Minnesota Fishing Museum
- Assets
- $819.5k
- Revenue
- $138.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Little Falls, MN
- Founding
- 06/1993
- Data as of
- 12/2021
- EIN
- 41-1739244
Organization Overview
Minnesota Fishing Museum is located in Little Falls, MN. The organization was established in 1993. 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 12/2021, Minnesota Fishing Museum employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Fishing 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 12/2021, Minnesota Fishing Museum generated $138.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $125.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS CREATED FOR THE PURPOSE OF DEVELOPING AN ATTRACTION AND A MUSEUM TO COLLECT, PRESERVE, AND DISPLAY THE ARTIFACTS OF THE SPORT OF FRESH WATER ANGLING; AND TO PERFORM A PROGRAM OF RECOGNITION OF PERSONS AND ORGANIZATIONS FOR OUTSTANDING ACHIEVEMENTS AND ACCOMPLISHMENTS IN THE REALM OF FRESH WATER FISHING.
Describe the Organization's Program Activity:
THE ORGANIZATION WAS CREATED FOR THE PURPOSE OF DEVELOPING AN ATTRACTION AND A MUSEUM TO COLLECT, PRESERVE, AND DISPLAY THE ARTIFACTS OF THE SPORT OF FRESH WATER ANGLING; AND TO PERFORM A PROGRAM OF RECOGNITION OF PERSONS AND ORGANIZATIONS FOR OUTSTANDING ACHIEVEMENTS AND ACCOMPLISHMENTS IN THE REALM OF FRESH WATER FISHING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Perlowski Executive Di | Officer | 40 | $62,651 |
Mary Branscher Secretary | OfficerTrustee | 2 | $0 |
Robert Derosier President | OfficerTrustee | 2 | $0 |
Ray Manlick Vice Preside | OfficerTrustee | 2 | $0 |
Tim Swanson Treasurer | OfficerTrustee | 2 | $0 |
Mark Larson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,095 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,442 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,537 |
| Total Program Service Revenue | $25,571 |
| Investment income | $33 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,298 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $57,578 |
| Net Income from Sales of Inventory | $5,162 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $138,179 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,800 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,223 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $130 |
| Advertising and promotion | $700 |
| Office expenses | $5,203 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,068 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,562 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,336 |
| Insurance | $3,698 |
| All other expenses | -$35 |
| Total functional expenses | $125,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,379 |
| Savings and temporary cash investments | $35,972 |
| 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 | $9,448 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $700,670 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $819,469 |
| Accounts payable and accrued expenses | $7,040 |
| Grants payable | $0 |
| Deferred revenue | $7,091 |
| 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 | $123,906 |
| Other liabilities | $0 |
| Total liabilities | $138,037 |
| Net assets without donor restrictions | $681,432 |
| 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 | $819,469 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Minnesota Fishing Museum has recieved totaling $15.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $15 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eaa Aviation Foundation Inc Oshkosh, WI | $62,820,883 | $14,243,844 |
Putnam Museum And Science Center Davenport, IA | $12,236,666 | $5,417,637 |
Museum Of Wisconsin Art Inc West Bend, WI | $10,712,368 | $3,038,325 |
Living History Farms Foundation Des Moines, IA | $16,358,279 | $3,488,331 |
National Music Museum Vermillion, SD | $15,649,509 | $3,706,421 |
Minnesota Masonic Historical Society And Museum Bloomington, MN | $21,958,017 | $92,192 |
Minnesota Marine Art Museum Winona, MN | $26,828,253 | $837,188 |
Deadwood History Inc Deadwood, SD | $2,336,299 | $1,550,471 |
Packers Heritage Inc Green Bay, WI | $657,435 | $1,483,448 |
Salisbury House Foundation Des Moines, IA | $11,060,982 | $836,584 |
Pabst Mansion Inc Milwaukee, WI | $6,070,527 | $1,044,515 |
Luxembourg American Cultural Society Inc Belgium, WI | $2,306,360 | $776,687 |