Liberty Science Center Inc
- Assets
- $127.0m
- Revenue
- $27.2m
- Investments
- $0.0
- Employees
- 316
- Location
- Jersey City, NJ
- Founding
- 12/1982
- Data as of
- 06/2021
- EIN
- 22-2302253
Organization Overview
Liberty Science Center Inc is located in Jersey City, NJ. The organization was established in 1982. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Liberty Science Center Inc employed 316 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Science Center 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 06/2021, Liberty Science Center Inc generated $27.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $21.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 6 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
TO INSPIRE THE NEXT GENERATION OF SCIENTISTS AND ENGINEERS AND EXCITE LEARNERS OF ALL AGES ABOUT THE POWER, PROMISE, AND PURE FUN OF SCIENCE AND TECHNOLOGY.LSC OFFERS EXCEPTIONAL SCIENCE LEARNING ONSITE, OFFSITE, AND ONLINE AS WELL AS PROFESSIONAL DEVELOPMENT FOR TEACHERS.
Describe the Organization's Program Activity:
LIBERTY SCIENCE CENTER HAS BROAD AMBITIONS AND SOUND STRATEGIES TO CHANGE THE FACE OF SCIENCE EDUCATION IN NEW JERSEY AND BEYOND. IN ADDITION TO ITS ENGAGING EXHIBITION AND THEATER OFFERINGS, AN IMPORTANT TOOL IN ACHIEVING THAT OBJECTIVE IS THE CENTER FOR LEARNING AND TEACHING. THE 19,000-SQUARE-FOOT FACILITY IS DEDICATED TO DELIVERING EDUCATIONAL PROGRAMMING FOR STUDENTS, GUESTS, TEACHERS, AND VISITORS. IT IS THE HOME OF LSC'S INTERNATIONALLY ACCLAIMED "LIVE FROM SURGERY" PROGRAM, WHERE STUDENTS OBSERVE AND DISCUSS PROCEDURES AND RISK FACTORS WITH OPERATING STAFF VIA VIDEOCONFERENCING DURING LIVE SURGERY. IT ALSO FEATURES SEVEN WORKING LABS INCLUDING THE MAKERLAB, AS WELL AS THE STUDIO FOR ELECTRONIC FIELD TRIPS. IN THIS SPACE, LSC PROVIDES OUTSTANDING AND AFFORDABLE EDUCATOR PROFESSIONAL DEVELOPMENT OPPORTUNITIES. SCHOOL RESIDENCIES ARE AVAILABLE THERE FOR SPECIAL NEEDS, HOME SCHOOLERS, AND OTHER STUDENTS. LIBERTY SCIENCE CENTER ALSO CONDUCTS CURRICULUM-LINKED ONSITE, OFFSITE, AND ONLINE PROGRAMS INCLUDING FIELD TRIPS, CLASSROOM AND LAB INSTRUCTION, INTERPRETIVE PROGRAMS IN BOTH FORMAL AND INFORMAL SETTINGS, TRAVELING SCIENCE PRESENTATIONS, AND EARLY CHILDHOOD SCIENCE PROGRAMMING. THE INSTITUTION OFFERS MUSEUM STRATEGIC PLANNING AND DESIGN SERVICES, ANNUALLY HOSTS HUNDREDS OF PRIVATE EVENTS FROM BIRTHDAY PARTIES TO HIGH-END PRODUCT LAUNCHES, HOSTS WORKFORCE DEVELOPMENT INITIATIVES, AND SHOWCASES PUBLIC SCIENCE- AND TECHNOLOGY- RELATED EVENTS FROM ROBOTICS COMPETITIONS TO LIVE ANIMAL SHOWS TO ROCKETRY LESSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Hoffman President & CEO | Officer | 70 | $752,733 |
Christine Arnold-Schroeder VP External Affairs | Officer | 60 | $222,147 |
Tamour Kousha Chief Financial Officer | Officer | 60 | $211,493 |
Iowaka Barber Chief People Officer | Officer | 60 | $185,703 |
Amanda Cunningham Chief Operating Officer | Officer | 60 | $171,619 |
Lisa Hayward Sr. Director, Indiv. Giving | 50 | $144,327 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skanska Usa Building Inc General Contractor | 6/29/21 | $2,402,421 |
Iss Facility Services Building Engineers | 6/29/21 | $1,361,379 |
Delta Building Services Corp Maintenance Services | 6/29/21 | $558,965 |
Engine Media Llc Consulting & Advertising | 6/29/21 | $351,188 |
Video This Inc Drone Video Services | 6/29/21 | $361,450 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $601,191 |
| Fundraising events | $2,284,241 |
| Related organizations | $0 |
| Government grants | $3,517,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,280,429 |
| Noncash contributions included in lines 1a–1f | $1,153,140 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,682,861 |
| Total Program Service Revenue | $5,006,497 |
| Investment income | $129,525 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $227,466 |
| Net Gain/Loss on Asset Sales | $162,586 |
| Net Income from Fundraising Events | -$298,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,177,240 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,895,348 |
| Compensation of current officers, directors, key employees. | $714,679 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,884,840 |
| Pension plan accruals and contributions | $244,168 |
| Other employee benefits | $702,536 |
| Payroll taxes | $487,273 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $172,318 |
| Fees for services: Accounting | $82,950 |
| Fees for services: Lobbying | $126,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,853 |
| Fees for services: Other | $1,254,231 |
| Advertising and promotion | $273,144 |
| Office expenses | $413,001 |
| Information technology | $188,167 |
| Royalties | $8,746 |
| Occupancy | $3,716,023 |
| Travel | $16,689 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,792 |
| Interest | $327,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,131,914 |
| Insurance | $359,264 |
| All other expenses | $0 |
| Total functional expenses | $21,942,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,128,873 |
| Savings and temporary cash investments | $26,232,942 |
| Pledges and grants receivable | $4,460,456 |
| Accounts receivable, net | $117,967 |
| 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 | $401,437 |
| Net Land, buildings, and equipment | $82,034,295 |
| Investments—publicly traded securities | $4,621,377 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,000 |
| Total assets | $127,014,347 |
| Accounts payable and accrued expenses | $2,829,287 |
| Grants payable | $0 |
| Deferred revenue | $1,453,019 |
| 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 | $8,139,353 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,576,828 |
| Total liabilities | $16,998,487 |
| Net assets without donor restrictions | $65,979,192 |
| Net assets with donor restrictions | $44,036,668 |
| 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 | $127,014,347 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Liberty Science Center Inc has recieved totaling $2,536,036.
| Awarding Organization | Amount |
|---|---|
Scully Memorial Foundation San Rafael, CA PURPOSE: GENERAL SUPPORT | $1,500,000 |
The Paul And Phyllis Fireman Charitable Foundation Waltham, MA PURPOSE: FOR DONEE'S EXEMPT PURPOSE | $325,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $115,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $101,063 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100,000 |
Prudential Foundation Inc Newark, NJ PURPOSE: LIBERTY SCIENCE CENTER GENERAL OPERATING SUPPORT FY 22 | $100,000 |
Endowment Analysis
| Beg. Balance | $3,749,661 |
| Earnings | $931,429 |
| Ending Balance | $4,681,090 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Liberty Science Center Inc Jersey City, NJ | $127,014,347 | $27,177,240 |
New York Hall Of Science Corona, NY | $55,888,000 | $24,146,143 |
Museums At Mitchel Garden City, NY | $4,107,366 | $4,719,016 |
Sciencenter Discovery Museum Ithaca, NY | $10,990,540 | $3,575,677 |
Discovery Center Of Science And Technology Syracuse, NY | $7,086,838 | $2,939,624 |
Antique Boat Museum Clayton, NY | $21,965,515 | $5,416,390 |
Lancaster Science Center Lancaster, PA | $3,068,922 | $1,227,133 |
Buehler Challenger & Science Center Foundation Inc Paramus, NJ | $1,090,071 | $724,251 |
Sterling Hill Mining Museum Inc Ogdensburg, NJ | $7,322,067 | $422,071 |
Quiet Valley Living Historical Farm Stroudsburg, PA | $2,239,844 | $387,900 |
Regional Science And Discovery Center Inc Corning, NY | $92,355 | $389,592 |
National Lighthouse Museum Staten Island, NY | $162,800 | $243,558 |