Florence Griswold Museum Inc
- Assets
- $32.3m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 25
- Location
- Old Lyme, CT
- Founding
- 04/1946
- Data as of
- 12/2021
- 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 12/2021, Florence Griswold Museum Inc employed 25 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 12/2021, Florence Griswold Museum Inc generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. 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
2021
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 23,431.
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 12,427.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebekah Beaulieu Director | Officer | 40 | $160,930 |
Matt Strekel Director Of Development | 40 | $108,807 | |
David Rau Director Of Education & Outreach | 40 | $107,801 | |
Wilfred Cote Director Of Finance | Officer | 40 | $93,445 |
Paul Holt Assistant Treasurer | OfficerTrustee | 0.5 | $0 |
Kevin Mcglinchey Board Counsel | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $272,516 |
| Fundraising events | $12,212 |
| Related organizations | $0 |
| Government grants | $442,238 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,038,247 |
| Noncash contributions included in lines 1a–1f | $47,555 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,765,213 |
| Total Program Service Revenue | $279,688 |
| Investment income | $417,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $154,195 |
| Net Income from Fundraising Events | $133,623 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $124,351 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,875,061 |
| 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. | $282,742 |
| Compensation of current officers, directors, key employees. | $210,790 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,025,568 |
| Pension plan accruals and contributions | $33,413 |
| Other employee benefits | $100,914 |
| Payroll taxes | $103,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,837 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,794 |
| Fees for services: Other | $96,732 |
| Advertising and promotion | $46,936 |
| Office expenses | $57,709 |
| Information technology | $97,999 |
| Royalties | $0 |
| Occupancy | $115,565 |
| Travel | $45,515 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $481,714 |
| Insurance | $64,191 |
| All other expenses | $62,431 |
| Total functional expenses | $3,334,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $296,324 |
| Savings and temporary cash investments | $661,891 |
| 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 | $136,981 |
| Prepaid expenses and deferred charges | $119,255 |
| Net Land, buildings, and equipment | $6,930,155 |
| Investments—publicly traded securities | $24,003,251 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,921 |
| Total assets | $32,307,778 |
| Accounts payable and accrued expenses | $51,569 |
| Grants payable | $0 |
| Deferred revenue | $170,887 |
| 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 | $85,804 |
| Total liabilities | $308,260 |
| Net assets without donor restrictions | $25,739,955 |
| Net assets with donor restrictions | $6,259,563 |
| 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 | $32,307,778 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Florence Griswold Museum Inc has recieved totaling $11,700.
| Awarding Organization | Amount |
|---|---|
Roger J & Madeline Traynor Foundation New York, NY PURPOSE: EDUCATIONAL SCHOLARSHIPS | $5,000 |
Niblack Foundation Westport, CT PURPOSE: UNRESTRICTED GRANT | $5,000 |
Karen Katen Foundation Westport, CT PURPOSE: UNRESTRICTEDGRANT | $1,500 |
Konstantin Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $200 |
Endowment Analysis
| Beg. Balance | $21,456,145 |
| Earnings | $3,261,965 |
| Admin Expense | $20,790 |
| Other Expense | $626,026 |
| Ending Balance | $24,071,294 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hamilton-Madison House Inc New York, NY | $11,830,050 | $17,173,913 |
Buffalo Olmsted Parks Conservancy Inc Buffalo, NY | $5,280,478 | $5,712,316 |
New York Landmarks Conservancy Inc New York, NY | $20,181,669 | $5,556,998 |
Marthas Vineyard Museum Inc Vineyard Haven, MA | $28,426,122 | $2,586,449 |
Florence Griswold Museum Inc Old Lyme, CT | $32,307,778 | $2,875,061 |
Sakonnet Preservation Assoc Inc Little Compton, RI | $7,767,895 | $3,666,448 |
Mattatuck Historical Society Waterbury, CT | $30,372,011 | $3,496,557 |
Edith Wharton Restoration Inc Lenox, MA | $18,245,381 | $3,306,294 |
Rhode Island Historical Society Providence, RI | $30,696,643 | $3,629,513 |
Galvan Initiatives Foundation New York, NY | $45,061,487 | $6,375,160 |
Concord Antiquarian Society Concord, MA | $23,141,155 | $2,972,281 |
Greenwich Historical Society Inc Cos Cob, CT | $25,626,567 | $1,529,771 |