Overview
What is Science Museum Of Virginia Foundation Inc?
The Science Museum of Virginia Foundation Inc, based in Richmond, Virginia, serves as a crucial supporter for the Science Museum of Virginia, a renowned center for hands-on science education in the state. The foundation's primary role is to fund various exhibits at the museum, both permanent and visiting, providing visitors with engaging opportunities to explore science concepts. The Science Museum of Virginia Foundation's mission extends beyond exhibit support, including organizing educational programming, digital dome planetarium and movie events, lectures, demonstrations, live theater, and summer camps. The foundation raises funds through charitable contributions, grants, capital campaign gifts, fundraising events, and investment income, playing a significant role in the museum's annual support. With a dedicated team of 8 employees, the Science Museum of Virginia Foundation contributes to the museum's mission of increasing public understanding of science and technology throughout Virginia.
Official website here: www.smv.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Science Museum of Virginia Foundation Inc has achieved an impressive rating of 97% from Charity Navigator, indicating a strong level of accountability and financial management. The organization boasts a full score of 100 for having a majority of independent board members and maintaining rigorous financial oversight practices. Its commitment to transparency is reflected in the comprehensive availability of key documents, including conflict of interest policies and board meeting minutes.
Strengths of the foundation include a high program expense ratio of 73.18%, demonstrating a significant investment in its mission-related activities. Additionally, the organization has shown remarkable fundraising efficiency, with only $0.13 spent on fundraising for every dollar raised. Its low liabilities to assets ratio of 6.74% and a working capital ratio of nearly 8 years highlight strong financial stability and operational resilience.
Despite its strengths, there are no specific limitations noted in the available data. The foundation's culture and community efforts are rated at 100, alongside its equity strategies, suggesting a robust commitment to inclusivity and engagement with diverse communities. Overall, the Science Museum of Virginia Foundation Inc stands out as a well-managed nonprofit dedicated to its educational mission.
This AI summary has been generated from information found on Charity Navigator.
Is Science Museum Of Virginia Foundation Inc legitimate?
Science Museum Of Virginia Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Science Museum Of Virginia Foundation 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: $162,511
Professional Fundraising Fees: $0
Other Salaries and Wages: $333,894
For more financial information, click here
Official website here: www.smv.org
What is the mission statement of Science Museum Of Virginia Foundation Inc?
The Science Museum of Virginia Foundation (SMVF) serves as the private fundraising partner for the Science Museum of Virginia, a state-supported cultural institution established in 1970 with the aim of enhancing public understanding of science and technology across Virginia. The foundation raises additional support for the museum through charitable contributions, grants, capital campaign gifts, fundraising events, and investment income. The funds granted to the museum annually help sustain its programs, projects, and operations, as authorized and approved by the museum's trustees. The Science Museum of Virginia Foundation supports the museum's mission by providing resources for its interactive exhibits, visiting exhibitions, digital dome planetarium and movie events, educational programming, overnight adventures, lectures, demonstrations, live theater, and summer camps, among other activities.
Official website here: www.smv.org
Who is the CEO of Science Museum Of Virginia Foundation Inc?
Elena Edwards is the Vice President of Science Museum Of Virginia Foundation Inc.
Official website here: www.smv.org
What is the revenue of Science Museum Of Virginia Foundation Inc?
Science Museum Of Virginia Foundation Inc's revenue in 2023 was $4,469,641.
Official website here: www.smv.org
Who are the executives of Science Museum Of Virginia Foundation Inc and what are their salaries?
The average compensation at Science Museum Of Virginia Foundation Inc during 2023 was $62,051. There are 8 employees and 57 volunteers at Science Museum Of Virginia Foundation Inc.
Here are 25 key members and their salaries:
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Official website here: www.smv.org
Where can I find the form 990 for Science Museum Of Virginia Foundation Inc?
Science Museum Of Virginia Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.smv.org
Learn more at the official website: www.smv.org
Mission Statement of Science Museum Of Virginia Foundation Inc
The Science Museum of Virginia Foundation, Inc., serves as the private fundraising partner for the Science Museum of Virginia, a premier center for hands-on science education. Established in 1970 by both the Virginia Academy of Science and the Virginia General Assembly, the Science Museum's mission is to raise the public understanding of science and technology throughout the commonwealth. As a state-supported cultural institution, the museum receives approximately half of its annual support from the Commonwealth of Virginia. The remaining support is raised by the Foundation through charitable contributions, grants, capital campaign gifts, fundraising events, and investment income. The Science Museum of Virginia Foundation, Inc., grants these funds to the Science Museum on an annual basis to support the programs, projects, and operations that are authorized and approved by the museum's trustees. By doing so, the Foundation plays a crucial role in ensuring the continued success and growth of the Science Museum of Virginia, providing an invaluable resource for science education in Virginia.
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Impact
October, 2024
The Science Museum of Virginia Foundation Inc significantly enhances the educational landscape of Virginia by fostering a deeper understanding of science and technology. Through its support of the Science Museum of Virginia, it provides access to a premier center for hands-on science education. Visitors can engage with permanent and visiting exhibitions that cover a wide range of scientific topics, promoting interactive learning experiences.
The Foundation plays a crucial role in the development and maintenance of hundreds of exhibits, offering unique opportunities for visitors to learn through direct experimentation and engagement. Its array of programs, including educational workshops, overnight adventures, lectures, and summer camps, further enriches the educational experience for people of all ages.
Additionally, the Foundation facilitates the operation of engaging events, such as digital dome planetarium shows and live theater performances, which captivate audiences and deepen their appreciation for science. By securing funding through charitable contributions, grants, and fundraising events, it ensures the continuous improvement and expansion of the museum's offerings, thereby making a lasting impact on the community's understanding of science and its relevance in everyday life.
This information is meant to be a general summary of Science Museum Of Virginia Foundation 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: $685,868
- Program Service Revenue: $640,273
- Gross Receipts: $7,310,044
Assets and Liabilities:
- Total Assets: $32,188,132
- Total Liabilities: $2,325,247
- Net Assets: $29,862,885
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MUSEUM MEMBERSHIP ADMISSIONS
Revenue
$636,222
ALL OTHER (SMV VOLUNTEER/MISC)
Revenue
$4,051
Organization Details
Founding Year
1972
Phone
(804) 864-1546Principal Officer
Elena Edwards
Main Address
PO BOX 11624, RICHMOND, VA, 23230
Website
www.smv.orgNTEE Category
Code: A50 - Arts
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