The Waterfront Museum
- Assets
- $633.8k
- Revenue
- $176.7k
- Investments
- $267.7k
- Employees
- 4
- Location
- Brooklyn, NY
- Founding
- 04/2006
- Data as of
- 12/2023
- EIN
- 11-3569896
Organization Overview
The Waterfront Museum is located in Brooklyn, NY. The organization was established in 2006. 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 12/2023, Waterfront Museum employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waterfront Museum 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 12/2023, Waterfront Museum generated $176.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $187.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ARTS AND EDUCATION PROGRAMS, WATERFRONT ACCESS AND PROMOTE HISTORIC PRESERVATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHOWBOAT PERFORMANCES: DIVERSE ENTERTAINMENT GENRES OFTEN INCLUDE MUSIC, DANCE, FILM, CIRCUS, AND PUPPETRY. ART DISPLAYED ON THE WALLS ENHANCE THE COASTAL AMBIANCE. OUR FOCUS IS TO COLLABORATE WITH NY-BASED AND LOCAL ARTS GROUPS TO HELP ANCHOR RED HOOK AS A CULTURAL DESTINATION. ADMISSION COSTS VARY FROM FREE TO $35. MOST PROGRAMS FEATURE A MARITIME THEME AND ARE INTENDED FOR AUDIENCES OF ALL AGES.
MARITIME EDUCATION INITIATIVE: THE WATERFRONT MUSEUM PROVIDES FREE AND LOW-COST MARITIME EDUCATION PROGRAMS YEAR-ROUND IN AN INSPIRING AND DISTINCTIVE SETTING. THESE INCLUDE FREE MUSEUM TOURS TWICE WEEKLY; SCHOOL, CAMP, SENIOR AND TOURIST GROUP VISITS BOOKED IN ADVANCE; AND RESEARCH ASSISTANCE FOR STUDENTS, PROFESSORS, JOURNALISTS, AND HISTORIANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Sharps President | OfficerTrustee | 40 | $90,940 |
Annik La Farge Board Chair/secretary | OfficerTrustee | 1 | $0 |
Niel Isbrandtsen Treasurer | OfficerTrustee | 1 | $0 |
Jayne K Smith Board Member | Trustee | 1 | $0 |
Rebecca Chace Board Member | Trustee | 1 | $0 |
Howard Weber Esquire Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $68,960 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,377 |
| Noncash contributions included in lines 1a–1f | $775 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,337 |
| Total Program Service Revenue | $50,013 |
| Investment income | $7,305 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $176,745 |
| 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. | $35,000 |
| Compensation of current officers, directors, key employees. | $14,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,872 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,548 |
| Advertising and promotion | $1,178 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,641 |
| Travel | $111 |
| 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 | $39,468 |
| Insurance | $7,799 |
| All other expenses | $4,162 |
| Total functional expenses | $187,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,665 |
| Savings and temporary cash investments | $100,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $640 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $853 |
| Net Land, buildings, and equipment | $71,608 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $267,686 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $154,477 |
| Total assets | $633,755 |
| Accounts payable and accrued expenses | $5,361 |
| 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 | $218,977 |
| Total liabilities | $224,338 |
| Net assets without donor restrictions | $409,417 |
| Net assets with donor restrictions | $0 |
| 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 | $633,755 |