Skip to content
Nonprofiteer
← MUSEUM CENTER PARK INC

Form 990 for tax year 2022

Filed by MUSEUM CENTER PARK INC.

Totals

Total revenue
$1,913,369
Total expenses
$1,914,517
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,772,878
Investment income
$0
Other revenue
$140,491
Total assets, end of year
$13,487,413
Total liabilities, end of year
$1,990,821
Net assets or fund balances, end of year
$11,496,592
Program services expenses (Part IX)
$1,912,248
Management and general expenses
$2,269
Fundraising expenses
$0
Program service expenses (Part III)
$1,912,248

Program services were 99.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PARKING FEES

    total $1,772,878 · related or exempt $1,772,878

  • 6a · Gross rents

    real property $247,807

  • 6b · Less rental expenses

    real property $107,316

  • 6c · Rental income or loss

    real property $140,491

  • 6d · Net rental income or loss

    total $140,491 · related or exempt -$3,361 · excluded $143,852

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $367,802 · program services $365,533 · management and general $2,269

  • 11b · Fees: legal

    total $27,748 · program services $27,748

  • 11c · Fees: accounting

    total $6,600 · program services $6,600

  • 11g · Fees: other

    total $4,946 · program services $4,946

  • 16 · Occupancy

    total $509,958 · program services $509,958

  • 20 · Interest

    total $52,902 · program services $52,902

  • 22 · Depreciation, depletion and amortization

    total $888,913 · program services $888,913

  • 23 · Insurance

    total $36,589 · program services $36,589

  • 24a · Other expenses: SUPPLIES

    total $19,059 · program services $19,059

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $316,605 · end of year $365,214

  • 4 · Accounts receivable

    beginning of year $158,226 · end of year $199,141

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,291 · end of year $10,686

  • 10a · Land, buildings and equipment: cost or other basis

    $17,282,622

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,370,250

  • 10c · Land, buildings and equipment, net

    beginning of year $13,496,776 · end of year $12,912,372

  • 17 · Accounts payable and accrued expenses

    beginning of year $425,639 · end of year $225,511

  • 19 · Deferred revenue

    beginning of year $8,333 · end of year $8,333

  • 23 · Secured mortgages and notes payable

    beginning of year $1,610,439 · end of year $1,357,252

  • 25 · Other liabilities

    beginning of year $437,747 · end of year $399,725

  • 27 · Net assets without donor restrictions

    beginning of year $11,497,740 · end of year $11,496,592

Mission and programs · 2022

Mission

TO LESSEN THE BURDENS OF GOVERNMENT BY ASSUMING IMMEDIATE AND LONG-TERM MAINTENANCE OBLIGATIONS TO PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED IN O'DONNELL PARK (THE "PARK").TO OPERATE AS AN INTEGRAL PART OF MILWAUKEE ART MUSEUM, INC. (MAM) IN FURTHERANCE OF ITS PURPOSE OF WORKING IN COOPERATION WITH PUBLIC ENTITIES TO PRESERVE, PROTECT AND MAINTAIN COUNTY-OWNED BUILDINGS, CITY PROPERTY AND LAKEFRONT LANDS.TO SUPPORT MAM'S PURPOSE OF ENHANCING THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING TO PATRONS OF NEARBY CULTURAL INSTITUTIONS, INCLUDING THE MILWAUKEE ART MUSEUM, THE WAR MEMORIAL CENTER AND THE BETTY BRINN CHILDREN'S MUSEUM.TO IMPROVE THE ENVIRONMENT AND SAFETY OF THE PARK AND SURROUNDING AREAS BY RENOVATING AND MAINTAINING THE PARK'S PARKING STRUCTURE FOR THE BENEFIT OF THE COMMUNITY.TO SUPPORT MILWAUKEE COUNTY'S LONG-TERM PLANS OF PROVIDING GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT.

Activities or mission (Part I)

TO ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER AND OTHERWISE DEAL IN PROPERTY FOR USE AND ENJOYMENT BY, IN FURTHERANCE OF THE PURPOSES OF, AND FOR THE EXCLUSIVE BENEFIT OF MILWAUKEE ART MUSEUM, INC.TO HOLD, INVEST AND ADMINISTER PROPERTY AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF, TO CARRY OUT THE PURPOSES OF, AND TO PERFORM THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF MILWAUKEE ART MUSEUM, INC.

  • TO LESSEN THE BURDENS OF GOVERNMENT, MUSEUM CENTER PARK INC. (MCP) OPERATES, MAINTAINS AND ACTS AS LESSOR FOR THE PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED AT O'DONNELL PARK. MCP ENHANCES THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING IN THE AREA, PROVIDES GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT AND SURROUNDING AREAS BY MAINTAINING THE PARK FOR THE PUBLIC'S USE AND ENJOYMENT, AND CONTINUES MILWAUKEE COUNTY'S PREVIOUSLY CONDUCTED ACTIVITIES OF PROVIDING PARKING FACILITIES TO THE GENERAL PUBLIC AND RENTAL SPACE TO LOCAL ORGANIZATIONS.

    Expenses $1,912,248 · Revenue $1,769,517

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MARCELLE POLEDNIK

    BAUMGARTNER DIRECTOR OF MA

    Total calculated
    $548,906
    From this org
    $0
    From related orgs
    $522,736
    Other
    $26,170
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $489,936 related
    Bonus
    $0 + $32,800 related
    Other
    $0
    Deferred
    $0 + $9,150 related
    Nontaxable benefits
    $0 + $17,020 related
    Filer's total
    $0 + $548,906 related

  • ALISSA KARL

    CFO OF MAM

    Total calculated
    $205,128
    From this org
    $0
    From related orgs
    $193,812
    Other
    $11,316
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,812 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,877 related
    Nontaxable benefits
    $0 + $5,439 related
    Filer's total
    $0 + $205,128 related

  • DANIEL SOMERS

    FACILITIES DIRECTOR

    Total calculated
    $137,501
    From this org
    $0
    From related orgs
    $122,237
    Other
    $15,264
    Hours/week
    10 + 40 related

  • JOEL QUADRACCI

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • PETER DAMSGAARD

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KATHY THORNTON-BIAS

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE TOP MANAGEMENT OFFICIAL IS COMPENSATED BY MILWAUKEE ART MUSEUM, INC., A RELATED ORGANIZATION OF MUSEUM CENTER PARK, INC. MILWAUKEE ART MUSEUM, INC. ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING THE COMPENSATION COMMITTEE METHOD, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY, AND APPROVAL BY THE BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
3 July 2024
IRS schema version
2022v5.0
Source object
202421979349301712

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.