Edge Motor Museum Inc
- Assets
- $486.3k
- Revenue
- $445.2k
- Investments
- $0.0
- Employees
- 8
- Location
- Memphis, TN
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 82-5182805
Organization Overview
Edge Motor Museum Inc is located in Memphis, TN. The organization was established in 2018. 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 12/2022, Edge Motor Museum Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edge Motor 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, Edge Motor Museum Inc generated $445.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $396.4k during the year ending 12/2022. 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 ORGANIZATION IS OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES TO PRESENT AND PRESERVE ANTIQUE VEHICLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WILL BE PRESENTING AND PRESERVING ANTIQUE VEHICLES IN THE PROPER HISTORICAL CONTEXT; ENCOURAGING RESPONSIBLE PRESERVATION FOR FUTURE GENERATIONS; CONVEYING THE HISTORY OF THE 20TH CENTURY FROM THE VIEWPOINT OF AMERICA'S LOVE OF THE VEHICLE; FOSTERING EXPERIENCES WHICH CONNECT PEOPLE WITH THE HISTORY, HERITAGE, AND SOCIAL IMPACT OF THE VEHICLE THROUGH COLLECTING, PRESERVING AND INTERPRETING THE STORIES OF ANTIQUE VEHICLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Reynolds Secretary / Treasurer | OfficerTrustee | 1 | $0 |
Janice Holmes Chairman Of The Board | OfficerTrustee | 1 | $0 |
Glenn Floyd Board Member | Trustee | 1 | $0 |
Frank Watson Board Member (until 8/22) | Trustee | 1 | $0 |
Richard Vining Executive Director | Officer | 40 | $85,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,535 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $331,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $342,145 |
| Total Program Service Revenue | $66,539 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $36,560 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $445,244 |
| 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. | $85,000 |
| Compensation of current officers, directors, key employees. | $42,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,372 |
| Pension plan accruals and contributions | $15,396 |
| Other employee benefits | $27,686 |
| Payroll taxes | $11,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38 |
| Fees for services: Accounting | $8,816 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,535 |
| Office expenses | $3,694 |
| Information technology | $3,695 |
| Royalties | $0 |
| Occupancy | $98,553 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29,399 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,877 |
| Insurance | $23,770 |
| All other expenses | $1,514 |
| Total functional expenses | $396,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,756 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $389 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,250 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $56,998 |
| Investments—publicly traded securities | $178,942 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $486,335 |
| Accounts payable and accrued expenses | $6,320 |
| 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 | $0 |
| Total liabilities | $6,320 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $480,015 |
| Total liabilities and net assets/fund balances | $486,335 |