Idabel Museum Society Inc
- Assets
- $11.1m
- Revenue
- $2.4m
- Investments
- $2.5m
- Employees
- 11
- Location
- Idabel, OK
- Founding
- 04/1998
- Data as of
- 12/2022
- EIN
- 73-1531643
Organization Overview
Idabel Museum Society Inc is located in Idabel, OK. The organization was established in 1998. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Idabel Museum Society Inc employed 11 individuals. This organization is the central organization for a national or regional group of organizations. Idabel Museum 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 12/2022, Idabel Museum Society Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $712.2k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EXCLUSIVE SUPPORT AND BENEFITS TO THE CITY OF IDABEL'S MUSEUM OF THE RED RIVER IN IDABEL, OKLAHOMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTIONS CARE AND MANAGEMENT, EXHIBITIONS: IMSI CURATES COLLECTIONS FOR THE USE OF/AND BY THE MUSEUM OF THE RED RIVER CURRENTLY, OVER 30,000 ARTIFACTS ARE USED FOR PUBLICITY PURPOSES AND INCLUDE PRIMARILY ETHNOGRAPHIC ART FROM PREHISTORIC TO CONTEMPORARY TIMES. THE SOCIETY'S MAJOR FOCUS IS THE MATERIAL CULTURE OF NATIVE AMERICA; HOWEVER, IT ALSO HAS A GROWING NUMBER OF COMPARATIVE OBJECTS FROM AFRICA AND ASIA. THE SOCIETY ACCEPTS DONATIONS OF VARIOUS ARTIFACTS AND MEMORABILIA, IN WHICH THE ITEM VALUES MAY BE UNDETERMINED. THE SOCIETY ALSO PURCHASES COLLECTION ITEMS. ALL ITEMS ARE APPROVED BY THE BOARD BEFORE BEING CATALOGUED. IMSI PROVIDES VISUAL AND AESTHETIC EXPERIENCES TO OVER 19,000 VISITORS, OFF-SITE EXIBITS IN FOUR REGIONAL LIBRARIES AND THREE COMMUNITY CENTERS TO BROADEN OPPORTUNITIES TO THE LARGER COMMUNITY. IMSI HAS ALSO CONTRACTED WITH THE VALLEY OF THE CADDO MUSEUM(PARIS, TX) TO PROVIDE THEM WITH TWO EXHIBITS PER YEAR.
RESEARCH ACTIVITIES AND PROGRAMS: IMSI SUPPORTS THE EXHIBITIONS OF THE MUSEUM WHICH IN 2017 INCLUDED A MAJOR BUILDING EXPANSION PROJECT TO IMPROVE STORAGE COLLECTIONS AND ALL PUBLIC SPACES, INCLUDING EXHIBITION GALLERIES, MUSEUM STORE AND EDUATION PROGRAMMING SPACES. SUPPORT ALSO INCLUDES CHANGING DISPLAYS AND PERMANENT INSTALLATIONS, PLUS ROTATING DISPLAYS AT OFF-SITE LOCATIONS. OBJECTS MUST BE RESEARCHED FOR ACCURATE INFORMATION. THE PROGRAMS OF THE MUSEUM INCLUDE SCHOOL GROUP TOURS(SERVING 4000+ VISITORS), EDUCATIONAL CAMPS ON ARTS, CULTURE, AND NATURAL HISTORY FOR CHILDREN, PLUS MONTHLY SPEAKERS AND ARTISTS/DEMONSTRATORS.
MUSEUM STORE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judy Petre President | Trustee | 0 | $0 |
Sandra Jackson Member | Trustee | 0 | $0 |
Lindsey Campbell Member | Trustee | 0 | $0 |
Dr Robert Brooks Member | Trustee | 0 | $0 |
Carolynn Neal Treasurer | Trustee | 0 | $0 |
John Ramsey Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $321,024 |
| Noncash contributions included in lines 1a–1f | $152,503 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $321,024 |
| Total Program Service Revenue | $0 |
| Investment income | $1,941,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,613 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,360,671 |
| 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. | $82,223 |
| Compensation of current officers, directors, key employees. | $22,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $210,514 |
| Pension plan accruals and contributions | $6,020 |
| Other employee benefits | $11,734 |
| Payroll taxes | $21,632 |
| Fees for services: Management | $57,668 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,026 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,002 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,482 |
| Insurance | $36,844 |
| All other expenses | $100 |
| Total functional expenses | $712,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $294,570 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $36,816 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $149,521 |
| Investments—publicly traded securities | $8,082,882 |
| Investments—other securities | $2,534,190 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,097,979 |
| Accounts payable and accrued expenses | $12,040 |
| 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 | $12,040 |
| Net assets without donor restrictions | $10,027,831 |
| Net assets with donor restrictions | $1,058,108 |
| 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 | $11,097,979 |