Franklin Mineral Museum Inc
- Assets
- $1.6m
- Revenue
- $200.3k
- Investments
- $510.6k
- Employees
- 10
- Location
- Franklin, NJ
- Founding
- 09/1965
- Data as of
- 12/2021
- EIN
- 22-6068366
Organization Overview
Franklin Mineral Museum Inc is located in Franklin, NJ. The organization was established in 1965. According to its NTEE Classification (A56) the organization is classified as: Natural History & Natural Science Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Franklin Mineral Museum Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Mineral Museum 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 12/2021, Franklin Mineral Museum Inc generated $200.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $125.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.1%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATION AND SCIENTIFIC KNOWLEDGE WITH EMPHASIS ON THE HISTORY OF FRANKLIN-STERLING MINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM IS OPEN TO THE PUBLIC FROM APRIL TO DECEMBER. MINERALS AND MINE REPLICA ARE VIEWED BY VISITORS. LECTURES ARE GIVEN AND IDENTIFICATION OF MINERALS IS ONGOING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Earl Verbeek Vice President | OfficerTrustee | 10 | $706 |
Dan Goscicki Treasurer | OfficerTrustee | 10 | $0 |
John Postas President | OfficerTrustee | 10 | $0 |
Phillip Crabb Secretary | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $780 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,220 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,000 |
| Total Program Service Revenue | $82,963 |
| Investment income | $6,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,110 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $93,020 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,308 |
| 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. | $706 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,191 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,328 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,003 |
| Office expenses | $3,091 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $131 |
| 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 | $8,354 |
| Insurance | $14,901 |
| All other expenses | $13,039 |
| Total functional expenses | $125,176 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,244 |
| Savings and temporary cash investments | $233,047 |
| 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 | $16,044 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $263,915 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $510,642 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $612,064 |
| Total assets | $1,638,956 |
| Accounts payable and accrued expenses | $8,663 |
| 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 | $55,000 |
| Total liabilities | $63,663 |
| Net assets without donor restrictions | $1,104,455 |
| Net assets with donor restrictions | $470,838 |
| 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 | $1,638,956 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Franklin Mineral Museum Inc has recieved totaling $13.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Endowment Analysis
| Beg. Balance | $470,838 |
| Ending Balance | $470,838 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rochester Museum And Science Center Rochester, NY | $32,141,900 | $9,942,117 |
Natural History Museum Of The Adirondacks Tupper Lake, NY | $35,795,696 | $7,881,578 |
Buffalo Society Of Natural Sciences Buffalo, NY | $29,536,038 | $5,760,811 |
Delaware And Lehigh National Heritage Corridor Inc Easton, PA | $5,340,261 | $2,619,266 |
Bronx Childrens Museum Bronx, NY | $3,102,925 | $1,502,216 |
Institute For Aegean Prehistory Study Center For East Crete New York, NY | $707,056 | $1,375,391 |
Steam Into History Inc New Freedom, PA | $6,099,078 | $1,816,978 |
Hudson Highlands Nature Museum Cornwall, NY | $1,547,049 | $1,233,935 |
North Museum Corporation Lancaster, PA | $3,613,910 | $737,297 |
Henry L Ferguson Museum Fishers Island, NY | $14,604,102 | $965,512 |
Cape May Point Science Center Cape May, NJ | $5,583,750 | $937,449 |
Delaware Academy Of Science Inc Newark, DE | $1,134,449 | $86,459 |