Overview
What is The Museum Store Association Inc?
The Museum Store Association Inc, headquartered in Greenwood Village, Colorado, is a nonprofit organization dedicated to enhancing the efficiency and success of retail stores affiliated with museums. Their mission is to elevate the nonprofit retail industry, encouraging professionalism and high standards among its members who serve their institutions and the public. The association achieves this by creating new initiatives, developing relevant and engaging programming, and fostering a pathway to meaningful credentialing. Annually, they host a conference to educate members on these aspects, contributing to the growth and success of the nonprofit retail sector.
Official website here: www.museumstoreassociation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
The Museum Store Association Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 92% in this area, indicating a solid commitment to ethical financial practices and transparency. This rating is significant as it demonstrates the nonprofit's dedication to maintaining high standards, which can foster trust among donors and stakeholders.
One of the standout features of The Museum Store Association is its governance structure, with a fully independent board comprised of nine members. This independence is crucial for effective oversight and decision-making, earning the organization perfect scores in board member independence and financial statement reviews. Additionally, the nonprofit has implemented various policies, such as a conflict of interest policy and a whistleblower policy, contributing to its strong accountability framework.
However, while the organization boasts a healthy liabilities to assets ratio of 55.90%, it may still face challenges in balancing its financial stability with program expenses, which currently stand at 71.93%. This indicates a significant portion of its budget is dedicated to program services, a positive metric, but it also suggests a need for ongoing vigilance in managing financial health to ensure long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is The Museum Store Association Inc legitimate?
The Museum Store Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Museum Store Association 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:
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For more financial information, click here
Official website here: www.museumstoreassociation.org
What is the mission statement of The Museum Store Association Inc?
The Museum Store Association Inc's mission is to advance the nonprofit retail industry and the success of the professionals working within it. They achieve this by encouraging high standards of knowledge and professionalism among nonprofit retail professionals, enabling them to better serve their institutions and the public. The association also seeks to create new initiatives, develop relevant and engaging programming, provide professionalized sessions for all levels, create content for younger members on appropriate platforms, and assess a pathway to meaningful credentialing.
Official website here: www.museumstoreassociation.org
What is the revenue of The Museum Store Association Inc?
The Museum Store Association Inc's revenue in 2023 was $1,045,865.
Official website here: www.museumstoreassociation.org
Who are the executives of The Museum Store Association Inc and what are their salaries?
There 81 volunteers at The Museum Store Association Inc.
Here are 12 key members and their salaries:
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Official website here: www.museumstoreassociation.org
Where can I find the form 990 for The Museum Store Association Inc?
The Museum Store Association Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.museumstoreassociation.org
Learn more at the official website: www.museumstoreassociation.org
Mission Statement of The Museum Store Association Inc
The Museum Store Association Inc, with a focus on advancing the nonprofit retail industry, aims to enhance the success of professionals engaged in this sector. By promoting high standards of knowledge and professionalism, this organization assists nonprofit retail professionals in serving their institutions and the public more effectively. The Museum Store Association Inc also strives to accomplish various objectives, such as creating new initiatives to advance itself, developing essential and relevant programming, and providing professionalized programming for all levels of attendees. Additionally, the association seeks to create content for younger members on appropriate platforms and work towards establishing a pathway to meaningful credentialing. In essence, The Museum Store Association Inc's mission is to elevate and strengthen the nonprofit retail industry and the professionals within it, ensuring they can serve their institutions and the public to the best of their abilities.
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Impact
July, 2024
The Museum Store Association Inc plays a crucial role in advancing the museum store retail industry and supporting the professionals involved in it. By promoting high standards of knowledge and professionalism, MSA empowers museum store professionals to better serve their institutions and the public. Additionally, MSA works towards creating new initiatives to enhance the industry, developing relevant and engaging programming for members at all levels, and exploring pathways for meaningful credentialing. Through initiatives like hosting an annual conference dedicated to educating members on maximizing the efficiency of nonprofit retail stores, MSA actively contributes to the growth and success of the museum store retail sector.
This information is meant to be a general summary of The Museum Store Association 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: $13,074
- Program Service Revenue: $1,030,608
- Gross Receipts: $1,045,865
Assets and Liabilities:
- Total Assets: $463,530
- Total Liabilities: $259,131
- Net Assets: $204,399
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONFERENCE REVENUE
Revenue
$726,232
MEMBERSHIP DUES
Revenue
$257,928
OTHER PROGRAM INCOME
Revenue
$20,978
PUBLICATION INCOME
Revenue
$19,220
ADVERTISING INCOME
Revenue
$6,250
Organization Details
Founding Year
1976
Principal Officer
Elizabeth Price
NTEE Category
Code: A50P - Arts
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