Museum Center Park Inc
- Assets
- $13.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 07/2016
- Data as of
- 08/2023
- EIN
- 81-0803576
Organization Overview
Museum Center Park Inc is located in Milwaukee, WI. The organization was established in 2016. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Center Park 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 08/2023, Museum Center Park Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $1.9m during the year ending 08/2023. While expenses have increased by 4.1% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCEPT, ACQUIRE, LEASE, HOLD, DEVELOP, OPERATE, MANAGE, SELL, TRANSFER AND OTHERWISE DEAL IN PROPERTY FOR USE AND ENJOYMENT BY, IN FURTHERANCE OF THE PURPOSES OF, AND FOR THE EXCLUSIVE BENEFIT OF MILWAUKEE ART MUSEUM, INC.TO HOLD, INVEST AND ADMINISTER PROPERTY AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF, TO CARRY OUT THE PURPOSES OF, AND TO PERFORM THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF MILWAUKEE ART MUSEUM, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO LESSEN THE BURDENS OF GOVERNMENT, MUSEUM CENTER PARK INC. (MCP) OPERATES, MAINTAINS AND ACTS AS LESSOR FOR THE PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED AT O'DONNELL PARK. MCP ENHANCES THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING IN THE AREA, PROVIDES GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT AND SURROUNDING AREAS BY MAINTAINING THE PARK FOR THE PUBLIC'S USE AND ENJOYMENT, AND CONTINUES MILWAUKEE COUNTY'S PREVIOUSLY CONDUCTED ACTIVITIES OF PROVIDING PARKING FACILITIES TO THE GENERAL PUBLIC AND RENTAL SPACE TO LOCAL ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcelle Polednik Baumgartner Director Of Ma | Officer | 1 | $0 |
Alissa Karl CFO Of Mam | Officer | 10 | $0 |
Daniel Somers Facilities Director | 10 | $0 | |
Joel Quadracci President | OfficerTrustee | 1 | $0 |
Peter Damsgaard Secretary | OfficerTrustee | 1 | $0 |
Kathy Thornton-Bias Treasurer | OfficerTrustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,772,878 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $140,491 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,913,369 |
| 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 | $367,802 |
| Fees for services: Legal | $27,748 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,946 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $509,958 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,902 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $888,913 |
| Insurance | $36,589 |
| All other expenses | $19,059 |
| Total functional expenses | $1,914,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $365,214 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $199,141 |
| 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 | $10,686 |
| Net Land, buildings, and equipment | $12,912,372 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,487,413 |
| Accounts payable and accrued expenses | $225,511 |
| Grants payable | $0 |
| Deferred revenue | $8,333 |
| 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 | $1,357,252 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $399,725 |
| Total liabilities | $1,990,821 |
| Net assets without donor restrictions | $11,496,592 |
| 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 | $13,487,413 |