Virginia Quilt Museum Inc
- Assets
- $673.9k
- Revenue
- $200.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Harrisonburg, VA
- Founding
- 12/1993
- Data as of
- 12/2021
- EIN
- 54-1637667
Organization Overview
Virginia Quilt Museum Inc is located in Harrisonburg, VA. The organization was established in 1993. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Virginia Quilt Museum Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Quilt 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 12/2021, Virginia Quilt Museum Inc generated $200.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $171.3k during the year ending 12/2021. While expenses have increased by 3.9% 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
THE MUSEUM EXISTS TO PRESENT, PRESERVE, & INTERPRET WORKS OF ART FOR THE WELL BEING OF THE PUBLIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VIRGINIA QUILT MUSEUM EXISTS TO CELEBRATE AND NURTURE VIRGINIA'S QUILTING HERITAGE FOR THE BENEFIT AND EDUCATION OF THE PUBLIC BY COLLECTING, PRESERVING AND EXHIBITING QUILTS FROM VIRGINIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Chavez President & CEO | Trustee | 10 | $0 |
Eileen Doughty Secretary | Trustee | 5 | $0 |
Sarah Entsminger Director | Trustee | 1 | $0 |
Beverley Evans Director | Trustee | 1 | $0 |
Barb Garret Director | Trustee | 1 | $0 |
Heidi Haynes Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,945 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $83,191 |
| Noncash contributions included in lines 1a–1f | $12,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $122,471 |
| Total Program Service Revenue | $61,592 |
| Investment income | $8,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,148 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,053 |
| 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 | $84,952 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,371 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,987 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,784 |
| Office expenses | $5,695 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,108 |
| Travel | $79 |
| 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 | $6,609 |
| Insurance | $6,628 |
| All other expenses | $7,018 |
| Total functional expenses | $171,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,293 |
| Savings and temporary cash investments | $11,781 |
| 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 | $5,169 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $136,308 |
| Investments—publicly traded securities | $60,384 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $388,000 |
| Total assets | $673,935 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $673,935 |
| Total liabilities and net assets/fund balances | $673,935 |