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Nonprofiteer
← FARMERS MUSEUM INC

Form 990 for tax year 2023

Filed by FARMERS MUSEUM INC.

Totals

Total revenue
$2,675,417
Total expenses
$5,312,730
Contributions and grants received
$775,351
Grants paid
$0
Program service revenue
$899,673
Investment income
$1,000,393
Other revenue
$0
Total assets, end of year
$75,807,776
Total liabilities, end of year
$525,163
Net assets or fund balances, end of year
$75,282,613
Program services expenses (Part IX)
$1,392,093
Management and general expenses
$3,920,637
Fundraising expenses
$0
Program service expenses (Part III)
$1,392,093

Program services were 26.2% 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.

  • 1e · Government grants (contributions)

    $50,500

  • 1f · All other contributions, gifts and grants

    $724,851

  • 1g · Noncash contributions included above

    $12,960

  • 2a · Program service revenue: AUXILIARY ACTIVITIES

    total $495,373 · related or exempt $495,373

  • 2b · Program service revenue: ADMISSIONS

    total $371,474 · related or exempt $371,474

  • 2c · Program service revenue: SERVICE FEES

    total $32,826 · related or exempt $32,826

  • 3 · Investment income

    total $773,418 · excluded $773,418

  • 7a · Gross sales of assets other than inventory

    securities $14,850,813 · other assets $332,359

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

    securities $14,956,197 · other assets $0

  • 7c · Gain or loss

    securities -$105,384 · other assets $332,359

  • 7d · Net gain or loss

    total $226,975 · excluded $226,975

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $294,000 · management and general $294,000

  • 7 · Other salaries and wages

    total $1,555,676 · program services $755,611 · management and general $800,065

  • 8 · Pension plan contributions

    total $168,218 · program services $25,607 · management and general $142,611

  • 9 · Other employee benefits

    total $562,249 · program services $272,851 · management and general $289,398

  • 11b · Fees: legal

    total $858,645 · management and general $858,645

  • 11g · Fees: other

    total $29,696 · program services $5,755 · management and general $23,941

  • 12 · Advertising and promotion

    total $106,011 · management and general $106,011

  • 17 · Travel

    total $23,042 · program services $10,218 · management and general $12,824

  • 22 · Depreciation, depletion and amortization

    total $253,919 · management and general $253,919

  • 23 · Insurance

    total $220,229 · program services $993 · management and general $219,236

  • 24a · Other expenses: CONTRACTED SERVICES

    total $641,439 · program services $52,236 · management and general $589,203

  • 24b · Other expenses: COST OF GOODS SOLD

    total $148,130 · program services $148,130 · management and general $0

  • 24c · Other expenses: UTILITIES

    total $104,317 · program services $202 · management and general $104,115

  • 24d · Other expenses: SUPPLIES

    total $59,592 · program services $16,174 · management and general $43,418

  • 24e · All other expenses

    total $287,567 · program services $104,316 · management and general $183,251

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $10,505,377 · end of year $18,898,547

  • 3 · Pledges and grants receivable

    beginning of year $52,500 · end of year $152,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $97,027 · end of year $128,670

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

    $10,194,390

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

    $8,047,902

  • 10c · Land, buildings and equipment, net

    beginning of year $2,315,923 · end of year $2,146,488

  • 11 · Investments: publicly traded securities

    beginning of year $15,920,068 · end of year $4,829,793

  • 12 · Investments: other securities

    beginning of year $44,421,973 · end of year $49,651,778

  • 17 · Accounts payable and accrued expenses

    beginning of year $181,488 · end of year $232,450

  • 19 · Deferred revenue

    beginning of year $213,308 · end of year $292,713

  • 27 · Net assets without donor restrictions

    beginning of year $63,688,146 · end of year $65,394,780

  • 28 · Net assets with donor restrictions

    beginning of year $9,229,926 · end of year $9,887,833

Mission and programs · 2023

Mission

CULTIVATING AN UNDERSTANDING OF THE RURAL HERITAGE THAT HAS SHAPED OUR LAND, COMMUNITIES AND AMERICAN CULTURE.

Activities or mission (Part I)

CULTIVATING AN UNDERSTANDING OF THE RURAL HERITAGE THAT HAS SHAPED AMERICAN CULTURE.

  • MUSEUM-MUSEUM RECREATES LIFE ON THE EARLY NEW YORK FRONTIER

    Expenses $307,800 · Revenue $404,300

  • EDUCATION-NEW YORK HISTORY STUDIES

    Expenses $570,978

  • LIBRARY NEW YORK HISTORY RESEARCH

    Expenses $44,933

  • JUNIOR SHOW

    Expenses $113,192

  • PUBLICATIONS

    Expenses $10,243

  • AUXILIARY ACTIVITIES

    Expenses $344,947 · Revenue $495,373

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jane Forbes Clark

    DIRECTOR, CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1

  • Kevin Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Gates Hawn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Henry Weil

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • David Bliss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Michael Moffat

    DIRECTOR VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.1

  • John F Lambert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Stephen M Duff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Josh Kilmer-Purcell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Brent Ridge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Douglas Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Jeffrey H Pressman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • James Patrick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Paul D'Ambrosio

    PRESIDENT

    Total calculated
    $458,227
    From this org
    $209,476
    From related orgs
    $209,375
    Other
    $39,376
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $196,875 + $196,875 related
    Bonus
    $12,601 + $12,500 related
    Other
    $0
    Deferred
    $19,688 + $19,688 related
    Nontaxable benefits
    $0
    Filer's total
    $229,164 + $229,063 related

  • Joseph Siracusa

    VICE PRESIDENT

    Total calculated
    $223,698
    From this org
    $102,233
    From related orgs
    $102,047
    Other
    $19,418
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $97,125 + $97,047 related
    Bonus
    $5,108 + $5,000 related
    Other
    $0
    Deferred
    $9,713 + $9,705 related
    Nontaxable benefits
    $0
    Filer's total
    $111,946 + $111,752 related

  • Anthony J Fasano

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1

  • Andrew Marietta

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

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

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
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202423179349305847

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