Civic Intelligence

Creative Discovery Museum

990 • Fiscal year 2022 • EIN 62-1509462

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

321 CHESTNUT STREET PO Box 6339Chattanooga, TN 37402

(423) 756-2738

Siviq Scores

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

Liabilities / Assets

46th percentile

0.19x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

0.75x

Higher debt load relative to revenue than 72% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

80th percentile

29%

Higher net margin than 80% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

26th percentile

$165,171

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

81st percentile

19%

Faster asset growth than 81% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

60th percentile

9.7%

Faster revenue growth than 60% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Up

$25,252,992

Up $4,065,808 (+19%) from 2021

Net Assets

Up

$20,575,160

Up $419,404 (+2.1%) from 2021

Liabilities

Up

$4,677,832

Up $3,646,404 (+354%) from 2021

Revenue

Up

$6,266,199

Up $553,291 (+9.7%) from 2021

Expenses

Up

$4,441,400

Up $964,173 (+28%) from 2021

Net Income

Down

$1,824,799

Down $410,882 (-18%) from 2021

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $9,854,148Liabilities 2010: $436,406Net Assets 2010: $9,417,7422010Assets 2011: $9,185,686Liabilities 2011: $473,479Net Assets 2011: $8,712,2072011Assets 2012: $8,868,051Liabilities 2012: $461,284Net Assets 2012: $8,406,7672012Assets 2013: $8,882,722Liabilities 2013: $665,099Net Assets 2013: $8,217,6232013Assets 2014: $8,502,311Liabilities 2014: $586,568Net Assets 2014: $7,915,7432014Assets 2015: $8,236,600Liabilities 2015: $537,723Net Assets 2015: $7,698,8772015Assets 2016: $8,067,311Liabilities 2016: $551,424Net Assets 2016: $7,515,8872016Assets 2017: $7,904,046Liabilities 2017: $565,482Net Assets 2017: $7,338,5642017Assets 2018: $11,801,369Liabilities 2018: $911,189Net Assets 2018: $10,890,1802018Assets 2019: $15,889,084Liabilities 2019: $1,209,899Net Assets 2019: $14,679,1852019Assets 2020: $18,457,640Liabilities 2020: $1,067,473Net Assets 2020: $17,390,1672020Assets 2021: $21,187,184Liabilities 2021: $1,031,428Net Assets 2021: $20,155,7562021Assets 2022: $25,252,992Liabilities 2022: $4,677,832Net Assets 2022: $20,575,1602022Assets 2023: $25,077,546Liabilities 2023: $4,493,626Net Assets 2023: $20,583,9202023Assets 2024: $23,587,316Liabilities 2024: $3,466,577Net Assets 2024: $20,120,7392024

Highlighted filing

2022

Assets$25,252,992
Liabilities$4,677,832
Net Assets$20,575,160

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2010: $2,940,868Expenses 2010: $3,203,612Net Income 2010: -$262,7442010Revenue 2011: $2,708,018Expenses 2011: $3,408,249Net Income 2011: -$700,2312011Revenue 2012: $2,913,773Expenses 2012: $3,238,923Net Income 2012: -$325,1502012Revenue 2013: $3,100,010Expenses 2013: $3,240,828Net Income 2013: -$140,8182013Revenue 2014: $3,042,708Expenses 2014: $3,357,241Net Income 2014: -$314,5332014Revenue 2015: $3,294,684Expenses 2015: $3,442,733Net Income 2015: -$148,0492015Revenue 2016: $3,369,287Expenses 2016: $3,567,310Net Income 2016: -$198,0232016Revenue 2017: $3,525,150Expenses 2017: $3,740,690Net Income 2017: -$215,5402017Revenue 2018: $7,674,150Expenses 2018: $3,893,901Net Income 2018: $3,780,2492018Revenue 2019: $7,436,994Expenses 2019: $4,387,871Net Income 2019: $3,049,1232019Revenue 2020: $5,019,548Expenses 2020: $3,555,864Net Income 2020: $1,463,6842020Revenue 2021: $5,712,908Expenses 2021: $3,477,227Net Income 2021: $2,235,6812021Revenue 2022: $6,266,199Expenses 2022: $4,441,400Net Income 2022: $1,824,7992022Revenue 2023: $5,289,033Expenses 2023: $5,887,534Net Income 2023: -$598,5012023Revenue 2024: $5,393,387Expenses 2024: $6,441,999Net Income 2024: -$1,048,6122024

Highlighted filing

2022

Revenue$6,266,199
Expenses$4,441,400
Net Income$1,824,799
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$6,424,543
Mission and Program Overview

Mission

The creative discovery museums mission is to inspire all children to explore, innovate, create and play.

The creative discovery museums mission is to inspire all children to explore, innovate, create and play

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,201,694$15,541,231▲ $7,339,537
Investments Other Securities$5,929,495$4,596,064▼ $1,333,431
Pledges and Grants Receivable$3,306,945$2,939,118▼ $367,827
Savings and Temporary Cash Investments-$808,915-
Investments in Publicly Traded Securities$979,447$627,237▼ $352,210
Cash and Non-Interest-Bearing Accounts$2,483,169$419,185▼ $2,063,984
Accounts Receivable$186,833$184,568▼ $2,265
Prepaid Expenses and Deferred Charges$99,601$136,674▲ $37,073
Total Assets$21,187,184$25,252,992▲ $4,065,808
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,000,000-
Unsecured Notes Loans Payable-$1,345,943-
Accounts Payable and Accrued Expenses$803,959$1,008,768▲ $204,809
Deferred Revenue$227,469$323,121▲ $95,652
Total Liabilities$1,031,428$4,677,832▲ $3,646,404
Net Assets / Fund Balance
Net Assets With Donor Restrictions$13,321,332$13,560,079▲ $238,747
Net Assets Without Donor Restrictions$6,834,424$7,015,081▲ $180,657
Total Net Assets Fund Balance$20,155,756$20,575,160▲ $419,404
Total Liabilities and Net Assets / Fund Balance$21,187,184$25,252,992▲ $4,065,808

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,060,167$8,904,777$17,964,944
Equipment$2,010,873$5,117,078$7,127,951
Other Land Buildings$4,352,755-$4,352,755
Land$117,436-$117,436
Leasehold Improvements-$2,030$2,030
Other Securities$4,596,064--
Closely Held Equity Interests$4,596,064--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$6,936,521$4,831▼ $1,387,737$325,097$5,228,518
2021$6,678,073-▲ $533,363$274,915$6,936,521
2020$5,660,495$2,500▲ $1,186,110$171,032$6,678,073
2019$4,870,503-▲ $789,992-$5,660,495
2018$1,031,373$4,000,000▼ $160,870-$4,870,503
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Henry SchulsonFormer CEOFT$152,880$12,291$165,171

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
The Counts CompanyConstruction Services102 CEDAR LANE, Chattanooga, TN 37421$4,248,727
Heartland Scenic StudioExhibit Design Services5329 LINDBERGH DRIVE, Omaha, NE 68110$654,298
Weber Group Ii LLCDesign Services5233 PROGRESS WAY, Sellersburg, IN 47172$485,754
Worlds Of WowDesign Services1800 SHADY OAKS DRIVE, Denton, TX 76205$365,363
Blue Cross Blue Shield Of TnGroup Health Insurance1 CAMERON HILL CIRCLE, Chattanooga, TN 37402$278,495
Revenue and Support

Revenue Composition

Contributions and Grants
$4,091,456
Program Service Revenue
$2,052,540
Investment Income
$25,390
Other Revenue
$96,813
All Other Contributions
$1,568,762
Change in Net Assets
$1,824,799

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 Table2$60,100Fair Market Value (FMV)
Other Non Cash Contri Table3$42,300Fair Market Value (FMV)
Other Non Cash Contri Table16$33,500Fair Market Value (FMV)
Other Non Cash Contri Table7$15,100Fair Market Value (FMV)
Other Non Cash Contri Table3$3,525Fair Market Value (FMV)
Other Non Cash Contri Table3$930Fair Market Value (FMV)
Total Noncash Contributions34$155,455-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,986,778
Revenue Not Reported on Financial Statements
$279,421
Revenue Not Reported on Form 990
$-1,251,684
Other Revenue Adjustments
$279,421
Total Revenue per Audited Statements
$4,735,094
Total Revenue per Form 990
$6,266,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,320,646
Other Expenses$2,120,754
Total Fundraising Expense$552,881
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,461,343$159,952$129,687$1,750,982
Depreciation Depletion$563,695$88,240-$651,935
Other Expenses$50,043$5,040$279,421$279,421
Occupancy$163,394$95,794-$259,188
Other Employee Benefits$43,077$204,499$3,509$251,085
Fees for Services Other$128,407$33,412$36,510$198,329
Current Officers, Directors, Trustees, and Key Employees$33,034$66,068$66,069$165,171
Office Expenses$116,170$28,041$13,260$157,471
Payroll Taxes$105,067$23,162$9,803$138,032
Fees for Services Management-$122,400-$122,400
All Other Expenses$15,151$72,933$9,455$97,539
Advertising$55,898$3,542-$59,440
Conferences and Meetings$11,778$34,128$3,395$49,301
Insurance$31,858--$31,858
Information Technology-$22,140-$22,140
Interest$16,270--$16,270
Pension Plan Contributions$11,894$3,482-$15,376
Fees for Services Accounting-$14,004-$14,004
Travel$11,879--$11,879
Fees for Services Legal-$1,865-$1,865
Total Functional Expenses$2,909,817$978,702$552,881$4,441,400

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,441,400
Total Expenses per Audited Statements$4,315,689
Expenses per Audited Statements$4,161,979
Expenses Not Reported on Financial Statements$279,421
Other Expense Adjustments$279,421
Expenses Not Reported on Form 990$153,710
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$243,983
Fundraising Direct Expenses$150,808
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Amuseum$198,520$191,200$52,431$138,769
Drink Discover$52,783$52,783$968$51,815
Total Events$251,303$243,983$150,808$93,175
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

The museums accounting, it and hr services are provided by the tennessee aquarium

Form 990, Part VI, Section B, Line 11

The form 990 is distributed to the board electronically before it is filed.

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

The museums executive committee determines compensation for the executive director by gathering comparative data from multiple sources. Salaries of other management staff are governed by a salary management program and a compensation survey performed by a third party

Form 990, Part VI, Section B, Line 19

The museum makes governing documents including its conflict of interest policy and whistleblower policy available to the public upon request. The museums financial statements are made available on its website, on third party websites and upon request.

Filing and Contact Details

Filer

Filer Name
Creative Discovery Museum
EIN
62-1509462
Phone
4237562738
Address
321 CHESTNUT STREET PO Box 6339, CHATTANOOGA, TN 37402

Signing Officer

Name
Gordon a Stalans
Title
CFO
Phone
4237852054
Signed
2023-11-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Tim Sears
Formed
1992
Legal Domicile
Tn
Voting Board Members
19
Independent Board Members
19
Employees
104
Volunteers
60

Preparer

Preparer
Gordon a Stalans
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Section 2, Line C

The oversight process did not change

Financial Statement Notes

XI 2D

Fundraising event expenses-150,778 rental expenses-2,932

XI 4B

BAD DEBT EXPENSE

XII 2D

Fundraising event expenses-150,778 rental expenses-2,932

XII 4B

BAD DEBT EXPENSE

X 2

The museum qualifies as a tax-exempt organization under internal revenue code section 501c3 and, accordingly, is exempt from federal and state income taxes. The museum believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statments. The museums fedetal exempt income tax returns are subject to examination by the internal revenue service, generally for three years after they are filed.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0FORMER CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHAIR SECRETARY
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IRS990/FormationYr01992
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
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IRS990/FundraisingDirectExpensesAmt0150808
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IRS990/MissionDesc0THE CREATIVE DISCOVERY MUSEUMS MISSION IS TO INSPIRE ALL CHILDREN TO EXPLORE, INNOVATE, CREATE AND PLAY
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.6$3.47$20.1$5.39$6.44$1.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.1$4.49$20.6$5.29$5.89$0.60
2022Detailed filing. Detailed filing data is available for this year.$25.3$4.68$20.6$6.27$4.44$1.82
2021Detailed filing. Detailed filing data is available for this year.$21.2$1.03$20.2$5.71$3.48$2.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.5$1.07$17.4$5.02$3.56$1.46
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.9$1.21$14.7$7.44$4.39$3.05
2018Summary only. Only limited summary data is available for this year.$11.8$0.91$10.9$7.67$3.89$3.78
2017Summary only. Only limited summary data is available for this year.$7.90$0.57$7.34$3.53$3.74$0.22
2016Detailed filing. Detailed filing data is available for this year.$8.07$0.55$7.52$3.37$3.57$0.20
2015Detailed filing. Detailed filing data is available for this year.$8.24$0.54$7.70$3.29$3.44$0.15
2014Detailed filing. Detailed filing data is available for this year.$8.50$0.59$7.92$3.04$3.36$0.31
2013Detailed filing. Detailed filing data is available for this year.$8.88$0.67$8.22$3.10$3.24$0.14
2012Summary only. Only limited summary data is available for this year.$8.87$0.46$8.41$2.91$3.24$0.33
2011Summary only. Only limited summary data is available for this year.$9.19$0.47$8.71$2.71$3.41$0.70
2010Summary only. Only limited summary data is available for this year.$9.85$0.44$9.42$2.94$3.20$0.26