2011-11-14T09:49:41-07:00 2010-12-31 990 2010-01-01 742519972 NATIONAL CORVETTE MUSEUM FOUNDATION INC NATI 2707817973 350 Corvette Drive Bowling Green KY 42101 Christy Thomas 2707817973 2011-11-14 2010 2016-02-24 21:20:13Z NATIONAL CORVETTE MUSEUM Wendell K Strode 350 Corvette Dr Bowling Green KY 42101 10748210 0 X www.corvettemuseum.org X 1988 NM The National Corvette Museum Foundation, Inc's primary mission is to preserve the history and heritage of the Corvette automobile, to operate as a repository for historical Corvette and automotive documents, and to educate the public on the design, development, assembly, and history of the Corvette automobile and the automotive industry. 17 16 98 365 64108 -10187 1561411 1413225 1477583 1602718 24385 132081 4402909 3649692 7466288 6797716 0 0 0 0 2477663 2554128 0 0 176692 3235880 3219622 5713543 5773750 1752745 1023966 27612678 27787912 10584297 9735565 17028381 18052347 The National Corvette Museum Foundation, Inc's primary mission is to preserve the history and heritage of the Corvette automobile, to operate as a repository for historical Corvette and automotive documents, and to educate the public on the design, development, assembly, and history of the Corvette automobile and the automotive industry. 0 0 1086987 0 Tours and Exhibits: The NCM provided educational tours to 143,740 people during calendar year 2010. 6,444 students participated in the educational tours, along with their school groups. Each tour includes watching a 13 minute video on the history of the Corvette and visiting educational exhibits showing a mid-century barbershop and an old service station complete with authentic gas pumps. The nostalgia exhibit also includes a scene from the Corvette assembly plant as workers talk first hand about their career of building automobiles. The design and engineering area shows how the automobile design goes from sketches to clay models, and a cut-away chassis shows the inner backbone of a vehicle. The Hall of Fame exhibit provides detailed information on individuals such as engineers and designers and how their work and efforts have made a difference in the history of the Corvette. Various areas include interactive questions and quizzes to increase the visitor's knowledge of Corvettes. An actual crash test car and active video demonstrates the importance of wearing seat belts and encourages vehicle safety. 346996 0 Special Events Programs: 6,890 people participated in the special event programs in 2010. This included educational seminars, panel discussions and presentations from engineers, designers, and other experts in their fields. Some of the special programs include educational driver training as well. This program uses a significant number of volunteers also to assist in running the activities and seminars. This program served 6,890 people in 2010. 290128 0 Publishing: America's Sports Car is a bi-monthly publication designed to provide informative and educational information to those on our mailing list. This includes historical and technical articles, as well as updates on upcoming exhibits and activities at the Museum. Approximately 18,000 copies are printed for each issue, with additional copies distributed for special issues. 106,204 issues were printed and distributed in 2010. 2252987 0 Other: Other program services include website outreach, membership services, delivery programs, and attending shows around the country. 2252987 0 0 3977098 1 0 0 0 0 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 47 38 1 98 1 1 1 0 0 0 0 1 1 0 0 0 1 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X X Christy Thomas 2707817973 350 Corvette Dr Bowling Green KY 42101 Harlan Charles 0.7 X 0 0 0 Wil Cooksey 0.7 X 0 0 0 Johnny Downs 0.7 X 0 0 0 Tom Ferrara 0.7 X 0 0 0 Dana Forrester 0.7 X 0 0 0 Jimmy Goodnight 0.7 X 0 0 0 Buzz Marston 0.7 X 0 0 0 Jack Matukas 0.7 X 0 0 0 Abbie Miller 0.7 X 0 0 0 Bob Parcell 0.7 X 0 0 0 Ivan Schrodt 0.7 X 0 0 0 Dennis Smith 0.7 X 0 0 0 Joseph Thomas 0.7 X 0 0 0 Len Tucker 0.7 X 0 0 0 Bill Weir 0.7 X 0 0 0 Richard Yanko 0.07 X 0 0 0 Wendell Strode 50 X X X X 226541 0 26434 Christy Thomas 40 X X 109668 0 8703 336209 0 35137 2 0 1 0 Bridgeline Digital Inc PO Box 122339 Dallas TX 75312 Website development and software system install 103792 1 0 649232 0 0 218758 545235 3065 1413225 Tours and Admissions 712100 712930 712930 0 0 Delivery Program 611710 228288 228288 0 0 Library and Archives Resource Center 611710 248235 248235 0 0 America's Sports Car Publication 611710 15075 0 15075 0 Special Event Programs 611710 349157 349157 0 0 49033 0 49033 0 1602718 132081 0 0 132081 0 0 0 0 0 0 0 0 146968 0 54575 0 92393 0 92393 0 0 92393 0 0 0 4293520 2110403 2183117 0 0 2183117 3159698 1785516 1374182 0 0 1374182 0 6797716 1538610 64108 3781773 336209 146171 122436 67602 1938467 1378285 501156 59026 83941 77500 6441 0 195511 132489 63022 0 242 0 242 0 42324 0 42324 0 16209 4263 11946 148451 148451 0 0 369881 328307 29655 11919 46463 46463 0 0 384893 384893 0 0 71739 43280 23538 4921 408228 0 408228 0 874972 644907 230065 0 66669 66669 0 0 Special Events 221481 221481 0 0 Library and Archives 77241 77241 0 0 Brick Expense 27506 0 0 27506 Selling Expenses 179512 179512 0 0 Fees and Licenses 160729 1197 159532 0 123082 95989 21375 5718 5773750 3977098 1619960 176692 5123872 3527996 8200 7997 381611 415237 52772 136928 27042157 6749135 20896389 20293022 891929 2974433 257905 432299 27612678 27787912 672353 482720 91702 184097 9376795 8512162 443447 556586 10584297 9735565 X 14844517 15801304 183864 251043 2000000 2000000 17028381 18052347 27612678 27787912 1023966 0 X 0 1 1 X 0 X 6066561 1355959 1307818 1446753 1197532 11374623 4907218 5089496 4074606 4623364 4698308 23392992 68852 78647 77531 122896 47647 395573 11042631 6524102 5459955 6193013 5943487 35163188 35163188 159258 234793 159859 98520 279049 931479 47490 29727 64108 141325 159258 234793 207349 128247 343157 1072804 11201889 6758895 5667304 6321260 6286644 36235992 0.97039 0.97641 0.02961 0.02359 X 0 0 X X X 0 0 4189114 4189114 0 17605661 6749135 10856526 0 3085648 0 3085648 0 2161734 0 2161734 0 0 0 0 20293022 Accrued Interest Payable 25756 Interest Rate Swap Agreements 530830 556586 6797716 5773750 1023966 0 0 0 0 0 0 1023966 10748210 0 0 0 3950494 3950494 6797716 0 0 0 6797716 9724244 0 0 0 3950494 3950494 5773750 0 0 0 5773750 SchD_P03_S00_L01 Schedule D, Part III, Line 1 In conformity with the practice followed by many museums, several automobiles, styling mules, power plants and Corvette documents donated to the Museum are not included in the statements of financial position. The majority of the automobiles on display and in storage at the Museum are on loan from Corvette enthusiasts and are not included as part of the Museum collection. Management believes the Museum has the resources and technology to appropriately maintain these artifacts. SchD_P03_S00_L04 Schedule D, Part III, Line 4 The Museum's collection includes vehicles, clay models, historical memorabilia, magazines, periodicals, videos, sketches, documents, build sheets, and many other items that document and preserve the history of the Corvette. Many of these items are available for viewing, for research and for educational purposes. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d $1,785,516 in cost of goods sold was netted against gross sales of inventory. $2,110,403 in direct gaming expenses was netted against gross income from gaming activities. $54,575 in rental expenses was netted against gross rents. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d $1,785,516 in cost of goods sold was netted against gross sales of inventory. $2,110,403 in direct gaming expenses was netted against gross income from gaming activities. $54,575 in rental expenses was netted against gross rents. 4293520 107500 1878553 0 124350 1 0.9 4293520 107500 1878553 0 124350 2110403 2183117 KY 1 0 1 0 1 0 Christy Thomas 350 Corvette Dr Bowling Green KY 42101 0 Christy Thomas 109668 Oversees all accounting, finance and human resource functions of the Museum, in addition to assisting with management of all Museum operations. As part of these duties, this person is also responsible for gaming activities, overseeing gaming volunteers, and ensuring compliance with gaming regulations. X 0 0 X 1 1 X X X X X 0 0 0 0 0 1 0 0 0 Wendell Strode 149508 0 35767 0 41266 0 0 0 26434 0 252975 0 246902 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The Executive Director's spouse occasionally travels on business trips to assist, primarily by providing volunteer services at shows. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 A three-person committee of the board operates as the compensation committee. They evaluate the compensation package for the executive director, compare to other museums and non-profits, review available survey information, and approve any salary adjustments. SchJ_P01_S00_L06 Schedule J, Part I, Line 6 The Executive Director receives an annual bonus based on the organization's net earnings exceeding the approved budget. However, this bonus cannot exceed a cap of 25% of his salary. The bonus calculation is verified by the museum's independent auditors and approved by the compensation committee. County of Edmonson KY Industrial Building Revenue 610898669 281144AA3 2004-02-01 5190000 Refunding and refinancing 0 0 0 County of Edmonson KY Industrial Building Revenue 610898869 2008-08-15 7500000 Construct and equip building 0 0 0 5190000 0 5190000 0 0 0 0 0 1 1 1 0 0 7500000 0 0 0 7500000 0 2009 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 0 See Part II X 3 0 See Part II X 5 0 See Part II 3 0 1 0 SchM_P01_S00_L33 Schedule M, Part I, Line 33 A zero amount was reported on Form 990, Part VIII, Statement of Revenue, line 1g, because the Museum did not capitalize its collections, as allowed under SFAS 116. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The full Form 990 and all required schedules, were emailed to the full Board of Directors prior to being filed. The full board reviewed it and provided feedback if so desired. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Conflict of interest forms are completed annually and the full board approves transactions as necessary. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 A three-person committee of the board operates as the compensation committee for the Museum. They evaluate the compensation comparatives of other museums and non profits, and review compensation benchmark information to determine a reasonable compensation based on duties and performance. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The Museum's governing documents and financial statements are available on www.guidestar.org. These items, along with the Museum's conflict of interest policy are also provided to anyone upon request. Financial information is also shared annually at the Museum's open membership meeting in September of each year.