Bedford Museum And Genealogical Library
- Assets
- $811.7k
- Revenue
- $313.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Bedford, VA
- Founding
- 04/1984
- Data as of
- 12/2021
- EIN
- 52-1316083
Organization Overview
Bedford Museum And Genealogical Library is located in Bedford, VA. The organization was established in 1984. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Bedford Museum And Genealogical Library employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bedford Museum And Genealogical Library 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, Bedford Museum And Genealogical Library generated $313.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $142.4k during the year ending 12/2021. While expenses have increased by 0.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO DEVELOP AND MAINTAIN FILES FOR GENEALOGICAL AND HISTORICAL RESEARCH AND TO COLLECT, PRESERVE AND INTERPRET OBJECTS OF HISTORICAL SIGNIFICANCE TO THE TOWN OF BEDFORD AND BEDFORD COUNTY VIRGINIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A HISTORICAL MUSEUM INCLUDING EXHIBIT AND LIBRARY ROOMS AND RESEARCH SERVICES FOR THE CULTURAL BENEFIT OF THE BEDFORD, VIRGINIA COMMUNITY AND VISITORS
OPERATION OF A GIFT SHOP FOR SALE OF BOOKS, CDS AND GIFTS RELATED TO THE HISTORY AND CULTURE OF THE BEDFORD VIRGINIA AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Hicks Secretary | OfficerTrustee | 1 | $0 |
Annie Pollard Chair | OfficerTrustee | 1 | $0 |
Doug Cooper Treasurer | OfficerTrustee | 1 | $0 |
Alvin Martin Vice Chair | OfficerTrustee | 1 | $0 |
Marion Banks Director | Trustee | 1 | $0 |
James Witt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,140 |
| Fundraising events | $3,229 |
| Related organizations | $0 |
| Government grants | $66,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $217,594 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $292,963 |
| Total Program Service Revenue | $4,111 |
| Investment income | $6,710 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,260 |
| Net Gain/Loss on Asset Sales | $1,437 |
| Net Income from Fundraising Events | -$570 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,155 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $313,066 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50 |
| 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. | $31,624 |
| Compensation of current officers, directors, key employees. | $31,624 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,397 |
| Fees for services: Management | $5,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $780 |
| Fees for services: Other | $0 |
| Advertising and promotion | $82 |
| Office expenses | $11,895 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,101 |
| Travel | $0 |
| 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 | $16,059 |
| Insurance | $2,842 |
| All other expenses | $1,505 |
| Total functional expenses | $142,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,204 |
| Savings and temporary cash investments | $202,045 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,100 |
| Prepaid expenses and deferred charges | $2,604 |
| Net Land, buildings, and equipment | $264,903 |
| Investments—publicly traded securities | $91,402 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,000 |
| Other assets | $18,448 |
| Total assets | $811,732 |
| Accounts payable and accrued expenses | $2,122 |
| 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 | $0 |
| Total liabilities | $2,122 |
| Net assets without donor restrictions | $777,886 |
| Net assets with donor restrictions | $31,724 |
| 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 | $811,732 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bedford Museum And Genealogical Library has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Mf Moorman Family Foundation Thaxton, VA PURPOSE: OPERATING PURPOSE | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thomas Jefferson Foundation Inc Charlottesville, VA | $395,493,786 | $54,038,606 |
Navy Seal Foundation Inc Virginia Beach, VA | $115,540,390 | $24,207,052 |
Lorraine Civil Rights Museum Foundation Memphis, TN | $35,843,207 | $14,748,460 |
The National Museum Of African American Music Nashville, TN | $43,131,276 | $9,233,015 |
Shakertown At Pleasant Hill Kentucky Inc Harrodsburg, KY | $23,439,163 | $8,870,243 |
Montpelier Foundation Orange, VA | $32,791,745 | $7,244,660 |
North Carolina Transportation Museum Foundation Spencer, NC | $11,455,078 | $7,616,895 |
Old Salem Incorporated Winstonsalem, NC | $81,707,076 | $3,795,190 |
Society Of The Cincinnati Washington, DC | $28,928,587 | $7,746,929 |
Owsley Brown Frazier Historical Arms Museum Foundation Inc Louisville, KY | $43,112,750 | $4,338,107 |
American Civil War Museum Richmond, VA | $33,997,529 | $3,026,232 |
B & O Railroad Museum Baltimore, MD | $29,274,881 | $4,473,800 |