Lane Motor Museum
- Assets
- $12.5m
- Revenue
- $4.8m
- Investments
- $8.6m
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 07/2002
- Data as of
- 12/2021
- EIN
- 26-0056922
Organization Overview
Lane Motor Museum is located in Nashville, TN. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lane Motor Museum 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, Lane Motor Museum generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 9.9% per year over the past 7 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACQUISITION AND PRESERVATION OF A MOSTLY EUROPEAN COLLECTION OF AUTOMOBILES BUILT FROM 1940-1990. THE COLLECTION HOUSES UNIQUE CARS NOT TYPICALLY SEEN IN THE U.S. IT REPRESENTS A BROAD CROSS-SECTION OF VEHICLES-30 MARQUES REPRESENTING AT LEAST EIGHT COUNTRIES (FRANCE, GERMANY, CZECH, GREAT BRITAIN, HOLLAND, ITALY, JAPAN, AND THE U.S.). IT INCLUDES THE LARGEST TATRA COLLECTION OUTSIDE EUROPE, A SUBSTANTIAL MICRO CAR SELECTION, AMPHIBIOUS VEHICLES, COMPETITION CARS, ELECTRIC/ BATTERY POWERED CARS, MILITARY VEHICLES, AND A COLLECTION OF MOTORCYCLES. THIS IS A WORKING MUSEUM, THE GOAL OF WHICH IS TO MAINTAIN ALL THE VEHICLES IN A RUNNING CONDITION. EFFORTS ARE MADE TO RESTORE EACH VEHICLE TO NEAR ORIGINAL SPECIFICATIONS. THE MUSEUM IS AVAILABLE TO THE PUBLIC, AS WELL AS STUDENTS, CIVIC ORANIZATIONS, AND CAR CLUBS FOR EDUCATIONAL PURPOSES. DISPLAYS DETAIL THE CARS AND THE ORIGIN OF THE CAR COMPANY/FOUNDER. THE MUSEUM ALSO HOUSES AN EXTENSIVE COLLECTION OF CAR-RELATED ARTWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Yando Secretary/board Member | 40 | $82,549 | |
Gregory Coston Restoration Shop Mgr | 40 | $82,008 | |
James R Green Restoration Shop | 40 | $68,008 | |
Michael Huby Restoration Shop | 40 | $65,464 | |
Bernadine L Upson Accountant | 40 | $61,205 | |
Robert Jones Restoration Shop | 40 | $60,429 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,357,616 |
| Interest on Savings | $0 |
| Dividends & Interest | $162,567 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $589,904 |
| Capital Gain Net Income | $589,904 |
| Net ST Capital Gain | $638 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $50,686 |
| Other Income | $632,707 |
| Total Revenue | $4,793,480 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $82,549 |
| Other employee salaries and wages | $670,749 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $68,922 |
| Depreciation | $123,018 |
| Occupancy | $164,726 |
| Travel, conferences, and meetings | $11,762 |
| Printing and publications | $8,627 |
| Other expenses | $1,338,077 |
| Total operating and administrative expenses | $2,497,496 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,497,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $976,712 |
| Savings and temporary cash investments | $14,853 |
| Net Accounts receivable | $538 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $23,296 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $8,568,017 |
| Net Land, buildings, and equipment | $2,897,046 |
| Other assets | $1,000 |
| Total assets | $12,481,462 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $27,761 |
| Total liabilities | $27,761 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |
The Haslam 3 Foundation Inc Knoxville, TN | $5,285,692 | $10,045,433 |
Phil J And Alice S Sheridan Foundation Inc Macon, GA | $17,357,251 | $6,663,970 |
Davis Love Iii Foundation St Simons Island, GA | $5,238,841 | $10,992,325 |
Scarlett Family Foundation Nashville, TN | $163,054,305 | $18,551,241 |