Underground Museum
- Assets
- $759.4k
- Revenue
- $522.0k
- Investments
- $0.0
- Employees
- 13
- Location
- Los Angeles, CA
- Founding
- 07/2015
- Data as of
- 12/2022
- EIN
- 47-4019904
Organization Overview
Underground Museum is located in Los Angeles, CA. The organization was established in 2015. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Underground Museum employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Underground 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, Underground Museum generated $522.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
TO ENCOURAGE AND DISPLAY ART OF ALL FORMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVES AS A KEY CONDUIT TO DEVELOP COMMUNITY PARTICIPATION THROUGH A BROAD RANGE OF ACTIVITIES UTILIZING BOOKS, EXHIBITIONS OF ARTISTIC WORKS, AND COMMUNITY ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karon Davis President/ceo | OfficerTrustee | 40 | $106,046 |
Cristina Pacheco Secretary/coo (left 03/22) | OfficerTrustee | 40 | $128,461 |
Onye Anyanwu Treasurer | OfficerTrustee | 15 | $0 |
Mark Ankner Board Member | Trustee | 3 | $0 |
Daniel Desure Board Member | Trustee | 3 | $0 |
Aileen Getty Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,720 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $508,391 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $510,111 |
| Total Program Service Revenue | $0 |
| Investment income | $18 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$17,414 |
| 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 | $29,306 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $522,021 |
| 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. | $359,714 |
| Compensation of current officers, directors, key employees. | $84,556 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $187,107 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,943 |
| Payroll taxes | $44,047 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,902 |
| Fees for services: Accounting | $32,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,445 |
| Advertising and promotion | $833 |
| Office expenses | $22,041 |
| Information technology | $699 |
| Royalties | $0 |
| Occupancy | $174,361 |
| Travel | $698 |
| 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 | $11,953 |
| Insurance | $13,871 |
| All other expenses | $0 |
| Total functional expenses | $1,050,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,912 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $255 |
| 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 | $41,580 |
| Net Land, buildings, and equipment | $442,610 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $759,357 |
| Accounts payable and accrued expenses | $3,385 |
| 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 | $5,000 |
| Total liabilities | $8,385 |
| Net assets without donor restrictions | $750,972 |
| 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 | $759,357 |