Petersen Automotive Museum Foundation
- Assets
- $222.7m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 194
- Location
- Los Angeles, CA
- Founding
- 01/2000
- Data as of
- 12/2021
- EIN
- 95-4739699
Organization Overview
Petersen Automotive Museum Foundation is located in Los Angeles, CA. The organization was established in 2000. 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 12/2021, Petersen Automotive Museum Foundation employed 194 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petersen Automotive 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 12/2021, Petersen Automotive Museum Foundation generated $7.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO THE EXPLORATION AND PRESENTATION OF THE AUTOMOBILE AND ITS IMPACT ON GLOBAL LIFE.THE ORGANIZATION CHANGED THE YEAR END TO 12/31 FROM A 9/30 YEAR END.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Karges Executive Director | Officer | 40 | $512,833 |
Michael Bodell Chief Operating Officer | Officer | 40 | $272,482 |
Eitan Ginsburg Chief Financial Officer | Officer | 40 | $220,055 |
Bryan Stevens Exhibits Director | 40 | $129,749 | |
Bruce Meyer Vice-Chair/director | OfficerTrustee | 2 | $0 |
Richard Varner Chairman/director | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rayzman Event Group Event Planner | 9/29/19 | $534,687 |
Drago Culinary Producions Catering | 9/29/19 | $393,633 |
Smart Cleaning Company Cleaning | 9/29/19 | $321,943 |
Freddie George Production Group Marketing | 9/29/19 | $282,442 |
The Scenic Route Construction & Fabrication | 9/29/19 | $265,958 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $555,957 |
| Fundraising events | $800,130 |
| Related organizations | $0 |
| Government grants | $1,304,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,263,751 |
| Noncash contributions included in lines 1a–1f | $589,849 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,924,238 |
| Total Program Service Revenue | $1,357,530 |
| Investment income | $811,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $449,101 |
| Net Gain/Loss on Asset Sales | -$60,770 |
| Net Income from Fundraising Events | $119,409 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $246,373 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,730,255 |
| 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. | $313,769 |
| Compensation of current officers, directors, key employees. | $175,111 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,488,791 |
| Pension plan accruals and contributions | $27,147 |
| Other employee benefits | $202,620 |
| Payroll taxes | $129,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,056 |
| Fees for services: Accounting | $2,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,200 |
| Fees for services: Other | $31,984 |
| Advertising and promotion | $193,252 |
| Office expenses | $23,910 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $314,756 |
| Travel | $20,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,173,811 |
| Insurance | $147,161 |
| All other expenses | $65,361 |
| Total functional expenses | $5,324,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,989,627 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,391,121 |
| Accounts receivable, net | $84,568 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $307,010 |
| Prepaid expenses and deferred charges | $223,844 |
| Net Land, buildings, and equipment | $129,192,926 |
| Investments—publicly traded securities | $58,146,511 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,352,046 |
| Total assets | $222,687,653 |
| Accounts payable and accrued expenses | $1,113,207 |
| Grants payable | $0 |
| Deferred revenue | $304,271 |
| Tax-exempt bond liabilities | $54,223,165 |
| 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 | $55,640,643 |
| Net assets without donor restrictions | $148,412,368 |
| Net assets with donor restrictions | $18,634,642 |
| 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 | $222,687,653 |
Grants Awarded
Over the last fiscal year, Petersen Automotive Museum Foundation has awarded $162,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE HENRY FORD PURPOSE: GENERAL ASSISTANCE | $150,000 |
Los Angeles, CA PURPOSE: GENERAL ASSISTANCE | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Petersen Automotive Museum Foundation has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Peter W Mullin Family Charitable Foundation Oxnard, CA PURPOSE: SUPPORT THE MUSEUM FOUNDATION | $30,000 |
Endowment Analysis
| Beg. Balance | $47,528,188 |
| Earnings | $2,238,214 |
| Net Contributions | $65,000 |
| Other Expense | $472,161 |
| Ending Balance | $49,359,241 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Uss Midway Museum San Diego, CA | $89,557,357 | $9,957,373 |
Lucas Museum Of Narrative Art Los Angeles, CA | $1,047,180,873 | $200,315,657 |
Musical Instrument Museum Phoenix, AZ | $166,967,307 | $47,583,205 |
Operation Underground Railroad Inc Anaheim, CA | $68,076,312 | $47,549,013 |
Discovery Science Center Of Orange County Santa Ana, CA | $60,809,996 | $26,194,294 |
Grammy Museum Foundation Inc Los Angeles, CA | $19,726,049 | $9,757,476 |
Japanese American National Museum Los Angeles, CA | $64,155,556 | $8,326,332 |
Mingei International Inc San Diego, CA | $66,923,986 | $7,226,145 |
Heard Museum Phoenix, AZ | $36,442,009 | $14,120,125 |
Turtle Bay Exploration Park Redding, CA | $48,250,618 | $8,223,185 |
Palm Springs Art Museum Palm Springs, CA | $40,212,131 | $11,070,079 |
Safari Game Search Foundation Winston, OR | $11,893,690 | $8,001,628 |