Totals
- Total revenue
- $2,708,328
- Total expenses
- $3,381,509
- Contributions and grants received
- $2,773,387
- Grants paid
- $95,000
- Program service revenue
- $302,749
- Investment income
- $19
- Other revenue
- -$367,827
- Total assets, end of year
- $3,738,788
- Total liabilities, end of year
- $3,202,377
- Net assets or fund balances, end of year
- $536,411
- Program services expenses (Part IX)
- $963,624
- Management and general expenses
- $1,961,948
- Fundraising expenses
- $455,937
- Program service expenses (Part III)
- $963,624
Program services were 28.5% 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.
-
1b · Membership dues
$185,595
-
1f · All other contributions, gifts and grants
$2,587,792
-
2a · Program service revenue: DAILY ADMISSION FEES
total $302,749 · related or exempt $302,749
-
3 · Investment income
total $19 · excluded $19
-
6a · Gross rents
real property $13,380
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $13,380
-
6d · Net rental income or loss
total $13,380 · excluded $13,380
-
8a · Fundraising events: gross income
$2,987,260
-
8b · Fundraising events: direct expenses
$3,458,977
-
8c · Net income from fundraising events
total -$471,717 · excluded -$471,717
-
10a · Gross sales of inventory
$70,194
-
10b · Cost of goods sold
$64,262
-
10c · Net income from sales of inventory
total $5,932 · unrelated business $5,932
-
11a · Other revenue: MERCH SALES
total $53,514 · related or exempt $53,514
-
11b · Other revenue: MISCELLANEOUS INCOME
total $31,064 · related or exempt $31,064
-
11e · Other revenue, total
$84,578
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $95,000 · program services $95,000
-
7 · Other salaries and wages
total $367,458 · program services $110,237 · management and general $73,492 · fundraising $183,729
-
10 · Payroll taxes
total $33,864 · program services $10,159 · management and general $6,773 · fundraising $16,932
-
11b · Fees: legal
total $125,264 · program services $41,337 · management and general $42,589 · fundraising $41,338
-
11c · Fees: accounting
total $29,003 · program services $29,003
-
11g · Fees: other
total $38,115 · program services $38,115
-
12 · Advertising and promotion
total $405,117 · program services $202,559 · fundraising $202,558
-
13 · Office expenses
total $23,723 · management and general $23,723
-
14 · Information technology
total $2,472 · program services $2,472
-
17 · Travel
total $7,498 · program services $7,498
-
19 · Conferences, conventions and meetings
total $34,485 · program services $11,380 · management and general $11,725 · fundraising $11,380
-
20 · Interest
total $3,244 · management and general $3,244
-
22 · Depreciation, depletion and amortization
total $6,336 · management and general $6,336
-
23 · Insurance
total $66,792 · program services $66,792
-
24a · Other expenses: IN KIND CONTRIBUTION EX
total $1,399,224 · management and general $1,399,224
-
24b · Other expenses: RENT
total $375,946 · management and general $375,946
-
24c · Other expenses: AUTOMOBILE MAINTENANCE
total $117,606 · program services $117,606
-
24d · Other expenses: DONATIONS
total $106,550 · program services $106,550
-
24e · All other expenses
total $143,812 · program services $124,916 · management and general $18,896
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $32,869 · end of year $45,820
-
4 · Accounts receivable
beginning of year $564,811 · end of year $600,986
-
7 · Other notes and loans receivable
beginning of year $200,000
-
8 · Inventories for sale or use
beginning of year $213,217 · end of year $149,832
-
9 · Prepaid expenses and deferred charges
beginning of year $31,337 · end of year $72,134
-
10a · Land, buildings and equipment: cost or other basis
$42,471
-
10b · Land, buildings and equipment: accumulated depreciation
$10,936
-
10c · Land, buildings and equipment, net
beginning of year $8,358 · end of year $31,535
-
15 · Other assets
beginning of year $2,668,788 · end of year $2,838,481
-
17 · Accounts payable and accrued expenses
beginning of year $1,050,375 · end of year $1,058,591
-
25 · Other liabilities
beginning of year $1,514,814 · end of year $2,143,786
-
27 · Net assets without donor restrictions
beginning of year $751,147 · end of year $331,811
-
28 · Net assets with donor restrictions
beginning of year $403,044 · end of year $204,600
Mission and programs · 2022
Mission
TO CONDUCT CHARITABLE AND EDUCATIONAL ACTIVITIES TO PROMOTE AND ADVANCE THE PUBLIC'S INTEREST IN A PUBLIC MUSEUM TO PRESERVE AND PRESENT AUTOMOTIVE HISTORY.
Activities or mission (Part I)
TO ASSIST IN THE CONDUCT OF CHARITABLE AND EDUCATIONAL PROMOTION OF PUBLIC INTEREST IN APPRECIATION OF AND PARTICIPATION IN CAR COLLECTION THROUGH CREATING AND SUPPORTING ACTIVITIES REGARDING A PUBLIC MUSEUM DEDICATED TO CLASSIC, COLLECTIBLE AND MODERN CARS.
-
THE ORGANIZATION OPERATES A MUSEUM DEVOTED TO THE APPRECIATION OF HISTORICAL, CLASSICAL, COLLECTIBLE AND MODERN CARS. THE ORGANIZATION AIMS THAT BY TELLING THE STORIES OF THE AUTOMOBILES, IT TELLS THE STORY OF OUR CULTURE, COUNTRY, FAMILIES AND OURSELVES. THE ORGANIZATION ANNUALLY CURATES FOUR (4) EXHIBITS AND IN 2022 WELCOMED 30,000 + VISITORS, INCLUDING SCHOOL AND SENIOR GROUPS, CAR CLUBS AND COLLECTORS.
Expenses $963,624 · Grants $95,000 · Revenue $387,327
-
THE ORGANIZATION, THROUGH ITS WHOLLY OWNED SUBSIDIARY, AUDRAIN CONCOURS FOUNDATION, LLC ANNUALLY PRODUCES AND HOSTS THE "AUDRAIN NEWPORT CONCOURS AND MOTOR WEEK," A CAR CENTRIC EXPERIENCE IN NEWPORT RHODE ISLAND. THIS 4 DAY EVENT INCLUDES A FUNDRAISING GALA, TOUR D' ELEGANCE, CONCOURS D' ELEGANCE AND EDUCATIONAL SEMINARS ON AUTOMOBILE RELATED TOPICS THAT CELEBRATE AND PROMOTE THE PUBLIC'S INTEREST IN THE PRESERVATION AND PRESENTATION OF AUTOMOTIVE HISTORY.
As filed on the 2022 return.
Listed in Part VII
-
Nicholas S SchorschNICHOLAS S SCHORSCH
DIRECTOR, PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
John T BoxerJOHN T BOXER
DIRECTOR, SECRETARY
- Total calculated
- $0
- Hours/week
- 10
-
William M KahaneWILLIAM M KAHANE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Shelley D SchorschSHELLEY D SCHORSCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
David De MuzioDAVID DE MUZIO
EXECUTIVE DIRECTOR
- Total calculated
- $199,792
- From this org
- $96,609
- From related orgs
- $103,183
- Other
- $0
- Hours/week
- 40 + 20 related
Schedule J breakdown matched by us
- Base
- $96,609 + $103,183 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $96,609 + $103,183 related
-
Edward M Weil JrEDWARD M WEIL JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Nicholas S Schorsch JrNICHOLAS S SCHORSCH JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
M Benjamin MercerM BENJAMIN MERCER
TREASURER
- Total calculated
- $0
- Hours/week
- 5
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
-
DONATION TO HELP SUPPORT CENTRAL SERVICES PROVIDED FOR AT-RISK INDIVIDUALS, FAMILIES, AND SENIORS.
-
$27,500
DONATION TO SUPPORT ADULT LEARNING, INDEPENDENT LIVING AND AN ENRICHED QUALITY OF LIFE.
-
DONATION TO HELP SUPPORT THE ORGANIZATION AND CLUBHOUSE. THE CLUBHOUSE HAS BEEN THE PLACE WHERE NUMEROUS KIDS AND TEENS LEARNED HOW TO SWIM, RECEIVED MUCH NEEDED HOMEWORK ASSISTANCE, PLAYED BASKETBALL IN THE FLO HARVEY BASKETBALL LEAGUE AND MAKE LIFE-LONG FRIENDSHIPS.
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
AUDRAIN CONCOURS FOUNDATION LLC
TO PLAN AND PRODUCE AUDRAIN NEWPORT CONCOURS & MOTORWEEK · DE
Directly controlled by AUDRAIN AUTOMOBILE MUSEUM INC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
AR CAPITAL LLC
ALT. ASSET MANAGER · DE
-
AR GLOBAL INVESTMENTS LLC
ALT. ASSET MANAGER · DE
-
METROPOLITAN WEALTH MANAGEMENT LLC
FAMILY OFFICE · DE
-
BELLEVUE CAPITAL PARTNERS LLC
HOLDING COMPANY · DE
-
ARC REAL ESTATE PARTNERS LLC
HOLDING COMPANY · DE
-
1899 LLC DBA LAFORGE RESTAURANT
RESTAURANT · DE
-
AUDRAIN MOTORSPORT LLC
MOTORSPORT · DE
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
GLEN COURT MANAGEMENT INC
C · SERVICE PROVIDER · PA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313199349327271
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