Museum Of The Southwest
- Assets
- $19.1m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 26
- Location
- Midland, TX
- Founding
- 10/1966
- Data as of
- 12/2023
- EIN
- 75-1229711
Organization Overview
Museum Of The Southwest is located in Midland, TX. The organization was established in 1966. 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 12/2023, Museum Of The Southwest employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of The Southwest 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 12/2023, Museum Of The Southwest generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM OF THE SOUTHWEST WILL IMMERSE ITS VISITORS IN EXPERIENCES THAT WILL TRANSFORM THEIR UNIVERSE AND REVEAL NEW POSSIBILITIES. WE INSPIRE EXPLORATION AND INTERACTION WITH THE ARTS, SCIENCE, HISTORY, AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM OF THE SOUTHWEST SERVICES ITS COMMUNITY AS A UNIQUE REGIONAL RESOURCE FOR CULTURAL ENRICHMENT. IN ITS ART MUSEUM, CHILDREN'S MUSEUM, AND PLANETARIUM, AND ON ITS PARK-LIKE GROUNDS, THE MUSEUM PROVIDES OPPORTUNITIES FOR ENJOYMENT AND ENLIGHTENMENT TO PEOPLE OF ALL AGES. USING TOOLS OF EDUCATION AND ENTERTAINMENT, THE MUSEUM FOSTERS APPRECIATION OF ART AND SCIENCE AND NURTURES THE SPIRIT OF CREATIVITY, SENSITIVITY, AND DISCOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jana Floyd Hosiager President | OfficerTrustee | 1.5 | $0 |
Steve Pocsik Vice Preside | OfficerTrustee | 1.5 | $0 |
Brooke Moncrief Secretary | OfficerTrustee | 1.5 | $0 |
Derby Gallo Treasurer | OfficerTrustee | 1.5 | $0 |
Chelsea Pervier Past Preside | Trustee | 1.5 | $0 |
Rebecca Linehan Director | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Evans & Sutherland Equipment | 12/30/23 | $438,479 |
Mw Builders Inc Construction | 12/30/23 | $548,081 |
Specified Play Equipment Co Plaground Equip | 12/30/23 | $355,818 |
The Energy People Hr Services | 12/30/23 | $261,481 |
Health Care Service Corporation Health Coverage | 12/30/23 | $118,710 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $208,065 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,187,908 |
| Noncash contributions included in lines 1a–1f | $150,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,395,973 |
| Total Program Service Revenue | $384,867 |
| Investment income | $165,716 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $239,933 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $205,278 |
| Net Income from Fundraising Events | $32,478 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,428,474 |
| 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. | $99,014 |
| Compensation of current officers, directors, key employees. | $24,754 |
| Compensation to disqualified persons | $173,974 |
| Other salaries and wages | $906,967 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $142,581 |
| Payroll taxes | $97,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $78,704 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,715 |
| Fees for services: Other | $391,422 |
| Advertising and promotion | $46,745 |
| Office expenses | $109,561 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $230,163 |
| Travel | $27,064 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,787 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $655,842 |
| Insurance | $82,841 |
| All other expenses | $137,581 |
| Total functional expenses | $3,827,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $636,923 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $83,333 |
| Accounts receivable, net | $61,029 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,334 |
| Prepaid expenses and deferred charges | $34,551 |
| Net Land, buildings, and equipment | $13,432,292 |
| Investments—publicly traded securities | $4,759,183 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,051,645 |
| Accounts payable and accrued expenses | $252,428 |
| Grants payable | $0 |
| Deferred revenue | $48,413 |
| 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 | $330,312 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $631,153 |
| Net assets without donor restrictions | $13,571,432 |
| Net assets with donor restrictions | $4,849,060 |
| 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 | $19,051,645 |