Nonprofit · EIN 62-1828260
COTTON MUSEUM INC
Tax-exempt · MEMPHIS, TN 38103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $241,507 | $179,128 | $62,379 | $934,903 | $200,259 | $734,644 |
| December 31, 2023 | 990 | $129,496 | $169,859 | -$40,363 | $867,740 | $195,475 | $672,265 |
| December 31, 2021 | 990 | $167,514 | $104,631 | $62,883 | $1,004,546 | $183,422 | $821,124 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $171,134
- of which government grants
- $41,934
- Program service revenue
- $47,717
- Investment income
- $0
- Net income from fundraising events
- $25,281
- Net income from sales of inventory
- -$2,625
- Other revenue
- $22,656
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $58,533
- Salaries, compensation and benefits (total)
- $62,910
- Professional fundraising fees
- $0
- Accounting fees
- $9,200
- Occupancy
- $33,762
- Depreciation
- $37,906
- Program services (functional)
- $137,964
- Management and general (functional)
- $34,873
- Fundraising (functional)
- $6,291
Balance sheet and other
- Total assets, start of year
- $867,740
- Total assets, end of year
- $934,903
- Total liabilities, end of year
- $200,259
- Net assets, end of year
- $734,644
- Land, buildings and equipment
- $556,390
- Net assets without donor restrictions
- $715,141
- Net assets with donor restrictions
- $19,503
- Gross receipts
- $261,965
- Employees
- 6
- Year formed
- 2000
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CALVIN TURLEY | PRESIDENT Trustee or director | 2 | $0 |
| CHIP CRAIN | MEMBER Trustee or director | – | $0 |
| KELLIE PRESCOTT | MEMBER Trustee or director | – | $0 |
| SARAH HAIZLIP | MEMBER Trustee or director | – | $0 |
| S W FARSNWORTH III | MEMBER Trustee or director | – | $0 |
| HOPE BROOKS | MEMBER Trustee or director | – | $0 |
| MCCLAIN GORDON | MEMBER Trustee or director | – | $0 |
| WANDA SHEA | MEMBER Trustee or director | – | $0 |
| DERITA WILLIAMS | MEMBER Trustee or director | – | $0 |
| LONDON LAMAR | MEMBER Trustee or director | – | $0 |
| THOMAS MILLER | MEMBER Trustee or director | – | $0 |
| TANJA MITCHELL | MEMBER Trustee or director | – | $0 |
| WILL CARTER | TREASURER Officer | 2 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TREY JONES | TREASURER Trustee or director, Officer | 1 | $0 |
| CALVIN TURLEY | MEMBER Trustee or director | 1 | $0 |
| CHIP CRAIN | MEMBER Trustee or director | – | $0 |
| KELLIE PRESCOTT | MEMBER Trustee or director | – | $0 |
| SARAH HAIZLIP | MEMBER Trustee or director | – | $0 |
| S W FARSNWORTH III | MEMBER Trustee or director | – | $0 |
| HOPE BROOKS | MEMBER Trustee or director | – | $0 |
| MCCLAIN GORDON | MEMBER Trustee or director | – | $0 |
| WANDA SHEA | MEMBER Trustee or director | – | $0 |
| DERITA WILLIAMS | MEMBER Trustee or director | – | $0 |
| LONDON LAMAR | MEMBER Trustee or director | – | $0 |
| THOMAS MILLER | MEMBER Trustee or director | – | $0 |
| TANJA MITCHELL | MEMBER Trustee or director | – | $0 |
| MURRY MCCLINTOCK | PRESIDENT Officer | 2 | $0 |
990 for the year ended December 31, 2021: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chip Crain | Member Trustee or director | 0 | $0 |
| McClain Gordon | Member Trustee or director | 0 | $0 |
| Sarah Haizlip | Member Trustee or director | 0 | $0 |
| Murry McClintock | Member Trustee or director | 0 | $0 |
| Kellie Prescott | Member Trustee or director | 0 | $0 |
| Calvin Turley | Member Trustee or director | 1 | $0 |
| Chalmers Valentine | Member Trustee or director | 0 | $0 |
| S W Far4nsworth III | Member Trustee or director | 0 | $0 |
| Hope Brooks | Member Trustee or director | 0 | $0 |
| Ross Webster | President Officer | 1 | $0 |
| Toni Sabella Barnes | Vice President Officer | 1 | $0 |
| Trey Jones | Treasurer Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 65 UNION AVE, MEMPHIS, TN 38103-5196
- In care of
- % MEMPHIS COTTON EXCHANGE
- Principal officer (990 for 2024)
- WILL CARTER, 65 UNION AVE, MEMPHIS, TN 38103
- Signed the 990
- WILL CARTER, TREASURER
- Phone
- (901) 531-7826
- Website
- WWW.MEMPHISCOTTONMUSEUM.ORG
- Return prepared by
- LENAHAN SMITH & BARGIACHI PC
Mission
PRESERVATON OF THE HISTORY, HERITAGE, AND CULTURE OF THE COTTON INDUSTRY IN GENERAL AND ON THE COTTON INDUSTRY'S IMPACT ON THE HISTORY, HERITAGE, AND CULTURE OF MEMPHIS, TENNESSEE. ITS PURPOSE IS TO HONOR AND PRESERVE THE HISTORICAL RECORD OF THE INDIVIDUALS, BUSINESSES, AND EVENTS THAT HAVE AFFECTED THE COTTON INDUSTRY BY PROVIDING A HISTORICALLY ACURATE AND EDUCATIONAL MUSEUM IN MEMPHIS, TENNESSEE.
Program accomplishments
- PRESERVATON OF THE HISTORY, HERITAGE, AND CULTURE OF THE COTTON INDUSTRY IN GENERAL AND ON THE COTTON INDUSTRY'S IMPACT ON THE HISTORY, HERITAGE, AND CULTURE OF MEMPHIS, TENNESSEE. ITS PURPOSE IS TO HONOR AND PRESERVE THE HISTORICAL RECORD OF THE INDIVIDUALS, BUSINESSES, AND EVENTS THAT HAVE AFFECTED THE COTTON INDUSTRY BY PROVIDING A HISTORICALLY ACURATE AND EDUCATIONAL MUSEUM IN MEMPHIS, TENNESSEE.Expenses $100,058 · revenue $47,717
- PRESERVATON OF THE HISTORY, HERITAGE, AND CULTURE OF THE COTTON INDUSTRY IN GENERAL AND ON THE COTTON INDUSTRY'S IMPACT ON THE HISTORY, HERITAGE, AND CULTURE OF MEMPHIS, TENNESSEE. ITS PURPOSE IS TO HONOR AND PRESERVE THE HISTORICAL RECORD OF THE INDIVIDUALS, BUSINESSES, AND EVENTS THAT HAVE AFFECTED THE COTTON INDUSTRY BY PROVIDING A HISTORICALLY ACURATE AND EDUCATIONAL MUSEUM IN MEMPHIS, TENNESSEE.Expenses $37,906
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 62-1828260
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2000
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A50)
- Assets (IRS master file)
- $934,903
- Income (IRS master file)
- $261,965
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $241,507 | $179,128 | $934,903 | XML |
| 990 | December 2023 | $129,496 | $169,859 | $867,740 | XML |
| 990 | December 2022 | $118,457 | $194,149 | $921,928 | IRS |
| 990 | December 2021 | $167,514 | $104,631 | $1,004,546 | XML |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 62-1828260).
Questions about COTTON MUSEUM INC
- What is the EIN of COTTON MUSEUM INC?
- The employer identification number (EIN) of COTTON MUSEUM INC is 62-1828260.
- Is COTTON MUSEUM INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to COTTON MUSEUM INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COTTON MUSEUM INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COTTON MUSEUM INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COTTON MUSEUM INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of COTTON MUSEUM INC?
- The 990 for the year ended December 31, 2024 names WILL CARTER.
- Who are the officers and directors of COTTON MUSEUM INC?
- The 990 for the year ended December 31, 2024 lists 13 people; 0 received compensation from the organization.
- How much revenue does COTTON MUSEUM INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $241,507, expenses of $179,128 and total assets of $934,903 at year end.
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All nonprofits in MEMPHIS · Tennessee · Arts, culture and humanities