Historic Desoto Foundation
- Assets
- $684.6k
- Revenue
- $122.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Hernando, MS
- Founding
- 11/1984
- Data as of
- 12/2022
- EIN
- 64-0688913
Organization Overview
Historic Desoto Foundation is located in Hernando, MS. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Desoto Foundation 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 12/2022, Historic Desoto Foundation generated $122.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $109.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 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
TO ESTABLISH AND MAINTAIN THE DESOTO COUNTY MUSEUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHOWCASE ARTIFACTS AND EXHIBITS FEATURING THE HISTORY OF DESOTO COUNTY, MISSISSIPPI FROM 1541 TO PRESENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harvey Ferguson Treasurer | Officer | $0 | |
Barry Bouchillon Vice Preside | Officer | $0 | |
Stephanie Strom Secretary | Officer | $0 | |
Rebecca S Thompson President | Officer | $0 | |
William A Brown Director | Trustee | $0 | |
Jonathan Hooker Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,760 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,406 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,236 |
| Total Program Service Revenue | $0 |
| Investment income | $1,309 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,000 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $122,545 |
| 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 | $52,088 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,550 |
| 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 | $719 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,971 |
| 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 | $11,594 |
| Insurance | $12,091 |
| All other expenses | $409 |
| Total functional expenses | $109,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $330,600 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $96,030 |
| 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 | $257,996 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $684,626 |
| 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 | $4,088 |
| Total liabilities | $4,088 |
| Net assets without donor restrictions | $680,538 |
| 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 | $684,626 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Historic Desoto Foundation has recieved totaling $19,485.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Northwest Mississippi Inc Hernando, MS PURPOSE: CULTURAL MUSEUM | $13,914 |
United Way Of The Mid-South Memphis, TN PURPOSE: SEE SCH O | $5,571 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National World War Ii Museum Inc New Orleans, LA | $356,423,154 | $49,812,071 |
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 |
Soulsville Memphis, TN | $9,455,990 | $2,725,171 |
Burritt Museum Association Inc Huntsville, AL | $1,905,996 | $2,510,115 |
Clarksville-Montgomery County Museum Clarksville, TN | $4,515,157 | $1,658,214 |
New Orleans Steamship Association Metairie, LA | $1,485,729 | $1,165,575 |
National Model Railroad Assn Inc Soddy Daisy, TN | $5,881,840 | $1,334,168 |
National Food And Beverage Foundation New Orleans, LA | $3,385,426 | $423,541 |
Museum Of Appalachia Clinton, TN | $4,648,073 | $743,213 |
Heart Of Dixie Railroad Museum Inc Calera, AL | $2,688,676 | $638,602 |
Granville Museum Inc Granville, TN | $620,398 | $563,144 |