Texas Energy Museum Inc
- Assets
- $3.9m
- Revenue
- $575.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Beaumont, TX
- Founding
- 12/1987
- Data as of
- 12/2021
- EIN
- 76-0225927
Organization Overview
Texas Energy Museum Inc is located in Beaumont, 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, Texas Energy Museum Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Energy 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 12/2021, Texas Energy Museum Inc generated $575.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $527.4k during the year ending 12/2021. While expenses have increased by 0.8% 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
MAINTAIN AND OPERATE MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN AND OPERATE MUSEUM
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Burrow Secretary | OfficerTrustee | $0 | |
Vernon Pierce President | OfficerTrustee | $0 | |
Jamie Dishman Treasurer | OfficerTrustee | $0 | |
Dennis Isaacs Vice Preside | OfficerTrustee | $0 | |
Chris Fisher Board Member | Trustee | $0 | |
Ryan Magee Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $308,200 |
| Related organizations | $64,783 |
| Government grants | $269,910 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,706 |
| Noncash contributions included in lines 1a–1f | $131,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $655,599 |
| Total Program Service Revenue | $4,654 |
| Investment income | -$123 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$84,133 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$758 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $575,239 |
| 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 | $170,266 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,963 |
| Payroll taxes | $12,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $221,023 |
| 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 | $25,064 |
| Insurance | $7,264 |
| All other expenses | $32,273 |
| Total functional expenses | $527,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,262 |
| Savings and temporary cash investments | $98,360 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,601 |
| Prepaid expenses and deferred charges | $10,283 |
| Net Land, buildings, and equipment | $116,568 |
| Investments—publicly traded securities | $30,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,401,372 |
| Total assets | $3,862,946 |
| Accounts payable and accrued expenses | $5,021 |
| Grants payable | $0 |
| Deferred revenue | $67,846 |
| 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 | $72,867 |
| Net assets without donor restrictions | $3,784,945 |
| Net assets with donor restrictions | $5,134 |
| 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 | $3,862,946 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Texas Energy Museum Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Wilton P & Effie Mae Hebert Foundation Beaumont, TX PURPOSE: SUPPORT FOR OPERATIONS | $20,000 |
Endowment Analysis
| Beg. Balance | $1,628,531 |
| Earnings | $296,930 |
| Admin Expense | $12,377 |
| Other Expense | $64,783 |
| Ending Balance | $1,848,301 |
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 |