Brucemore Inc
- Assets
- $18.0m
- Revenue
- $1.9m
- Investments
- $10.7m
- Employees
- 15
- Location
- Cedar Rapids, IA
- Founding
- 01/1982
- Data as of
- 03/2022
- EIN
- 42-1170531
Organization Overview
Brucemore Inc is located in Cedar Rapids, IA. The organization was established in 1982. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 03/2022, Brucemore Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brucemore 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 03/2022, Brucemore Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.1m during the year ending 03/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE COMMUNITY INTERACTION WITH HISTORY, PRESERVATION, AND THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRUCEMORE SERVES THE COMMUNITY IN THREE FUNDAMENTAL WAYS TO MEET ITS MISSION TO INSPIRE COMMUNITY INTERACTION WITH HISTORY, PRESERVATION, AND THE ARTS. FIRST, THE ORGANIZATION HAS AN ON-GOING RESPONSIBILITY TO PRESERVE THE IRREPLACEABLE HISTORIC RESOURCES IN ITS CARE AS A TANGIBLE CONNECTION TO THE PAST. THESE ASSETS INCLUDE SEVEN HISTORIC STRUCTURES, A 26-ACRE LANDSCAPE; AND THOUSANDS OF OBJECTS, DOCUMENTS, AND WORKS OF ART. IN 2020-2021, THIS INCLUDED PROJECTS SUCH AS THE MANSION ENVELOPE RESTORATION PROJECT AND LANDSCAPE RESTORATION PROJECT. SECOND, THE ORGANIZATION CREATES AND PROVIDES HERITAGE EVENTS THAT HIGHLIGHT THE SIGNIFICANCE OF THE SITE AND ITS COLLECTION TO AUDIENCES NEAR AND FAR. THESE PROGRAMS WELCOME PEOPLE FOR A VARIETY OF GUIDED TOURS, SPECIAL-FOCUS TOURS, EXHIBITS, AND SELF-GUIDED EXPLORATIONS. THIRD, THE ORGANIZATION IS A DRIVER IN THE CULTURAL ECONOMY BY PRODUCING, PARTNERING, AND PRESENTING OUTDOOR THEATER, COMMUNITY EVENTS, AND PUBLIC CELEBRATIONS AGAINST THE BACKDROP OF THE ICONIC, HISTORIC ESTATE. THESE ACTIVITIES WELCOME THOUSANDS OF VISITORS AND ENLIVEN THE SPACE WHILE ENGAGING PEOPLE IN THE SITE AND ITS HISTORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janssen David Executive Director | Officer | 40 | $124,868 |
Costello Kelly Business Manager | Officer | 40 | $65,501 |
Hillyard Kimberly Treasurer | OfficerTrustee | 1 | $0 |
Fagan Brian President | OfficerTrustee | 1 | $0 |
Neumann Doug Vice President | OfficerTrustee | 1 | $0 |
Hall Kathy Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rinderknecht Associates Inc General Contracting | 3/30/22 | $1,373,651 |
Opn Architects Architectural Services | 3/30/22 | $105,808 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $122,748 |
| Fundraising events | $36,500 |
| Related organizations | $256,178 |
| Government grants | $413,936 |
| All other contributions, gifts, grants, and similar amounts not included above | $260,092 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,089,454 |
| Total Program Service Revenue | $46,760 |
| Investment income | $195,888 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,999 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $48,848 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$8 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,902,736 |
| 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. | $205,373 |
| Compensation of current officers, directors, key employees. | $107,746 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $398,366 |
| Pension plan accruals and contributions | $2,995 |
| Other employee benefits | $44,075 |
| Payroll taxes | $45,391 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,657 |
| Fees for services: Accounting | $13,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,570 |
| Fees for services: Other | $132,793 |
| Advertising and promotion | $42,712 |
| Office expenses | $17,805 |
| Information technology | $71,030 |
| Royalties | $0 |
| Occupancy | $98,130 |
| Travel | $5,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,368 |
| Insurance | $68,164 |
| All other expenses | $35,869 |
| Total functional expenses | $3,068,403 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $924 |
| Savings and temporary cash investments | $3,801,498 |
| Pledges and grants receivable | $2,015,000 |
| Accounts receivable, net | $9,101 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,866 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,494,443 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,669,331 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,081 |
| Total assets | $18,035,244 |
| Accounts payable and accrued expenses | $122,660 |
| Grants payable | $0 |
| Deferred revenue | $445,192 |
| 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 | $19,141 |
| Total liabilities | $586,993 |
| Net assets without donor restrictions | $2,018,427 |
| Net assets with donor restrictions | $15,429,824 |
| 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 | $18,035,244 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Brucemore Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Shive-Hattery Group Charitable Contribution Fund Inc Cedar Rapids, IA PURPOSE: GENERAL OPERATING BUDGET | $1,000 |
Endowment Analysis
| Beg. Balance | $11,065,958 |
| Earnings | $285,938 |
| Admin Expense | $47,570 |
| Other Expense | $384,803 |
| Ending Balance | $10,919,523 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cedars Youth Services Inc Lincoln, NE | $3,781,536 | $13,267,342 |
John Michael Kohler Arts Center Inc Sheboygan, WI | $91,886,755 | $7,533,321 |
Puerto Rican Cultural Center Chicago, IL | $9,175,566 | $9,769,703 |
United States Artists Inc Chicago, IL | $40,639,117 | $6,830,121 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Washington Pavilion Management Inc Sioux Falls, SD | $7,664,278 | $8,315,223 |
Kohler Trust For The Arts And Education Kohler, WI | $9,068,772 | $5,585,156 |
Applied Information Management Institute Omaha, NE | $8,071,442 | $4,851,557 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
American College Of Occupational And Environmental Medicine Elk Grove Village, IL | $5,115,240 | $3,683,433 |
Success Institute Minneapolis, MN | $1,766,984 | $4,353,040 |
Winnetka Community House Winnetka, IL | $15,269,238 | $4,423,430 |