Springfield Museums Corporation
- Assets
- $83.3m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 126
- Location
- Springfield, MA
- Founding
- 02/1935
- Data as of
- 06/2022
- EIN
- 04-6002239
Organization Overview
Springfield Museums Corporation is located in Springfield, MA. The organization was established in 1935. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 06/2022, Springfield Museums Corporation employed 126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springfield Museums Corporation 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 06/2022, Springfield Museums Corporation generated $9.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $7.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SPRINGFIELD MUSEUMS CORPORATION IS A NON-PROFIT ORGANIZATION WHICH PROVIDES PUBLIC ACCESS TO ITS COLLECTIONS OF LITERATURE, ARTWORK, AND HISTORICAL TREASURES.
Describe the Organization's Program Activity:
PROVIDED THE PUBLIC WITH VARIOUS MATERIALS, PROGRAMS, OBJECTS AND ARTIFACTS FOR EDUCATIONAL, RECREATIONAL AND INFORMATIONAL PURPOSES. SERVING APPROXIMATELY 600,000 INDIVIDUALS.
EDUCATIONAL PROGRAMS FOR SCHOOL CHILDREN INCLUDING INTERPRETIVE TOURS, HANDS-ON SCIENCE PROGRAMS, PLANETARIUM SHOWS, ART DISCOVERY ADVENTURES, AND LOCAL HISTORY ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Simpson President | Officer | 40 | $178,052 |
Heather Haskell Vice President | Officer | 40 | $95,216 |
Kathleen Kane Chair | Trustee | 5 | $0 |
Francis J Cataldo Jr Trustee | Trustee | 5 | $0 |
Jeff Fialky Asst Treasurer | Trustee | 1 | $0 |
Roger Crandall Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Guarducci Stained Glass Studios Stained Glass | 6/29/18 | $153,124 |
Security Concepts Inc Security | 6/29/18 | $128,713 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $399,364 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,188,946 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,319,381 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,907,691 |
| Total Program Service Revenue | $1,131,433 |
| Investment income | $2,033,904 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $437,338 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $212,533 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,886,411 |
| 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. | $298,345 |
| Compensation of current officers, directors, key employees. | $298,345 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,012,340 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $272,305 |
| Payroll taxes | $255,333 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,185 |
| Advertising and promotion | $203,618 |
| Office expenses | $314,971 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $767,198 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,017 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,423,649 |
| Insurance | $99,569 |
| All other expenses | $915,895 |
| Total functional expenses | $7,729,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,444 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,862,713 |
| Accounts receivable, net | $50,956 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $307,753 |
| Net Land, buildings, and equipment | $13,123,818 |
| Investments—publicly traded securities | $45,463,770 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,444,976 |
| Total assets | $83,263,430 |
| Accounts payable and accrued expenses | $636,309 |
| Grants payable | $0 |
| Deferred revenue | $98,794 |
| 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 | $2,645,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,380,399 |
| Net assets without donor restrictions | $49,779,799 |
| Net assets with donor restrictions | $30,103,232 |
| 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 | $83,263,430 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Springfield Museums Corporation has recieved totaling $123,740.
| Awarding Organization | Amount |
|---|---|
Helen Frankenthaler Foundation Inc New York, NY PURPOSE: FRANKENTHALER CLIMATE INITIATIVE 2021 | $32,999 |
Community Foundation Of Western Massachusetts Springfield, MA PURPOSE: ARTS & CULTURE | $25,273 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $21,000 |
Grace P Meekins Trust Uw 420-4778506 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $17,143 |
Jewish Federation Of Western Massachusetts Inc Springfield, MA PURPOSE: GENERAL SUPPORT | $10,263 |
Association Of Science-Technology Centers Incorporated Washington, DC PURPOSE: COMMUNITIES FOR IMMUNITY VACCINE CONFIDENCE PROGRAM GRANT AWARD | $9,785 |
Endowment Analysis
| Beg. Balance | $43,250,559 |
| Earnings | -$6,224,302 |
| Net Contributions | $10,321,513 |
| Other Expense | $1,884,000 |
| Ending Balance | $45,463,770 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |
Publishers International Linking Association Inc Lynnfield, MA | $16,437,833 | $11,352,834 |
Springfield Museums Corporation Springfield, MA | $83,263,430 | $9,886,411 |
Providence Public Library Providence, RI | $36,987,936 | $6,478,555 |
Westchester Library System Elmsford, NY | $6,787,041 | $7,508,558 |
American Antiquarian Society Worcester, MA | $122,268,688 | $9,559,298 |