John F Peto Studio Museum
- Assets
- $1.2m
- Revenue
- $162.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Island Heights, NJ
- Founding
- 11/2010
- Data as of
- 12/2021
- EIN
- 11-3835285
Organization Overview
John F Peto Studio Museum is located in Island Heights, NJ. The organization was established in 2010. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John F Peto Studio Museum 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, John F Peto Studio Museum generated $162.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $113.5k during the year ending 12/2021. While expenses have increased by 9.1% 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
TO PROMOTE THE LEGACY OF JOHN F. PETO, INTERNATIONALLY RENOWNED ARTIST, BY MAINTAINING HIS HOME AND STUDIO AS A WORKING MUSEUM, BY FOSTERING EDUCATIONAL OPPORTUNITIES IN THE ARTS AND PARTNERING WITH THE LARGER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2021 WAS A PIVOTAL YEAR FOR THE JOHN F. PETO STUDIO MUSEUM. THE ORGANIZATION TOOK OWNERSHIP OF THE MUSEUM PROPERTY AND BUILDING IN SEPTEMBER 2020. DURING THE FIRST 5 MONTHS OF OWNERSHIP THE MUSEUM WAS PRIMARILY CLOSED DUE TO COVID. USING FUNDS RAISED COMBINED WITH GRANT FUNDING OBTAINED FROM THE OCEAN COUNTY CULTURAL & HERITAGE COMMISSION TO 1) MAKE NECESSARY REPAIRS & IMPROVEMENTS TO THE MUSEUM BUILDING INCLUDING REPAIRS TO THE STAIRCASES AND NEW DEHUMIDIFER UNIT 2) KEEP THE MUSEUM PROPERTY WELL MAINTAINED (PAINTING & LANDSCAPED)3) ALLOW FOR AN INCREASE IN INSURANCE COVERAGE TO A MORE REALISTIC LEVEL 4) PERMIT TOURS OF TWO NEW EXHIBITS DURING THE YEAR 5)EXPAND PROGRAMMING WITH THE PILOT OF OUR FIRST CHILDREN'S SUMMER CAMP.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Baxter President, T | OfficerTrustee | 15 | $0 |
Frank Parisi Ph D Vice Pres., | OfficerTrustee | 10 | $0 |
Wendy Bright-Fallon Treasurer, T | OfficerTrustee | 10 | $0 |
David C Shipman Trustee/dire | OfficerTrustee | 10 | $0 |
Susan Swain Secretary, T | OfficerTrustee | 5 | $0 |
Eve Allison Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,095 |
| Fundraising events | $42,544 |
| Related organizations | $0 |
| Government grants | $16,502 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,061 |
| Noncash contributions included in lines 1a–1f | $21,940 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $160,202 |
| Total Program Service Revenue | $4,701 |
| Investment income | $8,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $54 |
| Net Income from Fundraising Events | -$10,914 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,155 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,400 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,071 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $734 |
| Fees for services: Accounting | $11,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,807 |
| Advertising and promotion | $9,221 |
| Office expenses | $4,901 |
| Information technology | $2,243 |
| Royalties | $0 |
| Occupancy | $10,225 |
| Travel | $1,143 |
| 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 | $9,484 |
| Insurance | $10,266 |
| All other expenses | $3,338 |
| Total functional expenses | $113,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,611 |
| Savings and temporary cash investments | $52,534 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $611,616 |
| Investments—publicly traded securities | $475,464 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,752 |
| Total assets | $1,203,977 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $776,495 |
| Net assets with donor restrictions | $427,482 |
| 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 | $1,203,977 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that John F Peto Studio Museum has recieved totaling $2,350.
| Awarding Organization | Amount |
|---|---|
Kotzas Fam Charitable Foundation Toms River, NJ PURPOSE: CHARITABLE | $2,350 |
Endowment Analysis
| Earnings | $66,482 |
| Net Contributions | $300,000 |
| Ending Balance | $366,482 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carnegie Institute Pittsburgh, PA | $541,460,866 | $82,217,609 |
The Corning Museum Of Glass Corning, NY | $73,662,076 | $31,481,253 |
Intrepid Museum Foundation Inc New York, NY | $107,274,514 | $23,304,017 |
Jewish Museum New York, NY | $170,221,432 | $22,874,963 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
Newark Museum Association Newark, NJ | $64,370,892 | $11,736,749 |
Brandywine Conservancy & Museum Of Art Chadds Ford, PA | $159,611,083 | $25,949,606 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |
George Eastman Museum Rochester, NY | $59,825,841 | $12,306,953 |
Weitzman National Museum Of American Jewish History Philadelphia, PA | $28,897,470 | -$14,023,866 |