Heritage Farmstead Association
- Assets
- $1.1m
- Revenue
- $791.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Plano, TX
- Founding
- 04/1977
- Data as of
- 09/2021
- EIN
- 23-7296470
Organization Overview
Heritage Farmstead Association is located in Plano, TX. The organization was established in 1977. 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 09/2021, Heritage Farmstead Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Farmstead 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 09/2021, Heritage Farmstead Association generated $791.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $658.4k during the year ending 09/2021. 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
THE ORGANIZATION WAS FORMED TO PRESERVE THE HOME AND GROUNDS OF THE FARREL-WILSON FARMSTEAD ( NOW KNOWN AS THE HERITAGE FARMSTEAD)WHICH WAS TRANSFORMED INTO A LIVING MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PRESERVES AND MAINTAINS AS A HISTORY MUSEUM THE HERITAGE FARMSTEAD WHICH HAS BEEN AWARDED AS A STATE OF TEXAS HISTORICAL MARKER AND LISTING IN THE NATIONAL REGISTER OF HISTORIC PLACES. THE ORGANIZATION HAS WORKED TO PRESERVE, TEACH AND DEMONSTRATE AGRICULTURAL HISTORY TO MORE THAN 30,000 VISITORS ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M'lou Hyttinen Executive Director | Officer | 40 | $99,000 |
Teresa Carver Secretary | OfficerTrustee | 1 | $0 |
David Stolle President | OfficerTrustee | 1 | $0 |
Brittnea Ussery- Daniel Vice President | OfficerTrustee | 1 | $0 |
Joan Stephens Treasurer | OfficerTrustee | 1 | $0 |
Judy Aerdts Trustee | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $11,169 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $432,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,635 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $551,804 |
| Total Program Service Revenue | $167,036 |
| Investment income | $5,560 |
| 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 | $791,650 |
| 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. | $99,000 |
| Compensation of current officers, directors, key employees. | $29,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,376 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,590 |
| Payroll taxes | $22,910 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,852 |
| Information technology | $1,637 |
| Royalties | $0 |
| Occupancy | $157,554 |
| Travel | $2,235 |
| 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 | $75,445 |
| Insurance | $11,266 |
| All other expenses | $0 |
| Total functional expenses | $658,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,195 |
| Savings and temporary cash investments | $274,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,970 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,533 |
| Prepaid expenses and deferred charges | $1,542 |
| Net Land, buildings, and equipment | $683,240 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,051,028 |
| Accounts payable and accrued expenses | $7,547 |
| Grants payable | $0 |
| Deferred revenue | $46,405 |
| 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 | $0 |
| Total liabilities | $53,952 |
| Net assets without donor restrictions | $934,295 |
| Net assets with donor restrictions | $62,781 |
| 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 | $1,051,028 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Heritage Farmstead Association has recieved totaling $18,422.
| Awarding Organization | Amount |
|---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $18,366 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $56 |
Endowment Analysis
| Beg. Balance | $100 |
| Ending Balance | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Galveston Historical Foundation Inc Galveston, TX | $33,194,723 | $16,815,449 |
Oklahoma Hall Of Fame Inc Oklahoma City, OK | $15,367,222 | $1,723,507 |
Mamie Mcfaddin Ward Heritage Foundation Beaumont, TX | $39,179,042 | $6,717,900 |
San Antonio Conservation Society San Antonio, TX | $5,466,281 | $1,168,192 |
Texas State Historical Association Austin, TX | $3,131,063 | $1,524,927 |
Friends Of The Texas Historical Commission Inc Austin, TX | $2,566,548 | $1,192,867 |
Texas Panhandle Heritage Foundation Inc Canyon, TX | $2,876,376 | $2,832,442 |
Corpus Christi Area Heritage Society Corpus Christi, TX | $1 | $1,500 |
Dallas Historical Society Hall Of State Fair Park Dallas, TX | $2,271,425 | $1,532,505 |
Cherokee National Historical Society Inc Tahlequah, OK | $2,426,107 | $954,302 |
River Road Historical Society Destrehan, LA | $8,368,126 | $1,410,629 |
Tulsa Historical Society Tulsa, OK | $8,618,832 | $802,922 |