Virginia Museum Of Transportation Inc
- Assets
- $7.2m
- Revenue
- $784.5k
- Investments
- $0.0
- Employees
- 20
- Location
- Roanoke, VA
- Founding
- 08/1977
- Data as of
- 06/2022
- EIN
- 54-1027436
Organization Overview
Virginia Museum Of Transportation Inc is located in Roanoke, VA. The organization was established in 1977. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Virginia Museum Of Transportation Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Museum Of Transportation 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 06/2022, Virginia Museum Of Transportation Inc generated $784.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.5%) per year over the past 7 years. 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
PRESERVATION OF TRANSPORTATION HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM IS AN EDUCATIONAL INSTITUTION THAT COLLECTS AND PRESERVES EXHIBITS RELATED TO THE HISTORY AND TECHNOLOGY OF ALL FORMS OF TRANSPORTATION WITH EMPHASIS ON VIRGINIA'S TRANSPORTATION HISTORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Ardis Director | Trustee | 2 | $0 |
Chris Banta Treasurer | OfficerTrustee | 2 | $0 |
Brian P Barton Director | Trustee | 2 | $0 |
Stephen D Beck Director | Trustee | 2 | $0 |
Robert G Bennett VP Auto Gall | OfficerTrustee | 2 | $0 |
Tom Cox Exec Vice Pr | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $269,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,716 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $359,904 |
| Total Program Service Revenue | $369,451 |
| Investment income | $548 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $54,564 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $784,467 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $323,328 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,639 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,926 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $45,902 |
| Office expenses | $102,644 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $127,597 |
| Travel | $26,004 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,564 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $351,306 |
| Insurance | $49,581 |
| All other expenses | $0 |
| Total functional expenses | $1,135,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $517,225 |
| Savings and temporary cash investments | $513,110 |
| Pledges and grants receivable | $0 |
| 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 | $55,305 |
| Prepaid expenses and deferred charges | $1,003 |
| Net Land, buildings, and equipment | $5,998,658 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $123,488 |
| Other assets | $0 |
| Total assets | $7,208,789 |
| Accounts payable and accrued expenses | $34,176 |
| 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 | $22,016 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $56,192 |
| Net assets without donor restrictions | $6,525,115 |
| Net assets with donor restrictions | $627,482 |
| 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 | $7,208,789 |
Grants Awarded
Over the last fiscal year, Virginia Museum Of Transportation Inc has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NORFOLK AND WESTERN HISTORICAL SOCIETY PURPOSE: TO PROVIDE ASSISTANCE TO ORGANIZATION | $5,000 |
NATIONAL RAILWAY HISTORICAL SOCIETY-ROANOKE CHAPTER PURPOSE: TO PROVIDE ASSISTANCE TO ORGANIZATION | $25,000 |