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Nonprofiteer
← MIDDLETON PLACE FOUNDATION

Form 990 for tax year 2023

Filed by MIDDLETON PLACE FOUNDATION.

Totals

Total revenue
$2,804,765
Total expenses
$1,770,667
Contributions and grants received
$944,410
Grants paid
$0
Program service revenue
$1,814,576
Investment income
$36,160
Other revenue
$9,619
Total assets, end of year
$39,871,584
Total liabilities, end of year
$1,049,825
Net assets or fund balances, end of year
$38,821,759
Program services expenses (Part IX)
$1,195,867
Management and general expenses
$574,800
Fundraising expenses
$0
Program service expenses (Part III)
$1,195,867

Program services were 67.5% 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

    $944,410

  • 2a · Program service revenue: GARDEN AND STABLE YARDS

    total $635,356 · related or exempt $635,356

  • 2b · Program service revenue: MIDDLETON PLACE HOUSE ADMISSIONS

    total $423,765 · related or exempt $423,765

  • 2c · Program service revenue: EDMONDSTON-ALSTON HOUSE ADMISSION

    total $338,686 · related or exempt $338,686

  • 2d · Program service revenue: CARRIAGES

    total $102,278 · related or exempt $102,278

  • 2e · Program service revenue: MEMBERSHIPS

    total $232,175 · related or exempt $232,175

  • 2f · All other program service revenue

    total $82,316 · related or exempt $82,316 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $36,160 · excluded $36,160

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 10a · Gross sales of inventory

    $1,037

  • 10c · Net income from sales of inventory

    total $1,037 · related or exempt $1,037

  • 11a · Other revenue: Miscellaneous Revenue

    total $8,582 · excluded $8,582

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $8,582

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $105,500 · management and general $105,500

  • 7 · Other salaries and wages

    total $831,623 · program services $714,271 · management and general $117,352

  • 9 · Other employee benefits

    total $44,225 · program services $34,244 · management and general $9,981

  • 10 · Payroll taxes

    total $72,184 · program services $53,854 · management and general $18,330

  • 11g · Fees: other

    total $177,223 · program services $8,064 · management and general $169,159 · fundraising $0

  • 12 · Advertising and promotion

    total $12,505 · program services $9,421 · management and general $3,084

  • 13 · Office expenses

    total $238,966 · program services $144,777 · management and general $94,189

  • 16 · Occupancy

    total $249,789 · program services $208,453 · management and general $41,336

  • 17 · Travel

    total $2,323 · program services $1,783 · management and general $540

  • 19 · Conferences, conventions and meetings

    total $333 · program services $162 · management and general $171

  • 20 · Interest

    total $17,461 · program services $17,461

  • 23 · Insurance

    total $18,173 · program services $3,015 · management and general $15,158

  • 24a · Other expenses: Conservation Expenses

    total $313 · program services $313

  • 24b · Other expenses: Exhibit Expense

    total $49 · program services $49

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $245,531 · end of year $520,477

  • 2 · Savings and temporary cash investments

    beginning of year $1,654,957 · end of year $1,918,913

  • 4 · Accounts receivable

    beginning of year $7,262,363 · end of year $8,208,153

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,234 · end of year $43,369

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

    $7,879,684

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

    $2,029,940

  • 10c · Land, buildings and equipment, net

    beginning of year $5,798,119 · end of year $5,849,744

  • 11 · Investments: publicly traded securities

    beginning of year $4,292,263 · end of year $4,292,263

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $19,038,665 · end of year $19,038,665

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $264,469 · end of year $116,993

  • 19 · Deferred revenue

    beginning of year $121,132 · end of year $232,832

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    end of year $700,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $34,917,922 · end of year $35,899,607

  • 28 · Net assets with donor restrictions

    beginning of year $3,015,609 · end of year $2,922,152

Mission and programs · 2023

Mission

TO SUSTAIN THE HIGHEST LEVELS OF PRESERVATION AND INTERPRETATION FOR THE COLLECTIONS AND PROGRAMS OF THE MIDDLETON PLACE NATIONAL HISTORIC LANDMARK, ITS GARDENS, HOUSE, PLANTATION STABLEYARDS AND THE EDMONDSTON-ALSTON HOUSE MUSEUM.

Activities or mission (Part I)

TO SUSTAIN THE HIGHEST LEVELS OF PRESERVATION AND INTERPRETATION FOR MIDDLETON PLACE.

  • The Middleton Place Foundation owns and operates the Gardens, House Museum, and Plantation Stableyards at Middleton Place and manages the Edmondston-Alston House Museum on East Battery Street in downtown Charleston.

    Expenses $1,195,867 · Revenue $1,815,613

As filed on the 2023 return.

Listed in Part VII

  • Caroline Palmer

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Michael Laughlin

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Pierre Manigault

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Richard Leadem

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Anne Tinker

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ascanio Serena

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Charles Duell

    Board Member

    Total calculated
    $196,055
    From this org
    $0
    From related orgs
    $96,055
    Other
    $100,000
    Hours/week
    1 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $96,055 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $100,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $196,055 related

  • Dr Bellinger Robert

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Earl McMillen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Hank Holliday

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Herbert Drayton

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jim Kuyk

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Greene

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lee Pringle

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Olivia Mitchell

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Sallie Duell

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Scott Bessent

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Beth Kerrigan

    Interim CEO

    Total calculated
    $107,337
    From this org
    $105,500
    From related orgs
    $0
    Other
    $1,837
    Hours/week
    1

  • Christopher Lukic

    Executive Chef

    Total calculated
    $90,850
    From this org
    $90,000
    From related orgs
    $0
    Other
    $850
    Hours/week
    40

  • Joshua Baerg

    Director of Finance

    Total calculated
    $85,414
    From this org
    $83,000
    From related orgs
    $0
    Other
    $2,414
    Hours/week
    40

  • M Todd Tracey

    CEO

    Total calculated
    $125,866
    From this org
    $125,000
    From related orgs
    $0
    Other
    $866
    Hours/week
    40

  • Mark Solomon

    VP Hospitality

    Total calculated
    $126,298
    From this org
    $125,000
    From related orgs
    $0
    Other
    $1,298
    Hours/week
    40

  • Sidney Frazier

    VP Horticulture

    Total calculated
    $83,850
    From this org
    $82,500
    From related orgs
    $0
    Other
    $1,350
    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations 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.

  • MIDDLETON PLACE PRESERVATION FOUNDATION

    501(c)(3) · TO SERVE AS DONOR AND TRUSTEE OF THE MIDDLETON PLACE FOUNDATION · SC

    Directly controlled by na

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.

  • MIDDLETON OPERATING CORPORATION

    C Corporation · TOURS & RENTALS · SC · 100% owned · share of income $0 · share of assets $837 · controlled entity

    Directly controlled by Middleton Place Foundation

  • MIDDLETON PLACE REGISTERED NATIONAL HISTORIC LANDMARK INC

    C Corporation · ADMISSIONS, MUSEUM SHOP & CATERING/RESTAURANT · SC · 100% owned · share of income $4,568,989 · share of assets $3,832,533 · controlled entity

    Directly controlled by Middleton Place Foundation

  • The Inn at Middleton Place LLC

    C Corporation · Inn/Lodging · SC · 100% owned · share of income $2,041,005 · share of assets $9,701,590 · controlled entity

    Directly controlled by Middleton Place Foundation

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202521349349309337

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