Grand Rapids Childrens Museum
- Assets
- $2.8m
- Revenue
- $961.3k
- Investments
- $141.3k
- Employees
- 41
- Location
- Grand Rapids, MI
- Founding
- 07/1993
- Data as of
- 09/2021
- EIN
- 38-3088234
Organization Overview
Grand Rapids Childrens Museum is located in Grand Rapids, MI. The organization was established in 1993. According to its NTEE Classification (A52) the organization is classified as: Children's Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Grand Rapids Childrens Museum employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Rapids Childrens Museum 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 09/2021, Grand Rapids Childrens Museum generated $961.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES A HANDS-ON ENVIRONMENT THAT CELEBRATES CHILDHOOD, INSPIRES LEARNING AND ENCOURAGES SELF-DIRECTED EXPLORATION FOR CHILDREN.
Describe the Organization's Program Activity:
INFORMAL HANDS ON LEARNING ENVIRONMENT THAT NURTURES THE DESIRE IN CHILDREN TO EXPLORE AND DISCOVER THE WORLD IN WHICH WE LIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maggie Lancaster Chief Executive Officer | Officer | 45 | $113,557 |
Sharon Bertram CFO | Officer | 45 | $75,505 |
Erin Crison CFO | Officer | 45 | $54,085 |
Kelley Stoppels President | OfficerTrustee | 1 | $0 |
Nick Paradiso Vice President | OfficerTrustee | 1 | $0 |
Paul Lothschutz Treasurer/secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $51,208 |
| Related organizations | $0 |
| Government grants | $233,449 |
| All other contributions, gifts, grants, and similar amounts not included above | $561,075 |
| Noncash contributions included in lines 1a–1f | $64,124 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $845,732 |
| Total Program Service Revenue | $107,624 |
| Investment income | $7,293 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$11,876 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,428 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $961,301 |
| 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. | $213,418 |
| Compensation of current officers, directors, key employees. | $69,177 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $255,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,467 |
| Payroll taxes | $35,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,546 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,717 |
| Advertising and promotion | $4,016 |
| Office expenses | $158,743 |
| Information technology | $32,852 |
| Royalties | $0 |
| Occupancy | $36,894 |
| Travel | $5,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $260 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $142,298 |
| Insurance | $24,816 |
| All other expenses | $7,591 |
| Total functional expenses | $1,034,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,765 |
| Savings and temporary cash investments | $1,189,742 |
| Pledges and grants receivable | $40,000 |
| Accounts receivable, net | $1,217 |
| 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 | $4,205 |
| Net Land, buildings, and equipment | $1,179,470 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $141,281 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,832,680 |
| Accounts payable and accrued expenses | $69,678 |
| Grants payable | $0 |
| Deferred revenue | $348,651 |
| 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 | $233,448 |
| Other liabilities | $0 |
| Total liabilities | $651,777 |
| Net assets without donor restrictions | $805,103 |
| Net assets with donor restrictions | $1,375,800 |
| 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 | $2,832,680 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Grand Rapids Childrens Museum has recieved totaling $141,647.
| Awarding Organization | Amount |
|---|---|
Cdv5 Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING | $40,000 |
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $25,520 |
Kettering Family Foundation Dayton, OH PURPOSE: ANNUAL GENERAL OPERATING SUPPORT | $25,000 |
Douglas & Maria Devos Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING | $10,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $10,000 |
Dick And Betsy Devos Family Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING | $10,000 |
Endowment Analysis
| Beg. Balance | $208,790 |
| Earnings | $39,194 |
| Net Contributions | $83,426 |
| Other Expense | $1,222 |
| Grants | $188,907 |
| Ending Balance | $141,281 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Madison Childrens Museum Foundation Inc Madison, WI | $2,957,823 | $4,551,726 |
Madison Childrens Museum Inc Madison, WI | $15,954,090 | $4,245,584 |
Betty Brinn Childrens Museum Milwaukee, WI | $2,981,160 | $2,729,087 |
Ann Arbor Hands On Museum Ann Arbor, MI | $8,341,268 | $1,982,882 |
The Childrens Museum Of Cleveland Cleveland, OH | $9,251,165 | $2,252,805 |
The Building For Kids Inc Appleton, WI | $2,957,593 | $1,489,772 |
Grand Rapids Childrens Museum Grand Rapids, MI | $2,832,680 | $961,301 |
Louis J Koch Family Childrens Museum Of Evansville Inc Evansville, IN | $2,626,868 | $826,184 |
Terre Haute Childrens Museum Inc Terre Haute, IN | $4,191,400 | $1,039,404 |
Grand Rapids Early Discovery Center Grand Rapids, MI | $55,447 | $836,516 |
Flint Childrens Museum Flint, MI | $1,799,806 | $734,338 |
Childrens Museum Of Fond Du Lac Inc Fond Du Lac, WI | $1,824,668 | $1,925,766 |