Rice Museum
- Assets
- $318.6k
- Revenue
- $120.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Georgetown, SC
- Founding
- 03/1998
- Data as of
- 06/2022
- EIN
- 58-2323990
Organization Overview
Rice Museum is located in Georgetown, SC. The organization was established in 1998. 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, Rice Museum employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rice Museum 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, Rice Museum generated $120.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $151.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE RICE MUSEUM SHALL BE TO OPERATE A HISTORICAL AND CULTURAL ARTS CENTER FOR GEORGETOWN COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE A HISTORICAL AND CULTURAL ARTS CENTER IN THE HISTORIC OLD MARKET BUILDING. MAINTAIN THE HISTORIC RICE MUSEUM AND CONDUCT TOURS OF ITS EXHIBITS WHICH EXPLAIN THE STORY OF THE RICE CULTURE OF GEORGETOWN, SC. MANAGE THE CHANGING EXHIBIT GALLERY TO PROVIDE INTERESTING AND TOPICAL EXHIBITS OF ART AND HISTORY.THE ORGANIZATION HAS APPROXIMATELY 1,000 MEMBERS AND 30,000 ANNUAL VISITORS, INCLUDING 3,000 PAID ADMISSIONS. AS A SERVICE TO THE COMMUNITY, THE ORGANIZATION OFFERS GROUP TOURS FOR LOCAL SCHOOLS, SENIOR CITIZENS, SCOUTS AND OTHER GROUPS FREE OF ADMISSIONS CHARGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James A Fitch Executive Director | Officer | 16 | $24,000 |
Esther Sharp Director | Trustee | 5 | $0 |
Vida Miller Director | Trustee | 5 | $0 |
Zenobia Harper Director | Trustee | 5 | $0 |
Margie Forbes Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,775 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,429 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,204 |
| Total Program Service Revenue | $17,662 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,140 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$669 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $70,921 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,258 |
| 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. | $28,716 |
| Compensation of current officers, directors, key employees. | $7,145 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,483 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,801 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,877 |
| Travel | $2,580 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,291 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $712 |
| All other expenses | $1,840 |
| Total functional expenses | $151,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,918 |
| 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 | $64,000 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $250,649 |
| Total assets | $318,567 |
| Accounts payable and accrued expenses | $2,572 |
| 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 | $42,542 |
| Other liabilities | $0 |
| Total liabilities | $45,114 |
| Net assets without donor restrictions | $273,453 |
| 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 | $318,567 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Infantry Museum Foundation Inc Columbus, GA | $75,263,880 | $5,605,336 |
North Carolina Transportation Museum Foundation Spencer, NC | $11,455,078 | $7,616,895 |
Old Salem Incorporated Winstonsalem, NC | $81,707,076 | $3,795,190 |
Charleston Museum Charleston, SC | $22,919,139 | $2,871,325 |
Museum Of The New South Inc Charlotte, NC | $19,470,866 | $6,687,366 |
Wheels Through Time Museum Inc Maggie Valley, NC | $9,023,268 | $3,376,533 |
Middleton Place Foundation Charleston, SC | $38,947,453 | $9,851,787 |
Upcountry History Museum Greenville, SC | $5,015,071 | $1,133,464 |
Friends Of The Strand Inc Marietta, GA | $4,885,519 | $1,911,052 |
The North Carolina Museum Of History Associates Inc Raleigh, NC | $798,352 | $1,183,113 |
Railway Tie Association Fayetteville, GA | $1,038,255 | $920,896 |
Augusta Museum Of History Inc Augusta, GA | $3,503,455 | $909,903 |