Mystic Seaport Museum Inc is located in Mystic, CT. The organization was established in 1938. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Mystic Seaport Museum Inc employed 246 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mystic Seaport Museum Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Mystic Seaport Museum Inc generated $26.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $18.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MYSTIC SEAPORT MUSEUM STRIVES TO INSPIRE AN ENDURING CONNECTION TO THE AMERICAN MARITIME EXPERIENCE.
Describe the Organization's Program Activity:
VISITOR EXPERIENCE - EACH YEAR MORE THAN 115,000 PEOPLE VISIT MYSTIC SEAPORT, THE MUSEUM OF AMERICA AND THE SEA. THE DEPARTMENTS AND DIVISIONS THAT HAVE PRIMARY RESPONSIBILITY FOR THE VISITOR EXPERIENCE INCLUDE: VISITOR SERVICES, EXHIBITIONS, INTERPRETATION PROGRAMS, AND MUSEUM STORES. THEY WELCOME VISITORS; PROVIDE FOR THEIR PHYSICAL NEEDS; OFFER EDUCATIONAL AND ILLUSTRATIVE PRODUCTS TO UNDERSCORE THE THEME OF AMERICA AND THE SEA; RESEARCH, DESIGN, PRODUCE AND CARE FOR EXHIBITS; RESEARCH, PLAN, AND CONDUCT A VARIED SEASONAL SCHEDULE OF PROGRAMS, ACTIVITIES AND SPECIAL EVENTS FOR VISITORS OF ALL AGES.
EDUCATIONAL PROGRAMS - MYSTIC SEAPORT OFFERS A VARIETY OF FORMAL AND INFORMAL EDUCATIONAL OPPORTUNITIES FOR DIVERSE AUDIENCES. EDUCATORS CAN CHOOSE FROM A VARIED MENU OF EDUCATIONAL PROGRAMMING INCLUDING SELF-GUIDED EXPLORATION, GUIDED TOURS WITH HANDS ON ACTIVITIES, PLANETARIUM SHOWS, ROLEPLAYER OR CHANTEY PERFORMANCES, IN-SCHOOL WORKSHOPS & VIRTUAL PROGRAMS.THE MUSEUM SERVES OVER 40,000 STUDENTS AND ADULTS EACH YEAR. THE EDUCATION DEPARTMENT WORKS WITH EDUCATORS AND STUDENTS TO PROVIDE A TAILORED EDUCATIONAL EXPERIENCE TO MEET THE NEEDS OF THEIR CURRICULUM INCLUDING SAILING PROGRAMS AND SUMMER CAMPS.
COLLECTIONS & RESEARCH - THE MUSEUM'S COLLECTIONS HOLD OVER 2 MILLION ITEMS, INCLUDING VESSELS, HISTORIC BUILDINGS, PHOTOGRAPHS, FILM AND VIDEO FOOTAGE, IMPRINTS, ART, TOOLS, AND ARTIFACTS DATING FROM THE EIGHTEENTH, NINETEENTH AND TWENTIETH CENTURIES. THE WATERCRAFT COLLECTION, THE LARGEST COLLECTION OF ITS GENRE IN THE WORLD WITH OVER 480 VESSELS, INCLUDES 4 NATIONAL HISTORIC LANDMARKS: THE 1841 WHALING BARK CHARLES W. MORGAN, THE 1921 FISHING SCHOONER L. A. DUNTON, THE 1908 STEAM FERRY SABINO, AND THE NOANK WELL-SMACK EMMA C. BERRY. CURATORIAL WORK INCLUDES ACQUISITION, REGISTRATION, RESEARCH AND DOCUMENTATION, RESTORATION AND CONSERVATION. THE HENRY B. DUPONT PRESERVATION SHIPYARD WAS ESTABLISHED TO ENABLE MYSTIC SEAPORT TO CARE FOR ITS HISTORIC WATERCRAFT. THE SHIPYARD IS ALSO AN EXHIBIT WHERE VISITORS CAN WATCH THE STAFF PERFORM THE WORK NECESSARY TO MAINTAIN AND RESTORE OUR WATERCRAFT COLLECTION, EMPHASIZING THE USE OF TRADITIONAL MATERIALS AND SKILLS. THE MUSEUM'S EXTENSIVE COLLECTIONS OF MARITIME ART AND ARTIFACTS, PHOTOGRAPHS AND MOVING IMAGES, AND SHIPS PLANS ARE HOUSED ALONGSIDE THE G. W. BLUNT WHITE LIBRARY'S BOOKS AND PERIODICALS, CHARTS AND MAPS, ORAL HISTORIES, MICROFILM, LOG BOOKS, SHIPS REGISTERS AND MANUSCRIPTS IN A STATE OF THE ART FACILITY, THE COLLECTIONS RESEARCH CENTER. STAFF AND COLLECTIONS ARE BROUGHT TOGETHER HERE IN A COORDINATED AND EFFECTIVE CONFIGURATION UNDER ONE ROOF. THE COLLECTIONS RESEARCH CENTER IS THE MUSEUM'S CENTER FOR ADVANCED RESEARCH IN AMERICAN MARITIME HISTORY, CULTURE AND SCIENCE, SERVING STUDENTS, MEMBERS, STAFF AND OUTSIDE SCHOLARS. THE MUSEUM ALSO CONTRIBUTES TO KNOWLEDGE OF MARITIME STUDIES AND SCHOLARSHIP THROUGH BOOK PUBLICATION, AND SYMPOSIA.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Peter Armstrong President & Trustee | OfficerTrustee | 40 | $287,943 |
Christina Brophy Sr. VP Of Curatorial Affairs | 40 | $232,529 | |
David Patten Outgoing Cfo/asst. Treasurer | Officer | 40 | $215,975 |
Christopher Gasiorek Sr. VP Of Operations And Watercraft | 40 | $164,854 | |
Christopher Freeman Vice President In Advancement | 40 | $139,515 | |
Shannon Mckenzie VP Operations | 40 | $119,304 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cohnreznick Llp Advisory, Assurance & Tax Services | 12/30/21 | $212,900 |
Wiggin & Dana Llp Legal Services | 12/30/21 | $203,785 |
Glenmede Investment Management | 12/30/21 | $191,876 |
Sns Electric Llc Electrical Services | 12/30/21 | $163,532 |
Securitas Security Services Usa Inc Security Services | 12/30/21 | $344,584 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $1,267,774 |
Fundraising events | $516,709 |
Related organizations | $0 |
Government grants | $8,298,276 |
All other contributions, gifts, grants, and similar amounts not included above | $5,464,280 |
Noncash contributions included in lines 1a–1f | $2,091,793 |
Total Revenue from Contributions, Gifts, Grants & Similar | $15,547,039 |
Total Program Service Revenue | $5,208,892 |
Investment income | $1,292,314 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $1,698 |
Net Rental Income | $270,361 |
Net Gain/Loss on Asset Sales | $4,302,684 |
Net Income from Fundraising Events | -$18,137 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $38,092 |
Miscellaneous Revenue | $0 |
Total Revenue | $26,794,983 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $104,139 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $624,520 |
Compensation of current officers, directors, key employees. | $412,219 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $6,449,905 |
Pension plan accruals and contributions | $88,323 |
Other employee benefits | $818,800 |
Payroll taxes | $488,422 |
Fees for services: Management | $0 |
Fees for services: Legal | $225,136 |
Fees for services: Accounting | $76,225 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $367,581 |
Fees for services: Other | $78,421 |
Advertising and promotion | $197,370 |
Office expenses | $640,966 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $753,062 |
Travel | $139,221 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $144,700 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,780,359 |
Insurance | $647,045 |
All other expenses | $360,879 |
Total functional expenses | $18,251,395 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $5,432,059 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $5,198,814 |
Accounts receivable, net | $1,354,306 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $169,127 |
Prepaid expenses and deferred charges | $463,996 |
Net Land, buildings, and equipment | $23,109,820 |
Investments—publicly traded securities | $81,260,769 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $5,279,041 |
Total assets | $122,267,932 |
Accounts payable and accrued expenses | $943,237 |
Grants payable | $0 |
Deferred revenue | $4,051,329 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $5,278,854 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $107,233 |
Total liabilities | $10,380,653 |
Net assets without donor restrictions | $29,531,279 |
Net assets with donor restrictions | $82,356,000 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $122,267,932 |
Over the last fiscal year, we have identified 4 grants that Mystic Seaport Museum Inc has recieved totaling $4,929.
Awarding Organization | Amount |
---|---|
Rogers Wilbur Foundation Inc Crownsville, MD PURPOSE: UNRESTRICTED | $2,500 |
Benson P Blake Char Tr C O Tua Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $2,000 |
Rice Family Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $250 |
Andrew And Carol Parsons Family Foundation Fisher Island, FL PURPOSE: ARTS | $179 |
Beg. Balance | $63,291,081 |
Earnings | $9,876,556 |
Net Contributions | $176,482 |
Other Expense | $3,221,753 |
Ending Balance | $70,122,366 |
Organization Name | Assets | Revenue |
---|---|---|
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
The Corning Museum Of Glass Corning, NY | $73,662,076 | $31,481,253 |
Intrepid Museum Foundation Inc New York, NY | $107,274,514 | $23,304,017 |
Jewish Museum New York, NY | $170,221,432 | $22,874,963 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |
The Maritime Aquarium At Norwalk Inc South Norwalk, CT | $19,089,489 | $11,308,442 |
George Eastman Museum Rochester, NY | $59,825,841 | $12,306,953 |
Naismith Memorial Basketball Hall Of Fame Inc 1150 West Columbus Ave Springfield, MA | $33,159,743 | $5,379,532 |