Potosi Foundation Inc
- Assets
- $3.9m
- Revenue
- $368.6k
- Investments
- -$806.5k
- Employees
- 10
- Location
- Potosi, WI
- Founding
- 11/2000
- Data as of
- 12/2022
- EIN
- 39-2000608
Organization Overview
Potosi Foundation Inc is located in Potosi, WI. The organization was established in 2000. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Potosi Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Potosi Foundation Inc 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, Potosi Foundation Inc generated $368.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $465.4k during the year ending 12/2022. While expenses have increased by 4.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RESTORE A HISTORIC LANDMARK AND TO RECONNECT THE COMMUNITY TO PART OF ITS HERITAGE. TO DEVELOP A DESTINATION OF HISTORIC AND EDUCATIONAL INTEREST. TO CHANNEL FUNDS INTO ITS MARKETS SERVED TO SUPPORT HISTORIC AND EDUCATION-BASED INITIATIVES AS WELL AS CHARITABLE CAUSSES, WHICH TRULY MAKE IT A SOCIALLY RESPONSIBLE CORPORATE CITIZEN.
Describe the Organization's Program Activity:
PROMOTE AWARENESS OF HERITAGE OF THE COMMUNITY THROUGH RESTORATION OF A HISTORIC LANDMARK, THE POTOSI BREWERY SITE. THIS SITE INCLUDES A NATIONAL BREWERY MUSEUM AND LIBRARY, POTOSI BREWERY COMPANY TRANSPORTATION MUSEUM, AND INTERPRETIVE CENTER FOR THE GREAT RIVER ROAD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Adamany Director | Trustee | 0.25 | $0 |
Casey Trudgeon Director | Trustee | 0.25 | $0 |
Ron Brey Director | Trustee | 0.25 | $0 |
Larry Kalina Director | Trustee | 0.25 | $0 |
Larry Bowden Director | Trustee | 0.25 | $0 |
Merle Vastine Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $128,757 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $59,660 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $188,417 |
| Total Program Service Revenue | $14,945 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $200 |
| Net Income from Fundraising Events | $81,234 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $83,614 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $368,590 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,595 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,371 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $64 |
| Office expenses | $359 |
| Information technology | $365 |
| Royalties | $0 |
| Occupancy | $79,140 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $89,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $171,810 |
| Insurance | $13,022 |
| All other expenses | $2,276 |
| Total functional expenses | $465,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,688 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,011 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $89,056 |
| Prepaid expenses and deferred charges | $2,144 |
| Net Land, buildings, and equipment | $4,268,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$806,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $84,221 |
| Total assets | $3,887,772 |
| Accounts payable and accrued expenses | $477,323 |
| Grants payable | $0 |
| Deferred revenue | $20,258 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $3,331,224 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,828,805 |
| Net assets without donor restrictions | $58,967 |
| Net assets with donor restrictions | $0 |
| 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 | $3,887,772 |