Museum Of Science And Industry
- Assets
- $409.6m
- Revenue
- $64.4m
- Investments
- $59.2m
- Employees
- 408
- Location
- Chicago, IL
- Founding
- 04/1938
- Data as of
- 12/2022
- EIN
- 36-2167797
Organization Overview
Museum Of Science And Industry is located in Chicago, IL. The organization was established in 1938. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Museum Of Science And Industry employed 408 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Science And Industry 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 12/2022, Museum Of Science And Industry generated $64.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $52.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MSI'S MISSION IS TO INSPIRE THE INVENTIVE GENIUS IN EVERYONE.
Describe the Organization's Program Activity:
WORLD-CLASS PERMANENT EXHIBITIONS INCLUDE SCIENCE STORMS, A 26,000-SQUARE-FOOT EXHIBIT THAT REVEALS THE EXTRAORDINARY SCIENCE BEHIND SOME OF NATURE'S MOST POWERFUL AND COMPELLING PHENOMENA; AND YOU! THE EXPERIENCE, A 15,000-SQUARE-FOOT EXHIBIT THAT EXPLORES THE HUMAN MIND, BODY AND SPIRIT. OTHER FAVORITE EXPERIENCES INCLUDE THE U-505 SUBMARINE, THE ONLY GERMAN U-BOAT CAPTURED DURING WORLD WAR II, SURROUNDED BY MORE THAN 30,000 SQUARE FEET OF ARTIFACTS AND INTERACTIVE ACTIVITIES; THE COAL MINE, A REPRODUCTION OF AN ILLINOIS COAL MINE THAT TAKES GUEST DOWN 50 FEET IN A REAL HOIST TO THE BOTTOM OF A MINESHAFT; THE GREAT TRAIN STORY, A DYNAMIC MODEL DISPLAY THAT ILLUSTRATES MODERN RAIL OPERATION; AND THE GIANT DOME THEATER, WHICH FEATURES EDUCATIONAL FILMS, RICH IN CONTENT AND PRESENTED ON CHICAGO'S ONLY FIVE-STORY, DOMED WRAP-AROUND MOVIE SCREEN.
RETAIL AND SUPPORTING SERVICES REPRESENT VARIOUS PROGRAM OFFERINGS THAT ENHANCE THE GUEST EXPERIENCE. THESE INCLUDE THE MUSUEM STORE, FOOD SERVICES, AND PARKING SERVICES.
EDUCATIONAL PROGRAMS AND ACTIVITIES. THE MUSEUM'S EDUCATION PROGRAMMING IMPACTS GUESTS AND STUDENTS IN THE BUILDING AND IN THEIR COMMUNITIES IN A VARIETY OF WAYS. MSI OFFERS LIVE SCIENCE DEMONSTRATIONS, FACILITATED LEARNING LABS FOR SCHOOL GROUPS, FREE TEACHER DEVELOPMENT AND TRAINING, ONLINE EXPERIMENTS AND LESSON PLANS, AFTER-SCHOOL SCIENCE CLUB NETWORKS IN UNDERSERVED COMMUNITIES, AND A CLUB FOR TEENS THAT HELPS THEM LEARN SCIENCE SKILLS AS THEY PREPARE FOR COLLEGE.
MUSEUM AND OPERATIONS, WHICH INCLUDE PROGRAM SUPPORT SERVICES AND EXHIBIT MAINTENANCE. THESE EXPENSES SUPPORT THE MUSEUM'S VISION OF INSPIRING AND MOTIVATING CHILDREN TO ACHIEVE THEIR FULL POTENTIAL IN SCIENCE, TECHNOLOGY, AND ENGINEERING BY PROVIDING GUESTS AND TEACHERS WITH INTEGRATED LEARNING EXPERIENCES AND PROGRAMMING THAT IS CENTERED ON EXCITING AND INTERACTIVE EXHIBITS THAT HELP EXPLAIN HOW SCIENCE DIRECTLY IMPACTS OUR DAILY LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Chevy Humphrey President & Ceo/trustee | OfficerTrustee | 35 | $733,915 |
David J Vitale Chairman/trustee | OfficerTrustee | 1 | $0 |
David A Fisher Treasurer/trustee | OfficerTrustee | 1 | $0 |
Michelle L Collins Secretary/trustee | OfficerTrustee | 1 | $0 |
Matthew J Boler Vice Chairman/trustee | OfficerTrustee | 1 | $0 |
Allan E Bulley Jr Vice Chairman/trustee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
41 North Contractors Llc Construction | 12/30/22 | $4,711,252 |
Berglund Construction Company Construction | 12/30/22 | $2,465,046 |
Boelter Kitchen & Food Court Design Services | 12/30/22 | $2,463,277 |
Securitas Security Services Usa Inc Security | 12/30/22 | $1,845,568 |
Midway Building Services Janitorial | 12/30/22 | $1,758,967 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,753,565 |
| Fundraising events | $1,540,364 |
| Related organizations | $0 |
| Government grants | $8,753,454 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,403,872 |
| Noncash contributions included in lines 1a–1f | $207,774 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,451,255 |
| Total Program Service Revenue | $17,111,198 |
| Investment income | $5,572,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $37,591 |
| Net Rental Income | $774,836 |
| Net Gain/Loss on Asset Sales | -$2,359,104 |
| Net Income from Fundraising Events | -$545,410 |
| Net Income from Gaming Activities | -$3,200 |
| Net Income from Sales of Inventory | $704,367 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,412,383 |
| 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. | $2,488,204 |
| Compensation of current officers, directors, key employees. | $761,776 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,489,528 |
| Pension plan accruals and contributions | $464,702 |
| Other employee benefits | $2,712,285 |
| Payroll taxes | $1,225,578 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $102,783 |
| Fees for services: Accounting | $114,691 |
| Fees for services: Lobbying | $100,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $419,727 |
| Fees for services: Other | $6,118,832 |
| Advertising and promotion | $1,746,392 |
| Office expenses | $696,137 |
| Information technology | $1,273,635 |
| Royalties | $0 |
| Occupancy | $1,010,938 |
| Travel | $539,655 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,094,014 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,069,572 |
| Insurance | $598,048 |
| All other expenses | $685,278 |
| Total functional expenses | $52,060,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,971,000 |
| Savings and temporary cash investments | $42,941,684 |
| Pledges and grants receivable | $9,770,558 |
| Accounts receivable, net | $8,982,327 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $71,427 |
| Prepaid expenses and deferred charges | $753,121 |
| Net Land, buildings, and equipment | $137,417,381 |
| Investments—publicly traded securities | $142,473,164 |
| Investments—other securities | $59,203,578 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,018,052 |
| Total assets | $409,602,292 |
| Accounts payable and accrued expenses | $9,658,113 |
| Grants payable | $0 |
| Deferred revenue | $12,572,344 |
| Tax-exempt bond liabilities | $48,978,266 |
| 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 | $925,981 |
| Total liabilities | $72,134,704 |
| Net assets without donor restrictions | $270,137,978 |
| Net assets with donor restrictions | $67,329,610 |
| 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 | $409,602,292 |