2025-11-11T12:28:16+00:00 2024-12-31 350921680 CROWE LLP 5810 TENNYSON PARKWAY Suite 450 Plano TX 750244112 990PF 2024-01-01 756036226 Kimbell Art Foundation KIMB 8173366100 3230 Camp Bowie Boulevard 600 Fort Worth TX 761072746 Brenda Cline CFO, Secr./Treas. 8173366100 2025-11-11 true true Lori McLaughlin P01231707 2147775200 2025-11-11 2024 2025-03-06 01:10:19Z X 3066838454 X 5272732 477411 477411 477411 1195510 1195510 1195510 7637486 12013119 7596618 1060352 1228811 661730 567081 567081 38025675 35913451 38025675 53175895 45182990 41326029 852200 226100 226100 626100 8794044 397569 397569 8396475 2005003 113028 113028 1891975 28239 5348 5348 22891 127849 58465 58465 69384 615615 541560 541560 74055 2970111 0 0 3580788 1925614 1497270 1497270 423000 21805121 15270348 15270348 852931 226955 226955 625976 66456 4521 4521 61935 3090 0 0 3090 7490844 51494 964286 6526558 47537117 18392658 19305450 22302227 9500 9500 47546617 18392658 19305450 22311727 5629278 26790332 22020579 2562569 2027817 2027817 7668889 10379427 10379427 17109 0 43942 17109 17109 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 822185 782339 782339 428213 410989 410989 0 0 0 47980579 53574473 84610603 0 0 740665 70740 46777 669925 670000 160185473 143035906 348526070 192548998 78898317 119708800 113650681 277858000 398052912 434707672 2341556100 737500339 759256338 3066838454 152111 116390 0 0 0 0 0 0 0 18000000 53227074 51389516 53379185 69505906 X 681669772 687123255 2451382 2627177 684121154 689750432 737500339 759256338 684121154 5629278 0 689750432 0 689750432 U.S. EQUITIES P 2023-01-01 2024-12-31 7735614 3494242 4241372 0 4241372 INTERNATIONAL EQUITIES P 2023-01-01 2024-12-31 1553084 0 1553084 0 1553084 OIL & GAS ROYALTIES P 2023-01-01 2024-12-31 674551 0 674551 0 674551 PARTNERSHIP INVESTMENTS P 2023-01-01 2024-12-31 124888 0 124888 0 124888 LEASEHOLD IMPROVEMENTS P 2023-01-01 2024-12-31 0 67999 108346 -40347 0 -40347 EXEMPT FUNCTION ASSETS P 2023-01-01 2024-12-31 1875 53033 72190 -17282 0 -17282 U.S. EQUITIES P 2024-01-01 2024-12-31 729589 780755 -51166 0 -51166 INTERNATIONAL EQUITIES P 2024-01-01 2024-12-31 594446 0 594446 0 594446 OIL & GAS ROYALTIES P 2024-01-01 2024-12-31 552632 0 552632 0 552632 PARTNERSHIP INVESTMENTS P 2024-01-01 2024-12-31 0 35560 -35560 0 -35560 7596618 1060352 372386 0 372386 372386 405939 0 145000 550939 178553 178553 0 false false false 0 0 0 false false true true false true true TX true true false false false true WWW.KIMBELLART.ORG Brenda A Cline 8173366100 3230 Camp Bowie Blvd Suite 600 Fort Worth TX 761072746 false false false false true false false false false false true false false false false false false false false false false false false Brenda A Cline 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 CFO, Secr./Treas. 30.00 452200 45287 15030 Susan R Drake 3333 Camp Bowie Blvd Fort Worth TX 76107 Dep. Dir. Fina./Admin., Asst. Secr./Treas. 35.00 400000 42677 0 Kimberly Williamson Darden 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director 1.00 0 0 Karen Fortson Davis 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director 1.00 0 0 Lisa Wynne Alcorn 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director 1.00 0 0 Stewart R Henderson 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director 2.00 0 0 Lisa Fortson Burton 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director; Vice President 2.00 0 0 Kimbell Fortson Wynne 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director; Vice Chairman, President & CEO 6.00 0 0 Kay C Fortson 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director; Chairman 1.00 0 0 Ben J Fortson (thru May 2024) 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director; Exec. Vice President & CIO 8.00 0 0 Win S Ryan 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Director 2.00 0 0 Eric M Lee 3333 Camp Bowie Blvd Fort Worth TX 76107 Museum Director 35.00 800000 66174 14786 George TM Shackelford 3333 Camp Bowie Blvd Fort Worth TX 76107 Deputy Director 35.00 475000 38933 0 Robert McAn 3333 Camp Bowie Blvd Fort Worth TX 76107 Donor/Member/Spec.Ev 35.00 194000 21757 0 Mark K Rich 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 Dir. of Investments 35.00 300000 40274 0 Amy Grimes 3333 Camp Bowie Blvd Fort Worth TX 76107 HR and Payroll 35.00 150000 29567 0 45 Scott & Reid General Contractors Inc 15207 Addison Rd Addison TX 75001 Construction Management 686431 Northern Trust 50 S LaSalle St Chicago IL 60603 Investment Custody 134744 Loomis Sayles & Company LP One Financial Center Boston MA 02111 Investment Management 126280 Luther King Capital Management 301 Commerce Street Fort Worth TX 76102 Investment Management 114646 Wiss Janney Elstner Associates Inc 6363 N Highway 161 Irving TX 75038 Architectural Engineering 99888 5 (SEE STATEMENT) 59932931 None 0 89607832 2276026 346350540 438234398 0 438234398 6573516 431660882 21583044 X 22311727 0 37131413 0 59443140 1972-03-31 X 21583044 20891963 20091650 17780385 80347042 18345587 17758169 17077902 15113327 68294986 59443140 46245637 32381092 17801502 155871371 9500 34000 60000 209000 312500 59433640 46211637 32321092 17592502 155558871 14388696 13927975 13394433 11853590 53564695 X Fort Worth Symphony Orchestra 330 E 4TH STREET STE 200 FORT WORTH TX 76102 NONE PC Operating Support 3000 Texans For The Arts Foundation PO BOX 4549 AUSTIN TX 78765 NONE PC Operating Support 5000 Van Cliburn Foundation 201 MAIN STE 100 FORT WORTH TX 76102 NONE PC Operating Support 1500 9500 0 14 477411 14 1195510 523000 40868 18 7596618 3 278425 288656 Membership Revenue 2045851 Special Programs and Projects 329869 Conservation Revenue 52429 Other Exempt Revenue 15 54087 Pass-through from Partnership Investments 523000 -481703 14 368516 Mineral Interests - Royalties 15 25446879 Net Profit Interest - Royalties 15 192126 Kimbell Royalty Operating, LLC 523000 111690 15 9905930 -329145 45461415 2770892 47903162 Form Sale of Museum Shop items such as books and other materials which promote interest in various art forms to the general public and buffet food items served for the benefit of museum patrons. Form Revenue from membership, conservation, special programs and projects related to the Foundation's exempt purpose. false false false false false false false false false false X X 1 The Anne H Bass Foundation 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 5000 X 2 Arts Fort Worth 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 36000 X 3 Mrs Mercedes T Bass 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 90000 X 4 BNY Mellon Charitable Gift Fund 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 25000 X 5 Roy H Browning Jr 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 5000 X 6 The Burnett Foundation 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 61628 X 7 Virginia F Clay 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 50000 X 8 Estate of Helen Bloxsom Davis 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 10000 X 9 Fidelity Charitable 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 12500 X 10 Folsom Point Charities 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 10000 X 11 Fort Worth Tourism Public Improvement District 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 36500 X 12 Frost Bank 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 26670 X 13 Nancy Montae Imbt Johnson 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 200000 X 14 Luther King Capital Management 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 10000 X 15 Marlene and Spencer Hays Foundation 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 40000 X 16 Mary Potishman Lard Trust 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 25000 X 17 Dan McRee 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 10000 X 18 North Texas Community Foundation 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 12000 X 19 Gary Putteet 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 6000 X 20 Stastny Folk Art And Crafts Foundation 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 50000 X 21 Brett G Taylor 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 10000 X 22 Texas Commission on the Arts 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 241497 X 23 Ralph and Hester Treese 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 5000 X 24 Vanguard Charitable 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 7000 X 25 Virginia Clay Foundation 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 50000 X 26 Blaine and Jennifer Werner 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 10000 X 27 John and Kathy Nugent 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 100845 X 28 Gwendolyn Weiner 3230 Camp Bowie Blvd STE 600 Fort Worth TX 761072746 4000000 X 27 Investments - Corporate Stock 100845 2024-12-02 28 Undivided 10% interest in and to the limestone sculpture "Head" by Amedeo Modigliani 4000000 2024-08-01 Accounting and Auditing Fees 127849 58465 58465 69384 Land Improvements 12375667 6394615 SL 15.0 781938 0 0 Museum Buildings 122454444 30728405 SL 40.0 3063861 0 0 Building Improvements 39677668 23907789 SL 15.0 2378721 0 0 Leasehold Improvements 223320 0 SL 15.0 10491 0 0 Furniture & Fixtures 6383009 6164673 SL 10.0 42254 0 0 Equipment 2812358 2198470 SL 10.0 116393 0 0 Computer Equipment 3520997 2971398 SL 5.0 141115 0 0 Furniture & Fixtures 229504 26471 SL 7.0 16919 16919 16919 Computer Equipment 14093 6119 SL 5.0 1900 1900 1900 Leasehold Improvements 497068 0 SL 15.0 23544 23544 23544 Oil & Gas Investments 15227985 15227985 15227985 Capital Gains and Losses from Part IV P 11966679 4249029 7596618 121032 Long-term UBTI Pass-through from Partnership Interests 46440 0 46440 0 Short-term UBTI Pass-through from Partnership Interests 0 5572 -5572 0 COLUMN (D) FORM 990-PF, PART I, LINE 17 BOOK / TAX DIFFERENCE: AMORTIZATION OF LOSS ON REFUNDING OF BOND PAYABLE -- $610,677 SUMMARY OF DIRECT CHARITABLE ACTIVITIES FORM 990-PF, PART VIII-A The Kimbell Art Foundation (the "Foundation") is a nonprofit corporation, which was incorporated in Texas in 1936. The Foundation was formed principally for the purpose of founding and maintaining, in the City of Fort Worth, Texas, an art institute to acquire by purchase, exchange, gift, and bequest paintings and other art objects for public exhibition without profit, and to purchase, erect or otherwise acquire suitable sites and structures for such purpose, and thereby to promote the study and appreciation of art. In accordance with this purpose, the Foundation owns and operates the Kimbell Art Museum (the "Museum"), located at 3333 Camp Bowie Boulevard, Fort Worth, Texas, whose permanent collections range in period from antiquity to the 20th century and include European masterpieces by artists such as Fra Angelico, Michelangelo, Caravaggio, Poussin, Velazquez, Monet, Picasso and Matisse; important collections of Egyptian and classical antiquities; and the art of Asia, Africa, and the Ancient Americas. Those collections, as well as special exhibitions, are displayed in the Museum's two buildings: the Kahn Building and the Piano Pavilion, which are each named in recognition of their respective design architects, Louis I. Kahn and Renzo Piano. Special exhibitions in 2024 included Bonnard's Worlds; Art and War in the Renaissance: The Battle of Pavia Tapestries; and Dutch Art in a Global Age: Masterpieces from the Museum of Fine Arts, Boston. The Museum also offers a wide range of educational programs and resources to enrich its visitors' experiences and enhance their understanding, appreciation, and enjoyment of the artworks and architecture on view. Those include, among others, lectures, films, family festivals, workshops, a drop-in studio, art camps, and teacher training, some of which are also available virtually through the Museum website or social media. AMERICAN BEACON 14436755 14122677 DODGE & COX 12486896 20380751 LUTHER KING CAPITAL MANAGEMENT 11815825 17922447 FIDELITY INVESTMENTS (CONSERVATION ENDOWMENT) 793229 1186245 LOOMIS, SAYLES & COMPANY, LP 12089858 29552986 NORTHERN TRUST SECURITIES, INC. 1951910 1445497 LEASEHOLD IMPROVEMENTS 497068 19331 477737 478000 EQUIPMENT 243597 51409 192188 192000 MINERAL INTERESTS- ROYALTIES AT COST 54385868 166633417 NET PROFITS INTEREST - ROYALTIES AT COST 95999 10000000 Kimbell Royalty Operating, LLC AT COST 23234858 83598126 PARTNERSHIP INTERESTS AT COST 54750248 73009548 HEDGE FUNDS AT COST 10021610 14299074 DEFERRED COMPENSATION ASSETS AT COST 547323 985905 LAND 5098500 0 5098500 15990000 BUILDINGS 174507779 67255329 107252450 260570000 LEASEHOLD IMPROVEMENTS 223320 8685 214635 215000 EQUIPMENT 12716364 11634303 1082061 1083000 Other 3035 0 3035 0 Legal Fees 28239 5348 5348 22891 0 FROST BANK NONE 18000000 2024-06 2027-08 INTEREST PAID MONTHLY 5.8713 UNSECURED LINE OF CREDIT PAINTINGS 262265217 294863229 2017226000 SCULPTURES 122690139 126697092 298373000 DRAWINGS & PRINTS 1355529 1355529 4511000 CERAMICS, LACQUERS & MOSAICS 6707836 6707837 12781000 LIBRARY 2696157 2745951 2746000 SCROLLS & SCREENS 2057487 2057487 5639000 SEALS 170000 170000 170000 FRAMES 82447 82447 82000 MEMBERSHIPS 28100 28100 28100 Special Programs and Projects 4010782 0 382299 3628483 Membership Expenses 530493 0 530493 0 Insurance 1003865 0 0 1003865 Repair and Maintenance 1125578 0 0 1125578 Administrative Costs 820126 51494 51494 768632 Membership Revenue 2045851 0 2045851 Special Programs and Projects 329869 0 329869 Conservation Revenue 52430 0 52430 Other Exempt Revenue 54087 0 54087 Pass-through from Partnership Investments -113187 368516 -113187 Mineral Interests - Royalties 25446879 25446879 25446879 Net Profit Interest - Royalties 192126 192126 192126 Kimbell Royalty Operating, LLC 10017620 9905930 10017620 BONDS PAYABLE 53227074 51365207 INVESTMENT PURCHASES PAYABLE 0 24309 Investment Management Fees 541560 541560 541560 0 Other Fees 74055 0 0 74055 Museum Shop 765032 421220 288656 Buffet 520165 240510 278425 Ad Valorem Taxes 390772 390772 390772 0 Production Taxes 1106498 1106498 1106498 0 Federal Excise Taxes 423000 423000 State UBIT 5344 0 0 0