Civic Intelligence

The Charleston Museum

990 • Fiscal year 2016 • EIN 57-6000318

Jan 01, 2016 to Dec 31, 2016 • Filed on May 01, 2017

360 Meeting StreetCharleston, SC 29403

(843) 722-2996

Siviq Scores

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

Liabilities / Assets

11th percentile

0.01x

Higher debt load relative to assets than 11% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

16th percentile

0.05x

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

32nd percentile

-1.3%

Higher net margin than 32% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

43rd percentile

$155,157

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

44th percentile

0.7%

Faster asset growth than 44% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

20th percentile

-12%

Faster revenue growth than 20% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$18,347,294

Up $122,267 (+0.7%) from 2015

Net Assets

Up

$18,226,527

Up $112,912 (+0.6%) from 2015

Liabilities

Up

$120,767

Up $9,355 (+8.4%) from 2015

Revenue

Down

$2,319,923

Down $306,406 (-12%) from 2015

Expenses

Up

$2,350,191

Up $110,219 (+4.9%) from 2015

Net Income

Down

-$30,268

Down $416,625 (-108%) from 2015

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $16,256,603Liabilities 2011: $124,203Net Assets 2011: $16,132,4002011Assets 2012: $17,044,148Liabilities 2012: $114,728Net Assets 2012: $16,929,4202012Assets 2013: $18,016,525Liabilities 2013: $93,647Net Assets 2013: $17,922,8782013Assets 2014: $18,208,067Liabilities 2014: $123,422Net Assets 2014: $18,084,6452014Assets 2015: $18,225,027Liabilities 2015: $111,412Net Assets 2015: $18,113,6152015Assets 2016: $18,347,294Liabilities 2016: $120,767Net Assets 2016: $18,226,5272016Assets 2017: $19,503,408Liabilities 2017: $105,606Net Assets 2017: $19,397,8022017Assets 2018: $18,860,618Liabilities 2018: $112,521Net Assets 2018: $18,748,0972018Assets 2019: $20,200,051Liabilities 2019: $77,464Net Assets 2019: $20,122,5872019Assets 2020: $21,566,497Liabilities 2020: $96,386Net Assets 2020: $21,470,1112020Assets 2021: $22,919,139Liabilities 2021: $108,282Net Assets 2021: $22,810,8572021Assets 2022: $21,029,699Liabilities 2022: $105,599Net Assets 2022: $20,924,1002022Assets 2023: $22,836,122Liabilities 2023: $123,126Net Assets 2023: $22,712,9962023Assets 2024: $24,450,272Liabilities 2024: $126,260Net Assets 2024: $24,324,0122024

Highlighted filing

2016

Assets$18,347,294
Liabilities$120,767
Net Assets$18,226,527

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,823,689Expenses 2011: $2,066,748Net Income 2011: -$243,0592011Revenue 2012: $2,074,656Expenses 2012: $2,001,248Net Income 2012: $73,4082012Revenue 2013: $2,152,551Expenses 2013: $2,088,078Net Income 2013: $64,4732013Revenue 2014: $2,363,442Expenses 2014: $2,171,690Net Income 2014: $191,7522014Revenue 2015: $2,626,329Expenses 2015: $2,239,972Net Income 2015: $386,3572015Revenue 2016: $2,319,923Expenses 2016: $2,350,191Net Income 2016: -$30,2682016Revenue 2017: $2,425,893Expenses 2017: $2,249,344Net Income 2017: $176,5492017Revenue 2018: $2,716,491Expenses 2018: $2,189,123Net Income 2018: $527,3682018Revenue 2019: $2,496,196Expenses 2019: $2,312,357Net Income 2019: $183,8392019Revenue 2020: $2,118,595Expenses 2020: $2,049,422Net Income 2020: $69,1732020Revenue 2021: $2,871,325Expenses 2021: $2,158,481Net Income 2021: $712,8442021Revenue 2022: $2,899,011Expenses 2022: $2,472,930Net Income 2022: $426,0812022Revenue 2023: $3,205,136Expenses 2023: $2,708,637Net Income 2023: $496,4992023Revenue 2024: $3,751,774Expenses 2024: $2,999,168Net Income 2024: $752,6062024

Highlighted filing

2016

Revenue$2,319,923
Expenses$2,350,191
Net Income-$30,268
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 1, 2017
Return Version
2016v3.0
Gross Receipts
$3,067,770
Mission and Program Overview

Mission

To educate charleston area residents and visitors about the natural and cultural history of the south carolina lowcountry through collections, exhibitions, preservation, conservation, research and related programming.

To educate charleston area residents and visitors about the natural and cultural history of the south carolina lowcountry through collections, exhibitions, preservation, programs and research.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,016,809$9,156,298▲ $139,489
Investments in Publicly Traded Securities$6,995,494$7,018,059▲ $22,565
Savings and Temporary Cash Investments$1,816,811$1,872,438▲ $55,627
Pledges and Grants Receivable$349,484$249,184▼ $100,300
Inventories for Sale or Use$37,426$42,805▲ $5,379
Prepaid Expenses and Deferred Charges$5,961$5,923▼ $38
Cash and Non-Interest-Bearing Accounts$3,042$2,587▼ $455
Total Assets$18,225,027$18,347,294▲ $122,267
Liabilities
Accounts Payable and Accrued Expenses$111,412$120,767▲ $9,355
Total Liabilities$111,412$120,767▲ $9,355
Net Assets / Fund Balance
Temporarily Rstr Net Assets$10,699,585$10,404,467▼ $295,118
Unrestricted Net Assets$7,414,030$7,822,060▲ $408,030
Total Net Assets Fund Balance$18,113,615$18,226,527▲ $112,912
Total Liabilities and Net Assets / Fund Balance$18,225,027$18,347,294▲ $122,267

Asset Categories

AssetBook ValueDepreciationBasis
Land$7,750,000-$7,750,000
Equipment$312,632$1,640,955$1,953,587
Leasehold Improvements$588,572$127,738$716,310
Buildings$467,694$133,727$601,421
Other Land Buildings$37,400-$37,400
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carl P Borick CPAExecutive DiFT$126,749$28,408$155,157
Carl P Borick CPAExecutive Director-$126,749$28,408$155,157

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$810,625
Program Service Revenue
$1,077,878
Investment Income
$296,484
Other Revenue
$134,936
All Other Contributions
$152,798
Change in Net Assets
$-30,268

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 Amount
Securities Publicly Traded1$7,353
Total Noncash Contributions1$7,353

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,348,301
Revenue Not Reported on Financial Statements
$-28,378
Revenue Not Reported on Form 990
$645,185
Other Revenue Adjustments
$-28,378
Total Revenue per Audited Statements
$2,993,486
Total Revenue per Form 990
$2,319,923
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,588,140
Other Expenses$762,051
Total Fundraising Expense$27,773
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$974,789$115,749-$1,090,538
Occupancy$178,151$33,597$3,585$215,333
Other Employee Benefits$175,837$29,217$3,117$208,171
Depreciation Depletion$123,523$6,501-$130,024
Current Officers, Directors, Trustees, and Key Employees$63,375$46,897$16,477$126,749
Payroll Taxes$75,635$12,381$1,321$89,337
Office Expenses$45,593$36,780$907$83,280
Pension Plan Contributions$61,632$10,584$1,129$73,345
All Other Expenses$42,168--$42,168
Advertising$30,894$813$813$32,520
Other Expenses$20,155--$20,155
Information Technology$12,068$4,924$228$17,220
Insurance$9,752$1,839$196$11,787
Fees for Services Accounting-$11,296-$11,296
Conferences and Meetings$4,047--$4,047
Travel$2,584$460-$3,044
Total Functional Expenses$2,011,380$311,038$27,773$2,350,191

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,880,574
Expenses per Audited Statements$2,350,191
Total Expenses per Form 990$2,350,191
Expenses Not Reported on Form 990$530,383
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$22,005
Fundraising Gross Income$11,350
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fans Gala$30,810$11,350$4,092$7,258
Total Events$30,810$11,350$22,005$-10,655
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
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
Yes
Other officer compensation reviewed
Yes
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 form 990 is prepared by the museum's independent cpa firm, then reviewed by the cfo and the director, a cpa. After this review it is provided to the board of directors for a comment period. At the end of this period, and once any questions or comments are addressed, the form 990 is released to the internal revenue service.

Form 990, Page 6, Part VI, Line 12C

Per the museum's code of ethics, members of the board of trustees are required to submit a trustee disclosure of conflicts of interest statement each year. Completed forms are sent to the museum director who reviews them and discusses any conflicts with the board president.

Form 990, Page 6, Part VI, Line 15A

The museum's annual budget is compiled by the director and chief financial officer. The budget is reviewed with the president and treasurer of the board of directors, then by the executive committee for provisional approval, and finally, by the full board for final approval. The director's salary is reviewed and approved by executive committee of the board of trustees. The salary level is derived based on performance and is compared to salary levels of executive directors from other non-profit cultural organizations in the charleston area using form 990 data from guidestar.org.

Form 990, Page 6, Part VI, Line 15B

Staff compensation for officers and key employees for the budget is based on prevailing salary levels plus a cost of living increase when feasible. Compensation levels are periodically evaluated against regional and state statistics for comparable positionsprovided by the u.s. Department of labor (i.e. Metropolitain and nonmetropolitain area occupantional employment and wage estimates) and other relevant data such as the american alliance of museums national comparative museum salary study.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents and conflict of interest policy available for public inspection upon request at its corporate offices.

Filing and Contact Details

Filer

Filer Name
The Charleston Museum
EIN
57-6000318
Phone
8437222996
Address
360 MEETING STREET, CHARLESTON, SC 29403

Signing Officer

Name
Carl P Borick CPA
Title
Executive Director
Phone
8437222996
Signed
2017-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carl P Borick CPA
Formed
1915
Legal Domicile
Sc
Voting Board Members
15
Independent Board Members
15
Employees
66
Volunteers
58

Preparer

Firm
Glaser and Company LLC
Address
1040 ANNA KNAPP BLVD, MT PLEASANT, SC 29464-3105
Preparer
Erik M Glaser CPA
Phone
8438490657
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

The collections database are available on the museum's website.

Form 990, Page 2, Part III, Line 4B

In 2017. Museum sites are open to the public 362 days each year.

Form 990, Page 2, Part III, Line 4C

Meet south carolina curriculum standards. The museum also presents educational summer camps, programs for home schoolers, and family events for parents to enjoy with their children. Adult programs include teacher recertification training, and public lectures, workshops, and specialized tours and walks.

Form 990, Part XI, Line 9

Fundraising events expense netted with revenue 22,005 part xi line 4b: inventory costs of goods sold netted on f 28,378 part xii line 2d: inventory costs sold are netted on form -28,378 fundraising events expense netted with revenue -22,005

Financial Statement Notes

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

As reported in note 1 to the audited financial statements, the museum's collection items, acquired through purchase or donation, are not capitalized. Purchase of collection items are recorded as decreases in unrestricted net assets if purchased with unrestricted net assets and as decreases in temporarily restricted net assets if purchased with donor restricted net assets.

Schedule D, Page 2, Part III, Line 4

The charleston museum was organized in 1773 for the purpose of preserving property and objects of cultural and natural significance. The museum property consists of the main museum, the dill sanctuary, and two historic houses, the joseph manigault house and the heyward-washington house. The main museum and the houses are open to residents and visitors of charleston, south carolina. Programs of the museum include public education, archaeological work, and the preservation and interpretation of natural and historic artifacts.collection objects are used for exhibition to the public at both the museum and historic houses, are often included in adult and children's programming, and are regularly made available for scholarly research.

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

Fundraising events expense netted with revenue 22,005

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

Part xi line 4b: inventory costs of goods sold netted on f -28,378

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

Part xii line 2d: inventory costs sold are netted on form 28,378 fundraising events expense netted with revenue 22,005

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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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IRS990/Desc0CURATION OF COLLECTIONS: THE CHARLESTON MUSEUM'S COLLECTIONS CONSIST OF THE MOST COMPREHENSIVE ASSEMBLAGE OF HISTORIC SOUTH CAROLINA CULTURAL AND SCIENTIFIC MATERIALS KNOWN, AND MANY HAVE NATIONAL OR INTERNATIONAL SIGNIFICANCE. THEY NUMBER OVER 297,000 LOTS AND WELL OVER 2,000,000 OBJECTS. COLLECTING FOCUSES INCLUDE ARCHIVAL MATERIALS, DECORATIVE ARTS, FIREARMS, FURNITURE, HISTORICAL ARCHAEOLOGY, CLOTHING AND OTHER TEXTILES, AND NATURAL HISTORY. THEY ARE OVERSEEN BY A CURATORIAL STAFF OF EIGHT PROFESSIONALS. SIGNIFICANT OBJECTS ARE ON DISPLAY TO THE VISITING PUBLIC IN EXHIBIT GALLERIES, WHILE OTHERS ARE USED FOR RESEARCH PURPOSES. A DIGITIZATION PROJECT IS UNDERWAY TO ELECTRONICALLY CATALOG COLLECTIONS AND SEGMENTS OF THE COLLECTIONS DATABASE ARE AVAILABLE ON THE MUSEUM'S WEBSITE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt15EXECUTIVE DI
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IRS990/MissionDesc0TO EDUCATE CHARLESTON AREA RESIDENTS AND VISITORS ABOUT THE NATURAL AND CULTURAL HISTORY OF THE SOUTH CAROLINA LOWCOUNTRY THROUGH COLLECTIONS, EXHIBITIONS, PRESERVATION, PROGRAMS AND RESEARCH.
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IRS990/ProgramServiceRevenueGrp/Desc0MUSEUM ADMISSIONS
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IRS990/ProgramServiceRevenueGrp/Desc2EDUCATIONAL PROGRAMS
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IRS990/ProgSrvcAccomActy2Grp/Desc0EXHIBITION, INTERPRETATION AND FACILITIES OPERATIONS: THROUGH EXHIBITION AND INTERPRETATION OF ITS COLLECTIONS, THE CHARLESTON MUSEUM SEEKS TO EDUCATE THE GENERAL PUBLIC ABOUT THE NATURAL AND CULTURAL HISTORY OF THE SOUTH CAROLINA LOWCOUNTRY. STAFF DO THIS THROUGH PERMANENT AND SPECIAL TEMPORARY EXHIBITIONS AT THE MAIN MUSEUM FACILITY AND BY PRESENTING TOURS OF THE MUSEUM'S TWO NATIONAL HISTORIC LANDMARK HOUSES, THE HEYWARD-WASHINGTON HOUSE (C. 1772) AND JOSEPH MANIGAULT HOUSE (C. 1803). PERMANENT EXHIBITS PRESENT A COMPREHENSIVE OVERVIEW OF REGIONAL HERITAGE, WHILE TEMPORARY EXHIBITS FOCUS ON DIVERSE ASPECTS OF LOWCOUNTRY HISTORY AND FEATURE RARELY DISPLAYED ARTIFACTS. PLANS ARE UNDERWAY FOR A COMPLETE RENOVATION OF THE MUSEUM'S NATURAL HISTORY GALLERY, SCHEDULED TO TAKE PLACE IN 2017. MUSEUM SITES ARE OPEN TO THE PUBLIC 362 DAYS EACH YEAR.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01079436
IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATIONAL PROGRAMS: EDUCATION PROGRAMS FOR ADULTS AND CHILDREN ARE A KEY COMPONENT OF THE CHARLESTON MUSEUM'S MISSION. THE MUSEUM HAS TRADITIONALLY PLACED GREAT EMPHASIS ON CHILDREN'S EDUCATION AND ROUTINELY HOSTS SCHOOL FIELD TRIPS FROM AROUND THE STATE. IN THE LAST THREE SCHOOL YEARS, ALL FOURTH GRADERS FROM CHARLESTON COUNTY SCHOOL DISTRICT HAVE VISITED THE MUSEUM'S HEYWARD- WASHINGTON HOUSE. THREE FULL-TIME EDUCATION DEPARTMENT STAFF, ASSISTED BY A CORPS OF PART-TIME STAFF AND VOLUNTEERS, OFFER OVER TWENTY PROGRAMS FOR SCHOOL GROUPS, INCLUDING TOPICS RELATED TO NATIVE AMERICANS, AFRICAN AMERICAN HISTORY, THE AMERICAN REVOLUTION, CIVIL WAR, ARCHAEOLOGY, PALEONTOLOGY, ARCHITECTURE, AND HISTORIC CRAFTS. PROGRAMS ARE DESIGNED TO MEET SOUTH CAROLINA CURRICULUM STANDARDS. THE MUSEUM ALSO PRESENTS EDUCATIONAL SUMMER CAMPS, PROGRAMS FOR HOME SCHOOLERS, AND FAMILY EVENTS FOR PARENTS TO ENJOY WITH THEIR CHILDREN. ADULT PROGRAMS INCLUDE TEACHER RECERTIFICATION TRAINING, AND PUBLIC LECTURES, WORKSHOPS, AND SPECIALIZED TOURS AND WALKS.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.5$0.13$24.3$3.75$3.00$0.75
2023Detailed filing. Detailed filing data is available for this year.$22.8$0.12$22.7$3.21$2.71$0.50
2022Detailed filing. Detailed filing data is available for this year.$21.0$0.11$20.9$2.90$2.47$0.43
2021Detailed filing. Detailed filing data is available for this year.$22.9$0.11$22.8$2.87$2.16$0.71
2020Detailed filing. Detailed filing data is available for this year.$21.6$0.10$21.5$2.12$2.05$0.07
2019Detailed filing. Detailed filing data is available for this year.$20.2$0.08$20.1$2.50$2.31$0.18
2018Detailed filing. Detailed filing data is available for this year.$18.9$0.11$18.7$2.72$2.19$0.53
2017Detailed filing. Detailed filing data is available for this year.$19.5$0.11$19.4$2.43$2.25$0.18
2016Detailed filing. Detailed filing data is available for this year.$18.3$0.12$18.2$2.32$2.35$0.03
2015Detailed filing. Detailed filing data is available for this year.$18.2$0.11$18.1$2.63$2.24$0.39
2014Detailed filing. Detailed filing data is available for this year.$18.2$0.12$18.1$2.36$2.17$0.19
2013Detailed filing. Detailed filing data is available for this year.$18.0$0.09$17.9$2.15$2.09$0.06
2012Summary only. Only limited summary data is available for this year.$17.0$0.11$16.9$2.07$2.00$0.07
2011Summary only. Only limited summary data is available for this year.$16.3$0.12$16.1$1.82$2.07$0.24