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← BALTIMORE MUSEUM OF INDUSTRY

Form 990 for tax year 2024

Filed by BALTIMORE MUSEUM OF INDUSTRY.

Totals

Total revenue
$2,496,121
Total expenses
$2,730,275
Contributions and grants received
$1,141,133
Grants paid
$0
Program service revenue
$492,242
Investment income
$88,964
Other revenue
$773,782
Total assets, end of year
$4,186,093
Total liabilities, end of year
$3,105,769
Net assets or fund balances, end of year
$1,080,324
Program services expenses (Part IX)
$2,076,303
Management and general expenses
$325,135
Fundraising expenses
$328,837
Program service expenses (Part III)
$2,076,303

Program services were 76.0% 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.

  • 1c · Fundraising events

    $94,675

  • 1e · Government grants (contributions)

    $267,827

  • 1f · All other contributions, gifts and grants

    $778,631

  • 2a · Program service revenue: ADMISSIONS

    total $461,703 · related or exempt $461,703

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $29,315 · related or exempt $29,315

  • 2c · Program service revenue: ARCHIVE & COLL. FEES

    total $1,224 · related or exempt $1,224

  • 3 · Investment income

    total $88,964 · excluded $88,964

  • 6a · Gross rents

    real property $757,339

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $757,339

  • 6d · Net rental income or loss

    total $757,339 · excluded $757,339

  • 8a · Fundraising events: gross income

    $16,500

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

    $94,675

  • 8b · Fundraising events: direct expenses

    $29,707

  • 8c · Net income from fundraising events

    total -$13,207 · excluded -$13,207

  • 10a · Gross sales of inventory

    $38,027

  • 10b · Cost of goods sold

    $16,772

  • 10c · Net income from sales of inventory

    total $21,255 · excluded $21,255

  • 11a · Other revenue: FARMERS MARKET INCOME

    total $7,202 · unrelated business $7,202

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $1,193 · related or exempt $1,193

  • 11e · Other revenue, total

    $8,395

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $389,859 · program services $265,105 · management and general $62,377 · fundraising $62,377

  • 7 · Other salaries and wages

    total $867,370 · program services $584,717 · management and general $134,664 · fundraising $147,989

  • 9 · Other employee benefits

    total $163,791 · program services $76,026 · management and general $54,046 · fundraising $33,719

  • 10 · Payroll taxes

    total $103,113 · program services $70,117 · management and general $16,498 · fundraising $16,498

  • 11b · Fees: legal

    total $32,799 · program services $29,191 · management and general $1,640 · fundraising $1,968

  • 11c · Fees: accounting

    total $26,587 · program services $23,663 · management and general $1,329 · fundraising $1,595

  • 11g · Fees: other

    total $145,898 · program services $122,212 · management and general $6,893 · fundraising $16,793

  • 12 · Advertising and promotion

    total $10,583 · program services $10,583

  • 13 · Office expenses

    total $63,501 · program services $50,907 · management and general $3,212 · fundraising $9,382

  • 14 · Information technology

    total $67,568 · program services $56,793 · management and general $1,039 · fundraising $9,736

  • 16 · Occupancy

    total $245,774 · program services $230,857 · management and general $14,917

  • 17 · Travel

    total $5,304 · program services $5,186 · management and general $48 · fundraising $70

  • 20 · Interest

    total $100,695 · program services $85,583 · management and general $7,400 · fundraising $7,712

  • 22 · Depreciation, depletion and amortization

    total $186,784 · program services $154,922 · management and general $14,161 · fundraising $17,701

  • 23 · Insurance

    total $45,823 · program services $38,404 · management and general $4,122 · fundraising $3,297

  • 24a · Other expenses: EXHIBIT DEVELOPMENT COS

    total $274,826 · program services $272,037 · management and general $2,789

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,196,328 · end of year $1,568,024

  • 2 · Savings and temporary cash investments

    beginning of year $65,333 · end of year $44,052

  • 4 · Accounts receivable

    beginning of year $61,556 · end of year $104,375

  • 8 · Inventories for sale or use

    beginning of year $16,750 · end of year $15,346

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,291 · end of year $16,595

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

    $9,037,732

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

    $7,665,486

  • 10c · Land, buildings and equipment, net

    beginning of year $1,559,001 · end of year $1,372,246

  • 11 · Investments: publicly traded securities

    beginning of year $789,478 · end of year $856,174

  • 15 · Other assets

    beginning of year $211,370 · end of year $209,281

  • 17 · Accounts payable and accrued expenses

    beginning of year $173,151 · end of year $229,567

  • 19 · Deferred revenue

    beginning of year $179,668 · end of year $743,362

  • 23 · Secured mortgages and notes payable

    beginning of year $2,237,204 · end of year $2,132,840

  • 27 · Net assets without donor restrictions

    beginning of year $1,201,339 · end of year $954,571

  • 28 · Net assets with donor restrictions

    beginning of year $131,745 · end of year $125,753

Mission and programs · 2024

Mission

TO COLLECT, PRESERVE, AND INTERPRET THE INDUSTRIAL AND TECHNOLOGICAL HERITAGE OF THE BALTIMORE REGION FOR THE PUBLIC BY PRESENTING EDUCATIONAL PROGRAMS AND EXHIBITS THAT EXPLORE THE STORIES OF MARYLAND'S INDUSTRIES AND THE PEOPLE WHO CREATED AND WORKED IN THEM.

Activities or mission (Part I)

THE BALTIMORE MUSEUM OF INDUSTRY INTERPRETS THE DIVERSE AND SIGNIFICANT HUMAN STORIES BEHIND LABOR AND INNOVATION IN BALTIMORE, CULTIVATING A SENSE OF BELONGING AND INSPIRING VISITORS TO THINK CRITICALLY ABOUT THE INTERSECTION OF WORK AND SOCIETY.

  • EDUCATIONAL PROGRAMMING: BMI SERVED 24,455 STUDENTS, TEACHERS, AND CHAPERONES IN FY25. THIS IS A NOTABLE INCREASE OF 5,000 OVER FY24, ESPECIALLY GIVEN MANY SCHOOLS' DIFFICULTY IN BOOKING BUSES. OF THE TOTAL NUMBER, 3,148 WERE TITLE I STUDENTS FOR WHICH THE BMI PROVIDED AN 80% SUBSIDY IN ADMISSION. THE BMI ALSO SERVED 1,438 YOUNG ENGINEERS IN FY25 THROUGH ITS MARYLAND ENGINEERING CHALLENGES PROGRAM HELD ON THE BMI CAMPUS. LASTLY, TO MAINTAIN EXCELLENCE IN ITS 14 EDUCATIONAL PROGRAMS AND ENSURE THEY MEET MARYLAND COLLEGE & CAREER READINESS STANDARDS, THE BMI HELD WORKSHOPS AND PROFESSIONAL DEVELOPMENT SESSIONS FOR ITS MUSEUM EDUCATORS.

    Expenses $1,318,372 · Revenue $313,312

  • EXHIBITIONS & COLLECTIONS: THE CURATORIAL AFFAIRS TEAM CONTINUES TO PROMOTE STORIES OF BALTIMORE'S INDUSTRIAL HERITAGE THROUGH NEW EXHIBITS, PRESERVATION AND DISSEMINATION OF COLLECTIONS AND ARCHIVED ITEMS. IN FY25, THE MUSEUM GREW THE COLLECTION OF ARTIFACTS, DOCUMENTS, AND PHOTOGRAPHS THROUGH FORMAL ACCESSION OF DONATIONS, INCLUDING THE BGE ARCHIVE AND THE A. AUBREY BODINE COLLECTION, BOTH OF WHICH REPRESENT HISTORIC AND CULTURAL SIGNIFICANCE FOR THE CITY OF BALTIMORE AND SURROUNDING REGIONS.

    Expenses $752,912 · Revenue $178,930

  • PUBLIC PROGRAMMING: THROUGH ITS PUBLIC PROGRAMMING AND CAMPUS ACTIVATION IN FY25, THE BMI CONTINUES TO FIND WAYS TO CREATE A WELCOMING ENVIRONMENT FOR ALL COMMUNITY MEMBERS. THE MONTHLY NETWORKING SERIES, INDUSTRY SOCIAL CLUB, FEATURED ROTATING PANELS OF EXPERTS IN A VARIETY OF INDUSTRIES THAT POWER BALTIMORE AND FUEL CONNECTION. LABOR + INNOVATION SOUGHT TO EXPLORE THE INTERSECTION OF ART AND INDUSTRY. THE SEASONAL FARMERS MARKET IS AN IMPORTANT GATHERING SPACE FOR NEIGHBORS AND A POINT OF CONNECTION FOR LOCAL ARTISANS AND GROWERS. IN ADDITION TO THOSE WHO TOOK PART IN OUR PUBLIC OFFERINGS, OVER 80,000 GUESTS TO THE MUSEUM ENJOYED OUR EDUCATIONAL AND IMMERSIVE EXHIBITS THAT GRANT A PEEK INTO THE RICH INDUSTRIAL HISTORY OF BALTIMORE.

    Expenses $5,019 · Revenue $1,193

As filed on the 2024 return.

Listed in Part VII

  • MICHAEL RAPHAEL

    CHAIR, TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAY NWACHU

    VICE CHAIR, TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SMITHA GOPAL

    TREASURER, TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MADELINE STOKES

    SECRETARY, TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHRIS BEDDARD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BOI CARPENTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TED CARTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES DERIU

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW DOUD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KRISTEN ERNST

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TIM EVANS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANDY FRANK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • QUINCY GOLDSMITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ROBERT HIME

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOE KOVARS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LAURA MCCOY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JEN MCLAUGHLIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BRYAN PORTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DESTINY-SIMONE RAMJOHN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PHIL TULKOFF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CORKIA WHITE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANITA KASSOF

    EXECUTIVE DIRECTOR

    Total calculated
    $144,999
    From this org
    $127,776
    From related orgs
    $0
    Other
    $17,223
    Hours/week
    40

  • MARGARET DE ARCANGELIS

    DEPUTY DIRECTOR

    Total calculated
    $49,618
    From this org
    $46,169
    From related orgs
    $0
    Other
    $3,449
    Hours/week
    40

  • PAULA HANKINS

    DIRECTOR OF OPERATIONS & FINANCE

    Total calculated
    $105,752
    From this org
    $83,388
    From related orgs
    $0
    Other
    $22,364
    Hours/week
    40

  • DEBORAH CADIN

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $118,170
    From this org
    $95,170
    From related orgs
    $0
    Other
    $23,000
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BMI INC

    C · HOLDING COMPANY · MD · 100% owned · controlled entity

    Directly controlled by BALTIMORE MUSEUM OF INDUSTRY INC

Provenance

Return type
form_990
Tax year
2024
Filed
1 April 2026
IRS schema version
2024v5.5
Source object
202610929349300626

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