Farmers Museum Inc is located in New York, NY. The organization was established in 1944. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Farmers Museum Inc employed 147 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farmers 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, Farmers Museum Inc generated $4.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 years. 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
CULTIVATING AN UNDERSTANDING OF THE RURAL HERITAGE THAT HAS SHAPED AMERICAN CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM-MUSEUM RECREATES LIFE ON THE EARLY NEW YORK FRONTIER
EDUCATION-NEW YORK HISTORY STUDIES
LIBRARY NEW YORK HISTORY RESEARCH
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jane Forbes Clark Director, Chairman | OfficerTrustee | 0.1 | $0 |
Kevin Moore Director | Trustee | 0.1 | $0 |
Gates Hawn Director | Trustee | 0.1 | $0 |
Edward Stack Director | Trustee | 0.1 | $0 |
Henry Weil Director | Trustee | 0.1 | $0 |
David Bliss Director | Trustee | 0.1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
The Clark Estates Inc Management Fees | 12/30/22 | $772,422 |
Rose & Kiernan Employee Insurance | 12/30/22 | $248,706 |
Tiaa-cref Pension | 12/30/22 | $134,869 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $32,600 |
All other contributions, gifts, grants, and similar amounts not included above | $675,167 |
Noncash contributions included in lines 1a–1f | $7,500 |
Total Revenue from Contributions, Gifts, Grants & Similar | $707,767 |
Total Program Service Revenue | $659,844 |
Investment income | $211,019 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $3,271,235 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,849,865 |
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. | $282,250 |
Compensation of current officers, directors, key employees. | $282,250 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $975,145 |
Pension plan accruals and contributions | $140,591 |
Other employee benefits | $506,143 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $807,163 |
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 | $17,345 |
Advertising and promotion | $64,345 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $8,287 |
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 | $234,736 |
Insurance | $122,397 |
All other expenses | $244,590 |
Total functional expenses | $3,827,252 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $18,137,846 |
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 | $42,832 |
Net Land, buildings, and equipment | $2,246,043 |
Investments—publicly traded securities | $6,154,458 |
Investments—other securities | $55,719,435 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $82,300,614 |
Accounts payable and accrued expenses | $370,216 |
Grants payable | $0 |
Deferred revenue | $137,585 |
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 | $507,801 |
Net assets without donor restrictions | $71,559,996 |
Net assets with donor restrictions | $10,232,817 |
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 | $82,300,614 |