Valentine Museum
- Assets
- $31.5m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 78
- Location
- Richmond, VA
- Founding
- 07/1925
- Data as of
- 06/2022
- EIN
- 54-0505967
Organization Overview
Valentine Museum, operating under the name The Valentine, is located in Richmond, VA. The organization was established in 1925. 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 06/2022, Valentine employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valentine 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 06/2022, Valentine generated $4.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. 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
THE MISSION OF THE VALENTINE IS TO ENGAGE, EDUCATE AND CHALLENGE A DIVERSE AUDIENCE BY COLLECTING, PRESERVING AND INTERPRETING RICHMOND'S HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VALENTINE ENGAGES CHILDREN AND ADULTS IN THOUGHTFUL PROGRAMS DESIGNED TO USE HISTORY TO INFORM THE PRESENT AND TO SHAPE THE FUTURE. INTERACTIVE PROGRAMS REACH CHILDREN FROM PRE-K TO HIGH SCHOOL ON SITE AND THROUGH OUTREACH IN THE SCHOOLS. ADULT EDUCATION INCLUDES WALKING AND BUS TOURS, CONVERSATIONS AND OUTREACH PRESENTATIONS ON SPECIFIC RICHMOND HISTORY TOPICS AND PRESENT DAY ISSUES SUCH AS TRANSPORTATION, EDUCATION AND RACIAL DISPARITY. THE VALENTINE USES ITS EXTENSIVE COLLECTION TO INFORM AND SUPPORT THE ABOVE PROGRAMS AND TO DEVELOP CHANGING EXHIBITIONS THAT EXPLORE RICHMOND'S COMPLICATED HISTORY AND ITS PLACE IN THE FUTURE. MUSEUM RESOURCES ARE USED TO SUPPORT THESE COLLECTING AND EDUCATIONAL EFFORTS. CARE OF THE COLLECTION INCLUDES THE MAINTENANCE AND OPERATON OF THE MUSEUM FACILITIES AND THE HISTORIC 200 YEAR OLD WICKHAM HOUSE, A REGISTERD NATIONAL LANDMARK. THE VALENTINE IS AN ACTIVE MEMBER OF THE COMMUNITY AND FREQUENTLY PARTNERS WITH OTHER COMMUNITY ORGANIZATIONS TO ENSURE RELEVANCY AND CURRENT ALIGNMENT WITH ISSUES THAT MATTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Martin Director | Trustee | 40 | $131,055 |
E Massie Valentine Jr Treasurer | OfficerTrustee | 2 | $0 |
Tee Valentine Vice Chairman | OfficerTrustee | 2 | $0 |
Scott R Warren Chairmen | OfficerTrustee | 2 | $0 |
J Edward Ukrop Secretary | OfficerTrustee | 2 | $0 |
Deborah W Davis Assistant Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $440,950 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,212,338 |
| Noncash contributions included in lines 1a–1f | $374,997 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,653,288 |
| Total Program Service Revenue | $52,039 |
| Investment income | $535,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $307 |
| Net Rental Income | $54,501 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $55,985 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $19,770 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,443,441 |
| 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. | $135,252 |
| Compensation of current officers, directors, key employees. | $29,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,063,220 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $97,817 |
| Payroll taxes | $85,578 |
| Fees for services: Management | $0 |
| 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 | $89,667 |
| Fees for services: Other | $67,899 |
| Advertising and promotion | $28,923 |
| Office expenses | $29,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $223,551 |
| Travel | $32,276 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,442 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $371,420 |
| Insurance | $51,190 |
| All other expenses | $71,249 |
| Total functional expenses | $2,570,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,739 |
| Savings and temporary cash investments | $1,500,158 |
| Pledges and grants receivable | $2,377,603 |
| Accounts receivable, net | $20,197 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,174 |
| Prepaid expenses and deferred charges | $10,902 |
| Net Land, buildings, and equipment | $8,267,054 |
| Investments—publicly traded securities | $18,454,704 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $20,606 |
| Other assets | $745,045 |
| Total assets | $31,520,182 |
| Accounts payable and accrued expenses | $571,102 |
| 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 | $795,707 |
| Total liabilities | $1,366,809 |
| Net assets without donor restrictions | $9,004,545 |
| Net assets with donor restrictions | $21,148,828 |
| 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 | $31,520,182 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Valentine Museum has recieved totaling $21,000.
| Awarding Organization | Amount |
|---|---|
Fatherree Foundation Henrico, VA PURPOSE: UNRESTICTED | $16,000 |
Mraz Charitable Tr Richmond, VA PURPOSE: CITY HISTORY STUDY AND PRESERVATION | $5,000 |
Endowment Analysis
| Beg. Balance | $10,724,473 |
| Net Contributions | $206,141 |
| Ending Balance | $10,930,614 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Soulsville Memphis, TN | $9,455,990 | $2,725,171 |