Westerly American Impressionist Museum Foundation
- Assets
- $2.0m
- Revenue
- $1.6m
- Investments
- $644.6k
- Employees
- 0
- Location
- Westerly, RI
- Founding
- Data as of
- 12/2022
- EIN
- 86-2943815
Organization Overview
Westerly American Impressionist Museum Foundation is located in Westerly, RI. 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. Westerly American Impressionist Museum Foundation 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, Westerly American Impressionist Museum Foundation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 67.9% each year . All expenses for the organization totaled $54.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION CONTINUED THE CONSTRUCTION OF ITS MUSEUM BUILDING WHICH WILL ALLOW FOR VIEWING OF ART BY AMERICAN IMPRESSIONIST PAINTERS FROM ROUGHLY 1880-1920. ONCE COMPLETED, DOCENTS WILL BE AVAILABLE TO EDUCATE VISITORS AND LITERATURE WILL BE AVAILABLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas P Sculco President | 10 | $0 | |
Cynthia D Sculco Treasurer | 20 | $0 | |
Sarah Jane Gibbons Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,550,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,550,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,593 |
| Depreciation | $0 |
| Occupancy | $6,373 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,054 |
| Total operating and administrative expenses | $54,887 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $54,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $502,924 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $434 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $644,575 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $895,316 |
| Total assets | $2,043,249 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |