Grout Museum Inc
- Assets
- $872.2k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Waterloo, IA
- Founding
- 11/1993
- Data as of
- 06/2022
- EIN
- 42-1333059
Organization Overview
Grout Museum Inc is located in Waterloo, IA. The organization was established in 1993. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grout Museum 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 06/2022, Grout Museum Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.7% each year . All expenses for the organization totaled $810.0k during the year ending 06/2022. While expenses have increased by 4.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FUNDS TO THE H.W. GROUT TRUST FOR OPERATION OF ITS MUSEUMS IN WATERLOO, IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROUT MUSEUM, INC. PROVIDED FUNDING TO THE H.W. GROUT TRUST FOR OPERATIONS OF ITS MUSEUMS IN WATERLOO, IOWA. THE MUSEUMS SERVED APPROXIMATELY 38,000 PEOPLE DURING THE YEAR ENDED JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward J Gallagher III President | OfficerTrustee | 2 | $0 |
Tammy Fleming Vice-President | OfficerTrustee | 2 | $0 |
Steve Schmitt Treasurer | OfficerTrustee | 2 | $0 |
Diane Poelka Director Of Finance And Hr | Officer | 5 | $0 |
Billie Bailey Executive Director | Officer | 5 | $0 |
John J Burns Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $657,624 |
| All other contributions, gifts, grants, and similar amounts not included above | $865,665 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,523,289 |
| Total Program Service Revenue | $0 |
| Investment income | $387 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,523,676 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $810,023 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $810,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,297 |
| Savings and temporary cash investments | $745,928 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $872,225 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $831,583 |
| Net assets with donor restrictions | $40,642 |
| 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 | $872,225 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Grout Museum Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Boazs Harvest-Zachary Foundatoin Waterloo, IA PURPOSE: GENERAL OPERATING BUDGET | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
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 |
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 |
Unlimited Opportunities Inc Boonville, MO | $6,714,259 | $4,941,880 |
Dusable Museum Of African American History Inc Chicago, IL | $17,602,670 | $3,496,098 |
The Richard H Driehaus Museum Chicago, IL | $116,468,245 | $74,810,944 |
National Czech & Slovak Museum & Library Cedar Rapids, IA | $33,480,949 | $3,909,322 |
Vesterheim Norwegian American Museum Decorah, IA | $24,953,272 | $7,187,886 |
Leigh Yawkey Woodson Art Museum Inc Wausau, WI | $54,767,608 | $3,707,378 |