparency in its operations, which is crucial for maintaining donor trust.
Strengths of the organization include a fully independent board and robust financial practices, as evidenced by perfect scores in several governance categories. The museum also has a solid program expense ratio, indicating that a significant portion of its funds is directed toward its mission-related activities. Additionally, the organization has established policies for conflict of interest, whistleblower protections, and document retention, further enhancing its accountability.
However, there is a noted area for improvement in fundraising efficiency, with a ratio of $0.27. This suggests that while the organization is effective in its financial management, it may need to optimize its fundraising strategies to ensure that a larger portion of contributions goes towards its programs rather than fundraising costs. Overall, the William A Farnsworth Library And Art Museum Inc stands out for its strong governance and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is The William A Farnsworth Library And Art Museum Inc legitimate?
The William A Farnsworth Library And Art Museum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The William A Farnsworth Library And Art Museum Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $401,740
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,046,570
For more financial information, click here
Official website here: www.farnsworthmuseum.org
What is the mission statement of The William A Farnsworth Library And Art Museum Inc?
The William A. Farnsworth Library and Art Museum's mission is centered around celebrating Maine's significant contribution to American art. To achieve this, the museum offers a comprehensive range of collections, exhibitions, educational programs, and retail services to the public. The institution's extensive collection features notable works from artists such as Winslow Homer, George Bellows, Rockwell Kent, Edward Hopper, Marsden Hartley, John Marin, and Louise Nevelson, among others. The Farnsworth Museum has amassed one of the most significant collections in the nation that highlights Maine's historical and ongoing role in the narrative of American art.
Official website here: www.farnsworthmuseum.org
Who is the CEO of The William A Farnsworth Library And Art Museum Inc?
Christopher Brownawell is the President of The William A Farnsworth Library And Art Museum Inc.
Official website here: www.farnsworthmuseum.org
What is the revenue of The William A Farnsworth Library And Art Museum Inc?
The William A Farnsworth Library And Art Museum Inc's revenue in 2022 was $6,635,106.
Official website here: www.farnsworthmuseum.org
Who are the executives of The William A Farnsworth Library And Art Museum Inc and what are their salaries?
The average compensation at The William A Farnsworth Library And Art Museum Inc during 2022 was $40,805. There are 60 employees and 45 volunteers at The William A Farnsworth Library And Art Museum Inc.
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Official website here: www.farnsworthmuseum.org
Where can I find the form 990 for The William A Farnsworth Library And Art Museum Inc?
The William A Farnsworth Library And Art Museum Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.farnsworthmuseum.org
Learn more at the official website: www.farnsworthmuseum.org
Mission Statement of The William A Farnsworth Library And Art Museum Inc
The William A. Farnsworth Library and Art Museum Inc's mission is centered around celebrating Maine's significant role in the American art scene. To achieve this goal, the museum offers a wide range of services to the public, including an extensive collection of artworks, engaging exhibitions, educational programs, and retail offerings. By providing these resources, the museum aims to share and celebrate Maine's historical and ongoing influence in the narrative of American art.
The museum's collection boasts a variety of works from renowned artists, such as Winslow Homer, George Bellows, Rockwell Kent, Edward Hopper, Marsden Hartley, John Marin, and Louise Nevelson. This comprehensive collection serves as a testament to Maine's enduring impact on American art, making the Farnsworth Art Museum a valuable asset for art enthusiasts and scholars alike. Beyond its collection, the museum also hosts exhibitions that showcase the artistic talents of both established and emerging artists, providing a platform for the continued evolution of American art.
In addition to its collection and exhibitions, the museum also offers educational programs and retail services to the general public. Through these offerings, the museum strives to engage and inspire individuals of all ages, fostering a deeper appreciation for the rich tapestry of American art and its connection to Maine. By providing these diverse services, the William A. Farnsworth Library and Art Museum Inc achieves its mission of celebrating Maine's role in American art, making it an essential cultural institution.
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Impact
July, 2024
The William A. Farnsworth Library and Art Museum celebrates Maine's significant role in American art by providing an extensive offering of collections, exhibitions, education, and retail services to the general public. The museum, located in Rockland, Maine, houses a superb collection of American art, including works by renowned artists such as Winslow Homer, George Bellows, Edward Hopper, and others. Through its collection, exhibitions, and educational programs, the Farnsworth Art Museum preserves and promotes Maine's artistic heritage, contributing to the enrichment and appreciation of American art history.
This information is meant to be a general summary of The William A Farnsworth Library And Art Museum Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $599,036
- Program Service Revenue: $2,645,361
- Gross Receipts: $11,469,653
Assets and Liabilities:
- Total Assets: $34,202,872
- Total Liabilities: $274,571
- Net Assets: $33,928,301
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ACCESSIONS OF COLLECTIONS
Revenue
$2,148,205
ADMISSIONS
Revenue
$452,162
FEES FOR ART CLASSES
Revenue
$44,994
Organization Details
Founding Year
1987
Phone
(207) 596-6457Principal Officer
Christopher Brownawell
Main Address
356 MAIN STREET, ROCKLAND, ME, 04841
Website
www.farnsworthmuseum.orgNTEE Category
Code: A510 - Arts
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