Florence Griswold Museum Inc
- Assets
- $34.2m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 39
- Location
- Old Lyme, CT
- Founding
- 04/1946
- Data as of
- 12/2022
- EIN
- 06-6062157
Organization Overview
Florence Griswold Museum Inc is located in Old Lyme, CT. The organization was established in 1946. 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 12/2022, Florence Griswold Museum Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florence Griswold 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 12/2022, Florence Griswold Museum Inc generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $4.4m during the year ending 12/2022. While expenses have increased by 5.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE UNDERSTANDING OF CONNECTICUT'S CONTRIBUTION TO AMERICAN ART AND HISTORY THROUGH PUBLIC EXHIBITIONS AND EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VISITOR SERVICES- OPERATION OF THE FLORENCE GRISWOLD MUSEUM, AN ACCREDITED MUSEUM OF AMERICAN ART & HISTORY, WITH A YEAR ROUND SCHEDULE OF PUBLIC EXHIBITIONS AND EDUCATIONAL PROGRAMS. THE NUMBER OF PEOPLE THAT WERE BENEFITED DURING THE YEAR TOTALED 30,576.
COLLECTIONS AND EXHIBITIONS- CURATORIAL CARE, CONSERVATION, ACQUISITION, AND PRESENTATION OF THE MUSEUM'S ART AND HISTORICAL COLLECTIONS.
EDUCATIONAL PROGRAMS- ART AND HISTORY PROGRAMS FOR THE PUBLIC. THE NUMBER OF PEOPLE THAT WERE BENEFITED DURING THE YEAR TOTALED 13,933.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Moore Board President | OfficerTrustee | 0.5 | $0 |
Lee Pritchard First Vice President | OfficerTrustee | 0.5 | $0 |
Jane Rapport Board Secretary | OfficerTrustee | 0.5 | $0 |
John E Noyes Board Member | OfficerTrustee | 0.5 | $0 |
Kay Knight Clarke Board Member, Treasurer Fe | OfficerTrustee | 0.5 | $0 |
Paul Holt Assistant Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $272,520 |
| Fundraising events | $75,900 |
| Related organizations | $0 |
| Government grants | $194,890 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,298,432 |
| Noncash contributions included in lines 1a–1f | $382,148 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,841,742 |
| Total Program Service Revenue | $378,358 |
| Investment income | $447,613 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $262,727 |
| Net Income from Fundraising Events | $75,816 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $198,831 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,205,087 |
| 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. | $211,733 |
| Compensation of current officers, directors, key employees. | $161,536 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,190,277 |
| Pension plan accruals and contributions | $28,271 |
| Other employee benefits | $99,047 |
| Payroll taxes | $87,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,742 |
| Fees for services: Accounting | $23,176 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,040 |
| Fees for services: Other | $825,386 |
| Advertising and promotion | $53,024 |
| Office expenses | $78,292 |
| Information technology | $41,456 |
| Royalties | $0 |
| Occupancy | $134,081 |
| Travel | $157,272 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,857 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $485,357 |
| Insurance | $59,747 |
| All other expenses | $66,696 |
| Total functional expenses | $4,393,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $506,406 |
| Savings and temporary cash investments | $516,438 |
| Pledges and grants receivable | $4,594,793 |
| 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 | $203,023 |
| Prepaid expenses and deferred charges | $121,123 |
| Net Land, buildings, and equipment | $6,436,538 |
| Investments—publicly traded securities | $21,731,421 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $126,868 |
| Total assets | $34,236,610 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $156,732 |
| 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 | $59,192 |
| Total liabilities | $215,924 |
| Net assets without donor restrictions | $20,826,614 |
| Net assets with donor restrictions | $13,194,072 |
| 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 | $34,236,610 |