National Coast Guard Museum Association Inc
- Assets
- $20.9m
- Revenue
- $5.8m
- Investments
- $420.9k
- Employees
- 17
- Location
- New London, CT
- Founding
- 11/2001
- Data as of
- 12/2021
- EIN
- 06-1621858
Organization Overview
National Coast Guard Museum Association Inc is located in New London, CT. The organization was established in 2001. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, National Coast Guard Museum Association Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Coast Guard Museum Association 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, National Coast Guard Museum Association Inc generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 15.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
TO EDUCATE THE PUBLIC ABOUT THE EVOLUTION OF THE MARITIME AND MILITARY HISTORY OF THE COAST GUARD AND ITS CONTRIBUTION TO AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE THE PUBLIC ABOUT THE EVOLUTION OF THE MARITIME AND MILITARY HISTORY OF THE COAST GUARD AND ITS CONTRIBUTION TO AMERICA. IN 2014 THE ASSOCIATION BEGAN THE PROCESS OF CONSTRUCTION OF THE MUSEUM AND A PEDESTRIAN BRIDGE LINKING THE MUSEUM TO LOCAL TRANSPORTATION FACILITIES. CONSTRUCTION COSTS THROUGH THE END OF 2022 TOTALED 13,646,158.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Curtin Chair | Trustee | 10 | $0 |
Wes Pulver President | Officer | 40 | $173,353 |
Radm Richard M Larrabee Treasurer | Officer | 16 | $0 |
Kevin Harkins Secretary | Officer | 16 | $0 |
Jeff Kingsley Director | Trustee | 4 | $0 |
Stephen Lovelette Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Az Corporation Construction | 12/30/22 | $1,608,623 |
Community Counseling Service Co Llc Fundraising | 12/30/22 | $360,000 |
Metcalf Facilities Group Llc Construction | 12/30/22 | $106,869 |
The Sheridan Press Printing | 12/30/22 | $204,154 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,731,961 |
| Investment income | $10,729 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,219 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,758,722 |
| Statement of Expenses | |
|---|---|
| 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. | $174,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,161,753 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,433 |
| Payroll taxes | $103,237 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,626 |
| Fees for services: Accounting | $27,813 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $369,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,330 |
| Advertising and promotion | $12,094 |
| Office expenses | $124,631 |
| Information technology | $31,123 |
| Royalties | $0 |
| Occupancy | $44,682 |
| Travel | $26,184 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $616 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,288 |
| Insurance | $8,473 |
| All other expenses | $0 |
| Total functional expenses | $2,498,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,988,954 |
| Savings and temporary cash investments | $2,259,774 |
| Pledges and grants receivable | $5,941,665 |
| 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 | $63,534 |
| Prepaid expenses and deferred charges | $7,879 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $420,936 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,226,038 |
| Total assets | $20,923,722 |
| Accounts payable and accrued expenses | $56,611 |
| 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 | $79,169 |
| Total liabilities | $135,780 |
| Net assets without donor restrictions | $16,812,115 |
| Net assets with donor restrictions | $3,975,827 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $20,787,942 |