Vesterheim Norwegian American Museum in Decorah, Iowa (IA)

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Vesterheim Norwegian American Museum
Employer Identification Number (EIN)426081638
Name of OrganizationVesterheim Norwegian American Museum
Address523 W Water St, Decorah, IA 52101-1733
ActivitiesMuseum, zoo, planetarium, etc.
SubsectionCharitable Organization
Ruling Date04/1965
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$8,929,640
Amount of Income$3,088,092
Form 990 Revenue Amount$1,971,036
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Museum, Museum Activities


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Amount of income in 2012: $3,088,092 (it was $4,323,893 in 2011)
This organization: 

 $3,088,092
Other organizations performing similar types of work: 

 $424,171

Assets in 2012: $8,929,640 (it was $8,713,291 in 2011)
Vesterheim Norwegian American Museum: 

 $8,929,640
Other organizations performing similar types of work: 

 $1,174,432

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,534,497
Contributions, Gifts, Grants and Other Similar Amounts$534,970
Program Service Revenue$734,183
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$118,641
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$8,624
Gross rents (Real / Personal)$14,215 / $0
Less: rental expenses (Real / Personal)$5,591 / $0
Rental income or (loss) (Real / Personal)$8,624 / $0
Net gain from sales of assets other than inventory$20,118
Gross amount from sales of assets other than inventory (Securities / Other)$207,052 / $0
Less: cost or other basis and sales expenses (Securities / Other)$186,934 / $0
Gain or (loss) (Securities / Other)$20,118 / $0
Net loss from fundraising events$-5,061
Gross income from fundraising events$31,942
Less: direct expenses$37,003
Net income from gaming activities$0
Net income from sales of inventory$122,276
Gross sales of inventory, less returns and allowances$255,913
Less: cost of goods sold$133,637
Miscellaneous Revenue$746
Statement of Functional Expenses (for 2011)
Total functional expenses$1,447,897
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$427,185
Payroll taxes$52,966
Professional fundraising services$0
Other$967,746
Balance Sheet (for 2011)
Total assets$8,713,291
Total liabilities$231,121
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$75,000
Unsecured notes and loans payable to unrelated third parties$0
Other$156,121
Total net assets or fund balances$8,482,170
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$8,257,257
Gifts, grants, contributions, and membership fees received$5,129,741
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$2,568,450
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$559,066
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Historic Arnolds Park IncPO BOX 609, Arnolds Park, IA 51331-0609IA1984-08$2,949,021
2National Sprint Car Hall Of Fame & Museum Foundation IncPO BOX 542, Knoxville, IA 50138-0542IA1987-09$1,073,847
3Smith Museum Of Stained Glass Windows20 N Wacker Drive, Chicago, IL 60606-2806IL1994-05$874,772
4National Czech & Slovak Museum & Library1400 Inspiration Pl Sw, Cedar Rapids, IA 52404-5918IA1976-05$12,932,911
5Southwest Dairy Museum Inc1210 Houston St, Sulphur Spgs, TX 75482-2310TX1983-11$8,900,426
6The Museum For African Art1280 5th Ave Apt 20a, New York, NY 10029-7815NY1982-12$8,291,235
7Witte Museum3801 Broadway St, San Antonio, TX 78209-6396TX1932-11$6,805,249
8Studio Museum In Harlem Inc144 W 125th Street, New York, NY 10027-4423NY1967-11$5,658,513
9Staten Island Institute Of Arts And Sciences75 Stuyvesant Pl, Staten Island, NY 10301-1912NY1940-06$5,423,145
10Danish Immigrant Museum2212 Washington St, Elk Horn, IA 51531-2116IA1983-11$4,495,408
11Powerhouse Science Center3615 Auburn Blvd, Sacramento, CA 95821-2007CA1995-01$4,017,957
12Vesterheim Norwegian American Museum523 W Water St, Decorah, IA 52101-1733IA1965-04$3,088,092
13Bob Feller Museum IncPO BOX 95, Van Meter, IA 50261-0095IA1990-12$489,980
14Grout Museum Inc503 South St, Waterloo, IA 50701-1517IA1993-11$310,473
15German American Heritage Center712 W 2nd St, Davenport, IA 52802-1410IA1995-04$239,776
16Air Power Museum Inc22001 Bluegrass Rd, Ottumwa, IA 52501-8569IA1965-12$146,272
17National Balloon Museum IncPO BOX 149, Indianola, IA 50125-0149IA1980-09$62,543
18Swedish Heritage Society Foundation IncPO BOX 74, Swedesburg, IA 52652-0074IA1991-11$61,661
19Museum Of Religious Arts Inc2697 Niagara Trl, Logan, IA 51546-6015IA1995-11$51,759
20The@hemken CollectionPO BOX 86, Williams, IA 50271-0086IA1999-11$26,282
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas6
Arizona11
California73
Colorado12
Connecticut16
District of Columbia3
Delaware3
Florida25
Georgia11
Hawaii10
Iowa15
Idaho4
Illinois33
Indiana16
Kansas18
Kentucky10
Louisiana6
Massachusetts17
Maryland13
Maine13
Michigan18
Minnesota7
Missouri14
Mississippi3
Montana3
North Carolina12
North Dakota3
Nebraska2
New Hampshire8
New Jersey14
New Mexico10
Nevada2
New York49
Ohio32
Oklahoma14
Oregon7
Pennsylvania20
Rhode Island2
South Carolina5
South Dakota7
Tennessee13
Texas39
Utah2
Virginia13
Vermont5
Washington13
Wisconsin12
West Virginia2
Wyoming2
International1
Total653

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