Civic Intelligence

Shelburne Museum Incorporated

990 • Fiscal year 2018 • EIN 03-0179436

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 08, 2019

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

21st percentile

0.04x

Higher debt load relative to assets than 21% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

42nd percentile

0.22x

Higher debt load relative to revenue than 42% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

75th percentile

17%

Higher net margin than 75% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

48th percentile

$244,320

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

19th percentile

-4.4%

Faster asset growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

91st percentile

66%

Faster revenue growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Down

$46,446,767

Down $2,124,034 (-4.4%) from 2017

Net Assets

Down

$44,553,519

Down $2,543,117 (-5.4%) from 2017

Liabilities

Up

$1,893,248

Up $419,083 (+28%) from 2017

Revenue

Up

$8,754,143

Up $3,472,074 (+66%) from 2017

Expenses

Up

$7,292,984

Up $518,061 (+7.6%) from 2017

Net Income

Up

$1,461,159

Up $2,954,013 (+198%) from 2017

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

2018

Assets$46,446,767
Liabilities$1,893,248
Net Assets$44,553,519

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

2018

Revenue$8,754,143
Expenses$7,292,984
Net Income$1,461,159
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 8, 2019
Return Version
2018v3.1
Gross Receipts
$21,544,635
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$27,837,267$24,774,563▼ $3,062,704
Land, Buildings, and Equipment, Net$19,613,489$19,047,963▼ $565,526
Pledges and Grants Receivable$238,530$1,916,809▲ $1,678,279
Cash and Non-Interest-Bearing Accounts$384,612$311,017▼ $73,595
Inventories for Sale or Use$222,108$209,788▼ $12,320
Savings and Temporary Cash Investments$193,016$92,817▼ $100,199
Prepaid Expenses and Deferred Charges$56,934$87,082▲ $30,148
Accounts Receivable$24,845$6,728▼ $18,117
Total Assets$48,570,801$46,446,767▼ $2,124,034
Liabilities
Mortgage Notes Payable Secured by Investment Property$819,262$1,405,762▲ $586,500
Accounts Payable and Accrued Expenses$242,386$424,439▲ $182,053
Unsecured Notes Loans Payable$348,930--
Deferred Revenue$63,587$63,047▼ $540
Total Liabilities$1,474,165$1,893,248▲ $419,083
Net Assets / Fund Balance
Unrestricted Net Assets$40,508,066$38,263,317▼ $2,244,749
Temporarily Rstr Net Assets$5,782,180$5,483,812▼ $298,368
Permanently Rstr Net Assets$806,390$806,390→ $0
Total Net Assets Fund Balance$47,096,636$44,553,519▼ $2,543,117
Total Liabilities and Net Assets / Fund Balance$48,570,801$46,446,767▼ $2,124,034

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,826,741$8,119,502$24,946,243
Equipment$929,165$491,329$1,420,494
Leasehold Improvements$207,056$862,939$1,069,995
Land$923,932-$923,932
Other Land Buildings$161,069$84,739$245,808

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$27,889,562$2,028,104▼ $1,782,326$3,287,252$24,772,499
2017$26,095,853$26,132▲ $3,871,019$2,027,939$27,889,562
2016$26,640,712$-32,700▲ $1,488,971$1,983,013$26,095,853
2015$28,823,663$970,000▼ $704,303$2,447,377$26,640,712
2014$31,144,894$-25,517▲ $538,077$2,833,234$28,823,663
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas DenenbergExecutive DiFT$216,081$28,239$244,320
Thomas DenenbergExecutive Director-$216,081$28,239$244,320
Revenue and Support

Revenue Composition

Contributions and Grants
$5,158,503
Program Service Revenue
$946,812
Investment Income
$2,133,438
Other Revenue
$515,390
All Other Contributions
$4,828,018
Change in Net Assets
$1,461,159
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,624,370
Other Expenses$2,668,614
Total Fundraising Expense$825,771
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,420,606$607,373$435,062$3,463,041
Depreciation Depletion$507,830$217,641-$725,471
Other Employee Benefits$319,857$97,404$68,305$485,566
Fees for Services Other$287,342$65,181$39,244$391,767
Payroll Taxes$208,240$63,414$44,470$316,124
Occupancy$260,659$45,999-$306,658
Current Officers, Directors, Trustees, and Key Employees$21,608$136,280$86,432$244,320
Insurance$34,711$146,235-$180,946
Advertising$146,668$2,564-$149,232
Office Expenses$45,423$5,975$75,778$127,176
Pension Plan Contributions$75,964$23,133$16,222$115,319
Fees for Service Investment Mgmnt Fees-$79,589-$79,589
Travel$34,746$33,707$6,622$75,075
Interest$41,891$15,814-$57,705
Information Technology$45,643$6,849-$52,492
All Other Expenses$16,033$396$4,466$20,895
Conferences and Meetings$6,888$13,823-$20,711
Fees for Services Accounting-$18,300-$18,300
Other Expenses$2,927$8,559$5,989$17,475
Fees for Services Legal-$6,570-$6,570
Total Functional Expenses$4,831,348$1,635,865$825,771$7,292,984
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$76,452
Fundraising Gross Income$76,452
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala Fundraiser$43,118$39,120$4,679$34,441
Barnstormer$38,279$27,532$4,597$22,935
Total Events$87,027$72,282$73,288$-1,006
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

Draft of 990 is presented to the board of trustees for review prior to filing.

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 board of trustees does an annual review. Part of the review includes a survey with boardsource 360 where trustees and senior management contribute to the online review. The board also works with legal counsel to draft revised employment agreement.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available upon request.

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
Berenice Sarafzade
Title
Deputy Director
Phone
8029853346
Signed
2019-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Berenice Sarafzade
Formed
1947
Legal Domicile
Vt
Voting Board Members
20
Independent Board Members
20
Employees
208
Volunteers
275

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, 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 2018 the museum had 87,448 visitors including 7,191 school children. 2018 special exhibitions included: sweet tooth, in the garden, new england now: landscapes, patty yoder rugs, puppets: world on a string, playing cowboy, mapping an uneven country: bird's eye view, crystal cawley and bench space. 2018 special programs include: programs for the visually impaired and those with alzheimer's disease and dementia; school partnerships with a local private nursery school, and public elementary, middle and high schools; a summer camp partnership with a performing arts organization; one symposium for adult learners; art making workshops for adults and children; jazz programming as part of national jazz appreciation month; a lecture series in partnership with other community organizations and not-for-profits; a conservation month talk; suites of adult programming in association with temporary exhibits; yoga classes in partnership with a local studio; numerous regular programs and special days for families; and school programs for students pre-k through college, as well as homeschool students, including significant underwriting of transportation for schools with high percentages (50% and more) of students on free and reduced lunch.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The museum's endowment includes both board designated funds and donor designated funds. 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 operating 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 grounds and gardens endowment for the care and maintenance of our landscaping and gardens.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXECUTIVE DI
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IRS990/Form990TFiledInd0true
IRS990/FormationYr01947
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IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0true
IRS990/FundraisingAmt014745
IRS990/FundraisingDirectExpensesAmt076452
IRS990/FundraisingGrossIncomeAmt076452
IRS990/GainOrLossGrp/OtherAmt07694
IRS990/GainOrLossGrp/SecuritiesAmt01550036
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IRS990/GoverningBodyVotingMembersCnt020
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0121673
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt013875636
IRS990/GrossReceiptsAmt021544635
IRS990/GrossRentsGrp/RealAmt0179546
IRS990/GrossSalesOfInventoryAmt0526587
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IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt020
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IRS990/InfoInScheduleOPartIIIInd0X
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IRS990/InformationTechnologyGrp/ProgramServicesAmt045643
IRS990/InformationTechnologyGrp/TotalAmt052492
IRS990/InsuranceGrp/ManagementAndGeneralAmt0146235
IRS990/InsuranceGrp/ProgramServicesAmt034711
IRS990/InsuranceGrp/TotalAmt0180946
IRS990/InterestGrp/ManagementAndGeneralAmt015814
IRS990/InterestGrp/ProgramServicesAmt041891
IRS990/InterestGrp/TotalAmt057705
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0222108
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0209788
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IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0113979
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt012325600
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
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IRS990/MembershipDuesAmt0315740
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO BROADEN OUR AUDIENCE, ENGAGE THEIR CURIOSITY, ANIMATE THEIR CREATIVITY, AND GIVE THEM AN EXTRAORDINARY, EDUCATIONAL MUSEUM EXPERIENCE.
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IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0819262
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01405762
IRS990/NetAssetsOrFundBalancesBOYAmt047096636
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0319857
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IRS990/OtherExpensesGrp/Desc0MATERIALS & SUPPLIES
IRS990/OtherExpensesGrp/Desc1VEHICLE & EQUIPMENT MAINT
IRS990/OtherExpensesGrp/Desc2CREDIT CARD CHARGES
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IRS990/OtherExpensesGrp/FundraisingAmt213613
IRS990/OtherExpensesGrp/FundraisingAmt35989
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt029548
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18566
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22945
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt38559
IRS990/OtherExpensesGrp/ProgramServicesAmt0178647
IRS990/OtherExpensesGrp/ProgramServicesAmt1140154
IRS990/OtherExpensesGrp/ProgramServicesAmt235511
IRS990/OtherExpensesGrp/ProgramServicesAmt32927
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IRS990/OtherExpensesGrp/TotalAmt1157657
IRS990/OtherExpensesGrp/TotalAmt252069
IRS990/OtherExpensesGrp/TotalAmt317475
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0435062
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02420606
IRS990/OtherSalariesAndWagesGrp/TotalAmt03463041
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0208240
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IRS990/PensionPlanContributionsGrp/FundraisingAmt016222
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt023133
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt075964
IRS990/PensionPlanContributionsGrp/TotalAmt0115319
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0806390
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0806390
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0238530
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01916809
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt056934

Document Assets

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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