American Clock & Watch Museum Inc
- Assets
- $4.0m
- Revenue
- $413.2k
- Investments
- $3.5m
- Employees
- 6
- Location
- Bristol, CT
- Founding
- 03/1954
- Data as of
- 12/2021
- EIN
- 06-6006559
Organization Overview
American Clock & Watch Museum Inc is located in Bristol, CT. The organization was established in 1954. 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 12/2022, American Clock & Watch Museum Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Clock & Watch 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 12/2021, American Clock & Watch Museum Inc generated $413.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $281.3k during the year ending 12/2021. While expenses have increased by 5.8% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE AMERICAN CLOCK & WATCH MUSEUM CELEBRATES THE INNOVATION AND ARTISTRY OF THE CLOCK AND WATCH INDUSTRIES THROUGH UNIQUE COLLECTIONS THAT ENGAGE, EDUCATE AND ENRICH ITS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM WAS OPEN 252 DAYS IN 2022 (JANUARY - DECEMBER: WEDNESDAYS THROUGH SUNDAYS FROM 10AM TO 5PM, OTHER HOURS BY APPOINTMENT). DURING THIS TIME, WE HAD 3,360 VISITORS FROM 45 STATES AND WASHINGTON DC AND 14 DIFFERENT COUNTRIES.
THE ACWM MAINTAINS A COLLECTION OF OVER 2,500 CLOCKS AND 3,500 WATCHES, PLUS EPHEMERA AND ARCHIVAL MATERIAL THAT SUPPORT THE MUSEUM'S MISSION. IN 2022, WE ADDED 43 PIECES TO THE COLLECTION THROUGH DONATIONS.
GIFT SHOP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patti Philippon Executive Di | Officer | 40 | $77,844 |
Andrea Adams Secretary | OfficerTrustee | 1 | $0 |
Lisa Attle Director | Trustee | 0.5 | $0 |
Brian Beckwith Director | Trustee | 0.5 | $0 |
Mark Blum Director | Trustee | 0.5 | $0 |
Kim Bondeson-Ciccarello President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,458 |
| Investment income | $67,893 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $134,300 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,369 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $413,199 |
| Statement of Expenses | |
|---|---|
| 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. | $82,585 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,729 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,246 |
| Payroll taxes | $10,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,328 |
| Fees for services: Accounting | $1,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,635 |
| Advertising and promotion | $222 |
| Office expenses | $2,576 |
| Information technology | $1,622 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,251 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $422 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,251 |
| Insurance | $20,391 |
| All other expenses | $0 |
| Total functional expenses | $281,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,577 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $12,039 |
| Prepaid expenses and deferred charges | $7,130 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,483,019 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,988,441 |
| Accounts payable and accrued expenses | $13,396 |
| 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 | $0 |
| Total liabilities | $13,396 |
| Net assets without donor restrictions | $2,975,862 |
| Net assets with donor restrictions | $999,183 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,975,045 |