Totals
- Total revenue
- $245,488
- Total expenses
- $849,365
- Contributions and grants received
- $12,155
- Grants paid
- $90,016
- Program service revenue
- $233,333
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $14,238,938
- Total liabilities, end of year
- $16,130,142
- Net assets or fund balances, end of year
- -$1,891,204
- Program services expenses (Part IX)
- $827,210
- Management and general expenses
- $22,155
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $827,210
Program services were 97.4% 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.
-
1f · All other contributions, gifts and grants
$12,155
-
2a · Program service revenue: LEASE INCOME
total $233,333 · excluded $233,333
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $90,016 · program services $90,016
-
11c · Fees: accounting
total $20,553 · management and general $20,553
-
20 · Interest
total $213,652 · program services $213,652
-
22 · Depreciation, depletion and amortization
total $523,542 · program services $523,542
-
23 · Insurance
total $1,602 · management and general $1,602
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $220,031 · end of year $148,015
-
4 · Accounts receivable
beginning of year $292,222 · end of year $290,554
-
10a · Land, buildings and equipment: cost or other basis
$15,973,148
-
10b · Land, buildings and equipment: accumulated depreciation
$2,172,779
-
10c · Land, buildings and equipment, net
beginning of year $14,323,911 · end of year $13,800,369
-
17 · Accounts payable and accrued expenses
beginning of year $53,694 · end of year $33,678
-
23 · Secured mortgages and notes payable
beginning of year $16,069,797 · end of year $16,096,464
-
27 · Net assets without donor restrictions
beginning of year -$1,287,327 · end of year -$1,891,204
Mission and programs · 2024
Mission
TO DEVELOP AND CONSTRUCT A MUSEUM TO BENEFIT, SUPPORT, PERFORM THE CHARITABLE FUNCTIONS OF, OR TO CARRY OUT THE CHARITABLE PURPOSES, OF THE MISSISSIPPI CHILDREN'S MUSEUM. FTC OBTAINED THE STATUS OF A QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS IN ORDER TO CONSTRUCT, DEVELOP AND EQUIP A CHILDREN'S MUSEUM IN MERIDIAN, MISSISSIPPI THROUGH A NEW MARKETS TAX CREDIT (NMTC) TRANSACTION.
Activities or mission (Part I)
TO DEVELOP AND CONSTRUCT A MUSEUM TO BENEFIT, SUPPORT, PERFORM, THE CHARITABLE FUNCTIONS OF, OR TO CARRY OUT THE CHARITABLE PURPOSES, OF THE MISSISSIPPI CHILDREN'S MUSEUM.
-
TO DEVELOP AND CONSTRUCT A MUSEUM TO BENEFIT, SUPPORT, PERFORM THE CHARITABLE FUNCTIONS OF, OR TO CARRY OUT THE CHARITABLE PURPOSES, OF THE MISSISSIPPI CHILDREN'S MUSEUM.
Expenses $827,210 · Grants $90,016 · Revenue $233,333
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
SUSAN GARRARD
DIRECTOR
- Total calculated
- $153,464
- From this org
- $0
- From related orgs
- $143,622
- Other
- $9,842
- Hours/week
- 5 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $143,622 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $9,842 related
- Filer's total
- not reported + $153,464 related
-
SARAH SKELTON
DIRECTOR
- Total calculated
- $131,596
- From this org
- $0
- From related orgs
- $122,414
- Other
- $9,182
- Hours/week
- 5 + 40 related
-
MARY PRESTON DUBBERLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
JANET SPAIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
BARBARA ZELLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
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
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
-
$90,016
PROGRAM SERVICE
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.
-
3 · OPERATE · MS
-
MISSISSIPPI CHILDREN'S MUSEUM - MER
3 · OPERATE · MS
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 23 February 2026
- IRS schema version
- 2024v5.0
- Source object
- 202610549349300641
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