2024-05-14T10:30:18-05:00 2023-12-31 221914888 NISIVOCCIA LLP 200 VALLEY RD SUITE 300 MT ARLINGTON NJ 07856 990 2023-01-01 237029776 MUSEUM OF EARLY TRADES AND CRAFTS INC MUSE 9733772982 9 MAIN STREET MADISON NJ 07940 DEBORAH FARRAR STARKER EXECUTIVE DIRECTOR 9733772982 2024-05-14 1 DEBORAH FARRAR STARKER 999009999 0 RYAN A HYNSON CPA P03062772 9733281825 2024-05-08 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z DEBORAH FARRAR STARKER 9 MAIN STREET MADISON NJ 07940 4152055 0 X WWW.METC.ORG X 1969 NJ THE PURPOSE OF THE MUSEUM IS TO PROVIDE EDUCATIONAL ACTIVITIES COVERING PRE-INDUSTRIAL CRAFTSMEN, THEIR TOOLS AND THEIR WORKS. 15 15 17 15 0 0 415249 639964 66533 76158 579411 -7210 685 7674 1061878 716586 0 0 0 0 353278 395919 0 0 75704 429864 449583 783142 845502 278736 -128916 11532437 12547078 246347 295065 11286090 12252013 X TO FOSTER THE UNDERSTANDING, CULTIVATION, AND APPRECIATION OF AMERICA'S PAST BY PRESENTING AND INTERPRETING THE HISTORY, CULTURE AND LIVES OF THE INHABITANTS OF NEW JERSEY FROM ITS EARLIEST SETTLEMENT TO THE PRESENT DAY. 0 0 558316 83832 THE PRIMARY ACTIVITY OF THE MUSEUM IS HISTORY EDUCATION. WE DEVELOP AND DELIVER CURRICULUM-BASED PROGRAMS TO STUDENTS THROUGHOUT THE STATE OF NEW JERSEY AND PROVIDE ADDITIONAL PROGRAMS, LECTURES, AND WORKSHOPS FOR A WIDE RANGE OF VISITORS. ALL EDUCATIONAL PROGRAMS ARE MISSION BASED, INTERACTIVE AND INTENDED TO PROVIDE FREE-CHOICE LEARNING. EACH YEAR WE CREATE AND INSTALL CHANGING EXHIBITS IN OUR MAIN GALLERY AND ANNEX, AND WE MAINTAIN TWO LEVELS OF PERMANENT EXHIBITS THAT REFLECT LIFE IN NEW JERSEY FROM THE EARLY 1700S THROUGH THE INDUSTRIAL ERA REPRESENTING THE DIVERSITY OF THE STATE OF NEW JERSEY. THE STAFF MANAGES A COLLECTION OF OVER 8,000 OBJECTS AND ARCHIVES THAT REPRESENT THE MATERIAL CULTURE OF THE PEOPLE OF NEW JERSEY AND WE ARE ACTIVELY INVOLVED IN THE HISTORIC PRESERVATION OF OUR MUSEUM BUILDING. ALL PROGRAMS AND EXHIBITS SUPPORT THE MISSION OF THE MUSEUM. 558316 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 17 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X DEBORAH FARRAR STARKER 9733772982 9 MAIN STREET MADISON NJ 07940 MARTIN BARBATO BOARD CHAIR 5.00 X X 0 0 0 IRENE MARONEY TREASURER 5.00 X X 0 0 0 VIRGINIA WILSON TRUSTEE 5.00 X 0 0 0 MICHAEL SCHLOFF BOARD DEVELOPMENT CHAIR 5.00 X X 0 0 0 ANDREW B BOLES FINANCE CHAIR 5.00 X X 0 0 0 RODGER K HERRIGEL ESQ TRUSTEE 2.00 X 0 0 0 CHRISTON S KELLOGG TRUSTEE 2.00 X 0 0 0 TYLER C MERSON SECRETARY 2.00 X X 0 0 0 PATRICK ROWE TRUSTEE 2.00 X 0 0 0 THOMAS JUDD TRUSTEE 2.00 X 0 0 0 PATRICIA MORGAN EDUCATION CHAIR 2.00 X X 0 0 0 JEFFREY GERTLER TRUSTEE 2.00 X 0 0 0 KAREN WONG POY TRUSTEE 2.00 X 0 0 0 VALERIE LIBRIZZI TRUSTEE 2.00 X 0 0 0 SILVINA TRABA TRUSTEE 2.00 X 0 0 0 DEBORAH FARRAR STARKER EXECUTIVE DIRECTOR 40.00 X 87219 0 0 87219 0 0 0 0 0 0 0 6926 23968 514160 94910 639964 EDUCATION PROGRAMS 611710 71240 71240 GENERAL ADMISSIONS 611710 4918 4918 76158 284546 284546 3116152 3407908 -291756 -291756 -291756 24522 23968 24522 0 4642 3039 1603 1603 OTHER INCOME 900099 6071 6071 6071 716586 83832 0 -7210 87220 48843 25294 13083 266562 149363 77416 39783 8985 5034 2608 1343 33152 18573 9625 4954 23338 3600 19738 5862 1665 2591 1606 181609 155574 19509 6526 168538 117976 47191 3371 14761 8857 4133 1771 PROGRAMS 28122 28122 EXHIBITS AND COLLECTION 11133 11133 OTHER 9245 5729 1611 1905 PAYROLL ADMINISTRATION 2706 1516 786 404 4269 2331 980 958 845502 558316 211482 75704 640406 524098 204613 71484 85009 3410 3465 8169 182940 4257868 2060158 1585896 2197710 8757973 8953821 300000 300000 165099 95422 11532437 12547078 87121 205364 761 707 158465 88994 246347 295065 X 4878128 7273620 6407962 4978393 11286090 12252013 11532437 12547078 -128916 1160221 -65382 0 X X 0 1 X 1 0 X 260429 204319 473761 415249 639964 1993722 260429 204319 473761 415249 639964 1993722 1993722 244767 411344 672356 535651 284546 2148664 6071 6071 4148457 297185 0.48060 0.48990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X EDUCATION PROGRAMS 0 8757973 1080848 885000 8953821 10832124 5850 -1551501 528500 8757973 9995988 321482 971154 456500 10832124 9477694 342786 577427 401919 9995988 8308239 176416 1250614 257575 9477694 0.44442 0.55558 0.00000 0 0 2800488 1695198 1105290 81556 59916 21640 1375824 305044 1070780 2197710 OPERATING LEASE LIABILITY 88994 88994 X 1835947 1160221 24522 1184743 651204 65382 65382 716586 870024 24522 24522 845502 0 845502 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, ART OBJECTS PURCHASED AND DONATED ARE NOT INCLUDED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM COLLECTS AND PRESERVES OBJECTS OF 18TH AND 19TH CENTURY NEW JERSEY HOME, FARM, AND SHOP CRAFTS INCLUDING ARTISAN'S TOOLS AND PRODUCTS PRODUCED AND USED BEFORE THE INDUSTRIAL ERA. INDIVIDUAL AREAS OF THE MUSEUM'S DISTINGUISHED COLLECTION INCLUDE 1) HAND TOOLS AND SIMPLE MACHINES, 2) DECORATIVE ARTS AND UTILITARIAN WARES, 3) FAMILY AND RECREATION, AND 4) ARCHIVES. OBJECTS FROM THE COLLECTION ARE PRESENTED IN PERMANENT AND CHANGING EXHIBITIONS. THE MUSEUM HOLDS ITS COLLECTIONS FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH RATHER THAN FOR FINANCIAL GAIN. IT PROTECTS, CARES FOR, PRESERVES, AND KEEPS ITS COLLECTIONS UNENCUMBERED, SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED SOLELY FOR THE BENEFIT OF THE COLLECTION AND TO PURCHASE NEW OBJECTS FOR THE COLLECTION. IN ADDITION, THE MUSEUM FOLLOWS THE PROVISIONS OF ASU 2019-03, UPDATING THE DEFINITION OF COLLECTIONS (TOPIC 958). ALL PROCEEDS FROM DEACCESSIONED OBJECTS SHALL BE DEPOSITED IN A RESTRICTED ACCOUNT TO BE USED EXCLUSIVELY FOR ACQUISITIONS OR DIRECT CARE OF THE MUSEUM'S PERMANENT COLLECTION. IN ADDITION TO ACQUIRING NEW OBJECTS, DEACCESSION FUNDS CAN BE USED FOR DIRECT CARE WHICH THE MUSEUM DEFINES AS AN OBJECT NEEDING CONSERVATION WHICH WOULD REQUIRE A RECOMMENDATION BY THE CURATOR WITH FULL BOARD APPROVAL. PART III, LINE 4: THE MUSEUM'S COLLECTIONS CONSIST MAINLY OF PRE-INDUSTRIAL CRAFTSMEN'S TOOLS. THEY ARE CATALOGUED, PRESERVED AND CARED FOR. ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED. THE MUSEUM'S COLLECTIONS, ACQUIRED THROUGH DONATION AND PURCHASE, ARE RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. COLLECTION ITEMS ARE RECORDED IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. PURCHASES AT COST AND DONATED ITEMS AT FAIR VALUE. PROCEEDS FROM DE-ACQUISITIONS ARE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. PART V, LINE 4: THE MUSEUM'S ENDOWMENT IS COMPRISED OF THREE FUNDS SUBJECT TO DONOR RESTRICTIONS AND BOARD OF TRUSTEES (BOARD) DESIGNATIONS. DONATED FUNDS WITH DONOR RESTRICTIONS ARE SUBJECT TO BEING CLASSIFIED AS PERMANENTLY RESTRICTED. DONOR-DESIGNATED FUNDS AND UNREALIZED APPRECIATION MAY BE CONSIDERED TEMPORARILY RESTRICTED UNTIL RELEASED BY THE BOARD OR GIFT INSTRUMENT. UNRESTRICTED FUNDS MAY BE USED FOR OPERATING OR OTHER PURPOSES. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE MUSEUM IS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS THEREFORE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE CODE. THE MUSEUM IS ALSO EXEMPT UNDER TITLE 15 OF THE STATE OF NEW JERSEY CORPORATIONS AND ASSOCIATIONS NOT FOR PROFIT ACT. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE MUSEUM FOLLOWS THE PROVISIONS OF FASB ASC, INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION AS THEY RELATE TO THOSE TAX POSITIONS. THE MUSEUM DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED DECEMBER 31, 2023. HOWEVER, THE MUSEUM IS SUBJECT TO AUDIT BY TAX AUTHORITIES, INCLUDING A REVIEW OF ITS NONPROFIT STATUS, WHICH MANAGEMENT BELIEVES WOULD BE UPHELD UPON EXAMINATION. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED FOR EACH YEAR. AS REQUIRED BY LAW, THE MUSEUM FILES INFORMATIONAL RETURNS WITH BOTH THE UNITED STATES FEDERAL AND STATE OF NEW JERSEY JURISDICTIONS ON AN ANNUAL BASIS- FORM 990 WITH THE INTERNAL REVENUE SERVICE, AND FORM CRI-300R WITH THE STATE. THESE RETURNS ARE SUBJECT TO EXAMINATION BY THESE AUTHORITIES WITHIN CERTAIN STATUTORILY DEFINED PERIODS FROM THE LATEST FILING DATE FOR FEDERAL AND FOR THE STATE OF NEW JERSEY. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL FUNDRAISING EXPENSES 24,522. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL FUNDRAISING EXPENSES 24,522. ANNUAL EVENT 48490 23968 24522 24522 48490 23968 24522 24522 24522 0 FORM 990, PART VI, SECTION B, LINE 11B THE MUSEUM OF EARLY TRADES AND CRAFTS HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PROVIDED TO THE MEMBERS OF THE ORGANIZATIONS GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH A REASONABLE AMOUNT OF TIME TO REVIEW THE FORM 990. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED THROUGH MANAGEMENT TO THE OUTSIDE ACCOUNTING FIRM. ANY APPLICABLE ISSUES ARE ADDRESSED PRIOR TO THE RETURN BEING FINALIZED AND APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE MUSEUM OF EARLY TRADES AND CRAFTS CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT REGULARLY MONITORS AND ENFORCES. THE BOARD MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, GOVERNING BODY AND MANAGEMENT WILL INVESTIGATE THE ISSUE. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST MANAGEMENT AND THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY. THE MEMBER WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THAT THERE IS NO LONGER A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE ORGANIZATIONS OFFICERS OR KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES, AN INDEPENDENT BODY. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM OF EARLY TRADES AND CRAFTS MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 9 MAIN STREET MADISON, NJ 07940. IN ADDITION FORM 1023 AS WELL AS THE FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 9 MAIN STREET MADISON, NJ 07940. FORM 990 PART XII, LINE 2C THERE WAS NO CHANGE FROM THE PRIOR YEAR.