2024-11-14T16:04:36-06:00 2023-12-31 BRUCE E BERNSTIEN & ASSOCIATES 10440 N CENTRAL EXPRESSWAY STE 1040 DALLAS TX 75231 990 2023-01-01 756036753 Foundation for the arts % KAREN BLACK FOUN 2149221213 1717 N HARWOOD st dallas TX 75201 CULLUM CLARK PRESIDENT 2149431514 2024-05-15 true true BRUCE E BERNSTIEN P01424343 2147060840 2023 2024-10-15 13:58:12Z CULLUM CLARK 1717 N HARWOOD st dallas TX 75201 18662459 false X N/A X 1963 TX ACQUIRE ART FOR THE DALLAS MUSEUM OF ART 8 8 0 8 0 0 0 0 0 1058188 2329855 0 0 1058188 2329855 0 0 0 0 0 0 0 0 0 209942 2510724 209942 2510724 848246 -180869 27919291 29738296 57493 62564 27861798 29675732 ACQUIRE ART FOR THE DALLAS MUSEUM OF ART false false 2300000 ACQUIRE ART FOR THE DALLAS MUSEUM OF ART AND THE CITIZENS OF DALLAS 0 2300000 true false false false false false false true false true false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 8 8 false false false false false false false true false false false true false false false false false false X KAREN BLACK 2149221213 1717 N HARWOOD dallas TX 75201 X MARY MCDERMOTT COOK VICE PRESIDENT 0.1 0.0 X X 0 0 0 Lizzie Routman DIRECTOR 0.1 0.0 X 0 0 0 THOMAS CAMPBELL Director 0.2 0.0 X 0 0 0 CULLUM CLARK president 0.1 0.0 X X 0 0 0 allison smith Director 0.1 0.0 X 0 0 0 TOM LENTZ DIRECTOR 0.1 0.0 X 0 0 0 Dan Boeckman Treasurer 0.1 0.0 X X 0 0 0 Hamilton Lee Secretary 0.1 0.0 X X 0 0 0 0 0 0 0 false false false 0 0 0 694502 694502 0 0 0 0 0 17967957 16332604 1635353 1635353 1635353 0 0 0 0 0 0 0 0 0 0 2329855 2329855 0 0 0 0 0 0 0 0 0 0 0 0 46075 46075 0 0 164649 164649 0 0 0 0 0 0 0 0 0 0 0 0 0 ART ACQUISITIONS 2300000 2300000 2510724 2300000 210724 0 0 0 2807136 759705 0 0 27231 22197 0 0 0 0 0 0 0 0 0 0 0 0 25084924 28956394 0 0 0 0 0 0 0 0 27919291 29738296 57493 62564 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 57493 62564 X 1391818 1663652 26469980 28012080 27861798 29675732 27919291 29738296 -180869 1994803 X false true X true false X X 1 DALLAS MUSEUM OF ART 750808774 7 false 0 0 1 false false false false false false false false false false false false false false false true true true X true true how the supported organization is designaged Form 990, SCHEDULE A, part iv, section a, line 1: FOUNDATION FOR THE ART HAS A HISTORIC AND CONTINUING RELATIONSHIP WITH THE DALLAS MUSEUM OF ART. THIS RELATIONSHIP IS OUTLINED IN AN AGREEMENT BETWEEN THE ORGANIZATIONS DATED APRIL 3, 1963. THE DALLAS MUSEUM OF ART IS THE SOLE SUPPORTED ORGANIZATION OF THE FOUNDATION FOR THE ARTS. description of the role the organization's supported organization played FORM 990, SCHEDULE A, SECTION d, LINE 3: three of the board members of the supported organization are also the board members of foundation for the arts. These board members have a significant voice regarding the investment policies and in directing the use of the assets of foundation for the arts. EXEMPT PURPOSE OF FOUNDATION FOR THE ARTs FORM 990, SCHEDULE A, SECTION E, LINE 2A: FOUNDATION FOR THE ARTS' PURPOSE IS TO ACQUIRE AND OWN PAINTINGS, SCULPTURES AND OTHER WORKS OF ART, AND TO EXHIBIT THEM TO THE PUBLIC. THIS IS THE SAME PURPOSE AS THE DALLAS MUSEUM OF ART WHICH THE FOUNDATION FOR THE ARTS SUPPORTS. REASONS FOR THE ORG'S SUPPORTED ORG ENGAgED IN ACTIVITIES BUT FOR ORG'S involvement FORM 990, SCHEDULE A, SECTION E, LINE 2B: PURSUANT TO THE MISSION STATEMENT ADOPTED BY THE DALLAS MUSEUM OF ART, ONE OF THE MISSIONS OF THE MUSEUM IS TO DISPLAY ART TO THE PUBLIC. IF THE FOUNDATION FOR THE ARTS DOES NOT PERFORM ITS FUNCTION TO ACQUIRE WORKS OF ART, THE DALLAS MUSEUM OF ART WOULD ENGAGE IN THOSE ACTIVITIES OF THE FOUNDATION THEMSELVES. X X X X false 1160480 236993 1920 1395553 1393396 -231495 1421 1160480 1204288 190441 1333 1393396 1051648 153958 1318 1204288 854807 213869 15863 1165 1051648 1.00000 false false 0 0 X 4160009 1994803 1994803 2165206 164649 164649 2329855 2346075 2346075 164649 164649 2510724 footnote of financial statements that describe works of art FORM 990, SCHEDULE D, PART III, LINE 1a: The Foundation accounts for artistic and historic items as collection items if they meet the definition of a collection. The criteria states that to be a collection, the assets are (1) held for public exhibition, (2) protected and preserved, and (3) are subject to an organizational policy that requires proceeds from the sale of artifacts to be used to acquire other items for collections absent any donor-imposed restrictions or for the direct care of existing collections. The Foundation defines direct care of collections as any activity that involves the protection and preservation of the collection. Collections acquired either through purchase or donations are not capitalized, and therefore are not reported as assets in the accompanying statements of financial position (see Note 7). The Foundation made one purchase of artwork in 2023 for $2,300,000 and made no purchases of artwork in 2022. The Foundation received one donation of artwork in 2023 that was not recorded in the accompanying financial statements based on the donated artwork meeting the definition of a collection item. No donated artwork was received in 2022. A DESCRIPTION OF FOUNDATION FOR THE ARTS' COLLECTIONS FORM 990, SCHEDULE D, PART III, LINE 4: THE FOUNDATION'S COLLECTION IS MADE UP OF NUMEROUS AND VARIOUS WORKS OF ART. PURSUANT TO A CONTRACT BETWEEN THE FOUNDATION AND THE MUSEUM, ALL ART OWNED BY THE FOUNDATION IS FOR THE SOLE USE OF THE MUSEUM SO LONG AS THE MUSEUM COMPLIES WITH THE CONTRACT. THE MUSEUM IS RESPONSIBLE FOR IMPLEMENTING PROCEDURES THAT REQUIRE EACH ITEM IN THE COLLECTION TO BE CATALOGED, PRESERVED AND CARED FOR, AND THE MUSEUM STAFF REGULARLY PERFORMS ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION. THE MUSEUM IS ALSO RESPONSIBLE FOR PURCHASING ADEQUATE INSURANCE ON THE COLLECTION. THE COLLECTION IS SUBJECT TO A POLICY THAT PROCEEDS FROM SALES OF WORKS OF ART MUST BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTION OR FOR THE DIRECT CARE OF THE EXISTING COLLECTION. THE FOUNDATION DEFINES DIRECT CARE OF COLLECTIONS AS ANY ACTIVITY THAT INVOLVES THE PROTECTION AND PRESERVATION OF THE COLLECTION. FIN 48 (ASC 740) PART X, LINE 2: The foundation has been classified as an entity that is exempt from income taxes under section 501 (c)(3) of the internal revenue code and is not considered a private foundation within the meaning of section 509(a)(3). the foundation is also exempt from state income taxes. Accordingly, no provision has been made for federal income or state franchise taxes in the accompanying financial statements. intended use of the organization's endowment funds FORM 990, SCHEDULE D, PART v, line 4: The intended uses of the endowment funds is for the acquisition of works of art. REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11: THE PRESIDENT AND SECRETARY OF THE ORGANIZATION REVIEW THE 990 IN DETAIL BEFORE FILING. THE ORGANIZATION MADE ITS DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART VI, SECTION C, LINE 19: The organization's financial statements, the articles of incorporation and other governing documents are made available to the public upon request. DALLAS MUSEUM OF ART 1717 NORTH HARWOOD st DALLAS TX 75201 750808774 MUSEUM TX 501(C)(3) 7 NA false false false false false false false false false false false false false true false false false false false false