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Ipswich Museum INC FY2022 filing

Tax-deductible

Ipswich, MA501(c)(3)Since 1898Arts & Culture EIN 04-6040661Revenue $227K in FY2022

On file with the IRSipswichmuseum.org54 S Main St, 01938-2322 · Ipswich, MATax-exempt since Dec 1945Publicly supported — 509(a)(2)

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Educate the public regarding the history of Ipswich, massachusetts

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $79K a year · 27% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Plus $1.2M in investments, Pt X · Ln 11–13
Looks good: 18.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $8K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$227K
-5% vs prior year
Spent
$205K
To programs
77%
Net assets
$1.6M
By yearFY2020–FY2025
Revenue
$227K
FY2022▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$622K
FY2021$240K
FY2022$227K
FY2023$182K
FY2024$222K
FY2025$243K
Expenses
$205K
FY2022▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$170K
FY2021$212K
FY2022$205K
FY2023$210K
FY2024$224K
FY2025$242K
Net assets
$1.6M
FY2022▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$1.6M
FY2023$1.8M
FY2024$2.0M
FY2025$2.2M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1945.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $158K Management & general 23% · $46K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Marcia Gray
Secretary/Trustee
$0Pt VII · Sec A
Stephanie Gaskins
President/Trustee
$0Pt VII · Sec A
Boyd Finch
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Lawrence Pszenny
Treasurer/Trustee
$0Pt VII · Sec A
Cary Perry
1st VP/Trustee
$0Pt VII · Sec A
William Callahan
2nd VP/Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ipswich Museum INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates the public about Ipswich, Massachusetts history.

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Provided by the organization

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3 programs · $158K · in their own filed words · FY2022
01

Operation of two museum buildings, the waters memorial and whipple house, historic buildings with antique furnishings to educate the public regarding history and the need for preservation of historic artifacts.

$154Kprogram expense
02

Book and commemorative item sales documenting the history of ipswich, ma

$2Kprogram expense
03

Operation of the dow arts education program.

$2Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$8K
Christiansbrunn Die Families Der ErdeFY2024$50
Total grants receivedfrom 2 funders$8K

By the numbers

The FY2022 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$227K
Ln 12
Gifts and grantsLn 1h$152K
Investment incomeLn 3$55K
Fees for servicesLn 2g$18K
Money outPt IX
$205K
Ln 25
Programscol B$158K
Managementcol C$46K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$316K
Total assetsLn 16$1.6M
LiabilitiesLn 26$3K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$152K
Noncash giftsLn 1g$12K
Fundraising eventsLn 1c$9K
Fees for servicesLn 2g$18K
Investment incomeLn 3$55K
Other incomeLn 4–11$3K
Gains on assetsLn 7$37K
Total revenueLn 12$227K
Assets in detailPt X, end of year
CashLn 1$300
SavingsLn 2$316K
Cash and savings togetherLn 1–2$316K
InvestmentsLn 11–13$1.2M
Land, buildings, equipmentLn 10c$120K
Other assetsLn 15$0
Total assetsLn 16$1.6M
LiabilitiesLn 26$3K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 58
VolunteersI 645
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$124K$316K
InvestmentsLn 11–13$1.7M$1.2M
Land, buildings, equipmentLn 10c$120K$120K
Total assetsLn 16$2.0M$1.6M
LiabilitiesLn 26$2K$3K
Net assetsLn 32$2.0M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$86K$71K$15K
Payroll taxesLn 10$8K$6K$2K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$132$132
Office expensesLn 13$20K$8K$12K
OccupancyLn 16$58K$57K$899
Conferences, conventions and meetingsLn 19$3K$3K
InsuranceLn 23$13K$2K$11K
Other expenses (24a–d)Ln 24$11K$10K$1K
Total functional expensesLn 25$205K$158K$46K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $243K$242K$943$2.2M 990 PDF
FY2024 $222K$224K−$2K$2.0M 990 PDF
FY2023 $182K$210K−$28K$1.8M 990 PDF
FY2022 Viewing $227K$205K$22K$1.6M 990 PDF
FY2021 $240K$212K$27K$2.0M 990 PDF
FY2020 $622K$170K$452K$1.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $227,033 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $162,597$151,877
I-9 Program service revenuePrior year $18,945$17,558
I-10 Investment incomePrior year $45,040$54,684
I-11 Other revenuePrior year $13,200$2,914
I-12 Total revenuePrior year $239,782$227,033
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $87,216$93,729
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $125,257$110,849
I-18 Total expensesPrior year $212,473$204,578
I-19 Revenue less expensesPrior year $27,309$22,455
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $227,033 across 10 lines filed
VIII-1b Membership dues$27,077
VIII-1c Fundraising events$8,962
VIII-1f All other contributions, gifts and grants$124,800
VIII-1g Noncash contributions (included above)$12,419
VIII-1h Total contributions, gifts and grants$151,877
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,558$17,558
VIII-3 Investment incomeExcluded from tax $17,758$17,758
VIII-7 Net gain or loss on sales of assetsExcluded from tax $36,926$36,926
VIII-8 Net income from fundraising eventsExcluded from tax $2,914$2,914
VIII-12 Total revenueRelated to mission $17,558 · Unrelated business $0 · Excluded from tax $57,598$227,033
Part IX · Statement of functional expenses $204,578 across 9 lines filed
IX-7 Other salaries and wagesPrograms $71,333 · Management $14,688$86,021
IX-10 Payroll taxesPrograms $6,203 · Management $1,505$7,708
IX-11c Accounting feesManagement $5,453$5,453
IX-11f Investment management feesManagement $132$132
IX-13 Office expensesPrograms $8,449 · Management $11,576$20,025
IX-16 OccupancyPrograms $56,807 · Management $899$57,706
IX-19 Conferences, conventions and meetingsPrograms $3,269$3,269
IX-23 InsurancePrograms $2,190 · Management $10,580$12,770
IX-24 Other expenses (24a–d)Programs $10,232 · Management $1,262$11,494
IX-25 Total functional expensesPrograms $158,483 · Management $46,095 · Fundraising $0$204,578
Part X · Balance sheet $1,643,143 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $300$300
X-2 Savings and temporary cash investmentsStart of year $123,550$316,094
X-10c Land, buildings and equipment, netStart of year $119,535$119,535
X-11 Publicly traded securitiesStart of year $1,737,306$1,207,214
X-15 Other assetsStart of year $9,246$0
X-16 Total assetsStart of year $1,989,937$1,643,143
X-25 Other liabilitiesStart of year $2,489$2,817
X-26 Total liabilitiesStart of year $2,489$2,817
X-27 Net assets without donor restrictionsStart of year $1,812,002$1,479,836
X-28 Net assets with donor restrictionsStart of year $175,446$160,490
X-32 Total net assets or fund balancesStart of year $1,987,448$1,640,326
X-33 Total liabilities and net assetsStart of year $1,989,937$1,643,143
Part XI · Reconciliation of net assets $1,640,326 net assets at year end
XI-1 Total revenue$227,033
XI-2 Total expenses$204,578
XI-3 Revenue less expenses$22,455
XI-4 Net assets at start of year$1,987,448
XI-5 Net unrealized gains (losses) on investments−$372,677
XI-9 Other changes in net assets$3,100
XI-10 Net assets at end of year$1,640,326

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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