Civic Intelligence

Key West Art and Historical Society

EIN 59-0660461 • 501(c)3 • Key West, FL

Profile

Promote humanities, art and history of the florida keys.

281 Front StreetKey West, FL 33040

www.kwahs.com

Siviq Scores

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

Liabilities / Assets

46th percentile

0.04x

Higher debt load relative to assets than 46% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

48th percentile

0.06x

Higher debt load relative to revenue than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

58th percentile

8.7%

Higher net margin than 58% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

85th percentile

$165,404

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

38th percentile

0.6%

Faster revenue growth than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,313,169

Up $532,359 (+14%) from 2023

Liabilities

Up

$190,554

Up $17,131 (+9.9%) from 2023

Net Assets

Up

$4,122,615

Up $515,228 (+14%) from 2023

Revenue

Up

$2,944,967

Up $18,486 (+0.6%) from 2023

Expenses

Down

$2,688,087

Down $44,109 (-1.6%) from 2023

Net Income

Up

$256,880

Up $62,595 (+32%) from 2023

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $1,135,678Liabilities 2011: $226,056Net Assets 2011: $909,6222011Assets 2012: $1,018,970Liabilities 2012: $207,573Net Assets 2012: $811,3972012Assets 2013: $1,003,890Liabilities 2013: $192,616Net Assets 2013: $811,2742013Assets 2014: $1,433,176Liabilities 2014: $209,918Net Assets 2014: $1,223,2582014Assets 2015: $1,719,490Liabilities 2015: $270,704Net Assets 2015: $1,448,7862015Assets 2016: $1,775,683Liabilities 2016: $95,775Net Assets 2016: $1,679,9082016Assets 2017: $2,154,427Liabilities 2017: $160,395Net Assets 2017: $1,994,0322017Assets 2018: $2,554,132Liabilities 2018: $260,078Net Assets 2018: $2,294,0542018Assets 2019: $2,552,742Liabilities 2019: $260,688Net Assets 2019: $2,292,0542019Assets 2020: $2,369,475Liabilities 2020: $120,530Net Assets 2020: $2,248,9452020Assets 2021: $3,638,372Liabilities 2021: $230,920Net Assets 2021: $3,407,4522021Assets 2022: $3,761,615Liabilities 2022: $507,043Net Assets 2022: $3,254,5722022Assets 2023: $3,780,810Liabilities 2023: $173,423Net Assets 2023: $3,607,3872023Assets 2024: $4,313,169Liabilities 2024: $190,554Net Assets 2024: $4,122,6152024

Highlighted filing

2024

Assets$4,313,169
Liabilities$190,554
Net Assets$4,122,615

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $952,046Expenses 2011: $1,039,338Net Income 2011: -$87,2922011Revenue 2012: $1,037,274Expenses 2012: $1,067,884Net Income 2012: -$30,6102012Expenses 2013: $1,096,1572013Revenue 2014: $1,550,065Expenses 2014: $1,148,164Net Income 2014: $401,9012014Revenue 2015: $1,564,153Expenses 2015: $1,368,035Net Income 2015: $196,1182015Revenue 2016: $1,822,839Expenses 2016: $1,575,953Net Income 2016: $246,8862016Revenue 2017: $1,957,408Expenses 2017: $1,734,879Net Income 2017: $222,5292017Revenue 2018: $2,293,221Expenses 2018: $2,024,991Net Income 2018: $268,2302018Revenue 2019: $2,056,995Expenses 2019: $2,060,852Net Income 2019: -$3,8572019Revenue 2020: $1,676,289Expenses 2020: $1,681,069Net Income 2020: -$4,7802020Revenue 2021: $2,771,144Expenses 2021: $1,666,944Net Income 2021: $1,104,2002021Revenue 2022: $2,563,434Expenses 2022: $2,475,487Net Income 2022: $87,9472022Revenue 2023: $2,926,481Expenses 2023: $2,732,196Net Income 2023: $194,2852023Revenue 2024: $2,944,967Expenses 2024: $2,688,087Net Income 2024: $256,8802024

Highlighted filing

2024

Revenue$2,944,967
Expenses$2,688,087
Net Income$256,880

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.31$0.19$4.12$2.94$2.69$0.26
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.78$0.17$3.61$2.93$2.73$0.19
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.76$0.51$3.25$2.56$2.48$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.64$0.23$3.41$2.77$1.67$1.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.37$0.12$2.25$1.68$1.68$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.55$0.26$2.29$2.06$2.06$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.55$0.26$2.29$2.29$2.02$0.27
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.15$0.16$1.99$1.96$1.73$0.22
2016Detailed filing. Detailed filing data is available for this year.$1.78$0.10$1.68$1.82$1.58$0.25
2015Detailed filing. Detailed filing data is available for this year.$1.72$0.27$1.45$1.56$1.37$0.20
2014Detailed filing. Detailed filing data is available for this year.$1.43$0.21$1.22$1.55$1.15$0.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.19$0.81$1.10
2012Summary only. Only limited summary data is available for this year.$1.02$0.21$0.81$1.04$1.07$0.03
2011Summary only. Only limited summary data is available for this year.$1.14$0.23$0.91$0.95$1.04$0.09
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Aug 29, 2023
Return Version
2021v4.2
Gross Receipts
$2,807,406
Mission and Program Overview

Mission

Promote humanities, art and history of the florida keys.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,181,486$1,349,089▲ $167,603
Investments in Publicly Traded Securities$930,549$1,149,192▲ $218,643
Cash and Non-Interest-Bearing Accounts$752,460$753,374▲ $914
Inventories for Sale or Use$149,002$143,017▼ $5,985
Pledges and Grants Receivable$113,433$55,605▼ $57,828
Prepaid Expenses and Deferred Charges$173,781$37,090▼ $136,691
Intangible Assets$20,016$20,016→ $0
Total Assets$3,638,372$3,761,615▲ $123,243
Other Assets Total$317,645$254,232▼ $63,413
Liabilities
Mortgage Notes Payable Secured by Investment Property-$263,157-
Accounts Payable and Accrued Expenses$137,423$124,675▼ $12,748
Deferred Revenue$93,497$119,211▲ $25,714
Total Liabilities$230,920$507,043▲ $276,123
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,916,548$2,763,668▼ $152,880
Net Assets With Donor Restrictions$490,904$490,904→ $0
Total Net Assets Fund Balance$3,407,452$3,254,572▼ $152,880
Total Liabilities and Net Assets / Fund Balance$3,638,372$3,761,615▲ $123,243

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$924,248$738,813$1,663,061
Equipment$424,841$465,586$890,427
Other Assets Org$254,232--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$194,303-▼ $36,509-$155,514
2020$175,183-▲ $42,479-$194,303
2019$172,053-▲ $5,244-$175,183
2018$174,015-▲ $66-$172,053
2017$164,143-▲ $11,983-$174,015
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael GiedaExecutive DirectorFT$141,277$141,277

Board Members and Trustees

NameTitle
Enid TorregrosaPresident
JOHN O'LEARY1st Vice President
Sam Kaufman2nd Vice President
Ben HarrisonDirector
Dakin WeeklyDirector
Donna BosoldDirector
Michael ShieldsDirector
Sharon WellsDirector
Emma StarrSecretary
Jay HallTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$318,938
Program Service Revenue
$1,599,378
Investment Income
$34,657
Other Revenue
$610,461
All Other Contributions
$209,707
Change in Net Assets
$87,947

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,563,434
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$27,145
Total Revenue per Audited Statements
$2,590,579
Total Revenue per Form 990
$2,563,434
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,363,657
Salaries, Compensation, and Employee Benefits$1,111,830
Total Fundraising Expense$120,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$623,735$133,756$20,175$777,666
Office Expenses$167,984$10,397$5,263$183,644
Occupancy$143,125--$143,125
Current Officers, Directors, Trustees, and Key Employees$47,093$47,092$47,092$141,277
Depreciation Depletion$133,262--$133,262
Other Employee Benefits$78,762$21,233$7,898$107,893
Advertising$87,105$4,166$16,266$107,537
Fees for Services Other$70,052$15,227-$85,279
Insurance$71,190$1,727-$72,917
Payroll Taxes$52,072$14,038$5,222$71,332
Travel$17,741$680$1,292$19,713
Pension Plan Contributions$9,973$2,689$1,000$13,662
Other Expenses$7,117$2,492$817$9,609
All Other Expenses$5,406--$5,406
Interest$735--$735
Total Functional Expenses$2,099,905$255,555$120,027$2,475,487

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,743,459
Expenses per Audited Statements$2,475,487
Total Expenses per Form 990$2,475,487
Expenses Not Reported on Form 990$267,972
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$25,450
Fundraising Direct Expenses$6,852
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Brick Fundraiser$25,450$25,450$6,852$18,598
Total Events$25,450$25,450$6,852$18,598
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
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
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 B, Line 11B

The organization's top management official and top financial official, each review the form 990 prior to its filing with the irs. A copy of the final form 990 is also provided to the voting members of the organization's governning body prior to its filing with the irs.

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

The organization's conflict of interest policy is distributed to each member of the organization's governing body, its officers and its key employees on an annual basis. Each such individual provides an annual disclosure statement indicating that they have received, read, understood and agreed to comply with the policy, and certifying that: (1) they have no relationships or interests that present a conflict of interest, (2) they have one or more conflicts of interest that have been fully disclosed as required by the policy and have been properly administered in conformity with the policy, or (3) they have previously undisclosed conflicts of interest and disclosing the details of such conflicts. Any disclosure statements with previously undisclosed conflicts of interest are forwarded to appropiate organization officials to take appropiate actions as required by the policy.

Form 990, Part VI, Section B, Line 15A

The organization has adopted an executive compensation setting policy applicable to the organization's ceo. Under the policy, an independent executive committee of the board of directors annually reviews and approves the compensation level of the ceo. The deliberations and decisions of the committee are contemporaneously substantiated. The committee utilizes comparability data in its deliberations; updated comparability data is generally obtained every two to five years.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Key West Art and Historical Society
EIN
59-0660461
Phone
3052956616
Address
281 FRONT STREET, KEY WEST, FL 33040

Signing Officer

Name
Michael Gieda
Title
Executive Director
Phone
3052956616
Signed
2023-08-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Gieda
Formed
1957
Legal Domicile
Fl
Voting Board Members
10
Independent Board Members
10
Employees
34
Volunteers
25

Preparer

Firm
Verdeja De Armas Trujillo Alvarez Llp
Address
255 ALHAMBRA CIR STE 630, CORAL GABLES, FL 33134-7417
Preparer
Octavio R Verdeja
Phone
3054463177
Supplemental Narrative

Additional Explanations

Amended Return

Taxpayer erroneously omitted one of the board member.

Financial Statement Notes

PART X, LINE 2:

The organization has adopted the provisions of asc no 740, "accounting for uncertainty in income taxes" ("asc no 740"). Asc 740 required that the impact of tax positions to be recognized in the financial statements if they are more likely than not of being sustained upon examination. Accordingly, no provision for income taxes is made in the financial statements. At 9/30/22, there were no uncertain tax positions. The organization files tax returns with us federal and other tax authorities for which statue limitations may go back to the year ended 2019.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 237,120. Special event expenses 6,852.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 237,120. Special event expenses 6,852.

Raw XML AppendixShowing 400 of 564 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
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0137423
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0124675
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PROMOTE HUMANITIES, ART AND HISTORY OF THE FLORIDA KEYS.
IRS990/AdvertisingGrp/FundraisingAmt016266
IRS990/AdvertisingGrp/ManagementAndGeneralAmt04166
IRS990/AdvertisingGrp/ProgramServicesAmt087105
IRS990/AdvertisingGrp/TotalAmt0107537
IRS990/AllOtherContributionsAmt0209707
IRS990/AllOtherExpensesGrp/ProgramServicesAmt05406
IRS990/AllOtherExpensesGrp/TotalAmt05406
IRS990/AmendedReturnInd0X
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0MICHAEL GIEDA
IRS990/BooksInCareOfDetail/PhoneNum03052956616
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0281 FRONT STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0KEY WEST
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0FL
IRS990/BooksInCareOfDetail/USAddress/ZIPCd033040
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
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IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/FundraisingAmt047092
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IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt047093
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0141277
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
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IRS990/CreditCounselingInd00
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IRS990/CYOtherExpensesAmt01363657
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IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt02563434
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
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IRS990/DeferredRevenueGrp/EOYAmt0119211
IRS990/DelegationOfMgmtDutiesInd00
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IRS990/DepreciationDepletionGrp/TotalAmt0133262
IRS990/Desc0THE KEY WEST ART AND HISTORICAL SOCIETY HOSTED SEVERAL ROTATING EXHIBITS AT THE CUSTOM HOUSE MUSEUM, UPDATED DISPLAYS AT ITS OTHER 3 MUSEUMS. THE SOCIETY CONTINUED ITS YOUTH AND ADULT EDUCATION PROGRAMS LIKE ARTCAMP! LITTLES ON THE LAWN, PARENT & ME, HISTORIC HARBOR SAILS, DISTINGUISHED SPEAKER SERIES, HAPPY HOUR WITH THE HISTORIAN, AND MORE. EDUCATION STAFF PERFORMED OUTREACH TO NUMEROUS LOCAL SCHOOLS WITHIN THE DISTRICT. ADDITIONALLY, SIGNATURE SPECIAL EVENTS LIKE THE CUSTOM HOUSE HOLIDAY CONCERT & BAZAAR, CONCH REVIVAL PICNIC, TENNESSEE WILLIAMS BIRTHDAY CELEBRATION, AND KEY LIME PIE DROP WERE HELD AT THE MUSEUMS. THE SOCIETY ALSO CONTINUED ITS CAPITAL IMPROVEMENTS TO THE CUSTOM HOUSE, SUCCESSFULLY COMPLETING UPGRADES TO THE AGING MECHANICAL SYSTEM.
IRS990/DescribedInSection501c3Ind01
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IRS990/FeesForServicesOtherGrp/TotalAmt085279
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IRS990/Form990PartVIISectionAGrp/PersonNm1JAY HALL
IRS990/Form990PartVIISectionAGrp/PersonNm2MICHAEL SHIELDS
IRS990/Form990PartVIISectionAGrp/PersonNm3BEN HARRISON
IRS990/Form990PartVIISectionAGrp/PersonNm4DONNA BOSOLD
IRS990/Form990PartVIISectionAGrp/PersonNm5SHARON WELLS
IRS990/Form990PartVIISectionAGrp/PersonNm6JOHN O'LEARY
IRS990/Form990PartVIISectionAGrp/PersonNm7SAM KAUFMAN
IRS990/Form990PartVIISectionAGrp/PersonNm8EMMA STARR
IRS990/Form990PartVIISectionAGrp/PersonNm9DAKIN WEEKLY
IRS990/Form990PartVIISectionAGrp/PersonNm10MICHAEL GIEDA
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt61ST VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt72ND VICE PRESIDENT
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IRS990/ProgSrvcAccomActy2Grp/Desc0OPERATION OF MUSEUM GIFT STORES, WHICH PROVIDE PATRONS OF THE MUSEUMS WITH ART, BOOKS AND OTHER EDUCATIONAL ITEMS RELATED TO KEY WEST AND ITS HISTORY.
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IRS990/ProgSrvcAccomActy3Grp/Desc0CONDUCT EDUCATIONAL PROGRAMS, INTRODUCING ADULTS AND CHILDREN TO THE JOYS OF LEARNING HISTORY AND CREATING ART. PROGRAMMING: -ARTCAMP: ARTCAMP IS AN ANNUAL PROGRAM DURING THE SUMMER PROVIDING HALF-DAY AND FULL-DAY ART CLASSES TO CHILDREN. SCHOLARSHIPS ARE PROVIDED FOR MANY UNDERPRIVILEGED CHILDREN. ARTCAMP RAN FOR FIVE WEEKS DURING THE SUMMER. -THE DISTINGUISHED SPEAKER SERIES, WHICH BEGAN IN FISCAL YEAR 2014, CONTINUED THROUGH FISCAL YEAR 2017. THIS SERIES FOCUSED ON HOUR-LONG TALKS EVERY OTHER THURSDAY NOVEMBER THROUGH APRIL. SPEAKERS INCLUDED LOCAL ARTISTS AND HISTORIANS, AS WELL JOHN HEMINGWAY, GRANDSON OF ERNEST HEMINGWAY, AND TD ALLMAN. -CURATOR SESSIONS BEGAN - A MONTHLY HOUR-LONG TALK WITH OUR CURATOR ABOUT RELEVANT TOPICS, TAKING PLACE AT THE CUSTOM HOUSE MUSEUM.
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