Agriculture Heritage Museum Inc
- Assets
- $10.5m
- Revenue
- $2.5m
- Investments
- $580.0k
- Employees
- 10
- Location
- Lubbock, TX
- Founding
- 03/2002
- Data as of
- 12/2021
- EIN
- 75-2940167
Organization Overview
Agriculture Heritage Museum Inc, operating under the name Fibermax Center For Discovery, is located in Lubbock, TX. The organization was established in 2002. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Fibermax Center For Discovery employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fibermax Center For Discovery 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, Fibermax Center For Discovery generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $614.3k during the year ending 12/2021. While expenses have increased by 1.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE HISTORY OF, TELL THE STORY OF, AND INSTILL PRIDE IN AMERICAN AGRICULTURE AND VALUES.
Describe the Organization's Program Activity:
THE CENTER DEMONSTRATES THE ROLE OF AGRICULTURE IN AMERICA, SPECIFICALLY THE SOUTHERN HIGH PLAINS. ARTIFACTS COMBINED WITH INTERACTIVE EXHIBITS SHOW VISITORS THE PAST, PRESENT AND FUTURE OF FARMING. THE CENTER ALSO PROVIDES EDUCATIONAL PROGRAMMING, DEMONSTRATIONS AND INFORMATIONAL MATERIAL FOR THE THOUSANDS OF ANNUAL VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lacee Hoelting Executive Director | Officer | 45 | $75,324 |
Dan Taylor President | OfficerTrustee | 30 | $0 |
Patti Jones Vice President | OfficerTrustee | 1 | $0 |
Curtis Griffith Secretary | OfficerTrustee | 3.5 | $0 |
Stanley Young Treasurer | OfficerTrustee | 30 | $0 |
Ron Chandler Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lee Lewis Construction Construction | 12/30/14 | $959,630 |
Museum Arts Inc Exhibit Design | 12/30/14 | $325,454 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,712 |
| Fundraising events | $148,826 |
| Related organizations | $0 |
| Government grants | $34,310 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,141,652 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,370,500 |
| Total Program Service Revenue | $11,482 |
| Investment income | $52,769 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,236 |
| Net Gain/Loss on Asset Sales | $4,425 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,419 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,483,831 |
| 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. | $78,103 |
| Compensation of current officers, directors, key employees. | $19,526 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,033 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,828 |
| Payroll taxes | $12,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,807 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,929 |
| Advertising and promotion | $1,570 |
| Office expenses | $14,548 |
| Information technology | $48,713 |
| Royalties | $0 |
| Occupancy | $56,929 |
| Travel | $424 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $224 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $226,841 |
| Insurance | $30,171 |
| All other expenses | $8,342 |
| Total functional expenses | $614,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,948 |
| Savings and temporary cash investments | $4,318,363 |
| Pledges and grants receivable | $36,600 |
| 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 | $8,438 |
| Prepaid expenses and deferred charges | $8,031 |
| Net Land, buildings, and equipment | $5,310,432 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $580,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,466,812 |
| Accounts payable and accrued expenses | $48,759 |
| 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 | $48,759 |
| Net assets without donor restrictions | $10,303,242 |
| Net assets with donor restrictions | $114,811 |
| 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 | $10,466,812 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Agriculture Heritage Museum Inc has recieved totaling $91,390.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of West Texas Lubbock, TX PURPOSE: GENERAL SUPPORT | $91,390 |
Endowment Analysis
| Beg. Balance | $83,140 |
| Earnings | $30,971 |
| Net Contributions | $700 |
| Ending Balance | $114,811 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National World War Ii Museum Inc New Orleans, LA | $356,423,154 | $49,812,071 |
Dallas Holocaust Museum Dallas, TX | $66,648,208 | $7,378,894 |
Alamo Trust Inc San Antonio, TX | $7,473,583 | $9,052,846 |
Lone Star Flight Museum Houston, TX | $40,810,370 | $4,057,590 |
Dallas County Historical Foundation Dallas, TX | $11,613,862 | $4,636,701 |
Bryan Texana Foundation Houston, TX | $8,461,183 | $2,408,537 |
Port Terminal Railroad Association Employee Benefit Plan Houston, TX | $666,713 | $3,214,049 |
Museum Of South Texas History Edinburg, TX | $13,050,416 | $3,078,245 |
National Atomic Museum Foundation Albuquerque, NM | $7,001,482 | $2,166,618 |
National Wasp Wwii Museum Inc Sweetwater, TX | $6,526,024 | $2,354,607 |
Fort Bend History Association Richmond, TX | $2,253,912 | $1,581,354 |
Panhandle-Plains Historical Society Canyon, TX | $16,000,249 | $2,121,798 |