Virginia Museum Of Transportation Inc
- Assets
- $7.6m
- Revenue
- $586.9k
- Investments
- $0.0
- Employees
- 12
- Location
- Roanoke, VA
- Founding
- 08/1977
- Data as of
- 06/2021
- EIN
- 54-1027436
Organization Overview
Virginia Museum Of Transportation Inc is located in Roanoke, VA. The organization was established in 1977. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Virginia Museum Of Transportation Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Museum Of Transportation 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 06/2021, Virginia Museum Of Transportation Inc generated $586.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (25.2%) each year. All expenses for the organization totaled $899.4k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (17.7%) per year over the past 6 years. 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
PRESERVATION OF TRANSPORTATION HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM IS AN EDUCATIONAL INSTITUTION THAT COLLECTS AND PRESERVES EXHIBITS RELATED TO THE HISTORY AND TECHNOLOGY OF ALL FORMS OF TRANSPORTATION WITH EMPHASIS ON VIRGINIA'S TRANSPORTATION HISTORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Lanford President | OfficerTrustee | 2 | $0 |
Robert G Bennett VP Auto Gall | OfficerTrustee | 2 | $0 |
Tom Cox Exec Vice Pr | OfficerTrustee | 2 | $0 |
Eugene M Elliott Jr VP Collectio | OfficerTrustee | 2 | $0 |
Mary E Whelchel VP Marketing | OfficerTrustee | 2 | $0 |
Chris Banta Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $169,767 |
| All other contributions, gifts, grants, and similar amounts not included above | $207,606 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $377,373 |
| Total Program Service Revenue | $154,516 |
| Investment income | $1,613 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $53,349 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $586,851 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $244,171 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,526 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,225 |
| Office expenses | $78,837 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,218 |
| Travel | $15,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,092 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $192,000 |
| Insurance | $42,491 |
| All other expenses | $0 |
| Total functional expenses | $899,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $544,342 |
| Savings and temporary cash investments | $512,567 |
| Pledges and grants receivable | $0 |
| 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 | $105,137 |
| Prepaid expenses and deferred charges | $10,000 |
| Net Land, buildings, and equipment | $6,261,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $123,488 |
| Other assets | $0 |
| Total assets | $7,557,234 |
| Accounts payable and accrued expenses | $325 |
| 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 | $52,893 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $53,218 |
| Net assets without donor restrictions | $6,517,066 |
| Net assets with donor restrictions | $986,950 |
| 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 | $7,557,234 |
Grants Awarded
Over the last fiscal year, Virginia Museum Of Transportation Inc has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Roanoke, VA PURPOSE: TO PROVIDE ASSISTANCE TO ORGANIZATION | $25,000 |
Roanoke, VA PURPOSE: TO PROVIDE ASSISTANCE TO ORGANIZATION | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Museum Of Transportation Inc has recieved totaling $1,132.
| Awarding Organization | Amount |
|---|---|
Les And Judy Smout Foundation Inc Clearwater, FL PURPOSE: UNRESTRICTED | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
International Spy Museum Washington, DC | $139,621,736 | $22,140,962 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Mariners Museum Newport News, VA | $159,780,245 | $10,021,200 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Chesapeake Bay Maritime Museum Inc Saint Michaels, MD | $39,670,845 | $11,802,090 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |
Adventure Science Center Nashville Nashville, TN | $22,045,170 | $10,457,321 |
Tennessee Valley Railroad Museum Inc Chattanooga, TN | $14,724,108 | $5,452,372 |