Margaret Woodbury Strong Museum Charitable Trust in Chicago, Illinois (IL)

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Margaret Woodbury Strong Museum Charitable Trust
Employer Identification Number (EIN)166169480
Name of OrganizationMargaret Woodbury Strong Museum Charitable Trust
In Care of NameJpmorgan Svcs Inc
Address10 S Dearborn Fl 21, Chicago, IL 60603-2300
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date08/1974
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$69,493,545
Amount of Income$17,053,026
Form 990 Revenue Amount$3,836,032
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Single Organization Support


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Amount of income in 2012: $17,053,026
Margaret Woodbury Strong Museum Charitable Trust: 

 $17,053,026
Other organizations performing similar types of work: 

 $202,431

Assets in 2012: $69,493,545
Margaret Woodbury Strong Museum Charitable Trust: 

 $69,493,545
Other organizations performing similar types of work: 

 $442,684

Expenses in 2012: $4,361,697
Margaret Woodbury Strong Museum Charitable Trust: 

 $4,361,697
Other organizations performing similar types of work: 

 $108,984

Income to expenses ratio in 2012: 3.9
Margaret Woodbury Strong Museum Charitable Trust: 

 3.9
Other organizations performing similar types of work: 

 3.4

Expenses allocated to program services in 2007: 93.4%
Margaret Woodbury Strong Museum Charitable Trust: 

 93.4%
Other organizations performing similar types of work: 

 86.2%

Grants share in income in 2012: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 35.8%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$3,836,032
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,125,384
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net loss from sales of assets other than inventory$-838,811
Gross amount from sales of assets other than inventory (Securities / Other)$12,378,183 / $0
Less: cost or other basis and sales expenses (Securities / Other)$13,216,994 / $0
Gain or (loss) (Securities / Other)$-838,811 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$3,549,459
Statement of Functional Expenses (for 2012)
Total functional expenses$4,361,697
Compensation of current officers, directors, trustees, and key employees$216,196
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$4,145,501
Balance Sheet (for 2012)
Total assets$69,493,545
Total liabilities$0
Total net assets or fund balances$69,493,545
Retained earnings, endowment, accumulated income, or other funds$69,493,545
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200520062007
Total revenue$8,784,650$6,402,795$7,101,520
Contributions, gifts, grants, and similar amounts received$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$0$0$0
Dividends and interest from securities$1,830,427$2,149,895$2,224,759
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$6,954,223$4,252,900$4,876,761
Gross amount from sales of assets other than inventory$78,393,951$36,611,155$4,876,761
Less: cost or other basis and sales expenses$71,439,728$32,358,255$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$4,657,088$4,627,476$4,669,929
Program services$4,382,768$4,296,985$4,359,647
Management and general$274,320$330,491$310,282
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$77,878,422$79,970,901$82,312,722
Excess or (deficit) for the year$4,127,562$1,775,319$2,431,591
Net assets or fund balances at beginning of year$74,016,166$77,878,422$79,970,901
Other changes in net assets or fund balances$-265,306$317,160$-89,770
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$4,669,929$4,359,647$310,282$0
Grants paid from donor advised funds$0
Other grants and allocations$4,359,647
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$246,563$0$246,563$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$63,719$0$63,719$0
Balance Sheets
200520062007
Total assets$77,878,422$79,970,901$83,985,073
Cash - non-interest-bearing$1,250,583$1,399,299$0
Savings and temporary cash investments$1,500,000$543,778$1,885,654
Accounts receivable less allowance for doubtful accounts$1,654$318,081$274,144
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities$55,460,561$56,845,372
Investments - other securities$58,671,029$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$7,162,466$10,248,682$2,717,406
Land, buildings, and equipment less accumulated depreciation$0$0$0
Other assets, including program-related investments$9,292,690$12,000,500$22,262,497
Total liabilities$0$0$1,672,351
Accounts payable and accrued expenses$0$0$0
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$1,672,351
Total liabilities and net assets/fund balances$77,878,422$79,970,901$83,985,073
Total net assets or fund balances$77,878,422$79,970,901$82,312,722
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200520062007
Total revenue$0$0$7,101,520
Total revenue, gains, and other support per audited financial statements$0$0$7,101,520
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200520062007
Total expenses$0$0$4,669,929
Total expenses and losses per audited financial statements$0$0$4,669,929
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
15$246,563$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$7,101,520$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,224,759$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$4,876,761$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType III
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
160954168Margaret Woodbury Strong MuseumCommunity TrustYes$4,359,647
Total$4,359,647
Support Schedule
200420052006
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Margaret Woodbury Strong Museum Charitable Trust10 S Dearborn Fl 21, Chicago, IL 60603-2300IL1974-08$17,053,026
2Cincinnati Museums Foundation1301 Western Ave, Cincinnati, OH 45203-1138OH2011-06$7,392,279
3Air Zoo Legacy Foundation6151 Portage Rd, Portage, MI 49002-3003MI2009-04$2,720,942
4Seattle Art Museum Foundation1300 1st Ave, Seattle, WA 98101-2003WA1993-04$2,239,857
5U S Space & Rocket Center Foundation1 Tranquility Base, Huntsville, AL 35805-3371AL2002-03$2,022,595
6Soldiers And Sailors Memorial Hall And Museum Trust Inc4141 5th Ave, Pittsburgh, PA 15213-3547PA1999-06$1,865,192
7San Antonio Public Library Foundation625 Shook Ave, San Antonio, TX 78212-5343TX1983-11$1,754,298
8Antiquarian Society Of The Art Institute Of Chicago111 S Michigan Ave, Chicago, IL 60603-6492IL1945-04$1,386,702
9The Conservancy For The Parthenon And Centennial ParkPO BOX 196340, Nashville, TN 37219-6340TN1985-06$1,118,578
10Sir John Soanes Museum Foundation1040 1st Ave, New York, NY 10022-2991NY1991-10$990,553
11Sci-Port Foundation820 Clyde Fant Pkwy, Shreveport, LA 71101-3667LA2001-08$940,053
12South Carolina State Museum Foundation301 Gervais Street Loading Zone D, Columbia, SC 29201SC1981-09$684,840
13Robert Brady Museum Foundation1326 Albany St Apt 2, Abilene, TX 79605-5069TX2010-12$644,211
14The Morris Museum Foundation Inc6 Normandy Heights Rd, Morristown, NJ 07960-4612NJ1992-02$577,995
15Cahokia Mounds Museum Society30 Ramey Dr, Collinsville, IL 62234-7617IL1978-08$402,535
16Grove Heritage Association IncPO BOX 484, Glenview, IL 60025-0484IL1976-07$380,533
17Elmhurst Heritage Foundation120 E Park Ave, Elmhurst, IL 60126-3420IL1994-11$352,799
18Meeting Of The Rivers Foundation IncPO BOX 337, Alton, IL 62002-0337IL1999-02$22,618
19Friends Of The Chicago Gay And Lesbian Hall Of Fame7550 N Claremont Ave 2, Chicago, IL 60645IL2010-12$0
20Friends Of The West Chicago City Museum Inc132 Main Street, West Chicago, IL 60185IL2006-01$0
Number of organizations performing similar types of work
Alaska2
Alabama17
Arkansas3
Arizona2
California26
Colorado9
Connecticut3
District of Columbia5
Delaware2
Florida20
Georgia7
Hawaii1
Iowa7
Illinois8
Indiana3
Kansas3
Kentucky1
Louisiana8
Massachusetts5
Maryland7
Maine3
Michigan5
Minnesota2
Missouri4
Mississippi1
Montana2
North Carolina8
North Dakota1
Nebraska5
New Jersey8
New Mexico5
Nevada3
New York22
Ohio6
Oklahoma9
Oregon8
Pennsylvania13
Rhode Island4
South Carolina1
Tennessee3
Texas19
Utah2
Virginia8
Vermont4
Washington6
Wisconsin6
West Virginia1
Wyoming2
International2
Total302

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