Floating Museum Nfp
- Assets
- $3.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/2017
- Data as of
- 12/2023
- EIN
- 81-3014324
Organization Overview
Floating Museum Nfp is located in Chicago, IL. The organization was established in 2017. According to its NTEE Classification (A51) the organization is classified as: Art 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. Floating Museum Nfp 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 12/2023, Floating Museum Nfp generated $3.0m in total revenue. All expenses for the organization totaled $446.4k during the year ending 12/2023. While expenses have increased by 59.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FLOATING MUSEUM IS AN ARTS COLLECTIVE THAT CREATES NEW MODELS EXPLORING RELATIONSHIPS BETWEEN ART, COMMUNITY, ARCHITECTURE, AND PUBLIC INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
USING SITE-RESPONSIVE ART, DESIGN, AND PROGRAMMING THE ORGANIZATION EXPLORES THE POTENTIAL IN THESE RELATIONSHIPS, CONSIDERING THE INFRASTRUCTURE, HISTORY, AND AESTHETICS OF A SPACE.
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 |
|---|---|---|---|
Faheem Majeed Exec Dir/pres | OfficerTrustee | 40 | $0 |
Jeremiah Hulsebos Spofford Treasurer | OfficerTrustee | 2 | $0 |
Andrew Schachman Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,087 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,955,776 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,980,863 |
| Total Program Service Revenue | $6,900 |
| Investment income | $13,411 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $3,001,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $195,000 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,653 |
| Advertising and promotion | $1,114 |
| Office expenses | $1,500 |
| Information technology | $396 |
| Royalties | $0 |
| Occupancy | $27,711 |
| Travel | $36,520 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,012 |
| Interest | $6,803 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,447 |
| Insurance | $16,152 |
| All other expenses | $1,678 |
| Total functional expenses | $446,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $437,939 |
| Savings and temporary cash investments | $763,792 |
| Pledges and grants receivable | $1,518,087 |
| 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 | $1,652 |
| Net Land, buildings, and equipment | $325,069 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,046,539 |
| Accounts payable and accrued expenses | $2,414 |
| 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 | $119,230 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $121,644 |
| Net assets without donor restrictions | $1,143,444 |
| Net assets with donor restrictions | $1,781,451 |
| 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 | $3,046,539 |