American Clock & Watch Museum Inc
- Assets
- $3.5m
- Revenue
- $385.5k
- Investments
- $2.9m
- Employees
- 7
- Location
- Bristol, CT
- Founding
- 03/1954
- Data as of
- 12/2020
- EIN
- 06-6006559
Organization Overview
American Clock & Watch Museum Inc is located in Bristol, CT. The organization was established in 1954. 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, American Clock & Watch Museum Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Clock & Watch 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 12/2020, American Clock & Watch Museum Inc generated $385.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $269.2k during the year ending 12/2020. While expenses have increased by 6.0% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE AMERICAN CLOCK & WATCH MUSEUM CELEBRATES THE INNOVATION AND ARTISTRY OF THE CLOCK AND WATCH INDUSTRIES THROUGH UNIQUE COLLECTIONS THAT ENGAGE, EDUCATE AND ENRICH ITS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM WAS OPEN 255 DAYS IN 2021 (JANUARY - DECEMBER: WEDNESDAYS THROUGH SUNDAYS FROM 10AM TO 3PM, OTHER HOURS BY APPOINTMENT.) DURING THIS TIME, WE HAD 2,389 VISITORS FROM 39 STATES AND WASHINGTON DC AND 7 DIFFERENT COUNTRIES. WE CONTINUED TO HAVE LIMITED IN-PERSON PUBLIC PROGRAMS, TOURS, AND EVENTS THROUGHOUT THE YEAR DUE TO THE COVID-19 PANDEMIC AND THE LIMITATIONS THAT WERE PLACED ON PUBLIC GATHERINGS BECAUSE OF IT.
THE ACWM MAINTAINS A COLLECTION OF OVER 2,500 CLOCKS AND 3,500 WATCHES, PLUS EPHEMERA AND ARCHIVAL MATERIAL THAT SUPPORT THE MUSEUM'S MISSION. IN 2021, WE ADDED 12 PIECES TO THE COLLECTION THROUGH DONATIONS AND PURCHASES.
GIFT SHOP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patti Philippon Executive Di | Officer | 40 | $82,585 |
Andrea Adams Secretary | OfficerTrustee | 1 | $0 |
Kim Bondeson-Ciccarello President | OfficerTrustee | 1 | $0 |
Dennis Lange Vice Preside | OfficerTrustee | 1 | $0 |
Michael Nicastro Treasurer | OfficerTrustee | 1 | $0 |
Brendan Sullivan Past-Preside | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,985 |
| Investment income | $49,995 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $82,014 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,188 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $385,516 |
| Statement of Expenses | |
|---|---|
| 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. | $75,085 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,240 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,268 |
| Payroll taxes | $10,352 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,317 |
| Advertising and promotion | $210 |
| Office expenses | $2,539 |
| Information technology | $1,693 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $30 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $552 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,092 |
| Insurance | $23,458 |
| All other expenses | $0 |
| Total functional expenses | $269,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,383 |
| 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 | $9,290 |
| Prepaid expenses and deferred charges | $4,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,920,702 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,456,167 |
| Accounts payable and accrued expenses | $11,698 |
| 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 | $31,282 |
| Total liabilities | $42,980 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $3,413,187 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that American Clock & Watch Museum Inc has recieved totaling $35,009.
| Awarding Organization | Amount |
|---|---|
Main Street Community Foundation Bristol, CT PURPOSE: GENERAL/PROGRAM/UNRESTRICTED OPERATING SUPPORT COVID-19 | $17,542 |
Connecticut Community Foundation Inc Waterbury, CT PURPOSE: FOR GENERAL PURPOSES | $7,977 |
Harry F Barnes And Carol H Barnes Ffamily Foundation Inc Bristol, CT PURPOSE: GRANT TO CHARITABLE ORGANIZATION | $5,000 |
American Savings Foundation Inc New Britain, CT PURPOSE: COMMUNITY GRANTS - CONNECTICUT CLOCKMAKING EXHIBIT IMPROVEMENTS | $2,310 |
Thomston Savings Bank Foundation Inc Thomaston, CT PURPOSE: TO FUND THE PURCHASE THE INSTALLATION OF (6) INTERIOR STORM WINDOWS WITH UV PROTECTION IN THE EBENEZER BARNES MEMORIAL WING. | $2,133 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $47 |
Endowment Analysis
| Beg. Balance | $2,820,702 |
| Earnings | $632,081 |
| Other Expense | $69,764 |
| Ending Balance | $3,383,019 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
The Corning Museum Of Glass Corning, NY | $73,662,076 | $31,481,253 |
Intrepid Museum Foundation Inc New York, NY | $107,274,514 | $23,304,017 |
Jewish Museum New York, NY | $170,221,432 | $22,874,963 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |
The Maritime Aquarium At Norwalk Inc South Norwalk, CT | $19,089,489 | $11,308,442 |
George Eastman Museum Rochester, NY | $59,825,841 | $12,306,953 |
Naismith Memorial Basketball Hall Of Fame Inc 1150 West Columbus Ave Springfield, MA | $33,159,743 | $5,379,532 |