Museum Of American Finance is located in New York, NY. The organization was established in 1992. 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 12/2023, Museum Of American Finance employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of American Finance 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, Museum Of American Finance generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.1%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (11.5%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE, EXHIBIT AND TEACH ABOUT THE NATION'S FINANCE AND FINANCIAL HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION AND EXHIBITION PROGRAMSIN 2023, THE MUSEUM SHOWCASED OBJECTS FROM ITS COLLECTIONS AT SEVERAL LOCATIONS AND COMPLETED THE FIRST PHASE OF A MAJOR INITIATIVE TO DIGITIZE ITS EXTENSIVE ARCHIVES. IN JANUARY, THE MUSEUM LOANED ONE OF THE HIGHLIGHTS OF ITS 18TH CENTURY COLLECTION TO THE US CAPITOL VISITOR CENTER IN WASHINGTON, DC, FOR AN EXHIBIT TITLED "E PLURIBUS UNUM: OUT OF MANY, ONE." THE EXHIBIT, WHICH WAS ON VIEW THROUGH JULY, FEATURED THE US BOND CERTIFICATE SIGNED BY PATRICK HENRY FOR $416.04 OF "ASSUMED DEBT," DATED NOVEMBER 1792. IN OCTOBER, THE MUSEUM DISPLAYED HIGHLIGHTS FROM ITS COLLECTION TO ATTENDEES OF THE INTERNATIONAL MONEY EXHIBITION IN NASHVILLE, TN, WHICH ATTRACTED THOUSANDS OF VISITORS FROM AROUND THE WORLD.ALSO IN 2023, THE MUSEUM AND ITS ARCHIVAL PRESERVATION PARTNER, HERITAGE WERKS, COMPLETED PHASE ONE OF THE WIDE-RANGING, MULTI-YEAR COLLECTION DIGITIZATION INITIATIVE, WHICH WAS MADE POSSIBLE THROUGH SUPPORT RECEIVED FROM PREVIOUS GALAS AND GENEROUS DONATIONS FROM MOAF BOARD MEMBERS. THE MOAF COLLECTION RELOCATED TO AN ARCHIVAL FACILITY IN GEORGIA, WHERE IT WAS PROCESSED, EVALUATED AND PRIORITIZED FOR HIGH RESOLUTION SCANNING AND META-TAGGING. MORE THAN 2,500 OF THE HIGHEST PRIORITY OBJECTS WERE SCANNED, WITH THE SCANNING PROCESS CONTINUING IN 2024. THIS INITIATIVE WILL MAKE THE COLLECTION MORE ACCESSIBLE FOR BOTH DIGITAL AND PHYSICAL EXHIBITIONS, INCLUDING THE MUSEUM'S OFFICIAL TRAVELING EXHIBIT, WHICH WILL BE AVAILABLE IN THE FIRST HALF OF 2024.
COMMUNITY OUTREACH AND EDUCATIONFINANCIAL EDUCATION IS AT THE HEART OF THE MUSEUM'S MISSION, AND MORE THAN 112,000 STUDENTS HAVE PARTICIPATED IN ITS EDUCATION PROGRAMS SINCE 2009. A HIGHLIGHT OF THE MUSEUM'S EDUCATIONAL INITIATIVES IS THE MUSEUM FINANCE ACADEMY (MFA), A UNIQUE PERSONAL FINANCE CERTIFICATE COURSE OFFERED FREE OF CHARGE TO HIGH SCHOOL JUNIORS AND SENIORS. THE PROGRAM WHICH IS CURRENTLY PRESENTED IN AN ONLINE FORMAT PROVIDES A FOUNDATION IN PERSONAL FINANCE. THIS PROGRAM IS OFFERED IN THE SPRING AND FALL, WITH THE OPPORTUNITY FOR THE TOP-ACHIEVING STUDENTS TO EARN PARTIAL COLLEGE SCHOLARSHIPS. THIS PAST JULY, THE MUSEUM EXPANDED THE MFA WITH A PILOT PROGRAM IN PARTNERSHIP WITH THE NEW YORK PUBLIC LIBRARY THAT REACHED 642 STUDENTS.THE MUSEUM ALSO OFFERS A ROBUST SERIES OF MORE THAN 30 PUBLIC EVENTS PER YEAR. AMONG THE DISTINGUISHED PARTICIPANTS ARE NOBEL LAUREATES AND INDUSTRY LEADERS, AS WELL AS AWARD-WINNING AUTHORS. MUCH OF THE MUSEUM'S PROGRAMMING SHIFTED TO A VIRTUAL FORMAT IN MARCH 2020, LEADING TO AN EXPANDED NUMBER OF EVENTS AND A FOUR-FOLD INCREASE IN ATTENDANCE. IN 2023, PROGRAMS WERE OFFERED IN BOTH IN-PERSON AND VIRTUAL FORMATS. FEATURED SPEAKERS INCLUDED DARON ACEMOGLU, ROB ARNOTT, ALAN BLINDER, DAVID BOOTH, LEON COOPERMAN, CHERYL STRAUSS EINHORN, EUGENE FAMA, MARIO GABELLI, DIANA HENRIQUES, EDMUND PHELPS, PULAK PRASAD, AMONG MANY OTHERS. THE MAJORITY OF THE MUSEUM'S PROGRAMS ARE PRESENTED IN PARTNERSHIP WITH THE FORDHAM UNIVERSITY GABELLI CENTER FOR GLOBAL SECURITY ANALYSIS. IN 2023, THE MUSEUM ALSO CONTINUED ITS PARTNERSHIP WITH THE NEW YORK PUBLIC LIBRARY'S THOMAS YOSELOFF BUSINESS CENTER ON A FREE FINANCIAL EDUCATION SERIES FOR ADULTS, TITLED "INVESTING A TO Z," AS WELL AS A FREE SERIES ON RETIREMENT PLANNING, TITLED "RETIREMENT A TO Z." BOTH OF THESE PROGRAMS ATTRACTED LARGE NATIONAL AND INTERNATIONAL AUDIENCES IN 2023 WITH MORE THAN 5,000 TOTAL PARTICIPANTS AND CONTINUE IN 2024.
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter A Cohen Chair | OfficerTrustee | 1 | $0 |
Andrea DE Cholnoky Co-Vice Chair | OfficerTrustee | 1 | $0 |
Karen Seitz Co-Vice Chair | OfficerTrustee | 1 | $0 |
Sanford F Crystal Treasurer | OfficerTrustee | 1 | $0 |
Alvi Abuaf Trustee | Trustee | 1 | $0 |
Peter Akwaboah Trustee | Trustee | 1 | $0 |
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,888 |
| Fundraising events | $1,089,528 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $426,578 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,517,994 |
| Total Program Service Revenue | $3,870 |
| Investment income | $3,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$115,280 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,410,380 |
| 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. | $217,539 |
| Compensation of current officers, directors, key employees. | $21,754 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $726,115 |
| Pension plan accruals and contributions | $9,879 |
| Other employee benefits | $216,301 |
| Payroll taxes | $67,031 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $67,449 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,381 |
| Advertising and promotion | $32,756 |
| Office expenses | $34,774 |
| Information technology | $35,723 |
| Royalties | $0 |
| Occupancy | $67,523 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,093 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $42,374 |
| All other expenses | $0 |
| Total functional expenses | $1,649,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,145 |
| Savings and temporary cash investments | $29,778 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,050 |
| 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 | $158,211 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $463,184 |
| Accounts payable and accrued expenses | $257,445 |
| Grants payable | $0 |
| Deferred revenue | $252,132 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $25,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $534,577 |
| Net assets without donor restrictions | -$310,643 |
| Net assets with donor restrictions | $239,250 |
| 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 | $463,184 |