Brucemore INC FY2022 filing

Tax-deductible

Cedar Rapids, IA501(c)(3)Arts & CultureEIN 42-1170531Revenue $1.9M in FY2022

On file with the IRSbrucemore.org2160 Linden Dr Se, 52403-1736 · Cedar Rapids, IATax-exempt since Jan 1982Publicly supported charity — 170(b)(1)(A)(vi)

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To be a premier national trust site through excellence in stewardship, education, preservation and programming for the benefit of the community.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$190K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

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 $1.0M 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
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$190K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 14.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $250
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$587K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
+1% vs prior year
Spent
$3.1M
To programs
83%
Net assets
$17.4M
By yearFY2020–FY2025
Revenue
$1.9M
FY2022▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.5M
FY2021$1.9M
FY2022$1.9M
FY2023$3.6M
FY2024$4.3M
FY2025$3.6M
Expenses
$3.1M
FY2022▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$3.0M
FY2022$3.1M
FY2023$2.7M
FY2024$3.3M
FY2025$2.1M
Net assets
$17.4M
FY2022▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020$16.1M
FY2021$18.5M
FY2022$17.4M
FY2023$17.5M
FY2024$19.4M
FY2025$20.6M

From the FY2022 Form 990 (year ending March 2022) · figures checked against the IRS filing · 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 Jan 1982.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $2.5M Management & general 13% · $409K Fundraising 4% · $116K

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

18 people listed on the 990; $190K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$124,868Pt VII · Sec A
Business Manager
$65,501Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Janssen David’s $129K as Chief Executive Officer is at the 54th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Janssen David$128,961$124,795$126,059$124,868——
David Janssen————$121,526$125,732
Costello Kelly———$65,501——
Kelly Costello————$63,142$63,433
Costello Kelly Left 53122——$39,884———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Preserves and educates about a national trust site for community benefit.

Provided by the organization

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1 program · $2.5M · in their own filed words · FY2021
01

Brucemore serves the community in three fundamental ways to meet its mission to inspire community interaction with history, preservation, and the arts. First, the organization has an on-going responsibility to preserve the irreplaceable historic resources in its care as a tangible connection to the past.

$2.5Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$250

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Gifts and grantsLn 1h$1.1M
Other incomeLn 4–11$571K
Investment incomeLn 3$196K
Money outPt IX
$3.1M
Ln 25
Programscol B$2.5M
Managementcol C$409K
Fundraisingcol D$116K
Owns and owesPt X
$17.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.8M
Total assetsLn 16$18.0M
LiabilitiesLn 26$587K
PeoplePt VI, VII
18
listed · VII A
PaidVII A2
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$414K
Fundraising eventsLn 1c$36K
Fees for servicesLn 2g$47K
Investment incomeLn 3$196K
Other incomeLn 4–11$571K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$924
SavingsLn 2$3.8M
Cash and savings togetherLn 1–2$3.8M
InvestmentsLn 11–13$10.7M
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$26K
Total assetsLn 16$18.0M
LiabilitiesLn 26$587K
Net assetsLn 32$17.4M
OperationsPt I, VI
EmployeesI 524
VolunteersI 6133
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$3.3M$3.8M
InvestmentsLn 11–13$10.9M$10.7M
Land, buildings, equipmentLn 10c$1.6M$1.5M
Total assetsLn 16$18.9M$18.0M
LiabilitiesLn 26$391K$587K
Net assetsLn 32$18.5M$17.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$205K$33K$108K$65K
Other salaries and wagesLn 7$398K$359K$23K$17K
Pension plan contributionsLn 8$3K$3K$206
Other employee benefitsLn 9$44K$37K$2K$6K
Payroll taxesLn 10$45K$30K$9K$6K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$14K$14K
Investment management feesLn 11f$48K$48K
Other fees for servicesLn 11g$133K$107K$26K
Advertising and promotionLn 12$43K$43K
Office expensesLn 13$18K$18K
Information technologyLn 14$71K$7K$61K$3K
OccupancyLn 16$98K$67K$31K
TravelLn 17$5K$5K$2
Depreciation, depletion and amortizationLn 22$123K$123K
InsuranceLn 23$68K$52K$14K$2K
Other expenses (24a–d)Ln 24$1.7M$1.7M
All other expensesLn 24e$36K$8K$11K$17K
Total functional expensesLn 25$3.1M$2.5M$409K$116K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.6M$2.1M$1.5M$20.6M 990 PDF
FY2024 $4.3M$3.3M$1.0M$19.4M 990 PDF
FY2023 $3.6M$2.7M$918K$17.5M 990 PDF
FY2022 Viewing $1.9M$3.1M−$1.2M$17.4M 990 PDF
FY2021 $1.9M$3.0M−$1.1M$18.5M 990 PDF
FY2020 $7.5M$2.5M$5.0M$16.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $1,902,736 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,420,661$1,089,454
I-9 Program service revenuePrior year $10,063$46,760
I-10 Investment incomePrior year $133,136$195,888
I-11 Other revenuePrior year $316,859$570,634
I-12 Total revenuePrior year $1,880,719$1,902,736
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 $731,424$696,200
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,242,560$2,372,203
I-18 Total expensesPrior year $2,973,984$3,068,403
I-19 Revenue less expensesPrior year −$1,093,265−$1,165,667
Part VI · Governance 16 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,902,736 across 12 lines filed
Lines not itemized here account for −$8 of total revenue; see the IRS return.
VIII-1b Membership dues$122,748
VIII-1c Fundraising events$36,500
VIII-1d Related organizations$256,178
VIII-1e Government grants$413,936
VIII-1f All other contributions, gifts and grants$260,092
VIII-1h Total contributions, gifts and grants$1,089,454
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $46,760$46,760
VIII-3 Investment incomeExcluded from tax $195,888$195,888
VIII-6 Net rental income or lossExcluded from tax $28,999$28,999
VIII-8 Net income from fundraising eventsExcluded from tax $48,848$48,848
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $492,795$492,795
VIII-12 Total revenueRelated to mission $46,752 · Unrelated business $0 · Excluded from tax $766,530$1,902,736
Part IX · Statement of functional expenses $3,068,403 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $32,541 · Management $107,746 · Fundraising $65,086$205,373
IX-7 Other salaries and wagesPrograms $358,752 · Management $22,757 · Fundraising $16,857$398,366
IX-8 Pension plan contributionsPrograms $2,789 · Fundraising $206$2,995
IX-9 Other employee benefitsPrograms $36,522 · Management $1,655 · Fundraising $5,898$44,075
IX-10 Payroll taxesPrograms $29,958 · Management $9,078 · Fundraising $6,355$45,391
IX-11b Legal feesManagement $2,657$2,657
IX-11c Accounting feesManagement $13,650$13,650
IX-11f Investment management feesManagement $47,570$47,570
IX-11g Other fees for servicesPrograms $106,586 · Management $26,207$132,793
IX-12 Advertising and promotionManagement $42,712$42,712
IX-13 Office expensesManagement $17,805$17,805
IX-14 Information technologyPrograms $7,367 · Management $60,798 · Fundraising $2,865$71,030
IX-16 OccupancyPrograms $67,345 · Management $30,785$98,130
IX-17 TravelPrograms $5,043 · Management $2$5,045
IX-22 Depreciation, depletion and amortizationPrograms $123,368$123,368
IX-23 InsurancePrograms $51,883 · Management $14,147 · Fundraising $2,134$68,164
IX-24 Other expenses (24a–d)Programs $1,713,410$1,713,410
IX-24e All other expensesPrograms $8,063 · Management $10,948 · Fundraising $16,858$35,869
IX-25 Total functional expensesPrograms $2,543,627 · Management $408,517 · Fundraising $116,259$3,068,403
Part X · Balance sheet $18,035,244 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $835$924
X-2 Savings and temporary cash investmentsStart of year $3,347,552$3,801,498
X-3 Pledges and grants receivableStart of year $3,008,292$2,015,000
X-4 Accounts receivableStart of year −$363$9,101
X-8 Inventories for sale or useStart of year $19,569$18,866
X-10c Land, buildings and equipment, netStart of year $1,586,753$1,494,443
X-12 Other securitiesStart of year $10,926,808$10,669,331
X-15 Other assetsStart of year $24,680$26,081
X-16 Total assetsStart of year $18,914,126$18,035,244
X-17 Accounts payable and accrued expensesStart of year $183,114$122,660
X-19 Deferred revenueStart of year $45,505$445,192
X-25 Other liabilitiesStart of year $25,645$19,141
X-26 Total liabilitiesStart of year $390,564$586,993
X-27 Net assets without donor restrictionsStart of year $1,575,922$2,018,427
X-28 Net assets with donor restrictionsStart of year $16,947,640$15,429,824
X-32 Total net assets or fund balancesStart of year $18,523,562$17,448,251
X-33 Total liabilities and net assetsStart of year $18,914,126$18,035,244
Part XI · Reconciliation of net assets $17,448,251 net assets at year end
XI-1 Total revenue$1,902,736
XI-2 Total expenses$3,068,403
XI-3 Revenue less expenses−$1,165,667
XI-4 Net assets at start of year$18,523,562
XI-5 Net unrealized gains (losses) on investments$88,955
XI-9 Other changes in net assets$1,401
XI-10 Net assets at end of year$17,448,251

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

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