Hickory Museum Of Art Inc
- Assets
- $5.4m
- Revenue
- $813.6k
- Investments
- $0.0
- Employees
- 16
- Location
- Hickory, NC
- Founding
- 10/1949
- Data as of
- 06/2024
- EIN
- 56-1144769
Organization Overview
Hickory Museum Of Art Inc is located in Hickory, NC. The organization was established in 1949. 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 06/2024, Hickory Museum Of Art Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hickory Museum Of Art 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 06/2024, Hickory Museum Of Art Inc generated $813.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $832.1k during the year ending 06/2024. While expenses have increased by 4.8% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL: TO INCREASE THE PUBLIC'S POPULAR APPRECIATION OF ALL FORMS OF THE VISUAL ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF ART EXHIBITS, EDUCATION AND PROGRAMSDONATIONS OF FACILITIES (RENT & UTILITIES) FROM SALT BLOCK FOUNDATION (BUILDING MANAGERS) VALUED AT $274,787
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Maxwell Treasurer | OfficerTrustee | 9 | $0 |
Christy Almond Trustee | Trustee | 5 | $0 |
Kit Cannon Trustee | Trustee | 5 | $0 |
Cameron Mauney Trustee | Trustee | 5 | $0 |
Eleanor Herbert Trustee | Trustee | 5 | $0 |
Raisa Boben Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $26,204 |
| Membership dues | $92,167 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $36,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $391,183 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $546,404 |
| Total Program Service Revenue | $56,621 |
| Investment income | $127,437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,494 |
| Net Income from Fundraising Events | $74,841 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,457 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $813,552 |
| 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 | $457,956 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,146 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $114,378 |
| Advertising and promotion | $18,601 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,973 |
| Travel | $20,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,876 |
| Insurance | $12,522 |
| All other expenses | $45,992 |
| Total functional expenses | $832,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $46,126 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $605 |
| Prepaid expenses and deferred charges | $7,575 |
| Net Land, buildings, and equipment | $206,179 |
| Investments—publicly traded securities | $5,157,386 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,420,224 |
| Accounts payable and accrued expenses | $38,988 |
| Grants payable | $0 |
| Deferred revenue | $150,790 |
| 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 | $189,778 |
| Net assets without donor restrictions | $3,499,550 |
| Net assets with donor restrictions | $1,730,896 |
| 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 | $5,420,224 |