Miami Childrens Museum Inc
- Assets
- $30.3m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 196
- Location
- Miami, FL
- Founding
- 07/1984
- Data as of
- 06/2023
- EIN
- 59-2396999
Organization Overview
Miami Childrens Museum Inc is located in Miami, FL. The organization was established in 1984. According to its NTEE Classification (A52) the organization is classified as: Children's Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Miami Childrens Museum Inc employed 196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miami Childrens Museum 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 06/2023, Miami Childrens Museum Inc generated $10.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $9.6m during the year ending 06/2023. While expenses have increased by 3.6% 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
MIAMI CHILDREN'S MUSEUM IS A NON-PROFIT EDUCATIONAL INSTITUTION, WHICH MEETS THE NEEDS OF ALL CHILDREN IN OUR MULTICULTURAL COMMUNITY. VISITORS OF ALL AGES ARE ENCOURAGED TO PLAY TOGETHER, LEARN, IMAGINE, AND CREATE. THE MUSEUM OFFERS INTERACTIVE EXHIBITS, PROGRAMS AND LEARNING MATERIALS RELATED TO ARTS, CULTURE, COMMUNITY AND COMMUNICATION. MIAMI CHILDREN'S MUSEUM IS DEDICATED TO ENRICHING THE LIVES OF ALL CHILDREN BY FOSTERING A LOVE OF LEARNING AND ENABLING CHILDREN TO REALIZE THEIR HIGHEST POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIAMI CHILDREN'S MUSEUM SERVED APPROXIMATELY 432,000 CHILDREN AND THEIR FAMILIES IN FISCAL 2023. IN ADDITION TO OUR EXHIBITS, COMMUNITY ACTIVATIONS AND INFORMAL PROGRAMMING, THE MUSEUM OFFERS FORMAL EDUCATIONAL PROGRAMS TO 400 CHILDREN EACH DAY IN THE EARLY CHILDHOOD INSTITUTE (ECI ) AND THE MIAMI CHILDREN'S MUSEUM CHARTER SCHOOL(MCMCS). THE MUSEUM ALSO PROVIDES AFTER SCHOOL PROGRAMMING FOR 345 CHILDREN DAILY AT OUR FOUR PARTNER SCHOOLS IN LIBERTY CITY. THROUGH OUR CAMP PROGRAMMING, THE MUSEUM PROVIDES 11 WEEKS IN THE SUMMER, 2 WEEKS DURING THE WINTER AND 1 WEEK DURING SPRING BREAK OF THEMED, ART BASED, CURRICULUM FOR OVER 100 CHILDREN EACH WEEK. ENGAGED CHILDREN AND FAMILIES LOCALLY AND INTERNATIONALLY. THE MUSEUM'S TRAVELING EDUCATIONAL EXHIBITS: WIZARD OF OZ (LICENSED BY WARNER BROS) AND LION GUARD (LICENSED BY DISNEY) CONTINUED TO TRAVEL TO MAJOR METROPOLITAN CITIES UNTIL THE PANDEMIC CEASED OPERATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Berkowitz Chairman | OfficerTrustee | 6 | $0 |
Scott Wagner President | OfficerTrustee | 8 | $0 |
Marianne Devine Immediate Past President | OfficerTrustee | 4 | $0 |
Gary Reshefsky Past President | OfficerTrustee | 4 | $0 |
Michael Berkowitz Vice President | OfficerTrustee | 8 | $0 |
Kelly Ruane Melchiondo Vice President | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Verdeja De Armas Trujillo & Alvarez Accounting | 6/29/23 | $110,524 |
Big Span Structures Llc Construction | 6/29/23 | $425,950 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $777,865 |
| Related organizations | $0 |
| Government grants | $2,572,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,413,424 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,763,609 |
| Total Program Service Revenue | $4,872,790 |
| Investment income | $78,605 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,231 |
| Net Rental Income | $1,268,724 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$365,883 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $186,191 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,836,676 |
| 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. | $312,906 |
| Compensation of current officers, directors, key employees. | $19,588 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,194,984 |
| Pension plan accruals and contributions | $44,006 |
| Other employee benefits | $426,003 |
| Payroll taxes | $365,874 |
| 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 | $655,222 |
| Advertising and promotion | $191,916 |
| Office expenses | $323,479 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $247,927 |
| Travel | $148,327 |
| 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 | $930,297 |
| Insurance | $357,764 |
| All other expenses | $226,896 |
| Total functional expenses | $9,633,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,107,768 |
| Savings and temporary cash investments | $2,601,620 |
| Pledges and grants receivable | $1,067,085 |
| Accounts receivable, net | $183,565 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,602 |
| Prepaid expenses and deferred charges | $115,005 |
| Net Land, buildings, and equipment | $15,586,048 |
| Investments—publicly traded securities | $8,023,644 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $551,912 |
| Total assets | $30,273,249 |
| Accounts payable and accrued expenses | $621,529 |
| Grants payable | $0 |
| Deferred revenue | $577,216 |
| 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 | $498,592 |
| Total liabilities | $1,697,337 |
| Net assets without donor restrictions | $24,767,777 |
| Net assets with donor restrictions | $3,808,135 |
| 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 | $30,273,249 |