Tampa Museum of Art Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
MAINTAIN AND RAISE FUNDS FOR THE BENEFIT OF THE TAMPA MUSEUM OF ART, INC.
- Income
- $29.7 million
- Spending
- $17.0 million
- Spent on programs
- 98%
- Reserves
- 9.5 months of spending
- Largest source of income
- donations and private grants, 92%
- Employees
- 0
- Volunteers
- 24
- Highest pay
- $407,579, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 93 out of 100. Higher than 74% of charities in its peer group (arts and culture, $10m to $100m).
Reserves
28 of 35Spendable reserves would cover 9.5 months of spending.
Debt
20 of 20It owes 1% of what it owns.
Living within its means
15 of 15Income exceeded spending by 43% of income.
Income trend
15 of 15Income rose 199% on the year before.
Spending floor
15 of 1598% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 34% of charities in its peer group (arts and culture, $10m to $100m).
Independent board
25 of 2523 of 24 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $16.7 million spent. THE TAMPA MUSEUM OF ART FOUNDATION (FOUNDATION) IS A SUPPORT 501C3 ORGANIZATION FOR THE TAMPA MUSEUM OF ART (TMA), A CULTURAL INSTITUTE THAT ADDS MEASURABLE VALUE TO PEOPLE'S LIVES. THE TMA IS A PLACE TO CELEBRATE ICONIC WORKS OF ART IN EXHIBITIONS FEATURING BREAKTHROUGHS IN ARTISTIC DIRECTIONS AND WE ARE A VENUE FOR COMMUNITY FORUMS AND DIALOGUES WITH INTERNATIONALLY RECOGNIZED ART AND SCHOLARS. THE TMA IS ALSO A REPOSITORY OF ART COLLECTIONS FOR CURRENT AND FUTURE GENERATIONS, AS WE PROVIDE STUDIO ART PROGRAMS, SCHOOL FIELD TRIPS FOR STUDENTS AND TOURS FOR ADULTS, AND OFFER OVER SIXTEEN DIFFERENT ART EDUCATION PROGRAMS AND WORKSHOPS FOCUSED ON ANCIENT, MODERN, AND CONTEMPORARY ART. CONTINUED ON SCHEDULE O. THE FOUNDATION SUPPORTS THE TMA IN A VARIETY OF WAYS. THE FOUNDATION BOARD OVERSEES AND MANAGES THE SECURITY OF THE MUSEUM'S ENDOWMENT PORTFOLIO AND THROUGH COMMITTEE ACTION MANAGES THE INVESTMENT MANAGERS (INVESTMENT COMMITTEE), BEQUEST AND TRUST SOLICITATION AND PROGRAM OVERSIGHT (NEW CENTURY LEGACY SOCIETY COMMITTEE) AND LARGE GIFTS AND GRANTS FOR THE ENDOWMENT AND FOR CAPITAL IMPROVEMENT AND GROWTH (CAMPAIGN COMMITTEE). THE NEW CENTURY LEGACY SOCIETY COMMITTEE (NCLS) LAUNCHED AND SUPPORTED A LEGACY PROGRAM FOR THE MUSEUM THAT INCLUDES CONVENING THOSE WHO HAVE PLEDGED LEGACY GIFTS AND THOSE THAT INTEND TO LEAVE A BEQUEST TO THE TMA THROUGH THE FOUNDATION. TO FURTHER THOSE EFFORTS, IN 2023 NEW MARKETING MATERIALS RELATED TO HOW FUNDS DISTRIBUTED FROM THE FOUNDATION TO THE MUSEUM WERE UPDATED IN 2024 AND CONTINUED TO BE USED FOR PUBLIC AND PRIVATE MUSEUM PROGRAMS ALONG WITH RECOGNITIONS AND WELCOMING REMARKS TO THE TMA LEGACY PROGRAM. IN 2024, THE GOAL TO INCREASE THE LEGACY MEMBERSHIP FROM 44 TO 100 BY 2030 WAS LAUNCHED. THE INVESTMENT COMMITTEE MANAGES THE INVESTMENTS AND DISTRIBUTION RECOMMENDATIONS OF THREE FUNDS: "FUND A," WHOSE PRINCIPAL OTHER THAN THREE SMALL DONOR RESTRICTED FUNDS, IS RESTRICTED BY INTERNAL POLICY TO PROTECT THE PRINCIPAL AND PROVIDES FOR AN ANNUAL DISTRIBUTION NOT TO EXCEED 5% OF A FIVE-YEAR ROLLING BALANCE AVERAGE TO TMA, INC. FOR GENERAL OPERATING AND PROGRAM SUPPORT. THE RICHARD E. PERRY CULTURAL ENDOWMENT FUND, THE PRINCIPAL AND INCOME OF WHICH IS RESTRICTED TO SUPPORTING PROGRAMMING AND ADMINISTRATION RELATED TO THE MUSEUM'S LARGE COLLECTION OF ANCIENT ART FROM THE GREEK AND ROMAN EMPIRES, ALSO REQUIRED THE NAMING OF THE CURATOR OF GREEK AND ROMAN ART AS THE RICHARD E. PERRY CURATOR. THE THIRD FUND, MANAGED BY THE FOUNDATION BY AGREEMENT WITH THE TAMPA MUSEUM OF ART, INC., IS THE FLORIDA DIVISION OF CULTURAL AFFAIRS CULTURAL ARTS FUND," DONOR RESTRICTED FUNDS WHOSE PRINCIPAL OF $360,000 FROM THE PERRY FUND IS MATCHED WITH A $240,000 STATE OF FLORIDA CULTURAL ARTS ENDOWMENT FUND. ALL THREE FUNDS COMBINED, THE VALUE OF THE ENDOWMENT PORTFOLIO HAS QUADRUPLED IN TEN YEARS, SINCE 2014 AND CONTINUES TO GROW TO SUSTAIN THE GROWING OPERATIONS OF THE TAMPA MUSEUM OF ART. THE CAMPAIGN COMMITTEE LAUNCHED A FUNDRAISING PROGRAM IN 2019 THAT CONTINUED THROUGH 2024 TO FUND THE REALLOCATION AND REDESIGN OF BACK-OF-THE-HOUSE GROSS SQUARE FEET FOR PUBLICLY ACCESSIBLE PROGRAM SPACE WITH THE INTENTION OF REALIGNING NET SQUARE FEET OF EXISTING SPACE FOR EXHIBITIONS AND EDUCATION PROGRAM ACTIVITIES. WORKING IN TANDEM WITH ALL MEMBERS OF THE TMA BOARD OF TRUSTEES, THE $15,000,000 REALLOCATION OF SPACE FUNDRAISING PROGRAM EXCEEDED ALL EXPECTATIONS AND RENOVATION COMMENCED IN JUNE OF 2021 AND CONTINUED INTO 2024. WHILE THE EDUCATION CENTER AND SIX GALLERIES WERE COMPLETED IN 2023, ONE FINAL ASPECT OF THE RENOVATION PROJECT RELATED TO THE GLASS CURTAIN WALL CONTINUED INTO 2024 AND WAS COMPLETED BY DECEMBER 31, 2024. IN JUNE OF 2024, BECK CONSTRUCTION WAS HIRED TO WORK WITH ARCHITECTS WIESS MANFREDI TO BEGIN EXPENSING OUT THE EXPANSION PROJECT GIVEN A FIRST ROUND OF VALUE ENGINEERED COMPONENTS WERE INTEGRATED INTO THE COMPLETED CONSTRUCTION DOCUMENTS FOR A 51,000 SQUARE FOOT EXPANSION WHILE THE RENOVATION DETAILS WERE COMPLETED. IN ADDITION IN 2024, AND NOTED IN 2023, THROUGH REIMBURSEMENT TO THE TMA, INC., THE CAMPAIGN COMMITTEE DECIDED TO FUND A FULL-TIME CAMPAIGN DIRECTOR, CAMPAIGN MANAGER AND PROVIDE PARTIAL SUPPORT OF THE CAMPAIGN EFFORTS MANAGED BY THE EXECUTIVE DIRECTOR. IN ADDITION, FUNDS RAISED BY THE CAMPAIGN CONTINUE TO DIRECTLY FUND CAMPAIGN AND MARKETING CONSULTANTS AND IN 2024, THE FOUNDATION LAUNCHED AN RFP FOR A REBRANDING AGENCY TO RECONSIDER THE MUSEUM IN TERMS OF ITS RENOVATION AND EXPANSION AS PART OF THE CAMPAIGN. ONE WILL NOTE THAT WITH THE FULL COMPLETION OF ALL ASPECTS OF THE RENOVATION, THE FULL HARD AND SOFT COST EXPENSES OF THE RENOVATION CONSTRUCTION IN PROGRESS WERE TRANSFERRED FROM THE TMA FOUNDATION, THE CAMPAIGN FUNDRAISING ARM OF THE MUSEUM, TO THE TMA, INC., THE OPERATIONS AND LEASEHOLD CORPORATION FOR THE BUILDING AND GROUNDS. THE RELEASE OF THE REVENUE AND EXPENSES OF THOSE OPERATIONS ARE REFLECTED IN THIS 2024 990. AS THE CAMPAIGN COMMITTEE CONTINUES TO RAISE FUNDS FOR EXPANSION, ONE WILL NOTE THAT THE CONSTRUCTION IN PROGRESS CONTINUES TO GROW. THERE IS AN ANTICIPATED GROUND BREAKING ON THE EXPANSION SITE REDEVELOPMENT SCHEDULED FOR 2026. ALTHOUGH THE FOUNDATION WAS A FLEDGLING OF ONLY 26 YEARS OLD IN 2024 (HAVING BEEN INCORPORATED IN 1998) IN COMPARISON TO THE 104-YEAR-OLD TMA, ITS DISTRIBUTIONS OF FUNDS IN 2024 HELPED SUPPORT ALL MUSEUM OPERATIONS AND PROGRAMMING AS SCHEDULED. THE FOLLOWING IS A SNAPSHOT OF THE 2024 ACTIVITIES SUPPORTED IN PART BY THE FOUNDATION. AT THE END OF 2024, THE TAMPA MUSEUM OF ART'S PERMANENT COLLECTION COMPRISED OVER 8,000 OBJECTS, 494 RECEIVED IN THIS CALENDAR YEAR. THE MUSEUM COLLECTS CLASSICAL ANTIQUITIES (929 OBJECTS), 19TH-CENTURY PHOTOGRAPHY AND PRINTS EMPHASIZING WORKS THAT RELATE TO THE CLASSICAL COLLECTION (APPROXIMATELY 1,300 OBJECTS), MODERN AND CONTEMPORARY ART IN A VARIETY OF MEDIA (OVER 7,000 OBJECTS), WITH AN EMPHASIS ON PHOTOGRAPHY, ART CREATED AFTER 1970, AND NEW MEDIA. WITHIN THOSE TOTALS, THE F
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 1999.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.