Runestone Museum Foundation
- Assets
- $701.5k
- Revenue
- $163.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Alexandria, MN
- Founding
- 04/1982
- Data as of
- 12/2021
- EIN
- 23-7391175
Organization Overview
Runestone Museum Foundation is located in Alexandria, MN. The organization was established in 1982. 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 12/2021, Runestone Museum Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Runestone Museum Foundation 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, Runestone Museum Foundation generated $163.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $108.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
INFORM OUR FUTURE BY PRESERVING OUR PAST WHILE INSPIRING CURIOSITY ABOUT REGIONAL HISTORY AND HERITAGE THROUGH COMMUNITY ENGAGEMENT AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE MUSEUM HAD RECORD ATTENDANCE AND COMMUNITY INVOLVEMENT FOR THEIR ANNUAL CHRISTMAS IN THE FORT EVENT. THE WEB BASED EDUCATION PROGRAM HISTORY AT HOME, IN COLLABORATION WITH OTHER LOCAL MUSEUMS AND THE COMMUNITY EDUCATION FOUNDATION, OFFERED NINE CLASSES WITH INCREASED ATTENDANCE OVER THE PAST YEAR. THE MUSEUM CONTINUES ITS MONTHLY 60 MINUTE RADIO PROGRAM WHICH DISCUSSES CURRENT EXHIBITS AND UPCOMING EVENTS AT THE MUSEUM IN THE COMMUNITY. IN 2021, THE MUSEUM ESTABLISHED A BIOLOGY LAB IN CONJUNCTION WITH THE LOCAL COLLEGE. THE MUSEUMS VOLUNTEER BASE ALSO EXPANDED IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Seim Executive Director | 40 | $51,076 | |
Bill Meyer President | OfficerTrustee | $0 | |
Chad Meyer Vice President | OfficerTrustee | $0 | |
Sally Smith Treasurer | OfficerTrustee | $0 | |
Nikki Schabel Secretary | OfficerTrustee | $0 | |
Sarah Reif Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,700 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,791 |
| Total Program Service Revenue | $55,650 |
| Investment income | $698 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,273 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $47,589 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $163,001 |
| 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. | $27,592 |
| Compensation of current officers, directors, key employees. | $11,037 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,276 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,566 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,788 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,272 |
| Office expenses | $2,220 |
| Information technology | $2,340 |
| Royalties | $0 |
| Occupancy | $23,548 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $280 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,038 |
| Insurance | $8,296 |
| All other expenses | $189 |
| Total functional expenses | $108,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $701 |
| Savings and temporary cash investments | $164,511 |
| 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 | $55,175 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $453,677 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,425 |
| Total assets | $701,489 |
| Accounts payable and accrued expenses | $5,622 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $74,316 |
| Total liabilities | $79,938 |
| Net assets without donor restrictions | $621,551 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $701,489 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Runestone Museum Foundation has recieved totaling $45,577.
| Awarding Organization | Amount |
|---|---|
Driscoll Foundation St Paul, MN PURPOSE: THE BLANKET AND STICKER GRANT ($15,000) AND TRAVELING EXHIBIT OF A REPRODUCTION STONE AND INTERPRETIVE MATERIALS ($20,000) | $35,000 |
Driscoll Foundation St Paul, MN PURPOSE: STAGECOACH STOP (WIRE FRAME 2-D SCULPTURE) | $10,000 |
Anderson Family Foundation Wichita, KS PURPOSE: OPERATING FUND FOR OTHER PUBLIC CHARITY | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $77 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
Historic Arnolds Park Inc Arnolds Park, IA | $45,905,371 | $12,228,274 |
National Czech & Slovak Museum & Library Cedar Rapids, IA | $33,480,949 | $3,909,322 |
Vesterheim Norwegian American Museum Decorah, IA | $24,953,272 | $7,187,886 |
Leigh Yawkey Woodson Art Museum Inc Wausau, WI | $54,767,608 | $3,707,378 |
Danish Immigrant Museum Elk Horn, IA | $10,787,918 | $1,977,649 |
National Railroad Museum Inc Green Bay, WI | $10,947,980 | $3,836,753 |
Door County Maritime Museum & Lighthouse Preservation Society In Sturgeon Bay, WI | $12,430,907 | $3,874,583 |
Wisconsin Maritime Museum Inc Manitowoc, WI | $5,537,448 | $1,354,482 |
National Sprint Car Hall Of Fame & Museum Foundation Inc Knoxville, IA | $7,797,948 | $2,501,286 |
Lake Superior Railroad Museum Duluth, MN | $1,428,444 | $1,322,754 |
Pavek Museum Of Broadcasting St Louis Park, MN | $6,139,052 | $709,013 |