Museum Of The Albemarle Inc
- Assets
- $2.6m
- Revenue
- $231.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Elizabeth City, NC
- Founding
- 04/1965
- Data as of
- 12/2021
- EIN
- 56-6065293
Organization Overview
Museum Of The Albemarle Inc is located in Elizabeth City, NC. The organization was established in 1965. According to its NTEE Classification (A54) the organization is classified as: History 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. Museum Of The Albemarle 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 12/2021, Museum Of The Albemarle Inc generated $231.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $109.5k during the year ending 12/2021. 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
TO PROMOTE THE HISTORIC ALBEMARLE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL, CULTURAL-PROVIDING TOURS OF THE MUSEUM TO PROMOTE THE HISTORY OF OUR REGION. THERE ARE ALSO SPECIAL EXHIBITS FOR THE PUBLIC AND WORKSHOPS PROVIDED. THE NEWSLETTERS PROMOTE THE ACTIVITIES OFFERED AT THE MUSEUM AND SPECIAL OCCASIONS UPCOMING.
EDUCATIONAL, CULTURAL-PROVIDING TOURS OF THE MUSEUM TO PROMOTE THE HISTORY OF OUR REGION. THERE ARE ALSO SPECIAL EXHIBITS FOR THE PUBLIC AND WORKSHOPS PROVIDED. THE NEWSLETTERS PROMOTE THE ACTIVITIES OFFERED AT THE MUSEUM AND SPECIAL OCCASIONS UPCOMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Johnson Biggs Vice Preside | OfficerTrustee | $0 | |
Linda Hofler President | OfficerTrustee | $0 | |
Douglas Gardner Treasurer | OfficerTrustee | $0 | |
Harriett Hornthal Director | Trustee | $0 | |
Barbara Putnam Ex Officio | Trustee | $0 | |
Kim Castle Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,184 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,546 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,730 |
| Total Program Service Revenue | $910 |
| Investment income | $32,461 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,092 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $231,327 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,593 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,342 |
| Office expenses | $7,850 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,121 |
| Travel | $170 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $380 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,115 |
| Insurance | $2,098 |
| All other expenses | $7,847 |
| Total functional expenses | $109,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $846,894 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $200,163 |
| Investments—publicly traded securities | $1,577,812 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,578 |
| Total assets | $2,640,447 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,640,447 |
| Net assets with donor restrictions | $0 |
| 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 | $2,640,447 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Museum Of The Albemarle Inc has recieved totaling $31,453.
| Awarding Organization | Amount |
|---|---|
North Carolina Humanities Council Charlotte, NC PURPOSE: TO HIRE A TEMPORARY CONTRACT POSITION TO RECRUIT AND MANAGE ADULT AND JUNIOR VOLUNTEERS. AS NOTED, BOTH THE MUSEUMS ADULT AND JUNIOR VOLUNTEER BASE HAS SIGNIFICANTLY DECLINED, DUE TO THE PANDEMIC CLOSING. THIS POSITION WOULD BE UTILIZED TO MANAGE AND REBUILD BOTH THE ADULT AND JUNIOR VOLUNTEER PROGRAMS WITH SET GOALS. GOALS FOR THE POSITION WILL BE TO RECRUIT ADULT AND JUNIOR VOLUNTEERS THROUGH MEDIA, VARIOUS ORGANIZATIONS, SCHOOLS, LOCAL COLLEGES, CLUBS, ETC., ESTABLISH TRAINING MANUALS FOR ADULT AND JUNIOR VOLUNTEERS, ACCEPT/TRACK ADULT AND JUNIOR VOLUNTEER APPLICATIONS, SET-UP INTERVIEW TIMES WITH POTENTIAL ADULT AND JUNIOR VOLUNTEER APPLICANTS, COORDINATE MEETINGS AND TRAINING SESSIONS FOR NEW ADULT AND JUNIOR VOLUNTEERS, MAINTAIN DATA BASE OF ALL ADULT AND JUNIOR VOLUNTEERS WITH CORRECT CONTACT INFORMATION, ARRANGE FOR ADULT AND JUNIOR VOLUNTEERS TO ASSIST WITH EDUCATIONAL PROGRAMMING NEEDS, AND OTHER DUTIES NECESSARY TO IN RELATION TO ADULT AND JUNIOR VOLUNTEERS. | $20,000 |
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: ARTS, CULTURE & HUMANITIES | $11,453 |
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 |
National Infantry Museum Foundation Inc Columbus, GA | $75,263,880 | $5,605,336 |
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 |
American Civil War Museum Richmond, VA | $33,997,529 | $3,026,232 |
Soulsville Memphis, TN | $9,455,990 | $2,725,171 |
Valentine Museum Richmond, VA | $31,520,182 | $4,443,441 |
George Washington Masonic National Memorial Association Inc Alexandria, VA | $22,574,581 | $2,980,400 |