The Edison Institute Inc
- Assets
- $539.6m
- Revenue
- $81.9m
- Investments
- $188.8m
- Employees
- 1,649
- Location
- Dearborn, MI
- Founding
- 08/1945
- Data as of
- 12/2023
- EIN
- 38-1359513
Organization Overview
The Edison Institute Inc, operating under the name The Henry Ford, is located in Dearborn, MI. The organization was established in 1945. 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 12/2023, Henry Ford employed 1,649 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Henry Ford 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 12/2023, Henry Ford generated $81.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $87.8m during the year ending 12/2023. While expenses have increased by 2.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE EDISON INSTITUTE, KNOWN AS THE HENRY FORD (THF), IS A NATIONAL (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION THROUGH COLLECTION, PRESERVATION AND INTERPRETATION OF AMERICAN HISTORY FOR A BROAD PUBLIC AUDIENCE. OUR COLLECTIONS INCLUDE APPROXIMATELY ONE MILLION THREE-DIMENSIONAL OBJECTS, PLUS AN ARCHIVE AND LIBRARY COLLECTION OF ABOUT TWENTY-FIVE MILLION ITEMS. WE PROVIDE UNIQUE EDUCATIONAL EXPERIENCES TO APPROXIMATELY 1.5 MILLION GUESTS ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia E Mooradian President And Secretary | OfficerTrustee | 40 | $748,523 |
James S Medford Sr VP & Chief Advancement Officer | 40 | $336,557 | |
Brent Ott Chief Operating Officer | Officer | 40 | $323,651 |
Jason M Greuther VP Historical Resources & Chief Curator | 40 | $256,021 | |
John C Neilson VP Venues & Experiences | 40 | $262,601 | |
Bonnie M Lobert VP Talent & Culture/chief Talent Officer | 40 | $228,879 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
O'neal Construction Inc Construction-renovations | 12/30/23 | $7,407,885 |
Hearst Media Production Group Llc Media Production | 12/30/23 | $1,760,760 |
Real Integrated Advertising Services | 12/30/23 | $1,145,106 |
Sutter Road Picture Company Photography Services | 12/30/23 | $913,469 |
People's Transit Ltd Transportation Services | 12/30/23 | $1,557,537 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,020,997 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,792,642 |
| Noncash contributions included in lines 1a–1f | $1,398,569 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,813,639 |
| Total Program Service Revenue | $34,208,286 |
| Investment income | $1,167,255 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $29,964 |
| Net Rental Income | $2,730,658 |
| Net Gain/Loss on Asset Sales | $16,582,177 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,632,554 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,867,725 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $163,630 |
| 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. | $1,382,234 |
| Compensation of current officers, directors, key employees. | $823,554 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,281,822 |
| Pension plan accruals and contributions | $1,347,032 |
| Other employee benefits | $1,499,604 |
| Payroll taxes | $2,775,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $740,249 |
| Fees for services: Accounting | $155,570 |
| Fees for services: Lobbying | $86,500 |
| Fees for services: Fundraising | $80,419 |
| Fees for services: Investment Management | $852,021 |
| Fees for services: Other | $17,676,907 |
| Advertising and promotion | $2,821,733 |
| Office expenses | $8,276,333 |
| Information technology | $0 |
| Royalties | $428,169 |
| Occupancy | $4,266,635 |
| Travel | $1,024,858 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,484,836 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,878,211 |
| Insurance | $838,559 |
| All other expenses | $36,996 |
| Total functional expenses | $87,786,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,832 |
| Savings and temporary cash investments | $23,996,868 |
| Pledges and grants receivable | $4,263,272 |
| Accounts receivable, net | $2,826,325 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $482,339 |
| Prepaid expenses and deferred charges | $1,810,173 |
| Net Land, buildings, and equipment | $65,946,210 |
| Investments—publicly traded securities | $251,162,291 |
| Investments—other securities | $188,835,800 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $539,586,110 |
| Accounts payable and accrued expenses | $8,538,966 |
| Grants payable | $0 |
| Deferred revenue | $84,292 |
| Tax-exempt bond liabilities | $29,400,000 |
| 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 | $10,000,000 |
| Other liabilities | $5,179,788 |
| Total liabilities | $53,203,046 |
| Net assets without donor restrictions | $75,237,064 |
| Net assets with donor restrictions | $411,146,000 |
| 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 | $539,586,110 |
Grants Awarded
Over the last fiscal year, The Edison Institute Inc has awarded $321,938 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HENRY FORD ACADEMY PURPOSE: CHARTER SCHOOL COSTS | $286,938 |
PENNSYLVANIA INVENTION CONVENTION PURPOSE: PENNSYLVANIA INVENTION CONVENTION GROWTH | $25,000 |
NATIONAL HISTORY ACADEMY PURPOSE: PARTIAL SCHOLARSHIP FOR STUDENT SESSIONS | $10,000 |