Liabilities / Assets
5th percentile
Higher debt load relative to assets than 5% of similar nonprofits.
Peter Mullin Automotive Museum Foundation
990 • Fiscal year 2016 • EIN 20-1728744
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
38th percentile
Higher debt load relative to revenue than 38% of similar nonprofits.
Net Margin
55th percentile
Higher net margin than 55% of similar nonprofits.
Top Officer Pay
12th percentile
Higher top officer pay than 12% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
41st percentile
Faster asset growth than 41% of similar nonprofits.
Revenue Growth
4th percentile
Faster revenue growth than 4% of similar nonprofits.
Balance Sheet
Assets
Up$17,966,844
Up $5,991 (+0.0%) from 2015
Net Assets
Up$17,961,706
Up $923 (+0.0%) from 2015
Liabilities
Up$5,138
Up $5,068 (+7240%) from 2015
Revenue And Expenses
Revenue
Down$34,064
Down $51,774 (-60%) from 2015
Expenses
Down$32,833
Down $1,959 (-5.6%) from 2015
Net Income
Down$1,231
Down $49,815 (-98%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2016 to Dec 31, 2016
- Signed
- Nov 6, 2017
- Return Version
- 2016v3.0
- Gross Receipts
- $34,064
Mission and Program Overview
Mission
Designed to support public charities that are dedicated to the study, preservation and public display of classic automobiles.
Study, preservation and public display of classic automobiles.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments Program Related | $2,465,563 | $2,465,255 | ▼ $308 |
| Cash and Non-Interest-Bearing Accounts | $27,711 | $27,953 | ▲ $242 |
| Prepaid Expenses and Deferred Charges | $4,471 | $360 | ▼ $4,111 |
| Total Assets | $17,960,853 | $17,966,844 | ▲ $5,991 |
| Other Assets Total | $15,463,108 | $15,473,276 | ▲ $10,168 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $70 | $5,138 | ▲ $5,068 |
| Total Liabilities | $70 | $5,138 | ▲ $5,068 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $17,960,783 | $17,961,706 | ▲ $923 |
| Total Net Assets Fund Balance | $17,960,783 | $17,961,706 | ▲ $923 |
| Total Liabilities and Net Assets / Fund Balance | $17,960,853 | $17,966,844 | ▲ $5,991 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Investment Program Related Org | $2,465,255 | - | - |
| Other Assets Org | $15,000 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Peter W Mullin | President |
| David Sydorick | Director |
| Richard Adatto | Director |
| Susan Bendrick | Assistant Secretary |
| James Dowd | Assistant Treasurer |
| Lorne M Buchman | Secretary |
| Bruce Meyer | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $34,064
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $34,064
- Change in Net Assets
- $1,231
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $34,064
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $34,064
- Total Revenue per Form 990
- $34,064
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $32,833 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Insurance | $15,674 | - | - | $15,674 |
| Fees for Services Accounting | - | $7,750 | - | $7,750 |
| Conferences and Meetings | - | $1,117 | - | $1,117 |
| Other Expenses | $7,723 | $569 | - | $569 |
| Total Functional Expenses | $23,397 | $9,436 | $0 | $32,833 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $33,141 |
| Expenses per Audited Statements | $32,833 |
| Total Expenses per Form 990 | $32,833 |
| Expenses Not Reported on Form 990 | $308 |
| Expenses Not Reported on Financial Statements | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| - | ENTITY MORE THAN 35% OWNED BY PETER MULLIN, PRESIDENT, AND THE FOUNDATION. | The Foundation and One of Its Directors Has an Interest in Atlantic, Llc. Together, They Own a Minority Interest. an Independent Third Party Owns the Remaining Majority Interest. the Purpose of Atlantic Was to Acquire, Manage, Operate and Display a 1935 Bugatti T-57sc Automobile. the Director, a Disqualified Person Under Section 4946, Does Not Maintain Impermissible Control of the Foundation in Connection With Their Respective Interests in Atlantic, Llc. | No | $2,465,563 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- 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
- No
- 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, Part VI, Section A, Line 2
“James dowd has a business relationship with peter w. Mullin. Peter w. Mullin is a trustee of art center college of design. Lorne m. Buchman is president and ceo of art center college of design. Peter w. Mullin, david sydorick and bruce meyer are directors of the petersen automotive museum foundation.”
Form 990, Part VI, Section A, Line 7A
“Under section 4.3 (c) of the foundation's bylaws, petersen automotive museum, a 501(c)(3) organization, has the right to appoint 1 director to the board of directors. Art center college of design, a 501(c)(3) organization, has the right to appoint 2 directors to the board. Peter w. Mullin has the power to select 2 directors to the board.”
Form 990, Part VI, Section A, Line 8B
“The foundation's only committee is the audit committee for which no formal minutes are recorded. However, the audit committee chair conducts discussions with the foundation's assistant treasurer and with the foundation's independent auditors.”
Form 990, Part VI, Section B, Line 11B
“A draft copy of the 990 will be sent to the foundation for a detailed review. Upon receipt, the president and assistant treasurer of the foundation will review in detail the tax return and discuss any questions or issues with the preparer. Upon the satisfaction of any issues, the client will send a final copy of the form 990 to the entire board of directors before mailing the final copy to the irs and appropriate state agencies.”
Form 990, Part VI, Section B, Line 12C
“It is the policy of the foundation that its directors, officers and key employees acknowledge and certify to follow the guidelines of the conflict of interest policy annually and file a copy of such certification with the audit committee. If the conflict or potential conflict is material and unresolved, the audit committee shall make a recommendation to the board of directors. If it is determined that a conflict exists, the board will take appropriate actions such as requiring the interested person to refrain from a vote on the matter or requiring the unwinding of a transaction.”
Form 990, Part VI, Section B, Line 15
“Form 990, part vi, line 15 none of the officers, directors, trustees, or key employees receive compensation.”
Form 990, Part VI, Section C, Line 19
“Governing documents are available for anyone who would like to view them. They can contact anyone at peter mullin automotive museum foundation in any way, and a copy will be provided to them.”
Form 990, Part VI, Section B, Line 16B
“All transactions of a significant nature, involving the foundation and its interest in atlantic llc, are subject to review by the foundation's directors and formalized in the minutes of the foundation.”
Filing and Contact Details
Filer
- Filer Name
- Peter Mullin Automotive Museum
- EIN
- 20-1728744
- Phone
- 3104449990
- Address
- 2242 PURDUE AVENUE, LOS ANGELES, CA 90064
Signing Officer
- Name
- James P Dowd
- Title
- Assistant Treasurer
- Phone
- 3104449990
- Signed
- 2017-11-06
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Peter Mullin
- Formed
- 2004
- Legal Domicile
- CA
- Voting Board Members
- 5
- Independent Board Members
- 4
- Employees
- 0
- Volunteers
- 7
Preparer
- Firm
- Windes Inc
- Address
- PO BOX 87, LONG BEACH, CA 90801-0087
- Preparer
- Donita M Joseph
- Phone
- 5624351191
Supplemental Narrative
Financial Statement Notes
PART III, LINE 4:
“The corporation has acquired an undivided full or partial interest in five classic automobiles, including three archive collections of automobile memorabilia. The corporation has also acquired an interest in atlantic llc, which owns one classic automobile. The corporation makes its collection of automobiles and/or memorabilia available for loan to the supported organizations and other nonprofit organizations, for use in their exhibitions and/or education programs. The foundation's automobile collection is comprised of primarily french classic automobiles from the 1930's. The archive collection includes photos, slides, newspapers, magazines and posters of historical value related to classic automobiles. The foundation is designed to support public charities that are dedicated to the study, preservation and public display of classic automobiles.”
PART X, LINE 2:
“The foundation is exempt from federal and california income taxes under section 501(c)(3) of the internal revenue code and 23701(d) of the california revenue and taxation code, respectively. The foundation recognizes the financial statement benefit of tax positions, such as its filing status as tax-exempt, only after determining that the relevant tax authority would more likely than not sustain the position following an audit. The foundation is subject to potential income tax audits on open tax years by any taxing jurisdiction in which it operates. The statute of limitations for federal purposes is three years and for california purposes is generally three to four years.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Loss from unconsolidated investment in affiliate 308.”
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| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd | 0 | 0 |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd | 0 | 1 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | THERE IS A CONTRACT BETWEEN MR. MULLIN AND THE FOUNDATION WHICH GOVERNS THE OWNERSHIP, USE, MAINTENANCE, AND STORAGE OF JOINTLY OWNED AUTOMOBILES. THE FOUNDATION AND ONE OF ITS DIRECTORS HAS AN INTEREST IN ATLANTIC, LLC. TOGETHER, THEY OWN A MINORITY INTEREST. AN INDEPENDENT THIRD PARTY OWNS THE REMAINING MAJORITY INTEREST. THE PURPOSE OF ATLANTIC WAS TO ACQUIRE, MANAGE, OPERATE AND DISPLAY A 1935 BUGATTI T-57SC AUTOMOBILE. THE DIRECTOR, A DISQUALIFIED PERSON UNDER SECTION 4946, DOES NOT MAINTAIN IMPERMISSIBLE CONTROL OF THE FOUNDATION IN CONNECTION WITH THEIR RESPECTIVE INTERESTS IN ATLANTIC, LLC. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 1 | IN OCTOBER 2015 AND PRIOR YEARS, THE FOUNDATION LOANED CERTAIN OF ITS CLASSIC AUTOMOBILES TO THE ART CENTER COLLEGE OF DESIGN ("COLLEGE"), FOR DISPLAY AT THE COLLEGE'S ANNUAL CLASSIC CAR SHOW, WHICH IS A MAJOR PUBLICITY AND FUND RAISING EVENT FOR THE COLLEGE. IN 2005, THE FOUNDATION PLEDGED $100,000 TO THE COLLEGE TO ENDOW A SCHOLARSHIP IN TRANSPORTATION DESIGN AND TO FUND A CLASSIC AUTOMOBILE DESIGN COMPETITION. THE FOUNDATION FUNDED THIS PLEDGE IN ANNUAL INSTALLMENTS OF $20,000, WITH THE FINAL PAYMENT MADE TO THE COLLEGE IN 2009. THE FOUNDATION HAS ALSO LOANED CERTAIN CLASSIC AUTOMOBILES TO THE PETERSEN AUTOMOTIVE MUSEUM TO BE DISPLAYED AT THEIR SPECIAL EXHIBITS, WHICH BEGAN NOVEMBER 2015 AND CONTINUES THROUGH JANUARY 2018. |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART IV, SECTION A, LINE 9C |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 1 | SCHEDULE A, PART VI |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 2 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 954739699 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 1 | 951921340 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 1 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 10 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 1 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | PETERSEN AUTO MUSEUM |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 1 | ART CTR COLL OF DESIGN |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType1Ind | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 0 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/ArtPublicExhibitionAmountsGrp/AssetsIncludedAmt | 0 | 15473276 |
| IRS990ScheduleD/CollectionUsedPreservationInd | 0 | X |
| IRS990ScheduleD/CollectionUsedPubExhibitionInd | 0 | X |
| IRS990ScheduleD/CollUsedLoanOrExchProgInd | 0 | X |
| IRS990ScheduleD/CollUsedScholarlyRsrchInd | 0 | X |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 308 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 32833 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 0 | 2465255 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 0 | INVESTMENT IN AFFILIATE |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 2138354 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 2870652 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 2 | 2213609 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 3 | 5052860 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 4 | 2785843 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 5 | 286958 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 6 | 110000 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 7 | 15000 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | 1937 DELAHAYE TYPE 145 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | 1939 DELAHAYE TYPE 165 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | 1937 TALBOT LAGO T-150S |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 3 | 1938 DUBONNET HISPANO XENIA COUPE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 4 | 1939 BUGATTI T-64 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 5 | ARCHIVE/MEMORABILIA COLLECTION |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 6 | STEEL MEZZANINE STRUCTURE/FACTORY PATTERNS |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 7 | BOOK PUBLICATION |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 308 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 34064 |
| IRS990ScheduleD/SolicitedAssetsSaleInd | 0 | 0 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE CORPORATION HAS ACQUIRED AN UNDIVIDED FULL OR PARTIAL INTEREST IN FIVE CLASSIC AUTOMOBILES, INCLUDING THREE ARCHIVE COLLECTIONS OF AUTOMOBILE MEMORABILIA. THE CORPORATION HAS ALSO ACQUIRED AN INTEREST IN ATLANTIC LLC, WHICH OWNS ONE CLASSIC AUTOMOBILE. THE CORPORATION MAKES ITS COLLECTION OF AUTOMOBILES AND/OR MEMORABILIA AVAILABLE FOR LOAN TO THE SUPPORTED ORGANIZATIONS AND OTHER NONPROFIT ORGANIZATIONS, FOR USE IN THEIR EXHIBITIONS AND/OR EDUCATION PROGRAMS. THE FOUNDATION'S AUTOMOBILE COLLECTION IS COMPRISED OF PRIMARILY FRENCH CLASSIC AUTOMOBILES FROM THE 1930'S. THE ARCHIVE COLLECTION INCLUDES PHOTOS, SLIDES, NEWSPAPERS, MAGAZINES AND POSTERS OF HISTORICAL VALUE RELATED TO CLASSIC AUTOMOBILES. THE FOUNDATION IS DESIGNED TO SUPPORT PUBLIC CHARITIES THAT ARE DEDICATED TO THE STUDY, PRESERVATION AND PUBLIC DISPLAY OF CLASSIC AUTOMOBILES. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | THE FOUNDATION IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE, RESPECTIVELY. THE FOUNDATION RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF TAX POSITIONS, SUCH AS ITS FILING STATUS AS TAX-EXEMPT, ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. THE FOUNDATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA PURPOSES IS GENERALLY THREE TO FOUR YEARS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | LOSS FROM UNCONSOLIDATED INVESTMENT IN AFFILIATE 308. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART III, LINE 4: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 0 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 15473276 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 2465255 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 32833 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 34064 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 34064 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 33141 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 0 | ATLANTIC LLC |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 0 | ENTITY MORE THAN 35% OWNED BY PETER MULLIN, PRESIDENT, AND THE FOUNDATION. |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 0 | 0 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt | 0 | 2465563 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 0 | THE FOUNDATION AND ONE OF ITS DIRECTORS HAS AN INTEREST IN ATLANTIC, LLC. TOGETHER, THEY OWN A MINORITY INTEREST. AN INDEPENDENT THIRD PARTY OWNS THE REMAINING MAJORITY INTEREST. THE PURPOSE OF ATLANTIC WAS TO ACQUIRE, MANAGE, OPERATE AND DISPLAY A 1935 BUGATTI T-57SC AUTOMOBILE. THE DIRECTOR, A DISQUALIFIED PERSON UNDER SECTION 4946, DOES NOT MAINTAIN IMPERMISSIBLE CONTROL OF THE FOUNDATION IN CONNECTION WITH THEIR RESPECTIVE INTERESTS IN ATLANTIC, LLC. |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | JAMES DOWD HAS A BUSINESS RELATIONSHIP WITH PETER W. MULLIN. PETER W. MULLIN IS A TRUSTEE OF ART CENTER COLLEGE OF DESIGN. LORNE M. BUCHMAN IS PRESIDENT AND CEO OF ART CENTER COLLEGE OF DESIGN. PETER W. MULLIN, DAVID SYDORICK AND BRUCE MEYER ARE DIRECTORS OF THE PETERSEN AUTOMOTIVE MUSEUM FOUNDATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | UNDER SECTION 4.3 (C) OF THE FOUNDATION'S BYLAWS, PETERSEN AUTOMOTIVE MUSEUM, A 501(C)(3) ORGANIZATION, HAS THE RIGHT TO APPOINT 1 DIRECTOR TO THE BOARD OF DIRECTORS. ART CENTER COLLEGE OF DESIGN, A 501(C)(3) ORGANIZATION, HAS THE RIGHT TO APPOINT 2 DIRECTORS TO THE BOARD. PETER W. MULLIN HAS THE POWER TO SELECT 2 DIRECTORS TO THE BOARD. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE FOUNDATION'S ONLY COMMITTEE IS THE AUDIT COMMITTEE FOR WHICH NO FORMAL MINUTES ARE RECORDED. HOWEVER, THE AUDIT COMMITTEE CHAIR CONDUCTS DISCUSSIONS WITH THE FOUNDATION'S ASSISTANT TREASURER AND WITH THE FOUNDATION'S INDEPENDENT AUDITORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | A DRAFT COPY OF THE 990 WILL BE SENT TO THE FOUNDATION FOR A DETAILED REVIEW. UPON RECEIPT, THE PRESIDENT AND ASSISTANT TREASURER OF THE FOUNDATION WILL REVIEW IN DETAIL THE TAX RETURN AND DISCUSS ANY QUESTIONS OR ISSUES WITH THE PREPARER. UPON THE SATISFACTION OF ANY ISSUES, THE CLIENT WILL SEND A FINAL COPY OF THE FORM 990 TO THE ENTIRE BOARD OF DIRECTORS BEFORE MAILING THE FINAL COPY TO THE IRS AND APPROPRIATE STATE AGENCIES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | IT IS THE POLICY OF THE FOUNDATION THAT ITS DIRECTORS, OFFICERS AND KEY EMPLOYEES ACKNOWLEDGE AND CERTIFY TO FOLLOW THE GUIDELINES OF THE CONFLICT OF INTEREST POLICY ANNUALLY AND FILE A COPY OF SUCH CERTIFICATION WITH THE AUDIT COMMITTEE. IF THE CONFLICT OR POTENTIAL CONFLICT IS MATERIAL AND UNRESOLVED, THE AUDIT COMMITTEE SHALL MAKE A RECOMMENDATION TO THE BOARD OF DIRECTORS. IF IT IS DETERMINED THAT A CONFLICT EXISTS, THE BOARD WILL TAKE APPROPRIATE ACTIONS SUCH AS REQUIRING THE INTERESTED PERSON TO REFRAIN FROM A VOTE ON THE MATTER OR REQUIRING THE UNWINDING OF A TRANSACTION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | FORM 990, PART VI, LINE 15 NONE OF THE OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES RECEIVE COMPENSATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | GOVERNING DOCUMENTS ARE AVAILABLE FOR ANYONE WHO WOULD LIKE TO VIEW THEM. THEY CAN CONTACT ANYONE AT PETER MULLIN AUTOMOTIVE MUSEUM FOUNDATION IN ANY WAY, AND A COPY WILL BE PROVIDED TO THEM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | ALL TRANSACTIONS OF A SIGNIFICANT NATURE, INVOLVING THE FOUNDATION AND ITS INTEREST IN ATLANTIC LLC, ARE SUBJECT TO REVIEW BY THE FOUNDATION'S DIRECTORS AND FORMALIZED IN THE MINUTES OF THE FOUNDATION. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 8B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART VI, SECTION B, LINE 16B |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 1 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 0 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 1 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | THE PETERSEN AUTOMOTIVE MUSEUM FOUNDATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 1 | ART CENTER COLLEGE OF DESIGN |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 954739699 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 1 | 951921340 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(C)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 1 | 501(C)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | CA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 1 | CA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | AUTOMOTIVE MUSEUM |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 1 | EDUCATION |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | LINE 10 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 1 | LINE 2 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | 6060 WILSHIRE BLVD |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 1 | 1700 LIDA STREET |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | LOS ANGELES |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 1 | PASADENA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | CA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 1 | CA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 0 | 90036 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 1 | 91103 |
| IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PaidEmployeesSharingInd | 0 | 0 |
| IRS990ScheduleR/PerformOfServicesByOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/PerformOfServicesForOthOrgInd | 0 | 0 |
| IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd | 0 | 0 |
| IRS990ScheduleR/ReimbursementPaidByOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/ReimbursementPaidToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/RentalOfFcltsFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/SharingOfFacilitiesInd | 0 | 1 |
| IRS990ScheduleR/TransferFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/TransferToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/AllPartnersC3SInd | 0 | 0 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/BusinessName/BusinessNameLine1Txt | 0 | ATLANTIC LLC |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd | 0 | 0 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/EIN | 0 | 272601274 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd | 0 | 0 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/LegalDomicileStateCd | 0 | MT |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/OwnershipPct | 0 | 0.08350 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/PredominateIncomeDesc | 0 | RELATED |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt | 0 | OTHER INVESTMENTS - CLASSIC AUTOMOBILE |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt | 0 | 2465255 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt | 0 | PO BOX 1860 |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/USAddress/CityNm | 0 | BENTONVILLE |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd | 0 | AR |
| IRS990ScheduleR/UnrelatedOrgTxblPartnershipGrp/USAddress/ZIPCd | 0 | 72712 |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | CA |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 17960853 |
| IRS990/TotalAssetsEOYAmt | 0 | 17966844 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 17960853 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 17966844 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalContributionsAmt | 0 | 34064 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 9436 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 23397 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 32833 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $17,966,844
- Liabilities
- $5,138
- Net assets
- $17,961,706
- Revenue
- $34,064
- Expenses
- $32,833
- Net income
- $1,231