Peabody Essex Museum Inc

Organization Overview

Peabody Essex Museum Inc is located in Salem, MA. The organization was established in 1993. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Peabody Essex Museum Inc employed 283 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peabody Essex 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, Peabody Essex Museum Inc generated $58.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.3%) each year. All expenses for the organization totaled $41.9m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE PEABODY ESSEX MUSEUM IS TO CELEBRATE OUTSTANDING ARTISTIC AND CULTURAL CREATIVITY BY COLLECTING, STEWARDING AND INTERPRETING OBJECTS OF ART AND CULTURE IN WAYS THAT INCREASE KNOWLEDGE, ENRICH THE SPIRIT, ENGAGE THE MIND AND STIMULATE THE SENSES. THROUGH ITS EXHIBITIONS, PROGRAMS, PUBLICATIONS, MEDIA AND RELATED ACTIVITIES, PEM STRIVES TO CREATE EXPERIENCES THAT TRANSFORM PEOPLE'S LIVES BY BROADENING THEIR PERSPECTIVES, ATTITUDES, AND KNOWLEDGE OF THEMSELVES AND THE WIDER WORLD.

Describe the Organization's Program Activity:

EXHIBITIONS AND PUBLICATIONS: SEE SCHEDULE O.


CURATORIAL AND COLLECTIONS: SEE SCHEDULE O.


EDUCATION: SEE SCHEDULE O.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Schwartz Hannum Pc
Legal Services
$163,043
Cambridge Associates Llc
Investments Consulting
$856,328
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$782,548
Fundraising events$0
Related organizations$0
Government grants $4,260,400
All other contributions, gifts, grants, and similar amounts not included above$4,934,692
Noncash contributions included in lines 1a–1f $555,740
Total Revenue from Contributions, Gifts, Grants & Similar$9,977,640
Total Program Service Revenue$987,815
Investment income $1,405,929
Tax Exempt Bond Proceeds $0
Royalties $14,971
Net Rental Income $42,506
Net Gain/Loss on Asset Sales $44,982,611
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $393,329
Miscellaneous Revenue$0
Total Revenue $57,993,478

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Peabody Essex Museum Inc has recieved totaling $398,060.

Awarding OrganizationAmount
$390,000
Kathleen & Ronald J Jackson Fndn 08-19-1994

Prides Crossing, MA

PURPOSE: UNRESTRICTED

$5,000
$2,500
Alchemy Foundation

Cambridge, MA

PURPOSE: GENERAL SUPPORT

$350
Swalwell-Connor Family Foundation Inc

Dallas, TX

PURPOSE: SUPPORT THE WORK OF A LOCAL MUSEUM

$210
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$448,748,145
Earnings$136,248,490
Net Contributions$1,912,278
Other Expense$22,273,233
Ending Balance$564,635,680

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