Marthas Vineyard Museum Inc
- Assets
- $28.7m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 24
- Location
- Vineyard Haven, MA
- Founding
- 11/1981
- Data as of
- 12/2023
- EIN
- 04-2160642
Organization Overview
Marthas Vineyard Museum Inc is located in Vineyard Haven, MA. The organization was established in 1981. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Marthas Vineyard Museum Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marthas Vineyard 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, Marthas Vineyard Museum Inc generated $7.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $4.1m during the year ending 12/2023. While expenses have increased by 10.4% 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 MARTHA'S VINEYARD MUSEUM INSPIRES ALL PEOPLE TO DISCOVER, EXPLORE, AND STRENGTHEN THEIR CONNECTIONS TO THIS ISLAND AND ITS DIVERSE HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS, PROGRAMS, EVENTS, AND RESEARCH LIBRARY FOCUSING ON MARTHA'S VINEYARD HISTORY AND CULTURE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Weiss Chair | OfficerTrustee | 2 | $0 |
David Grain Vice Chair | OfficerTrustee | 2 | $0 |
Alison Shaw Secretary | OfficerTrustee | 2 | $0 |
Gordon Cromwell Treasurer | OfficerTrustee | 2 | $0 |
Jeb Blatt Director | Trustee | 2 | $0 |
Jonathan Blum Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Consigli Construction Co Construction Project | 12/30/19 | $1,134,629 |
Lew French Garden Design & Installation | 12/30/19 | $400,000 |
Landscope Landscape Construction Landscape Construction | 12/30/19 | $263,500 |
International Chimney Corporation Lighthouse Restoration | 12/30/19 | $198,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $244,680 |
| Fundraising events | $425,030 |
| Related organizations | $0 |
| Government grants | $75,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,740,786 |
| Noncash contributions included in lines 1a–1f | $3,355 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,485,496 |
| Total Program Service Revenue | $280,800 |
| Investment income | $134,456 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $188,125 |
| Net Gain/Loss on Asset Sales | $8,851 |
| Net Income from Fundraising Events | -$139,414 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $25,352 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,983,666 |
| 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. | $162,462 |
| Compensation of current officers, directors, key employees. | $56,868 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,043,289 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $117,106 |
| Payroll taxes | $101,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,898 |
| Fees for services: Accounting | $18,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $287,170 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,638 |
| Advertising and promotion | $42,857 |
| Office expenses | $35,133 |
| Information technology | $71,270 |
| Royalties | $0 |
| Occupancy | $341,725 |
| Travel | $2,299 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $212,784 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,007,655 |
| Insurance | $107,358 |
| All other expenses | $72,949 |
| Total functional expenses | $4,126,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,595,085 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,720,088 |
| 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 | $50,181 |
| Prepaid expenses and deferred charges | $9,708 |
| Net Land, buildings, and equipment | $20,597,438 |
| Investments—publicly traded securities | $2,757,662 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,730,162 |
| Accounts payable and accrued expenses | $226,178 |
| 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 | $5,282,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,508,678 |
| Net assets without donor restrictions | $16,697,340 |
| Net assets with donor restrictions | $6,524,144 |
| 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 | $28,730,162 |