New London Maritime Society Inc
- Assets
- $453.5k
- Revenue
- $181.9k
- Investments
- $0.0
- Employees
- 1
- Location
- New London, CT
- Founding
- 01/1990
- Data as of
- 12/2021
- EIN
- 06-1086688
Organization Overview
New London Maritime Society Inc is located in New London, CT. The organization was established in 1990. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New London Maritime Society 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, New London Maritime Society Inc generated $181.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $161.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES A MARITIME MUSEUM TO PRESERVE AND PROMOTE THE MARITIME HISTORY OF THE PEOPLE, PORT, AND THE CITY OF NEW LONDON, CONNECTICUT. THE ORGANIZATION SPONSORS PROGRAMS AND EXHIBITS WHICH EDUCATE THE PUBLIC ABOUT MARITIME HISTORY AND EVENTS RELATED TO THE SEA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVING THE MARITIME HISTORY OF THE REGION. OPERATING A MUSEUM AND HOSTING SPECIAL EVENTS, FIELD TRIPS, EXHIBITS AND SEMINARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Tamulevich Executive Di | Officer | 40 | $70,446 |
Christina Corcoran President | OfficerTrustee | 30 | $0 |
John Desjardins Vice Preside | OfficerTrustee | 2 | $0 |
Alan Lyon Treasurer | OfficerTrustee | 4 | $0 |
Lloyd Beachy Director | Trustee | 1 | $0 |
Russell Demarco Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,230 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,517 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $145,747 |
| Total Program Service Revenue | $7,951 |
| Investment income | $5,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,210 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,725 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $181,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,446 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,674 |
| Fees for services: Management | $1,116 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $861 |
| Office expenses | $4,269 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,953 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,127 |
| All other expenses | $541 |
| Total functional expenses | $161,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,555 |
| Savings and temporary cash investments | $349 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,219 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $84,306 |
| Investments—publicly traded securities | $50,864 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $257,250 |
| Total assets | $453,543 |
| Accounts payable and accrued expenses | $5,593 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,593 |
| Net assets without donor restrictions | $75,556 |
| Net assets with donor restrictions | $372,394 |
| 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 | $453,543 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New London Maritime Society Inc has recieved totaling $5,296.
| Awarding Organization | Amount |
|---|---|
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: NEW LONDON THIRD-GRADE LOCAL HISTORY & LANDMARKS ADDED CLASS & BUS TRIPS | $5,000 |
Lll Foundation Inc Greenwich, CT PURPOSE: SUPPORT FOR PRESERVING AND PROMOTING NEW LONDON'S MARITIME HERITAGE | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $46 |
Endowment Analysis
| Ending Balance | $115,144 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Junior Tennis League Inc Long Island City, NY | $15,745,055 | $13,403,069 |
United States Sailing Association Inc Bristol, RI | $8,027,126 | $11,092,289 |
Row New York Inc New York, NY | $11,063,352 | $5,131,305 |
New England Sailing Foundation Inc Marblehead, MA | $32,351 | $1,795,441 |
New England Science & Sailing Foundation Inc Stonington, CT | $5,613,617 | $3,618,390 |
Long Island Swimming Garden City, NY | $5,786,299 | $2,981,330 |
Sail Newport Inc Newport, RI | $8,050,460 | $2,453,105 |
Stony Brook Yacht Club Inc Stony Brook, NY | $1,925,542 | $2,144,649 |
Community Boating Inc Boston, MA | $5,688,954 | $2,833,055 |
Hudson River Community Sailing Inc New York, NY | $1,975,748 | $1,753,516 |
Winchester Boat Club Winchester, MA | $5,238,512 | $1,099,002 |
Saugatuck Harbor Yacht Club Inc Westport, CT | $2,019,925 | $1,016,320 |