The Chrysler Museum Inc
- Assets
- $120.7m
- Revenue
- $19.1m
- Investments
- $53.8m
- Employees
- 160
- Location
- Norfolk, VA
- Founding
- 01/1980
- Data as of
- 06/2021
- EIN
- 51-0243196
Organization Overview
The Chrysler Museum Inc is located in Norfolk, VA. The organization was established in 1980. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Chrysler Museum Inc employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2021, Chrysler Museum Inc generated $19.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $9.4m during the year ending 06/2021. 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
THE MUSEUM EXISTS TO PRESENT, PRESERVE, & INTERPRET WORKS OF ART FOR THE WELL-BEING OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHRYSLER MUSEUM OF ART IS AN EDUCATIONAL INSTITUTION WHOSE PROGRAMS ARE DESIGNED TO ENABLE VISITORS TO GAIN INSIGHTS INTO THEMSELVES AND THEIR WORLD THROUGH THE MEDIUM OF ORIGINAL WORKS OF ART. TO THIS END, THE MUSEUM COLLECTS, PRESERVES, DISPLAYS AND INTERPRETS ORIGINAL WORKS OF ART FOR THE ENJOYMENT AND EDUCATION OF A DIVERSE CONSTITUENCY. THE MUSEUM OPERATES A GLASS MAKING STUDIO ADJACENT TO ITS MAIN BUILDING. THE STUDIO OFFERS A FULL PROGRAM OF PUBLIC DEMONSTRATIONS AND CLASSES AS WELL AS A ROBUST SET OF EDUCATIONAL PARTNERSHIPS WITH REGIONAL COLLEGES AND UNIVERSITIES AND A DYNAMIC VISITING ARTIST PROGRAM. STUDIO PROGRAMMING IS DESIGNED TO COMPLEMENT AND ENRICH THE PUBLIC'S UNDERSTANDING AND APPRECIATION OF THE MUSEUM'S OUTSTANDING COLLECTION OF HISTORICAL GLASS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erik H Neil Executive Director | Officer | 40 | $231,154 |
Heather Sherwin Director Of Development | 40 | $132,846 | |
Dana Fuqua Deputy Director For Operations | Officer | 40 | $121,620 |
Seth Feman Deputy Director For Art & Intrepretation | Officer | 40 | $104,055 |
Colleen Higginbotham Deputy Director For Visitor Services | Officer | 40 | $101,356 |
Peter M Meredith Jr Treasurer | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Masterpiece International Art Shipping | 6/29/21 | $351,102 |
Electronic Systems It Services | 6/29/21 | $121,874 |
Community Counseling Service Campaign Consultants | 6/29/21 | $213,500 |
Meridian Group Public Relations And Communications Cons | 6/29/21 | $157,766 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,045,973 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,589,724 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,773,435 |
| Noncash contributions included in lines 1a–1f | $1,387,254 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,409,132 |
| Total Program Service Revenue | $516,444 |
| Investment income | $606,285 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $43,807 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,068,073 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $129,850 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,131,960 |
| 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. | $719,123 |
| Compensation of current officers, directors, key employees. | $216,991 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,032,490 |
| Pension plan accruals and contributions | $125,575 |
| Other employee benefits | $266,068 |
| Payroll taxes | $295,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $213,500 |
| Fees for services: Investment Management | $541,770 |
| Fees for services: Other | $870,163 |
| Advertising and promotion | $198,067 |
| Office expenses | $594,413 |
| Information technology | $143,181 |
| Royalties | $0 |
| Occupancy | $512,453 |
| Travel | $12,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,807 |
| Interest | $20,824 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,448 |
| Insurance | $165,389 |
| All other expenses | $0 |
| Total functional expenses | $9,438,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,422,123 |
| Pledges and grants receivable | $3,872,821 |
| 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 | $124,808 |
| Prepaid expenses and deferred charges | $950,967 |
| Net Land, buildings, and equipment | $355,825 |
| Investments—publicly traded securities | $51,309,519 |
| Investments—other securities | $53,831,341 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $850,232 |
| Total assets | $120,717,636 |
| Accounts payable and accrued expenses | $1,098,997 |
| Grants payable | $0 |
| Deferred revenue | $284,528 |
| 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 | $379,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,762,525 |
| Net assets without donor restrictions | $36,800,846 |
| Net assets with donor restrictions | $82,154,265 |
| 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 | $120,717,636 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that The Chrysler Museum Inc has recieved totaling $11,342.
| Awarding Organization | Amount |
|---|---|
Art Alliance For Contemporary Glass Dallas, TX PURPOSE: 2020 EMERGENCY GRANT. | $7,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $1,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $1,500 |
Sally M And Stephen A Herman Foundation Inc Washington, DC PURPOSE: GENERAL CHARITABLE PURPOSES | $500 |
Duval Radford Charitable Tes Tr 920-315007036031 Orlando, FL PURPOSE: GENERAL OPERATING | $342 |
Endowment Analysis
| Beg. Balance | $70,035,098 |
| Earnings | $23,758,101 |
| Net Contributions | $1,347,280 |
| Other Expense | $2,247,225 |
| Ending Balance | $92,893,254 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Museum Of Art Inc Baltimore, MD | $169,284,027 | $31,272,929 |
Phillips Collection Washington, DC | $116,986,965 | $21,813,601 |
J B Speed Art Museum Louisville, KY | $131,159,985 | $8,399,423 |
Cheekwood Botanical Garden And Museum Of Art Nashville, TN | $53,259,841 | $16,046,388 |
National Museum Of Women In The Arts Inc Washington, DC | $103,784,222 | $34,166,861 |
Mint Museum Of Art Inc Charlotte, NC | $80,854,701 | $6,923,462 |
The Chrysler Museum Inc Norfolk, VA | $120,717,636 | $19,131,960 |
Glass-Glen Burnie Museum Inc Winchester, VA | $38,534,347 | $6,311,455 |
Dixon Gallery And Gardens Memphis, TN | $10,597,888 | $6,306,698 |
The Taubman Museum Of Art Roanoke, VA | $69,106,113 | $13,430,974 |
Reynolda House Inc Winstonsalem, NC | $41,896,751 | $3,493,024 |
Hunter Museum Of Art Chattanooga, TN | $40,975,201 | $2,696,718 |