Lakeview Museum reports deficit on 2008 Form 990

WEEK/WHOI reports that Lakeview Museum lost $1.1 million last fiscal year (Jul. 2008 – Jun. 2009). Lakeview Director Jim Richerson says that’s because (a) they were “spending [money] for architects and engineers to advance the [Peoria Riverfront Museum] project,” and (b) donations “were down in 2008 because many were waiting to see what would come of the new museum project.”

Well, he’s certainly right about donations being down. Lakeview reported receiving $1,424,740 in donations, down 59% from $3,467,217 the prior year. As far as expenditures for the PRM, they say they spent $1,772,196 on the project. It doesn’t say how much of that went to “architects and engineers,” but it does say $704,847 was spent on “Public Awareness/Refere[ndum].” That means 40% of the money Lakeview spent on the PRM went toward an advertising campaign that promised (among other things) an IMAX theater and the use of 100% local union labor to build the museum — promises the museum group has signaled they may not be willing or able to fulfill now. They also reported $83,973 in “lobbying expenditures to influence a legislative body (direct lobbying).”

In other semi-related museum news, the slowly-disappearing Journal Star reports that Peoria Regional Museum Chairman (and former Peoria Mayor) Dave Ransburg is accused of committing fraud against Rubbermaid Inc. when he sold his company, L. R. Nelson Corp., to Robert Bosch Tool Corp. in 2008. Allegedly, Rubbermaid didn’t get paid the money L. R. Nelson owed them, but Ransburg and a couple other board members were compensated. So… Ransburg’s pledge toward the new museum may be in jeopardy.

15 thoughts on “Lakeview Museum reports deficit on 2008 Form 990”

  1. It’s really becoming clear that you want this museum to fail so you can tell everyone “I told you so.” Talk about sour grapes.

  2. No doubt a number of people here light up everytime there is negative news on Dist 150, the museum or the Marriott project. Some people get off on being critics. Shame.

  3. I don’t think anyone wants the museum to fail but I do think it is appropriate to ask questions, seek information and point out issues as you see them. The facts in the museum case are very plain to see and time will tell if it works or not. The museum has not reached the fundraising goals that were set, the museum is using a different form of bonding than originally stated, the plan for the project has changed and appears will not use components that were strongly implied would be present up to the time of the vote on the public facility tax and has already started construction before all of the funds have been secured to finish the construcion. It is our right and responsibility to ask questions. It is our right and responsibility to continue to ask questions.

  4. You think we are critics? Yes, we are. But how many times do you have to be hit in the head before you realize it hurts? Midtown, Global, Firefly, Marriott, PRM, Civic Center, on and on and on. Like I said how many times do you have to be hit in the head before you realize it hurts and you look to see who is doing it and figure out how to stop them? I’m sick to death of these powers that be telling us what we need and forcing it down our throats and then failing at it. Did anyone look at yesterday’s paper where they got a grant that is going to put art in public places? How much of that grant are they going to waste before someone figures out they have been hit in the head again and stop it? We need basic infrastructure before we put on the frills and window dressing. Am I a critic, yes, and I’m not ashamed of it. Somebody has to ask questions and get answers that make sense.

  5. I never said everybody. I said there are some that are clearly gleeful about pointing out every single negative in Peoria government and Dist 150. We all know people who are continually negative and that take joy in others failures. I suspect some of those are here.

    I am convinced some here want the museum to fail and would be disappointed if it was a success.

    Nobody said you don’t have the right to complain about most everything that involves Peoria government and Dist 150.

    Only you know whether you get off on this stuff or whether you sincerely hope you are wrong.

  6. Walk of shame; They said on the news last night the tax forms weren’t done so i would assume thats code for we haven’t figured out how to hide how much we have wasted. Maybe they are waiting until the election is over so there political friends don’t have to answer some tough questions about the money.

  7. Sour Grapes!?! Really?

    I will give WOW credit though…. His or her post is the best argument FOR the museum I have seen in a long time.

    If this museum ‘works,’ I am sure that the PRM group will want all the credit, accolades, etc…….. No problem.

    But…if it doesn’t? Who will step up and take the blame? Do you think for a minute that Ransberg and/or the rest of them will step up; admit that their ‘poor judgement’ cost Peoria again [and again, and again, and again….]?

  8. I do not think anyone wants the museum to fail but many of us have been arguing specific facts and concerns since this thing started and wanted to bring to light those before people voted. All we are doing is pointing out exactly what we said was going ot happen. Many of us were ridiculed and chastized for bringing up legitimate concerns. This way the next great idea that comes from the SMART people is looked at a little more carefully by those who are voting, and or the SMART people do a little more due dilligence. I hope the museum succeeds. I hope the hotel succeeds. Damn it, it’s my tax dollare paying for the freaking things. Am I goingot put a wager on it? NO FLIPPIN WAY!

  9. Oh..

    I will admit, I have no children attending a Dist 150 school…

    I understand that the district has its…’problems?’ I do not feel justified or qualified to comment on the woes of District 150. Peoria govt. is another matter. The PRM is another matter…

    I doubt that there are very many people who post here who would find some ‘satsifaction’ in seeing [yet another] multi-million dollar project fail in Peoria. The last thing we need is to stick the tax payers with ANOTHER bill…

    I am sure that there are a few who wouldn’t mind seeing our illustrious city/county politicians and ‘kings’ of industry knocked down a few pegs though…?

  10. Walk of Shame: They haven’t filed their Form 990 for the last fiscal year (2009-2010). So the Form 990 we have is the last fiscal year report available.

    “Wow”: Facts are facts. I’m not sure if you’re asking me to ignore bad news or fabricate good news. Neither one would be in the best interests of Peoria’s citizens.

  11. “drive through the neighborhoods more houses for sale than ever, they have to fire more people there is no money for property taxes increases at min. wage especially when many people don’t even want to be here.”

    NO WORRIES!!

    The new museum will change all that!

    By the way… did anyone happen to catch the name of that CHICAGO firm that will be handling all of the museum construction ‘details?’

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