Civic Intelligence

Shelburne Museum Incorporated

EIN 03-0179436 • 501(c)3 • Shelburne, VT

Pub. 78 Eligible

Profile

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

6000 Shelburne Road PO Box 10Shelburne, VT 05482

www.shelburnemuseum.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

16th percentile

0.02x

Higher debt load relative to assets than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

16th percentile

0.07x

Higher debt load relative to revenue than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

89th percentile

49%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

53rd percentile

$373,323

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

83rd percentile

19%

Faster asset growth than 83% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

97th percentile

270%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$61,637,712

Up $9,636,945 (+19%) from 2024

Liabilities

Down

$1,390,285

Down $90,285 (-6.1%) from 2024

Net Assets

Up

$60,247,427

Up $9,727,230 (+19%) from 2024

Revenue

Up

$19,058,612

Up $13,907,143 (+270%) from 2024

Expenses

Up

$9,678,671

Up $700,856 (+7.8%) from 2024

Net Income

Up

$9,379,941

Up $13,206,287 (+345%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$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

2025

Assets$61,637,712
Liabilities$1,390,285
Net Assets$60,247,427

Operations Trend

Revenue, expenses, and net income by year, with the latest 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

2025

Revenue$19,058,612
Expenses$9,678,671
Net Income$9,379,941

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
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Feb 10, 2026
Return Version
2024v5.0
Gross Receipts
$39,060,872
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$31,865,695$39,069,860▲ $7,204,165
Land, Buildings, and Equipment, Net$17,532,941$18,483,730▲ $950,789
Pledges and Grants Receivable$1,851,062$3,241,277▲ $1,390,215
Cash and Non-Interest-Bearing Accounts$131,876$248,608▲ $116,732
Prepaid Expenses and Deferred Charges$264,933$225,463▼ $39,470
Inventories for Sale or Use$201,205$211,612▲ $10,407
Accounts Receivable$145,129$149,256▲ $4,127
Savings and Temporary Cash Investments$7,926$7,906▼ $20
Total Assets$52,000,767$61,637,712▲ $9,636,945
Liabilities
Mortgage Notes Payable Secured by Investment Property$820,399$750,517▼ $69,882
Accounts Payable and Accrued Expenses$417,605$462,272▲ $44,667
Other Liabilities$145,110$116,610▼ $28,500
Deferred Revenue$97,456$60,886▼ $36,570
Total Liabilities$1,480,570$1,390,285▼ $90,285
Net Assets / Fund Balance
Net Assets With Donor Restrictions$26,011,629$37,970,781▲ $11,959,152
Net Assets Without Donor Restrictions$24,508,568$22,276,646▼ $2,231,922
Total Net Assets Fund Balance$50,520,197$60,247,427▲ $9,727,230
Total Liabilities and Net Assets / Fund Balance$52,000,767$61,637,712▲ $9,636,945

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,132,343$11,137,368$26,269,711
Equipment$597,275$1,515,450$2,112,725
Other Land Buildings$1,714,105$50,603$1,764,708
Leasehold Improvements$116,075$960,870$1,076,945
Land$923,932-$923,932

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$31,863,695$9,903,521▲ $1,982,579$4,595,026$39,067,860
2023$30,993,961$378,743▲ $4,046,505$3,476,744$31,863,695
2022$36,322,328$487,058▼ $2,470,858$3,260,260$30,993,961
2021$31,319,675$5,391,432▲ $1,426,951$1,725,097$36,322,328
2020$22,564,996$3,596,579▲ $7,633,696$2,408,655$31,319,675
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas DenenbergExecutive DiFT$335,934$37,389$373,323
Thomas DenenbergExecutive Director-$335,934$37,389$373,323
Erin MooreDirector ofFT$109,211$26,544$135,755
Benjamin KrevolinDirector ofFT$119,966$4,758$124,724
Leslie WrightDirector ofFT$100,862$12,790$113,652

Highest Paid Contractors

ContractorServicesLocationCompensation
Annum ArchitectsArchitect Svcs40 BROAD STREET UNIT 102, Boston, MA 02109$957,286
New England Holiday Light CompanyLight Install209 WEST RIVER ROAD UNIT 5, Hooksett, NH 03106$352,873
Vc3 INCIt1301 GERVAIS STREET SUITE 1800, Columbia, SC 29201$156,331
Alliance GroupMaintenancePO BOX 666, Essex Junction, VT 05453$132,126
PC Construction CompanyConstruction193 TILLEY DRIVE, South Burlington, VT 05403$118,513
Revenue and Support

Revenue Composition

Contributions and Grants
$15,251,784
Program Service Revenue
$1,675,064
Investment Income
$1,635,271
Other Revenue
$496,493
All Other Contributions
$13,910,866
Change in Net Assets
$9,379,941

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 Traded15$7,320,998Fair Market Value
Total Noncash Contributions15$7,320,998-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,967,703
Revenue Not Reported on Financial Statements
$90,909
Revenue Not Reported on Form 990
$406,582
Total Revenue per Audited Statements
$19,374,285
Total Revenue per Form 990
$19,058,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,105,741
Other Expenses$3,564,139
Total Fundraising Expense$932,133
Professional Fundraising Fees$8,791
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,023,250$1,100,211$312,821$4,436,282
Fees for Services Other$732,058$196,164$99,387$1,027,609
Depreciation Depletion$484,040$207,446-$691,486
Other Employee Benefits$496,138$134,275$38,200$668,613
Current Officers, Directors, Trustees, and Key Employees$132,087$132,087$176,116$440,290
Payroll Taxes$303,098$84,730$27,986$415,814
Occupancy$313,650$15,372-$329,022
Insurance$231,891$33,745$29,515$295,151
All Other Expenses$133,995$35,126$10,889$180,010
Pension Plan Contributions$114,452$27,487$2,803$144,742
Office Expenses$30,218$25,347$79,631$135,196
Travel$63,509$53,858$4,198$121,565
Fees for Service Investment Mgmnt Fees-$90,909-$90,909
Other Expenses$15,448$48,219$26,386$90,053
Advertising$448$1,958$60,393$62,799
Conferences and Meetings$14,411$16,916$30,831$62,158
Interest$30,111$14,170-$44,281
Fees for Services Accounting-$21,000-$21,000
Information Technology$5,076$12,174-$17,250
Fees for Services Professional Fundraising--$8,791$8,791
Fees for Services Legal-$6,047-$6,047
Total Functional Expenses$6,468,911$2,277,627$932,133$9,678,671

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$9,678,671
Total Expenses per Audited Statements$9,647,055
Expenses per Audited Statements$9,587,762
Expenses Not Reported on Financial Statements$90,909
Expenses Not Reported on Form 990$59,293
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$55,221
Fundraising Gross Income$50,571
Professional Fundraising Fees$8,791

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ice Bar$52,475$35,786$4,547$31,239
Totality on the$17,150$11,005$2,081$8,924
Total Events$77,525$49,161$45,176$3,985
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
Amber DegnSpouseGrant WritingNo$109,333
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charitable Gift Annuity Payable$116,610
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 35% controlled entity
No
Business relationship with family members
Yes
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 990 is prepared and then sent to the director and the sustainability committee for review before filing the form.

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 director/ceo generates an annual contract with an independent legal firm to renegotiate their compensation and benefits package. This contract is then provided to the board for review, voted on, and approval is needed before it can go into effect.

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
6000 SHELBURNE ROAD PO BOX 10, SHELBURNE, VT 05482

Signing Officer

Name
Erin Moore
Title
Director of Finance
Phone
8029853346
Signed
2026-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erin Moore
Formed
1947
Legal Domicile
Vt
Voting Board Members
23
Independent Board Members
23
Employees
204
Volunteers
40

Preparer

Firm
Jmm & Associates Pc
Address
463 MOUNTAIN VIEW DR STE 403, 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 the year ended march 31, 2025, the museum's overall visitors totaled 136,413 including 28,349 school-aged children. Special exhibitions included: shelburne museum organizes and presents exhibitions and programs for the enrichment of the community. Each year the museum presents approximately ten to twelve rotating and permanent exhibitions. During the year 2025, shelburne museum presented the following rotating exhibitions: making a noise: indigenous sound art; sound, art, & ink: higher ground posters; herd: karen petersen's bronze horses; dahlov ipcar: the possibilities of pattern; blueprint of a collection: cyanotype photography of david sokosh; porcelain love letters: the art of mara superior; a grand spectacle in the great outdoors: elliot fernander's circus photography; circus poster selections from the permanent collection; rotating quilt installations from the permanent collection. Special programs: during the fiscal year 2025 in-person programming returned to prepandemic levels, building upon and expanding programs from fiscal year 2024. Shelburne museum hosted programs for the visually impaired and those with alzheimer's disease and dementia; school partnerships with public elementary, middle, and high schools; summer camps that specialized in art programming such as knitting and print making; yoga classes in partnership with a local studio; ongoing webinars regarding conservation efforts; and school programs for students pre-k through college, including underwriting of admission and transportation costs for schools upon request. Shelburne museum continued to host free admission events, including community day and free first fridays, which provides free admission to the public after 3pm on the first friday of every month during the season. This program welcomed a total of 8,609 visitors, 15 food & beverage vendors, and 4 live music performances. In 2025 shelburne museum continued offering sensory friendly fridays/times, to allow children and adults with sensory processing differences time to view special exhibitions in a light and sound adjusted environment. Shelburne museum plans to expand this initiative in the coming years. In addition, shelburne museum continued the winter lights programming, which is an outdoor lightshow & experience that runs from late november through january 1st. This event allows us to engage with our community members during the winter months. Winter lights continues to be an incredibly successful program, welcoming over 58,000 visitors in 2025.

Form 990, Part IX, Line 11G

Other fees for services 732,058 196,164 99,387

Form 990, Part XI, Line 9

Fundraising event expenses 55,221 fundraising event expenses -55,221

Financial Statement Notes

Schedule D, Page 1, Part III, Line 1A

The museum's collection consists of fine art, folk art, decorative art, furniture, textiles, historic buildings, tools, toys, transportation vehicles, and historical artifacts. The collection is maintained under the care of the collections department staff and is held for research, education and public exhibition in furtherance of public service, rather than for financial gain. As a matter of policy, proceeds from sales of collection items are used to acquire other items for the collection. In 2015, the museum changed its policy regarding the accounting for collection items. Under the policy, the museum does not include either the cost or the value of its collections in the statements of financial position, nor does it recognize gifts of collection items as revenues in the statements of activities. Since items acquired for the collection by purchase are not capitalized, the costs of these acquisitions are reported as decreases in net assets in the statements of activities.

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; and the american paintings fund to enable acquistions of american paintings and cover exhibition costs. 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; grounds and gardens endowment for the care and maintenance of our landscaping and gardens; endowed positions at the directorial, curatorial and educational level.

Schedule D, Page 3, Part X

The organization 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 statements.

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

Fundraising event expenses 55,221

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

Fundraising event expenses 55,221

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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