Klipsch Heritage Museum Association Inc
- Assets
- $575.7k
- Revenue
- $101.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Hope, AR
- Founding
- 08/2016
- Data as of
- 06/2021
- EIN
- 81-3115229
Organization Overview
Klipsch Heritage Museum Association Inc, operating under the name Klipsch Museum Of Audio History, is located in Hope, AR. The organization was established in 2016. 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. Klipsch Museum Of Audio History 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 06/2021, Klipsch Museum Of Audio History generated $101.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.7%) each year. All expenses for the organization totaled $43.4k during the year ending 06/2021. 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 RESTORE, PRESERVE & DISPLAY KLIPSCH- RELATED ARTIFACTS & ARCHIVAL MATERIALS FOR HISTORIC PURPOSES, CONDUCT HISTORICAL RESEARCH, & HOST EDUCATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEASED FROM THE LOCAL CITY BOARD, A BUILDING ON THE NATIONAL HISTORIC REGISTER HAS BEEN TRANSFORMED INTO AN EDUCATION CENTER, WITH RIBBON-CUTTING IN MAY OF 2019. THE MUSEUM IS OPEN FOR FREE PUBLIC TOURS THREE DAYS A WEEK OR BY APPOINTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Hunter Curator | Officer | 20 | $6,885 |
Stacey Atchison Treasurer | OfficerTrustee | 5 | $0 |
Roy Delgado Executive Vice-President | OfficerTrustee | 5 | $0 |
Denise Cooper Secretary | OfficerTrustee | 5 | $0 |
Richard Groves President | OfficerTrustee | 5 | $0 |
Tim Cooper Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,913 |
| Fundraising events | $20,833 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,373 |
| Noncash contributions included in lines 1a–1f | $16,087 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,119 |
| Total Program Service Revenue | $5,720 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$305 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $473 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $101,112 |
| 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 | $2,293 |
| 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 | $2,131 |
| Information technology | $4,094 |
| Royalties | $0 |
| Occupancy | $7,628 |
| Travel | $3,301 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,829 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,076 |
| Insurance | $5,328 |
| All other expenses | $4 |
| Total functional expenses | $43,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,745 |
| Savings and temporary cash investments | $24,988 |
| 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 | $17,445 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $209,459 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $293,087 |
| Total assets | $575,724 |
| Accounts payable and accrued expenses | $1,598 |
| 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 | $69,417 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $71,015 |
| Net assets without donor restrictions | $504,709 |
| 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 | $575,724 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Klipsch Heritage Museum Association Inc has recieved totaling $12,423.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $12,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $423 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Science Museum Oklahoma Inc Oklahoma City, OK | $87,882,272 | $6,278,809 |
Fort Worth Museum Of Science And History Fort Worth, TX | $55,575,767 | $8,824,812 |
Holocaust Museum Houston Houston, TX | $41,860,555 | $7,348,837 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Gilcrease Museum Management Trust Tulsa, OK | $58,936,912 | $9,269,478 |
Lady Lex Museum On The Bay Association Corpus Christi, TX | $13,577,755 | $8,975,317 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |
Medal Of Honor Museum Foundation Arlington, TX | $99,959,490 | $88,628,383 |
Adventure Science Center Nashville Nashville, TN | $22,045,170 | $10,457,321 |
Battleship Texas Foundation Inc Houston, TX | $9,923,977 | $4,711,164 |
Tennessee Valley Railroad Museum Inc Chattanooga, TN | $14,724,108 | $5,452,372 |