Science Spectrum
- Assets
- $19.2m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 54
- Location
- Lubbock, TX
- Founding
- 10/1987
- Data as of
- 12/2021
- EIN
- 75-2184555
Organization Overview
Science Spectrum is located in Lubbock, TX. The organization was established in 1987. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Science Spectrum employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Science Spectrum 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, Science Spectrum generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 0.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SCIENCE AND TECHNOLOGY MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCIENCE SPECTRUM IS A SCIENCE AND TECHNOLOGY MUSEUM, A HANDS-ON EXHIBIT CENTER, AS WELL AS A STATE OF THE ART OMNIMAX THEATER IN ONE LOCATION. THIS ORGANIZATION BENEFITS THE GENERAL PUBLIC WITHIN A 200 MILE RADIUS OF LUBBOCK, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cassandra Henry President | OfficerTrustee | 50 | $110,006 |
Christina Belle Henry Director | Trustee | 1 | $0 |
Scott Cherry Director | Trustee | 1 | $0 |
Sally Cummings Director | OfficerTrustee | 1 | $0 |
Kathy Rollo Director | Trustee | 1 | $0 |
Robert Granfeldt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,424,182 |
| Investment income | $37,251 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $204,863 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $121,719 |
| Net Income from Gaming Activities | $266,030 |
| Net Income from Sales of Inventory | $147,047 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,130,788 |
| 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. | $96,643 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $731,074 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $67,113 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,853 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,154 |
| Office expenses | $52,982 |
| Information technology | $26,804 |
| Royalties | $0 |
| Occupancy | $222,013 |
| 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 | $431,449 |
| Insurance | $86,769 |
| All other expenses | $0 |
| Total functional expenses | $2,188,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,000 |
| Savings and temporary cash investments | $4,932,456 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,084 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,246 |
| Prepaid expenses and deferred charges | $42,242 |
| Investments—publicly traded securities | $1,326,298 |
| Investments—other securities | $0 |
| Investments—program-related | $233,547 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,164,011 |
| Accounts payable and accrued expenses | $26,256 |
| Grants payable | $0 |
| Deferred revenue | $73,695 |
| 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 | $33,131 |
| Total liabilities | $133,082 |
| Net assets without donor restrictions | $17,030,929 |
| Net assets with donor restrictions | $2,000,000 |
| 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 | $19,030,929 |