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← MISSISSIPPI CHILDRENS MUSEUM

Form 990 for tax year 2022

Filed by MISSISSIPPI CHILDRENS MUSEUM.

Totals

Total revenue
$5,406,362
Total expenses
$6,170,551
Contributions and grants received
$2,683,484
Grants paid
$0
Program service revenue
$2,484,499
Investment income
-$36,754
Other revenue
$275,133
Total assets, end of year
$39,014,947
Total liabilities, end of year
$5,585,136
Net assets or fund balances, end of year
$33,429,811
Program services expenses (Part IX)
$5,282,788
Management and general expenses
$599,314
Fundraising expenses
$288,449
Program service expenses (Part III)
$5,282,788

Program services were 85.6% 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.

  • 1b · Membership dues

    $379,485

  • 1c · Fundraising events

    $286,750

  • 1f · All other contributions, gifts and grants

    $2,017,249

  • 1g · Noncash contributions included above

    $20,114

  • 2a · Program service revenue: ADMISSIONS REVENUE

    total $970,036 · related or exempt $970,036

  • 2b · Program service revenue: OTHER REVENUE

    total $688,443 · related or exempt $688,443

  • 2c · Program service revenue: EDUCATION PROGRAMS

    total $489,151 · related or exempt $489,151

  • 2d · Program service revenue: FACILITY RENTAL

    total $190,764 · related or exempt $190,764

  • 2e · Program service revenue: AFTER SCHOOL REVENUE

    total $146,105 · related or exempt $146,105

  • 3 · Investment income

    total $221,376 · excluded $221,376

  • 7a · Gross sales of assets other than inventory

    securities $856,495 · other assets $1,500

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

    securities $909,235 · other assets $206,890

  • 7c · Gain or loss

    securities -$52,740 · other assets -$205,390

  • 7d · Net gain or loss

    total -$258,130 · excluded -$258,130

  • 8a · Fundraising events: gross income

    $241,122

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

    $286,750

  • 8b · Fundraising events: direct expenses

    $95,520

  • 8c · Net income from fundraising events

    total $145,602 · excluded $145,602

  • 10a · Gross sales of inventory

    $338,203

  • 10b · Cost of goods sold

    $208,672

  • 10c · Net income from sales of inventory

    total $129,531 · related or exempt $129,531

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $151,410 · program services $121,128 · management and general $22,712 · fundraising $7,570

  • 7 · Other salaries and wages

    total $1,972,857 · program services $1,484,714 · management and general $266,952 · fundraising $221,191

  • 8 · Pension plan contributions

    total $39,122 · program services $29,574 · management and general $5,335 · fundraising $4,213

  • 9 · Other employee benefits

    total $181,581 · program services $137,267 · management and general $24,760 · fundraising $19,554

  • 10 · Payroll taxes

    total $152,754 · program services $115,475 · management and general $20,829 · fundraising $16,450

  • 11c · Fees: accounting

    total $44,850 · program services $44,850

  • 11g · Fees: other

    total $380,259 · program services $246,531 · management and general $133,728

  • 12 · Advertising and promotion

    total $175,685 · program services $175,685

  • 16 · Occupancy

    total $656,900 · program services $648,107 · management and general $8,793

  • 20 · Interest

    total $156,290 · program services $156,290

  • 22 · Depreciation, depletion and amortization

    total $1,155,048 · program services $1,096,828 · management and general $58,220

  • 23 · Insurance

    total $109,018 · program services $98,116 · management and general $10,902

  • 24a · Other expenses: EDUCATIONAL

    total $474,282 · program services $474,282

  • 24b · Other expenses: OPERATIONAL COST

    total $265,310 · program services $246,175 · fundraising $19,135

  • 24c · Other expenses: EVENTS

    total $119,992 · program services $119,992

  • 24d · Other expenses: SUPPLIES

    total $115,309 · program services $81,062 · management and general $34,247

  • 24e · All other expenses

    total $19,884 · program services $6,712 · management and general $12,836 · fundraising $336

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,398,638 · end of year $747,996

  • 2 · Savings and temporary cash investments

    beginning of year $1,287,289 · end of year $1,285,303

  • 3 · Pledges and grants receivable

    beginning of year $6,645,189 · end of year $5,510,763

  • 4 · Accounts receivable

    beginning of year $20,527 · end of year $62,474

  • 7 · Other notes and loans receivable

    beginning of year $12,049,700 · end of year $12,049,700

  • 8 · Inventories for sale or use

    beginning of year $36,941 · end of year $30,727

  • 9 · Prepaid expenses and deferred charges

    beginning of year $53,518 · end of year $46,927

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

    $26,199,559

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

    $11,067,023

  • 10c · Land, buildings and equipment, net

    beginning of year $16,320,845 · end of year $15,132,536

  • 15 · Other assets

    beginning of year $1,783,787 · end of year $4,148,521

  • 17 · Accounts payable and accrued expenses

    beginning of year $238,540 · end of year $609,184

  • 19 · Deferred revenue

    beginning of year $983,303 · end of year $889,438

  • 23 · Secured mortgages and notes payable

    beginning of year $4,088,123 · end of year $3,003,623

  • 25 · Other liabilities

    beginning of year $82,874 · end of year $1,082,891

  • 27 · Net assets without donor restrictions

    beginning of year $17,302,448 · end of year $17,977,672

  • 28 · Net assets with donor restrictions

    beginning of year $16,901,146 · end of year $15,452,139

Mission and programs · 2022

Mission

WE CREATE UNPARALLELED EXPERIENCES TO INSPIRE EXCELLENCE AND A LIFELONG JOY OF LEARNING.

  • THE MISSISSIPPI CHILDREN'S MUSEUM (MCM) SEEKS TO EMPOWER AND INSPIRE OUR STATE'S CHILDREN, REGARDLESS OF THEIR SOCIAL, EDUCATIONAL, OR ECONOMIC BACKGROUND. THE MISSION OF MCM IS TO CREATE UNPARALLELED EXPERIENCES TO INSPIRE EXCELLENCE AND A LIFELONG JOY OF LEARNING. THE 40,000 SQUARE FOOT MUSEUM IN THE JACKSON LOCATION AND 25,000 SQUARE FOOT MUSEUM IN THE MERIDIAN LOCATION ARE DESIGNED AROUND FIVE PRIMARY INITIATIVES, WITH CORRELATING EXHIBITS, PROGRAMS, AND OUTREACH EFFORTS. THESE INITIATIVES INCLUDE LITERACY, SCIENCE, TECHNOLOGY, ENGINEERING, ARTS, AND MATH (STEAM); HEALTH AND NUTRITION; CULTURAL ARTS AND MISSISSIPPI HERITAGE - THE KEYS TO HELPING CHILDREN MATURE INTO HEALTHY AND PRODUCTIVE ADULT LEARNERS. MCM PROVIDES PLACE-BASED AND OUTREACH EXPERIENCES THAT INCLUDE INTERACTIVE PERMANENT EXHIBITS; WEEKLY AND MONTHLY EDUCATIONAL PROGRAMS AND EVENTS; FIELD TRIPS; PROFESSIONAL DEVELOPMENT WORKSHOPS; ON-SITE AND OFF-SITE OUTREACH PROGRAMS; SUMMER AND SEASONAL CAMPS; ANNUAL VISITING EXHIBITS FROM OTHER CHILDREN'S MUSEUMS AND SCIENCE CENTERS; COMMUNITY ENRICHMENT SERIES; MCM TRAVELING EXHIBITS; COMMUNITY EVENT OUTREACH; AND ONLINE PROGRAMMING. MCM ALSO OFFERS A CAFE; A MUSEUM STORE; BIRTHDAY PARTIES; FACILITY RENTALS; SEASONAL TEMPORARY EXHIBITS AND EVENTS; THREE ANNUAL FUNDRAISERS; YOUTH AND COMMUNITY VOLUNTEER PROGRAMS; AND A SPLASH PAD AND POLLINATORS GARDEN, BOTH FREE TO THE PUBLIC. AS OUR COMMUNITY WAS REELING FROM CHALLENGES POSED BY COVID-19, MCM RESPONDED TO COMMUNITY NEEDS BY PROVIDING A SAFE SPACE FOR DAILY VIRTUAL SCHOOLING FOR OVER 100 JACKSON PUBLIC SCHOOL STUDENTS. THE MUSEUM CONTINUES THOSE SERVICES TODAY BY PROVIDING A ROBUST, DAILY AFTERSCHOOL PROGRAM SERVING NEARLY 150 STUDENTS FROM SIX JACKSON PUBLIC SCHOOLS ACROSS THE CITY. MCM BELIEVES THAT THIS LEVEL OF CONSISTENT, ONE-ON-ONE, REMEDIAL INSTRUCTION AND RELATIONSHIP-BUILDING WILL HAVE LONG-TERM, POSITIVE IMPACTS ON THE TRAJECTORY OF EACH STUDENT'S ACADEMIC CAREER AND WELL-BEING.ON MARCH 26, 2021, DESPITE A WORLDWIDE PANDEMIC, MCM IN CONCERT WITH THE LEADERSHIP OF EAST MISSISSIPPI OPENED TO THE PUBLIC A STATE-OF-THE-ART, $17 MILLION DOLLAR SATELLITE MUSEUM IN MERIDIAN, MISSISSIPPI. SINCE OPENING, MCM-MERIDIAN HAS EXCEEDED PROJECTIONS HAVING ALREADY WELCOMED OVER 50,000 VISITORS FROM 40 STATES AND 2 FOREIGN COUNTRIES. MCM-MERIDIAN IS FULLY OPERATIONAL, OFFERING WEEKLY PROGRAMMING, SPECIAL EVENTS, SCHOOL FIELD TRIPS, BIRTHDAY PARTIES, AND MORE. AS A TESTAMENT TO OUR COMMUNITY SERVICE AND RESILIENCE THROUGH THE HEIGHT OF THE PANDEMIC, THE INSTITUTE OF MUSEUM AND LIBRARY SERVICES (IMLS) ANNOUNCED MCM AS A RECIPIENT OF THE 2021 NATIONAL MEDAL FOR MUSEUM AND LIBRARY SERVICE, THE NATION'S HIGHEST HONOR GIVEN TO MUSEUMS AND LIBRARIES THAT MAKE SIGNIFICANT AND EXCEPTIONAL CONTRIBUTIONS TO THEIR COMMUNITIES. OUT OF 30 NATIONAL FINALISTS AND ONE OF ONLY THREE MUSEUMS TO RECEIVE THE HONOR, MCM IS ONE OF THE YOUNGEST MUSEUMS TO BE AWARDED THE IMLS NATIONAL MEDAL.

    Expenses $5,282,788 · Revenue $2,614,030

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

Listed in Part VII

  • Margaret Cupples

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • John Fletcher

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Donna Bruce

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Beth Hansen

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Terry Dale Cruse

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Graves

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Wilson Hood

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Olivia Host

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Ashley Meena

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Adams Yerger IV

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Alicen Blanchard

    VP GOVERANCE

    Total calculated
    $0
    Hours/week
    5

  • Lisa Didion

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Chip Pickering

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Camille Young

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Maggi Lampton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kaitlyn Vassar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Carla Lewis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lori Quarles

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jet Hollingworth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Michael Cormack

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Melanie Morgan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Susan Garrard

    PRESIDENT/CEO

    Total calculated
    $157,230
    From this org
    $147,000
    From related orgs
    $0
    Other
    $10,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,000
    Bonus
    $0
    Other
    $0
    Deferred
    $4,410
    Nontaxable benefits
    $5,820
    Filer's total
    $157,230

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

  • MISSISSIPPI CHILDREN'S MUSEUM - MERIDIAN LLC

    501(C)3 · OPERATE CHILDREN'S MUSEUM · MS · controlled entity

    Directly controlled by MISSISSIPPI CHILDREN'S MUSEUM

  • FTC QALICB INC

    501(C)3 · TO CARRY OUT THE CHARITABLE PURPOSES OF THE MISSISSIPPI CHILDREN'S MUSEUM. · MS

    Directly controlled by MISSISSIPPI CHILDREN'S MUSEUM

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MISSISSIPPI CHILDREN'S MUSEUM - MERIDIAN LLC

    OPERATE CHILDREN'S MUSEUM · MS · income $1,231,461 · assets $18,854,545

    Directly controlled by MISSISSIPPI CHILDREN'S MUSEUM

Provenance

Return type
form_990
Tax year
2022
Filed
7 February 2024
IRS schema version
2022v5.0
Source object
202440479349300649

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