Joliet Area Historical Museum
- Assets
- $1.5m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 75
- Location
- Joliet, IL
- Founding
- 03/2000
- Data as of
- 06/2023
- EIN
- 36-4334686
Organization Overview
Joliet Area Historical Museum is located in Joliet, IL. The organization was established in 2000. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Joliet Area Historical Museum employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joliet Area Historical 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 06/2023, Joliet Area Historical Museum generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 11.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AWARENESS OF AND APPRECIATION FOR THE JOLIET AREA'S HISTORY AND DIVERSE CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM CONTINUES TO ACHIEVE AND GROW IN LOCAL AND INTERNATIONAL AWARENESS. THE MUSEUM CONTINUES TO ENCOURAGE PEOPLE OF ALL AGES TO DISCOVER, UNDERSTAND AND CELEBRATE THE AREA'S HERITAGE AND BOUNDLESS FUTURE.
THE OLD JOLIET PRISON PROJECT INVOLVED THE MUSEUM TAKING DAY-TO-DAY RESPONSIBILITY FOR TOURS AT THE FORMER ILLINOIS STATE PENITENTIARY SITE AFTER YEARS OF ASSESSING FEASIBILITY AND DETERMINING GREAT PUBLIC INTEREST IN THE HISTORIC SITE. THESE TOURS HAVE OFFERED A NEW AND VIBRANT REVENUE STREAM TO UNDERWRITE ORGANIZATIONAL OPERATIONS. THE MUSEUM HAS ALSO COMMITTED TO HOLDING OCCASSIONAL SPECIAL EVENTS TO RAISE FUNDS SPECIFICALLY TO BE USED TO SECURE AND STABILIZE THE PROPERTY AS TO FURTHER MONETIZE IT. THE MUSEUM EXECUTED A MEMORANDUM OF UNDERSTANDING WITH THE CITY OF JOLIET, WHO ACTS AS AN UNENCUMBERED LESSEE AT THE SITE, OWNED BY THE STATE OF ILLINOIS, WHICH OUTLINES SPECIFIC ROLES AND RESPONSIBILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Govani Vice President | OfficerTrustee | 2 | $0 |
Quinn Adamowski President | OfficerTrustee | 2 | $0 |
Dale Evans Treasurer | OfficerTrustee | 2 | $0 |
Hudson Hollister Secretary | OfficerTrustee | 2 | $0 |
David Gomez Board Member | Trustee | 1 | $0 |
Kevin Hegarty Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,196,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $178,609 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,375,109 |
| Total Program Service Revenue | $59,570 |
| Investment income | $6,002 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $150,175 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $404,508 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $47,948 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,043,312 |
| 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. | $95,000 |
| Compensation of current officers, directors, key employees. | $14,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $790,916 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,560 |
| Payroll taxes | $85,723 |
| Fees for services: Management | $15,438 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,000 |
| Fees for services: Other | $29,566 |
| Advertising and promotion | $11,153 |
| Office expenses | $69,613 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,122 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,356 |
| Interest | $1,135 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,320 |
| Insurance | $28,574 |
| All other expenses | $13,848 |
| Total functional expenses | $1,446,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,433 |
| Savings and temporary cash investments | $0 |
| 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 | $74,772 |
| Prepaid expenses and deferred charges | $1,150 |
| Net Land, buildings, and equipment | $535,484 |
| Investments—publicly traded securities | $320,304 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $496,186 |
| Total assets | $1,516,329 |
| Accounts payable and accrued expenses | $85,884 |
| Grants payable | $0 |
| Deferred revenue | $16,740 |
| 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 | $43,245 |
| Other liabilities | $0 |
| Total liabilities | $145,869 |
| Net assets without donor restrictions | $852,711 |
| Net assets with donor restrictions | $517,749 |
| 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 | $1,516,329 |