2016-11-05T12:37:28-07:00 2015-12-31 C Marc Martin CPA PO Box 1775 Midland TX 797021775 990 2015-01-01 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 2016-11-05 true C Marc Martin CPA P01428723 4326850094 X 2015 2017-02-10 21:41:12Z KATHERINE G SHANNON 1500 W INTERSTATE 20 MIDLAND TX 79701 2820098 false false X PETROLEUMMUSEUM.ORG X 1967 TX SEE SCHEDULE O. 24 24 17 75 0 3099637 1744235 186620 120492 312823 352685 154965 380116 3754045 2597528 0 0 565068 647119 0 170157 860185 997997 1425253 1645116 2328792 952412 40812133 41269710 356698 353906 40455435 40915804 WE WILL SHARE THE PETROLEUM AND ENERGY STORY AND ITS IMPACT ON OUR LIVES. false false 1188431 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. 1188431 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 false false false false true 11 0 true 17 true false false false false false false true true false 0 false false false false false false false false false false X 24 24 false false false false false false false true true false false true true true true true true true false false X PERMAIN BASIN PETROLEUM MUSEUM 4326834403 1500 INTERSTATE HWY 20 WEST MIDLAND TX 79701 E EARL BALDRIDGE III BOARD MEMBER 2.00 0.00 X 0 0 0 JOE LIBERTY BOARD MEMBER 2.00 0.00 X 0 0 0 JIM BYERLOTZER BOARD MEMBER 2.00 0.00 X 0 0 0 KLINE BOYD BOARD MEMBER 2.00 0.00 X 0 0 0 DONNY MCCLURE BOARD MEMBER 2.00 0.00 X 0 0 0 MARK PHILPY President 2.00 0.00 X X 0 0 0 S CLAY BOMER BOARD MEMBER 2.00 0.00 X 0 0 0 BRUCE BRADY BOARD MEMBER 2.00 0.00 X 0 0 0 RICHARD BOOTH Vice President 2.00 0.00 X X 0 0 0 WILL PORTER BOARD MEMBER 2.00 0.00 X 0 0 0 JOSEPH DE COMPIEGNE BOARD MEMBER 2.00 0.00 X 0 0 0 MYRA DRIA BOARD MEMBER 2.00 0.00 X 0 0 0 BILLY HARRIS Secretary 2.00 0.00 X X 0 0 0 PETER COURTNEY BOARD MEMBER 2.00 0.00 X 0 0 0 DALE REDMAN BOARD MEMBER 2.00 0.00 X 0 0 0 TAYLOR MAYNE PAST PRESIDENT 2.00 0.00 X X 0 0 0 CLINT HURT BOARD MEMBER 2.00 0.00 X 0 0 0 ALAN KRENEK Treasurer 2.00 0.00 X X 0 0 0 JIM WOODCOCK BOARD MEMBER 2.00 0.00 X 0 0 0 PAUL MORRIS BOARD MEMBER 2.00 0.00 X 0 0 0 CLINT WALKER BOARD MEMBER 2.00 0.00 X 0 0 0 TOBY PAYNE BOARD MEMBER 2.00 0.00 X 0 0 0 LAURA ROMAN BOARD MEMBER 2.00 0.00 X 0 0 0 DOUG SCHMIDT BOARD MEMBER 2.00 0.00 X 0 0 0 JOE WRIGHT BOARD MEMBER 2.00 0.00 X 0 0 0 MARK CARR BOARD MEMBER 2.00 0.00 X 0 0 0 JOE CASTILLO BOARD MEMBER 2.00 0.00 X 0 0 0 KATHERINE G SHANNON Executive Dir. 40.00 0.00 X 99710 0 0 LISA WORDEN FINANCE DIREC 30.00 0.00 X 45270 0 0 144980 0 false false false THE NASSAL COMPANY 415 W KALEY ST ORLANDO FL 32806 FABR & INSTALL EXHIB 3957699 GO CONVERGENCE LLC 4545 36TH STREET ORLANDO FL 32811 AUDIO-VISUAL SOFTWAR 928722 LEE LEWIS CONSTRUCTION INC 7810 ORLANDO AVE LUBBOCK TX 79423 INTERIOR DEMOLITION 4407456 JACK ROUSE ASSOCIATES JRA 600 VINE STREET SUITE 1700 CINCINNATI OH 45202 DESIGN & PRODUCTION 467132 RHOTENBERRY WELLEN ARCHITECTS RWA 1102 W TEXAS AVE MIDLAND TX 79701 ARCHITECT 177860 5 710650 1033585 1744235 ADMISSIONS CLASSES TRIPS 120492 120492 120492 352685 352685 0 0 0 0 479775 141621 338154 338154 0 122911 80949 41962 41962 0 2597528 120492 732801 0 0 0 0 144980 19942 85154 39884 0 409779 316764 11881 81134 4808 2918 841 1049 46034 27940 8052 10042 41518 25199 7262 9057 0 0 15050 15050 0 0 39941 39941 0 29356 20549 5871 2936 14095 11276 2819 0 0 64000 44800 12800 6400 0 0 0 0 0 318367 286530 28653 3184 83227 62420 16646 4161 REPAIRS & MAINTENANCE 146569 132141 12985 1443 EDUCATIONAL PROGRAMS 119368 119368 UTILITIES 87407 78666 7867 874 MISCELLANEOUS 22303 16727 4461 1115 58314 34467 17788 6059 1645116 1188431 286528 170157 0 722229 1334512 3052661 1206435 0 0 0 0 154031 152799 25367 27830 29133447 7440283 11548279 21693164 16797002 8342406 0 0 0 8512564 8512564 40812133 41269710 356698 353906 356698 353906 X 20425050 31289767 15075037 4641565 4955348 4984472 40455435 40915804 40812133 41269710 952412 -560903 68860 X false true X true false X 2049138 4898125 7909956 3099637 1744235 19701091 0 0 2049138 4898125 7909956 3099637 1744235 19701091 0 19701091 154089 144768 245950 312823 352685 1210315 0 374509 234281 507659 154966 380116 1651531 22562937 0.87320 0.88720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X false 6628442 79558 -219438 294919 37650 6155993 6574858 13109 352241 284731 27035 6628442 5944933 18663 817111 184720 21129 6574858 5556901 39000 628561 274513 5016 5944933 5782672 35439 39769 300573 406 5556901 0.01550 0.80970 0.17480 false false false 287102 287102 26020483 5067595 20952888 78682 36389 42293 2747180 2336299 410881 21693164 8512564 X 2328054 -560903 68860 -492043 2820097 -222569 -222569 2597528 1867685 222569 222569 1645116 1645116 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 unrestricted contributions 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 temporarily 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 has adopted the provisions of FASB ASC 740-10-25, which requires that a tax position be recognized or derecognized based on a " more likely than not" threshold. 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 $141620 COGS INCL IN REVENUE $80949 X X X X X X false HALL OF FAME 369995 369995 2275 63629 35057 SPONSOR SUPPORT PROGRAMS 64805 64805 4707 2 44975 44975 4848 31105 479775 479775 2275 68477 70869 141621 338154 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. FORM 990, PART I, LN 1 - SIG. ACTIVITIES 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.