Key West Art & Historical Society Inc
- Assets
- $3.8m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 33
- Location
- Key West, FL
- Founding
- 03/1965
- Data as of
- 09/2023
- EIN
- 59-0660461
Organization Overview
Key West Art & Historical Society Inc is located in Key West, FL. The organization was established in 1965. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Key West Art & Historical Society Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Key West Art & Historical Society 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 09/2023, Key West Art & Historical Society Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $2.7m during the year ending 09/2023. While expenses have increased by 7.1% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE KEY WEST ART AND HISTORICAL SOCIETY IS TO PRESERVE THE CULTURE OF THE FLORIDA KEYS THROUGH EXHIBITING AND DISPLAYING REGIONAL ART, ARCHITECTURE, AND HISTORY FOR THE PURPOOSE OF EDUCATING THE COMMUNITY AND VISITING PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KEY WEST ART AND HISTORICAL SOCIETY HOSTED SEVERAL ROTATINGEXHIBITS AT THE KEY WEST MUSEUM OF ART AND HISTORY AT THE CUSTOM HOUSEAND UPDATED DISPLAYS AT ITS THREE OTHER MUSEUMS. THE SOCIETY CONTINUEDITS YOUTH AND ADULT EDUCATION PROGRAMS LIKE ARTCAMP!, HOMESCHOOL ART PROGRAM, HISTORIC HARBOR SAILS, DISTINGUISHED SPEAKER SERIES, HAPPY HOUR WITH THE HISTORIAN, AND MORE. EDUCATION STAFF PERFORMED OUTREACH TOELEMENTARY AND MIDDLE SCHOOLS WITHIN THE MONROE COUNTY SCHOOL DISTRICT.ADDITIONALLY, SIGNATURE SPECIAL EVENTS LIKE THE CUSTOM HOUSE HOLIDAYCONCERT & BAZAAR, ZOMBIE BIKE RIDE, CONCH REVIVAL PICNIC, AND TENNESSEE WILLIAMS KEY WEST FESTIVAL WERE HELD AT THE MUSEUMS. KWAHS ALSO COMPLETED CAPITAL IMPROVEMENTS TO THE CUSTOM HOUSE.
OPERATION OF THE MUSEUM STORES, WHICH PROVIDE MUSEUM GUESTS WITH BOOKS, COLLECTION INSPIRED OBJECTS, AND EDUCATIONAL RESOURCES PROMOTING THE MISSION OF THE ORGANIZATION AND CULTURE OF THE FLORIDA KEYS.
CONDUCT EDUCATIONAL PROGRAMS, ENGAGING CHILDREN AND ADULTS IN LEARNING EXPERIENCES TO PROMOTE THE CULTURAL HERITAGE OF THE FLORIDA KEYS. PROGRAMMING: -ARTCAMP: AN ART AND HISTORY BASED CAMP THAT RUNS THROUGH SUMMER AND SCHOOL BREAKS. SCHOLARSHIPS ARE PROVIDED FOR MANY UNDERSERVED CHILDREN. HOMESCHOOL: AN ART AND HISTORY BASED IMMERSIVE PROGRAM FOR HOMESCHOOL FAMILIES. FAMILY MUSEUM DAY: A FREE ART PROGRAM THAT ROTATES THROUGH MUSEUMS ON THE FIRST SUNDAY OF EVERY MONTH. THE DISTINGUISHED SPEAKER SERIES, WHICH BEGAN IN FY2014 IS A LECTURE SERIES PERTAINING TO FLORIDA KEYS ART AND HISTORY. SPEAKERS INCLUDED. HISTORIC HARBOR SAILS: A LECTURE SERIES ABOARD THE ARGO NAVIS; TOPICS VARY. HAPPY HOUR WITH THE HISTORIAN: A CURATOR LED LECTURE; TOPICS VARY. TOTAL IMPACT: 120,000+ INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Enid Torregrosa President | OfficerTrustee | 1 | $0 |
Jay Hall Treasurer | OfficerTrustee | 1 | $0 |
Michael Shields Director | Trustee | 1 | $0 |
Ben Harrison Director | Trustee | 1 | $0 |
Donna Bosold Director | Trustee | 1 | $0 |
Sharon Wells Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $453,129 |
| All other contributions, gifts, grants, and similar amounts not included above | $225,270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $678,399 |
| Total Program Service Revenue | $1,704,568 |
| Investment income | $17 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,638 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $28,620 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $309,787 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,926,481 |
| 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. | $148,870 |
| Compensation of current officers, directors, key employees. | $49,623 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $849,559 |
| Pension plan accruals and contributions | $22,258 |
| Other employee benefits | $163,670 |
| Payroll taxes | $91,571 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $108,179 |
| Advertising and promotion | $138,019 |
| Office expenses | $246,817 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $191,931 |
| Travel | $20,591 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,246 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,443 |
| Insurance | $80,179 |
| All other expenses | $4,194 |
| Total functional expenses | $2,732,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,589 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $56,634 |
| 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 | $170,225 |
| Prepaid expenses and deferred charges | $22,832 |
| Net Land, buildings, and equipment | $1,427,352 |
| Investments—publicly traded securities | $1,716,263 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $20,016 |
| Other assets | $238,899 |
| Total assets | $3,780,810 |
| Accounts payable and accrued expenses | $87,410 |
| Grants payable | $0 |
| Deferred revenue | $59,823 |
| 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 | $26,190 |
| Total liabilities | $173,423 |
| Net assets without donor restrictions | $3,114,927 |
| Net assets with donor restrictions | $492,460 |
| 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 | $3,780,810 |