Icon Museum And Study Center Inc
- Assets
- $24.6m
- Revenue
- $924.0k
- Investments
- $16.3m
- Employees
- 0
- Location
- Clinton, MA
- Founding
- 04/2006
- Data as of
- 12/2023
- EIN
- 20-1992304
Organization Overview
Icon Museum And Study Center Inc is located in Clinton, MA. The organization was established in 2006. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icon Museum And Study Center 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, Icon Museum And Study Center Inc generated $924.0k 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 (5.7%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM ILLUMINATES THE ART OF THE SACRED ICON FOR A GLOBAL AUDIENCE. THE MUSEUM SERVES AS A LEADING CENTER FOR DIALOGUE ON ICONS AS A DIVERSE AND LIVING TRADITION. THE MUSEUM INSPIRES LEARNING AND UNDERSTANDING THROUGH INNOVATIVE EXHIBITIONS, PROGRAMS, AND SCHOLARSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Boris Levin Director | 1 | $0 | |
Ted Lapres Treasurer | 1 | $0 | |
Eric Brose Director | 1 | $0 | |
Dr Svetlana Nikitina Director | 1 | $0 | |
Peter Rand Director | 1 | $0 | |
Kent Russell Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Atomic Design | 12/30/14 | $161,926 |
Th Smith Building & Remodeling | 12/30/14 | $216,037 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $244,137 |
| Interest on Savings | $0 |
| Dividends & Interest | $570,013 |
| Net Rental Income | $3,555 |
| Net Gain on Sale of Assets | -$34,261 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $32,032 |
| Other Income | $106,125 |
| Total Revenue | $924,046 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $206,638 |
| Other employee salaries and wages | $262,156 |
| Pension plans, employee benefits | $69,804 |
| Interest | $0 |
| Taxes | $17,191 |
| Depreciation | $284,873 |
| Occupancy | $215,839 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $2,499 |
| Other expenses | $326,669 |
| Total operating and administrative expenses | $1,542,947 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,542,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,713 |
| Savings and temporary cash investments | $1,102,479 |
| Net Accounts receivable | $7,745 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $43,641 |
| Prepaid expenses and deferred charges | $24,334 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $6,801,801 |
| Other assets | $66,643 |
| Total assets | $24,550,084 |
| Accounts payable and accrued expenses | $16,948 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $16,571 |
| Total liabilities | $33,519 |