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Nonprofiteer
← THE GLASS-GLEN BURNIE FOUNDATION

Form 990 for tax year 2023

Filed by THE GLASS-GLEN BURNIE FOUNDATION.

Totals

Total revenue
$2,764,556
Total expenses
$5,268,743
Contributions and grants received
$0
Grants paid
$4,411,243
Program service revenue
$0
Investment income
$1,354,727
Other revenue
$1,409,829
Total assets, end of year
$49,360,899
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$49,360,899
Program services expenses (Part IX)
$4,752,742
Management and general expenses
$516,001
Fundraising expenses
$0
Program service expenses (Part III)
$4,752,742

Program services were 90.2% 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.

  • 3 · Investment income

    total $407,573 · unrelated business $98,172 · excluded $309,401

  • 5 · Royalties

    total $1,409,829 · excluded $1,409,829

  • 7a · Gross sales of assets other than inventory

    other assets $5,764,268

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

    other assets $4,817,114

  • 7c · Gain or loss

    other assets $947,154

  • 7d · Net gain or loss

    total $947,154 · excluded $947,154

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,411,243 · program services $4,411,243

  • 5 · Compensation of officers, directors and key employees

    total $405,500 · program services $227,850 · management and general $177,650

  • 9 · Other employee benefits

    total $236 · management and general $236

  • 10 · Payroll taxes

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

  • 11b · Fees: legal

    total $1,818 · management and general $1,818

  • 11c · Fees: accounting

    total $15,785 · management and general $15,785

  • 11f · Fees: investment management

    total $289,600 · management and general $289,600

  • 13 · Office expenses

    total $1,493 · management and general $1,493

  • 17 · Travel

    total $17,042 · program services $15,338 · management and general $1,704

  • 22 · Depreciation, depletion and amortization

    total $1 · management and general $1

  • 23 · Insurance

    total $33,103 · program services $13,225 · management and general $19,878

  • 24a · Other expenses: AD VALOREM TAX

    total $80,065 · program services $80,065

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $4,283 · program services $3,855 · management and general $428

  • 24c · Other expenses: TELEPHONE & INTERNET

    total $2,331 · program services $1,166 · management and general $1,165

  • 24d · Other expenses: UNRELATED BUSINESS INCO

    total $123 · management and general $123

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $345,519

  • 2 · Savings and temporary cash investments

    beginning of year $1,923,330 · end of year $2,012,807

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $503,665 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $17,920,598 · end of year $7,377,816

  • 12 · Investments: other securities

    beginning of year $32,021,157 · end of year $39,624,757

  • 15 · Other assets

    beginning of year $5,072,118 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $57,440,868 · end of year $49,360,899

Mission and programs · 2023

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 GROUDS 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 SHENADOAH 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 MUSUEM 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 MUSUEM OF THE SHENANDOAH VALLEY, ITS SUPPORTED ORGANIZATION.

    Expenses $4,752,742 · Grants $4,411,243

As filed on the 2023 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
    $92,400
    From this org
    $92,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Allan G Paterson

    CO-OPERATING TRUSTEE

    Total calculated
    $81,900
    From this org
    $81,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Todd Brockwell

    TRUSTEE, SECRETARY

    Total calculated
    $50,400
    From this org
    $50,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • John B Adams Jr

    TRUSTEE

    Total calculated
    $50,400
    From this org
    $50,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gerald F Smith Jr

    TRUSTEE

    Total calculated
    $50,400
    From this org
    $50,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jennifer Peace

    EXECUTIVE DIRECTOR

    Total calculated
    $80,000
    From this org
    $80,000
    From related orgs
    $0
    Other
    $0
    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

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
7 November 2024
IRS schema version
2023v5.1
Source object
202443139349303789

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