Civic Intelligence

International African American Museum

EIN 20-3398254 • 501(c)3 • Charleston, SC

Profile

To develop, operate, maintain, and promote a museum where residents and visitors can learn about the role of african americans in the making of the modern world, especially through the experiences of south carolinas. Also, to enable the documentation, preservation, interpretation, presentation and promotion of african american history though collaboration with others.

PO Box 22761Charleston, SC 29413

www.iaamuseum.org

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.26x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

84th percentile

1.75x

Higher debt load relative to revenue than 84% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

17th percentile

-7.9%

Higher net margin than 17% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

28th percentile

$242,548

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

27th percentile

-0.0%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

86th percentile

51%

Faster revenue growth than 86% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$73,547,323

Down $5,347 (-0.0%) from 2023

Liabilities

Up

$19,463,987

Up $866,580 (+4.7%) from 2023

Net Assets

Down

$54,083,336

Down $871,927 (-1.6%) from 2023

Operations
Liabilities / Revenue84th percentileNet Margin17th percentile

Revenue

Up

$11,151,191

Up $3,745,529 (+51%) from 2023

Expenses

Down

$12,034,464

Down $2,024,865 (-14%) from 2023

Net Income

Up

-$883,273

Up $5,770,394 (+87%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth27th percentile

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

$80M$60M$40M$20M$0-$20MAssets 2010: $210,229Liabilities 2010: $420,389Net Assets 2010: -$210,1602010Assets 2011: $99,677Liabilities 2011: $45,241Net Assets 2011: $54,4362011Assets 2012: $89,501Liabilities 2012: $14,163Net Assets 2012: $75,3382012Assets 2013: $181,544Liabilities 2013: $12,093Net Assets 2013: $169,4512013Assets 2014: $392,151Liabilities 2014: $15,237Net Assets 2014: $376,9142014Assets 2015: $3,870,983Liabilities 2015: $6,998Net Assets 2015: $3,863,9852015Assets 2016: $5,910,792Liabilities 2016: $22,439Net Assets 2016: $5,888,3532016Assets 2017: $21,861,677Liabilities 2017: $4,739,525Net Assets 2017: $17,122,1522017Assets 2018: $27,696,773Liabilities 2018: $366,219Net Assets 2018: $27,330,5542018Assets 2019: $44,515,957Liabilities 2019: $255,052Net Assets 2019: $44,260,9052019Assets 2020: $45,790,957Liabilities 2020: $662,366Net Assets 2020: $45,128,5912020Assets 2021: $69,899,271Liabilities 2021: $1,071,566Net Assets 2021: $68,827,7052021Assets 2022: $63,921,905Liabilities 2022: $2,293,471Net Assets 2022: $61,628,4342022Assets 2023: $73,552,670Liabilities 2023: $18,597,407Net Assets 2023: $54,955,2632023Assets 2024: $73,547,323Liabilities 2024: $19,463,987Net Assets 2024: $54,083,3362024

Highlighted filing

2024

Assets$73,547,323
Liabilities$19,463,987
Net Assets$54,083,336
Open 2024 Filing

Operations Trend

Revenue Growth86th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $880,9882010Expenses 2011: $604,1012011Expenses 2012: $423,0092012Revenue 2013: $192,952Expenses 2013: $98,839Net Income 2013: $94,1132013Revenue 2014: $396,420Expenses 2014: $171,521Net Income 2014: $224,8992014Revenue 2015: $3,688,134Expenses 2015: $201,063Net Income 2015: $3,487,0712015Revenue 2016: $2,599,121Expenses 2016: $574,754Net Income 2016: $2,024,3672016Revenue 2017: $16,626,168Expenses 2017: $1,473,042Net Income 2017: $15,153,1262017Revenue 2018: $14,823,486Expenses 2018: $4,692,084Net Income 2018: $10,131,4022018Revenue 2019: $18,695,151Expenses 2019: $1,800,800Net Income 2019: $16,894,3512019Revenue 2020: $5,717,337Expenses 2020: $5,060,651Net Income 2020: $656,6862020Revenue 2021: $29,654,302Expenses 2021: $5,955,188Net Income 2021: $23,699,1142021Revenue 2022: $11,921,609Expenses 2022: $19,120,880Net Income 2022: -$7,199,2712022Revenue 2023: $7,405,662Expenses 2023: $14,059,329Net Income 2023: -$6,653,6672023Revenue 2024: $11,151,191Expenses 2024: $12,034,464Net Income 2024: -$883,2732024

Highlighted filing

2024

Revenue$11,151,191
Expenses$12,034,464
Net Income-$883,273
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$73,547,323
Liabilities
$19,463,987
Net assets
$54,083,336
Revenue
$11,151,191
Expenses
$12,034,464
Net income
-$883,273
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.5$19.5$54.1$11.2$12.0$0.88
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.6$18.6$55.0$7.41$14.1$6.65
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.9$2.29$61.6$11.9$19.1$7.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$69.9$1.07$68.8$29.7$5.96$23.7
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.8$0.66$45.1$5.72$5.06$0.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.5$0.26$44.3$18.7$1.80$16.9
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.7$0.37$27.3$14.8$4.69$10.1
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.9$4.74$17.1$16.6$1.47$15.2
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.91$0.02$5.89$2.60$0.57$2.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.87$0.01$3.86$3.69$0.20$3.49
2014Detailed filing. Detailed filing data is available for this year.$0.39$0.02$0.38$0.40$0.17$0.22
2013Detailed filing. Detailed filing data is available for this year.$0.18$0.01$0.17$0.19$0.10$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.01$0.08$0.42
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.05$0.05$0.60
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.42$0.21$0.88
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 3, 2025
Return Version
2024v5.2
Gross Receipts
$11,229,435
Mission and Program Overview

Mission

The iaam will be an international center of learning where individuals, families, and group will advance their understanding and appreciation of american history, particularly the role of african americans in creating the country and world we know today

Honor the untold stories of the african american journey at one of our country's most sacred sites

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$11,970,480$11,970,480→ $0
Pledges and Grants Receivable$4,542,408$5,800,719▲ $1,258,311
Cash and Non-Interest-Bearing Accounts$8,182,900$5,433,540▼ $2,749,360
Savings and Temporary Cash Investments$4,261,039$451,505▼ $3,809,534
Inventories for Sale or Use$49,602$113,867▲ $64,265
Land, Buildings, and Equipment, Net$32,346$100,484▲ $68,138
Investments in Publicly Traded Securities$100,086$0▼ $100,086
Prepaid Expenses and Deferred Charges$90,433$82,138▼ $8,295
Total Assets$73,552,670$73,547,323▼ $5,347
Other Assets Total$44,323,376$49,594,590▲ $5,271,214
Liabilities
Other Liabilities$15,897,890$16,926,000▲ $1,028,110
Deferred Revenue$1,792,560$1,835,300▲ $42,740
Accounts Payable and Accrued Expenses$906,957$702,687▼ $204,270
Total Liabilities$18,597,407$19,463,987▲ $866,580
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$46,329,808$45,952,520▼ $377,288
Net Assets With Donor Restrictions$8,625,455$8,130,816▼ $494,639
Total Net Assets Fund Balance$54,955,263$54,083,336▼ $871,927
Total Liabilities and Net Assets / Fund Balance$73,552,670$73,547,323▼ $5,347

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$100,484$18,639$119,123
Other Assets Org$14,307,864--
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Tonya MatthewsChief Executive OfficerFT$229,982$12,566$242,548
Dianne FirmentChief Financial OfficerFT$165,191$75,821$241,012
Virginia DeerinMajor Gifts OfficerFT$151,605$9,914$161,519
Malika PryorChief Learning & Engagement OfficerFT$144,925$10,764$155,689
Robyn Webb WilliamsDevelopment DirectorFT$108,010$6,666$114,676
Robyn WaterstonDevelopment DirectorFT$109,621$753$110,374
Ronald BurnetteFacilities DirectorFT$102,500-$102,500

Board Members and Trustees

NameTitle
Grady L CrosbyBoard Chair
P Keith WaringVice Chair, Ex-officio
Anna GlassDirector
Bishop Claude AlexanderDirector
Carolyn MurrayDirector
Dr David GoltraDirector
Dr Dwaun WarmackDirector
Dr Heather Andrea WilliamsDirector
Dr Tamara ButlerDirector
George LoeningDirector
Halle TeccoDirector
Henry E DarbyDirector
Joseph P Riley JrDirector
Kent MatlockDirector
Lenard MckelveyDirector
Michael P GianoniDirector
Mignon ClyburnDirector
Minor Mickel ShawDirector
Rev Dr Isaac J Holt JrDirector
Rev Dr Kylon J MiddletonDirector
Richard D Elliott EsqDirector
Robert E BrananDirector
Ross a AppelDirector
Vernita BrownDirector
Wilbur E Johnson EsqDirector
William CogswellDirector
James HairstonSecretary
Erwin Maddrey IiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Visible Life LLCCuratorial Consulting5116 NEWHALL STREET, Philadelphia, PA 19144$887,876
Community Counselling Service LLCFractional Cdo ServicesPO BOX 824885, Philadelphia, PA 19182$156,871
Stasmayer IncorporatedTechnology Maintenance2420 MALL DRIVE SUITE 201, N Charleston, SC 29406$123,466
Church Street MediaFractional Cmo Services269 WALKER STREET 611, Detroit, MI 48207$122,500
Revenue and Support

Revenue Composition

Contributions and Grants
$8,081,659
Program Service Revenue
$2,513,388
Investment Income
$443,793
Other Revenue
$112,351
All Other Contributions
$5,238,688
Change in Net Assets
$-883,273

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$43,636Fair Market Value (FMV)
Total Noncash Contributions2$43,636-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,151,086
Revenue Not Reported on Financial Statements
$105
Revenue Not Reported on Form 990
$11,346
Other Revenue Adjustments
$105
Total Revenue per Audited Statements
$11,162,432
Total Revenue per Form 990
$11,151,191
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,341,159
Salaries, Compensation, and Employee Benefits$4,693,305
Total Fundraising Expense$2,239,669
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,090,341$669,674$620,659$3,380,674
Occupancy$1,558,407$879,461$32,106$2,469,974
Fees for Services Other$1,445,315$322,267$557,504$2,325,086
Current Officers, Directors, Trustees, and Key Employees$373,526$119,665$110,907$604,098
Office Expenses$53,532$217,716$209,854$481,102
Other Employee Benefits$191,279$128,764$43,529$363,572
Payroll Taxes$158,388$106,623$36,044$301,055
Information Technology$153,032$50,269$60,649$263,950
Other Expenses$198,247$5,237$272,035$203,484
Advertising$175$3,049$172,551$175,775
All Other Expenses$14,064$19,718$107,614$141,396
Travel$26,127$67,215$10,960$104,302
Fees for Services Lobbying-$77,346-$77,346
Fees for Services Legal-$47,419-$47,419
Pension Plan Contributions$23,099$15,550$5,257$43,906
Depreciation Depletion-$6,229-$6,229
Total Functional Expenses$7,046,390$2,748,405$2,239,669$12,034,464

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$12,034,464
Expenses per Audited Statements$12,034,359
Total Expenses per Audited Statements$12,034,359
Expenses Not Reported on Financial Statements$105
Other Expense Adjustments$105
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$81,350
Fundraising Direct Expenses$78,244
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Anniversary Jubilee$267,750$81,350$78,244$3,106
Total Events$267,750$81,350$78,244$3,106
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$16,011,000
Due to Coastal Community Foundation$915,000
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 35% controlled entity
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is reviewed by the board of the international african american museum. Any changes will be made before filing the return.”

Form 990, Part VI, Section B, Line 12C

“The board reviews and acknowledges the conflicts of interest policy on an annual basis. In the event a potential conflict arises during the year, the interested person shall recuse himself/herself from all discussions and vote on the matter.”

Form 990, Part VI, Section B, Line 15

“The iaam ceo compensation was determined through the executive committee's survey and review of the salaries of ceos of relatively comparable institutions in the local area. The executive committee took into account the relative duties of the ceos, considering such matters as fundraising responsibility, management support for the ceos, staff currently under management, projected staff under management and unique challenges (e.g. Responsibility for oversight of building design and construction, and programming responsibility for partnership with the city staff public engagement). The compensation determination process for other officers and key employees is also evaluated by the executive committee after a review of comparable data and the position's role and responsibilities. All compensation decisions are documented.”

Form 990, Part VI, Section C, Line 19

“The international african american museum honors the requirements of the law governing request for such documents from the public and federal and state agencies.”

Filing and Contact Details

Filer

Filer Name
International African American Museum
EIN
20-3398254
Phone
8438725352
Address
PO BOX 22761, CHARLESTON, SC 29413

Signing Officer

Name
Dianne Firment
Title
CFO
Phone
8438725352
Signed
2025-09-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Tonya Matthews
Formed
2007
Legal Domicile
Sc
Voting Board Members
28
Independent Board Members
28
Employees
69
Volunteers
107

Preparer

Firm
Elliott Davis Advisory LLC
Address
500 EAST MOREHEAD STREET SUITE 700, CHARLOTTE, NC 28202
Preparer
Janice a Ratica
Phone
7043338881
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 1,445,315. Management and general expenses 322,267. Fundraising expenses 557,504. Total expenses 2,325,086.”

FORM 990, PART XII, LINE 2C:

“The process has not changed.”

Financial Statement Notes

PART III, LINE 1A:

“The museum follows the financial accounting standards board fasb asc 958-310-50, collection items acquired either through purchase or donations are not capitalized. Purchases of collection items are recorded as decreases in net assets without donor restriction if purchased with funds without donor restriction and as decreases in net assets with donor restrictions if purchased with funds with donor restrictions. Noncash contributions of collection items are not recorded on the statement of activities. A collection inventory is maintained which lists a description of the item, source, and storage location. If an item in the collection is sold, proceeds will directly benefit the collections on hand for direct care or for the acquisition of new collection items. The collection contains historically significant items which are considered priceless. They are held for public exhibition, education or research and are protected, cared for and preserved.”

PART X, LINE 2:

“The museum and iso are exempt from federal income tax under the provisions of section 501(c)(3) of the internal revenue code. In accordance with irc regulations, the museum is taxed on unrelated business income, which consists of earnings from activities not related to the exempt purpose of the museum. In addition, the museum and iso qualify for the charitable contribution deduction under section 170(b)(1)(a). The museum and iso have been classified as organizations that are not private foundations under section 509(a)(1) and section 509(a)(3), respectively. Management has evaluated the tax positions of the museum and does not believe that any uncertain tax positions or unrecognized tax benefits exist for the year ended december 31, 2024. The museum's policy is to report accrued interest related to unrecognized tax benefits, when applicable, as interest expense and to report penalties as other expense. The museum is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Reclass of fundraising event expense 105.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Reclass of fundraising event expense 105.”

Raw XML AppendixShowing 400 of 881 raw XML fields

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

Path#Value
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IRS990/Desc0THE LEARNING AND ENGAGEMENT ACTIVITIES OF THE MUSEUM ENCOMPASS CURATORIAL AND EXHIBITION MANAGEMENT, PUBLIC EDUCATION AND PROGRAMS MANAGEMENT, AND SCHOOL GROUP MANAGEMENT. THIS DIVISION ALSO OVERSEES THE MANAGEMENT OF GENEALOGY SERVICES, PROVIDING PUBLIC ACCESS TO GENEALOGY TRAINING, EDUCATION, AND DATABASES, AS WELL AS HISTORICAL RECORDS. THE DIVISION IS RESPONSIBLE FOR DELIVERING INTERPRETIVE AND EDUCATIONAL INITIATIVES ALIGNED WITH THE MUSEUM'S MISSION THROUGH GALLERY AND DIGITAL EXHIBITIONS, VIRTUAL AND IN-PERSON PROGRAMS, AND PUBLIC ENGAGEMENT ACTIVITIES. STEWARDSHIP OF THE MUSEUM'S COLLECTION, WHICH INCLUDES OVER 700 ART PIECES, OBJECTS, AND ARTIFACTS SPANNING FROM THE 17TH CENTURY TO THE 21ST CENTURY, FALLS UNDER THIS DIVISION. THE COLLECTION, FEATURING SIGNIFICANT WORKS FROM AFRICAN AMERICAN COMMUNITIES AND THE AFRICAN DIASPORA, WITH A FOCUS ON WEST AFRICAN AND CARIBBEAN COMMUNITIES, IS INTEGRAL TO THE MUSEUM'S MISSION AND EDUCATIONAL PROGRAMS. BY MANAGING AND ACTIVATING THESE COLLECTIONS, THE LEARNING AND ENGAGEMENT DIVISION ENHANCES THE MUSEUM'S ROLE AS AN EDUCATIONAL AND CULTURAL RESOURCE, FOSTERING A DEEPER UNDERSTANDING AND APPRECIATION OF AFRICAN AMERICAN HISTORY AND CULTURE.
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