Museum Of Discovery
- Assets
- $11.3m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 51
- Location
- Little Rock, AR
- Founding
- 06/1978
- Data as of
- 12/2021
- EIN
- 71-0391707
Organization Overview
Museum Of Discovery is located in Little Rock, AR. The organization was established in 1978. 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 12/2021, Museum Of Discovery employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Discovery 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 12/2021, Museum Of Discovery generated $7.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IGNITE A PASSION FOR SCIENCE, TECHNOLOGY AND MATH IN A DYNAMIC, INTERACTIVE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE MUSEUM OF DISCOVERY SERVED OVER 45,740 INDIVIDUALS IN ITS FACILITY WITH HANDS-ON EXHIBITS AND ON SITE PROGRAMMING IN 2021. THE MUSEUM PROVIDED UNIQUE IN-HOUSE EDUCATIONAL PROGRAMS FOR STUDENTS FROM 17 OF THE 75 ARKANSAS COUNTIES, AND FROM 4 DIFFERENT STATES.
SEE SCHEDULE OTHE ARKANSAS DISCOVERY NETWORK IS A PROGRAM OF THE MUSEUM OF DISCOVERY. THE NETWORK IS A CONSORTIUM OF LIBRARIES AND SCHOOLS, WHICH ARE LOCATED IN MULTIPLE SITES ACROSS THE STATE OF ARKANSAS AND ARE DEDICATED TO SERVING CHILDREN AND THEIR FAMILIES, ESPECIALLY IN RURAL AREAS WITH HIGH QUALITY EDUCATIONAL EXHIBITS, PROGRAMMING AND PROFESSIONAL DEVELOPMENT. BY PARTICIPATING IN THE NETWORK, THE PARTNER LOCATIONS ARE STRENGTHENED TO BETTER SERVE THEIR COMMUNITIES THROUGH PROFESSIONAL DEVELOPMENT AND COLLABORATION WITH PEERS.
SEE SCHEDULE OIN 2021, THE MUSEUM SERVED APPROXIMATELY 11,805 STUDENTS IN THE STATE WITH EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelley Bass Chief Executive Officer | Officer | 40 | $132,032 |
Jon Dor Chief Financial Officer | Officer | 40 | $91,000 |
Wade Radke Chair Elect | OfficerTrustee | 1 | $0 |
Elizabeth Childers Parker Chair | OfficerTrustee | 1 | $0 |
Bob Childress Treasurer | OfficerTrustee | 1 | $0 |
Miguel Lopez Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hands On Inc Digital Marketing | 12/30/21 | $271,389 |
All-clean Usa Restoration Services | 12/30/21 | $399,479 |
Ac Services And Mechanical Llc A/c Services | 12/30/21 | $136,441 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $335,640 |
| Related organizations | $0 |
| Government grants | $1,571,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $668,277 |
| Noncash contributions included in lines 1a–1f | $33,670 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,575,334 |
| Total Program Service Revenue | $463,217 |
| Investment income | $52,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,428,515 |
| Net Income from Fundraising Events | -$25,644 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,535 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,522,016 |
| 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. | $240,528 |
| Compensation of current officers, directors, key employees. | $125,897 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,113,540 |
| Pension plan accruals and contributions | $26,580 |
| Other employee benefits | $66,394 |
| Payroll taxes | $110,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $45,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,344 |
| Fees for services: Other | $0 |
| Advertising and promotion | $34,838 |
| Office expenses | $27,235 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $491,230 |
| Travel | $1,453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,140 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $387,565 |
| Insurance | $28,896 |
| All other expenses | $4,046 |
| Total functional expenses | $3,186,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,058 |
| Savings and temporary cash investments | $4,060,708 |
| Pledges and grants receivable | $336,405 |
| Accounts receivable, net | $24,498 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,516 |
| Prepaid expenses and deferred charges | $26,724 |
| Net Land, buildings, and equipment | $2,581,587 |
| Investments—publicly traded securities | $2,258,448 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,429,313 |
| Total assets | $11,251,257 |
| Accounts payable and accrued expenses | $200,979 |
| Grants payable | $0 |
| Deferred revenue | $120,113 |
| 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 | $321,092 |
| Net assets without donor restrictions | $8,300,481 |
| Net assets with donor restrictions | $2,629,684 |
| 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 | $11,251,257 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Museum Of Discovery has recieved totaling $137,056.
| Awarding Organization | Amount |
|---|---|
Centerpoint Energy Foundation Inc Houston, TX PURPOSE: MUSEUM OF DISCOVERY SCIENCE FOR ALL AND EDUCATIONAL OUTREACH | $25,000 |
Arconic Foundation Pittsburgh, PA PURPOSE: GIRLS IN STEM 2022 PROGRAM AT THE MUSEUM OF DISCOVERY | $25,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $22,046 |
Bodenhamer Foundation Ft Collins, CO PURPOSE: PROVIDE LEARNIG ECPERIENCE FOR KIDS | $20,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $15,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $8,000 |
Endowment Analysis
| Beg. Balance | $2,184,471 |
| Earnings | $257,054 |
| Net Contributions | $247,500 |
| Other Expense | $59,341 |
| Ending Balance | $2,629,684 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Witte Museum San Antonio, TX | $80,577,156 | $11,273,075 |
American Airpower Heritage Museum Inc Dallas, TX | $14,350,324 | $12,462,262 |
National Cowboy And Western Heritage Museum Inc Oklahoma City, OK | $111,505,092 | $15,269,819 |
Science Museum Oklahoma Inc Oklahoma City, OK | $87,882,272 | $6,278,809 |
Fort Worth Museum Of Science And History Fort Worth, TX | $55,575,767 | $8,824,812 |
Holocaust Museum Houston Houston, TX | $41,860,555 | $7,348,837 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Gilcrease Museum Management Trust Tulsa, OK | $58,936,912 | $9,269,478 |
Lady Lex Museum On The Bay Association Corpus Christi, TX | $13,577,755 | $8,975,317 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |