Laurens County Museum Association
- Assets
- $2.0m
- Revenue
- $252.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Laurens, SC
- Founding
- 08/2005
- Data as of
- 12/2022
- EIN
- 84-1679030
Organization Overview
Laurens County Museum Association is located in Laurens, SC. The organization was established in 2005. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Laurens County Museum Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laurens County Museum Association 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 12/2022, Laurens County Museum Association generated $252.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (32.4%) each year. All expenses for the organization totaled $265.5k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LAURENS COUNTY MUSEUM ASSOCIATION IS MAINTAINED AND OPERATED TO PRESERVE THE HISTORY OF LAURENS COUNTY, SOUTH CAROLINA AND OPERATE A MUSEUM DEVOTED TO ACQUIRING AND EXHIBITING FOR THE PUBLIC ITEMS THAT PERTAIN TO LAURENS COUNTY'S SETTLEMENT AND DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
-ESTABLISH FOR ALL OF LAURENS COUNTY A VIABLE AND SUSTAINABLE MUSEUM THAT WILL SERVE AS A REPOSITORY FOR ARTIFACTS, DOCUMENTS, AND OTHER COLLECTIBLES THAT ARE IMPORTANT TO THE HISTORY OF LAURENS COUNTY -CREATE A FACILITY AND AN ENVIRONMENT CONDUCIVE TO RESEARCH BY VISITING SCHOLARS INTERESTED IN THE MANY VALUABLE COLLECTIONS MAINTAINED BY THE LAURENS COUNTY MUSEUM, INCLUDING THE NATIONALLY RECOGNIZED NATIVE AMERICAN COLLECTIONS ALREADY HOUSED AT THE LCMA -COLLABORATE WITH LOCAL AND REGIONAL SCHOOLS, COLLEGES, AND UNIVERSITIES TO ESTABLISH AN EDUCATIONAL RESOURCE THAT WILL ENHANCE EDUCATIONAL OPPORTUNITIES FOR ALL WHO WANT TO LEARN-FROM ELEMENTARY SCHOOL STUDENTS TO UNIVERSITY SCHOLARS -CONTRIBUTE TO THE ECONOMIC GROWTH OF THE CITY, COUNTY, AND REGION -PROVIDE AN ACCESSIBLE AND ATTRACTIVE VENUE FOR SOCIAL EVENTS, CONFERENCES, SEMINARS, AND OTHER ACTIVITIES THROUGH THE WITHERSPOON BUILDING, THE NEW HEADQUARTERS FOR THE LAURENS COUNTY MUSEUM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Clifford Cook Museum Direc | Officer | 40 | $60,000 |
Walter S Allen President | OfficerTrustee | 5 | $0 |
Sarah Jane Armstrong Director | Trustee | 0.5 | $0 |
Betty Beasley Director | Trustee | 0.5 | $0 |
Robbie Bell Director | Trustee | 0.5 | $0 |
Rhochun Ferguson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,140 |
| Fundraising events | $9,913 |
| Related organizations | $0 |
| Government grants | $156,280 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,232 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $231,565 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,491 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $252,074 |
| 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. | $60,000 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,866 |
| 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 | $9,638 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $278 |
| Office expenses | $10,421 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,884 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,258 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,379 |
| Insurance | $12,822 |
| All other expenses | $0 |
| Total functional expenses | $265,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $542,157 |
| Savings and temporary cash investments | $12 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,487,812 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,029,981 |
| Accounts payable and accrued expenses | $15,524 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,524 |
| Net assets without donor restrictions | $1,982,415 |
| Net assets with donor restrictions | $32,042 |
| 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 | $2,029,981 |