International African American Museum
- Assets
- $63.9m
- Revenue
- $11.9m
- Investments
- $2.5m
- Employees
- 35
- Location
- Charleston, SC
- Founding
- 02/2007
- Data as of
- 12/2022
- EIN
- 20-3398254
Organization Overview
International African American Museum is located in Charleston, SC. The organization was established in 2007. 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, International African American Museum employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International African American 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 12/2022, International African American Museum generated $11.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $19.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LOCATED ON ONE OF THE MOST IMPORTANT SITES IN AMERICAN HISTORY, THE PORT OF ARRIVAL FOR NEARLY HALF OF ALL AFRICANS FORCED TO NORTH AMERICA, THE INTERNATIONAL AFRICAN AMERICAN MUSEUM (IAAM) IN CHARLESTON WILL ILLUMINATE THE INFLUENTIAL HISTORIES OF AFRICANS AND THEIR DESCENDANTS IN SOUTH CAROLINA, HIGHLIGHTING THEIR DIASPORIC CONNECTIONS THROUGHOUT THE NATION AND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM PLANNING - THE DEPARTMENT OF MUSEUM PLANNING AND OPERATIONS IS RESPONSIBLE FOR THE DEVELOPMENT, MANAGEMENT, AND IMPLEMENTATION OF THE MUSEUM'S CAPITAL PROGRAM, BUILDING OPERATIONS, AND BUSINESS INITIATIVES. THE DIRECTOR OF MUSEUM PLANNING AND OPERATIONS COORDINATES THE BUILDING CONSTRUCTION, BUILDING UPFIT (ARTIFACTS; FURNITURE, FIXTURES, AND EQUIPMENT, ETC.), OCCUPANCY, AND STAFF MOVE-IN FACILITIES, SECURITY, EMERGENCY PREPAREDNESS, IT, CAFE, AND STORE IN CLOSE COLLABORATION WITH THE CEO, MUSEUM STAFF, AND CAPITAL PARTNERS. A KEY FOCUS FOR THE DEPARTMENT IS 'DAY ONE PLANNING,' WHICH REFLECTS THE INTEGRATION OF ALL MUSEUM DEPARTMENTS AND OPERATIONS WITH THE CONSTRUCTION TIMELINE TO ENSURE THAT THE MUSEUM IS PREPARED TO SUCCESSFULLY OPERATE ON 'DAY ONE.'
EDUCATION AND ENGAGEMENT - THE DEPARTMENT OF EDUCATION AND ENGAGEMENT IS FOCUSED ON EXECUTING A ROBUST AND EFFECTIVE COMMUNITY ENGAGEMENT STRATEGY THAT WILL ENABLE THE MUSEUM TO BUILD AUTHENTIC LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL RELATIONSHIPS AND SOCIAL CAPITAL WITH TARGET AUDIENCES AND ADVANCING THE MUSEUM'S OVERARCHING COMMUNITY RELATIONS. THIS SUITE OF PROGRAMMING ENDEAVORS TO ADVANCE THE MISSION OF THE MUSEUM WHILE CONNECTING THE AUDIENCES TO AFRICAN AND AFRICAN AMERICAN HISTORY AND CULTURE. THE DEPARTMENT IS ALSO ENGAGED IN DEVELOPING CONTENT AND FOUNDATIONAL INFRASTRUCTURE FOR THE MUSEUM'S EDUCATION PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grady L Crosby Board Member | Trustee | 1 | $0 |
Henry B Smythe ESQ Board Member | Trustee | 1 | $0 |
James Hairston Board Member | Trustee | 1 | $0 |
Katherine S Robinson Board Member | Trustee | 1 | $0 |
Minor Mickel Shaw Board Member | Trustee | 1 | $0 |
Peg A Breen Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Visible Life Llc Curatorial Consulting | 12/30/22 | $528,078 |
Berlin Rosen Ltd Marketing Administration | 12/30/22 | $135,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,731,617 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,450,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,602,289 |
| Noncash contributions included in lines 1a–1f | $6,400 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,783,906 |
| Total Program Service Revenue | $0 |
| Investment income | $136,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $959 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,921,609 |
| 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. | $902,733 |
| Compensation of current officers, directors, key employees. | $334,910 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,017,277 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $304,098 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $83,500 |
| Fees for services: Fundraising | $2,568,766 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,022,002 |
| Advertising and promotion | $7,593 |
| Office expenses | $176,781 |
| Information technology | $273,562 |
| Royalties | $0 |
| Occupancy | $834,157 |
| Travel | $40,049 |
| 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 | $3,853 |
| Insurance | $0 |
| All other expenses | $184,319 |
| Total functional expenses | $19,120,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,555,901 |
| Savings and temporary cash investments | $2,404,671 |
| Pledges and grants receivable | $6,634,621 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,970,480 |
| Inventories for sale or use | $41,995 |
| Prepaid expenses and deferred charges | $767,175 |
| Net Land, buildings, and equipment | $31,647 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,480,473 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,034,942 |
| Total assets | $63,921,905 |
| Accounts payable and accrued expenses | $2,168,471 |
| Grants payable | $0 |
| Deferred revenue | $125,000 |
| 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 | $2,293,471 |
| Net assets without donor restrictions | $47,035,796 |
| Net assets with donor restrictions | $14,592,638 |
| 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 | $63,921,905 |