Totals
- Total revenue
- $2,136,870
- Total expenses
- $2,693,303
- Contributions and grants received
- $848,373
- Grants paid
- $0
- Program service revenue
- $468,751
- Investment income
- $66,034
- Other revenue
- $753,712
- Total assets, end of year
- $3,923,107
- Total liabilities, end of year
- $2,590,023
- Net assets or fund balances, end of year
- $1,333,084
- Program services expenses (Part IX)
- $1,966,497
- Management and general expenses
- $348,723
- Fundraising expenses
- $378,083
- Program service expenses (Part III)
- $1,966,497
Program services were 73.0% 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
$133,014
-
1e · Government grants (contributions)
$131,821
-
1f · All other contributions, gifts and grants
$583,538
-
2a · Program service revenue: ADMISSIONS
total $436,167 · related or exempt $436,167
-
2b · Program service revenue: MEMBERSHIP DUES
total $30,597 · related or exempt $30,597
-
2c · Program service revenue: ARCHIVE & COLL. FEES
total $1,987 · related or exempt $1,987
-
3 · Investment income
total $66,034 · excluded $66,034
-
6a · Gross rents
real property $737,375
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $737,375
-
6d · Net rental income or loss
total $737,375 · excluded $737,375
-
8a · Fundraising events: gross income
$49,200
-
8a · Fundraising events: contributions included on line 1c
$133,014
-
8b · Fundraising events: direct expenses
$54,107
-
8c · Net income from fundraising events
total -$4,907 · excluded -$4,907
-
10a · Gross sales of inventory
$38,555
-
10b · Cost of goods sold
$21,569
-
10c · Net income from sales of inventory
total $16,986 · excluded $16,986
-
11a · Other revenue: FARMERS MARKET INCOME
total $4,258 · unrelated business $4,258
-
11e · Other revenue, total
$4,258
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $214,524 · program services $148,022 · management and general $30,033 · fundraising $36,469
-
7 · Other salaries and wages
total $1,021,924 · program services $705,126 · management and general $143,070 · fundraising $173,728
-
9 · Other employee benefits
total $181,636 · program services $125,329 · management and general $25,429 · fundraising $30,878
-
10 · Payroll taxes
total $98,813 · program services $68,181 · management and general $13,834 · fundraising $16,798
-
11c · Fees: accounting
total $24,432 · program services $22,477 · management and general $489 · fundraising $1,466
-
11g · Fees: other
total $130,057 · program services $115,513 · management and general $3,690 · fundraising $10,854
-
12 · Advertising and promotion
total $21,342 · program services $20,275 · fundraising $1,067
-
13 · Office expenses
total $82,207 · program services $61,655 · management and general $3,288 · fundraising $17,264
-
14 · Information technology
total $59,080 · program services $45,492 · management and general $591 · fundraising $12,997
-
16 · Occupancy
total $241,079 · program services $155,730 · management and general $85,349
-
17 · Travel
total $5,823 · program services $5,648 · fundraising $175
-
20 · Interest
total $111,081 · program services $94,419 · management and general $9,997 · fundraising $6,665
-
22 · Depreciation, depletion and amortization
total $226,020 · program services $164,995 · management and general $29,383 · fundraising $31,642
-
23 · Insurance
total $35,700 · program services $29,988 · management and general $3,570 · fundraising $2,142
-
24a · Other expenses: EXHIBIT DEVELOPMENT COS
total $239,585 · program services $203,647 · fundraising $35,938
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,630,712 · end of year $1,196,328
-
2 · Savings and temporary cash investments
beginning of year $146,961 · end of year $65,333
-
4 · Accounts receivable
beginning of year $43,817 · end of year $61,556
-
8 · Inventories for sale or use
beginning of year $16,750 · end of year $16,750
-
9 · Prepaid expenses and deferred charges
beginning of year $10,660 · end of year $23,291
-
10a · Land, buildings and equipment: cost or other basis
$9,037,732
-
10b · Land, buildings and equipment: accumulated depreciation
$7,478,731
-
10c · Land, buildings and equipment, net
beginning of year $1,782,192 · end of year $1,559,001
-
11 · Investments: publicly traded securities
beginning of year $713,244 · end of year $789,478
-
15 · Other assets
beginning of year $215,044 · end of year $211,370
-
17 · Accounts payable and accrued expenses
beginning of year $196,266 · end of year $173,151
-
19 · Deferred revenue
beginning of year $186,255 · end of year $179,668
-
23 · Secured mortgages and notes payable
beginning of year $2,320,667 · end of year $2,237,204
-
27 · Net assets without donor restrictions
beginning of year $1,612,273 · end of year $1,201,339
-
28 · Net assets with donor restrictions
beginning of year $243,919 · end of year $131,745
Mission and programs · 2023
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: DURING FY2024, THE NUMBER OF ON-SITE FIELD TRIPS CONTINUED TO INCREASE FROM THE PRIOR YEAR. AND WHILE THE BMI CONTINUED TO OFFER VIRTUAL AND OFF-SITE ACTIVITIES, THE MAJORITY OF TEACHERS OPTED FOR IN-PERSON TOURS AND HANDS-ON PROGRAMS, LIKE OUR KIDS' CANNERY AND KIDS' MOTORWORKS. DURING THE FY24 SCHOOL YEAR, THE MUSEUM SERVED MORE THAN 23,000 STUDENTS, TEACHERS AND CHAPERONES. YEAR-OVER-YEAR, APPROXIMATELY 60% OF THE BMI'S FIELDTRIP AUDIENCE ARE REPEAT VISITORS, A TESTAMENT TO THE TRUST TEACHERS HAVE IN THE BMI TO PROVIDE IMPACTFUL AND EFFECTIVE EDUCATIONAL PROGRAMMING. THE BMI ALSO CONTINUED TO OFFER THE MARYLAND ENGINEERING CHALLENGES IN FY24, SERVING APPROX. 500 YOUNG ENGINEERS IN THE CHALLENGES HELD ON THE BMI'S CAMPUS.
Expenses $1,365,924 · Revenue $325,593
-
EXHIBITIONS & COLLECTIONS: EXHIBITIONS PROVIDE A PHYSICAL MANIFESTATION OF THE BMI'S MISSION TO PRESERVE AND INTERPRET BALTIMORE'S INDUSTRIAL STORY. IN 2024, THE BMI LAUNCHED ECHOES FROM THE KEY BRIDGE, A MULTI-YEAR INITIATIVE DEDICATED TO DOCUMENTING AND PRESERVING THE STORIES SURROUNDING THE COLLAPSE OF THE FRANCIS SCOTT KEY BRIDGE. IN MAY 2024, WE DEBUTED COLLECTIVE ACTION: LABOR ACTIVISM IN 21ST CENTURY BALTIMORE, AN EXHIBITION SPOTLIGHTING THE VOICES OF WORKERS WHO HAVE ORGANIZED FOR BETTER WORKPLACE CONDITIONS. LOOKING FORWARD, WE ARE PLANNING AN EXHIBITION ON CLEAN ENERGY AND A RETRO EXHIBITION ON THE PHOTOGRAPHY OF I. HENRY PHILLIPS, SR.
Expenses $597,130 · Revenue $142,337
-
PUBLIC PROGRAMMING: THE BMI LAUNCHED TWO NEW PROGRAM SERIES IN FY24 IN SUPPORT OF THE MUSEUM'S REVISED MISSION STATEMENT FOCUSED ON WORK AND WORKERS. THE MONTHLY INDUSTRY SOCIAL CLUB SERIES FOCUSED ON 10 DIFFERENT INDUSTRIES, BRINGING EXPERTS TOGETHER WITH COLLEAGUES IN THE FIELD TO NETWORK AND DISCUSS TIMELY ISSUES FACING THEIR PARTICULAR SECTOR. THE SECOND SERIES, LABOR + INNOVATION, EXPLORED THE INTERSECTION OF WORK AND CREATIVITY, BRINGING WELL-KNOWN CREATORS TO THE MUSEUM TO SHARE THEIR STORIES WITH THE COMMUNITY. LASTLY, THE BMI CONTINUED ITS POPULAR SEASONAL FARMERS MARKET, THEMATIC TOURS, AND LECTURES. ALL TOGETHER, THE MUSEUM SERVED 190,658 GUESTS.
Expenses $3,443 · Revenue $821
As filed on the 2023 return.
Listed in Part VII
-
Michael RaphaelMICHAEL RAPHAEL
CHAIR, TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jay NwachuJAY NWACHU
VICE CHAIR, TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bryan PorterBRYAN PORTER
TREASURER, TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Madeline StokesMADELINE STOKES
SECRETARY, TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Chris BeddardCHRIS BEDDARD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Boi CarpenterBOI CARPENTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Linsley CarruthLINSLEY CARRUTH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James DeriuJAMES DERIU
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Matthew DoudMATTHEW DOUD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Scott EnsorSCOTT ENSOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Andy FrankANDY FRANK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Smitha GopalSMITHA GOPAL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Darius GrahamDARIUS GRAHAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Quincy GoldsmithQUINCY GOLDSMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Joe KovarsJOE KOVARS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Laura McCoyLAURA MCCOY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jen McLaughlinJEN MCLAUGHLIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Janet NovakJANET NOVAK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Destiny-Simone RamjohnDESTINY-SIMONE RAMJOHN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Paul SugarPAUL SUGAR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Phil TulkoffPHIL TULKOFF
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Corkia WhiteCORKIA WHITE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anita KassofANITA KASSOF
EXECUTIVE DIRECTOR
- Total calculated
- $145,838
- From this org
- $127,776
- From related orgs
- $0
- Other
- $18,062
- Hours/week
- 40
-
Margaret De ArcangelisMARGARET DE ARCANGELIS
DEPUTY DIRECTOR
- Total calculated
- $79,750
- From this org
- $74,369
- From related orgs
- $0
- Other
- $5,381
- 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
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541359349305249
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