THE BALTIMORE CHILDREN'S MUSEUM INC

EIN: 521806933 501(c)(3) Arts, Culture & Humanities

BALTIMORE, MD

Total Revenue
$9,690,458
Total Expenses
$6,207,071
Total Assets
$26,205,768
Net Assets
$23,496,731
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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MD
Principal Officer
CARTER POLAKOFF
Phone
4107278120
Tax Period
2024-07-01 to 2025-06-30

THE BALTIMORE CHILDREN'S MUSEUM INC, founded in 1993, is a community nonprofit in the Arts, Culture & Humanities sector that reported $9.7M in total revenue in fiscal year 2024. Revenue surged 45% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 36% operating margin.

Mission

PORT DISCOVERY CHILDREN'S MUSEUM'S MISSION IS TO CONNECT PURPOSEFUL PLAY AND LEARNING WITHIN ITS WALLS AND BEYOND.

Program Service Accomplishments

Program 1
Expenses: $4,887,539 Revenue: $2,956,370

LOCATED IN BALTIMORE'S HISTORIC FISH MARKET BUILDING IN THE INNER HARBOR, PORT DISCOVERY IS AN 80,000 SQUARE-FOOT CHILDREN'S MUSEUM OFFERING THREE FLOORS OF INTERACTIVE EXHIBITS, LEARNING SPACES, AND...

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LOCATED IN BALTIMORE'S HISTORIC FISH MARKET BUILDING IN THE INNER HARBOR, PORT DISCOVERY IS AN 80,000 SQUARE-FOOT CHILDREN'S MUSEUM OFFERING THREE FLOORS OF INTERACTIVE EXHIBITS, LEARNING SPACES, AND TRAVELING EXHIBITIONS. SINCE OPENING, WE HAVE SERVED OVER 5 MILLION VISITORS AS ONE OF THE MID-ATLANTIC REGION'S LEADING CHILDREN'S MUSEUMS. PORT DISCOVERY'S EXHIBITS, EXPERIENCES, AND PROGRAMS ENCOURAGE CHILDREN TO USE THEIR IMAGINATIONS, EXPLORE HOW THINGS WORK, BUILD CONFIDENCE, AND LEARN AND PRACTICE SOCIAL AND EMOTIONAL SKILLS. WE DO THIS WORK IN THE FOLLOWING BROAD CATEGORIES:(SEE SCHEDULE O FOR CONTINUATION)PROVIDING ACCESS FOR ALL: PORT DISCOVERY OFFERS FREE AND REDUCED ADMISSION TO MARYLAND SCHOOL STUDENTS, LOW-INCOME FAMILIES, AND MILITARY FAMILIES THROUGH PROGRAMS SUCH AS PLAYMAKERS, COMMUNITY DAYS, AND SALUTE THE TROOPS. ADDITIONALLY, ACCESS INCLUDES TRAINING STAFF AND IMPROVING FACILITY CAPACITY TO SERVE FAMILIES WITH SPECIFIC DISABILITIES AND EDUCATIONAL NEEDS.INNOVATIVE EXHIBITS: PORT DISCOVERY'S EXHIBITS AND EXPERIENCES ARE DESIGNED FOR HANDS-ON EXPLORATION. FROM TINY'S DINER AND WONDERS OF WATER TO OUR SIGNATURE CORE EXPERIENCE - THE S.S. FRIEND SHIP! ON THIS IMMERSIVE WALK-THROUGH CARGO SHIP, CHILDREN CAN LOAD GOODS, SIT IN THE CAPTAIN'S SEAT, ACTIVATE THE ENGINES, WORK A GANTRY CRANE, AND READ ABOUT THE PORT OF BALTIMORE THROUGH EDUCATIONAL TEXT AND MARKERS. AS A SITE DEVOTED TO SERVING CHILDREN AND FAMILIES, PORT DISCOVERY IS OFTEN THE FIRST TIME THAT OUR YOUNGEST LEARNERS EXPERIENCE LOCAL HISTORY AND BEGIN LEARNING ABOUT BALTIMORE'S NOTABLE HERITAGE.EDUCATIONAL PROGRAMS: THIS PROGRAMMING INCLUDES ARTS- AND SCIENCE-BASED WORKSHOPS, NATURE-BASED LEARNING OPPORTUNITIES, ENGAGEMENT THROUGH THE ARTS, AND VIRTUAL PROGRAMS THAT INVITE CHILDREN INTO A RANGE OF SUBJECTS FROM MARYLAND'S HISTORIC LIGHTHOUSES TO THE LIFE OF A BUMBLEBEE. ON AVERAGE, THE MUSEUM SERVES OVER 30,000 STUDENTS ANNUALLY, WITH 40% OF THOSE REPRESENTING TITLE I SCHOOLS.MULTI GENERATIONS AT PLAY INITIATIVE: THIS SUITE OF PROGRAMS PROVIDES RESOURCES TO THOSE WHO HOLD THE MOST IMPORTANT ROLE IN THE HEALTHY DEVELOPMENT AND WELL-BEING OF MARYLAND'S YOUNG CHILDREN: PARENTS, CAREGIVERS, AND EDUCATORS. PROGRAMMING INCLUDES FATHERS AT PLAY AND PARENTS AT PLAY AND GRANDPARENTS AT PLAY, ALL OF WHICH EMPOWER GUARDIANS THROUGH PURPOSEFUL PLAY STRATEGIES AND PEER LEARNING; AND PROFESSIONALS AT PLAY, WHICH SUPPORTS OUR EARLY CHILDHOOD WORKFORCE ACROSS VARIOUS SETTINGS THROUGHOUT THE STATE.THE MUSEUM RECEIVED DONATED LOBBYING SERVICES VALUED AT $18,000, DONATED LEGAL SERVICES VALUED AT $191,979, AND RENT VALUED AT $48,000. OTHER INDIVIDUALS, WHOSE SERVICES WERE NOT VALUED BECAUSE THEY COULD NOT BE MEASURED OBJECTIVELY, VOLUNTEERED APPROXIMATELY 1,200 HOURS OF THEIR TIME.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,518,862
Program Service Revenue $2,956,370
Investment Income $172,696
Other Revenue $42,530
TOTAL REVENUE $9,690,458

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,331,127
Fundraising Expenses $440,132
Program Expenses $4,887,539
Other Expenses $2,875,944
TOTAL EXPENSES $6,207,071

Year-over-Year Comparison

2024 2023 Change
Revenue $9,690,458 $6,705,395 +0.4%
Expenses $6,207,071 $6,244,803 0.0%
Net Income $3,483,387 $460,592 +6.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
31
Independent Members
31
Employees
91
Volunteers
20

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$556,421
Total Directors
31
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DENNIS F RASMUSSEN CHAIRMAN 3.00
Officer Director
$0 $0 $0
MONICA BRANDES VICE CHAIR 2.00
Officer Director
$0 $0 $0
MARK POLLAK SECRETARY 2.00
Officer Director
$0 $0 $0
DANA HENSON VICE CHAIR 0.50
Officer Director
$0 $0 $0
ALEXANDER YAFFE DIRECTOR 0.50
Director
$0 $0 $0
RANDY GUTTMAN DIRECTOR 0.50
Director
$0 $0 $0
BRET SCREIBER DIRECTOR 0.50
Director
$0 $0 $0
ASHLEY HATTER DIRECTOR 0.50
Director
$0 $0 $0
ANNIE BROWN DIRECTOR 0.50
Director
$0 $0 $0
TERI GUARNACCIA DIRECTOR 0.50
Director
$0 $0 $0
MELANIE PERREAULT DIRECTOR 0.50
Director
$0 $0 $0
JULIE MILITELLO DIRECTOR 0.50
Director
$0 $0 $0
PATRICIA HOGE DIRECTOR 0.50
Director
$0 $0 $0
MARY ZOLET DIRECTOR 2.00
Director
$0 $0 $0
SHANTELL ROBERTS DIRECTOR 0.50
Director
$0 $0 $0
HOLLY CARNEVALE DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM PALMER DIRECTOR 0.50
Director
$0 $0 $0
DOMINIQUE KELLY DIRECTOR 0.50
Director
$0 $0 $0
ALEXIS THOMPSON DIRECTOR 0.50
Director
$0 $0 $0
KAYLEIGH KEILTY DIRECTOR 0.50
Director
$0 $0 $0
ANTHONY V IMBRAGUGLIO DIRECTOR 0.50
Director
$0 $0 $0
STEVEN A SINGH DIRECTOR 0.50
Director
$0 $0 $0
CHAD LANE DIRECTOR 0.50
Director
$0 $0 $0
ERNESTINE CHAMBERS DIRECTOR 0.50
Director
$0 $0 $0
JEFFREY GRAHAM DIRECTOR 0.50
Director
$0 $0 $0
CLAUDIA JOLIN DIRECTOR 0.50
Director
$0 $0 $0
TODD GUSTIN DIRECTOR 0.50
Director
$0 $0 $0
BRICE PHILLIPS DIRECTOR 0.50
Director
$0 $0 $0
ANGELA CELESTIN DIRECTOR 0.50
Director
$0 $0 $0
STEPHEN CANARAS DIRECTOR 0.50
Director
$0 $0 $0
JOE SWEENEY DIRECTOR 0.50
Director
$0 $0 $0
RACHEL DEMMA VP OF EDUCATION AND LEARNI 40.00
Officer
$124,373 $7,760 $132,133
CARTER POLAKOFF PRESIDENT & CEO 40.00
Officer
$158,255 $28,745 $187,000
KELLI COFFMAN SENIOR VP OF MUSEUM OPERATIONS 40.00
Officer
$107,929 $8,560 $116,489
SONJA CENDAK VP DEVELOPMENT & MARKETING 40.00
Officer
$95,232 $25,567 $120,799
BONNIE NOLAN FORMER CFO 40.00
$59,696 $11,864 $71,560
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $9,690,458 $6,207,071 $26,205,768 $3,483,387
2024 $6,705,395 $6,244,803 $22,630,188 $460,592
2023 $7,174,469 $5,846,894 $21,082,647 $1,327,575
2022 $4,938,082 $5,277,772 $18,998,557 $-339,690
2021 $5,154,726 $4,433,572 $20,197,093 $721,154
2020 $4,207,763 $5,381,470 $19,516,350 $-1,173,707
2019 $9,375,393 $4,858,921 $22,025,070 $4,516,472
2018 $8,051,330 $4,819,160 $17,533,486 $3,232,170
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