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Nonprofiteer
← MUSEUM CENTER PARK INC

Form 990 for tax year 2024

Filed by MUSEUM CENTER PARK INC.

Totals

Total revenue
$2,424,655
Total expenses
$2,238,071
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,207,374
Investment income
$21,659
Other revenue
$195,622
Total assets, end of year
$13,316,371
Total liabilities, end of year
$1,458,094
Net assets or fund balances, end of year
$11,858,277
Program services expenses (Part IX)
$2,191,166
Management and general expenses
$46,905
Fundraising expenses
$0
Program service expenses (Part III)
$2,191,166

Program services were 97.9% 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.

  • 2a · Program service revenue: PARKING FEES

    total $2,207,374 · related or exempt $2,207,374

  • 3 · Investment income

    total $21,659 · excluded $21,659

  • 6a · Gross rents

    real property $305,629

  • 6b · Less rental expenses

    real property $110,007

  • 6c · Rental income or loss

    real property $195,622

  • 6d · Net rental income or loss

    total $195,622 · related or exempt $927 · excluded $194,695

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $318,855 · program services $282,030 · management and general $36,825

  • 11c · Fees: accounting

    total $6,817 · management and general $6,817

  • 11g · Fees: other

    total $10,178 · program services $7,329 · management and general $2,849

  • 16 · Occupancy

    total $712,236 · program services $712,236

  • 20 · Interest

    total $46,214 · program services $46,214

  • 22 · Depreciation, depletion and amortization

    total $799,400 · program services $799,400

  • 23 · Insurance

    total $51,164 · program services $51,164

  • 24a · Other expenses: PROG. SUPPORT TRANSFER

    total $275,094 · program services $275,094

  • 24b · Other expenses: SUPPLIES

    total $17,699 · program services $17,699

  • 24e · All other expenses

    total $414 · management and general $414

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $888,727 · end of year $986,190

  • 4 · Accounts receivable

    beginning of year $209,727 · end of year $168,142

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,027 · end of year $12,818

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

    $18,189,912

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

    $6,040,691

  • 10c · Land, buildings and equipment, net

    beginning of year $12,500,582 · end of year $12,149,221

  • 17 · Accounts payable and accrued expenses

    beginning of year $376,140 · end of year $253,600

  • 19 · Deferred revenue

    beginning of year $80,952 · end of year -$10,086

  • 23 · Secured mortgages and notes payable

    beginning of year $1,133,256 · end of year $940,019

  • 25 · Other liabilities

    beginning of year $349,022 · end of year $274,561

  • 27 · Net assets without donor restrictions

    beginning of year $11,671,693 · end of year $11,858,277

Mission and programs · 2024

Mission

TO LESSEN THE BURDENS OF GOVERNMENT BY ASSUMING IMMEDIATE AND LONG-TERM MAINTENANCE OBLIGATIONS TO PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED IN O'DONNELL PARK (THE "PARK").TO OPERATE AS AN INTEGRAL PART OF MILWAUKEE ART MUSEUM, INC. (MAM) IN FURTHERANCE OF ITS PURPOSE OF WORKING IN COOPERATION WITH PUBLIC ENTITIES TO PRESERVE, PROTECT AND MAINTAIN COUNTY-OWNED BUILDINGS, CITY PROPERTY AND LAKEFRONT LANDS.TO SUPPORT MAM'S PURPOSE OF ENHANCING THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING TO PATRONS OF NEARBY CULTURAL INSTITUTIONS, INCLUDING THE MILWAUKEE ART MUSEUM, THE WAR MEMORIAL CENTER AND THE BETTY BRINN CHILDREN'S MUSEUM.TO IMPROVE THE ENVIRONMENT AND SAFETY OF THE PARK AND SURROUNDING AREAS BY RENOVATING AND MAINTAINING THE PARK'S PARKING STRUCTURE FOR THE BENEFIT OF THE COMMUNITY.TO SUPPORT MILWAUKEE COUNTY'S LONG-TERM PLANS OF PROVIDING GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT.

Activities or mission (Part I)

TO ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER AND OTHERWISE DEAL IN PROPERTY FOR USE AND ENJOYMENT BY, IN FURTHERANCE OF THE PURPOSES OF, AND FOR THE EXCLUSIVE BENEFIT OF MILWAUKEE ART MUSEUM, INC.TO HOLD, INVEST AND ADMINISTER PROPERTY AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF, TO CARRY OUT THE PURPOSES OF, AND TO PERFORM THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF MILWAUKEE ART MUSEUM, INC.

  • TO LESSEN THE BURDENS OF GOVERNMENT, MUSEUM CENTER PARK INC. (MCP) OPERATES, MAINTAINS AND ACTS AS LESSOR FOR THE PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED AT O'DONNELL PARK. MCP ENHANCES THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING IN THE AREA, PROVIDES GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT AND SURROUNDING AREAS BY MAINTAINING THE PARK FOR THE PUBLIC'S USE AND ENJOYMENT, AND CONTINUES MILWAUKEE COUNTY'S PREVIOUSLY CONDUCTED ACTIVITIES OF PROVIDING PARKING FACILITIES TO THE GENERAL PUBLIC AND RENTAL SPACE TO LOCAL ORGANIZATIONS.

    Expenses $2,191,166 · Revenue $2,208,301

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joel Quadracci

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bruce Block

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Peter Damsgaard

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Josh Jeffers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kathy Thornton-Bias

    TRUSTEE (THRU DEC 2024)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Marcelle Polednik

    BAUMGARTNER DIRECTOR OF MA

    Total calculated
    $565,495
    From this org
    $0
    From related orgs
    $533,191
    Other
    $32,304
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $493,191 related
    Bonus
    $0 + $40,000 related
    Other
    $0
    Deferred
    $0 + $10,350 related
    Nontaxable benefits
    $0 + $21,954 related
    Filer's total
    $0 + $565,495 related

  • Alissa Karl

    CFO & COO OF MAM

    Total calculated
    $225,010
    From this org
    $0
    From related orgs
    $212,275
    Other
    $12,735
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,275 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,458 related
    Nontaxable benefits
    $0 + $6,277 related
    Filer's total
    $0 + $225,010 related

  • Daniel Somers

    FACILITIES DIRECTOR

    Total calculated
    $133,118
    From this org
    $0
    From related orgs
    $115,963
    Other
    $17,155
    Hours/week
    10 + 40 related

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

The filer's explanations (Part III)

PART I, LINE 3
THE TOP MANAGEMENT OFFICIAL IS COMPENSATED BY MILWAUKEE ART MUSEUM, INC., A RELATED ORGANIZATION OF MUSEUM CENTER PARK, INC. MILWAUKEE ART MUSEUM, INC. ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING THE COMPENSATION COMMITTEE METHOD, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY, AND APPROVAL BY THE BOARD.

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
2024
Filed
7 July 2026
IRS schema version
2024v5.5
Source object
202641959349301664

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