Luling Area Oil Museum Inc
- Assets
- $1.2m
- Revenue
- $200.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Luling, TX
- Founding
- 04/1989
- Data as of
- 03/2024
- EIN
- 74-2559148
Organization Overview
Luling Area Oil Museum Inc is located in Luling, TX. The organization was established in 1989. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luling Area Oil 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 03/2024, Luling Area Oil Museum Inc generated $200.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 37.2% each year . All expenses for the organization totaled $56.8k during the year ending 03/2024. While expenses have increased by 13.3% per year over the past 4 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN AND OPERATE AN OIL MUSEUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN AND OPERATE AN OIL MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Flores Executive Dir. | Trustee | 20 | $15,000 |
Trey Bailey Director | Trustee | 0 | $0 |
Maurice Ward Director | Trustee | 0 | $0 |
Bill Cheshire Director | Trustee | 0 | $0 |
Darrel Hendricks Director | Trustee | 0 | $0 |
Juan Parades Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $30,097 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,258 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,355 |
| Total Program Service Revenue | $0 |
| Investment income | $1,690 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,571 |
| Net Gain/Loss on Asset Sales | $121,420 |
| Net Income from Fundraising Events | $17,011 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$1,885 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $200,162 |
| 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. | $15,000 |
| Compensation of current officers, directors, key employees. | $7,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,093 |
| Office expenses | $1,035 |
| Information technology | $708 |
| Royalties | $0 |
| Occupancy | $16,159 |
| Travel | $0 |
| 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 | $16,347 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $56,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,344 |
| Savings and temporary cash investments | $371,983 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $771,718 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,174,045 |
| Accounts payable and accrued expenses | $368 |
| 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 | $12,000 |
| Other liabilities | $0 |
| Total liabilities | $12,368 |
| Net assets without donor restrictions | $0 |
| 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 | $1,161,677 |
| Total liabilities and net assets/fund balances | $1,174,045 |