Kansas Oil Museum Inc
- Assets
- $3.6m
- Revenue
- $242.4k
- Investments
- $1.6m
- Employees
- 0
- Location
- El Dorado, KS
- Founding
- 09/2005
- Data as of
- 12/2023
- EIN
- 48-6120516
Organization Overview
Kansas Oil Museum Inc is located in El Dorado, KS. The organization was established in 2005. According to its NTEE Classification (A51) the organization is classified as: Art 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. Kansas Oil 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 12/2023, Kansas Oil Museum Inc generated $242.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $553.5k during the year ending 12/2023. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF THE KANSAS OIL MUSEUM AND KANSAS OIL HALL OF FAME WHICH IS OPEN TO THE PUBLIC
IMPROVE MAINTAIN AND EXPAND EXHIBITS AND COLLECTIONS AT THE SOCIETYS PRIMARY LOCATION WHICH IS OPEN TO THE PUBLIC
PUBLIC EDUCATION PROGRAMS FOR GRADE SCHOOL AND MIDDLE SCHOOL OUTREACH AS WELL AS GROUP TOURS FOR ADULTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Loren Jack Trustee | 2 | $0 | |
Bayley Allemand Secretary | 2 | $0 | |
Tamara Johnson Trustee | 2 | $0 | |
Jason Artz Vice President | 2 | $0 | |
Julie Clements Treasurer | 2 | $0 | |
Tim Myers President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $29,181 |
| Interest on Savings | $0 |
| Dividends & Interest | $50,882 |
| Net Rental Income | $4,775 |
| Net Gain on Sale of Assets | $102,865 |
| Capital Gain Net Income | $102,865 |
| Net ST Capital Gain | $4,637 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $7,175 |
| Other Income | $47,561 |
| Total Revenue | $242,439 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $62,500 |
| Other employee salaries and wages | $112,207 |
| Pension plans, employee benefits | $0 |
| Interest | $50,097 |
| Taxes | $15,173 |
| Depreciation | $62,628 |
| Occupancy | $93,403 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $157 |
| Other expenses | $150,045 |
| Total operating and administrative expenses | $553,520 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $553,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,710 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | -$1,605 |
| 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 | $16,582 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $1,916,295 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,555,088 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $985,682 |
| Other liabilities | $98 |
| Total liabilities | $985,780 |