Lace Museum Inc
- Assets
- $941.4k
- Revenue
- $162.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Fremont, CA
- Founding
- 09/1983
- Data as of
- 12/2023
- EIN
- 94-2776031
Organization Overview
Lace Museum Inc is located in Fremont, CA. The organization was established in 1983. According to its NTEE Classification (A54) the organization is classified as: History 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. Lace 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 12/2023, Lace Museum Inc generated $162.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $135.9k during the year ending 12/2023. While expenses have increased by 10.3% per year over the past 9 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
THE PRESERVATION AND DISPLAY OF LACE AND LACE MAKING TOOLS, OFFER INSTRUCTION IN ALL FACETS OF LACE MAKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE ORGANIZATION IS TO EDUCATE THE PUBLIC ABOUT THE HISTORY OF LACE AND LACE-MAKING ALONG WITH PRESENTING CURRENT TRENDS IN THE ART. THIS IS ACCOMPLISHED BY PRESERVING AND DISPLAYING LACE AND LACE-MAKING TOOLS, BY OFFERING CLASSES IN LACE-MAKING, MAKING LACE AND LACE MAKING TOOLS AVAILABLE FOR PURCHASE TO THE PUBLIC, THROUGH THE MUSEUM'S WEBSITE, CALENDAR AND IT'S NEWSLETTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Alger Chairman | OfficerTrustee | 25 | $0 |
Kim Davis Mg Director/sec | OfficerTrustee | 60 | $0 |
Francesca Miller-Moore Board Member | Trustee | 1 | $0 |
Donna Bennett Board Member | Trustee | 1 | $0 |
Paula Harten Board Member | Trustee | 1 | $0 |
Heather Norris Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,351 |
| Noncash contributions included in lines 1a–1f | $31,329 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,451 |
| Total Program Service Revenue | $78,860 |
| Investment income | $3,980 |
| 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 | $19,085 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,836 |
| 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 | $2,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,347 |
| Office expenses | $9,741 |
| Information technology | $2,597 |
| Royalties | $0 |
| Occupancy | $30,748 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $133 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,093 |
| All other expenses | $6,759 |
| Total functional expenses | $135,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,700 |
| Savings and temporary cash investments | $15,839 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $91,647 |
| Prepaid expenses and deferred charges | $2,500 |
| Net Land, buildings, and equipment | $19,101 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $184,820 |
| Intangible assets | $0 |
| Other assets | $615,042 |
| Total assets | $941,440 |
| Accounts payable and accrued expenses | $0 |
| 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 | $328 |
| Total liabilities | $328 |
| Net assets without donor restrictions | $941,112 |
| 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 | $941,440 |