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← AMERICAN SWEDISH INSTITUTE

Form 990 for tax year 2022

Filed by AMERICAN SWEDISH INSTITUTE.

Totals

Total revenue
$6,637,892
Total expenses
$6,349,348
Contributions and grants received
$4,409,125
Grants paid
$15,630
Program service revenue
$1,186,210
Investment income
$217,203
Other revenue
$825,354
Total assets, end of year
$60,326,225
Total liabilities, end of year
$7,403,188
Net assets or fund balances, end of year
$52,923,037
Program services expenses (Part IX)
$4,294,469
Management and general expenses
$1,500,962
Fundraising expenses
$553,917
Program service expenses (Part III)
$4,294,469

Program services were 67.6% 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.

  • 1b · Membership dues

    $322,637

  • 1e · Government grants (contributions)

    $209,142

  • 1f · All other contributions, gifts and grants

    $3,877,346

  • 1g · Noncash contributions included above

    $68,018

  • 2a · Program service revenue: CLASS AND PROGRAM

    total $585,397 · related or exempt $585,397

  • 2b · Program service revenue: ADMISSIONS AND TOURS

    total $237,101 · related or exempt $237,101

  • 2c · Program service revenue: CULINARY

    total $162,937 · related or exempt $112,773 · unrelated business $50,164

  • 2d · Program service revenue: SERVICES TO CONSULATE

    total $31,725 · related or exempt $31,725

  • 2f · All other program service revenue

    total $169,050 · related or exempt $169,050

  • 3 · Investment income

    total $204,250 · excluded $204,250

  • 6a · Gross rents

    real property $218,029

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $218,029

  • 6d · Net rental income or loss

    total $218,029 · unrelated business $218,029

  • 7a · Gross sales of assets other than inventory

    securities $534,976

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

    securities $522,023

  • 7c · Gain or loss

    securities $12,953

  • 7d · Net gain or loss

    total $12,953 · excluded $12,953

  • 10a · Gross sales of inventory

    $1,122,392

  • 10b · Cost of goods sold

    $515,067

  • 10c · Net income from sales of inventory

    total $607,325 · related or exempt $552,735 · unrelated business $54,590

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,630 · program services $15,630

  • 5 · Compensation of officers, directors and key employees

    total $475,383 · management and general $422,562 · fundraising $52,821

  • 6 · Compensation of disqualified persons

    total $2,320,389 · program services $1,628,149 · management and general $398,138 · fundraising $294,102

  • 8 · Pension plan contributions

    total $27,494 · program services $15,787 · management and general $8,171 · fundraising $3,536

  • 9 · Other employee benefits

    total $219,501 · program services $137,541 · management and general $56,787 · fundraising $25,173

  • 10 · Payroll taxes

    total $190,359 · program services $102,876 · management and general $60,475 · fundraising $27,008

  • 11b · Fees: legal

    total $7,489 · management and general $7,489

  • 11c · Fees: accounting

    total $74,029 · program services $929 · management and general $73,100

  • 11f · Fees: investment management

    total $12,178 · management and general $12,178

  • 11g · Fees: other

    total $268,248 · program services $256,450 · management and general $9,853 · fundraising $1,945

  • 12 · Advertising and promotion

    total $85,917 · program services $40,000 · management and general $45,747 · fundraising $170

  • 13 · Office expenses

    total $363,429 · program services $207,160 · management and general $112,000 · fundraising $44,269

  • 14 · Information technology

    total $141,897 · program services $76,938 · management and general $33,199 · fundraising $31,760

  • 16 · Occupancy

    total $256,020 · program services $232,155 · management and general $21,573 · fundraising $2,292

  • 17 · Travel

    total $86,213 · program services $21,425 · management and general $52,579 · fundraising $12,209

  • 20 · Interest

    total $213 · program services $213

  • 22 · Depreciation, depletion and amortization

    total $1,118,863 · program services $1,028,454 · management and general $85,406 · fundraising $5,003

  • 23 · Insurance

    total $89,941 · program services $32,437 · management and general $57,301 · fundraising $203

  • 24a · Other expenses: REPAIR & MAINTENANCE

    total $148,169 · program services $135,383 · management and general $11,873 · fundraising $913

  • 24b · Other expenses: EXHIBIT EXP

    total $143,671 · program services $143,671 · management and general $0 · fundraising $0

  • 24c · Other expenses: DUES, LICENSES & SUBSCR

    total $120,986 · program services $99,328 · management and general $11,290 · fundraising $10,368

  • 24d · Other expenses: FOOD AND CATERING

    total $96,611 · program services $72,686 · management and general $19,214 · fundraising $4,711

  • 24e · All other expenses

    total $86,718 · program services $47,257 · management and general $2,027 · fundraising $37,434

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $194,968 · end of year $186,118

  • 2 · Savings and temporary cash investments

    beginning of year $2,972,866 · end of year $3,788,206

  • 3 · Pledges and grants receivable

    beginning of year $3,757,726 · end of year $2,028,560

  • 4 · Accounts receivable

    beginning of year $94,583 · end of year $67,020

  • 8 · Inventories for sale or use

    beginning of year $208,365 · end of year $265,396

  • 9 · Prepaid expenses and deferred charges

    beginning of year $122,760 · end of year $89,118

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

    $48,257,531

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

    $14,314,303

  • 10c · Land, buildings and equipment, net

    beginning of year $28,487,000 · end of year $33,943,228

  • 11 · Investments: publicly traded securities

    beginning of year $5,195,981 · end of year $5,378,567

  • 15 · Other assets

    beginning of year $12,639,831 · end of year $14,580,012

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,381,906 · end of year $902,584

  • 19 · Deferred revenue

    beginning of year $253,042 · end of year $190,592

  • 23 · Secured mortgages and notes payable

    beginning of year $1,291,129 · end of year $6,310,012

  • 27 · Net assets without donor restrictions

    beginning of year $29,314,073 · end of year $30,437,896

  • 28 · Net assets with donor restrictions

    beginning of year $20,433,930 · end of year $22,485,141

Mission and programs · 2022

Mission

THE AMERICAN SWEDISH INSTITUTE IS A GATHERING PLACE FOR ALL PEOPLE TO SHARE EXPERIENCES AROUND THEMES OF CULTURE, MIGRATION, THE ENVIRONMENT AND THE ARTS, INFORMED BY ENDURING LINKS TO SWEDEN.

Activities or mission (Part I)

ASI IS A PLACE TO SHARE SWEDISH EXPERIENCES OF CULTURE, MIGRATION, THE ENVIRONMENT AND THE ARTS.

  • EXHIBITIONS: ASI DEVELOPED FOUR MAJOR EXHIBITS IN FY2023 WITH ACCOMPANYING SECONDARY EXHIBITS SECRETS OF THE SEASON HOLIDAY EXPERIENCE, FLUIDITY: IDENTITY IN SWEDISH GLASS, LEAVING YOUR MARK: STORIES IN WOOD, AND OUR DRAGON STORY FAMILY EXHIBITION. ASI'S EXHIBITS RANGE IN THEMES FROM SWEDISH AND NORDIC ARTS, CRAFT HISTORY, AND CONTEMPORARY LIFE, OFTEN DEVELOPED IN CONJUNCTION WITH LOCAL PARTNERING ORGANIZATIONS AND ARTISTS AS WELL AS THE SWEDISH EMBASSY AND NORDIC HERITAGE MUSEUMS. ONE OF THE MAJOR EXHIBIT EXPERIENCES IS THE 33-ROOM TURNBLAD MANSION AND ITS ANNUAL NORDIC HOLIDAY DISPLAYS REPRESENTING DISPLAYS FOR THE FIVE NORDIC COUNTRIES BY LOCAL ARTISTS AND ORGANIZATIONS. VISITOR AND VOLUNTEER SERVICES: THIS UNIT OVERSEES MUSEUM ADMISSION FUNCTIONS, CUSTOMER SERVICE, PROGRAM REGISTRATION AND GROUP TOURS. ADDITIONALLY, THIS UNIT RECRUITS, TRAINS AND MANAGES A LARGE COHORT OF VOLUNTEERS. IN FY 2023, APPROXIMATELY 150 INDIVIDUALS VOLUNTEERED THROUGHOUT THE ORGANIZATION. COLLECTIONS: ASI MAINTAINS MATERIAL COLLECTIONS, LIBRARY, AND ARCHIVES COLLECTIONS. THE GOAL OF ASI'S COLLECTIONS IS TO REFLECT THE CULTURES OF SWEDEN AND SWEDISH AMERICA AND TO PROVIDE RESOURCES FOR RESEARCH FOR ASI STAFF, SCHOLARS, AND THE PUBLIC.

    Expenses $1,960,366 · Revenue $268,826

  • THE AMERICAN SWEDISH INSTITUTE CREATES AND PRESENTS EDUCATIONAL ACTIVITIES FOR LIFE-LONG LEARNING. PROGRAMS AND EXHIBITS ARE DEVELOPED USING AN AUDIENCE DRIVEN PROCESS; MATCHING MISSION AND STRATEGIC GOALS TO INTERESTS AND BEHAVIORS OF OUR AUDIENCES. ASI IS ONE OF FIVE HUB ORGANIZATIONS IDENTIFIED BY THE SWEDISH EMBASSY TO PARTNER ON CULTURAL AND BUSINESS PROGRAMS AND EVENTS. PROGRAMS: ADULT PROGRAMS INCLUDE SWEDISH AND FINNISH LANGUAGE CLASSES; HANDCRAFT, FOODWAYS, FOLK ART, AND CULTURE WORKSHOPS; AS WELL AS LECTURES, TOURS, EXHIBIT OPENINGS, CONCERTS, AND SPECIAL EVENTS. YOUTH AND FAMILY PROGRAMS OFFER ACTIVITIES FOR PRESCHOOLERS THROUGH COLLEGE STUDENTS. PROGRAMS INCLUDE SVENSKA SKOLAN SWEDISH LANGUAGE CLASSES FOR CHILDREN AND YOUTH, CRAFT WORKSHOPS FOR YOUTH, SEASONAL YOUTH AND FAMILY ACTIVITIES, COMMUNITY PROGRAMS (AT ASI AND OUTREACH IN SCHOOLS), AFTER-SCHOOL PROGRAMS AND CAMPS. ASI ALSO INCORPORATES CHILDREN/FAMILY ACTIVITIES FOR ALL MAJOR EXHIBITS. PROGRAMS ARE OFFER ON-SITE AND IN-PERSON AS WELL AS THROUGH VIRTUAL MEDIA

    Expenses $1,360,546 · Grants $15,630 · Revenue $754,447

  • CULTURAL ENTERPRISES INCLUDE THREE UNITS: RETAIL THROUGH THE ON-SITE MUSEUM STORE AND ITS E-COMMERCE SITE; FOOD SERVICE AT FIKA CAF AND SLATE&STONE CATERING; AND FACILITY RENTALS FOR PRIVATE EVENTS. THE MUSEUM STORE AND FIKA CAF ARE LOCATED IN THE NELSON CULTURAL CENTER AND ARE MUSEUM ENHANCING VISITOR AMENITIES. RETAIL SELLS TRADITIONAL AND MODERN NORDIC ITEMS RELATING TO THE MISSION OF ASI AND MUSEUM, PROGRAMS, AND EXHIBITS. FIKA CAFE FEATURES NEW NORDIC CUISINE AS WELL AS TRADITIONAL SWEDISH MENU ITEMS. THE FACILITIES RENTAL UNIT COORDINATES SPACE RENTALS IN THE NELSON CULTURAL CENTER, THE TURNBLAD MANSION AS WELL AS OUTDOOR SPACES FOR THOSE DESIRING A PRIVATE GROUP EXPERIENCE AT ASI.

    Expenses $973,557 · Revenue $665,508

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Margaret Adamek

    CHAIR

    Total calculated
    $0
    Hours/week
    1.8

  • David Sorensen

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.8

  • Elizabeth Olson

    TREASURER

    Total calculated
    $0
    Hours/week
    1.8

  • Lynnea Atlas-Ingebretson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.8

  • Marcia Anderson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Aimee Richcreek Baxter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Carline Bengtsson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Brenda Butler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Tikki Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Brad Engdahl

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Barbara Glaser

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Dr Mary Dee Hicks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Peter Hilger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Lisa Kallebo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Dr John Litell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Marco Molinari

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Elodie Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Andreas Ornberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Andrea Oseland

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Lenor Scheffler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Sara Stenberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • William Weiler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.8

  • Molly Steenson

    PRESIDENT/CEO

    Total calculated
    $0
    Hours/week
    45

  • Bruce Karstadt

    FORMER PRESIDENT/CEO

    Total calculated
    $195,023
    From this org
    $158,236
    From related orgs
    $0
    Other
    $36,787
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,236
    Bonus
    $0
    Other
    $0
    Deferred
    $25,569
    Nontaxable benefits
    $11,218
    Filer's total
    $195,023

  • Peggy Korsmo-Kennon

    COO

    Total calculated
    $132,014
    From this org
    $113,205
    From related orgs
    $0
    Other
    $18,809
    Hours/week
    45

  • Steven Engelkes

    CFO

    Total calculated
    $131,884
    From this org
    $99,511
    From related orgs
    $0
    Other
    $32,373
    Hours/week
    45

  • Christiana Stolpestad

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $141,457
    From this org
    $107,663
    From related orgs
    $0
    Other
    $33,794
    Hours/week
    45

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

  • 3 · Approval by the board or compensation committee

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 February 2024
IRS schema version
2022v5.0
Source object
202410619349300106

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