Florida Children's Museum Inc
Nonprofit profile at a glance
- EIN
- 592994883
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-T 2021
- Location
- Lakeland, FL, USA
- Phone
- 8636873869
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Children's Museums
Reported finances
- Revenue
- $2,377,813
- Expenses
- $3,231,024
- Assets
- $17,757,445
- Liabilities
- $1,410,728
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- CALLIE MILLER (PRESIDENT (VP THRU 12/24))
- KERRY FALWELL (CHIEF EXECUTIVE OFFICER)
Highest reported compensation
- KERRY FALWELL (CHIEF EXECUTIVE OFFICER): $106,017 total reported compensation
- THERESA LAURETTA (CHIEF ADMINISTRATIVE OFFIC): $72,598 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Curating the world for all children to explore
What it reported doing in 2024
Florida children's museum, inc. (the museum) curates the world for all children to explore. The museum, a 501(c)(3) nonprofit organization, operates under seven guiding principles:1) we educate through play.2) we welcome all children.3) our people are our secret sauce.4) we are here to stay.5) we serve our community.6) our children are safe and secure.7) we serve the whole family.(continued on schedule o)the museum opened in downtown lakeland, Florida, in 1991 and purchased the four-story historic kress building in 1998. A new facility debuted in late 2022 when the museum opened as Florida children's museum at bonnet springs park in a new, state-of-the-art 47,800 square foot facility. The museum produces 2,600 educator-directed programs each year in addition to presenting world-class, hands-on exhibits. Funding for exhibits and programs is diversified and includes admission sales, sponsorships, grants, and private donations. The museum is a "museums for all" facility, providing access to families with ebt cards for $3 admission per person. Complimentary admissions comprised 15% of total admissions (2024-2025) as grants were obtained to admit children and their families for free. In fiscal year 2025, the museum tracked 173,880 admissions, 36,779 program attendees and 73,406 at outreach events for a total public impact of 284,065 people served.
Operating model
- Revenue model
- Earned-program. 64% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 40
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 84.3%; rating input score 84
- Fundraising efficiency: $4.65 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -35.9%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 5.5; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
- Officer compensation ratio: 5.5%; rating input score 50; 50th percentile among comparable filings
Growth
- Program expense growth: 14.3% per year; rating input score 100; 76th percentile among comparable filings
- Revenue growth: 13.8% per year; rating input score 100; 79th percentile among comparable filings
- Asset growth: 24% per year; rating input score 100; 89th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 84.3% of spending went to programs
- Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $2.7M in reported program spending
- Leadership: top reported pay $106K · 26 people listed
- Consistency: 32 of 32 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 15/100.
- High — Sustainability: Operating margin scored 3/100.
- Review — Sustainability: Officer compensation ratio scored 50/100.