Civic Intelligence

Shelburne Museum Incorporated

990 • Fiscal year 2014 • EIN 03-0179436

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 24, 2015

US Route 7 PO Box 10Shelburne, VT 05482

(802) 985-3346

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.03x

Higher debt load relative to assets than 14% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

31st percentile

0.22x

Higher debt load relative to revenue than 31% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

62nd percentile

8.0%

Higher net margin than 62% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

27th percentile

$215,007

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

12th percentile

-4.1%

Faster asset growth than 12% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

15th percentile

-12%

Faster revenue growth than 15% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Down

$60,045,388

Down $2,535,120 (-4.1%) from 2013

Net Assets

Down

$58,487,730

Down $1,982,091 (-3.3%) from 2013

Liabilities

Down

$1,557,658

Down $553,029 (-26%) from 2013

Revenue

Down

$7,232,480

Down $970,155 (-12%) from 2013

Expenses

Up

$6,650,771

Up $218,680 (+3.4%) from 2013

Net Income

Down

$581,709

Down $1,188,835 (-67%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $57,311,024Liabilities 2010: $1,960,484Net Assets 2010: $55,350,5402010Assets 2011: $56,384,973Liabilities 2011: $2,073,228Net Assets 2011: $54,311,7452011Assets 2012: $58,162,893Liabilities 2012: $2,381,540Net Assets 2012: $55,781,3532012Assets 2013: $62,580,508Liabilities 2013: $2,110,687Net Assets 2013: $60,469,8212013Assets 2014: $60,045,388Liabilities 2014: $1,557,658Net Assets 2014: $58,487,7302014Assets 2015: $49,289,960Liabilities 2015: $1,531,951Net Assets 2015: $47,758,0092015Assets 2016: $47,788,563Liabilities 2016: $1,590,888Net Assets 2016: $46,197,6752016Assets 2017: $48,570,801Liabilities 2017: $1,474,165Net Assets 2017: $47,096,6362017Assets 2018: $46,446,767Liabilities 2018: $1,893,248Net Assets 2018: $44,553,5192018Assets 2019: $48,285,196Liabilities 2019: $1,848,595Net Assets 2019: $46,436,6012019Assets 2020: $44,310,171Liabilities 2020: $1,816,197Net Assets 2020: $42,493,9742020Assets 2021: $52,755,380Liabilities 2021: $2,421,261Net Assets 2021: $50,334,1192021Assets 2022: $56,455,494Liabilities 2022: $1,674,270Net Assets 2022: $54,781,2242022Assets 2023: $52,308,238Liabilities 2023: $1,605,392Net Assets 2023: $50,702,8462023Assets 2024: $52,000,767Liabilities 2024: $1,480,570Net Assets 2024: $50,520,1972024Assets 2025: $61,637,712Liabilities 2025: $1,390,285Net Assets 2025: $60,247,4272025

Highlighted filing

2014

Assets$60,045,388
Liabilities$1,557,658
Net Assets$58,487,730

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MExpenses 2010: $5,538,0452010Expenses 2011: $5,704,7142011Expenses 2012: $5,852,5682012Revenue 2013: $8,202,635Expenses 2013: $6,432,091Net Income 2013: $1,770,5442013Revenue 2014: $7,232,480Expenses 2014: $6,650,771Net Income 2014: $581,7092014Revenue 2015: $5,887,118Expenses 2015: $6,624,274Net Income 2015: -$737,1562015Revenue 2016: $2,907,070Expenses 2016: $6,648,591Net Income 2016: -$3,741,5212016Revenue 2017: $5,282,069Expenses 2017: $6,774,923Net Income 2017: -$1,492,8542017Revenue 2018: $8,754,143Expenses 2018: $7,292,984Net Income 2018: $1,461,1592018Revenue 2019: $1,425,840Expenses 2019: $1,633,336Net Income 2019: -$207,4962019Revenue 2020: $5,512,578Expenses 2020: $7,317,101Net Income 2020: -$1,804,5232020Revenue 2021: $7,305,062Expenses 2021: $5,781,458Net Income 2021: $1,523,6042021Revenue 2022: $11,449,784Expenses 2022: $6,603,440Net Income 2022: $4,846,3442022Revenue 2023: $6,856,793Expenses 2023: $7,866,549Net Income 2023: -$1,009,7562023Revenue 2024: $5,151,469Expenses 2024: $8,977,815Net Income 2024: -$3,826,3462024Revenue 2025: $19,058,612Expenses 2025: $9,678,671Net Income 2025: $9,379,9412025

Highlighted filing

2014

Revenue$7,232,480
Expenses$6,650,771
Net Income$581,709
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 24, 2015
Return Version
2014v5.0
Gross Receipts
$7,588,009
Mission and Program Overview

Mission

To broaden our audience, engage their curiosity, animate their creativity, and give them an extraordinary, educational museum experience.

The purpose of the shelburne museum is to enrich people's lives through art, history and culture. The mission is to broaden our audience, engage their curiosity and give them an extraordinary museum experience. This mission is accomplished using the following guiding principles: fulfilling the legacy of electra havemeyer webb; collecting art and artifacts of the highest artistic and historical merit; preserving, interpreting, and making broadly accessible the museum's collections; celebrating american ingenuity, creativity and crafsmanship; imparting a deeper understanding of new england's heritage; providing an educational and enjoyable experience for our audiences; assuming a special responsibility for serving vermonters; valuing the contribution of the museum's staff and volunteers; achieving the highest standards of professionalism.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$31,146,895$28,825,663▼ $2,321,232
Land, Buildings, and Equipment, Net$21,258,186$20,853,048▼ $405,138
Pledges and Grants Receivable$2,757,209$1,939,837▼ $817,372
Cash and Non-Interest-Bearing Accounts$448,212$1,092,354▲ $644,142
Investments Other Securities$355,636--
Savings and Temporary Cash Investments$25,676$264,470▲ $238,794
Inventories for Sale or Use$218,842$208,465▼ $10,377
Prepaid Expenses and Deferred Charges$45,621$61,685▲ $16,064
Accounts Receivable$5,023$52,055▲ $47,032
Intangible Assets$484--
Total Assets$62,580,508$60,045,388▼ $2,535,120
Other Assets Total$6,318,724$6,747,811▲ $429,087
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,837,213$961,806▼ $875,407
Unsecured Notes Loans Payable-$348,967-
Deferred Revenue$215,375$275,824▲ $60,449
Accounts Payable and Accrued Expenses$58,099$-28,939▼ $87,038
Total Liabilities$2,110,687$1,557,658▼ $553,029
Net Assets / Fund Balance
Unrestricted Net Assets$54,579,710$52,844,018▼ $1,735,692
Temporarily Rstr Net Assets$5,083,721$4,837,322▼ $246,399
Permanently Rstr Net Assets$806,390$806,390→ $0
Total Net Assets Fund Balance$60,469,821$58,487,730▼ $1,982,091
Total Liabilities and Net Assets / Fund Balance$62,580,508$60,045,388▼ $2,535,120

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,901,100$5,559,848$24,460,948
Equipment$799,405$921,662$1,721,067
Land$985,940-$985,940
Leasehold Improvements$158,652$512,256$670,908
Other Land Buildings$7,951$76,788$84,739
Other Assets Org$6,747,811--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$31,144,894-▲ $512,003$2,833,234$28,823,663
2013$29,646,295-▲ $3,804,748$2,306,149$31,144,894
2012$28,974,532$25,000▲ $2,870,636$2,223,873$29,646,295
2011$31,162,962$100▼ $70,387$2,118,143$28,974,532
2010$31,163,874$520,048▲ $189,117$2,148,077$31,162,962
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas DenenbergDirectorFT$188,193$26,814$215,007

Highest Paid Contractors

ContractorServicesLocationCompensation
PC ConstructionConstruction193 TILLEY DRIVE, South Burlington, VT 05403$106,000
Revenue and Support

Revenue Composition

Contributions and Grants
$2,728,986
Program Service Revenue
$1,148,974
Investment Income
$3,060,686
Other Revenue
$293,834
All Other Contributions
$2,330,353
Change in Net Assets
$581,709

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded18$437,191Fair Market Value (FMV) Value on Date of Gift
Works of Art1$300,000Appraisal
Art Historical Treasures7$143,594Appraisal or Estimate
Total Noncash Contributions26$880,785-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,232,480
Revenue Not Reported on Form 990
$-2,286,889
Total Revenue per Audited Statements
$4,945,591
Total Revenue per Form 990
$7,232,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,146,506
Other Expenses$2,504,265
Total Fundraising Expense$423,447
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,561,817$368,278$171,591$3,101,686
Depreciation Depletion$622,755$123,954-$746,709
Other Employee Benefits$270,272$77,469$25,093$372,834
Payroll Taxes$272,940$59,329$19,370$351,639
Occupancy$62,925$251,340-$314,265
Current Officers, Directors, Trustees, and Key Employees$86,003$64,502$64,502$215,007
Insurance$33,612$164,103-$197,715
Advertising$6,091$128,251-$134,342
Office Expenses$26,309$30,560$48,989$105,858
Pension Plan Contributions$75,459$22,518$7,363$105,340
Fees for Services Other$82,647$15,744-$98,391
Other Expenses$50,241$44,209$13,017$63,258
Interest$40,742$18,831-$59,573
Travel$23,801$28,112$3,210$55,123
All Other Expenses$6,975$25,718$1,701$34,394
Conferences and Meetings$14,212$7,522$5,427$27,161
Fees for Services Accounting-$19,000-$19,000
Information Technology$18,476--$18,476
Fees for Service Investment Mgmnt Fees-$12,492-$12,492
Fees for Services Legal$1,519$3,918$426$5,863
Total Functional Expenses$4,740,904$1,486,420$423,447$6,650,771

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,927,682
Expenses per Audited Statements$6,650,771
Total Expenses per Form 990$6,650,771
Expenses Not Reported on Form 990$276,911
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$47,388
Fundraising Direct Expenses$18,578
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ti Auction/fund$41,745$41,745$17,282$24,463
Taste Fundrasin$5,643$5,643$1,296$4,347
Total Events$47,388$47,388$18,578$28,810
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Michael SeaverTrusteeBanking ActivitiesNo$772,174
Paul PerraultTrusteeConstruction WorkNo$106,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The completed form 990 is reviewed by the chairman of the board and the treasurer in advance of filing. Copies are made available to all members of the board through email prior to filing the return.

Form 990, Page 6, Part VI, Line 12C

All trustees are required to read the conflict of interest policy and sign disclosure forms annually. Members regularly excuse themselves from votes when there is a conflict.

Form 990, Page 6, Part VI, Line 15A

The museum's board of trustees approves the director's compensation as well as approving the budget for payroll expenses each year. Data on industry salaries is collected periodically. Compensation is set based on review of these materials and is reasonable in light of the directors's duties and compared to other comparable museums across the country. The compensation of the director and other members of the museum management team is determined through the museum budgeting process.

Form 990, Page 6, Part VI, Line 19

The museum will mail either by u.s. Postal service or electronic mail to all who request copies.

Filing and Contact Details

Filer

Filer Name
Shelburne Museum Inc
EIN
03-0179436
Phone
8029853346
Address
US ROUTE 7 PO BOX 10, SHELBURNE, VT 05482

Signing Officer

Name
Thomas Denenberg
Title
Executive Director
Phone
8029853346
Signed
2015-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Denenberg
Formed
1947
Legal Domicile
Vt
Voting Board Members
23
Independent Board Members
21
Employees
227
Volunteers
179

Preparer

Firm
Jmm & Associates Pc
Address
336 WATER TOWER CIR STE 801, COLCHESTER, VT 05446
Preparer
Randall L Sargent CPA
Phone
8026555665
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The purpose of the shelburne museum is to enrich people's lives through art, history and culture. The mission is to broaden our audience, engage their curiosity and give them an extraordinary museum experience. This mission is accomplished using the following guiding principles: fulfilling the legacy of electra havemeyer webb; collecting art and artifacts of the highest artistic and historical merit; preserving, interpreting, and making broadly accessible the museum's collections; celebrating american ingenuity, creativity and crafsmanship; imparting a deeper understanding of new england's heritage; providing an educational and enjoyable experience for our audiences; assuming a special responsibility for serving vermonters; valuing the contribution of the museum's staff and volunteers; achieving the highest standards of professionalism.

Form 990, Page 2, Part III, Line 4A

Operation of a museum of art and americana including impressionist paintings, folk art, quilts, textiles, decorative arts, furniture, american paintings and 17th to 20th century artifacts. During 2014 the museum had 106,884 visitors including 6,928 school children. 2014 special exhibitions included: john bisbee: new blooms; in a new light: french impressionism; homefront & battlefield: quilts and context in the civil war; supercool glass; all-star quilts: the john wilmerding collection; natural beauties: jewelry from art nouveau to now 2014 special programs include: programs for the visually impaired and those with alzheimer's disease and related dementias; a four-day camp for esl and at risk students, a camp partnership with a performing arts organization, in addition to summer, winter and spring vacation camps; professional development afternoons for k-12 educators; two symposia for adult learners; art making workshops for adults and children; a month long celebration of jazz as a part of national jazz appreciation month; numerous regular programs and special days for families; and school programs for students pre-k through college, as well as homeschool students

Form 990, Part XI, Line 9

Cost of goods sold 258,333 fundrasing expenses 18,578 cost of goods sold -258,333 fundraising expenses -18,578

Financial Statement Notes

Schedule D, Page 2, Part III, Line 4

Shelburne museum was founded in 1947 by pioneering collector electra havemeyer webb whose lifetime passion for early american material culture forms the museum's core collections. Mrs. Webb was the daughter of sugar magnate h.o. Havemeyer and his wife louisine, who amassed one of the finest collections of impressionist and old master paintings. Mrs. Webb inherited their love of collecting; she began at 19 and is recognized as a seminal collector of folk art and americana and as the only woman to create and endow a major art and history museum. She was a leading figure among a group of collectors that included henry francis du pont (founder of winterthur), henry and helen flint (historic deerfield) and abby aldrich rockefeller (colonial williamsburg) that was highly influential in reintroducing early american aesthetics and themes to the mainstream in the 20th century through their roles in the colonial revival and in creating the first museums to celebrate american material culture. Mrs. Webb collected cultural artifacts that best exemplified the ingenuity and craftsmanship of 18th and 19th century america. The over 150,000 pieces held at shelburne museum today include quilts, weathervanes, rugs, tools, toys, furniture, circus figures, dolls, decoys, agricultural implements, trade signs, ship figureheads, paintings, prints and household artifacts spanning four centuries. In creating shelburne museum, mrs. Webb also took the innovative step of collecting historic new england buildings and relocating them to the museum. Of the 39 exhibition structures at the museum 25 are historic; these include houses, barns, a lighthouse, a schoolhouse, a covered bridge, a general store, a railroad station, a jailhouse and the national historic landmark steamboat ticonderoga.

Schedule D, Page 2, Part V, Line 4

The museum's endowment includes both board designated funds and donor designated funds. These funds are invested in a pooled approach with income, gains, and losses allocated to the individual pools within the endowment. The following separate purpose funds are maintained: board designated collections care endowment expendable only for the care and maintenance of the collections and the general endowment to support museum general operations. The donor designated funds are: the brick house fund, for the care and maintenance of the museum founders' home; two ticonderoga endowments for the care and maintenance of our national historic landmark; and gounds and gardens endowment for the care and maintenance of our landscaping and gardens.

Schedule D, Page 3, Part X

Shelburne museum believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statments.

Schedule D, Page 4, Part XI, Line 2D

Cost of goods sold 258,333 fundrasing expenses 18,578

Schedule D, Page 4, Part XII, Line 2D

Cost of goods sold 258,333 fundraising expenses 18,578

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IRS990/MissionDesc0THE PURPOSE OF THE SHELBURNE MUSEUM IS TO ENRICH PEOPLE'S LIVES THROUGH ART, HISTORY AND CULTURE. THE MISSION IS TO BROADEN OUR AUDIENCE, ENGAGE THEIR CURIOSITY AND GIVE THEM AN EXTRAORDINARY MUSEUM EXPERIENCE. THIS MISSION IS ACCOMPLISHED USING THE FOLLOWING GUIDING PRINCIPLES: FULFILLING THE LEGACY OF ELECTRA HAVEMEYER WEBB; COLLECTING ART AND ARTIFACTS OF THE HIGHEST ARTISTIC AND HISTORICAL MERIT; PRESERVING, INTERPRETING, AND MAKING BROADLY ACCESSIBLE THE MUSEUM'S COLLECTIONS; CELEBRATING AMERICAN INGENUITY, CREATIVITY AND CRAFSMANSHIP; IMPARTING A DEEPER UNDERSTANDING OF NEW ENGLAND'S HERITAGE; PROVIDING AN EDUCATIONAL AND ENJOYABLE EXPERIENCE FOR OUR AUDIENCES; ASSUMING A SPECIAL RESPONSIBILITY FOR SERVING VERMONTERS; VALUING THE CONTRIBUTION OF THE MUSEUM'S STAFF AND VOLUNTEERS; ACHIEVING THE HIGHEST STANDARDS OF PROFESSIONALISM.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$61.6$1.39$60.2$19.1$9.68$9.38
2024Detailed filing. Detailed filing data is available for this year.$52.0$1.48$50.5$5.15$8.98$3.83
2023Detailed filing. Detailed filing data is available for this year.$52.3$1.61$50.7$6.86$7.87$1.01
2022Detailed filing. Detailed filing data is available for this year.$56.5$1.67$54.8$11.4$6.60$4.85
2021Detailed filing. Detailed filing data is available for this year.$52.8$2.42$50.3$7.31$5.78$1.52
2020Detailed filing. Detailed filing data is available for this year.$44.3$1.82$42.5$5.51$7.32$1.80
2019Summary only. Only limited summary data is available for this year.$48.3$1.85$46.4$1.43$1.63$0.21
2018Detailed filing. Detailed filing data is available for this year.$46.4$1.89$44.6$8.75$7.29$1.46
2017Detailed filing. Detailed filing data is available for this year.$48.6$1.47$47.1$5.28$6.77$1.49
2016Detailed filing. Detailed filing data is available for this year.$47.8$1.59$46.2$2.91$6.65$3.74
2015Detailed filing. Detailed filing data is available for this year.$49.3$1.53$47.8$5.89$6.62$0.74
2014Detailed filing. Detailed filing data is available for this year.$60.0$1.56$58.5$7.23$6.65$0.58
2013Detailed filing. Detailed filing data is available for this year.$62.6$2.11$60.5$8.20$6.43$1.77
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.2$2.38$55.8$5.85
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.4$2.07$54.3$5.70
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.3$1.96$55.4$5.54
Peer Organizations

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