2024-11-15T11:29:53-06:00 2023-12-31 440160260 FORVIS MAZARS LLP 501 OFFICE CENTER DRIVE SUITE 300 FORT WASHINGTON PA 190343201 990 2023-01-01 471918005 AUDRAIN AUTOMOBILE MUSEUM INC AUDR 6469376901 CO JOHN T BOXER 222 BELLEVUE AVE NEWPORT RI 02840 JOHN T BOXER DIR., SECRETARY 6469376901 2024-11-15 1 0 KIRK J ELDRIDGE P00055220 2152591000 2023 2024-10-15 13:58:12Z JOHN T BOXER 222 BELLEVUE AVENUE NEWPORT RI 02840 7409845 0 X AUDRAINAUTOMUSEUM.ORG X 2014 DE TO ASSIST IN THE CONDUCT OF CHARITABLE AND EDUCATIONAL PROMOTION OF PUBLIC INTEREST IN APPRECIATION OF AND PARTICIPATION IN CAR COLLECTION THROUGH CREATING AND SUPPORTING ACTIVITIES REGARDING A PUBLIC MUSEUM DEDICATED TO CLASSIC, COLLECTIBLE AND MODERN CARS. 7 1 14 200 60474 59474 2773387 3814922 302749 340032 19 1 -367827 -1527149 2708328 2627806 95000 105000 0 0 401322 425090 0 0 463804 2885187 1293148 3381509 1823238 -673181 804568 3738788 3817985 3202377 2651030 536411 1166955 TO CONDUCT CHARITABLE AND EDUCATIONAL ACTIVITIES TO PROMOTE AND ADVANCE THE PUBLIC'S INTEREST IN A PUBLIC MUSEUM TO PRESERVE AND PRESENT AUTOMOTIVE HISTORY. 0 0 602380 105000 357491 THE ORGANIZATION OPERATES A MUSEUM DEVOTED TO THE APPRECIATION OF HISTORICAL, CLASSICAL, COLLECTIBLE AND MODERN CARS. THE ORGANIZATION AIMS THAT BY TELLING THE STORIES OF THE AUTOMOBILES, IT TELLS THE STORY OF OUR CULTURE, COUNTRY, FAMILIES AND OURSELVES. THE ORGANIZATION ANNUALLY CURATES FOUR (4) EXHIBITS AND IN 2023 WELCOMED 30,000 + VISITORS, INCLUDING SCHOOL AND SENIOR GROUPS, CAR CLUBS AND COLLECTORS. THE ORGANIZATION, THROUGH ITS WHOLLY OWNED SUBSIDIARY, AUDRAIN CONCOURS FOUNDATION, LLC ANNUALLY PRODUCES AND HOSTS THE "AUDRAIN NEWPORT CONCOURS AND MOTOR WEEK," A CAR CENTRIC EXPERIENCE IN NEWPORT RHODE ISLAND. THIS 4 DAY EVENT INCLUDES A FUNDRAISING GALA, TOUR D' ELEGANCE, CONCOURS D' ELEGANCE AND EDUCATIONAL SEMINARS ON AUTOMOBILE RELATED TOPICS THAT CELEBRATE AND PROMOTE THE PUBLIC'S INTEREST IN THE PRESERVATION AND PRESENTATION OF AUTOMOTIVE HISTORY. 602380 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 81 0 1 14 1 1 1 0 0 0 0 1 0 0 0 0 0 1 0 0 0 X 7 1 1 0 0 0 1 1 0 1 0 0 0 0 1 1 1 1 1 0 0 0 RI X X JOHN T BOXER 6469376901 222 BELLEVUE AVENUE NEWPORT RI 02840 NICHOLAS S SCHORSCH DIRECTOR, PRESIDENT 5.00 X X 0 0 0 JOHN T BOXER DIRECTOR, SECRETARY 10.00 X X 0 0 0 WILLIAM M KAHANE DIRECTOR 2.00 X 0 0 0 SHELLEY D SCHORSCH DIRECTOR 2.00 X 0 0 0 DAVID DE MUZIO EXECUTIVE DIRECTOR 40.00 20.00 X 98605 103960 0 EDWARD M WEIL JR DIRECTOR 5.00 X 0 0 0 NICHOLAS S SCHORSCH JR DIRECTOR 5.00 X 0 0 0 M BENJAMIN MERCER TREASURER 5.00 X 0 0 0 98605 103960 0 0 0 1 0 0 226185 1135915 2452822 3814922 DAILY ADMISSION FEES 900099 340032 340032 340032 1 1 16950 0 16950 16950 16950 3097906 1135915 4719938 -1622032 -1622032 122575 62101 60474 60474 VIDEO REVENUE 16570 16570 MISCELLANEOUS INCOME 889 889 17459 2627806 357491 60474 -1605081 105000 105000 389504 116851 77901 194752 35586 10676 7117 17793 24876 8209 8458 8209 113645 37503 38639 37503 39280 39280 259650 129825 129825 208040 208040 84103 27754 28595 27754 26684 26684 8304 8304 45832 22916 22916 GENERAL OPERATIONS 112693 112693 PROPERTY TAXES 78000 78000 UTILITIES 69879 23060 23759 23060 STORAGE 63336 20901 21534 20901 158826 99685 55134 4007 1823238 602380 757054 463804 45820 30147 600986 75101 149832 148671 72134 31544 42470 19240 31535 23230 2838481 3509292 3738788 3817985 1058591 1460515 2143786 1190515 3202377 2651030 X 331811 722894 204600 444061 536411 1166955 3738788 3817985 804568 -174024 0 X 0 0 0 X 6792699 2983616 3463197 1423663 3814922 18478097 6792699 2983616 3463197 1423663 3814922 18478097 18478097 16675 300 17 19 1 17012 36127 23510 29394 5932 16570 111533 9735 23308 26366 31064 889 91362 18698004 0.98820 0.98610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3506555 X X X 0 5000 5000 100000 95000 5000 146544 146544 146544 146544 146544 146544 0 0 42470 19240 23230 23230 2015 AUTO - 1941 VANDERBILT CADILLAC 15000 2016 AUTO - 1925 FORD MODEL T 10500 2017 AUTO - 1951 FERRARI 212 COUPE 1595000 2017 AUTO - 1935 CHRYSLER C-2 COUPE 165000 2014 AUTO - 1957 MORGAN 50000 ROBERT LLOYD OIL ON CANVAS AD PROOFS 50000 2017 AUTO - 1978 ROLLS-ROYCE SILVER SHADOW 6000 1930 CHARLES SYKES SCULPTURE 7500 1945 CHARLES SYKES SCULPTURE 3500 1950 DUKE KAHANAMOKU SURGER HOOD ORNAMENT 800 1960 DUKE KAHANAMOKU SURGER HOOD ORNAMENT 200 923 FRANKLIN MODEL 10B 21000 2008 RANSOM SERPENT MOTORCYCLE 175000 1969 DODGE CORONET CONVERTABLE 27000 2019 NMOTO NOSTALGIA BMW R NINE T MOTORCYCLE 49500 PETER SACCOCCIO: FULL SET AUTO QUARTERLY 1000 DUNE BUGGY 15000 ACCESSION #AAM21 - HARLEY DAVIDSON 8500 ACCESSION #AAM21 - HARLEY DAVIDSON 5000 HEALEY COLLECTION 36606 FORD PINTO - 1972 17002 VOLKSWAGEN BUG - 1969 3500 HONDA GL 1200 - 1987 1410 ALFA ROMEO GIULIETTA SPIDER - 1957 5000 ALFA ROMEO GIULIETTA SPIDER - 1958 5000 ALFA ROMEO GIULIETTA SPIDER - 1958 5000 FORD SHELBY GT500KR - 2009 65000 JEEP M-38 - 1951 32300 CADILLAC SERIES 61 SEDAN - 1941 35000 ECCLES CARAVAN WAGON - 1920 125000 LOFTNESS AUTOMOBILIA DOCUMENT ARCHIVE 105000 BOOK AND MANUSCRIPT COLLECTION 20000 1906 AUTOMOBILE MAP OF RI AND MA.SOUTH 470 BMW 850I - 1991 8000 BUICK RIVIERA - 1998 8500 INDIAN SCOUT MOTORCYCLE - 1943 42500 MINI COOPER - 1995 18000 BUICK LESABRE - 1972 7500 AUSTIN AMERICA - 1970 10000 JAGUAR S-TYPE - 2000 3100 CHEVROLET CLOCK NEON SIGN (GM HERITAGE SIGN) 7650 VERTICAL CADILLAC DEALER 7650 PONTIAC DEALER NEON SIGN (GM HERITAGE SIGN) 5150 OLDSMOBILE DEALER NEON SIGN (GM HERITAGE SIGN) 5150 GM TRUCKS DEALER NEON SIGN (GM HERITAGE SIGN) 5150 CHEVROLET (KEY TAG) (OK USED CAR) 15000 CHEVROLET (KEY TAG) (OK USED TRUCK) 15000 TEXACO MOTOR OIL NEON SIGN (BOB MCDORMAN SIGN) (ORIGINAL) 15000 TEXACO MOTOR OIL NEON SIGN (42" DIAMETER) 1375 BOOKS AND AUTOMOBILIA 1968 OTHER 36149 CADILLAC DERHAM BODIED SERIES 75 LIMOUSINE 50000 CROSLEY SUPER SPORT 17500 BUICK ROADMASTER 18000 TRIUMPH BONNEVILLE 8000 FORD MODEL A 17500 CHRYSLER NEWPORTER 32000 PACKARD CARIBBEAN 93550 FORD CRESTLINE SKYLINER 20000 PORSCHE 912 COUPE 100000 JAGUAR MK9 SEDAN 25000 LULU, CUSTOM OPEN WHEEL CAR 200000 TIM LAYZELL PAINTING, 2023 PEBBLE BEACH 50000 TOM NEEL, DIORAMA, PROST, MANSELL AND THE FERRARI 2500 MICHAEL SAVAGE, PRINT 250 STIRLING MOSS, BROCHURE 125 BOOKS, GROUP OF SIX AUTOMOBILE 162 RANDY OWENS, POSTER 75 3509292 DUE TO ARC (RENT) 462338 UNEARNED REVENUE 103448 ACCRUED EXPENSES 124729 ECONOMIC INJURY DISASTER LOAN 500000 1190515 2627806 0 2627806 0 2627806 1823238 0 1823238 0 1823238 PART III, LINE 4: THE AUDRAIN AUTOMOBILE MUSEUM, INC. OPERATES A DAILY FEE MUSEUM DEVOTED TO EDUCATING AND APPRECIATING HISTORICAL, CLASSICAL, AND COLLECTIBLE CARS AND MOTORCYCLES. THE MUSEUM AIMS THAT BY TELLING STORIES OF THE AUTOMOBILE, IT TELLS THE STORY OF DESIGN, ENGINEERING, CULTURE, AND FAMILY. THE MUSEUM IDENTIFIES, ACQUIRES AND DISPLAYS AUTOMOBILES, MOTORCYCLES, BOOKS, MANUSCRIPTS, MAGAZINES, DESIGN SKETCHES, AND RELATED EPHEMERA THAT RELATE TO THE HISTORY AND DESIGN OF THE AUTOMBILE THROUGH THE AGES. PART V, LINE 4: THE FUND IS A BOARD-DESIGNATED ENDOWMENT FOR THE SOLE PURPOSE OF IDENTIFYING, ACQUIRING, RESTORING, AND PRESERVING AUTOMOBILES AND AUTOMOBILIA. X 0 GALA EVENT 1204050 1204050 758206 CONCOURS EVENT 2983107 1135915 1847192 3961732 11 46664 46664 4233821 1135915 3097906 4719938 4719938 -1622032 0 EDWARD KING HOUSE 35 KING STREET NEWPORT RI 02840 050312277 30000 0 DONATION TO SUPPORT ADULT LEARNING, INDEPENDENT LIVING AND AN ENRICHED QUALITY OF LIFE. DR MARTIN LUTHER KING JR COMMUNITY CENTER 20 DR MARCUS WHEATLAND BLVD NEWPORT RI 02840 050271882 45000 0 DONATION TO HELP SUPPORT CENTRAL SERVICES PROVIDED FOR AT-RISK INDIVIDUALS, FAMILIES, AND SENIORS. BOYS AND GIRLS CLUB OF NEWPORT COUNTY 95 CHURCH STREET NEWPORT RI 02840 050281572 30000 0 DONATION TO HELP SUPPORT THE ORGANIZATION AND CLUBHOUSE. THE CLUBHOUSE HAS BEEN THE PLACE WHERE NUMEROUS KIDS AND TEENS LEARNED HOW TO SWIM, RECEIVED MUCH NEEDED HOMEWORK ASSISTANCE, PLAYED BASKETBALL IN THE FLO HARVEY BASKETBALL LEAGUE AND MAKE LIFE-LONG FRIENDSHIPS. 2 0 0 0 0 0 0 0 0 0 DAVID DE MUZIO EXECUTIVE DIRECTOR 98605 103960 0 0 0 0 0 0 0 0 98605 103960 0 0 AR CAPITAL LLC SEE PART V 208040 SEE PART V CONTINUED BELOW 0 1899 LLC SEE PART V 540732 SEE PART V CONTINUED BELOW 0 AUDRAIN PARK PLACE SEE PART V 62951 SEE PART V CONTINUED BELOW 0 AUDRAIN MOTORSPORT SEE PART V 258591 SEE PART V CONTINUED BELOW 0 SCHEDULE L, PART IV (AR CAPITAL, LLC) 1 (B) - ENTITY IS WHOLLY OWNED BY BELLEVUE CAPITAL PARTNERS, LLC, A DELAWARE LIMITED LIABILITY COMPANY. BELLEVUE CAPITAL PARTNERS, INC. IS MORE THAN 65% COLLECTIVELY OWNED BY (1) NICHOLAS S. SCHORSCH, DIRECTOR, (2) SHELLEY D. SCHORSCH, DIRECTOR AND (3) EDWARD M. WEIL, JR., DIRECTOR.2 (B) - 1899, LLC, A DELAWARE LIMITED LIABILITY COMPANY, IS OWNED 51% BY THAMES CAPITAL VENTURES, LLC, A DELAWARE LIMITED LIABILITY COMPANY, AND 49% BY AQUIDNECK HOLDINGS, LLC, A DELAWARE LIMITED LIABILITY COMPANY, NICHOLAS S. SCHORSCH, DIRECTOR, OWNED 100% OF BOTH THAMES CAPITAL VENTURES, LLC AND AQUIDNECK HOLDINGS LLC.3 (B) - AUDRAIN PARK PLACE, LLC, A DELAWARE LIMITED LIABILITY COMPANY, IS BENEFICIALLY OWNED BY NICHOLAS S. SCHORSCH, DIRECTOR (90%) AND EDWARD M. WEIL, JR., DIRECTOR (10%).4 (B) - AUDRAIN MORTORSPORT, LLC A DELAWARE LIMITED LIABILITY COMPANY, IS BENEFICIALLY OWNED BY NICHOLAS S. SCHORSCH, DIRECTOR (90%) AND EDWARD M. WEIL, JR., DIRECTOR (10%). SCHEDULE L, PART IV (AR CAPITAL, LLC) 1 (D) - RENT - $208,040.2 (D) - EVENT CATERING CHARGES - $540,732.3 (D) - VEHICLE GARAGE STORAGE FEES - $62,951,4 (D) - MARKETING, ADVERTISING AND BRANDING FEES - $258,591. X 1 50000 FAIR MARKET VALUE X 612 FAIR MARKET VALUE X 11 581550 FAIR MARKET VALUE X IN-KIND CONTRIBUTIONS 13 124600 FAIR MARKET VALUE X DIORAMA 1 2500 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 LINE 2 EXPLANATION - NICHOLAS SCHORSCH AND SHELLEY SCHORSCH ARE SPOUSES. NICHOLAS S. SCHORSCH, JR. IS THE SON OF SHELLEY AND NICHOLAS SCHORSCH. NICHOLAS S. SCHORSCH, WILLIAM M. KAHANE AND EDWARD M. WEIL, JR. ARE BUSINESS PARTNERS IN BELLEVUE CAPITAL PARTNERS, LLC ("BCP"). EDWARD M. WEIL, JR. IS ALSO THE CEO OF AR GLOBAL INVESTMENTS, LLC. JOHN T. BOXER IS EMPLOYED AS GENERAL COUNSEL AND CHIEF OPERATING OFFICER OF METROPOLITAN WEALTH MANAGEMENT, LLC WHICH IS OWNED BY BCP. M. BENJAMIN MERCER IS EMPLOYED AS CAR STORAGE FACILITIES DIRECTOR OF OPERATIONS OF ARC REAL ESTATE PARTNERS, LLC, OF WHICH NICHOLAS S. SCHORSCH, SHELLEY D. SCHORSCH, WILLIAM M. KAHANE AND EDWARD M. WEIL, JR. ARE PARTNERS. DAVID DE MUZIO IS THE EXECUTIVE DIRECTOR OF THE MOUNT PLEASANT FOUNDATION, AN ORGANIZATION EXEMPT FROM TAX UNDER IRC SECTION 501(C)(3) AND AN EMPLOYEE OF ARC REAL ESTATE PARTNERS, LLC. NICHOLAS S. SCHORSCH AND SHELLEY D. SCHORSCH ARE MEMBERS OF THE BOARD OF DIRECTORS OF THE MOUNT PLEASANT FOUNDATION. FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - AUDRAIN AUTOMOBILE MUSEUM, INC. IS A DELAWARE NON-PROFIT CORPORATION OF WHICH NICHOLAS SCHORSCH IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - NICHOLAS SCHORSCH, AS SOLE MEMBER OF AUDRAIN AUTOMOBILE MUSEUM, INC., HAS THE RIGHT TO ELECT THE DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B LINE 8 EXPLANATION - QUESTION 8B - N/A - NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - THE FORM 990 WAS REVIEWED BY THE DIRECTOR/SECRETARY IN CONJUNCTION WITH THE PREPARATION OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EACH OFFICER, DIRECTOR AND KEY EMPLOYEE ANNUALLY TO (1) REVIEW THE ORGANIZATION'S CONFLICT OF INTEREST POLICY; (2) DISCLOSE ANY POSSIBLE PERSONAL, FAMILIAL OR BUSINESS RELATIONSHIP THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFILCT OF INTEREST; AND (3) ACKNOWLEDGE THAT HE OR SHE IS ACTING IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 DISCLOSURE OF FORMS 1023 AND 990 ARE AVAILABLE ON GUIDE STAR AND ARE AVAILABLE UPON REQUEST. AUDRAIN CONCOURS FOUNDATION LLC 222 BELLEVUE AVENUE NEWPORT RI 02840 TO PLAN AND PRODUCE AUDRAIN NEWPORT CONCOURS & MOTORWEEK DE AUDRAIN AUTOMOBILE MUSEUM INC AR CAPITAL LLC 38 WASHINGTON SQUARE NEWPORT RI 02840 800886566 ALT. ASSET MANAGER DE N/A 0 0 AR GLOBAL INVESTMENTS LLC 38 WASHINGTON SQUARE NEWPORT RI 02840 475017622 ALT. ASSET MANAGER DE N/A 0 0 METROPOLITAN WEALTH MANAGEMENT LLC 222 BELEVUE AVENUE NEWPORT RI 02840 800868931 FAMILY OFFICE DE 0 0 BELLEVUE CAPITAL PARTNERS LLC 38 WASHINGTON SQUARE NEWPORT RI 02840 475146359 HOLDING COMPANY DE 0 0 1899 LLC DBA LAFORGE RESTAURANT 186 BELLEVUE AVENUE NEWPORT RI 02840 820696210 RESTAURANT DE 0 0 AUDRAIN MOTORSPORT LLC 259 MAPLE AVENUE NEWPORT RI 02840 814243740 MOTORSPORT DE N/A 0 0 AUDRAIN PARK PLACE LLC 75 HIGHPOINT PLACE PORTSMOUTH RI 02871 852857876 VEHICLE STORAGE DE N/A 0 0 GLEN COURT MANAGEMENT INC PO BOX 2700 NEWPORT RI 02840 232898727 SERVICE PROVIDER PA C 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 AR CAPITAL LLC K 208040 ACTUAL AR GLOBAL INVESTMENTS LLC C 1151032 CONTRIBUTION AUDRAIN PARK PLACE LLC K 62951 ACTUAL 1899 LLC DBA LA FORGE RESTAURANT M 540732 ACTUAL AUDRAIN MOTORSPORT LLC R 258591 ACTUAL AR GLOBAL INVESTMENTS LLC P 500000 ACTUAL