Bruce Museum Inc
- Assets
- $42.0m
- Revenue
- $8.1m
- Investments
- $3.7m
- Employees
- 53
- Location
- Greenwich, CT
- Founding
- 01/1971
- Data as of
- 06/2020
- EIN
- 23-7105904
Organization Overview
Bruce Museum Inc is located in Greenwich, CT. The organization was established in 1971. 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 06/2021, Bruce Museum Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bruce 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 06/2020, Bruce Museum Inc generated $8.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $5.1m during the year ending 06/2020. 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 BRUCE MUSEUM'S EXHIBITIONS AND EDUCATIONAL PROGRAMS ADVANCE THE UNDERSTANDING OF ART AND SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BRUCE MUSEUM OFFERED A VARIETY ART AND SCIENCE EXHIBITIONS IN 2020-2021 THAT EDUCATED AND ENGAGED OUR DIVERSE, COMMUNITY AUDIENCE. EACH EXHIBITION FEATURED WORLD-CLASS ART, OBJECTS AND ARTIFACTS THAT FOCUSED ON THE NEEDS AND INTERESTS OF OUR VISITORS AND OUR SURROUNDING COMMUNITY. SEE SCHEDULE O FOR A LIST OF THE EXHIBITIONS THAT TOOK PLACE IN 2020-2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Wolterstorff Executive Director/ceo | Officer | 35 | $265,000 |
Whitney Rosenberg Director Of Development | 35 | $145,000 | |
William F Ference Director Of Finance/cfo | Officer | 35 | $137,840 |
Suzanne Lio COO And Managing Director | 35 | $132,440 | |
Peter Sutton Former Executive Director/ceo | 0 | $128,735 | |
Anne Von Stuelpnagel Director Of Exhibitions | 35 | $119,633 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Turner Construction Construction Services | 6/29/21 | $3,168,774 |
Eskew Dumez Ripple Architectural Services | 6/29/21 | $805,293 |
Universal Services Associates Inc Construction Services | 6/29/21 | $179,340 |
Stone Harbor Project Advisors Project Management | 6/29/21 | $138,800 |
Nst Systems Inc It Services | 6/29/21 | $132,604 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,074,312 |
| Investment income | $897,022 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,867 |
| Net Gain/Loss on Asset Sales | -$80,867 |
| Net Income from Fundraising Events | -$1,224 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $78,039 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,121,476 |
| 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. | $531,106 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,149,224 |
| Pension plan accruals and contributions | $93,409 |
| Other employee benefits | $380,722 |
| Payroll taxes | $221,620 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,795 |
| Fees for services: Accounting | $47,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $120,000 |
| Fees for services: Investment Management | $41,842 |
| Fees for services: Other | $123,375 |
| Advertising and promotion | $60,933 |
| Office expenses | $374,106 |
| Information technology | $139,581 |
| Royalties | $0 |
| Occupancy | $98,037 |
| Travel | $134,274 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,938 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $273,685 |
| Insurance | $31,623 |
| All other expenses | $0 |
| Total functional expenses | $5,133,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,564 |
| Savings and temporary cash investments | $5,686,865 |
| Pledges and grants receivable | $1,203,675 |
| 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 | $54,902 |
| Prepaid expenses and deferred charges | $153,274 |
| Investments—publicly traded securities | $21,422,577 |
| Investments—other securities | $3,725,254 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,192,505 |
| Total assets | $42,027,905 |
| Accounts payable and accrued expenses | $1,027,920 |
| Grants payable | $0 |
| Deferred revenue | $167,673 |
| 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 | $537,600 |
| Total liabilities | $1,733,193 |
| 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 | $40,294,712 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Bruce Museum Inc has recieved totaling $9,000.
| Awarding Organization | Amount |
|---|---|
Russell Colgate Fund Inc Wilmington, DE PURPOSE: GENERAL PURPOSES | $5,000 |
Scrivan Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $4,000 |
Endowment Analysis
| Beg. Balance | $24,304,684 |
| Earnings | $11,141,753 |
| Net Contributions | $242,150 |
| Other Expense | $1,218,241 |
| Ending Balance | $34,470,346 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
National Museum Of Mathematics New York, NY | $42,218,242 | $9,885,068 |
Bruce Museum Inc Greenwich, CT | $42,027,905 | $8,121,476 |
Brant Foundation Inc Greenwich, CT | $0 | $5,637,610 |
Amigos Del Museo Del Barrio New York, NY | $18,789,462 | $15,193,674 |