Furnace Town Foundation Incorporated
- Assets
- $598.8k
- Revenue
- $276.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Snow Hill, MD
- Founding
- 01/1982
- Data as of
- 12/2021
- EIN
- 52-1223314
Organization Overview
Furnace Town Foundation Incorporated is located in Snow Hill, MD. The organization was established in 1982. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Furnace Town Foundation Incorporated employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Furnace Town Foundation Incorporated 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 12/2021, Furnace Town Foundation Incorporated generated $276.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $142.7k during the year ending 12/2021. While expenses have increased by 3.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE, RESTORE, INTERPRET AND DEVELOP THE 25 ACRES OF FURNACE TOWN LIVING HERITAGE MUSEUM AND THE 19TH CENTURY VILLAGE OF THE NASSAWANGO IRON FURNACE
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, FURNACE TOWN FOCUSED ON OUTDOOR EDUCATION ACTIVITIES AND MANAGING THE FINANCIAL CHALLENGES OF THE PANDEMIC. OUR OUTDOOR VENUE ALLOWED UPS TO INTERPRET OUR EXHIBITS CREATIVELY AND OPENED NEW AVENUES LIKE HOMESCHOOL GROUP TOURS. NEW GROUPS WERE ABLE TO LEARN ABOUT FURNACE TOWN, THE NASSAWANGO IRON FURNACE AND THE HISTORY AND CULTURE OF MARYLAND'S LOWER EASTERN SHORE. THE BUILDINGS AND ARTIFACTS ON DISPLAY WERE PRESERVED AND ENHANCED DURING THE YEAR. FURNACE TOWN HOSTED APPROXIMATELY 4,000 ADULTS AND CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claudia Nagle Executive Director | 40 | $34,688 | |
Jefferson Moak President | Officer | 10 | $0 |
William Ferguson Treasurer | Officer | 4 | $0 |
Betsy Gravenor-Stacey Secretary | Officer | 2 | $0 |
Alex Clark Vice-President | Officer | 2 | $0 |
Russell Blake Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,390 |
| Fundraising events | $28,586 |
| Related organizations | $0 |
| Government grants | $56,642 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,968 |
| Total Program Service Revenue | $23,215 |
| Investment income | $58,165 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,790 |
| Net Income from Fundraising Events | $28,586 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $276,128 |
| 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. | $34,689 |
| Compensation of current officers, directors, key employees. | $22,282 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,942 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,873 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,958 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,131 |
| Fees for services: Other | $1,935 |
| Advertising and promotion | $1,844 |
| Office expenses | $7,632 |
| Information technology | $3,652 |
| Royalties | $0 |
| Occupancy | $19,288 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $116 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,110 |
| Insurance | $13,091 |
| All other expenses | $0 |
| Total functional expenses | $142,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,246 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,791 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $121,394 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $333,359 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $598,790 |
| Accounts payable and accrued expenses | $6,331 |
| 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 | $6,331 |
| Net assets without donor restrictions | $592,459 |
| 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 | $598,790 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Furnace Town Foundation Incorporated has recieved totaling $18,458.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of The Eastern Shore Inc Salisbury, MD PURPOSE: CONSERVATION & HISTORIC PRESERVATION | $18,446 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
White House Historical Association Washington, DC | $70,614,346 | $21,703,882 |
National Links Trust Washington, DC | $8,914,003 | $10,793,468 |
Maymont Foundation Richmond, VA | $38,971,207 | $5,423,725 |
National Archives Foundation Washington, DC | $14,544,421 | $8,935,036 |
Historical Society Of Pennsylvania Philadelphia, PA | $29,519,223 | $5,864,620 |
Bucks County Historical Society Mercer Museum Doylestown, PA | $25,757,784 | $3,151,386 |
House Of The Temple Historic Preservation Foundation Inc Washington, DC | $31,687,828 | $5,822,669 |
Historic Annapolis Inc Annapolis, MD | $11,216,187 | $4,170,932 |
The George Washington Foundation Fredericksburg, VA | $39,220,156 | $2,847,343 |
Supreme Court Historical Society The Society Washington, DC | $17,156,338 | $2,945,998 |
Lancasterhistory Org Lancaster, PA | $21,295,803 | $1,939,476 |
Partners For Sacred Places Inc Philadelphia, PA | $5,285,974 | $2,628,300 |