Farmers Museum Inc
- Assets
- $82.3m
- Revenue
- $4.8m
- Investments
- $55.7m
- Employees
- 137
- Location
- New York, NY
- Founding
- 08/1944
- Data as of
- 12/2021
- EIN
- 15-0547367
Organization Overview
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 12/2021, Farmers Museum Inc employed 137 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
990T
Mission & Program ActivityExcerpts From the 990T 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:
MUSEUM-MUSEUM RECREATES LIFE ON THE EARLY NEW YORK FRONTIER
EDUCATION-NEW YORK HISTORY STUDIES
LIBRARY NEW YORK HISTORY RESEARCH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D'ambrosio President | Officer | 20 | $188,500 |
Joseph Siracusa Vice President | Officer | 20 | $93,750 |
Jane Forbes Clark Director, Chairman | OfficerTrustee | 0.1 | $0 |
Michael Moffat Director Vice Chairman | OfficerTrustee | 0.1 | $0 |
Anthony J Fasano Treasurer | Officer | 0.1 | $0 |
Alexander Charlton Secretary | Officer | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rose & Kiernan Employee Insurance | 12/30/21 | $240,271 |
The Clark Estates Inc Management Fees | 12/30/21 | $723,927 |
Tiaa-cref Pension | 12/30/21 | $140,591 |
Financial Statements
| 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 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Farmers Museum Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
National Philanthropic Tr Jenkintown, PA PURPOSE: CULTURE & ARTS | $25,000 |
National Philanthropic Tr Jenkintown, PA PURPOSE: CULTURE & ARTS | $25,000 |
Endowment Analysis
| Beg. Balance | $61,592,877 |
| Earnings | $3,482,232 |
| Admin Expense | $807,163 |
| Other Expense | $1,435,204 |
| Ending Balance | $62,832,742 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gettysburg Foundation Gettysburg, PA | $96,770,268 | $15,954,577 |
National Constitution Center Philadelphia, PA | $153,929,623 | $18,487,505 |
Society For The Preservation Of New England Antiquities Inc Boston, MA | $149,018,347 | $24,101,977 |
Museum Of Jewish Heritage A Living Memorial To The Holocaust New York, NY | $55,434,280 | $9,656,219 |
Museum Of The American Revolution Philadelphia, PA | $136,106,228 | $14,346,373 |
National Baseball Hall Of Fame And Museum Inc Cooperstown, NY | $59,891,798 | $13,912,990 |
Museum Of The City Of New York New York, NY | $66,852,822 | $13,898,529 |
Old Sturbridge Inc Sturbridge, MA | $21,603,377 | $13,063,304 |
Plimoth Patuxet Museums Inc Plymouth, MA | $39,663,068 | $8,933,676 |
Lower East Side Tenement Museum New York, NY | $36,923,048 | $8,687,426 |
Historic Deerfield Inc Deerfield, MA | $76,973,698 | $8,334,092 |
Heritage Plantation Of Sandwich Inc Sandwich, MA | $34,658,032 | $6,604,835 |