Newport Car Museum Inc
- Assets
- $2.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 18
- Location
- Portsmouth, RI
- Founding
- 07/2017
- Data as of
- 12/2021
- EIN
- 81-4362384
Organization Overview
Newport Car Museum Inc is located in Portsmouth, RI. The organization was established in 2017. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Newport Car Museum Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newport Car 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, Newport Car Museum Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.4% each year.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISH A CLASSIC CAR MUSEUM FOR THE PUBLIC AS WELL AS LIBRARIES TO REFERENCE THE DESIGN AND MANUFACTURE OF THESE VEHICLES.
Describe the Organization's Program Activity:
MUSEUM OPERATIONS, INCLUDING EXHIBITIONS AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gunther K Buerman Chairman | OfficerTrustee | 15 | $0 |
Magnus Buerman Secretary | OfficerTrustee | 2 | $0 |
Margaretha Buerman President | OfficerTrustee | 15 | $0 |
Greta Buerman Director | Trustee | 2 | $0 |
Gabriella Weinstein Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,942 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $139,225 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,500,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,644,167 |
| Total Program Service Revenue | $723,002 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,406 |
| 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 | $60,000 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,440,575 |
| 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 | $347,968 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,837 |
| Payroll taxes | $38,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,724 |
| Advertising and promotion | $16,637 |
| Office expenses | $81,653 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $273,838 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,736 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $446,731 |
| Insurance | $0 |
| All other expenses | $2,001 |
| Total functional expenses | $1,305,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,445 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $146,655 |
| Prepaid expenses and deferred charges | $17,500 |
| Net Land, buildings, and equipment | $2,419,285 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,852,461 |
| Accounts payable and accrued expenses | $3,232 |
| 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 | $730,796 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,031 |
| Total liabilities | $735,059 |
| Net assets without donor restrictions | $2,117,402 |
| 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 | $2,852,461 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Newport Car Museum Inc has recieved totaling $275.
| Awarding Organization | Amount |
|---|---|
Vytautas Burbulis Charitable Tr New York, NY PURPOSE: GENERAL SUPPORT GRANT | $275 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society For The Preservation Of New England Antiquities Inc Boston, MA | $149,018,347 | $24,101,977 |
Old Sturbridge Inc Sturbridge, MA | $21,603,377 | $13,063,304 |
Plimoth Patuxet Museums Inc Plymouth, MA | $39,663,068 | $8,933,676 |
Historic Deerfield Inc Deerfield, MA | $76,973,698 | $8,334,092 |
Heritage Plantation Of Sandwich Inc Sandwich, MA | $34,658,032 | $6,604,835 |
Scottish Rite Masonic Museum & Library Inc Lexington, MA | $63,564,259 | $9,227,595 |
Audrain Automobile Museum Inc Newport, RI | $3,719,380 | $2,562,395 |
General Society Of Mayflower Descendants Plymouth, MA | $8,416,506 | $2,797,450 |
The Mark Twain Memorial Hartford, CT | $16,236,418 | $4,258,653 |
National Coast Guard Museum Association Inc New London, CT | $17,635,253 | $4,459,044 |
Collings Foundation Inc Hudson, MA | $76,716,195 | $4,768,988 |
Hill-Stead Museum Farmington, CT | $10,969,005 | $5,221,555 |