Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $423,887

• 1c · Fundraising events

  $694,100

• 1e · Government grants (contributions)

  $778,868

• 1f · All other contributions, gifts and grants

  $7,080,452

• 2a · Program service revenue: ADMISSION FEES

  total $2,367,309 · related or exempt $2,367,309

• 2b · Program service revenue: PUBLIC PROGRAMS FEES

  total $190,230 · related or exempt $190,230

• 3 · Investment income

  total $159,919 · excluded $159,919

• 5 · Royalties

  total $32,713 · excluded $32,713

• 6a · Gross rents

  real property $1,292,826

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,292,826

• 6d · Net rental income or loss

  total $1,292,826 · excluded $1,292,826

• 7a · Gross sales of assets other than inventory

  securities $1,449,331 · other assets $2,100

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

  securities $1,456,013 · other assets $0

• 7c · Gain or loss

  securities -$6,682 · other assets $2,100

• 7d · Net gain or loss

  total -$4,582 · excluded -$4,582

• 8a · Fundraising events: gross income

  $928,041

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

  $694,100

• 8b · Fundraising events: direct expenses

  $467,336

• 8c · Net income from fundraising events

  total $460,705 · excluded $460,705

• 10a · Gross sales of inventory

  $822,056

• 10b · Cost of goods sold

  $302,611

• 10c · Net income from sales of inventory

  total $519,445 · related or exempt $519,445

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $95,373 · excluded $95,373

• 11e · Other revenue, total

  $95,373

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $454,802 · program services $297,196 · management and general $90,960 · fundraising $66,646

• 7 · Other salaries and wages

  total $4,015,646 · program services $3,621,512 · management and general $268,370 · fundraising $125,764

• 8 · Pension plan contributions

  total $51,450 · program services $43,557 · management and general $3,249 · fundraising $4,644

• 9 · Other employee benefits

  total $269,888 · program services $252,927 · management and general $11,841 · fundraising $5,120

• 10 · Payroll taxes

  total $361,574 · program services $318,854 · management and general $26,327 · fundraising $16,393

• 11b · Fees: legal

  total $2,475 · program services $1,735 · management and general $245 · fundraising $495

• 11c · Fees: accounting

  total $84,420 · program services $65,436 · management and general $1,575 · fundraising $17,409

• 11f · Fees: investment management

  total $41,728 · management and general $41,728

• 11g · Fees: other

  total $1,185,469 · program services $950,436 · management and general $405,487 · fundraising -$170,454

• 12 · Advertising and promotion

  total $825,659 · program services $525,056 · management and general $1,864 · fundraising $298,739

• 13 · Office expenses

  total $625,982 · program services $554,890 · management and general $24,438 · fundraising $46,654

• 16 · Occupancy

  total $1,264,621 · program services $1,223,580 · management and general $11,257 · fundraising $29,784

• 20 · Interest

  total $909,193 · program services $891,009 · management and general $9,092 · fundraising $9,092

• 22 · Depreciation, depletion and amortization

  total $2,183,210 · program services $2,139,546 · management and general $21,832 · fundraising $21,832

• 24a · Other expenses: EXHIBITION MAINTENANCE

  total $919,753 · program services $919,753

• 24b · Other expenses: BUILDING AND EQUIPMENT

  total $444,910 · program services $436,012 · management and general $4,449 · fundraising $4,449

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,004,905 · end of year $1,420,836

• 2 · Savings and temporary cash investments

  beginning of year $361,358 · end of year $221,700

• 3 · Pledges and grants receivable

  beginning of year $5,905,146 · end of year $2,457,222

• 4 · Accounts receivable

  beginning of year $44,066 · end of year $424,073

• 8 · Inventories for sale or use

  beginning of year $292,575 · end of year $257,558

• 9 · Prepaid expenses and deferred charges

  beginning of year $360,650 · end of year $423,737

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

  $95,774,870

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

  $26,695,747

• 10c · Land, buildings and equipment, net

  beginning of year $68,070,305 · end of year $69,079,123

• 11 · Investments: publicly traded securities

  beginning of year $5,178,705 · end of year $5,701,777

• 15 · Other assets

  beginning of year $420,963 · end of year $466,520

• 17 · Accounts payable and accrued expenses

  beginning of year $3,014,373 · end of year $2,133,055

• 19 · Deferred revenue

  beginning of year $125,309 · end of year $174,335

• 22 · Loans and payables to officers and key people

  beginning of year $500,000 · end of year $500,000

• 23 · Secured mortgages and notes payable

  beginning of year $16,581,320 · end of year $16,389,818

• 24 · Unsecured notes and loans payable

  beginning of year $492,440 · end of year $404,891

• 25 · Other liabilities

  beginning of year $242,742 · end of year $377,975

• 27 · Net assets without donor restrictions

  beginning of year $44,875,982 · end of year $51,433,280

• 28 · Net assets with donor restrictions

  beginning of year $15,806,507 · end of year $9,039,192

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3

ESTABLISHING COMPENSATION: A COMMITTEE HEADED BY THE CHAIR OF THE WITTE BOARD OF TRUSTEE REVIEWS THE PERFORMANCE AND CONTRACT FOR THE PRESIDENT & CEO. DATA IS OBTAINED FROM OTHER NON-PROFIT ORGANIZATIONS AND SIMILAR LOCAL AND NATIONAL NON-PROFIT OPERATING ENTITIES, WHICH INCLUDE NATIONAL MUSEUMS WITH COMPARABLE OPERATIONS, CAPITAL AND EXPANSION EXECUTION. THE INFORMATION IS PRESENTED TO THE EXECUTIVE COMMITTEE IN EXECUTIVE SESSION WITH THE RECOMMENDATION FOR THE SALARY AND CONTRACT FOR THE PRESIDENT & CEO. THE CONTRACT IS APPROVED BY THE EXECUTIVE COMMITTEE. THE CONTRACT IS REVIEWED ANNUALLY. THE REVIEW OF THE CONTRACT WAS PERFORMED IN SEPTEMBER 2021 FOR FISCAL YEAR 2022. (THE CONTRACT IS OCTOBER 2016 - SEPTEMBER 2021, AND HAS BEEN EXTENDED 2 YEARS TO DECEMBER 2023.)