Northeast Classic Car Museum Inc
- Assets
- $8.0m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Norwich, NY
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 16-1546130
Organization Overview
Northeast Classic Car Museum Inc is located in Norwich, NY. The organization was established in 1998. 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 12/2021, Northeast Classic Car Museum Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Classic Car 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, Northeast Classic Car Museum Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.3% each year . All expenses for the organization totaled $444.3k during the year ending 12/2021. While expenses have increased by 2.3% 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 PROVIDE THE GENERAL PUBLIC A SERIES OF PARTICIPATORY AND EDUCATIONAL EXHIBITS FOCUSING ON VEHICLES WHICH HAVE PLAYED A ROLE IN THE EVOLUTION OF TRANSPORTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL DISPLAY OF VEHICLES FOR MUSEUM. THE MUSEUM IS OPEN SEVEN DAYS A WEEK AND MOST HOLIDAYS. THE MUSEUM USUALLY ATTRACTS IN EXCESS OF TWELVE THOUSAND VISITORS EACH YEAR.
GENERAL MISSION OF THE ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Littlefield Secretary | OfficerTrustee | 5 | $0 |
Philip Giltner Treasurer | OfficerTrustee | 5 | $0 |
Richard Schutt President | OfficerTrustee | 5 | $0 |
Edward O'reilly Trustee | OfficerTrustee | 5 | $0 |
Thomas Emerson Trustee | Trustee | 0 | $0 |
Daryl Forsythe Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,475 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,496,052 |
| Noncash contributions included in lines 1a–1f | $69,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,504,527 |
| Total Program Service Revenue | $96,183 |
| Investment income | $398,274 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $136,934 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $26,153 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,162,071 |
| 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. | $163,076 |
| Compensation of current officers, directors, key employees. | $39,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,568 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $41,071 |
| Office expenses | $22,434 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,740 |
| 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 | $64,793 |
| Insurance | $27,436 |
| All other expenses | $2,941 |
| Total functional expenses | $444,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $416,276 |
| Savings and temporary cash investments | $141,572 |
| Pledges and grants receivable | $475,000 |
| 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 | $364,043 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,312,422 |
| Investments—publicly traded securities | $4,266,120 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,975,433 |
| Accounts payable and accrued expenses | $142,947 |
| Grants payable | $0 |
| Deferred revenue | $3,419 |
| 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 | $146,366 |
| Net assets without donor restrictions | $6,956,644 |
| Net assets with donor restrictions | $872,423 |
| 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 | $7,975,433 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Northeast Classic Car Museum Inc has recieved totaling $929,500.
| Awarding Organization | Amount |
|---|---|
Higley Foundation Inc Norwich, NY PURPOSE: RENOVATIONS | $350,000 |
The@frederick B And Ramona E Mirabito Foundation Norwich, NY PURPOSE: RENOVATIONS | $350,000 |
R C Smith Foundation Inc Norwich, NY PURPOSE: RENOVATIONS | $150,000 |
Roger Follett Foundation Inc Norwich, NY PURPOSE: DEVELOP A CONCEPTUAL DESIGN FOR FACADE IMPROVEMENTS | $37,500 |
Greater Norwich Foundation Norwich, NY PURPOSE: GENERAL OPERATING SUPPORT | $37,500 |
Thomas M & Esther C Flanagan Charitable Foundation Norwich, NY PURPOSE: GENERAL | $4,000 |
Endowment Analysis
| Beg. Balance | $4,095,350 |
| Earnings | $398,274 |
| Net Contributions | $20,116 |
| Other Expense | $118,768 |
| Ending Balance | $4,394,972 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carnegie Institute Pittsburgh, PA | $541,460,866 | $82,217,609 |
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
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 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
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 |