Discovery Place Inc
- Assets
- $111.2m
- Revenue
- $10.2m
- Investments
- $7.4m
- Employees
- 213
- Location
- Charlotte, NC
- Founding
- 01/1950
- Data as of
- 06/2020
- EIN
- 56-0529944
Organization Overview
Discovery Place Inc is located in Charlotte, NC. The organization was established in 1950. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Discovery Place Inc employed 213 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Discovery Place 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 06/2020, Discovery Place Inc generated $10.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $13.1m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TRANSFORMATIVE SCIENCE, NATURE, AND DESIGN EXPERIENCES PROVIDED FOR OVER 360,000 GUESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMS, EXPERIENCES AND EXHIBITS: DISCOVERY PLACE, INC. OPERATES FOUR MUSEUMS SERVING OVER 360,213 GUESTS ANNUALLY INCLUDING NEARLY 44,607 THROUGH AN ECONOMIC ACCESSIBILITY PROGRAM. SIGNIFICANT PROGRESS WAS MADE ON ONE CAPITAL FACILITIES PROJECT IN FISCAL YEAR 2022: DEVELOPMENT DESIGN WAS COMPLETED AND CONSTRUCTION DOCUMENT PHASE ACHIEVED 50% COMPLETION FOR THE NEW DISCOVERY PLACE NATURE FACILITY SCHEDULED TO OPEN IN LATE 2024/EARLY 2025. DURING FISCAL YEAR 2022, WE RECOGNIZED RESTRICTED CONTRIBUTION REVENUE RELATED TO THE FUTURE CONSTRUCTION OF DISCOVERY PLACE NATURE AND INCURRED INCREMENTAL EXPENSES TO SUPPORT THE DEVELOPMENT EFFORTS OF CAPITAL FACILITIES PROJECTS. ADDITIONALLY, DISCOVERY PLACE INVESTED IN A RENOVATION AND UPGRADE OF OUR IMAX THEATER WHICH WAS COMPLETED IN EARLY 2022. THESE ACTIVITIES ARE REFLECTED IN THE OVERALL REVENUE AND SUPPORT.IN FISCAL 2022, DISCOVERY PLACE OPENED THE NEWLY NAMED AND RENOVATED ACCENTURE IMAX DOME THEATER FEATURING IMAX LASER PROJECTION, A 12-CHANNEL SOUND SYSTEM, AND DIGISTAR 7 PLANETARIUM SOLUTION. SINCE OPENING IN FEBRUARY OF 2022, IT HAS WELCOMED OVER 19,000 VISITORS. THE NEW EQUIPMENT HAS ALLOWED DISCOVERY PLACE TO EXPAND OUR CONTENT OFFERINGS TO HOLLYWOOD, PLANETARIUM, AND ALTERNATIVE CONTENT LIKE CONCERTS AND IMMERSIVE SHOWS. ADDITIONALLY, THIS HAS PROVIDED AN OPPORTUNITY TO ATTRACT ADULT AUDIENCES AND BROADEN OUR REACH TO NEW AUDIENCES.OUTREACH/YOUTH DEVELOPMENT/SUMMER CAMPS/WORKSHOPS: 29,576OUTREACH AND THE DIGITAL STUDIO PROGRAMMING SERVED OVER 27,192 STUDENTS AND IMPLEMENTED 957 PROGRAMS IN FISCAL 2022. BEYOND SCHOOL DAY PROGRAMS, THIS WAS A STRONG YEAR WITH MULTIPLE AFTERSCHOOL CONTRACTS ALLOWING US TO SERVE YOUTH IN OUR COMMUNITY WITH STEM HANDS-ON LEARNING OVER MULTIPLE VISITS, WHICH PROVIDES A DEEPER DIVE FOR STUDENTS. YOUTH DEVELOPMENT PROGRAMMING IN FISCAL 2022 INCLUDED SEVERAL PROGRAMS TARGETING YOUTH IN MIDDLE - HIGH SCHOOL. THE STEM PATHWAY PROGRAM SUCCESSFULLY COMPLETED ONE COHORT OF 14 TEENS IN 14 SESSIONS OF PROFESSIONAL DEVELOPMENT AND WORKPLACE EMPLOYMENT COMPONENT. THE STEM APPRENTICE PROGRAM WAS ABLE TO ONBOARD 106 VOLUNTEERS TO ASSIST WITH CAMP AND MUSEUM PROGRAMMING, INCLUDING TWO MAYORS YOUTH EMPLOYMENT INTERNS. GIRLS IN STEM SUCCESSFULLY SERVED 23 UNIQUE STUDENTS OVER 138 ENGAGEMENTS THROUGH ON-SITE PROGRAMMING. YOUTH DEVELOPMENT SERVED OVER 258 STUDENTS DURING FY22.SUMMER CAMPS SERVED 1,694 CHILDREN ACROSS THREE DISCOVERY PLACE LOCATIONS - SCIENCE, NATURE AND KIDS. IT WAS ANOTHER SUCCESSFUL SEASON OF LEARNING WITH WEEKLY THEMES FOR CHILDREN IN PREK-8TH GRADE. ADDITIONALLY, IN FY22 WE RELAUNCHED OUR IN-PERSON HOMESCHOOL CLASSES FOR STUDENTS IN PREK-8TH GRADE. WE SERVED 432 STUDENTS THROUGH MONTHLY HOMESCHOOL OFFERINGS ALIGNED SCIENCE STANDARDS FOR EACH GRADE BAND. STUDENTS PARTICIPATED IN CLASSES SUCH AS BASICS OF BIOCHEMISTRY TO MOTORS, CIRCUITS, AND ART. EDUCATIONAL MERCHANDISE RELATED TO THE MUSEUM'S EXEMPT PURPOSE IS OFFERED FOR SALE TO MUSEUM VISITORS AS AN EXTENSION OF THE LEARNING EXPERIENCE PROVIDED BY THE MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Wilson Horne President & CEO | Officer | 55 | $410,344 |
Sarah B Lane Chief Advancement Officer | Officer | 55 | $171,524 |
Tifferney White Chief Learning Officer | Officer | 55 | $169,291 |
Anne N Ibekwe Chief Financial Officer | Officer | 55 | $150,672 |
Michael Keating Former Chief Operating Officer | 40 | $138,863 | |
Ervin Gourdine Chief Talent Officer | 55 | $128,471 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capacity Interactive Consulting Llc Digital Marketing | 6/29/22 | $268,300 |
Sparrow Audio Visual Entertainment Cinema Installation | 6/29/22 | $283,450 |
The Budd Group Janitorial | 6/29/22 | $487,606 |
Sherpa Llc Accounting | 6/29/22 | $170,400 |
Quatrefoil Exhibit Design | 6/29/22 | $358,308 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,246,813 |
| Investment income | $1,416 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $95,900 |
| Net Gain/Loss on Asset Sales | $426 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $57,625 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,179,677 |
| Statement of Expenses | |
|---|---|
| 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. | $1,486,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,107,461 |
| Pension plan accruals and contributions | $153,923 |
| Other employee benefits | $460,761 |
| Payroll taxes | $442,485 |
| Fees for services: Management | $17,660 |
| Fees for services: Legal | $60,297 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,404 |
| Fees for services: Other | $928,240 |
| Advertising and promotion | $518,614 |
| Office expenses | $448,668 |
| Information technology | $0 |
| Royalties | $120,693 |
| Occupancy | $550,778 |
| Travel | $71,257 |
| 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 | $1,359,099 |
| Insurance | $132,094 |
| All other expenses | $0 |
| Total functional expenses | $13,084,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $816,247 |
| Savings and temporary cash investments | $697,182 |
| Pledges and grants receivable | $3,105,694 |
| Accounts receivable, net | $195,423 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,128 |
| Prepaid expenses and deferred charges | $615,044 |
| Investments—publicly traded securities | $395,334 |
| Investments—other securities | $7,407,365 |
| Investments—program-related | $300,000 |
| Intangible assets | $0 |
| Other assets | $85,820,032 |
| Total assets | $111,200,822 |
| Accounts payable and accrued expenses | $1,369,694 |
| Grants payable | $0 |
| Deferred revenue | $1,944,679 |
| 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 | $3,314,373 |
| 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 |
| Total liabilities and net assets/fund balances | $107,886,449 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Discovery Place Inc has recieved totaling $2,357,913.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $1,544,755 |
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $200,000 |
Bill And Sharon Allen Familyfoundation Charlotte, NC PURPOSE: HANDS-ON MUSEUM FOR EDUCATIONAL OUTREACH | $150,000 |
Presbyterian Hospital Winston Salem, NC PURPOSE: COMMUNITY OUTREACH | $143,000 |
Richmond Community Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $100,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: CLIMATE RESILIENCY | $100,000 |
Endowment Analysis
| Beg. Balance | $6,457,565 |
| Earnings | -$635,074 |
| Other Expense | $242,761 |
| Ending Balance | $5,579,730 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Discovery Place Inc Charlotte, NC | $111,200,822 | $10,179,677 |
Virginia Aquarium & Marine Science Center Foundation Inc Virginia Beach, VA | $33,681,382 | $4,535,734 |
The Virginia Air And Space Center Hampton, VA | $2,430,723 | $3,284,380 |
Kaleideum Winstonsalem, NC | $17,183,226 | $3,243,264 |
Jason Learning Ashburn, VA | $5,870,552 | $2,710,419 |
Elachee Nature Science Center Gainesville, GA | $3,722,676 | $1,815,302 |
Catawba Science Center Inc Hickory, NC | $7,857,553 | $1,772,591 |
Roper Mountain Science Center Association Greenville, SC | $585,581 | $1,159,716 |
Great Smoky Mountain Heritage Center Inc Townsend, TN | $3,656,397 | $974,256 |
Science Museum Of Western Virginia Roanoke, VA | $461,302 | $956,745 |
Computer Museum Of America Inc Roswell, GA | $321,819 | $737,971 |
Science Museums Of Wilson Inc Wilson, NC | $1,128,753 | $681,064 |