Museum Of American Armor Inc
- Assets
- $3.8m
- Revenue
- $490.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Old Bethpage, NY
- Founding
- 04/2013
- Data as of
- 12/2021
- EIN
- 80-0866399
Organization Overview
Museum Of American Armor Inc is located in Old Bethpage, NY. The organization was established in 2013. According to its NTEE Classification (A50) the organization is classified as: Museums, 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. Museum Of American Armor 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, Museum Of American Armor Inc generated $490.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $953.2k during the year ending 12/2021. 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
TO IDENTIFY, ACQUIRE, MAINTAIN & DISPLAY TO THE GENERAL PUBLIC A COLLECTION OF AMERICAN MILITARY ARMOR & RELATED EQUIPMENT IN MUSEUM FASHION & IN A CONTEXT WHICH HONORS & RESPECTS THE HISTORY, COURAGE & EDUCATION INHERENT IN SUCH A MUSEUM COLLECTION & DISPLAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM ACQUIRED, MAINTAINED AND DISPLAYED TO THE GENERAL PUBLIC A COLLECTION OF AMERICAN MILITARY ARMOR AND RELATED EQUIPMENT IN MUSEUM FASHION AND IN A CONTEXT WHICH HONORS AND RESPECTS THE HISTORY, COURAGE AND EDUCATION INHERENT IN SUCH A MUSEUM COLLECTION AND DISPLAY.THE MUSEUM HAS RECEIVED A CONTRIBUTION FROM NASSAU COUNTY OF THE RIGHT TO USE THE LAND THAT THE MUSEUM IS BUILT UPON, AND THE RIGHT TO USE THE MUSEUM PURSUANT TO THE LICENSE AGREEMENT. THE VALUE OF THIS RIGHT APPROXIMATES $3,750,000 OVER THE TERM OF THE LICENSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Lewi Vice President | Trustee | 9 | $0 |
Ed Blumenfeld Trustee | Trustee | 0.5 | $0 |
Michael Polimeni Trustee | Trustee | 1 | $0 |
Michael Sapricone Trustee | Trustee | 6 | $0 |
Steve Napolitano Trustee | Trustee | 0.5 | $0 |
Ray Kelly Trustee | Trustee | 0.5 | $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 | $534,757 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $534,757 |
| Total Program Service Revenue | $0 |
| Investment income | $42 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $86,000 |
| Net Gain/Loss on Asset Sales | -$130,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $490,799 |
| 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 | $11,742 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,246 |
| Office expenses | $20,268 |
| Information technology | $8,994 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,290 |
| 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 | $366,874 |
| Insurance | $89,172 |
| All other expenses | $23,215 |
| Total functional expenses | $953,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $378,849 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $33,568 |
| Net Land, buildings, and equipment | $2,481,091 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $865,000 |
| Total assets | $3,758,508 |
| Accounts payable and accrued expenses | $38,774 |
| 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 | $19,790 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,000 |
| Total liabilities | $83,564 |
| Net assets without donor restrictions | $3,674,944 |
| Net assets with donor restrictions | $0 |
| 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 | $3,758,508 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carnegie Institute Pittsburgh, PA | $541,460,866 | $82,217,609 |
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
The Corning Museum Of Glass Corning, NY | $73,662,076 | $31,481,253 |
Intrepid Museum Foundation Inc New York, NY | $107,274,514 | $23,304,017 |
Jewish Museum New York, NY | $170,221,432 | $22,874,963 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
Newark Museum Association Newark, NJ | $64,370,892 | $11,736,749 |
Brandywine Conservancy & Museum Of Art Chadds Ford, PA | $159,611,083 | $25,949,606 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |