Walker Art Center

85° FPartly CloudyVia Yahoo! Weather

The Hold Steady headlined Rock the Garden 2012, which drew an audience of 11,000 to the Walker for the summer’s much-anticipated music fest

Financial Statement

Walker Art Center
Condensed Statement of Financial Position
June 30, 2012

Assets

Cash and cash equivalents$14,968,844
Investments1,476,359
Receivable for investments with settlements pending138,281
Investments held by others141,862,672
Beneficial interest in trust21,174,378
Receivables3,655,768
Inventories563,510
Prepaid expenses223,398
Property, plant, and equipment (net of depreciation)64,793,831
Total assets$248,857,041

Liabilities and Net Assets

Payables$1,992,345
Deferred charge123,454
Unearned income407,248
Deferred rent621,592
Special assessment liability5,565,372
Asset retirement obligation572,855
Note payable1,327,000$10,609,866
Net assets
UnrestrictedBoard-designated endowment28,792,946
 Property, plant, equipment55,950,985
 Operations275,13385,019,064
Temporarily restricted81,024,708
Permanently restricted72,203,403
Total liabilities and net assets$248,857,041

The condensed statement of operations and the condensed statement of financial position are derived from the financial statements of the Walker Art Center as of June 30, 2012, which have been audited by KPMG LLP. The statement of operations does not include receipts and disbursements of funds for the acquisition of works of art, and the statement of financial position does not include the value of the museum’s collection. A complete set of the Walker’s audited financial statements for 2011–2012 is available upon request.

Mary M. Polta, CFO and Treasurer


Walker Art Center
Condensed Statement of Operations
June 30, 2012

Revenue

Program-earned Income
Exhibitions$504,238
Education56,785
Performing Arts242,581
Film/Video251,708
Rock the Garden721,601
Museum Admissions, Walker Shop, Food Service/Facility Rental, Other2,348,386
Contributions, including net assets released8,081,386
Endowment Draw6,025,550
Total Revenue$18,232,235

Expense

Programs
Exhibitions$4,162,375
Education1,483,677
Performing Arts1,791,807
Film/Video851,576
New Media Initiatives524,255
Open Field206,843
Rock the Garden689,441
Walker Shop, Food Service/Facility Rental1,356,514
Fund-raising/Membership1,214,712
Administration3,688,068
Building Operations2,253,619
Total Expense$18,222,887
Net Income from Operations$9,348

2011–2012
Income $18,232,235


2011–2012
Expense $18,222,887