Grace Museum INC FY2024 filing

Tax-deductible

Abilene, TX501(c)(3)Arts & CultureEIN 75-6026849Revenue $1.4M in FY2024

On file with the IRSthegracemuseum.org102 Cypress St, 79601-5817 · Abilene, TXTax-exempt since Sep 1963Publicly supported — 509(a)(2)

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The primary directive is to provide art, historic, and scientific exhibits, collections, and education to enrich the appreciation of the arts, sciences, and humanities.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$166K 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

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
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 $50K a year · 3% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$166K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
12
named funders · $1.3M
Looks good: 12 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$85K
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
+5% vs prior year
Spent
$1.8M
To programs
86%
Net assets
$8.9M
By yearFY2020–FY2025
Revenue
$1.4M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$1.8M
FY2022$1.8M
FY2023$1.3M
FY2024$1.4M
FY2025$2.3M
Expenses
$1.8M
FY2024+0.4%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.4M
FY2022$1.5M
FY2023$1.8M
FY2024$1.8M
FY2025$2.0M
Net assets
$8.9M
FY2024▼ -0.5%
Tap a bar for its year
Net assets by fiscal year
FY2020$8.5M
FY2021$10.0M
FY2022$9.2M
FY2023$9.0M
FY2024$8.9M
FY2025$9.5M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Sep 1963.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $1.6M Management & general 8% · $148K Fundraising 6% · $107K

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

25 people listed on the 990; $166K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$101,661Pt VII · Sec A
Finance Director
$64,806Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Laura Moore’s $113K as Executive Director is at the 43rd 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 · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Laura Moore$113,269$101,661$96,457$92,903$95,148$89,380
Vicki Butts$67,767$64,806$62,985$55,537$54,926$54,059

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 15aNo

Programs and updates

Offers art, historic, and scientific exhibits and education to enrich appreciation.

Provided by the organization

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1 program · $1.6M · in their own filed words · FY2023
01

Held various exhibits, collections, and educational programs.

$1.6Mprogram 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
See all 12 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$126K
Fees for servicesLn 2g$73K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.6M
Managementcol C$148K
Fundraisingcol D$107K
Owns and owesPt X
$8.9M
net assets · Ln 32
Cash and savingsLn 1–2$813K
Total assetsLn 16$9.0M
LiabilitiesLn 26$85K
PeoplePt VI, VII
25
listed · VII A
PaidVII A2
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Fundraising eventsLn 1c$134K
Fees for servicesLn 2g$73K
Investment incomeLn 3$126K
Gains on assetsLn 7−$160K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$121K
SavingsLn 2$692K
Cash and savings togetherLn 1–2$813K
InvestmentsLn 11–13$4.4M
Land, buildings, equipmentLn 10c$2.3M
Other assetsLn 15$1.4M
Total assetsLn 16$9.0M
LiabilitiesLn 26$85K
Net assetsLn 32$8.9M
OperationsPt I, VI
EmployeesI 529
VolunteersI 6120
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$1.0M$813K
InvestmentsLn 11–13$3.9M$4.4M
Land, buildings, equipmentLn 10c$2.8M$2.3M
Total assetsLn 16$9.0M$9.0M
LiabilitiesLn 26$80K$85K
Net assetsLn 32$9.0M$8.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$192K$100K$54K$38K
Other salaries and wagesLn 7$578K$546K$19K$14K
Other employee benefitsLn 9$79K$73K$4K$2K
Payroll taxesLn 10$56K$49K$5K$3K
Accounting feesLn 11c$35K$17K$9K$9K
Investment management feesLn 11f$31K$31K
Other fees for servicesLn 11g$2K$2K
Office expensesLn 13$13K$11K$1K$746
OccupancyLn 16$55K$52K$1K$2K
Depreciation, depletion and amortizationLn 22$347K$325K$7K$15K
InsuranceLn 23$24K$23K$518$1K
Other expenses (24a–d)Ln 24$279K$273K$2K$5K
All other expensesLn 24e$132K$101K$14K$17K
Total functional expensesLn 25$1.8M$1.6M$148K$107K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.3M$2.0M$320K$9.5M 990 PDF
FY2024 Viewing $1.4M$1.8M−$463K$8.9M 990 PDF
FY2023 $1.3M$1.8M−$526K$9.0M 990 PDF
FY2022 $1.8M$1.5M$265K$9.2M 990 PDF
FY2021 $1.8M$1.4M$345K$10.0M 990 PDF
FY2020 $1.9M$1.6M$357K$8.5M 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 $1,362,081 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,271,603$1,536,517
I-9 Program service revenuePrior year $73,321$72,992
I-10 Investment incomePrior year $119,783−$33,177
I-11 Other revenuePrior year −$173,234−$214,251
I-12 Total revenuePrior year $1,291,473$1,362,081
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 $772,564$906,189
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,044,927$919,257
I-18 Total expensesPrior year $1,817,491$1,825,446
I-19 Revenue less expensesPrior year −$526,018−$463,365
Part VI · Governance 23 of 23 board members independent, 1 to look at
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $1,362,081 across 10 lines filed
VIII-1b Membership dues$164,584
VIII-1c Fundraising events$133,774
VIII-1f All other contributions, gifts and grants$1,238,159
VIII-1h Total contributions, gifts and grants$1,536,517
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $72,992$72,992
VIII-3 Investment incomeExcluded from tax $126,396$126,396
VIII-6 Net rental income or lossExcluded from tax −$150,606−$150,606
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$159,573−$159,573
VIII-8 Net income from fundraising eventsExcluded from tax −$63,645−$63,645
VIII-12 Total revenueRelated to mission $72,992 · Unrelated business $0 · Excluded from tax −$247,428$1,362,081
Part IX · Statement of functional expenses $1,825,446 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $100,110 · Management $53,960 · Fundraising $38,157$192,227
IX-7 Other salaries and wagesPrograms $545,853 · Management $19,077 · Fundraising $13,553$578,483
IX-9 Other employee benefitsPrograms $73,045 · Management $3,791 · Fundraising $2,160$78,996
IX-10 Payroll taxesPrograms $48,514 · Management $4,728 · Fundraising $3,241$56,483
IX-11c Accounting feesPrograms $16,608 · Management $9,230 · Fundraising $9,230$35,068
IX-11f Investment management feesManagement $30,588$30,588
IX-11g Other fees for servicesPrograms $1,852$1,852
IX-13 Office expensesPrograms $11,154 · Management $1,087 · Fundraising $746$12,987
IX-16 OccupancyPrograms $51,808 · Management $1,177 · Fundraising $2,355$55,340
IX-22 Depreciation, depletion and amortizationPrograms $325,263 · Management $7,392 · Fundraising $14,786$347,441
IX-23 InsurancePrograms $22,812 · Management $518 · Fundraising $1,037$24,367
IX-24 Other expenses (24a–d)Programs $272,516 · Management $2,326 · Fundraising $4,651$279,493
IX-24e All other expensesPrograms $100,907 · Management $14,450 · Fundraising $16,764$132,121
IX-25 Total functional expensesPrograms $1,570,442 · Management $148,324 · Fundraising $106,680$1,825,446
Part X · Balance sheet $8,995,279 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $91,822$121,244
X-2 Savings and temporary cash investmentsStart of year $914,004$691,779
X-10c Land, buildings and equipment, netStart of year $2,788,164$2,319,661
X-11 Publicly traded securitiesStart of year $3,896,692$4,442,420
X-15 Other assetsStart of year $1,344,520$1,420,175
X-16 Total assetsStart of year $9,035,202$8,995,279
X-17 Accounts payable and accrued expensesStart of year $79,515$85,251
X-26 Total liabilitiesStart of year $79,515$85,251
X-27 Net assets without donor restrictionsStart of year $6,194,704$6,046,830
X-28 Net assets with donor restrictionsStart of year $2,760,983$2,863,198
X-32 Total net assets or fund balancesStart of year $8,955,687$8,910,028
X-33 Total liabilities and net assetsStart of year $9,035,202$8,995,279
Part XI · Reconciliation of net assets $8,910,028 net assets at year end
XI-1 Total revenue$1,362,081
XI-2 Total expenses$1,825,446
XI-3 Revenue less expenses−$463,365
XI-4 Net assets at start of year$8,955,687
XI-5 Net unrealized gains (losses) on investments$417,706
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,910,028

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

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