Overview
What is Peabody Essex Museum Inc?
Peabody Essex Museum Inc, led by Lynda Roscoe Hartigan, is a renowned nonprofit organization based at the Peabody Essex Museum in Salem, Massachusetts. Their mission is to showcase artistic and cultural creativity by collecting, preserving, and interpreting various objects of art and culture in ways that broaden perspectives, enrich the spirit, engage the mind, and stimulate the senses. Through exhibitions, programs, publications, media, and related activities, the museum creates transformative experiences that expand knowledge and deepen understanding of oneself and the wider world.
Official website here: www.pem.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
Peabody Essex Museum Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scored exceptionally well across various metrics, including a perfect score for having a fully independent board, which consists of 18 members. Its financial practices are robust, with no reported material diversion of assets, and its financial statements are diligently audited.
The museum's effective management is further demonstrated by a high program expense ratio of 78.77%, indicating that a significant portion of its budget is allocated to its programs rather than administrative costs. Additionally, it boasts an impressive fundraising efficiency ratio, suggesting that the organization is adept at raising funds in a cost-effective manner. The Peabody Essex Museum also maintains transparency through listed policies such as conflict of interest, whistleblower, and document retention.
While the museum's financial health appears solid with a low liabilities-to-assets ratio and a substantial working capital cushion, users did not report any significant limitations. The overall data reflects a well-managed nonprofit that prioritizes accountability, ensuring that funds are effectively utilized to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Peabody Essex Museum Inc legitimate?
Peabody Essex Museum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Peabody Essex Museum Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,450,953
Professional Fundraising Fees: $0
Other Salaries and Wages: $12,543,527
For more financial information, click here
Official website here: www.pem.org
What is the mission statement of Peabody Essex Museum Inc?
The Peabody Essex Museum's mission is to honor artistic and cultural creativity by amassing, preserving, and conveying objects of art and culture. Through its exhibitions, programs, publications, media, and related activities, the museum aims to generate experiences that broaden perspectives, shift attitudes, and deepen knowledge, stimulating the mind and senses. The Peabody Essex Museum's endeavors are designed to enrich people's lives, enhancing their understanding of themselves and the wider world.
Official website here: www.pem.org
What is the revenue of Peabody Essex Museum Inc?
Peabody Essex Museum Inc's revenue in 2023 was $40,068,783.
Official website here: www.pem.org
Who are the executives of Peabody Essex Museum Inc and what are their salaries?
The average compensation at Peabody Essex Museum Inc during 2023 was $52,024. There are 269 employees and 148 volunteers at Peabody Essex Museum Inc.
Here are 28 key members and their salaries:
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Official website here: www.pem.org
Where can I find the form 990 for Peabody Essex Museum Inc?
Peabody Essex Museum Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.pem.org
Learn more at the official website: www.pem.org
Mission Statement of Peabody Essex Museum Inc
Peabody Essex Museum Inc, a renowned cultural institution, strives to celebrate exceptional artistic and cultural creativity. It achieves this mission by collecting, safeguarding, and interpreting objects of art and culture in innovative ways that expand knowledge, enrich the spirit, engage the mind, and stimulate the senses. Through exhibitions, programs, publications, media, and associated activities, the Museum creates transformative experiences for visitors. These experiences broaden perspectives, challenge attitudes, and deepen understanding of the world and oneself.
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Impact
October, 2024
The Peabody Essex Museum (PEM) has a profound impact on the community and beyond by celebrating artistic and cultural creativity. Through its extensive collection and stewardship of diverse art and cultural objects, PEM enhances knowledge, enriches the spirit, and engages the intellect of its visitors. The museum transforms lives by offering experiences that broaden perspectives and deepen understanding of both individual identities and the interconnectedness of the wider world.
PEM’s exhibitions, programs, and publications serve not only as displays of art but as powerful tools for education and engagement. They invite visitors to explore new ideas and cultures, sparking conversations that encourage cultural appreciation and personal reflection. By stimulating the senses, PEM creates memorable interactions that resonate with visitors long after they leave.
The museum's commitment to interpreting art in meaningful ways ensures that it remains a vital resource for the community, fostering a deeper appreciation for the diverse stories represented within its walls. In doing so, the Peabody Essex Museum plays a crucial role in shaping cultural literacy and fostering artistic dialogue in Salem, Massachusetts, and beyond.
This information is meant to be a general summary of Peabody Essex Museum Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $3,656,599
- Program Service Revenue: $1,762,993
- Gross Receipts: $63,496,370
Assets and Liabilities:
- Total Assets: $781,479,714
- Total Liabilities: $77,150,402
- Net Assets: $704,329,312
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSIONS
Revenue
$1,239,428
FUNCTIONS
Revenue
$366,792
EDUCATION PROGRAM REV.
Revenue
$115,796
TRAVELING EXHIBITIONS
Revenue
$22,500
OTHER PROGRAM REVENUE
Revenue
$18,477
Organization Details
Founding Year
1992
Principal Officer
Lynda Roscoe Hartigan
Website
www.pem.orgNTEE Category
Code: A500 - Arts
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