Overview
What is Portsmouth Museums Foundation Inc?
Portsmouth Museums Foundation Inc is a nonprofit organization situated in Portsmouth, Virginia. Their primary mission is to strengthen the cultural landscape of Virginia by raising both private and public funds for the Children's Museum of Virginia. The Foundation acts as a receiving agent for funds benefiting all Portsmouth's city museums and related projects, collaborating closely with the city itself. This organization plays a significant role in the region, as its museums attract visitors from various municipalities in Hampton Roads, neighboring cities and counties, and all fifty U.S. states. The museums serve as a valuable educational and economic asset for the area, particularly for pre-K and elementary students. With a small workforce of one individual, the Foundation is dedicated to enriching the community through cultural experiences.
Official website here: www.portsmouthmuseumsfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star Rating
The Portsmouth Museums Foundation Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The charity's overall score is based entirely on its performance in the Accountability & Finance category, where it scored 90%. This high score indicates that the organization effectively manages its resources and maintains transparency.
One of the key strengths of the Portsmouth Museums Foundation is its governance structure, featuring a fully independent board with no material diversion of assets. The organization also demonstrates solid fiscal management, as evidenced by its impressive program expense ratio of 88.15%, indicating that a significant portion of its funding is allocated directly to its mission-driven programs. Additionally, the charity's adherence to important policies, such as having a conflict of interest policy and the proper listing of its website on tax forms, further supports its credibility.
However, it is notable that the organization lacks a whistleblower policy, which reflects a potential area for improvement in its governance practices. While the foundation exhibits strong accountability in many areas, addressing this oversight could enhance its overall transparency and trustworthiness within the community it serves. Overall, the Portsmouth Museums Foundation Inc demonstrates a solid foundation for continued impact and growth.
This AI summary has been generated from information found on Charity Navigator.
Is Portsmouth Museums Foundation Inc legitimate?
Portsmouth Museums Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Portsmouth Museums 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: $78,488
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.portsmouthmuseumsfoundation.org
What is the mission statement of Portsmouth Museums Foundation Inc?
The Portsmouth Museums Foundation Inc's mission is to raise both private and public funds for the Children's Museum of Virginia and support various city museums and related projects. In collaboration with the city of Portsmouth, the foundation serves as a receiving agent for these funds. The resources accumulated by the foundation aim to enhance the cultural experience in Virginia, attracting a wide range of visitors, including pre-K and elementary students, from various municipalities and states. The museums, in turn, function as an educational and economic asset for the entire region.
Official website here: www.portsmouthmuseumsfoundation.org
Who is the CEO of Portsmouth Museums Foundation Inc?
Brandy Lee Mcnamee is the Ex Director of Portsmouth Museums Foundation Inc.
Official website here: www.portsmouthmuseumsfoundation.org
What is the revenue of Portsmouth Museums Foundation Inc?
Portsmouth Museums Foundation Inc's revenue in 2022 was $1,242,042.
Official website here: www.portsmouthmuseumsfoundation.org
Who are the executives of Portsmouth Museums Foundation Inc and what are their salaries?
The average compensation at Portsmouth Museums Foundation Inc during 2022 was $78,488. There is 1 employee and 17 volunteers at Portsmouth Museums Foundation Inc.
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Official website here: www.portsmouthmuseumsfoundation.org
Where can I find the form 990 for Portsmouth Museums Foundation Inc?
Portsmouth Museums Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.portsmouthmuseumsfoundation.org
Learn more at the official website: www.portsmouthmuseumsfoundation.org
Mission Statement of Portsmouth Museums Foundation Inc
Portsmouth Museums Foundation Inc is dedicated to raising both private and public funds for the Children's Museum of Virginia. Beyond this, the organization serves as a receiving agent for funds benefiting all of Portsmouth's city museums and related projects, working in partnership with the city itself. The ultimate goal of Portsmouth Museums Foundation Inc is to enhance the cultural quality of life in Virginia. The city's museums, which attract visitors from various municipalities across Hampton Roads, neighboring cities and counties, and all fifty U.S. states, function as both an educational and economic asset for the entire region. By securing funds, Portsmouth Museums Foundation Inc plays a significant role in preserving and promoting the city's cultural heritage, ensuring that these institutions can continue to educate and entertain future generations.
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Impact
July, 2024
The Portsmouth Museums Foundation Inc's impact lies in its ability to generate both private and public funds for the Children's Museum of Virginia and other museums in Portsmouth. By broadening the cultural quality of life in the Commonwealth of Virginia, the foundation helps attract pre-K and elementary students as well as visitors from various municipalities, neighboring cities, counties, and all fifty states. The museums served by the foundation are not only educational assets but also contribute to the economic development of the entire region.
This information is meant to be a general summary of Portsmouth Museums 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 2022.
- Investment Income: $24,751
- Gross Receipts: $1,341,462
Assets and Liabilities:
- Total Assets: $4,167,029
- Total Liabilities: $1,179
- Net Assets: $4,165,850
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Organization Details
Founding Year
1992
Phone
(757) 393-8983Principal Officer
Brandy Lee Mcnamee
Main Address
521 MIDDLE STREET, PORTSMOUTH, VA, 23704
NTEE Category
Code: A99Z - Arts
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