Science Spectrum
- Assets
- $16.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 55
- Location
- Lubbock, TX
- Founding
- 10/1987
- Data as of
- 12/2020
- EIN
- 75-2184555
Organization Overview
Science Spectrum is located in Lubbock, TX. The organization was established in 1987. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Science Spectrum employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Science Spectrum 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 12/2020, Science Spectrum generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SCIENCE AND TECHNOLOGY MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCIENCE SPECTRUM IS A SCIENCE AND TECHNOLOGY MUSEUM, A HANDS-ON EXHIBIT CENTER, AS WELL AS A STATE OF THE ART OMNIMAX THEATER IN ONE LOCATION. THIS ORGANIZATION BENEFITS THE GENERAL PUBLIC WITHIN A 200 MILE RADIUS OF LUBBOCK, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cassandra Henry President | OfficerTrustee | 50 | $96,643 |
Sally Cummings Director | OfficerTrustee | 1 | $0 |
Kyle Wargo Director | OfficerTrustee | 1 | $0 |
Lou Diekemper Director | OfficerTrustee | 1 | $0 |
Scott Cherry Director | Trustee | 1 | $0 |
Kathy Rollo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $138,463 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $584,299 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $722,762 |
| Total Program Service Revenue | $300,724 |
| Investment income | $102,247 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $237,089 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $76,878 |
| Net Income from Gaming Activities | $105,360 |
| Net Income from Sales of Inventory | $31,820 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,576,880 |
| 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. | $834,365 |
| Compensation of current officers, directors, key employees. | $25,031 |
| Compensation to disqualified persons | $64,981 |
| 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 | $19,103 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $26,339 |
| Office expenses | $34,646 |
| Information technology | $13,218 |
| Royalties | $0 |
| Occupancy | $153,322 |
| Travel | $360 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $349 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $451,231 |
| Insurance | $117,067 |
| All other expenses | $132,477 |
| Total functional expenses | $2,139,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,000 |
| Savings and temporary cash investments | $2,304,729 |
| Pledges and grants receivable | $35,000 |
| Accounts receivable, net | $3,084 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,235 |
| Prepaid expenses and deferred charges | $41,727 |
| Net Land, buildings, and equipment | $12,250,900 |
| Investments—publicly traded securities | $1,310,846 |
| Investments—other securities | $0 |
| Investments—program-related | $218,889 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,170,410 |
| Accounts payable and accrued expenses | $17,253 |
| Grants payable | $0 |
| Deferred revenue | $39,964 |
| 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 | $24,175 |
| Total liabilities | $81,392 |
| Net assets without donor restrictions | $16,054,018 |
| Net assets with donor restrictions | $35,000 |
| 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 | $16,170,410 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Science Spectrum has recieved totaling $10,811.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of West Texas Lubbock, TX PURPOSE: GENERAL SUPPORT | $10,811 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John P Mcgovern Museum Of Health & Medical Science Houston, TX | $24,840,825 | $3,187,281 |
Permian Basin Petroleum Museum Library & Hall Of Fame Midland, TX | $51,276,941 | $3,437,323 |
Science Spectrum Lubbock, TX | $16,170,410 | $1,576,880 |
Don Harrington Discovery Center Foundation Inc Amarillo, TX | $11,557,284 | $2,641,973 |
Samsat San Antonio, TX | $2,066,200 | $1,357,551 |
Tulsa Air And Space Museum Inc Tulsa, OK | $6,390,793 | $1,036,013 |
Cavanaugh Flight Museum Addison, TX | $2,944,970 | -$123,262 |
The International Ufo Museum & Research Center At Roswell New Roswell, NM | $4,411,602 | $479,226 |
Texas Energy Museum Inc Beaumont, TX | $3,862,946 | $575,239 |
International Petroleum Museum And Exposition Inc Morgan City, LA | $895,639 | $136,722 |
Insights-El Paso Science Center Inc El Paso, TX | $282,474 | $199,396 |
Vishal Raju Bhagat Foundation Rockport, TX | $881,850 | $347,531 |