Potato Museum INC

Tax-deductible

Blackfoot, ID501(c)(3)Arts & CultureEIN 72-1537297Revenue $732K in FY2024

On file with the IRSidahopotatomuseum.comPo Box 801, 83221-0801 · Blackfoot, IDTax-exempt since Jul 2003Publicly supported — 509(a)(2)

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To provide an interactive educational experience to children and adults about the history, growth, and importance of the Potato industry in idaho and the world at large.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $59K a year · 11% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$732K
<0.01% vs prior year
Spent
$663K
To programs
96%
Net assets
$586K
By yearFY2020–FY2024
Revenue
$732K
FY2024<0.01%
Tap a bar for its year
Revenue by fiscal year
FY2020$146K
FY2021$542K
FY2022$567K
FY2023$732K
FY2024$732K
Expenses
$663K
FY2024▲ +0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$161K
FY2021$431K
FY2022$513K
FY2023$658K
FY2024$663K
Net assets
$586K
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$278K
FY2021$389K
FY2022$442K
FY2023$517K
FY2024$586K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2003.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $634K Management & general 4% · $29K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Potato 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 children and adults about the potato industry's history and global importance.

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Provided by the organization

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1 program · $208K · in their own filed words · FY2024
01

Provided education on the potato industry along with informational material to nearly 40,000 vistors from across the united sates and more than 33 foreign countries in an effort to promote and inform the public about potatoes, the state of idaho's most famous agricultural product.

$208Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$732K
Ln 12
Fees for servicesLn 2g$687K
Gifts and grantsLn 1h$44K
Investment incomeLn 3$1K
Money outPt IX
$663K
Ln 25
Programscol B$634K
Managementcol C$29K
Owns and owesPt X
$586K
net assets · Ln 32
Cash and savingsLn 1–2$314K
Total assetsLn 16$593K
LiabilitiesLn 26$7K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$44K
Fees for servicesLn 2g$687K
Investment incomeLn 3$1K
Total revenueLn 12$732K
Assets in detailPt X, end of year
CashLn 1$314K
Cash and savings togetherLn 1–2$314K
Land, buildings, equipmentLn 10c$162K
Total assetsLn 16$593K
LiabilitiesLn 26$7K
Net assetsLn 32$586K
OperationsPt I, VI
EmployeesI 521
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$256K$314K
Land, buildings, equipmentLn 10c$172K$162K
Total assetsLn 16$521K$593K
LiabilitiesLn 26$4K$7K
Net assetsLn 32$517K$586K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$89K$71K$18K
Other employee benefitsLn 9$7K$5K$1K
Payroll taxesLn 10$21K$17K$4K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$21K$21K
Office expensesLn 13$8K$8K
OccupancyLn 16$12K$12K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$840$840
Depreciation, depletion and amortizationLn 22$32K$32K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$465K$465K
All other expensesLn 24e$1K$147$1K
Total functional expensesLn 25$663K$634K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $732K$663K$69K$586K 990 PDF
FY2023 $732K$658K$75K$517K 990 PDF
FY2022 $567K$513K$53K$442K 990 PDF
FY2021 $542K$431K$110K$389K 990 PDF
FY2020 $146K$161K−$15K$278K 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 FY2024 990 (6 parts)
Part I · Summary $732,309 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $51,022$43,670
I-9 Program service revenuePrior year $681,159$687,263
I-10 Investment incomePrior year $104$1,376
I-11 Other revenue$0
I-12 Total revenuePrior year $732,285$732,309
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $99,719$116,236
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $557,957$546,754
I-18 Total expensesPrior year $657,676$662,990
I-19 Revenue less expensesPrior year $74,609$69,319
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
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-15a Process for setting top official's payYes
Part VIII · Statement of revenue $732,309 across 5 lines filed
VIII-1f All other contributions, gifts and grants$43,670
VIII-1h Total contributions, gifts and grants$43,670
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $687,263$687,263
VIII-3 Investment incomeRelated to mission $1,376$1,376
VIII-12 Total revenueRelated to mission $688,639$732,309
Part IX · Statement of functional expenses $662,990 across 13 lines filed
IX-7 Other salaries and wagesPrograms $70,966 · Management $17,741$88,707
IX-9 Other employee benefitsPrograms $5,489 · Management $1,372$6,861
IX-10 Payroll taxesPrograms $16,534 · Management $4,134$20,668
IX-11c Accounting feesManagement $3,625$3,625
IX-12 Advertising and promotionPrograms $20,871$20,871
IX-13 Office expensesPrograms $8,188$8,188
IX-16 OccupancyPrograms $11,676$11,676
IX-17 TravelPrograms $1,268$1,268
IX-19 Conferences, conventions and meetingsManagement $840$840
IX-22 Depreciation, depletion and amortizationPrograms $32,265$32,265
IX-23 InsurancePrograms $1,891$1,891
IX-24 Other expenses (24a–d)Programs $464,965$464,965
IX-24e All other expensesPrograms $147 · Management $1,018$1,165
IX-25 Total functional expensesPrograms $634,260 · Management $28,730 · Fundraising $0$662,990
Part X · Balance sheet $593,020 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $255,626$313,815
X-8 Inventories for sale or useStart of year $93,468$117,372
X-10c Land, buildings and equipment, netStart of year $172,051$161,833
X-16 Total assetsStart of year $521,145$593,020
X-17 Accounts payable and accrued expensesStart of year $4,279$6,835
X-26 Total liabilitiesStart of year $4,279$6,835
X-27 Net assets without donor restrictionsStart of year $516,866$586,185
X-32 Total net assets or fund balancesStart of year $516,866$586,185
X-33 Total liabilities and net assetsStart of year $521,145$593,020
Part XI · Reconciliation of net assets $586,185 net assets at year end
XI-1 Total revenue$732,309
XI-2 Total expenses$662,990
XI-3 Revenue less expenses$69,319
XI-4 Net assets at start of year$516,866
XI-10 Net assets at end of year$586,185

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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