Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $42,500

• 1e · Government grants (contributions)

  $82,117

• 1f · All other contributions, gifts and grants

  $6,541,686

• 1g · Noncash contributions included above

  $712,002

• 2a · Program service revenue: AUXILIARY INCOME

  total $1,741,703 · related or exempt $1,741,703

• 2b · Program service revenue: ADMISSIONS

  total $839,806 · related or exempt $839,806

• 2c · Program service revenue: MEMBERSHIPS AND SUBSCR

  total $201,292 · related or exempt $201,292

• 3 · Investment income

  total $822,335 · excluded $822,335

• 5 · Royalties

  total $4,829 · excluded $4,829

• 6a · Gross rents

  real property $608,370 · personal property $75,576

• 6b · Less rental expenses

  real property $25,074 · personal property $0

• 6c · Rental income or loss

  real property $583,296 · personal property $75,576

• 6d · Net rental income or loss

  total $658,872 · unrelated business $75,576 · excluded $583,296

• 7a · Gross sales of assets other than inventory

  securities $10,717,873

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

  securities $11,082,310

• 7c · Gain or loss

  securities -$364,437

• 7d · Net gain or loss

  total -$364,437 · excluded -$364,437

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $42,500

• 8b · Fundraising events: direct expenses

  $27,399

• 8c · Net income from fundraising events

  total -$27,399 · excluded -$27,399

• 10a · Gross sales of inventory

  $1,372,810

• 10b · Cost of goods sold

  $696,030

• 10c · Net income from sales of inventory

  total $676,780 · related or exempt $329,570 · unrelated business $347,210

• 11a · Other revenue: MISCELLANEOUS

  total $453,262 · related or exempt $453,262

• 11e · Other revenue, total

  $453,262

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $725,546 · program services $448,719 · management and general $199,192 · fundraising $77,635

• 7 · Other salaries and wages

  total $3,985,543 · program services $2,464,888 · management and general $1,094,196 · fundraising $426,459

• 8 · Pension plan contributions

  total $114,309 · program services $82,349 · management and general $24,136 · fundraising $7,824

• 9 · Other employee benefits

  total $503,002 · program services $362,364 · management and general $106,206 · fundraising $34,432

• 10 · Payroll taxes

  total $377,837 · program services $247,084 · management and general $90,342 · fundraising $40,411

• 11b · Fees: legal

  total $39,813 · management and general $39,813

• 11c · Fees: accounting

  total $71,303 · management and general $71,303

• 11e · Fees: professional fundraising services

  total $50,695 · fundraising $50,695

• 11f · Fees: investment management

  total $163,712 · management and general $163,712

• 11g · Fees: other

  total $220,809 · program services $57,567 · management and general $158,356 · fundraising $4,886

• 12 · Advertising and promotion

  total $417,690 · program services $409,426 · management and general $742 · fundraising $7,522

• 13 · Office expenses

  total $266,359 · program services $132,944 · management and general $119,407 · fundraising $14,008

• 14 · Information technology

  total $229,409 · program services $64,909 · management and general $145,075 · fundraising $19,425

• 16 · Occupancy

  total $597,840 · program services $553,540 · management and general $44,300

• 17 · Travel

  total $115,482 · program services $82,064 · management and general $13,593 · fundraising $19,825

• 19 · Conferences, conventions and meetings

  total $791,109 · program services $776,684 · management and general $14,425

• 20 · Interest

  total $3,675 · management and general $3,675

• 22 · Depreciation, depletion and amortization

  total $998,435 · program services $924,450 · management and general $73,985

• 23 · Insurance

  total $322,885 · program services $292,451 · management and general $30,434

• 24a · Other expenses: EQUIPMENT LEASE AND MAI

  total $405,244 · program services $257,263 · management and general $141,916 · fundraising $6,065

• 24b · Other expenses: HONORARIUMS AND AWARDS

  total $291,196 · program services $273,117 · management and general $18,079

• 24c · Other expenses: PRINTING AND PUBLICATIO

  total $136,344 · program services $127,385 · management and general $2,749 · fundraising $6,210

• 24d · Other expenses: POSTAGE AND SHIPPING

  total $135,327 · program services $101,500 · management and general $28,023 · fundraising $5,804

• 24e · All other expenses

  total $1,431,052 · program services $540,389 · management and general $875,304 · fundraising $15,359

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,082,992 · end of year $3,441,922

• 2 · Savings and temporary cash investments

  beginning of year $896,816 · end of year $3,439,236

• 4 · Accounts receivable

  beginning of year $70,515 · end of year $256,218

• 8 · Inventories for sale or use

  beginning of year $424,846 · end of year $557,706

• 9 · Prepaid expenses and deferred charges

  beginning of year $227,474 · end of year $217,893

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

  $63,055,313

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

  $35,216,408

• 10c · Land, buildings and equipment, net

  beginning of year $26,638,393 · end of year $27,838,905

• 11 · Investments: publicly traded securities

  beginning of year $31,770,244 · end of year $21,617,718

• 12 · Investments: other securities

  beginning of year $2,362,478 · end of year $4,400,813

• 13 · Investments: program-related

  beginning of year $44,031,334 · end of year $44,830,867

• 17 · Accounts payable and accrued expenses

  beginning of year $1,058,829 · end of year $1,195,781

• 23 · Secured mortgages and notes payable

  beginning of year $125,465 · end of year $983,479

• 27 · Net assets without donor restrictions

  beginning of year $93,504,303 · end of year $89,269,427

• 28 · Net assets with donor restrictions

  beginning of year $16,816,495 · end of year $15,152,591

The filer's explanations (Part III)

PART I, LINE 1A

ALL EMPLOYEES, INCLUDING OUR PRESIDENT, MAY INCUR SOME EXPENSES FOR THE BENEFIT OF THE MUSEUM, FOR EXAMPLE TAKING A CLIENT OR DONOR TO LUNCH. THE EMPLOYEES MUST PRESENT A COPY OF THE INVOICE TO THE ACCOUNTING DEPARTMENT FOR REIMBURSEMENT. ANY EMPLOYEE CAN REQUEST A TRAVEL ADVANCE WHICH THE ACCOUNTING DEPARTMENT SETS UP AS A RECEIVABLE FROM THE EMPLOYEE UNTIL THE EMPLOYEE RETURNS FROM THEIR TRAVEL AND SUBMITS THEIR RECEIPTS WITH EITHER THE REMAINING FUNDS OR A REQUEST FOR ANY ADDITIONAL EXPENSES.

PART I, LINE 7

THE PRESIDENT AND CEO HAD THE POTENTIAL TO RECEIVE A BONUS SET ON ACHIEVABLE OBJECTIVES WHICH WERE DETERMINED BY OUR EXECUTIVE COMMITTEE. IN 2022, THE PRESIDENT AND CEO ELECTED TO WAIVE THE BONUS. IN ADDITION, THE CHIEF DEVELOPMENT OFFICER ALSO HAS THE POTENTIAL TO RECEIVE A BONUS BASED ON PERFORMANCE GOALS RELATED TO FUNDRAISING.