Virginia Association Of Museums
- Assets
- $247.3k
- Revenue
- $306.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Richmond, VA
- Founding
- 04/1969
- Data as of
- 06/2024
- EIN
- 54-6075555
Organization Overview
Virginia Association Of Museums is located in Richmond, VA. The organization was established in 1969. 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 06/2024, Virginia Association Of Museums employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Association Of Museums 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 06/2024, Virginia Association Of Museums generated $306.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $356.4k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE VIRGINIA ASSOCIATION OF MUSEUMS IS A STATEWIDE NETWORK SERVING THE MUSEUM COMMUNITY. THE ASSOCIATION'S MISSIONS STATEMENT IS "THE VIRGINIA ASSOCIATION OF MUSEUMS HELPS OUR MUSEUM COMMUNITY SUCCEED".
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED AN UNDERSTANDING AND INTEREST IN VIRGINIA'S CULTURAL, HISTORICAL AND SCIENTIFIC HERITAGE. VOLUNTEER SERVICES TO THE ASSOCIATION'S PROGRAMS INCLUDED SPEAKERS, ADMINISTRATIVE AND PROGRAM DESIGN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felicia Abrams Membership E | OfficerTrustee | 1 | $0 |
Jeffrey Allison Ex-Officio | Trustee | 1 | $0 |
Scotty Almany Director | Trustee | 1 | $0 |
Paige Gibbons Backus Vp, Governan | OfficerTrustee | 1 | $0 |
Steven Blashfield Resource Dev | OfficerTrustee | 1 | $0 |
Christonya Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $104,685 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,280 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,965 |
| Total Program Service Revenue | $115,861 |
| Investment income | $3,368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $305,982 |
| 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 | $127,609 |
| Pension plan accruals and contributions | $697 |
| Other employee benefits | $365 |
| Payroll taxes | $9,762 |
| Fees for services: Management | $35,870 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,815 |
| Fees for services: Other | $1,215 |
| Advertising and promotion | $0 |
| Office expenses | $1,142 |
| Information technology | $12,746 |
| Royalties | $0 |
| Occupancy | $600 |
| Travel | $1,072 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,302 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,756 |
| All other expenses | $904 |
| Total functional expenses | $356,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,503 |
| Savings and temporary cash investments | $279 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $232,564 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $247,346 |
| 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 | $241,051 |
| Net assets with donor restrictions | $6,295 |
| 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 | $247,346 |