2022-08-04T14:05:03-07:00 2021-12-31 274265856 C Marc Martin CPA PO Box 1775 Midland TX 79702 990 2021-01-01 756085378 PERMIAN BASIN PETROLEUM MUSEUM LIBRARY AND HALL OF FAME PERM 4326834403 1500 INTERSTATE HWY 20 WEST MIDLAND TX 79701 KATHERINE G SHANNON Executive Director 2022-08-04 true KATHERINE G SHANNON 999009999 C Marc Martin CPA P01428723 4326850094 X 2 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z KATHERINE G SHANNON 1500 INTERSTATE HWY 20 WEST MIDLAND TX 79701 3587693 false X PETROLEUMMUSEUM.ORG X 1967 TX THE PETROLEUM MUSEUM, LIBRARY AND HALL OF FAME WAS ORGANIZED TO PROCURE, CARE FOR, AND DISPLAY OBJECTS RELATED TO THE PETROLEUM, ENERGY AND TRANSPORTATION INDUSTRIES. IN THIS REGARD,THE MUSEUM PROVIDES INTERIOR AND EXTERIOR EXHIBITS RELATING TO THE PETROLEUM, ENERGY AND TRANSPORTATION INDUSTRIES ALONG WITH EDUCATIONAL PROGRAMS AND MAINTAINS ARCHIVES AVAILABLE FOR RESEARCH. 22 22 18 125 0 1934998 1880745 164280 296598 280020 536273 245248 723707 2624546 3437323 0 0 705238 820130 0 198932 1621394 1561157 2326632 2381287 297914 1056036 49217307 51276941 27443 549207 49189864 50727734 WE WILL SHARE THE PETROLEUM AND ENERGY STORY AND ITS IMPACT ON OUR LIVES. false false 1880754 THE PERMIAN BASIN PETROLEUM MUSEUM, LIBRARY AND HALL OF FAME WAS ORGANIZED TO PROCURE, CARE FOR, PRESERVE AND DISPLAY OBJECTS RELATED TO THE PETROLEUM, ENERGY AND TRANSPORTATION INDUSTRIES. IN THIS REGARD, THE MUSEUM PROVIDES INTERIOR AND EXTERIOR EXHIBITS RELATED TO THE PETROLEUM, ENERGY AND TRANSPORTATION INDUSTRIES ALONG WITH EDUCATIONAL PROGRAMS AND MAINTAINS ARCHIVES AVAILABLE FOR RESEARCH. 1880754 true true false false false false false true false true true false false true false true true false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 17 0 true 18 true false false false false false true true false 0 false false false false false false false X 22 22 false false false false false false false true true false false true true true true true true true false false X PERMIAN BASIN PETROLEUM MUSEUM 4326834403 1500 INTERSTATE HWY 20 WEST MIDLAND TX 79701 KATHERINE G SHANNON Executive Dir. 40.00 0.00 X 106400 0 0 LISA WORDEN FINANCE DIREC 30.00 0.00 X 51750 0 0 EEARL BALDRIDGE III President 2.00 0.00 X X 0 0 0 JOE LIBERTY Trustee 2.00 0.00 X 0 0 0 TRAVIS COUNTS Trustee 2.00 0.00 X 0 0 0 KLINE BOYD Trustee 2.00 0.00 X 0 0 0 DONNY MCCLURE Trustee 2.00 0.00 X 0 0 0 WES PERRY Trustee 2.00 0.00 X 0 0 0 KIP AGAR Trustee 2.00 0.00 X 0 0 0 MARK CARR Trustee 2.00 0.00 X 0 0 0 GREGG BAIANO Trustee 2.00 0.00 X 0 0 0 WILL PORTER Vice President 2.00 0.00 X X 0 0 0 R DANNY CAMPBELL Trustee 2.00 0.00 X 0 0 0 TREY GRAFA Trustee 2.00 0.00 X 0 0 0 BILLY HARRIS Secretary 2.00 0.00 X X 0 0 0 MIKE OESTMANN Trustee 2.00 0.00 X 0 0 0 LAURA PAIGE INNERARITY Trustee 2.00 0.00 X 0 0 0 SUSAN SPRATLEN Trustee 2.00 0.00 X 0 0 0 JOSH VIETS Trustee 2.00 0.00 X 0 0 0 ALAN KRENEK Treasurer 2.00 0.00 X X 0 0 0 JIM WOODCOCK Trustee 2.00 0.00 X 0 0 0 MAX WRIGHT Trustee 2.00 0.00 X 0 0 0 JOHN KENNEDY Trustee 2.00 0.00 X 0 0 0 SALLY KVASNICKA Trustee 2.00 0.00 X 0 0 0 158150 1 false false false LEE LEWIS CONSTRUCTION 7810 ORLANDO AVENUE LUBBOCK TX 79423 CONSTRUCTION FEE 1154173 RHOTENBERRY WELLEN ARCHITECTS 1102 WEST TEXAS AVENUE MIDLAND TX 79701 ARCHITECT FEE 143961 2 411754 1468991 1880745 ADMISSIONS CLASSES TRIPS 296598 296598 296598 536273 536273 0 384186 384186 0 0 382619 87769 294850 294850 0 107272 62601 44671 44671 0 3437323 1556578 0 0 0 0 158150 21280 94310 42560 0 471147 366148 12174 92825 7616 4689 1289 1638 137615 84723 23286 29606 45602 28075 7716 9811 0 0 21642 21642 0 0 0 0 10771 7540 2154 1077 15324 12259 3065 0 0 0 1945 1459 389 97 0 0 0 0 830734 747661 74766 8307 87606 65705 17521 4380 EDUCATIONAL PROGRAMS 277386 277386 REPAIRS & MAINTENANCE 161153 145057 14485 1611 UTILITIES 80687 72618 7262 807 MISCELLANEOUS 31737 20547 10549 641 42172 37866 1799 2507 2381287 1880754 301601 198932 0 1407918 850720 152090 98953 0 0 0 0 163442 129937 25637 88291 34411797 11803199 21482945 22608598 12541199 14056366 0 0 0 13444076 13444076 49217307 51276941 27443 549207 27443 549207 X 36676680 37790658 12513184 12937076 49189864 50727734 49217307 51276941 1056036 529330 -47496 X false true X true false X 845248 2044749 3160663 1934998 1880745 9866403 0 0 845248 2044749 3160663 1934998 1880745 9866403 3953548 5912855 315715 515099 623584 415105 920459 2789962 0 351777 232746 390061 110163 339519 1424266 14080631 0.41990 0.44300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X false 7614958 117568 1012692 302073 8443145 7211057 84397 626081 306577 7614958 6301421 63992 1095702 250058 7211057 6874529 34243 -314982 292369 6301421 6309371 51746 869050 317940 37698 6874529 0.04000 0.60000 0.36000 false false false 287102 287102 30582232 8794212 21788020 75586 75310 276 3466877 2933677 533200 22608598 13444076 X 4069527 529330 529330 3540197 47496 -150370 -102874 3437323 2531657 150370 150370 2381287 2381287 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o In conformity with the practice followed by many museums, art objects, antiques and other items of intrinsic value, donated to the Museum are not valued in the accompanying statement of financial position because their fair values are not readily determinable. The value of the collection objects acquired by gift for which the Museum can make a reasonable estimate is reported as in-kind contributions without donor restriction in the statement of activities.The cost of all objects purchased, together with the value of objects acquired by gift as indicated in the preceding paragraph, less the proceeds from de accessions of objects, is reported separately in the statement of activities as collection accessions and contributed collections not capitalized.Gifts of cash or other property restricted by donors for the purchase of items for the collection are classified as donor restricted net assets until acquisitions are made in accordance with the terms or the gifts. Part III, Line 4: Description of organization's collections and how it furthers its purpose. The Museum maintains a collection of exhibits and objects related to the petroleum industry and the cultural history of the Permian Basin. These exhibits and objects tell the history of the petroleum industry in the Permian Basin and provide resources for educational programs for students in the Permian Basin. Part V, Line 4: Intended uses of the endowment fund. EARNINGS FROM THE ENDOWMENT FUNDS ARE AVAILABLE FOR ANY ACTIVITIES OR PURPOSES AS DETERMINED BY THE BOARD OF DIRECTORS Part X : FIN48 Footnote The Museum adheres to accounting standards for uncertain tax positions, which would require additional disclosure. This applies to positions taken or expected to be taken in a tax return.The Museum does not believe its financial statements include any uncertain tax positions. Part XII, Line 2d: Other expenses and losses per audited F/S SPECIAL EVENT COSTS INCL IN REVENUE $87769 COGS INCL IN REVENUE $62601 X X X X X false HALL OF FAME 302619 302619 77345 SPONSOR SUPPORT PROGRAMS 80000 80000 10424 382619 382619 87769 87769 294850 Form 990, Part VI, Line 11b: Form 990 Review Process THE FORM 990 IS SENT ELECTRONICALLY TO BOARD MEMBERS UPON COMPLETION. THE FINANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990 WITH THE EXECUTIVE DIRECTOR AND IS THEN PRESENTED TO THE EXECUTIVE COMMITTEE. UPON APPROVAL BY EXECUTIVE COMMITTEE, THE FORM 990 IS FORWARDED TO THE FULL BOARD FOR THEIR REVIEW AND APPROVAL AS NEAR TO THE FILING DATE AS POSSIBLE. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ANY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED ON A CASE BY CASE BASIS. IF A BOARD MEMBER HAS A POTENTIAL CONFLICT OF INTEREST, HE/SHE WILL EXCUSE THEMSELF FROM ANY DISCUSSIONS OR VOTES PERTAINING TO THE POTENTIAL CONFLICT OF INTEREST. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management THE PERSONNEL COMMITTEE REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE EACH YEAR AND USES SALARY SURVEY INFORMATION FROM THE LOCAL NON-PROFIT MANAGEMENT CENTER AND THE AMERICAN ASSOCIATION OF MUSEUMS AS COMPARABILITY DATA DURING THE PROCESS OF ESTABLISHING THE EXECUTIVE DIRECTOR'S SALARY ANNUALLY. THE PROCESS IS DOCUMENTED AND THE REVIEW AND SALARY LEVEL ARE PLACED IN THE EXECUTIVE DIRECTOR'S PERSONNEL FILE. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE ON A REQUEST BY REQUEST BASIS.