Cotton Museum Inc
- Assets
- $944.9k
- Revenue
- $43.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Memphis, TN
- Founding
- 12/2000
- Data as of
- 12/2020
- EIN
- 62-1828260
Organization Overview
Cotton Museum Inc is located in Memphis, TN. The organization was established in 2000. 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 12/2020, Cotton Museum Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cotton 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 12/2020, Cotton Museum Inc generated $43.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (23.6%) each year. All expenses for the organization totaled $124.4k during the year ending 12/2020. 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
TO PROVIDE AN HISTORICALLY ACCURATE AND EDUCATIONAL MUSEUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVATION OF THE HISTORY, HERITAGE AND CULTURE OF THE COTTON INDUSTRY IN GENERAL, AND ON THE COTTON INDUSTRY'S IMPACT ON THE HISTORY, HERITAGE, AND CULTURE OF MEMPHIS, TENNESSEE. ITS PURPOSE IS TO HONOR AND PRESERVE THE HISTORICAL RECORD OF THE INDIVIDUALS, BUSINESSES, AND EVENTS THAT HAVE AFFECTED THE COTTON INDUSTRY BY PROVIDING AN HISTORICALLY ACCURATE AND EDUCATIONAL MUSEUM IN MEMPHIS, TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ross Webster President | Officer | 1 | $0 |
Toni Sabella Barnes Vice President | Officer | 1 | $0 |
Trey Jones Treasurer | Officer | 1 | $0 |
Chip Crain Member | Trustee | 0 | $0 |
Murry Mcclintock Member | Trustee | 0 | $0 |
Mcclain Gordon Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,127 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,104 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,731 |
| Total Program Service Revenue | $10,788 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,500 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $881 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,040 |
| 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 | $35,297 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,875 |
| Advertising and promotion | $587 |
| Office expenses | $8,135 |
| Information technology | $2,568 |
| Royalties | $0 |
| Occupancy | $28,115 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $234 |
| Interest | $238 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,614 |
| Insurance | $2,418 |
| All other expenses | $0 |
| Total functional expenses | $124,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,464 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $32,457 |
| 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 | $9,692 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $606,524 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $291,739 |
| Total assets | $944,876 |
| Accounts payable and accrued expenses | $122,553 |
| 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 | $64,082 |
| Total liabilities | $186,635 |
| Net assets without donor restrictions | $758,241 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $944,876 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cotton Museum Inc has recieved totaling $13,700.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $8,100 |
Turley Foundation Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $5,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Barber Vintage Motorsports Museum Birmingham, AL | $96,854,317 | $20,184,084 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Mariners Museum Newport News, VA | $159,780,245 | $10,021,200 |
National Center For Civil And Humanrights Inc Atlanta, GA | $28,909,465 | $12,210,926 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Atlanta Hall Management Inc Atlanta, GA | $34,614,233 | $3,372,998 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |