2022-06-15T12:29:43-05:00 2021-12-31 812437443 KALOS HUTCHINGS & COMPANY LLC 8460 LIMEKILN PIKE SUITE C-10 WYNCOTE PA 19095 990 2021-01-01 113835285 JOHN F PETO STUDIO MUSEUM INC JOHN 7329294949 PO BOX 1022 ISLAND HEIGHTS NJ 08732 DAVID C SHIPMAN TRUSTEE/DIRECTOR 7329294949 2022-06-08 DAVID C SHIPMAN XXX-XX-XXXX JAMES A HUTCHINGS CPA P00546005 2158865700 2022-06-14 2021 2022-09-23 18:48:47Z LINDA BAXTER PO BOX 1022 ISLAND HEIGHTS NJ 08732 179191 false X WWW.PETOMUSEUM.ORG X 2010 NJ TO PROMOTE THE LEGACY OF JOHN F. PETO, INTERNATIONALLY RENOWNED ARTIST, BY MAINTAINING HIS HOME AND STUDIO AS A WORKING MUSEUM, BY FOSTERING EDUCATIONAL OPPORTUNITIES IN THE ARTS AND PARTNERING WITH THE LARGER COMMUNITY. 13 13 1 76 0 791919 160202 8603 4701 1239 8166 -10914 801761 162155 0 0 10471 0 4254 53132 103067 53132 113538 748629 48617 1129698 1203977 0 1129698 1203977 X TO PROMOTE THE LEGACY OF JOHN F. 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USING FUNDS RAISED COMBINED WITH GRANT FUNDING OBTAINED FROM THE OCEAN COUNTY CULTURAL & HERITAGE COMMISSION TO 1) MAKE NECESSARY REPAIRS & IMPROVEMENTS TO THE MUSEUM BUILDING INCLUDING REPAIRS TO THE STAIRCASES AND NEW DEHUMIDIFER UNIT 2) KEEP THE MUSEUM PROPERTY WELL MAINTAINED (PAINTING & LANDSCAPED)3) ALLOW FOR AN INCREASE IN INSURANCE COVERAGE TO A MORE REALISTIC LEVEL 4) PERMIT TOURS OF TWO NEW EXHIBITS DURING THE YEAR 5)EXPAND PROGRAMMING WITH THE PILOT OF OUR FIRST CHILDREN'S SUMMER CAMP. 81845 true true false false false false false true false true true false false false false false false 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 4 0 1 true false false false false false false false false X 13 13 false false false false false false false true true false false true true false false false false false false false X WENDY BRIGHT FALLON 7329294949 PO BOX 1022 ISLAND HEIGHTS NJ 08732 X EVE ALLISON TRUSTEE 5.00 X 0 0 0 LINDA BAXTER PRESIDENT, T 15.00 X X 0 0 0 HARRY BOWER TRUSTEE, CUR 20.00 X 0 0 0 WENDY BRIGHT-FALLON TREASURER, T 10.00 X X 0 0 0 DENNIS J BROSCHART TRUSTEE 2.00 X 0 0 0 FRANK PARISI PH D VICE PRES., 10.00 X X 0 0 0 ELISE A FIALKOWSKI TRUSTEE 2.00 X 0 0 0 MARC HAJJAR TRUSTEE 2.00 X 0 0 0 BARBARA HANNA TRUSTEE 5.00 X 0 0 0 ADAM KNOX TRUSTEE 2.00 X 0 0 0 STUART PENMAN TRUSTEE 2.00 X 0 0 0 DAVID C SHIPMAN TRUSTEE/DIRE 10.00 X X 0 0 0 SUSAN SWAIN SECRETARY, T 5.00 X X 0 0 0 false false false 9095 42544 16502 92061 21940 160202 TOUR REVENUE 2701 2701 CAMP REGISTRATIONS 2000 2000 4701 8112 8112 54 54 54 54 6122 42544 17036 -10914 162155 4755 8112 X 9400 5640 2820 940 1071 643 321 107 734 734 11300 11300 18807 16587 1394 826 9221 7714 1063 444 4901 928 3034 939 2243 1218 801 224 10225 10225 1143 1143 9484 9484 10266 6611 3655 MUSEUM REPAIRS & MAINT 9558 9558 MUSEUM LANDSCAPING 7108 7108 SUPPLIES 2741 1889 578 274 EXHIBIT SUPPLIES & MTLS 1998 1998 3338 1099 1739 500 113538 81845 27439 4254 17956 61611 438813 52534 623343 11727 620029 611616 475464 52900 2752 1129698 1203977 0 0 X 1129698 776495 427482 1129698 1203977 1129698 1203977 48617 81119 -55457 X false false false X 111253 70972 284763 791919 160202 1419109 111253 70972 284763 791919 160202 1419109 1419109 448 2477 1239 8112 12276 1431385 10823 0.99140 0.99700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 300000 66482 366482 1.00000 true false 270053 270053 349975 11217 338758 608811 SCHEDULE D, PAGE 1, PART III, LINE 1A THE MUSEUM'S COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION , ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF ASSETS, LIABILITIES, AND NET ASSETS - MODIFIED CASH BASIS. SCHEDULE D, PAGE 2, PART III, LINE 4 THE MUSEUM'S COLLECTIONS CONSIST OF HISTORICALLY SIGNIFICANT ARTIFACTS AND ART HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. THE ITEMS ARE CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. ALL SIGNIFICANT PAINTINGS ARE INSURED UNDER A FINE ARTS POLICY. SCHEDULE D, PAGE 2, PART V, LINE 4 THE GENERAL PURPOSE OF THE ENDOWMENT TRUST IS TO MAINTAIN AND PRESERVE THE MUSEUM BUILDING, AND PROVIDE FOR ONGOING MAINTENANCE, BY SUPPLYING FUNDS NECESSARY TO REPAIR AND MAINTAIN THE BUILDING. PETO CUP 48666 42544 6122 2730 50 1234 7511 600 4911 48666 42544 6122 2730 50 1234 7511 600 4911 17036 -10914 FORM 990 - ORGANIZATION'S MISSION TO PROMOTE THE LEGACY OF JOHN F. PETO, INTERNATIONALLY RENOWNED ARTIST, BY MAINTAINING HIS HOME AND STUDIO AS A WORKING MUSEUM, BY FOSTERING EDUCATIONAL OPPORTUNITIES IN THE ARTS AND PARTNERING WITH THE LARGER COMMUNITY. FORM 990, PAGE 6, PART VI, LINE 11B THE FINANCE COMMITTEE OF BOARD OF TRUSTEES REVIEWS A DRAFT OF FORM 990 AND AGREES UPON ANY NECESSARY CHANGES PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G NON-PROFESSIONAL FUNDRAISING 0 0 361 APPRAISAL FEES 8,175 0 0 OTHER CONTRACT FEES 8,412 1,394 465 TOTAL 16,587 1,394 826 FORM 990, PART XI EXPLANATION FOR LINE 8 PRIOR PERIOD ADJUSTMENT: SUBSEQUENT TO THE TIMELY FILING OF THE MUSEUM'S 2020 FORM 990, JOHN F. PETO STUDIO MUSEUM , INC. HAD AN AUDIT OF THEIR 2020 FINANCIAL STATEMENTS THAT RESULTED IN A 55,457 DECREASE ADJUSTMENT TO NET ASSETS AT 12/31/2021. 53,417 OF THIS TOTAL RESULTED FROM ADJUSTMENTS TO THE 12/31/2019 NET ASSETS TO REMOVE THE VALUE OF ARTWORK FROM THE MUSEUM'S COLLECTION AS PERMITTED UNDER FASB ASC 958. THE BALANCE OF THE ADJUSTMENT RESULTED FROM THE RECORDING OF ADDITIONAL DEPRECIATION UPON THE RECLASSIFICATION OF CERTAIN CAPITAL ASSETS.