Overview
What is The Bakken?
The Bakken is a nonprofit institution located at 3537 ZENITH AVE S, MINNEAPOLIS, MN, 55416. Its primary mission is to inspire innovation, particularly at the intersection of science, technology, and the humanities. This is achieved through exhibits and a vast collection of artifacts and books, focusing on electricity, magnetism, and their impact on life sciences and medicine. These collections, reflecting the belief in historical study and self-inquiry, are open to the public for research and are integrated into the museum's interactive exhibits. The Bakken's exhibits aim to educate, inspire, and foster innovation among its visitors, with a total staff of 46 individuals.
Official website here: www.thebakken.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star rating.
The Bakken has achieved an impressive 100% score, which reflects a robust commitment to accountability and financial transparency. The organization boasts a fully independent board, comprising 96% independent members, and has established strong governance practices, including a comprehensive conflict of interest policy and a whistleblower policy. These factors contribute to its high standing in the nonprofit sector.
Financially, The Bakken demonstrates sound management with a program expense ratio of 72.91%, indicating that a significant majority of its funds are directed towards its mission-related activities. Furthermore, the organization has a low liabilities to assets ratio of 3.41%, which suggests strong financial health and sustainability. The presence of an Audit and Oversight Committee further underscores its commitment to maintaining rigorous financial oversight.
While the organization shows exemplary performance in multiple areas, it is important for stakeholders to remain engaged and aware of ongoing operational practices. Continued transparency and effective communication will be essential for The Bakken to maintain its high standards and ensure donor trust in the long run.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Bakken?
92% of 33 reviewers on Facebook recommend The Bakken. Here is a summary of their reviews:
Many commenters highlight the exceptional staff and the remarkable venue, which contributed to memorable experiences, such as weddings. Patrons appreciate the unique and engaging atmosphere that The Bakken provides, making it a standout choice for special events.
Overall, the sentiments lean heavily towards satisfaction, with users expressing enjoyment of the services and the setting. The nonprofit evidently excels in creating a welcoming and enjoyable environment for its guests.
This AI summary has been generated from reviews found on Facebook.
Is The Bakken legitimate?
The Bakken is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Bakken 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: $211,905
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,335,065
For more financial information, click here
Official website here: www.thebakken.org
What is the mission statement of The Bakken?
The Bakken Museum's mission is to stimulate a passion for innovation. They achieve this by delving into the potential of science, technology, and the humanities to improve the world. The museum explores this concept through its exhibits and collections, which focus on the intersection of electricity and magnetism, life sciences, and medicine. The collections, reflecting Earl Bakken's belief in the importance of historical study, self-inquiry, and experimentation, are open to the public for research and use in exhibits. The exhibits themselves are interactive, educating, inspiring, and fostering innovation among visitors.
Official website here: www.thebakken.org
Who is the CEO of The Bakken?
Alissa Light is the Chair of The Bakken. The CEO's salary of The Bakken is $42,801 and their total compensation is $45,363.
Official website here: www.thebakken.org
What is the revenue of The Bakken?
The Bakken's revenue in 2022 was $1,802,676.
Official website here: www.thebakken.org
Who are the executives of The Bakken and what are their salaries?
The average compensation at The Bakken during 2022 was $33,630. There are 46 employees and 150 volunteers at The Bakken.
Here are 26 key members and their salaries (The Bakken's CEO's salary is $42,801 and their total compensation is $45,363):
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- Compensation: $100,335
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- Other: $4,418
Official website here: www.thebakken.org
Where can I find the form 990 for The Bakken?
The Bakken's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thebakken.org
Learn more at the official website: www.thebakken.org
Mission Statement of The Bakken
The Bakken, a renowned institution, is dedicated to igniting a passion for innovation. Its mission is twofold: firstly, it aims to explore the interplay between science, technology, and the humanities, and secondly, it strives to demonstrate the potential of these disciplines in creating a better world. The Bakken Museum achieves this mission through its extensive collection of artifacts and books, which delve into the history of electricity and magnetism, as well as their impact on the life sciences and medicine. These collections are not merely for display; they serve as a resource for research and are incorporated into the museum's exhibits.
The exhibits at The Bakken are interactive and thought-provoking, designed to educate, inspire, and stimulate innovation within its visitors. By engaging with these exhibits, visitors can gain a deeper understanding of the role of science and technology in shaping our world and the possibilities they hold for future advancements. The museum's commitment to history, self-inquiry, and experimentation is evident in its exhibits, which reflect the beliefs of its founder, Earl Bakken, who saw the importance of these pursuits in driving progress.
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Impact
July, 2024
The Bakken's impact lies in its ability to inspire a passion for innovation through its exhibits and collections. By focusing on the intersection of the history of electricity and magnetism, as well as life sciences and medicine, The Bakken encourages visitors to engage in history, self-inquiry, and experimentation. The hands-on displays at The Bakken educate, inspire, and spark innovation in its visitors, ultimately contributing to a culture of curiosity and creativity.
This information is meant to be a general summary of The Bakken. 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 2022.
- Investment Income: -$244,837
- Program Service Revenue: $629,829
- Gross Receipts: $9,172,802
Assets and Liabilities:
- Total Assets: $16,697,297
- Total Liabilities: $570,813
- Net Assets: $16,126,484
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATIONAL PROGRAMS
Revenue
$473,917
FACILITY USE FEES
Revenue
$155,912
Organization Details
Founding Year
1975
Phone
(612) 926-3878Principal Officer
Alissa Light
Main Address
3537 ZENITH AVE S, MINNEAPOLIS, MN, 554164623
Website
www.thebakken.orgNTEE Category
Code: A570 - Arts
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