Science Museum Of Virginia Foundation Incorporated
- Assets
- $33.1m
- Revenue
- $3.7m
- Investments
- $24.3m
- Employees
- 9
- Location
- Richmond, VA
- Founding
- 08/1972
- Data as of
- 06/2024
- EIN
- 23-7185836
Organization Overview
Science Museum Of Virginia Foundation Incorporated is located in Richmond, VA. The organization was established in 1972. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Science Museum Of Virginia Foundation Incorporated employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Science Museum Of Virginia Foundation Incorporated 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 06/2024, Science Museum Of Virginia Foundation Incorporated generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $4.9m during the year ending 06/2024. While expenses have increased by 2.6% 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
THE SCIENCE MUSEUM OF VIRGINIA FOUNDATION (SMVF), INC. SUPPORTS THE SCIENCE MUSEUM OF VIRGINIA (SMV), A PREMIER CENTER FOR HANDS-ON SCIENCE EDUCATION IN VIRGINIA. PERMANENT EXHIBITIONS INCLUDE INTERACTIVE EXHIBITS ON A WIDE RANGE OF SCIENCE TOPICS. ADDITIONAL MUSEUM PROGRAMS INCLUDE VISITING EXHIBITIONS, DIGITAL DOME PLANETARIUM AND MOVIE EVENTS, EDUCATIONAL PROGRAMMING, OVERNIGHT ADVENTURES, LECTURES, DEMONSTRATIONS, LIVE THEATER AND SUMMER CAMPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW EXHIBIT PURCHASE AND MAINTENANCE: THE SCIENCE MUSEUM OF VIRGINIA FOUNDATION SUPPORTS HUNDREDS OF MUSEUM PERMANENT EXHIBITS AND VISITING EXHIBITS THROUGHOUT THE YEAR, OFFERING VISITORS HANDS-ON OPPORTUNITIES TO LEARN AND EXPERIMENT WITH SCIENCE CONCEPTS.
MUSEUM UNRESTRICTED OPERATING SUPPORT: THE SCIENCE MUSEUM OF VIRGINIA'S STATEWIDE MISSION IS TO INSPIRE VIRGINIANS TO ENRICH THEIR LIVES THROUGH SCIENCE. SMVF SUPPORTS THE GOALS AND ASPIRATIONS OF THE MUSEUM BY PROVIDING SUPPORT FOR MUSEUM GENERAL OPERATIONS, INCLUDING STAFFING, MATERIALS, AND SERVICES.
EDUCATIONAL PROGRAMMING AND OUTREACH: THE SCIENCE MUSEUM OF VIRGINIA FOUNDATION SUPPORTS MUSEUM EDUCATIONAL PROGRAMMING IN THE FORM OF CLASSES, ACTIVITIES, LECTURES, EDUCATIONAL WORKSHOPS AND TRAINING FOR ALL AGES, AND PROVIDES FUNDING FOR GROUP MUSEUM VISITS FOR SCHOOLCHILDREN AND COMMUNITY ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Alexander IV Director | Trustee | 1 | $0 |
Scott Aronson Director | Trustee | 1 | $0 |
Richard C Conti Director | Trustee | 1 | $8,701 |
David E Cottrell Director | Trustee | 1 | $0 |
Elizabeth Dolan Wright Director | Trustee | 1 | $0 |
Anne Marie Elles Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $276,786 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,194,997 |
| Noncash contributions included in lines 1a–1f | $113,576 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,471,783 |
| Total Program Service Revenue | $669,227 |
| Investment income | $595,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,739,341 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,627,760 |
| 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. | $223,864 |
| Compensation of current officers, directors, key employees. | $104,502 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $539,240 |
| Pension plan accruals and contributions | $12,722 |
| Other employee benefits | $45,887 |
| Payroll taxes | $55,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150 |
| Fees for services: Accounting | $30,285 |
| Fees for services: Lobbying | $50,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $112,503 |
| Fees for services: Other | $50,625 |
| Advertising and promotion | $11,178 |
| Office expenses | $28,584 |
| Information technology | $34,968 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,535 |
| 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 | $3,191 |
| Insurance | $10,038 |
| All other expenses | $9,725 |
| Total functional expenses | $4,929,734 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,326,901 |
| Pledges and grants receivable | $450,608 |
| Accounts receivable, net | $6,600 |
| 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 | $33,944 |
| Net Land, buildings, and equipment | $6,072 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,283,115 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,107,240 |
| Accounts payable and accrued expenses | $36,461 |
| Grants payable | $0 |
| Deferred revenue | $426,585 |
| 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 | $2,016,152 |
| Total liabilities | $2,479,198 |
| Net assets without donor restrictions | $3,553,055 |
| Net assets with donor restrictions | $27,074,987 |
| 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 | $33,107,240 |