Museum Of The Southwest
- Assets
- $19.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 25
- Location
- Midland, TX
- Founding
- 10/1966
- Data as of
- 12/2020
- EIN
- 75-1229711
Organization Overview
Museum Of The Southwest is located in Midland, TX. The organization was established in 1966. 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, Museum Of The Southwest employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of The Southwest 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 12/2020, Museum Of The Southwest generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.5%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM OF THE SOUTHWEST WILL IMMERSE ITS VISITORS IN EXPERIENCES THAT WILL TRANSFORM THEIR UNIVERSE AND REVEAL NEW POSSIBILITIES. WE INSPIRE EXPLORATION AND INTERACTION WITH THE ARTS, SCIENCE, HISTORY, AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM OF THE SOUTHWEST SERVICES ITS COMMUNITY AS A UNIQUE REGIONAL RESOURCE FOR CULTURAL ENRICHMENT. IN ITS ART MUSEUM, CHILDREN'S MUSEUM, AND PLANETARIUM, AND ON ITS PARK-LIKE GROUNDS, THE MUSEUM PROVIDES OPPORTUNITIES FOR ENJOYMENT AND ENLIGHTENMENT TO PEOPLE OF ALL AGES. USING TOOLS OF EDUCATION AND ENTERTAINMENT, THE MUSEUM FOSTERS APPRECIATION OF ART AND SCIENCE AND NURTURES THE SPIRIT OF CREATIVITY, SENSITIVITY, AND DISCOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Wesley Ex Dir | Officer | 40 | $123,433 |
Amanda Poe Operations M | Officer | 40 | $54,017 |
Bethany Etheredge President | OfficerTrustee | 0.19 | $0 |
Gerry Weisenfels Past Preside | OfficerTrustee | 0.17 | $0 |
Chelsea Pervier Vice Preside | OfficerTrustee | 0.19 | $0 |
Brooke Moncrief Secretary | OfficerTrustee | 0.19 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mw Builders Inc Construction | 12/30/21 | $2,346,256 |
The Bosworth Company Maintenance | 12/30/21 | $311,162 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,408,632 |
| Investment income | $138,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $219 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,170 |
| Net Income from Fundraising Events | -$2,905 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,725,482 |
| Statement of Expenses | |
|---|---|
| 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. | $224,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $461,387 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $77,149 |
| Payroll taxes | $50,951 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,812 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,132 |
| Fees for services: Other | $51,550 |
| Advertising and promotion | $6,103 |
| Office expenses | $56,284 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $138,960 |
| Travel | $206 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,838 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $492,917 |
| Insurance | $49,369 |
| All other expenses | $0 |
| Total functional expenses | $1,786,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,934,891 |
| Savings and temporary cash investments | $122,738 |
| Pledges and grants receivable | $481,953 |
| 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 | $32,203 |
| Prepaid expenses and deferred charges | $17,654 |
| Investments—publicly traded securities | $5,553,255 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,849,985 |
| Accounts payable and accrued expenses | $307,509 |
| 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 | $131,900 |
| Other liabilities | $0 |
| Total liabilities | $439,409 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $19,410,576 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Museum Of The Southwest has recieved totaling $429,812.
| Awarding Organization | Amount |
|---|---|
Fmh Foundation Midland, TX PURPOSE: OPERATING EXPENSES, PROGRAMMING AND CURITORIAL SOUND PROJECT | $181,000 |
Warren Charitable Foundation Midland, TX PURPOSE: TO FURTHER CHARITABLE PURPOSE | $50,000 |
Beal Foundation Midland, TX PURPOSE: OPERATING FUNDS | $45,000 |
Helen Greathouse Charitable Trust Las Vegas, NV PURPOSE: GENERAL OPERATING | $40,000 |
Abell-Hanger Foundation Midland, TX PURPOSE: FOR THE TEACH ON! PROFESSIONAL DEVELOPMENT WORKSHOPS FOR REGION 18 EDUCATORS | $25,000 |
A W And Virginia Hanley Charitable Trust Midland, TX PURPOSE: OPERATING FUNDS | $20,000 |
Endowment Analysis
| Beg. Balance | $5,553,255 |
| Earnings | $1,064,930 |
| Admin Expense | $51,154 |
| Other Expense | $241,011 |
| Ending Balance | $6,326,020 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Witte Museum San Antonio, TX | $80,577,156 | $11,273,075 |
American Airpower Heritage Museum Inc Dallas, TX | $14,350,324 | $12,462,262 |
National Cowboy And Western Heritage Museum Inc Oklahoma City, OK | $111,505,092 | $15,269,819 |
Science Museum Oklahoma Inc Oklahoma City, OK | $87,882,272 | $6,278,809 |
Fort Worth Museum Of Science And History Fort Worth, TX | $55,575,767 | $8,824,812 |
Holocaust Museum Houston Houston, TX | $41,860,555 | $7,348,837 |
Gilcrease Museum Management Trust Tulsa, OK | $58,936,912 | $9,269,478 |
Lady Lex Museum On The Bay Association Corpus Christi, TX | $13,577,755 | $8,975,317 |
Medal Of Honor Museum Foundation Arlington, TX | $99,959,490 | $88,628,383 |
Indian Pueblo Cultural Center Inc Albuquerque, NM | $8,961,229 | $4,518,580 |
Battleship Texas Foundation Inc Houston, TX | $9,923,977 | $4,711,164 |
Childrens Museum Of Northwestarkansas Bentonville, AR | $23,218,828 | $2,416,188 |