Historic Morven Inc
- Assets
- $25.2m
- Revenue
- $1.3m
- Investments
- $13.6m
- Employees
- 22
- Location
- Princeton, NJ
- Founding
- 07/1987
- Data as of
- 06/2023
- EIN
- 22-2817982
Organization Overview
Historic Morven Inc is located in Princeton, NJ. The organization was established in 1987. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Historic Morven Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Morven 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 06/2023, Historic Morven Inc generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2023. 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
THE MISSION OF HISTORIC MORVEN, INC. IS TO PRESERVE THE NATIONAL HISTORIC LANDMARK KNOWN AS MORVEN BY OPERATING IT AS A MUSEUM AND PUBLIC GARDEN THAT EDUCATES DIVERSE AUDIENCES AND SHOWCASES ITS RICH HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ASSISTS THE STATE OF NEW JERSEY IN THE PRESERVATION AND RESTORATION OF THE HISTORIC SITE KNOWN AS MORVEN BY PROVIDING FINANCIAL AND TECHNICAL ASSISTANCE. IT OPERATES A MUSEUM AND PUBLIC GARDEN AT MORVEN THAT SHOWCASES THE CULTURAL HERITAGE OF NEW JERSEY IN ACCORDANCE WITH THE COOPERATIVE AGREEMENT BETWEEN THE ORGANIZATION AND THE STATE OF NEW JERSEY. THE MUSEUM STAFF CARE FOR COLLECTIONS AND COLLECTION ITEMS THAT ARE DEPOSITED OR EXHIBITED AT MORVEN. THE ORGANIZATION EDUCATES THE PUBLIC ABOUT NEW JERSEY'S CULTURAL HERITAGE THROUGH EXHIBITION, INTERPRETATION, AND CULTURAL PROGRAMS. THE MUSEUM STAFF COLLABORATES WITH THE NEW JERSEY STATE MUSEUM AND OTHER MUSEUM, HISTORIC SITES, AND EDUCATIONAL ORGANIZATIONS IN THE FURTHERANCE OF THESE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Smith Morehouse Chair | OfficerTrustee | 7 | $0 |
Robert P O'neil Vice Chair | OfficerTrustee | 7 | $0 |
Rachel P Herr Treasurer | OfficerTrustee | 7 | $0 |
John M Healey Secretary | OfficerTrustee | 7 | $0 |
Roncia Bregenzer Trustee | Trustee | 7 | $0 |
Christopher Rice Trustee | Trustee | 7 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $288,070 |
| Related organizations | $0 |
| Government grants | $247,294 |
| All other contributions, gifts, grants, and similar amounts not included above | $393,986 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $929,350 |
| Total Program Service Revenue | $250,384 |
| Investment income | $213,727 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,205 |
| Net Gain/Loss on Asset Sales | -$64,160 |
| Net Income from Fundraising Events | -$61,775 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $36,144 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,339,875 |
| 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. | $154,671 |
| Compensation of current officers, directors, key employees. | $17,175 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $449,008 |
| Pension plan accruals and contributions | $14,152 |
| Other employee benefits | $39,450 |
| Payroll taxes | $71,992 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,464 |
| Fees for services: Accounting | $14,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,512 |
| Fees for services: Other | $15,080 |
| Advertising and promotion | $2,767 |
| Office expenses | $13,701 |
| Information technology | $13,224 |
| Royalties | $0 |
| Occupancy | $194,931 |
| Travel | $373 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,240 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $528,464 |
| Insurance | $30,184 |
| All other expenses | $4,305 |
| Total functional expenses | $1,738,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $343,983 |
| Savings and temporary cash investments | $718,072 |
| Pledges and grants receivable | $22,542 |
| 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 | $50,785 |
| Prepaid expenses and deferred charges | $5,764 |
| Net Land, buildings, and equipment | $10,427,447 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,603,224 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,171,817 |
| Accounts payable and accrued expenses | $32,283 |
| Grants payable | $0 |
| Deferred revenue | $65,672 |
| 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 | $10,512 |
| Total liabilities | $108,467 |
| Net assets without donor restrictions | $12,629,838 |
| Net assets with donor restrictions | $12,433,512 |
| 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 | $25,171,817 |