Furnace Town Foundation Incorporated
- Assets
- $275.3k
- Revenue
- $254.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Snow Hill, MD
- Founding
- 01/1982
- Data as of
- 12/2022
- 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 12/2022, Furnace Town Foundation Incorporated employed 6 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 12/2022, Furnace Town Foundation Incorporated generated $254.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $209.2k during the year ending 12/2022. While expenses have increased by 7.7% per year over the past 8 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
TO PRESERVE, RESTORE, INTERPRET AND DEVELOP THE 25 ACRES OF FURNACE TOWN LIVING HERITAGE MUSEUM AND THE 19TH CENTURY VILLAGE OF THE NASSAWAGNO IRON FURNACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVED, RESTORED, INTERPRETED THE 25 ACRES OF FURNACE TOWN LIVING HERITAGE MUSEUM AND THE 19TH CENTURY VILLAGE OF NASSAWANGO IRON FURNACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claudia Nagle Executive Di | OfficerTrustee | 40 | $39,792 |
Jeff Bacon Director | Trustee | 3 | $0 |
Russell Blake Director | Trustee | 1 | $0 |
Kassie Blakelock Director | Trustee | $0 | |
Donald Cheeseman Director | Trustee | $0 | |
Alex Clark Vice Preside | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $53,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,837 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,837 |
| Total Program Service Revenue | $23,434 |
| Investment income | -$1,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $84,980 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,211 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $254,184 |
| 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. | $39,792 |
| Compensation of current officers, directors, key employees. | $5,869 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,512 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,235 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,222 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,931 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,204 |
| 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 | $9,462 |
| Insurance | $3,867 |
| All other expenses | $0 |
| Total functional expenses | $209,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,477 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,877 |
| 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 | $3,755 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $91,978 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,167 |
| Total assets | $275,254 |
| Accounts payable and accrued expenses | $2,513 |
| 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 | $4,430 |
| Total liabilities | $6,943 |
| Net assets without donor restrictions | $268,311 |
| 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 | $275,254 |