Sloss Furnaces Foundation Inc
- Assets
- $85.6k
- Revenue
- $322.9k
- Investments
- $0.0
- Employees
- 20
- Location
- Birmingham, AL
- Founding
- 03/2003
- Data as of
- 12/2020
- EIN
- 95-4895476
Organization Overview
Sloss Furnaces Foundation Inc is located in Birmingham, AL. The organization was established in 2003. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2020, Sloss Furnaces Foundation Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sloss Furnaces Foundation 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 12/2020, Sloss Furnaces Foundation Inc generated $322.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $338.0k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SLOSS FURNACES IS A 20TH CENTURY IRON FURNACE NOW INTERPRETED AS A MUSEUM OF THE INDUSTRIAL HISTORY OF BIRMINGHAM, ALABAMA. SLOSS FURNACES FOUNDATION WORKS TO FOSTER THE PRESERVATION AND DEVELOPMENT OF THE SLOSS FURNACES SITE THROUGH EDUCATIONAL, ARTS, AND RESEARCH INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE INDIVIDUALS THROUGH THE PRESERVATION AND DEVELOPMENT OF THE ONLY TWENTIETH CENTURY BLAST FURNACE OF ITS KIND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Takeria Stephens Member | OfficerTrustee | 1 | $0 |
Steven Reider President And Treasurer | OfficerTrustee | 5 | $0 |
Mike Keel Member | Trustee | 1 | $0 |
Robin Wade III Member | Trustee | 1 | $0 |
Gaile Gratton Member | Trustee | 1 | $0 |
Brandon Wilson Vice President | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,002 |
| Total Program Service Revenue | $152,437 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $322,939 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $206,101 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,846 |
| Advertising and promotion | $1,450 |
| Office expenses | $7,566 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,531 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $801 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $527 |
| Insurance | $12,076 |
| All other expenses | $1,346 |
| Total functional expenses | $337,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,035 |
| Savings and temporary cash investments | $0 |
| 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 | $5,555 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $85,590 |
| Accounts payable and accrued expenses | $9,326 |
| 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 | $50,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $59,326 |
| Net assets without donor restrictions | $26,264 |
| 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 | $85,590 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Sloss Furnaces Foundation Inc has recieved totaling $46,500.
| Awarding Organization | Amount |
|---|---|
Jones Family Fund Birmingham, AL PURPOSE: FOR PRESERVATION AND DEVELOPMENT OF 20TH CENTURY BLAST FURNACE | $30,500 |
The Community Foundation Of Greater Birmingham Birmingham, AL PURPOSE: GENERAL SUPPORT | $11,000 |
Protective Life Foundations Birmingham, AL PURPOSE: ANNUAL IACP AWARD EVENT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lorraine Civil Rights Museum Foundation Memphis, TN | $35,843,207 | $14,748,460 |
The National Museum Of African American Music Nashville, TN | $43,131,276 | $9,233,015 |
National Infantry Museum Foundation Inc Columbus, GA | $75,263,880 | $5,605,336 |
Henry Morrison Flagler Museum Palm Beach, FL | $63,121,691 | $4,765,672 |
Historical Association Of Southern Florida Inc Miami, FL | $4,170,200 | $3,833,962 |
Florida Holocaust Museum Inc St Petersburg, FL | $6,471,703 | $3,220,795 |
St Augustine Lighthouse & Maritime Museum Inc Saint Augustine, FL | $6,521,175 | $4,691,684 |
Soulsville Memphis, TN | $9,455,990 | $2,725,171 |
Burritt Museum Association Inc Huntsville, AL | $1,905,996 | $2,510,115 |
Loxahatchee River Historical Society Inc Jupiter, FL | $984,899 | $1,767,468 |
Clarksville-Montgomery County Museum Clarksville, TN | $4,515,157 | $1,658,214 |
Florida Railroad Museum Inc Parrish, FL | $3,860,915 | $2,530,621 |