Mystic Museum Of Art Inc
- Assets
- $4.5m
- Revenue
- $1.7m
- Investments
- $38.3k
- Employees
- 19
- Location
- Mystic, CT
- Founding
- 08/1979
- Data as of
- 12/2022
- EIN
- 06-6000563
Organization Overview
Mystic Museum Of Art Inc is located in Mystic, CT. The organization was established in 1979. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Mystic Museum Of Art Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mystic Museum Of Art 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 12/2022, Mystic Museum Of Art Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 1.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 MYSTIC MUSEUM OF ART IS AN EDUCATIONAL NON-PROFIT, NON-STOCK CORPORATION. ITS MISSION IS TO INSPIRE CREATIVITY AND CRITICAL DIALOGUE BY ENGAGING THE REGIONAL COMMUNITY IN UNDERSTANDING, APPRECIATION, AND PRACTICE OF VISUAL ART.
Describe the Organization's Program Activity:
EDUCATION AND OUTREACH - MMOA EMERGED FROM COVID LOCKDOWN WITH A NEW DIRECTOR OF EDUCATION IN PLACE AND A FULL SCHEDULE OF CLASSES, WORKSHOPS, AND EXHIBITION-BASED ACTIVITIES, FOR ADULTS AND CHILDREN. MMOA CLASSES ARE OFFERED IN FALL, WINTERM AND SPRING TERMS, AND SUMMER CAMPS ARE OFFERED DURING THE BUSY HIGH SEASON.MMOA DEDICATED A STAFF POSITION TO DESIGN AND DELIVER OUTREACH PROGRAMS BENFITTING PUBLIC SCHOOL STUDENTS, HOMESCHOOLERS, RESIDENTS IN RETIREMENT HOMES, LIBRARIES AND OTHER COMMUNITY GROUPS. THESE PROGRAMS INCLUDE: CURRICULUM-BASED ART ACTIVITIES IN SCHOOLS, FIELD TRIPS TO MMOA EXHIBITIONS FOLLOWED BY AN ART PROJECT IN THE STUDIOS, EXHIBITION TOURS, ART PROJECTS IN COMMUNITY SETTINGS, AND PROFESSIONAL DEVELOPMENT FOR ART TEACHERS.
PARKING LOT OPERATIONS - TO LESSEN THE BURDEN OF THE TOWN OF GROTON BY ALLOWING ITS PARKING FACILITIES TO BE USED TO SUPPORT COMMUNITY ACTIVITIES AND ECONOMIC DEVELOPMENT.
EXHIBITIONS - MMOA BASES ITS EXHIBITION PROGRAM ON A CURATORIAL THEME FOR EACH YEAR. EACH EXHIBITION IN THE YEAR ILLUMINATES THAT THEM FROM A DIFFERENT PERSPECTIVE. THE THEME FOR 2022 WAS "NARRATIVE ART" AS A MEANS TO INVITE VISITORS TO ENJOY, REFLECT ON, AND TELL THEIR OWN STORIES, AND TO CONSIDER THE STORIES THAT HAVE BEEN LEFT OUT OF OUR CULTURAL HISTORY. THE HIGHLIGHT OF THE YEAR WAS AN EXHIBITION OF THE COVERS NORMAN ROCKWELL PAINTED FOR THE SATURDAY EVENING POST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Fisher Executive Dir. | Officer | 40 | $117,727 |
Ann Marenakos Director | Trustee | 0.25 | $0 |
Janie Stanley Director | Trustee | 0.25 | $0 |
Michele Kirk Treasurer | OfficerTrustee | 2 | $0 |
Cindy Martin President | OfficerTrustee | 5 | $0 |
Will Cox Secretary | OfficerTrustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $31,576 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $700,979 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $732,555 |
| Total Program Service Revenue | $929,092 |
| Investment income | $19,190 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,680,837 |
| 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. | $117,727 |
| Compensation of current officers, directors, key employees. | $49,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $336,028 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $721 |
| Payroll taxes | $34,713 |
| Fees for services: Management | $51,473 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,407 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,475 |
| Advertising and promotion | $31,856 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,456 |
| Travel | $0 |
| 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 | $37,818 |
| Insurance | $27,952 |
| All other expenses | $89,984 |
| Total functional expenses | $1,118,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $835,173 |
| Savings and temporary cash investments | $684,687 |
| Pledges and grants receivable | $3,785 |
| 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 | $37,883 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $829,184 |
| Investments—publicly traded securities | $1,537,085 |
| Investments—other securities | $38,321 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $533,340 |
| Total assets | $4,499,458 |
| Accounts payable and accrued expenses | $76,254 |
| 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 | $0 |
| Other liabilities | $8,635 |
| Total liabilities | $84,889 |
| Net assets without donor restrictions | $3,731,360 |
| Net assets with donor restrictions | $683,209 |
| 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 | $4,499,458 |