Maine Mineral & Gem Museum
- Assets
- $14.6m
- Revenue
- $769.1k
- Investments
- $310.9k
- Employees
- 0
- Location
- Bethel, ME
- Founding
- 03/2014
- Data as of
- 12/2021
- EIN
- 45-3818749
Organization Overview
Maine Mineral & Gem Museum is located in Bethel, ME. The organization was established in 2014. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Mineral & Gem 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 12/2021, Maine Mineral & Gem Museum generated $769.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL OPERATIONS - MMGM REOPENED TO THE PUBLIC ON APRIL 21, 20212021 AFTER EXPERIENCING MASSIVE WATER DAMAGE RESULTING FROM A FAILED HVAC SYSTEM ON OCTOBER 23, 2020. MMGM EXPERIENCED A SECOND FLOOD FROM THE HVAC SYSTEM ON MAY 20, 2021 AND REOPENED ON JUNE 25, 2021. IN-PERSON EVENTS REMAINED LIMITED. THREE IN PERSON EVENTS WERE HELD WITH A TOTAL OF 190 ATTENDEES. VIRTUAL AWARENESS OF THE MUSUEM INCREASED BY 47% VIA SOCIAL MEDIA AND 225 NEW MEMBERS JOINED IN SUPPORT OF THE MUSUEM. 14, 258 VISITORS TOURED THE MUSEUM. THE MUSEUM HAS CONTINUED TO ACQUIRE ITEMS FOR THE COLLECTIONS TO PRESERVE MAINE'S HERITAGE AND HISTORY TO ENHANCE VISITOR EXPERIENCE.
EDUCATION - MMGM LAUNCHED AN ONLINE EDUCATION LECTURE SERIES WITH SIX VIRTUAL EDUCATIONAL SESSIONS WITH A TOTAL ONLINE REACH OF 18,641.MMGM CONTINUED TO HOST ORGANIZED SCHOOL GROUPS IN 2021 FROM JUNE 2021-DECEMBER 2021 WITH 282 STUDENTS PARTICIPATING. MMGM PROVIDED ADDITIONAL VIRTUAL AND IN -PERSON SCIENCE AND MINERALOGY EDUCATIONAL OUTREACH PRESENTATIONS. EIGHT SCIENTIFIC SESSIONS WITH 394 PARTICIPANTS AND SIX MINERALOGY/GEOLOGY OF MAINE TALKS WITH 100 PARTICIPANTS WERE HELD. MMGM RESEARCH LABORATORY AND OFFSITE TOURS REACHED 150 STUDENTS. THE MMGM RESEARCH LABORATORY CONTRIBUTED TWO RESEARCH PAPERS/PUBLICATIONS TO THE SCIENCE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbra Barrett Executive Director | 40 | $65,000 | |
Henry Minot Vice President | 2 | $0 | |
John Betts Trustee | 2 | $0 | |
Don Dallaire Treasurer | 2 | $0 | |
Archie Bill Berry Jr Ph D Trustee | 2 | $0 | |
Lawrence Tp Stifler Ph D President | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $279,368 |
| Interest on Savings | $0 |
| Dividends & Interest | $124 |
| Net Rental Income | $9,168 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $177,485 |
| Other Income | $302,947 |
| Total Revenue | $769,092 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $65,000 |
| Other employee salaries and wages | $399,309 |
| Pension plans, employee benefits | $42,444 |
| Interest | $0 |
| Taxes | $40,799 |
| Depreciation | $353,495 |
| Occupancy | $1,400 |
| Travel, conferences, and meetings | $9,672 |
| Printing and publications | $0 |
| Other expenses | $999,693 |
| Total operating and administrative expenses | $2,048,437 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,048,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,943 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $7,100 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $309,312 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $9,722,513 |
| Investments—mortgage loans | $0 |
| Investments—other | $310,919 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,987,816 |
| Total assets | $14,617,603 |
| Accounts payable and accrued expenses | $100,999 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $9,284,348 |
| Mortgages and other notes payable | $75,168 |
| Other liabilities | $209,920 |
| Total liabilities | $9,670,435 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Maine Mineral & Gem Museum has recieved totaling $132,055.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $102,050 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Museums | $30,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Maritime Museum Bath, ME | $19,147,299 | $3,611,205 |
Maine Mineral & Gem Museum Bethel, ME | $14,617,603 | $769,092 |
Canterbury Shaker Village Inc Canterbury, NH | $3,241,019 | $1,688,271 |
Penobscot Marine Museum Searsport, ME | $8,277,134 | $1,504,211 |
Sailing Ships Portland Portland, ME | $252,695 | $803,946 |
Abbe Museum Bar Harbor, ME | $4,804,812 | $816,686 |
Chosen Vale Inc Enfield, NH | $3,466,183 | $1,051,971 |
New England Ski Museum Franconia, NH | $1,811,111 | $345,656 |
Moosehead Marine Museum Inc Greenville, ME | $2,433,477 | $495,523 |
Seal Cove Auto Museum Seal Cove, ME | $959,876 | $735,715 |
Americas Credit Union Museum Foundation Manchester, NH | $2,650,235 | $258,089 |
Marine Mammals Of Maine Bath, ME | $177,477 | $377,561 |