Army Quartermaster Foundation Inc
- Assets
- $325.6k
- Revenue
- $89.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Fort Lee, VA
- Founding
- 03/1958
- Data as of
- 12/2021
- EIN
- 54-6053203
Organization Overview
Army Quartermaster Foundation Inc is located in Fort Lee, VA. The organization was established in 1958. 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 12/2021, Army Quartermaster Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Army Quartermaster Foundation 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, Army Quartermaster Foundation Inc generated $89.5k 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 (16.4%) each year. All expenses for the organization totaled $43.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (21.0%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF US ARMY QUARTERMASTER MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDING FOR US QUARTERMASTER MUSEUM
PROVIDE EDUCATIONAL PROGRAMS FOR LOCAL SCHOOL CHILDREN AND TEACHERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colonel R Robert C Barrett President Em | OfficerTrustee | 0.25 | $0 |
Mg R Richard E Beale Jr President | OfficerTrustee | 1 | $0 |
Colonel R Clinton Hodder Vice-Preside | OfficerTrustee | 1 | $0 |
Ltc R David Lee Secretary | OfficerTrustee | 1 | $0 |
Charles Lundy Treasurer | OfficerTrustee | 1 | $0 |
Mg Barry D Bates Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $55,158 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,158 |
| Total Program Service Revenue | $1,790 |
| Investment income | $3,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,778 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,630 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,525 |
| 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 | $15,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,329 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,844 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,030 |
| Information technology | $2,292 |
| Royalties | $0 |
| Occupancy | $178 |
| 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 | $0 |
| Insurance | $266 |
| All other expenses | $650 |
| Total functional expenses | $43,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,385 |
| Savings and temporary cash investments | $0 |
| 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 | $37,199 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $325,584 |
| Accounts payable and accrued expenses | $2,126 |
| 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 | $2,126 |
| Net assets without donor restrictions | $323,458 |
| 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 | $325,584 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Army Quartermaster Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Cameron Foundation Petersburg, VA PURPOSE: EDUCATION:PROGRAM SUPPORT | $5,000 |
Endowment Analysis
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Muhammad Ali Museum And Education Louisville, KY | $31,131,591 | $4,563,188 |
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National Building Museum Washington, DC | $8,920,603 | $4,582,435 |
Museum Of The Cherokee Indian Cherokee, NC | $7,226,404 | $1,829,995 |
International Bluegrass Music Museum Inc Owensboro, KY | $2,977,508 | $2,312,772 |