Trustees Of The Berkshire Museum in Pittsfield, Massachusetts (MA)

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Trustees Of The Berkshire Museum
Employer Identification Number (EIN)042103878
Name of OrganizationTrustees Of The Berkshire Museum
Address39 South St, Pittsfield, MA 01201-6108
ActivitiesFair, Industry trade shows, Other school related activities
SubsectionCharitable Organization, Scientific Organization
Ruling Date05/1940
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$19,727,795
Amount of Income$5,646,910
Form 990 Revenue Amount$3,100,231
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Museum, Museum Activities


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Amount of income in 2014: $5,646,910
This organization: 

 $5,646,910
Other organizations performing similar types of work: 

 $433,282

Assets in 2014: $19,727,795
Trustees Of The Berkshire Museum: 

 $19,727,795
Other organizations performing similar types of work: 

 $1,224,023

Expenses in 2014: $2,639,035
Trustees Of The Berkshire Museum: 

 $2,639,035
Other organizations performing similar types of work: 

 $338,913

Income to expenses ratio in 2014: 2.1
This organization: 

 2.1
Other organizations performing similar types of work: 

 1.5

Expenses allocated to program services in 2007: 40.1%
This organization: 

 40.1%
Other organizations performing similar types of work: 

 70.3%

Number of employees in 2014: 41
Trustees Of The Berkshire Museum: 

 41
Other organizations performing similar types of work: 

 9

Employees paid over $100,000 in 2014: 12.2%
Trustees Of The Berkshire Museum: 

 12.2%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2014: 70.4%
This organization: 

 70.4%
Other organizations performing similar types of work: 

 70.6%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?YesYesYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYesYes
Did the organization report an amount for land, buildings, and equipment?YesYesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other liabilities?YesYesNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNoNo
Did the organization operate one or more hospital facilities?NoNoNo
Did the organization attach a copy of its audited financial statements?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesNoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNoNo
A family member of a current or former officer, director, trustee, or key employee?NoNoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYesYes
Did the organization receive more than $25,000 in non-cash contributions?YesNoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNoNo
Was the organization related to any tax-exempt or taxable entity?NoNoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 1096262420
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return514341
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$172,891$208,672$205,341
Total reportable compensation from related organizations$0$0$0
Total estimated amount of other compensation from the organization and related organizations$7,510$7,626$8,004
Total number of individuals who received more than $100,000 of reportable compensation from the organization011
Total number of independent contractors who received more than $100,000 of compensation from the organization104
Statement of Revenue
2011201220132014
Total revenue$1,814,761$1,636,051$1,998,750$3,100,231
Contributions, Gifts, Grants and Other Similar Amounts$630,062$795,789$1,021,544$2,181,723
Program Service Revenue$394,987$338,836$366,466$370,292
900099$161,964$215,360$210,147
900099$84,283$106,470$102,061
900099$67,353$42,136$55,584
900099$25,236$2,500$2,500
All other program service revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$241,893$206,905$156,910$159,438
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$252,299$97,416$156,918$264,415
Gross amount from sales of assets other than inventory (Securities / Other)$4,942,699 / $0$8,781,749 / $0$6,759,499 / $0$2,723,492 / $0
Less: cost or other basis and sales expenses (Securities / Other)$4,690,400 / $0$8,684,333 / $0$6,602,581 / $0$2,459,077 / $0
Gain or (loss) (Securities / Other)$252,299 / $0$97,416 / $0$156,918 / $0$264,415 / $0
Net income/loss from fundraising events$237,092$150,827$243,536$49,599
Gross income from fundraising events$271,777$161,855$282,200$88,780
Less: direct expenses$34,685$11,028$38,664$39,181
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$37,676$19,713$31,269$50,640
Gross sales of inventory, less returns and allowances$54,216$48,557$74,243$99,061
Less: cost of goods sold$16,540$28,844$42,974$48,421
Miscellaneous Revenue$20,752$26,565$22,107$24,124
900099$19,905$15,283$19,379
900099$6,660$6,824$4,745
All other revenue$0$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$2,385,346$2,551,421$2,757,420$2,639,035
Grants and other assistance to domestic organizations and domestic governments$0$0$0
Grants and other assistance to domestic individuals$0$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$135,290$200,142$225,674$220,523
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$736,020$827,420$954,758$940,274
Pension plan accruals and contributions$0$0$0
Other employee benefits$60,761$69,896$78,298
Payroll taxes$85,590$67,603$82,576$86,073
Fees for services (non-employees)
Management$0$0$0
Legal$714$944$139
Accounting$16,500$16,500$17,525
Lobbying$0$0$0
Professional fundraising services$0$0$0$0
Investment management fees$56,126$45,320$51,162
Other$525$82,797$82,962
Advertising and promotion$108,130$163,600$137,488
Office expenses$125,470$83,119$97,429
Information technology$44,194$0$0
Royalties$0$0$0
Occupancy$264,680$283,600$301,707
Travel$4,734$1,529$2,795
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$16,757$12,680$1,319
Interest$17,435$14,026$19,194
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$325,371$335,638$334,464
Insurance$27,387$0$0
Other expenses$289,802$83,880$76,334
Other expenses$47,522$80,000$45,126
Other expenses$33,997$45,822$18,250
Other expenses$15,159$45,365$4,474
Other expenses$992$129,696$123,499
Balance Sheet
2011201220132014
Total assets$19,075,029$17,329,538$17,058,130$19,727,795
Cash - non-interest-bearing$8,374$0$453,658
Savings and temporary cash investments$2,937,391$298,331$0
Pledges and grants receivable, net$568,843$405,835$305,212
Accounts receivable, net$98,600$34,025$72,977
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$14,744$20,231$29,896
Prepaid expenses and deferred charges$27,478$21,811$26,435
Land, buildings, and equipment: cost or other basis$8,781,751$8,613,524$10,340,183
Investments - publicly traded securities$4,890,551$7,664,373$8,499,434
Investments - other securities$0$0$0
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$1,806$0$0
Total liabilities$1,261,202$836,588$827,653$2,162,251
Accounts payable and accrued expenses$167,764$225,430$843,689
Grants payable$0$0$0
Deferred revenue$10,700$17,727$17,225
Tax-exempt bond liabilities$348,850$121,200$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$485,821$494,574$494,574$1,301,337
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$42,350$89,922$0
Total net assets or fund balances$17,813,827$16,492,950$16,230,477$17,565,544
Unrestricted net assets$16,071,811$15,437,128$17,127,775
Temporarily restricted net assets$184,225$500,507$113,380
Permanently restricted net assets$236,914$292,842$324,389
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$4,239,025
Subtotal Support$5,484,568
Gifts, grants, contributions, and membership fees received$5,484,568
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$1,245,543
Total Support$6,555,635
Public Support$5,484,568
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$979,524
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$91,543
Gross receipts from related activities, etc.$2,860,347
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$327,120$652,274$1,627,406$1,836,969$3,125,248$4,024,955$5,300,101$5,792,412
Contributions, gifts, grants, and similar amounts received$390,967$425,710$718,313$471,497$1,634,103$2,708,433$3,642,254$4,436,230
Contributions to donor advised funds$0$0
Direct public support$390,967$425,710$617,823$355,133$984,371$2,341,523$3,378,569$4,425,297
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$100,490$116,364$649,732$366,910$263,685$10,933
Program service revenue including government fees and contracts$333,617$357,020$455,721$485,190$568,154$576,932$565,925$397,600
Membership dues and assessments$143,662$135,142$163,992$156,269$193,882$202,144$189,008$192,708
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$5,218
Dividends and interest from securities$164,283$133,350$140,398$123,316$117,685$107,747$129,061$127,879
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$453,549$818,769$52,544$92,293$213,364$150,558$123,970$532,834
Gross amount from sales of assets other than inventory$3,100,479$4,013,272$4,638,119$575,427$1,117,294$794,955$1,812,123$2,302,180
Less: cost or other basis and sales expenses$2,646,930$3,194,503$4,585,575$483,134$903,930$644,397$1,688,153$1,769,346
Net income or (loss) from special events and activities$124,036$54,285$148,648$46,165$196,694$78,138$211,983$43,319
Gross revenue$227,231$114,552$249,073$103,692$288,404$143,090$338,007$139,545
Less: direct expenses other than fundraising expenses$103,195$60,267$100,425$57,527$91,710$64,952$126,024$96,226
Gross profit or (loss) from sales of inventory$4,685$3,711$5,773$77,653$89,455$67,812$64,520$50,115
Gross sales of inventory, less returns and allowances$152,734$151,066$160,860$174,256$178,628$128,982$122,939$133,557
Less: cost of goods sold$148,049$147,355$155,087$96,603$89,173$61,170$58,419$83,442
Other revenue$-1,287,679$-1,275,713$-57,983$384,586$111,911$133,191$373,380$6,509
Total expenses$1,646,004$1,694,193$1,804,592$1,882,616$2,431,327$2,392,056$2,388,789$2,674,626
Program services$454,972$608,343$632,368$567,316$728,115$596,607$1,171,158$1,072,907
Management and general$1,021,607$977,046$1,033,274$1,177,445$1,295,142$1,685,449$715,855$958,444
Fundraising$169,425$108,804$138,950$137,855$408,070$110,000$501,776$643,275
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$6,511,940$5,470,021$5,316,554$5,270,907$5,964,828$7,597,727$10,509,039$12,796,036
Excess or (deficit) for the year$-1,318,884$-1,041,919$-177,186$-45,647$693,921$1,632,899$2,911,312$3,117,786
Net assets or fund balances at beginning of year$7,830,824$6,511,940$5,470,021$5,316,554$5,270,907$5,964,828$7,597,727$10,509,039
Other changes in net assets or fund balances$0$0$23,719$0$0$0$0$-830,789
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,674,626$1,072,907$958,444$643,275
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$114,875$0$114,875$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$922,326$294,590$428,311$199,425
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$61,966$17,605$32,443$11,918
Payroll taxes$73,015$20,456$38,711$13,848
Professional fundraising fees$74,090$0$0$74,090
Accounting fees$74,709$2,910$26,244$45,555
Legal fees$0$0$0$0
Supplies$59,421$33,943$15,855$9,623
Telephone$13,299$0$13,299$0
Postage and shipping$45,960$2,974$15,775$27,211
Occupancy$167,131$146,927$15,951$4,253
Equipment rental and maintenance$0$0$0$0
Printing and publications$124,242$1,376$44,778$78,088
Travel$2,454$2,296$158$0
Conferences, conventions, and meetings$2,390$0$2,390$0
Interest$37,055$25,672$10,793$590
Depreciation, depletion, etc.$214,264$184,657$23,374$6,233
Other expenses not covered above$687,429$339,501$175,487$172,441
Balance Sheets
20002001200220032004200520062007
Total assets$6,811,454$5,768,184$5,670,612$5,777,493$6,810,039$8,113,413$11,041,130$17,531,868
Cash - non-interest-bearing$279,290$267,546$117,183$44,201$139,167$188,863$620,868$1,045,398
Savings and temporary cash investments$0$0$0$0$0$0$424,505$1,075,629
Accounts receivable less allowance for doubtful accounts$3,237$2,622$52,868$39,191$49,888$85,244$16,442$1,284
Pledges receivable less allowance for doubtful accounts$0$20,059$57,500$0$478,092$1,584,290$3,013,733$4,016,253
Grants receivable$17,690$70,209$92,077$92,968$184,482$8,769$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$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$0$0$0$0$0
Inventories for sale or use$31,189$39,577$49,521$42,621$44,786$38,690$37,999$43,358
Prepaid expenses and deferred charges$52,777$49,825$26,350$50,772$35,089$29,995$30,733$54,668
Investments - publicly-traded securities$4,195,875$2,338,770
Investments - other securities$5,161,464$4,138,161$3,984,167$4,041,854$3,850,730$3,845,276$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$1,177,507$1,165,323$1,290,946$1,465,886$1,942,642$2,244,793$2,700,975$8,904,008
Other assets, including program-related investments$88,300$14,862$0$0$85,163$87,493$0$52,500
Total liabilities$299,514$298,163$354,058$506,586$845,211$515,686$532,091$4,735,832
Accounts payable and accrued expenses$164,479$81,438$133,765$138,707$445,280$210,207$445,197$660,916
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$16,447$97,738$101,558$161,809$248,368$164,314$17,667$24,860
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$3,500,000
Mortgages and other notes payable$118,588$118,588$118,191$205,518$151,174$140,559$68,839$549,627
Other liabilities$0$399$544$552$389$606$388$429
Total liabilities and net assets/fund balances$6,811,454$5,768,184$5,670,612$5,777,493$6,810,039$8,113,413$11,041,130$17,531,868
Total net assets or fund balances$6,511,940$5,470,021$5,316,554$5,270,907$5,964,828$7,597,727$10,509,039$12,796,036
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$315,971$625,470$1,627,406$1,836,969$3,125,248$4,024,955$5,300,101$5,792,412
Total revenue, gains, and other support per audited financial statements$315,971$625,470$1,922,818$1,991,099$3,306,711$4,151,077$5,505,731$5,157,535
Other expenses$0$0$295,412$154,130$181,463$126,122$215,893$-622,995
Net unrealized gains on investments$0$0$0$0$0$0$0$-830,789
Donated services and use of facilities$0$0$39,900$0$580$0$31,450$28,126
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$255,512$154,130$180,883$126,122$184,443$179,668
Other revenue$0$0$0$0$0$0$10,263$11,882
Investment expenses$0$0$0$0$0$0$10,263$11,882
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$1,646,004$1,667,389$1,804,592$1,911,586$2,431,327$2,392,056$2,388,789$2,674,626
Total expenses and losses per audited financial statements$1,646,004$1,667,389$2,100,004$2,065,716$2,612,790$2,518,178$2,594,419$2,870,538
Other revenue$0$0$295,412$154,130$181,463$126,122$215,893$207,794
Donated services and use of facilities$0$0$39,900$0$580$0$31,450$28,126
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$255,512$154,130$180,883$126,122$184,443$179,668
Other expenses$0$0$0$0$0$0$10,263$11,882
Investment expenses$0$0$0$0$0$0$10,263$11,882
Other$0$0$0$0$0$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
38$114,002$873$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings22
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?No
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, 200645
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$765,874$590,308
Program service revenue
Program service revenue 1000000$000$0$78,442
Program service revenue 2000000$000$0$125,854
Program service revenue 3000000$000$0$104,156
Program service revenue 4000000$000$0$54,376
Program service revenue 5000000$000$0$34,772
000000$000$0$78,442
000000$000$0$125,854
000000$000$0$104,156
000000$000$0$54,376
000000$000$0$19,435
000000$000$0$10,086
000000$000$0$3,585
000000$000$0$1,666
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$192,708
Interest on savings and temporary cash investments000000$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)$5,218$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)$127,879$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))$532,834$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$43,319$0
Gross profit or (loss) from sales of inventory000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$50,115$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$6,509$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
$59,326$952$0
$65,767$6,211$0
$53,754$492$0
$61,108$3,376$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 isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$1,713,703$1,682,589$1,315,086$1,888,357$1,492,357$2,042,600$2,912,261$3,669,191
Gifts, grants, and contributions received$623,015$724,584$423,341$718,313$531,864$984,224$1,777,948$2,221,580
Membership fees received$116,808$143,662$135,142$163,992$156,269$193,882$202,144$189,008
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$786,573$650,060$623,253$865,654$673,123$736,085$813,648$1,095,673
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$187,307$164,283$133,350$140,398$129,916$125,052$113,443$137,489
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$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$0$0$0$0$0
Other income$0$0$0$0$1,185$3,357$5,078$25,441
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
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1Peabody Essex Museum IncEast India Sq, Salem, MA 01970MA1993-01$202,660,986
2Trustees Of The Berkshire Museum39 South St, Pittsfield, MA 01201-6108MA1940-05$5,646,910
3Smith Museum Of Stained Glass Windows And American Art20 N Wacker Drive, Chicago, IL 60606-2806IL1994-05$838,665
4Witte Museum3801 Broadway St, San Antonio, TX 78209-6309TX1932-11$20,214,005
5Studio Museum In Harlem Inc144 W 125th Street, New York, NY 10027-4423NY1967-11$11,364,824
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7Uss Constitution Museum IncPO BOX 291812, Charlestown, MA 02129-0215MA1973-01$8,440,275
8Naismith Memorial Basketball Hall Of Fame Inc 1150 West Columbus Ave1000 Hall Of Fame Avenue, Springfield, MA 01105-2538MA1959-11$6,786,887
9Yankee Air Force IncorporatedPO BOX 590, Belleville, MI 48112-0590MI1982-02$4,557,797
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11Uss Massachusetts Memorial Comm Inc5 Water Street Battleship Cove, Fall River, MA 02721MA1964-05$2,797,250
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16Antique Auto Museum Of Mass At Larz Anderson Park Inc15 Newton St, Brookline, MA 02445-7406MA1971-09$684,762
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Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas6
Arizona11
California72
Colorado12
Connecticut16
District of Columbia3
Delaware3
Florida25
Georgia11
Hawaii10
Iowa15
Idaho4
Illinois33
Indiana16
Kansas18
Kentucky9
Louisiana6
Massachusetts17
Maryland13
Maine13
Michigan18
Minnesota7
Missouri14
Mississippi3
Montana3
North Carolina12
North Dakota3
Nebraska2
New Hampshire8
New Jersey14
New Mexico10
Nevada2
New York48
Ohio33
Oklahoma14
Oregon7
Pennsylvania20
Rhode Island2
South Carolina5
South Dakota7
Tennessee13
Texas39
Utah2
Virginia13
Vermont5
Washington13
Wisconsin12
West Virginia2
Wyoming2
International1
Total651

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