Petersen Automotive Museum Foundation
- Assets
- $220.7m
- Revenue
- $25.1m
- Investments
- $0.0
- Employees
- 236
- Location
- Los Angeles, CA
- Founding
- 01/2000
- Data as of
- 12/2023
- 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 12/2023, Petersen Automotive Museum Foundation employed 236 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 12/2023, Petersen Automotive Museum Foundation generated $25.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $25.7m during the year ending 12/2023. While expenses have increased by 4.2% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EXPLORE AND PRESENT THE HISTORY OF THE AUTOMOBILE AND ITS IMPACT ON GLOBAL LIFE AND CULTURE.
Describe the Organization's Program Activity:
EXHIBITS PROGRAMS PRESENT THE MUSEUM AND ITS COLLECTION TO THE GENERAL PUBLIC. THIS INCLUDES THE DEVELOPMENT, PRODUCTION, AND IMPLEMENTATION OF PERMANENT AND ROTATING EXHIBITS, AS WELL AS THE DISSEMINATION OF MUSEUM CONTENT THROUGH ONLINE CHANNELS.
COLLECTIONS AND CURATORIAL PROGRAMS PROVIDE FOR THE ACQUISITION AND PRESERVATION OF COLLECTION OBJECTS THAT ADVANCE THE MISSION OF THE MUSEUM. THESE PROGRAMS INCLUDE THE MAINTENANCE AND RESTORATION OF COLLECTION VEHICLES AND OTHER OBJECTS. THE MUSEUM ALSO ACQUIRES, PRESERVES, AND ARCHIVES TWO DIMENSIONAL OBJECTIONS (PRINTED MATTER, PHOTOGRAPHS, DIAGRAMS, ETC.), BOOKS AND FILMS RELATED TO THE AUTOMOTIVE WORLD. CURATORIAL STAFF CONDUCT RESEARCH AND PRODUCE WRITTEN CONTENT THAT INTERPRET THESE OBJECTS FOR THE PUBLIC AS WELL AS FOR SCHOLARS.
EDUCATIONAL PROGRAMS INCLUDE MUSEUM ENDEAVORS TO EXPOSE AND TEACH CHILDREN AND ADULTS ABOUT THE AUTOMOBILE AND ITS IMPACT ON THE WORLD AND CULTURE. SIGNIFICANT PROGRAMS INCLUDE TOURS FOR SCHOOL CHILDREN IN SUPPORT OF THEIR CURRICULA, HANDS-ON TRAINING ON AUTOMOTIVE REPAIR AND CUSTOMIZATION FOR TEENS, DISPLAYING VEHICLES IN PUBLIC AUTOMOTIVE SHOWS, AS WELL AS PROVIDING SPEAKERS, FILMS, AND OTHER EXPERIENCES FOR ADULTS AND CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Karges Executive Director | Officer | 40 | $489,515 |
Michael Bodell Chief Operating Officer | Officer | 40 | $304,117 |
Bryan Stevens Exhibits Director | 40 | $149,709 | |
Luna Bondesan Marketing Director | 40 | $121,706 | |
John Yanez Controller | 40 | $129,058 | |
Sandra Landicho Chief Financial Officer (end 6/1/23) | Officer | 40 | $119,317 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Freddie George Production Group Exhibit Design And Production | 12/30/23 | $643,266 |
Samson Productions Llc Audiovisual Services | 12/30/23 | $395,096 |
Smart Cleaning Company Janitorial Services | 12/30/23 | $388,487 |
Contech Services Inc Structural Repair Svcs | 12/30/23 | $360,000 |
Town & Country Event Rentals Event Rentals | 12/30/23 | $348,105 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,929,370 |
| Fundraising events | $1,119,035 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,008,504 |
| Noncash contributions included in lines 1a–1f | $2,277,579 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,081,909 |
| Total Program Service Revenue | $8,396,980 |
| Investment income | $1,431,482 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,183,127 |
| Net Gain/Loss on Asset Sales | $219,216 |
| Net Income from Fundraising Events | -$609,569 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,372,520 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,097,609 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,946 |
| 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. | $989,278 |
| Compensation of current officers, directors, key employees. | $92,745 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,507,834 |
| Pension plan accruals and contributions | $153,715 |
| Other employee benefits | $832,739 |
| Payroll taxes | $689,282 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,454 |
| Fees for services: Accounting | $197,304 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $174,395 |
| Fees for services: Other | $517,662 |
| Advertising and promotion | $569,940 |
| Office expenses | $1,058,784 |
| Information technology | $118,075 |
| Royalties | $0 |
| Occupancy | $1,479,051 |
| Travel | $205,179 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,352,529 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,818,412 |
| Insurance | $595,211 |
| All other expenses | $469,766 |
| Total functional expenses | $25,688,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,612,211 |
| Savings and temporary cash investments | $2,591,321 |
| Pledges and grants receivable | $14,308,603 |
| 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 | $715,976 |
| Prepaid expenses and deferred charges | $201,427 |
| Net Land, buildings, and equipment | $122,540,810 |
| Investments—publicly traded securities | $52,571,791 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,170,510 |
| Total assets | $220,712,649 |
| Accounts payable and accrued expenses | $2,348,284 |
| Grants payable | $0 |
| Deferred revenue | $294,674 |
| Tax-exempt bond liabilities | $51,590,174 |
| 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 | $54,233,132 |
| Net assets without donor restrictions | $146,300,867 |
| Net assets with donor restrictions | $20,178,650 |
| 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 | $220,712,649 |
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 |
NATURAL HISTORY MUSEUM OF LOS ANGELES COUNTY PURPOSE: GENERAL ASSISTANCE | $12,000 |