Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $36,846

• 1e · Government grants (contributions)

  $870,729

• 1f · All other contributions, gifts and grants

  $17,885,299

• 1g · Noncash contributions included above

  $371,634

• 2a · Program service revenue: AUXILIARY INCOME

  total $1,531,769 · related or exempt $1,531,769

• 2b · Program service revenue: ADMISSIONS

  total $945,509 · related or exempt $945,509

• 2c · Program service revenue: MEMBERSHIPS AND SUBSCR

  total $220,976 · related or exempt $220,976

• 3 · Investment income

  total $828,480 · excluded $828,480

• 5 · Royalties

  total $3,081 · excluded $3,081

• 6a · Gross rents

  real property $467,596 · personal property $299,237

• 6b · Less rental expenses

  real property $63,481 · personal property $0

• 6c · Rental income or loss

  real property $404,115 · personal property $299,237

• 6d · Net rental income or loss

  total $703,352 · unrelated business $299,237 · excluded $404,115

• 7a · Gross sales of assets other than inventory

  securities $12,884,593

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

  securities $13,252,353

• 7c · Gain or loss

  securities -$367,760

• 7d · Net gain or loss

  total -$367,760 · excluded -$367,760

• 8a · Fundraising events: gross income

  $0

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

  $36,846

• 8b · Fundraising events: direct expenses

  $42,389

• 8c · Net income from fundraising events

  total -$42,389 · excluded -$42,389

• 10a · Gross sales of inventory

  $1,372,624

• 10b · Cost of goods sold

  $767,148

• 10c · Net income from sales of inventory

  total $605,476 · related or exempt $231,351 · unrelated business $374,125

• 11a · Other revenue: MISCELLANEOUS

  total $525,198 · related or exempt $525,198

• 11e · Other revenue, total

  $525,198

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $723,253 · program services $343,897 · management and general $240,394 · fundraising $138,962

• 7 · Other salaries and wages

  total $4,737,091 · program services $2,252,421 · management and general $1,574,510 · fundraising $910,160

• 8 · Pension plan contributions

  total $150,718 · program services $88,842 · management and general $39,039 · fundraising $22,837

• 9 · Other employee benefits

  total $452,216 · program services $266,562 · management and general $117,133 · fundraising $68,521

• 10 · Payroll taxes

  total $395,925 · program services $208,700 · management and general $120,509 · fundraising $66,716

• 11b · Fees: legal

  total $176,667 · management and general $176,667

• 11c · Fees: accounting

  total $79,510 · management and general $79,510

• 11e · Fees: professional fundraising services

  total $92,118 · fundraising $92,118

• 11f · Fees: investment management

  total $116,055 · management and general $116,055

• 11g · Fees: other

  total $175,206 · program services $59,143 · management and general $105,765 · fundraising $10,298

• 12 · Advertising and promotion

  total $463,854 · program services $54,768 · management and general $5,433 · fundraising $403,653

• 13 · Office expenses

  total $352,516 · program services $64,053 · management and general $250,297 · fundraising $38,166

• 14 · Information technology

  total $265,089 · program services $3,675 · management and general $221,689 · fundraising $39,725

• 16 · Occupancy

  total $580,522 · program services $537,506 · management and general $43,016

• 17 · Travel

  total $123,496 · program services $60,111 · management and general $24,548 · fundraising $38,837

• 19 · Conferences, conventions and meetings

  total $897,623 · program services $862,146 · management and general $35,477

• 20 · Interest

  total $96,819 · management and general $96,819

• 22 · Depreciation, depletion and amortization

  total $1,000,041 · program services $925,938 · management and general $74,103

• 23 · Insurance

  total $331,805 · program services $304,166 · management and general $27,639

• 24a · Other expenses: EQUIPMENT LEASE AND MAI

  total $635,941 · program services $166,495 · management and general $461,592 · fundraising $7,854

• 24b · Other expenses: HONORARIUMS AND AWARDS

  total $242,711 · program services $215,007 · management and general $27,704

• 24c · Other expenses: PRINTING AND PUBLICATIO

  total $134,456 · program services $90,471 · management and general $2,701 · fundraising $41,284

• 24d · Other expenses: SUPPLIES

  total $83,122 · program services $8,450 · management and general $74,672

• 24e · All other expenses

  total $175,401 · program services $38,232 · management and general $132,307 · fundraising $4,862

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,441,922 · end of year $4,615,907

• 2 · Savings and temporary cash investments

  beginning of year $3,439,236 · end of year $486,198

• 3 · Pledges and grants receivable

  end of year $7,828,960

• 4 · Accounts receivable

  beginning of year $256,218 · end of year $341,719

• 8 · Inventories for sale or use

  beginning of year $557,706 · end of year $548,257

• 9 · Prepaid expenses and deferred charges

  beginning of year $217,893 · end of year $242,392

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

  $67,020,665

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

  $36,216,449

• 10c · Land, buildings and equipment, net

  beginning of year $27,838,905 · end of year $30,804,216

• 11 · Investments: publicly traded securities

  beginning of year $21,617,718 · end of year $26,368,200

• 12 · Investments: other securities

  beginning of year $4,400,813 · end of year $4,989,472

• 13 · Investments: program-related

  beginning of year $44,830,867 · end of year $45,337,193

• 17 · Accounts payable and accrued expenses

  beginning of year $1,195,781 · end of year $1,429,649

• 23 · Secured mortgages and notes payable

  beginning of year $983,479 · end of year $958,076

• 27 · Net assets without donor restrictions

  beginning of year $89,269,427 · end of year $94,426,221

• 28 · Net assets with donor restrictions

  beginning of year $15,152,591 · end of year $24,748,568

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 ADDITION, THE CHIEF DEVELOPMENT OFFICER ALSO HAS THE POTENTIAL TO RECEIVE A BONUS BASED ON PERFORMANCE GOALS RELATED TO FUNDRAISING. THE MAJOR GIFTS OFFICER AND VP OF GRANT AND EDUCATION ADVANCEMENT POSITIONS ARE BOTH ELIGIBLE FOR A BONUS BASED ON FUNDRAISING ATTAINMENT.