Phelps Mansion Museum
- Assets
- $1.6m
- Revenue
- $210.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Binghamton, NY
- Founding
- 03/2007
- Data as of
- 05/2024
- EIN
- 20-8438618
Organization Overview
Phelps Mansion Museum is located in Binghamton, NY. The organization was established in 2007. 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 05/2024, Phelps Mansion Museum employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phelps Mansion 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 05/2024, Phelps Mansion Museum generated $210.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $282.5k during the year ending 05/2024. While expenses have increased by 5.0% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND UTILIZE THE PHELPS MANSION AND IT'S COLLECTIONS TO SERVE THE PUBLIC THROUGH TOURS EXHIBITS AND PROGRAMS THAT EMPHASIZE LOCAL HISTORY, EDUCATION, LITERATURE, ART AND MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S COLLECTIONS CONSIST OF ANTIQUE FURNITURE AND FIXTURES DISPLAYED IN THE PHELPS MANSION MUSEUM (A HISTORICAL HOUSE MUSEUM) WHICH FUNCTIONS AS AN EDUCATIONAL MUSEUM. THERE IS A SMALL COLLECTIONS OF CLOTHING FROM THE VICTORIAN AND EDWARDIAN PERIODS, AND A COLLECTION OF WOODWORKING TOOLS OF A CABINET MAKER WHO WORKED ON BUILDING THE MANSION IN THE EARLY 1870'S (DONATED BY THE FAMILY TO THE MUSEUM). THE MUSEUM HAS HAD EXHIBITS OF THIS PART OF OUR COLLECTIONS. ADDITIONAL EXHIBITS OF OTHER PARTS OF OUR COLLECTIONS ARE IN THE PLANNING STAGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Reardon Director | Trustee | 1 | $0 |
Paul Miller Secretary | OfficerTrustee | 1 | $0 |
John Chaffee Director | Trustee | 1 | $0 |
Lance Hill Governance Chair | Trustee | 1 | $0 |
Susan Macharyas Board Chair | OfficerTrustee | 3 | $0 |
Mildred Dewitt Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,255 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,536 |
| All other contributions, gifts, grants, and similar amounts not included above | $54,379 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,170 |
| Total Program Service Revenue | $72,381 |
| Investment income | $6,443 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $48,627 |
| Net Income from Fundraising Events | $7,090 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $210,711 |
| 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. | $51,480 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,789 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,732 |
| Fees for services: Accounting | $4,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $275 |
| Advertising and promotion | $3,952 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,365 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,991 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,155 |
| Insurance | $15,387 |
| All other expenses | $0 |
| Total functional expenses | $282,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,252 |
| Savings and temporary cash investments | $21,196 |
| 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 | $420 |
| Net Land, buildings, and equipment | $1,299,467 |
| Investments—publicly traded securities | $230,900 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,554,235 |
| Accounts payable and accrued expenses | $2,250 |
| 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 | $31,762 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,012 |
| Net assets without donor restrictions | -$247,406 |
| Net assets with donor restrictions | $1,767,629 |
| 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 | $1,554,235 |