Potosi Foundation Inc
- Assets
- $2.1m
- Revenue
- $67.0k
- Investments
- -$2.6m
- Employees
- 8
- Location
- Potosi, WI
- Founding
- 11/2000
- Data as of
- 12/2020
- 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 12/2021, Potosi Foundation Inc employed 8 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 12/2020, Potosi Foundation Inc generated $67.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.0%) each year. All expenses for the organization totaled $313.5k during the year ending 12/2020. 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
2020
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 CAUSES, WHICH TRULY MAKE IT A SOCIALLY RESPONSIBLE CORPORATE CITIZEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 BREWING COMPANY TRANSPORTATION MUSEUM, AND INTERPRETIVE CENTER FOR THE GREAT RIVER ROAD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Brey Treasurer | OfficerTrustee | 0.19 | $0 |
Gary David Vice Preside | OfficerTrustee | 1.15 | $0 |
Dave Fritz President | OfficerTrustee | 3.85 | $0 |
Mary Alice Schmitz Secretary | OfficerTrustee | 0.19 | $0 |
Casey Trudgeon Director | Trustee | 0.12 | $0 |
Merle Vastine Director | Trustee | 0.19 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,190 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$192,484 |
| Net Gain/Loss on Asset Sales | $4,800 |
| Net Income from Fundraising Events | $32,873 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $59,822 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,973 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,690 |
| Pension plan accruals and contributions | $519 |
| Other employee benefits | $0 |
| Payroll taxes | $3,182 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,173 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,156 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,495 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,956 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,931 |
| Insurance | $12,097 |
| All other expenses | $0 |
| Total functional expenses | $313,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,935 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $60,724 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$2,648,680 |
| Investments—program-related | $0 |
| Intangible assets | $31,090 |
| Other assets | $84,221 |
| Total assets | $2,084,542 |
| Accounts payable and accrued expenses | $452,510 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $678,083 |
| Secured mortgages and notes payable | $2,570,752 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,701,345 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$1,616,803 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Potosi Foundation Inc has recieved totaling $15,055.
| Awarding Organization | Amount |
|---|---|
United Way Of Dane County Inc Madison, WI PURPOSE: Donor Designation for General Support | $15,050 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
Historic Arnolds Park Inc Arnolds Park, IA | $45,905,371 | $12,228,274 |
Grand Rapids Public Museum Grand Rapids, MI | $9,797,722 | $8,206,945 |
Kalamazoo Aviation History Museum Portage, MI | $17,581,493 | $5,451,685 |
Museum Of African American History Detroit, MI | $6,150,822 | $7,565,645 |
Margaret Woodbury Strong Museum Charitable Trust Chicago, IL | $73,980,694 | $7,829,381 |
Peoria Riverfront Museum Peoria, IL | $12,190,456 | $4,223,811 |
Dusable Museum Of African American History Inc Chicago, IL | $17,602,670 | $3,496,098 |
Yankee Air Force Incorporated Belleville, MI | $14,568,941 | -$1,519,297 |
The Richard H Driehaus Museum Chicago, IL | $116,468,245 | $74,810,944 |
Genevieve And Donald S Gilmore Foundation Hickory Corners, MI | $0 | $3,411,516 |