Midland Gem & Mineral Society Inc
- Assets
- $584.4k
- Revenue
- $51.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Midland, TX
- Founding
- 02/1998
- Data as of
- 12/2021
- EIN
- 75-1173136
Organization Overview
Midland Gem & Mineral Society Inc is located in Midland, TX. The organization was established in 1998. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., 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. Midland Gem & Mineral 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 12/2021, Midland Gem & Mineral Society Inc generated $51.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $36.0k during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION IN THE AREAS OF GEMOLOGY,FACITING,& GEOLOGY
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION TEACHING & TRAINING MEMBERS AND THE GENERAL PUBLIC IN AREAS OF COLLECTING,POLISHING,CUTTING&SETTING OF STONES, MINERALS,FOSSILS. LEARNING THE HISTORY OF GEOLOGICAL&GEOPHYSICAL PHENOMONA. PROVIDE TRAINING CLASSES IN PUBLIC SCHOOLS (ONLY ONE MAJOR PROGRAM)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Johnson Agent | Officer | 1 | $0 |
Mary Tellinghuisen Secretary | Officer | 2 | $0 |
Linda Page Director | Trustee | 1 | $0 |
Craig Tellinghauisen Director | Trustee | 1 | $0 |
Raymond Boswell Director | Trustee | 1 | $0 |
Jim Darby Director | Trustee | 3 | $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 | $3,899 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,899 |
| Total Program Service Revenue | $5,589 |
| Investment income | $18,856 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $22,682 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,026 |
| 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 | $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 | $2,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,711 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,051 |
| 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 | $12,013 |
| Insurance | $9,196 |
| All other expenses | $4,269 |
| Total functional expenses | $36,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,169 |
| Savings and temporary cash investments | $157,836 |
| 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 | $76,012 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $322,353 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $584,370 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $469,345 |
| Net assets with donor restrictions | $115,025 |
| 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 | $584,370 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Midland Gem & Mineral Society Inc has recieved totaling $8,548.
| Awarding Organization | Amount |
|---|---|
Permian Basin Area Foundation Midland, TX PURPOSE: arts and culture | $8,548 |
Endowment Analysis
| Beg. Balance | $97,315 |
| Earnings | $18,836 |
| Admin Expense | $1,711 |
| Net Contributions | $500 |
| Other Expense | $3,114 |
| Ending Balance | $111,826 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Dental Association Austin, TX | $10,861,399 | $4,136,384 |
Bos Place Houston, TX | $5,835,899 | $1,943,445 |
Tales Of The Cocktail Foundation Inc Metairie, LA | $658,022 | $2,036,416 |
Robert S & Grayce B Kerr Foundation Inc Oklahoma City, OK | $19,234,723 | $2,069,941 |
Krewe Of Red Beans New Orleans, LA | $2,812,891 | $1,780,291 |
Culture Aid Nola New Orleans, LA | $593,018 | $1,795,050 |
Rick C & Belinda G Foundation Fayetteville, AR | $24,298,767 | $2,403,306 |
North Texas Business Council For The Arts Dallas, TX | $531,144 | $506,888 |
Talking Talons Youth Leadership Cedar Crest, NM | $469,184 | $610,447 |
Citadelle Art Foundation Canadian, TX | $13,351,512 | $757,046 |
Leadership New Mexico Albuquerque, NM | $1,646,812 | $453,100 |
Studio School Of Music Richardson, TX | $483,028 | $643,200 |