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Nonprofiteer
← MINNESOTA MARINE ART MUSEUM

Form 990 for tax year 2024

Filed by MINNESOTA MARINE ART MUSEUM.

Totals

Total revenue
$1,644,169
Total expenses
$2,594,992
Contributions and grants received
$663,159
Grants paid
$0
Program service revenue
$169,358
Investment income
$773,135
Other revenue
$38,517
Total assets, end of year
$25,932,069
Total liabilities, end of year
$108,912
Net assets or fund balances, end of year
$25,823,157
Program services expenses (Part IX)
$2,245,298
Management and general expenses
$223,857
Fundraising expenses
$125,837
Program service expenses (Part III)
$2,245,298

Program services were 86.5% 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.

  • 1f · All other contributions, gifts and grants

    $663,159

  • 1g · Noncash contributions included above

    $12,120

  • 2a · Program service revenue: MUSEUM OPERATIONS

    total $141,707 · related or exempt $141,707

  • 2b · Program service revenue: EDUCATION INCOME

    total $27,651 · related or exempt $27,651

  • 3 · Investment income

    total $318,676 · excluded $318,676

  • 7a · Gross sales of assets other than inventory

    securities $3,938,004

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

    securities $3,483,545

  • 7c · Gain or loss

    securities $454,459

  • 7d · Net gain or loss

    total $454,459 · excluded $454,459

  • 10a · Gross sales of inventory

    $101,319

  • 10b · Cost of goods sold

    $62,802

  • 10c · Net income from sales of inventory

    total $38,517 · related or exempt $38,517

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $115,592 · program services $46,309 · management and general $46,189 · fundraising $23,094

  • 7 · Other salaries and wages

    total $748,290 · program services $556,064 · management and general $105,179 · fundraising $87,047

  • 8 · Pension plan contributions

    total $14,226 · program services $13,214 · management and general $972 · fundraising $40

  • 9 · Other employee benefits

    total $88,791 · program services $64,354 · management and general $13,711 · fundraising $10,726

  • 10 · Payroll taxes

    total $59,080 · program services $44,685 · management and general $11,333 · fundraising $3,062

  • 11c · Fees: accounting

    total $30,519 · program services $2,390 · management and general $28,129

  • 11f · Fees: investment management

    total $73,799 · program services $73,799

  • 11g · Fees: other

    total $91,072 · program services $91,072

  • 12 · Advertising and promotion

    total $93,788 · program services $93,788

  • 16 · Occupancy

    total $69,809 · program services $69,809

  • 19 · Conferences, conventions and meetings

    total $13,482 · program services $13,268 · fundraising $214

  • 22 · Depreciation, depletion and amortization

    total $202,104 · program services $191,999 · management and general $10,105

  • 23 · Insurance

    total $54,264 · program services $54,214 · management and general $50

  • 24a · Other expenses: PROGRAM EXPENSES

    total $675,349 · program services $675,349

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $120,932 · program services $120,932

  • 24c · Other expenses: MISCELLANEOUS

    total $51,301 · program services $66,562 · management and general $8,189 · fundraising -$23,450

  • 24d · Other expenses: SUPPLIES

    total $38,893 · program services $38,893

  • 24e · All other expenses

    total $53,701 · program services $28,597 · fundraising $25,104

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $432,744 · end of year $665,192

  • 3 · Pledges and grants receivable

    beginning of year $148,147 · end of year $135,053

  • 8 · Inventories for sale or use

    beginning of year $78,669 · end of year $72,322

  • 9 · Prepaid expenses and deferred charges

    beginning of year $56,585 · end of year $113,196

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

    $10,847,474

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

    $4,247,717

  • 10c · Land, buildings and equipment, net

    beginning of year $6,513,958 · end of year $6,599,757

  • 11 · Investments: publicly traded securities

    beginning of year $10,362,090 · end of year $9,463,871

  • 15 · Other assets

    beginning of year $8,882,678 · end of year $8,882,678

  • 17 · Accounts payable and accrued expenses

    beginning of year $61,668 · end of year $81,771

  • 19 · Deferred revenue

    beginning of year $26,636 · end of year $27,141

  • 27 · Net assets without donor restrictions

    beginning of year $15,872,288 · end of year $16,250,137

  • 28 · Net assets with donor restrictions

    beginning of year $10,514,279 · end of year $9,573,020

Mission and programs · 2024

Mission

THE MINNESOTA MARINE ART MUSEUM ENGAGES VISITORS IN MEANINGFUL VISUAL ART EXPERIENCES THROUGH EDUCATION AND EXHIBITIONS THAT EXPLORE THE ONGOING AND HISTORIC HUMAN RELATIONSHIP WITH WATER.

  • OPERATING MUSEUM FOR THE PUBLIC, PROVIDING EXHIBITIONS AND CARING FORCOLLECTIONS OF MARINE ART AND ARTIFACTS, AND REGIONAL, NATIONAL, AND INTERNATIONAL HISTORIC, MODERN, AND CONTEMPORARY ART.

    Expenses $1,962,196 · Revenue $141,707

  • PROVIDED SIGNIFICANT EDUCATIONAL OPPORTUNITIES FOR ALL AGES AND ABILITIES INCLUDING TOURS, ART-MAKING CLASSES, LECTURES, WORKSHOPS, GALLERY ACTIVITIES, OUTREACH EVENTS, FAMILY AND INDIVIDUAL PROGRAMMING, AND MORE.

    Expenses $283,102 · Revenue $27,651

As filed on the 2024 return.

Listed in Part VII

  • Sabina Bosshard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Greg Neidhart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Bill Hoel

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Anne Scott Plummer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tamara Aupaumut

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nancy Blankfard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Laura Cederberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Edward Hoffman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peter Shortridge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Leanne Poellinger

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Marlena Myles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kathy Solum

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Scott Pollock

    EXECUTIVE DIRECTOR

    Total calculated
    $115,592
    From this org
    $108,076
    From related orgs
    $0
    Other
    $7,516
    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.

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202543169349302119

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