Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $162,923

• 1c · Fundraising events

  $1,144,552

• 1e · Government grants (contributions)

  $6,869,698

• 1f · All other contributions, gifts and grants

  $22,404,852

• 1g · Noncash contributions included above

  $2,228,725

• 2a · Program service revenue: VISITOR SERVICES

  total $8,575,763 · excluded $8,575,763

• 2b · Program service revenue: EVENT REVENUE

  total $4,931,134 · related or exempt $4,931,134

• 2c · Program service revenue: MEMBERSHIP DUES

  total $1,343,530 · related or exempt $1,343,530

• 2d · Program service revenue: OTHER PROGRAMS

  total $688,604 · related or exempt $688,604

• 3 · Investment income

  total $3,791,487 · unrelated business -$4,110 · excluded $3,795,597

• 6a · Gross rents

  real property $1,155,848

• 6b · Less rental expenses

  real property $44,665

• 6c · Rental income or loss

  real property $1,111,183

• 6d · Net rental income or loss

  total $1,111,183 · related or exempt $1,111,183

• 7a · Gross sales of assets other than inventory

  securities $14,430,287

• 7b · Less cost or other basis and sales expenses

  securities $10,310,168

• 7c · Gain or loss

  securities $4,120,119

• 7d · Net gain or loss

  total $4,120,119 · excluded $4,120,119

• 8a · Fundraising events: gross income

  $584,951

• 8a · Fundraising events: contributions included on line 1c

  $1,144,552

• 8b · Fundraising events: direct expenses

  $794,703

• 8c · Net income from fundraising events

  total -$209,752 · excluded -$209,752

• 9a · Gaming: gross income

  $49,900

• 9b · Gaming: direct expenses

  $1,000

• 9c · Net income from gaming

  total $48,900 · excluded $48,900

• 10a · Gross sales of inventory

  $4,564,896

• 10b · Cost of goods sold

  $3,108,850

• 10c · Net income from sales of inventory

  total $1,456,046 · related or exempt $680,099 · unrelated business $775,947

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $331,961 · program services $331,961

• 3 · Grants to foreign organizations and individuals

  total $60,000 · program services $60,000

• 5 · Compensation of officers, directors and key employees

  total $811,015 · management and general $612,385 · fundraising $198,630

• 7 · Other salaries and wages

  total $18,583,587 · program services $16,102,562 · management and general $863,724 · fundraising $1,617,301

• 8 · Pension plan contributions

  total $736,732 · program services $638,373 · management and general $34,242 · fundraising $64,117

• 9 · Other employee benefits

  total $1,897,411 · program services $1,671,415 · management and general $65,320 · fundraising $160,676

• 10 · Payroll taxes

  total $1,216,489 · program services $1,054,080 · management and general $56,540 · fundraising $105,869

• 11b · Fees: legal

  total $19,420 · management and general $19,420

• 11c · Fees: accounting

  total $67,839 · management and general $67,839

• 11f · Fees: investment management

  total $114,573 · management and general $114,573

• 11g · Fees: other

  total $2,881,655 · program services $2,285,353 · management and general $367,220 · fundraising $229,082

• 12 · Advertising and promotion

  total $222,523 · program services $222,310 · management and general $213

• 13 · Office expenses

  total $827,462 · program services $672,528 · management and general $3,519 · fundraising $151,415

• 14 · Information technology

  total $871,433 · program services $631,050 · management and general $104,481 · fundraising $135,902

• 16 · Occupancy

  total $2,200,053 · program services $2,195,192 · management and general $4,837 · fundraising $24

• 17 · Travel

  total $209,094 · program services $173,600 · management and general $16,382 · fundraising $19,112

• 19 · Conferences, conventions and meetings

  total $590,890 · program services $376,488 · management and general $143,687 · fundraising $70,715

• 20 · Interest

  total $3,621,226 · program services $3,621,226

• 22 · Depreciation, depletion and amortization

  total $617,435 · program services $600,363 · management and general $16,659 · fundraising $413

• 23 · Insurance

  total $585,588 · program services $545,269 · management and general $31,911 · fundraising $8,408

• 24a · Other expenses: UBI TAXES

  total $4,981 · management and general $4,981

• 24b · Other expenses: SUPPLIES

  total $3,186,112 · program services $2,965,735 · management and general $35,298 · fundraising $185,079

• 24c · Other expenses: ENGINEERING SERVICES

  total $1,697,546 · program services $1,697,546

• 24d · Other expenses: SECURITY

  total $940,673 · program services $928,734 · fundraising $11,939

• 24e · All other expenses

  total $780,375 · program services $762,820 · fundraising $17,555

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,932,084 · end of year $6,413,948

• 2 · Savings and temporary cash investments

  beginning of year $37,168,386 · end of year $31,360,673

• 3 · Pledges and grants receivable

  beginning of year $13,696,007 · end of year $8,566,014

• 4 · Accounts receivable

  beginning of year $297,690 · end of year $640,052

• 8 · Inventories for sale or use

  beginning of year $54,598 · end of year $30,756

• 9 · Prepaid expenses and deferred charges

  beginning of year $405,156 · end of year $510,510

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

  $8,749,515

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

  $5,248,675

• 10c · Land, buildings and equipment, net

  beginning of year $3,224,387 · end of year $3,500,840

• 11 · Investments: publicly traded securities

  beginning of year $50,206,138 · end of year $72,387,104

• 12 · Investments: other securities

  beginning of year $117,900,392 · end of year $141,455,134

• 17 · Accounts payable and accrued expenses

  beginning of year $4,978,520 · end of year $8,296,741

• 19 · Deferred revenue

  beginning of year $638,399 · end of year $903,571

• 20 · Tax-exempt bond liabilities

  beginning of year $70,354,000 · end of year $70,354,000

• 27 · Net assets without donor restrictions

  beginning of year $66,330,365 · end of year $88,537,849

• 28 · Net assets with donor restrictions

  beginning of year $83,583,554 · end of year $96,772,870

The filer's explanations (Part III)

PART I, LINE 1A

SOCIAL CLUB DUES FOR THE PRESIDENT/CEO, MEGAN ROSS, ARE PAID FOR BY THE SOCIETY. SINCE THE MAJORITY OF THE CLUB USE IS FOR BUSINESS PURPOSES, MONTHLY MEMBERSHIP AND RELATED ASSESSMENTS WILL BE PAID IN FULL BY THE SOCIETY AND ARE NOT TREATED AS TAXABLE COMPENSATION.

PART I, LINE 4B

THE PRESIDENT EMERITUS/LIFE TRUSTEE PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN (457F - NORTHERN TRUST). THE AMOUNT RECEIVED IN FY24 WAS $100,000 AND PREVIOUSLY ACCRUED AS OF FY23. AN ADDITIONAL ACCRUED VESTED 457F BENEFIT OF $200,000 WILL BE PAID OVER THE NEXT 2 FISCAL YEARS FY25 AND FY26, WHICH HAVE ALSO BEEN PREVIOUSLY ACCRUED AS OF FY23.

PART I, LINE 7

THE BOARD APPROVED A BONUS TO SELECT STAFF BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION.