Western Museum Of Mining & Industry
- Assets
- $1.2m
- Revenue
- $640.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Colorado Springs, CO
- Founding
- 09/1971
- Data as of
- 12/2021
- EIN
- 84-0603781
Organization Overview
Western Museum Of Mining & Industry is located in Colorado Springs, CO. The organization was established in 1971. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Western Museum Of Mining & Industry employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Museum Of Mining & Industry 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, Western Museum Of Mining & Industry generated $640.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $785.5k during the year ending 12/2021. While expenses have increased by 12.7% 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
THE MUSEUM'S MISSION IS TO EDUCATE THE PUBLIC ABOUT THE HISTORY AND CONTINUING CONTRIBUTIONS OF MINING, RANCHING, AND OTHER SUPPORTING INDUSTRIES IN THE AMERICAN WEST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITION OF HISTORICAL ARTIFACTS RELATED TO MINING INDUSTRY HELPS EDUCATE THE PUBLIC ABOUT THE IMPACT OF MINING ON THE HISTORY OF THE AMERICAN WEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grant Dewey Executive Di | Officer | 55 | $72,200 |
Woodward Brown President | OfficerTrustee | 2 | $0 |
Steve Veatch Secretary | OfficerTrustee | 2 | $0 |
Randall Leifer Vice Preside | OfficerTrustee | 2 | $0 |
William Sanden Treasurer | OfficerTrustee | 2 | $0 |
Dianne Reitan Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,996 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $53,215 |
| All other contributions, gifts, grants, and similar amounts not included above | $264,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $329,011 |
| Total Program Service Revenue | $216,533 |
| Investment income | $468 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $67,672 |
| 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 | $17,175 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $640,252 |
| 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. | $76,087 |
| Compensation of current officers, directors, key employees. | $39,487 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $182,010 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,987 |
| Payroll taxes | $24,081 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,767 |
| Fees for services: Accounting | $14,184 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,241 |
| Office expenses | $18,353 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,067 |
| Travel | $6 |
| 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 | $16,080 |
| Insurance | $29,572 |
| All other expenses | $12,108 |
| Total functional expenses | $785,474 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,194 |
| Savings and temporary cash investments | $170,903 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $960 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,425 |
| Prepaid expenses and deferred charges | $5,439 |
| Net Land, buildings, and equipment | $338,179 |
| Investments—publicly traded securities | $621,215 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,159,315 |
| Accounts payable and accrued expenses | $29,438 |
| 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 | $29,438 |
| Net assets without donor restrictions | $1,097,160 |
| Net assets with donor restrictions | $32,717 |
| 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 | $1,159,315 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Western Museum Of Mining & Industry has recieved totaling $22,234.
| Awarding Organization | Amount |
|---|---|
Myron Stratton Home Colorado Springs, CO PURPOSE: BOARD ELECTED PROACTIVE GRANT | $15,000 |
G M White Charitable Tr Chicago, IL PURPOSE: GENERAL | $3,228 |
Humphreys Foundation Denver, CO PURPOSE: EXHIBITION OF CULTURAL MINING HISTORY | $2,000 |
The Joseph Henry Edmondson Foundation Colorado Springs, CO PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Spidell Foundation Monument, CO PURPOSE: OPERATIONAL | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Bill Memorial Association Cody, WY | $124,253,883 | $15,385,137 |
United States Olympic Museum Colorado Springs, CO | $105,893,156 | $12,173,227 |
Orrin G Hatch Foundation Salt Lake City, UT | $20,026,805 | $2,966,920 |
This Is The Place Foundation Salt Lake City, UT | $18,452,437 | $7,731,994 |
Museum Of Northern Arizona Inc Flagstaff, AZ | $21,755,182 | $7,019,493 |
Colorado Railroad Historical Foundation Inc Golden, CO | $11,069,630 | $3,773,051 |
Stuhr Museum Of The Prairie Pioneer Grand Island, NE | $6,589,907 | $1,816,416 |
National Atomic Museum Foundation Albuquerque, NM | $7,001,482 | $2,166,618 |
Boot Hill Museum Inc Dodge City, KS | $8,102,967 | $1,858,264 |
Steamboat Springs Chamber Steamboat Springs, CO | $1,219,063 | $1,684,300 |
Museum Of The Great Plains Authority Lawton, OK | $7,377,490 | $986,332 |
Museum Of Western Colorado Grand Junction, CO | $5,482,954 | $1,916,272 |