Texas Cotton Gin Museum Inc
- Assets
- $786.9k
- Revenue
- $271.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Burton, TX
- Founding
- 02/1987
- Data as of
- 12/2022
- EIN
- 74-2441780
Organization Overview
Texas Cotton Gin Museum Inc is located in Burton, TX. The organization was established in 1987. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Texas Cotton Gin Museum Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Cotton Gin Museum 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 12/2022, Texas Cotton Gin Museum Inc generated $271.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.5% each year . All expenses for the organization totaled $151.8k during the year ending 12/2022. While expenses have increased by 9.1% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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 TEXAS COTTON GIN MUSEUM IS TO CREATE A REWARDING EXPERIENCE TO KEEP THE LEGACY OF COTTON ALIVE THROUGH THE HISTORIC 1914 BURTON FARMERS GIN--THE OLDEST OPERATING COTTON GIN IN AMERICA. THE GOAL IS TO OPERATE A FULLY ACCREDITED MUSEUM PROGRAM ENRICHING PEOPLE'S LIVES BY HELPING THEM UNDERSTAND COTTON'S PAST, TO APPRECIATE THE PRESENT AND EMBRACE THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTORE, MAINTAIN AND PROMOTE THE HISTORICAL PROPERTIES IN THE TOWN OF BURTON, TX AND PRESERVE THEHISTORICAL IMPORTANCE OF THE COTTON INDUSTRY IN TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cristopher B Gwinn Director | Trustee | 1 | $0 |
Jordan Grier Director | Trustee | 1 | $0 |
Ronnie Stanley Director | Trustee | 1 | $0 |
Ross Rutherford Director | Trustee | 1 | $0 |
Gerry Kasberg Director | Trustee | 1 | $0 |
Janet Whitener Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $67,600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,274 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $164,899 |
| Total Program Service Revenue | $7,734 |
| Investment income | $963 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $87,328 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,838 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $270,967 |
| 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 | $63,574 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,863 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,170 |
| 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 | $2,491 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,511 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,183 |
| Insurance | $16,206 |
| All other expenses | $569 |
| Total functional expenses | $151,768 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,618 |
| Savings and temporary cash investments | $73,622 |
| 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 | $4,048 |
| Prepaid expenses and deferred charges | $520 |
| Net Land, buildings, and equipment | $490,483 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,592 |
| Total assets | $786,883 |
| Accounts payable and accrued expenses | $2,050 |
| 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 | $21,897 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $68,792 |
| Total liabilities | $92,739 |
| Net assets without donor restrictions | $620,522 |
| Net assets with donor restrictions | $73,622 |
| 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 | $786,883 |