Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $244,199

• 1e · Government grants (contributions)

  $2,561,115

• 1f · All other contributions, gifts and grants

  $10,075,314

• 2a · Program service revenue: PUBLIC EDUCATION

  total $373,262 · related or exempt $373,262

• 2b · Program service revenue: ADMISSIONS

  total $309,990 · related or exempt $309,990

• 2c · Program service revenue: AUXILIARY ACTIVITIES

  total $135,429 · related or exempt $135,429

• 3 · Investment income

  total $3,236,828 · excluded $3,236,828

• 6a · Gross rents

  personal property $86,763

• 6b · Less rental expenses

  real property $93,615 · personal property $100,871

• 6c · Rental income or loss

  real property -$93,615 · personal property -$14,108

• 6d · Net rental income or loss

  total -$107,723 · unrelated business -$14,108 · excluded -$93,615

• 7a · Gross sales of assets other than inventory

  securities $14,695,767

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

  securities $16,155,946 · other assets $265,432

• 7c · Gain or loss

  securities -$1,460,179 · other assets -$265,432

• 7d · Net gain or loss

  total -$1,725,611 · related or exempt -$265,432 · excluded -$1,460,179

• 10a · Gross sales of inventory

  $312,572

• 10b · Cost of goods sold

  $159,609

• 10c · Net income from sales of inventory

  total $152,963 · related or exempt $152,963

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $53,767 · program services $53,767

• 5 · Compensation of officers, directors and key employees

  total $607,138 · program services $443,211 · management and general $115,356 · fundraising $48,571

• 7 · Other salaries and wages

  total $5,057,245 · program services $3,733,227 · management and general $705,141 · fundraising $618,877

• 8 · Pension plan contributions

  total $247,508 · program services $110,776 · management and general $120,955 · fundraising $15,777

• 9 · Other employee benefits

  total $497,375 · program services $282,660 · management and general $159,847 · fundraising $54,868

• 10 · Payroll taxes

  total $409,216 · program services $271,662 · management and general $91,725 · fundraising $45,829

• 11b · Fees: legal

  total $288,607 · management and general $288,607

• 11c · Fees: accounting

  total $37,200 · management and general $37,200

• 11f · Fees: investment management

  total $536,132 · management and general $536,132

• 11g · Fees: other

  total $9,330 · management and general $9,330

• 12 · Advertising and promotion

  total $215,299 · program services $207,115 · fundraising $8,184

• 13 · Office expenses

  total $368,224 · program services $174,766 · management and general $173,002 · fundraising $20,456

• 14 · Information technology

  total $18,317 · management and general $18,317

• 16 · Occupancy

  total $462,284 · program services $462,284

• 17 · Travel

  total $180,693 · program services $100,006 · management and general $36,525 · fundraising $44,162

• 22 · Depreciation, depletion and amortization

  total $980,196 · program services $810,804 · management and general $169,392

• 23 · Insurance

  total $224,249 · program services $145,404 · management and general $78,845

• 24a · Other expenses: CONTRACT SERVICES

  total $921,189 · program services $396,258 · management and general $457,781 · fundraising $67,150

• 24b · Other expenses: COLLECTION ITEMS

  total $767,301 · program services $767,301

• 24c · Other expenses: REPAIRS AND MAINTENANCE

  total $476,316 · program services $391,559 · management and general $84,257 · fundraising $500

• 24d · Other expenses: PROGRAM EXPENSES

  total $214,078 · program services $214,078

• 24e · All other expenses

  total $186,254 · program services $129,470 · management and general $52,873 · fundraising $3,911

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $10,140,094 · end of year $12,821,888

• 3 · Pledges and grants receivable

  beginning of year $13,754,593 · end of year $6,428,259

• 4 · Accounts receivable

  beginning of year $464,733 · end of year $329,499

• 8 · Inventories for sale or use

  beginning of year $96,042 · end of year $103,967

• 9 · Prepaid expenses and deferred charges

  beginning of year $376,851 · end of year $605,223

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

  $43,759,694

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

  $21,142,042

• 10c · Land, buildings and equipment, net

  beginning of year $14,541,453 · end of year $22,617,652

• 11 · Investments: publicly traded securities

  beginning of year $80,711,246 · end of year $86,198,120

• 12 · Investments: other securities

  beginning of year $28,558,191 · end of year $29,256,527

• 15 · Other assets

  end of year $63,661

• 17 · Accounts payable and accrued expenses

  beginning of year $1,794,523 · end of year $1,642,172

• 19 · Deferred revenue

  beginning of year $803,823 · end of year $1,192,021

• 25 · Other liabilities

  beginning of year $0 · end of year $64,467

• 27 · Net assets without donor restrictions

  beginning of year $23,019,521 · end of year $32,792,714

• 28 · Net assets with donor restrictions

  beginning of year $123,025,336 · end of year $122,733,422

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION PAYS FOR THE MEMBERSHIP DUES FOR THE WORCESTER CLUB ON BEHALF OF THE MUSEUM'S DIRECTOR. THE MUSEUM'S DIRECTOR HAS AN EMPLOYMENT AGREEMENT, WHICH ENTITLES HIM TO A ANNUAL DISCRETIONARY BONUS OF UP TO 10% OF HIS BASE SALARY AND A DISCRETIONARY SUPPLEMENTAL RETIREMENT BENEFIT OF 10% OF BASE SALARY. TOTAL CASH PAID OF $12,002 INCLUDING BONUS AND SUPPLEMENTAL RETIREMENT BENEFIT.