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Nonprofiteer
← CINCINNATI MUSEUMS FOUNDATION

Form 990 for tax year 2023

Filed by CINCINNATI MUSEUMS FOUNDATION.

Totals

Total revenue
$9,040,929
Total expenses
$2,879,801
Contributions and grants received
$6,863,450
Grants paid
$2,780,731
Program service revenue
$0
Investment income
$2,177,479
Other revenue
$0
Total assets, end of year
$87,096,999
Total liabilities, end of year
$1,950
Net assets or fund balances, end of year
$87,095,049
Program services expenses (Part IX)
$2,780,731
Management and general expenses
$99,070
Fundraising expenses
$0
Program service expenses (Part III)
$2,780,731

Program services were 96.6% 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.

  • 1d · Related organizations

    $6,853,623

  • 1f · All other contributions, gifts and grants

    $9,827

  • 3 · Investment income

    total $2,102,000 · excluded $2,102,000

  • 7a · Gross sales of assets other than inventory

    securities $321,181

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

    securities $245,702

  • 7c · Gain or loss

    securities $75,479

  • 7d · Net gain or loss

    total $75,479 · excluded $75,479

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,780,731 · program services $2,780,731

  • 11c · Fees: accounting

    total $5,932 · management and general $5,932

  • 11f · Fees: investment management

    total $85,946 · management and general $85,946

  • 11g · Fees: other

    total $25 · management and general $25

  • 13 · Office expenses

    total $39 · management and general $39

  • 23 · Insurance

    total $6,928 · management and general $6,928

  • 24a · Other expenses: LICENSE, PERMITS ,TAXES

    total $200 · management and general $200

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,263 · end of year $15,452

  • 2 · Savings and temporary cash investments

    beginning of year $1,545,920 · end of year $1,459,357

  • 12 · Investments: other securities

    beginning of year $55,307,165 · end of year $85,622,190

  • 25 · Other liabilities

    beginning of year $464 · end of year $1,950

  • 27 · Net assets without donor restrictions

    beginning of year $30,793,475 · end of year $52,516,510

  • 28 · Net assets with donor restrictions

    beginning of year $26,076,409 · end of year $34,578,539

Mission and programs · 2023

Mission

TO PROVIDE FINANCIAL SUPPORT FOR THE BENEFIT OF CINCINNATI MUSEUM CENTER, NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER AND ANY OTHER TAX EXEMPT, NONPROFIT ENTITY OF WHICH THE CINCINNATI MUSEUM CENTER IS THE SOLE MEMBER AND TO CONDUCT ANY ACTIVITIES CONSISTENT WITH SUCH PURPOSES.

  • CINCINNATI MUSEUMS FOUNDATION PROVIDES CONTRIBUTIONS TO SUPPORT THE CINCINNATI MUSEUM CENTER AND THE NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER.

    Expenses $2,780,731 · Grants $2,780,731

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Anne Drackett Thomas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Phillips

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Pierce

    CEO

    Total calculated
    $414,575
    From this org
    $0
    From related orgs
    $355,272
    Other
    $59,303
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $282,772 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $22,500 related
    Deferred
    $0 + $14,692 related
    Nontaxable benefits
    $0 + $44,611 related
    Filer's total
    $0 + $414,575 related

  • Francie Hiltz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jane Garvey

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jill Berkemeier

    CFO & TREASURER

    Total calculated
    $287,059
    From this org
    $0
    From related orgs
    $271,868
    Other
    $15,191
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,368 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $22,500 related
    Deferred
    $0 + $12,500 related
    Nontaxable benefits
    $0 + $2,691 related
    Filer's total
    $0 + $287,059 related

  • Pete Strange

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Phillip Long

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Lindner Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Scott Schuster

    PRESIDENT & SECRETARY

    Total calculated
    $237,299
    From this org
    $0
    From related orgs
    $182,835
    Other
    $54,464
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,835 related
    Bonus
    $0 + $35,000 related
    Other
    $0
    Deferred
    $0 + $10,000 related
    Nontaxable benefits
    $0 + $44,464 related
    Filer's total
    $0 + $237,299 related

  • Susan B Esler

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    1 + 3 related

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

The filer's explanations (Part III)

PART I, LINE 3
ALL COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION USING THE FOLLOWING: THE BOARD OF TRUSTEES COMPENSATION COMMITTEE, A STANDING COMMITTEE COMPRISED ENTIRELY OF INDEPENDENT TRUSTEES, ANNUALLY REVIEWS THE PRESIDENT/CEO'S PERFORMANCE AND ESTABLISHES COMPENSATION FOR THE CEO AND VICE PRESIDENTS. WRITTEN DOCUMENTATION OF THIS REVIEW IS PRODUCED AND FILED WITH THE DIRECTOR OF HUMAN RESOURCES. THE REVIEW IS BASED ON CMC'S FINANCIAL AND PROGRAMMATIC PERFORMANCE, AND COMPENSATION INCREASES ARE BASED ON MERIT. THE CEO RECOMMENDS THE VICE PRESIDENT'S COMPENSATION, WHICH IS REVIEWED BY THE COMMITTEE AND SET BASED ON THE VICE PRESIDENTS PERFORMANCE AND THE CEO'S RECOMMENDATION. BENCHMARK DATA FOR COMPARABLE POSITIONS IS UTILIZED BY THE COMMITTEE FOR THE CEO AND VICE PRESIDENTS AND INCLUDES TAX RETURNS, PUBLISHED REPORTS AND FORMAL COMPENSATION STUDIES. THE COMMITTEE UTILIZES A COMPREHENSIVE STUDY BY ECONOMIC RESEARCH INSTITUTE COMPARING CMC TO SIMILAR ARTS, CULTURE AND HUMANITIES ORGANIZATIONS NATIONALLY (EXCLUDING NEW YORK, CALIFORNIA, MASSACHUSETTS AND OTHER DISSIMILAR STATES) THAT HAVE SIMILAR BUDGET ORGANIZATIONAL STRUCTURES.

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

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • UNION TERMINAL LLC

    RENOVATION, REHAB & PRESERVATION OF UNION TERMINAL · OH

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • UNION TERMINAL CORPORATION

    C · RENOVATION, REHAB & PRESERVATION OF UNION TERMINAL · OH

  • MERCURY MUSEUM SERVICES LLC

    C · RENOVATION, REHAB & PRESERVATION OF UNION TERMINAL · OH

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202501349349300040

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