Seaport Museum New York
- Assets
- $26.9m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 84
- Location
- New York, NY
- Founding
- 03/1989
- Data as of
- 12/2023
- EIN
- 13-2596500
Organization Overview
Seaport Museum New York, operating under the name South Street Seaport Museum, is located in New York, NY. The organization was established in 1989. 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 12/2023, South Street Seaport Museum employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Street Seaport 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, South Street Seaport Museum generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $5.3m during the year ending 12/2023. While expenses have increased by 7.6% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSEUM'S PRIMARY PURPOSE IS TO PRESERV/INTERPRET THE HISTORY OF NEW YORK AS A WORLD PORT
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL AND PUBLIC EVENTSTHE SEAPORT MUSEUM WELCOMED OVER 88,315 VISITORS IN 2023. OVER 150 FREE PUBLIC PROGRAMS ENGAGED 9,594 INDIVIDUALS IN CONVERSATIONS, WORKSHOPS, AND CULTURAL EXPERIENCES. HIGHLIGHTS IN 2023 INCLUDED THE PRIDE-THEMED "RAINBOWS ON THE HUDSON" BOAT PARADE; THE CHILEAN INDEPENDENCE DAY FIESTAS PATRIAS CELEBRATION; BLACKSMITHING DEMONSTRATIONS ON PIER 16; AND THE RIVER TO RIVER FESTIVAL. FAN FAVORITE PROGRAMS LIKE THE MONTHLY SEA CHANTEY SINGS, FAMILY ACTIVITY STATIONS, AND ANNUAL PARTNERSHIPS WITH CITY OF WATER DAY, ARCHTOBER, ALL CONTINUED AS WELL. SCHOOL-AGE FIELD TRIPS CONTINUED THROUGHOUT 2023, WELCOMING 5,503 K-12 STUDENTS AND THEIR EDUCATORS TO FIELD TRIPS DOCKSIDE ON PIER 16 AND IN THE HISTORIC DISTRICT.
MARINE OPERATIONSTHROUGHOUT THE YEAR, VISITORS OF ALL AGES EXPLORED 1885 CARGO SHIP WAVERTREE AND 1908 LIGHTSHIP AMBROSE OUTDOORS. DURING THE PEAK SAILING MONTHS (MAYOCTOBER), BOTH 1885 SCHOONER PIONEER AND 1930 TUGBOAT W.O. DECKER TOOK TRIPS OUT ON NEW YORK HARBOR.
CURATORIALTHOUSANDS OF VISITORS ENJOYED INDOOR EXHIBITIONS AT SCHERMERHORN ROW, WHICH IN 2023 INCLUDED "SOUTH STREET AND THE RISE OF NEW YORK;" "MILLIONS: MIGRANTS AND MILLIONAIRES ABOARD THE GREAT LINERS, 1900-1914; AND "SEAPORT DISCOVERY: EXPLORING OUR WATERS WITH ERIC CARLE." AT THE 19TH CENTURY RECREATED PRINT SHOP BOWNE & CO. STATIONERS, MASTER PRINTERS OFFERED PRINTING DEMONSTRATIONS AND WORKSHOPS FOR 12,014 VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christiana Huus Chair | OfficerTrustee | 1 | $0 |
David Sheehan Treasurer | OfficerTrustee | 1 | $0 |
Bevin Savage-Yamazaki Secretary | OfficerTrustee | 1 | $0 |
Craig Page Board Member | Trustee | 1 | $0 |
Catherine Mcvay Hughes Board Member | Trustee | 1 | $0 |
Ernest Tollerson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,185,363 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,516,404 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,701,767 |
| Total Program Service Revenue | $309,230 |
| Investment income | $60,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,310,354 |
| Net Gain/Loss on Asset Sales | $718 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $86,788 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,471,516 |
| 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. | $273,696 |
| Compensation of current officers, directors, key employees. | $45,495 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,307,974 |
| Pension plan accruals and contributions | $156,673 |
| Other employee benefits | $354,115 |
| Payroll taxes | $189,772 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $119,996 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $271,131 |
| Advertising and promotion | $1,220 |
| Office expenses | $228,811 |
| Information technology | $67,574 |
| Royalties | $0 |
| Occupancy | $31,208 |
| Travel | $13,300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,783 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $617,952 |
| Insurance | $388,868 |
| All other expenses | $0 |
| Total functional expenses | $5,305,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $888,856 |
| Pledges and grants receivable | $548,547 |
| Accounts receivable, net | $112,012 |
| 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 | $133,058 |
| Net Land, buildings, and equipment | $23,248,136 |
| Investments—publicly traded securities | $1,847,038 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $116,901 |
| Other assets | $0 |
| Total assets | $26,894,548 |
| Accounts payable and accrued expenses | $1,390,567 |
| 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 | $1,943,735 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $349,643 |
| Total liabilities | $3,683,945 |
| Net assets without donor restrictions | $21,425,842 |
| Net assets with donor restrictions | $1,784,761 |
| 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 | $26,894,548 |