Civic Intelligence

Peoria Riverfront Museum

990 • Fiscal year 2020 • EIN 27-2920016

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 26, 2020

Refreshing map…

222 SW Washington StreetPeoria, IL 61602

(309) 686-7000

Siviq Scores

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

Liabilities / Assets

24th percentile

0.04x

Higher debt load relative to assets than 24% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

35th percentile

0.17x

Higher debt load relative to revenue than 35% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

9th percentile

-32%

Higher net margin than 9% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

40th percentile

$147,196

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

11th percentile

-5.5%

Faster asset growth than 11% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

14th percentile

-29%

Faster revenue growth than 14% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$15,264,890

Down $889,392 (-5.5%) from 2019

Net Assets

Down

$14,669,034

Down $1,103,205 (-7.0%) from 2019

Liabilities

Up

$595,856

Up $213,813 (+56%) from 2019

Revenue

Down

$3,418,263

Down $1,371,154 (-29%) from 2019

Expenses

Up

$4,521,468

Up $217,842 (+5.1%) from 2019

Net Income

Down

-$1,103,205

Down $1,588,996 (-327%) from 2019

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2012: $9,505Liabilities 2012: $0Net Assets 2012: $9,5052012Assets 2014: $24,488,623Liabilities 2014: $247,996Net Assets 2014: $24,240,6272014Assets 2015: $21,307,458Liabilities 2015: $343,967Net Assets 2015: $20,963,4912015Assets 2017: $16,951,208Liabilities 2017: $334,261Net Assets 2017: $16,616,9472017Assets 2018: $15,694,181Liabilities 2018: $402,755Net Assets 2018: $15,291,4262018Assets 2019: $16,154,282Liabilities 2019: $382,043Net Assets 2019: $15,772,2392019Assets 2020: $15,264,890Liabilities 2020: $595,856Net Assets 2020: $14,669,0342020Assets 2021: $12,800,278Liabilities 2021: $591,249Net Assets 2021: $12,209,0292021Assets 2022: $12,190,456Liabilities 2022: $274,046Net Assets 2022: $11,916,4102022Assets 2023: $13,482,889Liabilities 2023: $733,325Net Assets 2023: $12,749,5642023

Highlighted filing

2020

Assets$15,264,890
Liabilities$595,856
Net Assets$14,669,034

Operations Trend

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

$10M$5.0M$0-$5.0M-$10MExpenses 2012: $202012Revenue 2014: $2,522,609Expenses 2014: $8,392,758Net Income 2014: -$5,870,1492014Revenue 2015: $4,004,074Expenses 2015: $7,281,210Net Income 2015: -$3,277,1362015Revenue 2017: $3,145,123Expenses 2017: $4,581,439Net Income 2017: -$1,436,3162017Revenue 2018: $2,894,614Expenses 2018: $4,220,135Net Income 2018: -$1,325,5212018Revenue 2019: $4,789,417Expenses 2019: $4,303,626Net Income 2019: $485,7912019Revenue 2020: $3,418,263Expenses 2020: $4,521,468Net Income 2020: -$1,103,2052020Revenue 2021: $1,069,468Expenses 2021: $3,529,473Net Income 2021: -$2,460,0052021Revenue 2022: $4,223,811Expenses 2022: $4,516,430Net Income 2022: -$292,6192022Revenue 2023: $5,709,186Expenses 2023: $4,876,032Net Income 2023: $833,1542023

Highlighted filing

2020

Revenue$3,418,263
Expenses$4,521,468
Net Income-$1,103,205
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 26, 2020
Return Version
2019v5.0
Gross Receipts
$3,602,894
Mission and Program Overview

Mission

To inspire lifelong learning for all, connecting art, history, science and achievement through collections, exhibitions, and programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,253,205$11,794,812▼ $458,393
Cash and Non-Interest-Bearing Accounts$1,598,597$1,898,564▲ $299,967
Pledges and Grants Receivable$1,876,228$1,130,194▼ $746,034
Prepaid Expenses and Deferred Charges$319,090$343,727▲ $24,637
Inventories for Sale or Use$55,089$52,015▼ $3,074
Accounts Receivable$52,073$45,578▼ $6,495
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$16,154,282$15,264,890▼ $889,392
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$0$353,800▲ $353,800
Accounts Payable and Accrued Expenses$189,161$173,505▼ $15,656
Deferred Revenue$192,882$43,551▼ $149,331
Other Liabilities$0$25,000▲ $25,000
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$382,043$595,856▲ $213,813
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,467,929$11,803,614▼ $664,315
Net Assets With Donor Restrictions$3,304,310$2,865,420▼ $438,890
Total Net Assets Fund Balance$15,772,239$14,669,034▼ $1,103,205
Total Liabilities and Net Assets / Fund Balance$16,154,282$15,264,890▼ $889,392

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$10,880,857$4,126,328$15,007,185
Equipment$913,955$4,289,617$5,203,572
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John MorrisPresident & CEOFT$130,739$16,457$147,196
Ruth BittnerVP of FinanceFT$72,838$7,961$80,799

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Vonachen Services Incjanitorial8900 N Pioneer Rd, Peoria, IL 61615$103,617
Revenue and Support

Revenue Composition

Contributions and Grants
$2,082,940
Program Service Revenue
$1,057,597
Investment Income
$11,187
Other Revenue
$266,539
All Other Contributions
$1,009,583
Change in Net Assets
$-1,103,205

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$7,000market value
Total Noncash Contributions1$7,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,418,263
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$890,908
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$4,309,171
Total Revenue per Form 990
$3,418,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,590,829
Salaries, Compensation, and Employee Benefits$1,930,639
Total Fundraising Expense$231,911
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,083,904$210,219$116,845$1,410,968
Depreciation Depletion$484,191$161,397$0$645,588
Occupancy$177,901$118,035$0$295,936
Current Officers, Directors, Trustees, and Key Employees$55,224$151,494$55,224$261,942
Advertising$180,360$0$0$180,360
All Other Expenses$83,873$17,864$21,116$122,853
Payroll Taxes$83,144$25,455$11,557$120,156
Other Employee Benefits$86,102$19,648$13,615$119,365
Office Expenses$45,802$45,284$11,164$102,250
Insurance$41,534$60,365$0$101,899
Information Technology$37,443$32,750$202$70,395
Other Expenses$68,918$0$0$68,918
Fees for Services Accounting$0$28,819$0$28,819
Pension Plan Contributions$15,367$778$2,063$18,208
Fees for Services Other$9,461$113$0$9,574
Conferences and Meetings$1,605$3,002$125$4,732
Travel$1,467$1,856$0$3,323
Total Functional Expenses$3,393,622$895,935$231,911$4,521,468

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,412,376
Expenses per Audited Statements$4,521,468
Total Expenses per Form 990$4,521,468
Expenses Not Reported on Form 990$890,908
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$157,936
Fundraising Direct Expenses$36,179
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
4th of July$105,218$105,218$25,595$79,623
Holiday Lunch$49,953$49,953$10,455$39,498
Total Events$155,171$155,171$36,050$119,121
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Peoria Riverfront Museum Foundation$25,000
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 A, Line 2

Alison Cullinan Unkovich and Laura Schachtrip Cullinan are sisters-in-law.

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

The Form 990 is reviewed by the President and presented to the Board for approval. Board approval may occur after filing due to timing of meetings.

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

The organization requires each director, principal officer and member of a committee with governing board delegated powers to annually sign a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, and understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. To enforce compliance, the organization reviews whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes, and do not result in inurement, impermissible private benefit, or in an excess benefit transaction.

Form 990, Part VI, Section B, Line 15

The compensation for the CEO is determined and approved by the Executive Committee using comparables in wage surveys for the industry. The compensation for all other employees is determined and approved by the CEO, with assistance from the VP of Finance, also using comparables in wage surveys in the industry in addition to reviewing current market conditions. The proposed salaries for all staff are incorporated into the proposed budget presented to the Executive Committee and the Finance Committee, and the entire Board of Directors then approves the overall budget.

Form 990, Part VI, Section C, Line 19

All governing documents and financial statements are available to the public upon written request to the office.

Filing and Contact Details

Filer

Filer Name
Peoria Riverfront Museum
EIN
27-2920016
Phone
3096867000
Address
222 SW Washington Street, Peoria, IL 61602

Signing Officer

Name
John Morris
Title
President and CEO
Phone
3098633001
Signed
2020-10-26

Organization Details

Principal Officer
John Morris
Formed
2010
Legal Domicile
Il
Voting Board Members
21
Independent Board Members
21
Employees
95
Volunteers
216
Supplemental Narrative

Financial Statement Notes

Schedule D, Part III, Line 1

Lakeview Museum's and Peoria Riverfront Museum's collections are made up of art objects and artifacts of historical significance that are held for educational, research, scientific, and curatorial purposes. Each of the items is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously. Purchases for the collection are recorded as expenditures for the acquisition of art objects in the consolidated statement of activities in the year in which the objects are acquired. In keeping with standard museum practice, the collections, which were acquired via purchases and contributions, are not recognized as assets on the consolidated statements of financial position.

Schedule D, Part III, Line 4

See statement for Part III Line 1

Schedule D, Part X, Line 2

The Peoria Riverfront Museum, Lakeview Museum, and Peoria Riverfront Museum Foundation are exempt from federal income taxes on related income under Section 501(c)(3) of the IRC and, accordingly, no provisions for such taxes have been made. The Museum has reviewed tax positions taken for filing with the IRS and the Illinois Department of Revenue. The Museum believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the Museum's financial condition, results of operations, or cash flows. Accordingly, the Museum has not recorded any reserves for uncertain income tax positions at June 30, 2020 and 2019. The Museum is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Schedule D, Part XI, Line 2D

Fundraising expenses net against revenue of financial statements $36,179; rental expense $11,793; ancillaries cost of goods sold $136,659

Schedule D, Part XII, Line 2D

Fundraising expenses net against revenue on financial statements $36,179; rental expense $11,793; ancillaries cost of goods sold $136,659

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IRS990/Form990PartVIISectionAGrp/PersonNm2Craig Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm3Todd Baker
IRS990/Form990PartVIISectionAGrp/PersonNm4Jim Carballido
IRS990/Form990PartVIISectionAGrp/PersonNm5Chris Coulter
IRS990/Form990PartVIISectionAGrp/PersonNm6Laura Cullinan
IRS990/Form990PartVIISectionAGrp/PersonNm7Colleen DiGiallonardo
IRS990/Form990PartVIISectionAGrp/PersonNm8Lee Fosburgh
IRS990/Form990PartVIISectionAGrp/PersonNm9Lisa Gates
IRS990/Form990PartVIISectionAGrp/PersonNm10Greg Gerontes
IRS990/Form990PartVIISectionAGrp/PersonNm11Eric Heard
IRS990/Form990PartVIISectionAGrp/PersonNm12Steve Jackson
IRS990/Form990PartVIISectionAGrp/PersonNm13Katie McCord Jenkins
IRS990/Form990PartVIISectionAGrp/PersonNm14Karen Jensen
IRS990/Form990PartVIISectionAGrp/PersonNm15Brian Ray
IRS990/Form990PartVIISectionAGrp/PersonNm16Derek Schryer
IRS990/Form990PartVIISectionAGrp/PersonNm17Mark Spenny
IRS990/Form990PartVIISectionAGrp/PersonNm18Josh Swank
IRS990/Form990PartVIISectionAGrp/PersonNm19Alison Unkovich
IRS990/Form990PartVIISectionAGrp/PersonNm20Seth Uphoff
IRS990/Form990PartVIISectionAGrp/PersonNm21Darren Yergler
IRS990/Form990PartVIISectionAGrp/PersonNm22Sarah Zallek
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
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Filings

Peer Organizations

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