Bennington Museum Inc
- Assets
- $4.6m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 19
- Location
- Bennington, VT
- Founding
- 02/1928
- Data as of
- 06/2021
- EIN
- 03-0185292
Organization Overview
Bennington Museum Inc is located in Bennington, VT. The organization was established in 1928. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Bennington Museum Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bennington Museum Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Bennington Museum Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $813.2k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE BENNINGTON MUSEUM COLLECTS, EXHIBITS, AND INTERPRETS THE ART, HISTORY, AND CULTURE OF VERMONT AND NORTHERN NEW ENGLAND. OUR GOAL IS TO EDUCATE, DELIGHT, AND INSPIRE OUR LOCAL COMMUNITY, AND VISITORS FROM ACROSS THE NATION AND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BENNINGTON MUSEUM COLLECTS, EXHIBITS, AND INTERPRETS THE ART, HISTORY, AND CULTURE OF VERMONT AND NORTHERN NEW ENGLAND. OUR GOAL IS TO EDUCATE, DELIGHT, AND INSPIRE OUR LOCAL COMMUNITY, AND VISITORS FROM ACROSS THE NATION AND THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Torrance Executive Dir. | Officer | 40 | $92,884 |
Jj Williams Treasurer | OfficerTrustee | 5 | $0 |
Constance West Chairperson | OfficerTrustee | 5 | $0 |
Marianne Peters Secretary | OfficerTrustee | 5 | $0 |
Edie Sawitsky Trustee | OfficerTrustee | 5 | $0 |
William Deveneau Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $44,434 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,831,911 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,876,345 |
| Total Program Service Revenue | $102,485 |
| Investment income | $9,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $625 |
| Net Gain/Loss on Asset Sales | $275 |
| Net Income from Fundraising Events | $15,600 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $12,389 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,017,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $92,884 |
| Compensation of current officers, directors, key employees. | $20,577 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $304,831 |
| Pension plan accruals and contributions | $6,309 |
| Other employee benefits | $8,801 |
| Payroll taxes | $36,924 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,603 |
| Fees for services: Accounting | $16,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,331 |
| Fees for services: Other | $15,415 |
| Advertising and promotion | $0 |
| Office expenses | $5,737 |
| Information technology | $14,759 |
| Royalties | $1,221 |
| Occupancy | $100,591 |
| Travel | $60 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,003 |
| Insurance | $22,041 |
| All other expenses | $19,658 |
| Total functional expenses | $813,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $552,985 |
| Savings and temporary cash investments | $1,656,016 |
| Pledges and grants receivable | $30,750 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $129,314 |
| Prepaid expenses and deferred charges | $4,597 |
| Net Land, buildings, and equipment | $1,315,114 |
| Investments—publicly traded securities | $878,846 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,567,622 |
| Accounts payable and accrued expenses | $120,189 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $221,595 |
| Other liabilities | $0 |
| Total liabilities | $341,784 |
| Net assets without donor restrictions | $2,521,786 |
| Net assets with donor restrictions | $1,704,052 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,567,622 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Bennington Museum Inc has recieved totaling $361,936.
| Awarding Organization | Amount |
|---|---|
Alcyon Foundation Wilmington, DE PURPOSE: GENERAL OPERATIONS | $160,079 |
Helen Frankenthaler Foundation Inc New York, NY PURPOSE: FRANKENTHALER CLIMATE INITIATIVE 2021 | $80,000 |
Vermont Council On The Arts Inc Montpelier, VT PURPOSE: GENERAL PURPOSE | $48,075 |
Edwin S Webster Foundation Boston, MA PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
George W Mergens Foundation Milton, VT PURPOSE: COMMUNITY ENGAGEMENTCOORDINATORPOSITION | $15,000 |
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $12,000 |
Endowment Analysis
| Beg. Balance | $426,420 |
| Earnings | $6,829 |
| Other Expense | $6,161 |
| Ending Balance | $427,088 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society For The Preservation Of New England Antiquities Inc Boston, MA | $149,018,347 | $24,101,977 |
Museum Of Jewish Heritage A Living Memorial To The Holocaust New York, NY | $55,434,280 | $9,656,219 |
National Baseball Hall Of Fame And Museum Inc Cooperstown, NY | $59,891,798 | $13,912,990 |
Museum Of The City Of New York New York, NY | $66,852,822 | $13,898,529 |
Old Sturbridge Inc Sturbridge, MA | $21,603,377 | $13,063,304 |
Plimoth Patuxet Museums Inc Plymouth, MA | $39,663,068 | $8,933,676 |
Lower East Side Tenement Museum New York, NY | $36,923,048 | $8,687,426 |
Historic Deerfield Inc Deerfield, MA | $76,973,698 | $8,334,092 |
Heritage Plantation Of Sandwich Inc Sandwich, MA | $34,658,032 | $6,604,835 |
Genesee Country Museum Mumford, NY | $24,289,826 | $5,606,616 |
Fenimore Art Museum New York, NY | $63,527,114 | $3,838,046 |
Farmers Museum Inc New York, NY | $82,300,614 | $4,849,865 |