Museum Of Arts & Sciences
- Assets
- $79.4m
- Revenue
- $5.8m
- Investments
- $47.1m
- Employees
- 57
- Location
- Daytona Beach, FL
- Founding
- 02/1965
- Data as of
- 12/2023
- EIN
- 59-1022050
Organization Overview
Museum Of Arts & Sciences is located in Daytona Beach, FL. The organization was established in 1965. 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 12/2023, Museum Of Arts & Sciences employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Arts & Sciences 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 12/2023, Museum Of Arts & Sciences generated $5.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $4.9m during the year ending 12/2023. While expenses have increased by 3.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM OF ARTS AND SCIENCES, INC. PURPOSE IS TO RENDER EDUCATIONAL AND CULTURAL SERVICES TO THE COMMUNITY THROUGH THE COLLECTION, PRESERVATION, CONSERVATION AND INTERPRETATION OF ORIGINAL AND SIGNIFICANT OBJECTS THAT ARE THE CULTURAL HERITAGE OF THIS COMMUNITY. PARTICULAR EMPHASIS IS DIRECTED TO PROGRAMS FOR BRINGING ABOUT A BETTER UNDERSTANDING AND APPRECIATION OF ART, THE WORLD IN WHICH WE LIVE, AND THE NATURAL AND SOCIAL SCIENCES EMBODIED IN THE HISTORY OF MANKIND.
Describe the Organization's Program Activity:
THE MUSEUM OF ARTS AND SCIENCES, INC. MAINTAINS AND OPERATES A FACILITY IN DAYTONA BEACH, FL. THE MUSEUM COLLECTIONS AND RESEARCH INCLUDE CUBAN AND FLORIDA ART, AMERICAN FINE AND DECORATIVE ARTS, EUROPEAN PAINTINGS, PRE- COLUMBIAN AND AFRICAN ARTIFACTS, PLEISTOCENE FOSSILS AND REGIONAL NATURAL HISTORY. PERMANENT AND CHANGING EXHIBITS, LECTURES AND CLASSES HIGHLIGHT EDUCATIONAL PROGRAMS. ONE OF THOSE EDUCATIONAL PROGRAMS IS THE SUMMER LEARNING INSTITUTE. THE SUMMER LEARNING INSTITUTE IS A PROGRAM THAT FOCUSES ON ART, SCIENCE AND HISTORY, WITH MANY INTEGRATED LEARNING EXPERIENCES FOR OUR STUDENTS. ALL CLASSES ARE TAUGHT BY DEGREED PROFESSIONALS WITH MANY YEARS OF TEACHING EXPERIENCE. IT PROVIDES INTERACTIVE AND ENGAGING EXPERIENCES FOR EACH OF ITS STUDENTS. THE MUSEUM HOUSES CHANGING ART AND SCIENCE EXHIBITION GALLERIES, PERMANENT COLLECTION GALLERIES, A GALLERY OF AFRICAN ART, PAINTINGS, DECORATIVE ARTS AND FURNITURE, A HISTORY OF FLORIDA WING, A CUBAN FINE AND FOLK ARTS MUSEUM, A PLANETARIUM, LIBRARY, THE FRISCHER SCULPTURE GARDEN, THE ROOT WING, MAINTAINS NATURE TRAILS IN A 60 ACRE RESERVE IN ADJACENT TUSCAWILLA PARK AND MAINTAINS HISTORIC PROPERTY CALLED "GAMBLE PLACE." THE MUSEUM MAINTAINS AND OPERATES A FACILITY OF HISTORIC BUILDINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tabitha Schmidt Executive Di | Trustee | 40 | $199,324 |
Cici Brown Trustee Liai | OfficerTrustee | 10 | $0 |
Bill Chapin Vice Preside | OfficerTrustee | 10 | $0 |
Melinda Dawson Trustee | Trustee | 5 | $0 |
Jeri Delgado Trustee | Trustee | 5 | $0 |
Randy Dye Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hall Construction Company Inc Construction | 9/29/15 | $1,845,194 |
Bomar Construction Inc Construction | 9/29/15 | $1,327,410 |
Trane Us Inc | 9/29/15 | $202,978 |
Consolidated Electrical Distributors Electrical Cons | 9/29/15 | $170,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $251,071 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,833,274 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,084,345 |
| Total Program Service Revenue | $848,004 |
| Investment income | $1,423,255 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $977,461 |
| Net Income from Fundraising Events | $247,641 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $95,232 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,787,821 |
| 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. | $199,324 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,537,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $122,038 |
| Payroll taxes | $124,190 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,878 |
| 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 | $273,027 |
| Advertising and promotion | $113,025 |
| Office expenses | $347,694 |
| Information technology | $0 |
| Royalties | $1,216 |
| Occupancy | $317,246 |
| Travel | $15,039 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $69,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,121,831 |
| Insurance | $290,659 |
| All other expenses | -$32,322 |
| Total functional expenses | $4,938,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $997,586 |
| Savings and temporary cash investments | $693,103 |
| Pledges and grants receivable | $117,883 |
| 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 | $45,775 |
| Prepaid expenses and deferred charges | $312,523 |
| Net Land, buildings, and equipment | $30,007,905 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $47,055,344 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $137,599 |
| Total assets | $79,367,718 |
| Accounts payable and accrued expenses | $302,715 |
| 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 | $302,715 |
| Net assets without donor restrictions | $21,229,946 |
| Net assets with donor restrictions | $57,835,057 |
| 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 | $79,367,718 |