Museum Of American Speed
- Assets
- $46.0m
- Revenue
- $5.2m
- Investments
- $1.8m
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 01/1994
- Data as of
- 12/2022
- EIN
- 47-0761420
Organization Overview
Museum Of American Speed is located in Lincoln, NE. The organization was established in 1994. 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. Museum Of American Speed 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, Museum Of American Speed generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.3% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 7.9% per year over the past 6 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED MUSEUM EXHIBITS ON RACE CAR ENGINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carson W Smith Vice President | 0 | $0 | |
Craig A Smith Vice President | 0 | $0 | |
Clay F Smith President / Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,461,407 |
| Interest on Savings | $0 |
| Dividends & Interest | $16,906 |
| Net Rental Income | $121,885 |
| Net Gain on Sale of Assets | $540,791 |
| Capital Gain Net Income | $540,792 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $12,893 |
| Other Income | $34 |
| Total Revenue | $5,153,916 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $706,522 |
| Pension plans, employee benefits | $0 |
| Interest | $96,226 |
| Taxes | $104,908 |
| Depreciation | $203,855 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $42,992 |
| Printing and publications | $0 |
| Other expenses | $626,931 |
| Total operating and administrative expenses | $1,804,486 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,804,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $878,820 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $7,926 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $21,289 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $10,371,673 |
| Other assets | $32,894,095 |
| Total assets | $45,989,942 |
| Accounts payable and accrued expenses | $130,406 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $5,221,773 |
| Other liabilities | $0 |
| Total liabilities | $5,352,179 |