Overview
What is Klipsch Heritage Museum Association Inc?
Klipsch Heritage Museum Association Inc, situated in Hope, Arkansas, is a dedicated nonprofit organization with a mission to restore, preserve, and exhibit Klipsch-related artifacts and archival materials for historical purposes. Leased from the local city board, the organization transformed a building on the National Historic Register into an educational center, offering free public tours three days a week or by appointment. The association's activities extend beyond preservation, as they conduct historical research and host educational events and activities, aiming to share the rich history of Klipsch and its impact.
Official website here: www.klipschmuseum.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%, Zero-Star out of Four Star rating.
The Klipsch Heritage Museum Association Inc has received a low rating due to significant deficiencies in its accountability and finance practices. The overall score reflects a weak accountability score of 33%, with serious concerns regarding the absence of essential policies like conflict of interest and whistleblower protection. While the board structure has been rated positively, indicating a majority of independent members, the lack of documented board meeting minutes raises transparency issues.
Financially, the organization struggles with a low program expense ratio of 30.16%, suggesting that a minimal portion of its funds is directed toward its programs. Additionally, there are concerns regarding the liabilities to assets ratio, which stands at 10.36%, indicating potential financial sustainability issues. The charity's failure to post required documents, such as its tax form on its website, further compounds these concerns about accountability.
While the organization has a strong board composition, the overall lack of necessary policies and transparency measures significantly undermines its credibility. Prospective donors and supporters may want to consider these factors when evaluating the museum's reliability and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Klipsch Heritage Museum Association Inc legitimate?
Klipsch Heritage Museum Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Klipsch Heritage Museum 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:
Executive Compensation: $13,280
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.klipschmuseum.org
What is the mission statement of Klipsch Heritage Museum Association Inc?
The Klipsch Heritage Museum Association Inc's mission is centered around restoring, preserving, and displaying Klipsch-related artifacts and archival materials for historical purposes. Additionally, the organization conducts historical research and hosts educational activities and events, aiming to promote a deeper understanding of the Klipsch legacy. The association operates an education center, housed in a building listed on the National Historic Register, which is open for free public tours three days a week or by appointment. The Museum's activities contribute to historical preservation and foster learning about the significant contributions made by Klipsch in the audio industry.
Official website here: www.klipschmuseum.org
What is the revenue of Klipsch Heritage Museum Association Inc?
Klipsch Heritage Museum Association Inc's revenue in 2024 was $79,097.
Official website here: www.klipschmuseum.org
Who are the executives of Klipsch Heritage Museum Association Inc and what are their salaries?
The average compensation at Klipsch Heritage Museum Association Inc during 2024 was $6,640. There are 2 employees and 20 volunteers at Klipsch Heritage Museum Association Inc.
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Official website here: www.klipschmuseum.org
Where can I find the form 990 for Klipsch Heritage Museum Association Inc?
Klipsch Heritage Museum Association Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.klipschmuseum.org
Learn more at the official website: www.klipschmuseum.org
Mission Statement of Klipsch Heritage Museum Association Inc
Klipsch Heritage Museum Association Inc is dedicated to restoring, preserving, and displaying Klipsch-related artifacts and archival materials for historical purposes. The organization's mission extends beyond mere preservation, as it also conducts historical research and hosts educational activities and events. By leasing a building on the National Historic Register, Klipsch Heritage Museum Association Inc has transformed the space into an education center, offering free public tours three days a week or by appointment. The museum serves as a testament to the heritage of Klipsch and its significant contributions to the field, providing a valuable resource for historical research and education.
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Impact
October, 2024
Klipsch Heritage Museum Association Inc plays a vital role in preserving the rich history of Klipsch and its contributions to the audio industry. By restoring and displaying artifacts and archival materials, the organization safeguards important historical narratives that might otherwise be lost. The museum, housed in a building on the National Historic Register, serves as a dedicated education center, providing free public tours and hosting educational events three days a week.
This accessibility allows community members and visitors to engage with the legacy of Klipsch, fostering a deeper appreciation for the brand's innovations in sound technology. Through its commitment to historical research and educational activities, the museum enriches the cultural landscape of Hope, Arkansas, while promoting the arts and heritage of audio engineering. The ribbon-cutting ceremony in May 2019 marked a significant milestone, transforming the space into a hub for learning and exploration of Klipsch's enduring impact.
This information is meant to be a general summary of Klipsch Heritage Museum 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 2024.
- Investment Income: $4
- Program Service Revenue: $22,763
- Gross Receipts: $86,486
Assets and Liabilities:
- Total Assets: $637,642
- Total Liabilities: $64,777
- Net Assets: $572,865
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Gift Shop
Revenue
$17,038
Publishing Income
Revenue
$5,725
Organization Details
Founding Year
2016
Principal Officer
Roy Delgado
Website
www.klipschmuseum.orgNTEE Category
Code: A50 - Arts
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