National Corvette Museum Foundation Inc

Organization Overview

National Corvette Museum Foundation Inc, operating under the name National Corvette Museum, is located in Bowling Green, KY. The organization was established in 1989. 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 12/2021, National Corvette Museum employed 149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Corvette 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 12/2021, National Corvette Museum generated $15.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $10.8m during the year ending 12/2021. While expenses have increased by 2.7% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE NATIONAL CORVETTE MUSEUM FOUNDATION, INC'S PRIMARY MISSION IS TO PRESERVE THE HISTORY AND HERITAGE OF THE CORVETTE AUTOMOBILE AND TO EDUCATE THE PUBLIC AND SERVE ALL VISITORS.

Describe the Organization's Program Activity:

TOURS AND EXHIBITS: THE NCM PROVIDED EDUCATIONAL TOURS TO 202,729 PEOPLE DURING 2021. 2,017 STUDENTS PARTICIPATED IN THE EDUCATIONAL TOURS. TOURS INCLUDE A 13-MINUTE VIDEO ON THE HISTORY OF THE CORVETTE AND EDUCATIONAL PERIOD-ERA EXHIBITS. ONE EXHIBIT INCLUDES A SCENE FROM THE CORVETTE ASSEMBLY PLANT AS WORKERS TALK FIRST-HAND ABOUT THEIR CAREER OF BUILDING AUTOMOBILES.


SPECIAL EVENTS PROGRAMS: 1,837 PEOPLE PARTICIPATED IN THE SPECIAL EVENTS PROGRAMS IN 2021. THIS INCLUDED EDUCATIONAL SEMINARS, PANEL DISCUSSIONS AND PRESENTATIONS FROM ENGINEERS, DESIGNERS AND OTHER EXPERTS IN THEIR FIELDS. THIS PROGRAM USES A SIGNIFICANT NUMBER OF VOLUNTEERS ALSO TO ASSIST IN RUNNING THE ACTIVITIES AND SEMINARS.


DELIVERY: THE DELIVERY PROGRAM BRINGS NEW CORVETTE OWNERS TO THE MUSEUM SO THAT THEY CAN LEARN ABOUT THE HISTORY OF THE CORVETTE, AND LEARN ABOUT THE PROPER OPERATION OF THEIR VEHICLE. THEY ARE GIVEN A TOUR OF THE CORVETTE ASSEMBLY PLANT (WHEN AVAILABLE) TO EDUCATE THEM ON THE MANUFACTURING PROCESS AND ALSO GIVEN A HANDS-ON DEMONSTRATION OF THE FEATURES OF THE CORVETTE. THOSE INVOLVED IN THE DELIVERY PROGRAM INCLUDE THE STAFF WHO PREPARE THE CAR (PDI) AND THE STAFF WHO PROVIDE THE TOURS AND DEMONSTRATIONS.


THE DESIGN AND ENGINEERING AREA SHOWS HOW THE AUTOMOBILE DESIGN GOES FROM SKETCHES TO CLAY MODELS, AND A CUT-AWAY CHASSIS SHOWS THE INNER BACKBONE OF A VEHICLE. AN ACTUAL CRASH TEST CAR AND ACTIVE VIDEO DEMONSTRATES THE IMPORTANCE OF WEARING SEAT BELTS AND ENCOURAGES VEHICLE SAFETY. IN 2016, THE NEW SKYDOME SINKHOLE EXPERIENCE EXHIBIT OPENED THAT TELLS THE STORY OF THE SINKHOLE THAT COLLAPSED INSIDE THE MUSEUM, WHY IT HAPPENED, HOW THE BURIED CARS WERE RECOVERED, HOW THE BUILDING WAS REPAIRED, AND WHAT THE KARST AND CAVE LANDFORMS ARE.CORVETTE CAFE/CORVETTE STORE: WE OFFER A NUMBER OF CATERING OPTIONS FOR PRIVATE EVENTS AT THE MUSEUM, SCHOOL GROUP GUESTS, AND OTHER LARGE GROUPS OF GUESTS. THE CAFE IS LOCATED IN THE MUSEUM FOR THE CONVENIENCE OF GUESTS VISITING OUR ATTRACTIONS. THE CORVETTE STORE AT NCM IS THE IDEAL PLACE TO FIND ANYTHING CORVETTE. WE HAVE A WIDE SELECTION OF APPAREL, HOME ITEMS, ARTWORK AND ITEMS TO ALLOW YOU TO CUSTOMIZE YOUR CORVETTE.MARKETING AND COMMUNICATIONS: AMERICA'S SPORTS CAR MAGAZINE IS A QUARTERLY PUBLICATION MAILED TO 25,000 HOUSEHOLDS, CLUBS AND BUSINESSES THAT EDUCATES READERS ON HAPPENINGS AT THE NCM AND CORVETTE HISTORY, INCLUDING ARTICLES ON SPECIFIC EXHIBITS TO INFORM THOSE THAT CANNOT PHYSICALLY COME TO THE MUSEUM. NCM E-NEWS IS A WEEKLY EMAIL COMMUNICATION SENT TO OVER 80,000 SUBSCRIBERS WITH SHORTER EDUCATIONS STORIES/VIDEOS AND NEW ITEMS ON CORVETTE, THE MUSEUM AND UPCOMING CAR SHOWS AND EVENTS. THE MUSEUM ALSO HAS ACCOUNTS ON YOUTUBE AND VIMEO OFFERING REGULAR VIDEO CONTENT ON VARIOUS CORVETTE TOPICS. THE MUSEUM WEBSITE IS A RESOURCE FOR RESEARCHING CORVETTE, INCLUDING DETAILS ON EVERY MODEL YEAR.LIBRARY & ARCHIVES RESOURCE CENTER: THE RESOURCE CENTER IS THE REPOSITORY FOR ALL MATERIALS DOCUMENTING THE PAST, PRESENT AND FUTURE OF CORVETTE, CORVETTE ENTHUSIASTS AND THE CORVETTE MUSEUM. THE MATERIAL MANAGED AND PRESERVED INCLUDES AUDIO AND VISUAL MEDIA - BOTH DIGITAL (DVDS) AND MAGNETIC (VHS AND BETA TAPES), PERIODICALS, BOOKS, DRAWINGS, PAINTINGS, POSTERS, MEMORABILIA AND DOCUMENTS INCLUDING SOME IMPORTANT HISTORICAL MEMORABILIA PLUS BUILD SHEETS. MOST MATERIALS HAVE BEEN DONATED TO THE NCM FROM INDIVIDUAL ENTHUSIASTS, PUBLISHING COMPANIES, PRINT MEDIA, AFTERMARKET SUPPLIERS, CLUBS AND ORGANIZATIONS SUCH AS NCRS, AND FROM GM/CHEVROLET.OTHER PROGRAM SERVICES INCLUDE EDUCATIONAL INSTRUCTION SUCH AS THE TEEN DRIVING ACADEMY, VETTE CAMP AND TRAVELING TRUNKS AND VISITS TO SCHOOLS. ADDITIONAL PROGRAMS INCLUDE WEBSITE AND MAGAZINE OUTREACH, MEMBERSHIP SERVICES, AND ATTENDING SHOWS AROUND THE COUNTRY.THE GATEWAY EXHIBIT TELLS THE STORY BEHIND THE CREATION OF CORVETTE, LOOKING AT THE CULMINATION OF EUROPEAN SPORTS CARS BEING IMPORTED BY WWII VETERANS, SMALL AMERICAN AUTO MANUFACTURERS BUILDING LOW PRODUCTION SPORTS CARS, AND THE DEVELOPMENT OF FIBERGLASS. THE EXHIBIT DISCUSSES THE ROLE HARLEY EARL PLAYED AT GENERAL MOTORS TO BRING ALL OF THESE FACTORS TOGETHER TO CREATE CORVETTE AMERICA'S SPORTS CAR.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Dhi Contracting
Construction
$137,899
Jlb Florida
It Consulting
$103,224
Double D Commercial Roofing
Roofing
$180,824
Scott Murphy
Construction
$124,628
Scotty's Contracting Stone Llc
Construction Service
$155,206
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$904,257
Fundraising events$0
Related organizations$0
Government grants $880,197
All other contributions, gifts, grants, and similar amounts not included above$1,446,121
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,230,575
Total Program Service Revenue$5,483,365
Investment income $246,261
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,260,979
Net Gain/Loss on Asset Sales -$617,158
Net Income from Fundraising Events $0
Net Income from Gaming Activities $2,682,405
Net Income from Sales of Inventory $2,578,894
Miscellaneous Revenue$0
Total Revenue $15,403,313

Grants Recieved

Over the last fiscal year, we have identified 3 grants that National Corvette Museum Foundation Inc has recieved totaling $29,596.

Awarding OrganizationAmount
Greater Houston Community Foundation

Houston, TX

PURPOSE: ARTS

$25,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$3,596
Andrew Family Foundation

Orland Park, IL

PURPOSE: GENERAL & UNRESTRICTED

$1,000
View Grant Recipient Profile

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