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Nonprofiteer
← THE GLASS-GLEN BURNIE FOUNDATION

Form 990 for tax year 2022

Filed by THE GLASS-GLEN BURNIE FOUNDATION.

Totals

Total revenue
$3,581,493
Total expenses
$4,106,205
Contributions and grants received
$0
Grants paid
$3,080,500
Program service revenue
$0
Investment income
$1,642,944
Other revenue
$1,938,549
Total assets, end of year
$57,440,868
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$57,440,868
Program services expenses (Part IX)
$3,473,680
Management and general expenses
$632,525
Fundraising expenses
$0
Program service expenses (Part III)
$3,473,680

Program services were 84.6% 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.

  • 3 · Investment income

    total $316,623 · excluded $316,623

  • 5 · Royalties

    total $1,932,283 · excluded $1,932,283

  • 7a · Gross sales of assets other than inventory

    securities $6,941,668

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

    securities $5,615,347

  • 7c · Gain or loss

    securities $1,326,321

  • 7d · Net gain or loss

    total $1,326,321 · excluded $1,326,321

  • 11a · Other revenue: MISCELLANEOUS O&G INCOME

    total $6,246 · excluded $6,246

  • 11b · Other revenue: MISCELLANEOUS INV INCOME

    total $20 · excluded $20

  • 11e · Other revenue, total

    $6,266

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,080,500 · program services $3,080,500

  • 5 · Compensation of officers, directors and key employees

    total $445,466 · program services $311,826 · management and general $133,640

  • 7 · Other salaries and wages

    total $80,000 · management and general $80,000

  • 9 · Other employee benefits

    total $244 · management and general $244

  • 10 · Payroll taxes

    total $6,120 · management and general $6,120

  • 11b · Fees: legal

    total $25,323 · management and general $25,323

  • 11c · Fees: accounting

    total $31,421 · management and general $31,421

  • 11f · Fees: investment management

    total $188,364 · management and general $188,364

  • 13 · Office expenses

    total $2,370 · management and general $2,370

  • 17 · Travel

    total $31,158 · program services $28,042 · management and general $3,116

  • 22 · Depreciation, depletion and amortization

    total $1,521 · management and general $1,521

  • 23 · Insurance

    total $28,484 · program services $25,636 · management and general $2,848

  • 24a · Other expenses: FARMERS NAT'L CO MGMT F

    total $154,476 · management and general $154,476

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $17,939 · program services $16,145 · management and general $1,794

  • 24c · Other expenses: AD VALOREM TAX

    total $10,243 · program services $10,243

  • 24d · Other expenses: TELEPHONE & INTERNET

    total $2,576 · program services $1,288 · management and general $1,288

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,370,469 · end of year $1,923,330

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

    $503,665

  • 10c · Land, buildings and equipment, net

    beginning of year $503,665 · end of year $503,665

  • 11 · Investments: publicly traded securities

    beginning of year $16,768,736 · end of year $17,920,598

  • 12 · Investments: other securities

    beginning of year $34,239,067 · end of year $32,021,157

  • 15 · Other assets

    beginning of year $5,073,638 · end of year $5,072,118

  • 27 · Net assets without donor restrictions

    beginning of year $57,955,575 · end of year $57,440,868

Mission and programs · 2022

Mission

THE MISSION OF THE GLASS-GLEN BURNIE FOUNDATION (THE "FOUNDATION") IS EXCLUSIVELY CHARITABLE AND EDUCATIONAL, SPECIFICALLY TO RESTORE, MAINTAIN, AND SUPPORT THE HISTORIC PROPERTIES AND GROUNDS THAT THE FOUNDATION OWNS IN THE VICINITY OF WINCHESTER, VIRGINIA FOR EDUCATIONAL AND PUBLIC BENEFIT AND TO ENDOW A MUSEUM THAT INCLUDES 18TH AND EARLY 19TH CENTURY AMERICAN AND ENGLISH ART ALONG WITH ADDITIONS MADE TO THE COLLECTIONS. THE FOUNDATION FULFILLS ITS MISSION THROUGH THE CREATION AND CONTINUING SUPPORT OF THE GLASS-GLEN BURNIE MUSEUM, INC. (DOING BUSINESS AS THE MUSEUM OF THE SHENANDOAH VALLEY) (THE "MSV"), WHICH OPERATES A MUSEUM ON THE FOUNDATION'S WINCHESTER PROPERTY THAT PROVIDES A WIDE VARIETY OF GALLERIES, EXHIBITIONS, AND EDUCATIONAL PROGRAMS, CARES FOR THE FOUNDATION'S HISTORIC PROPERTIES AND GROUNDS, OPERATES A 90-ACRE ART PARK ON THE GROUNDS, AND PRESERVES THE LARGEST GREEN SPACE AND ONLY WORKING FARM IN THE CITY OF WINCHESTER.

Activities or mission (Part I)

THE RESTORATION, MAINTENANCE, AND SUPPORT OF HISTORIC PROPERTIES ACQUIRED IN THE VICINITY OF WINCHESTER, VIRGINIA FOR EDUCATIONAL AND PUBLIC BENEFIT AND TO ENDOW A MUSEUM THAT INCLUDES 18TH AND EARLY 19TH CENTURY AMERICAN AND ENGLISH ART ALONG WITH ADDITIONS MADE TO THE COLLECTIONS.

  • THE FOUNDATION CONTINUED THE SUPPORT OF THE MUSEUM OF THE SHENANDOAH VALLEY, ITS SUPPORTED ORGANIZATION.

    Expenses $3,473,680 · Grants $3,080,500

  • THE FOUNDATION CONTINUED THE RESTORATION, PRESERVATION, AND SUPPORT OF ITS HISTORIC PROPERTIES IN THE VICINITY OF WINCHESTER, VIRGINIA.

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

Listed in Part VII

  • David Ho Roth

    CO-OPERATING TRUSTEE

    Total calculated
    $70,966
    From this org
    $70,966
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Allan G Paterson

    CO-OPERATING TRUSTEE

    Total calculated
    $109,200
    From this org
    $109,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Todd Brockwell

    TRUSTEE, SECRETARY

    Total calculated
    $67,200
    From this org
    $67,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • James T Holland

    TRUSTEE

    Total calculated
    $63,700
    From this org
    $63,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • John B Adams Jr

    TRUSTEE

    Total calculated
    $67,200
    From this org
    $67,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gerald F Smith Jr

    TRUSTEE

    Total calculated
    $67,200
    From this org
    $67,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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

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
2022
Filed
23 August 2023
IRS schema version
2022v5.0
Source object
202322359349301302

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