Monhegan Historial & Cultural Museum Association
- Assets
- $7.7m
- Revenue
- $467.1k
- Investments
- $0.0
- Employees
- 12
- Location
- Monhegan, ME
- Founding
- 02/1985
- Data as of
- 12/2023
- EIN
- 22-2572864
Organization Overview
Monhegan Historial & Cultural Museum Association is located in Monhegan, ME. The organization was established in 1985. 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 12/2023, Monhegan Historial & Cultural Museum Association employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monhegan Historial & Cultural Museum Association 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 12/2023, Monhegan Historial & Cultural Museum Association generated $467.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $376.4k during the year ending 12/2023. While expenses have increased by 6.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MONHEGAN MUSEUM OF ART & HISTORY STEWARDS AND SHARES THE CULTURAL MEMORY OF THE ISLAND TO CONNECT PEOPLE TO THIS PLACE, ITS HISTORY AND EACH OTHER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONHEGAN MUSEUM OF ART & HISTORY STEWARDS AND SHARES THE CULTURAL MEMORY OF THE ISLAND TO CONNECT PEOPLE TO THIS PLACE, ITS HISTORY AND EACH OTHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Broeckelmann Trustee | Trustee | 1 | $12,203 |
Adam Blumenthal President | OfficerTrustee | 12 | $0 |
Susan Bateson Vice President | OfficerTrustee | 16 | $0 |
Elena Henry Treasurer | OfficerTrustee | 3 | $0 |
Will Coleman Trustee | Trustee | 1 | $0 |
Stacie Crocetti Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $308,832 |
| Noncash contributions included in lines 1a–1f | $3,184 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $308,832 |
| Total Program Service Revenue | $0 |
| Investment income | $194,587 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,595 |
| Net Gain/Loss on Asset Sales | -$61,260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,370 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $467,124 |
| 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. | $12,203 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,096 |
| Pension plan accruals and contributions | $3,149 |
| Other employee benefits | $2,227 |
| Payroll taxes | $11,559 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,477 |
| Fees for services: Other | $23,056 |
| Advertising and promotion | $7,735 |
| Office expenses | $5,562 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,983 |
| Travel | $2,952 |
| 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 | $0 |
| Insurance | $29,756 |
| All other expenses | $19,043 |
| Total functional expenses | $376,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $215,683 |
| Savings and temporary cash investments | $25,321 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,388,035 |
| Investments—publicly traded securities | $5,093,153 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $7,722,193 |
| Accounts payable and accrued expenses | $9,879 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $256,673 |
| Total liabilities | $266,552 |
| Net assets without donor restrictions | $6,175,957 |
| Net assets with donor restrictions | $1,279,684 |
| 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 | $7,722,193 |