Minnesota Fishing Museum
- Assets
- $761.8k
- Revenue
- $129.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Little Falls, MN
- Founding
- 06/1993
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Minnesota Fishing Museum generated $129.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $162.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 8 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
2022
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 | $63,449 |
Mary Bramscher Secretary | OfficerTrustee | 2 | $0 |
Robert Derosier President | OfficerTrustee | 2 | $0 |
Jeff Doty Director | Trustee | 2 | $0 |
Kevin Kerkvliet Director | Trustee | 2 | $0 |
Mark Larson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,972 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,344 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,316 |
| Total Program Service Revenue | $59,225 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,900 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $51,699 |
| Net Income from Sales of Inventory | $140 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $129,307 |
| 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. | $44,914 |
| Compensation of current officers, directors, key employees. | $8,983 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,283 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,412 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $827 |
| Advertising and promotion | $2,889 |
| Office expenses | $6,095 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,559 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,150 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,639 |
| Insurance | $7,423 |
| All other expenses | -$166 |
| Total functional expenses | $162,489 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,388 |
| Savings and temporary cash investments | $28,999 |
| 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 | $11,959 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $692,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,392 |
| Total assets | $761,769 |
| Accounts payable and accrued expenses | $7,834 |
| Grants payable | $0 |
| Deferred revenue | $9,970 |
| 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 | $95,715 |
| Other liabilities | $0 |
| Total liabilities | $113,519 |
| Net assets without donor restrictions | $648,250 |
| 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 | $761,769 |