Lake Champlain Maritime Museum At Basin Harbor Incorporated
- Assets
- $5.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 41
- Location
- Vergennes, VT
- Founding
- 07/1985
- Data as of
- 12/2023
- EIN
- 22-2570380
Organization Overview
Lake Champlain Maritime Museum At Basin Harbor Incorporated is located in Vergennes, VT. The organization was established in 1985. 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, Lake Champlain Maritime Museum At Basin Harbor Incorporated employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Champlain Maritime Museum At Basin Harbor Incorporated 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, Lake Champlain Maritime Museum At Basin Harbor Incorporated generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 8 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
TO PRESERVE AND SHARE THE CULTURAL AND NATURAL HERITAGE OF THE LAKE CHAMPLAIN REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL OPERATION OF THE MUSEUM INCLUDING COURSES, GENERAL EDUCATION PROGRAMS, VIRTUAL EDUCATION PROGRAMS, DIGITAL EDUCATION THROUGH SOCIAL MEDIA AND THE MUSEUM'S WEBSITE, RESEARCH, AND CHILDREN'S PROGRAMMING. FOR THE 2023 SEASON, OVER 10,000 PEOPLE VISITED THE MUSEUM IN-PERSON AND FREE OF CHARGE WHILE THOUSANDS OF OTHERS EXPLORED LCMM'S DIGITAL PROGRAMMING.
VARIOUS EDUCATIONAL PROGRAMS INCLUDING CHAMPLAIN DISCOVERY & LONGBOATS THAT TEACH BOAT BUILDING, NAVIGATION, HISTORY AND ECOLOGY TO HIGH SCHOOL STUDENTS. OTHER EDUCATIONAL PROGRAMS INCLUDE VARIOUS NAUTICAL-RELATED COURSES, SCHOOL OUTREACH PROGRAMS, AND SUMMER CAMPS.
VARIOUS ARCHAEOLOGY PROJECTS, INCLUDING RESEARCHING, DOCUMENTING, PROTECTING, AND MAKING ACCESSIBLE LAKE CHAMPLAIN'S UNDERWATER CULTURAL RESOURCES. THIS WORK MAKES POSSIBLE THE CONSERVATION AND PRESENTATION OF OVER 300 SHIPWRECKS IN THE LAKE AND 10,000 OBJECTS AND ARCHIVES IN THE MUSEUM'S COLLECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Hardy Chair | OfficerTrustee | 2 | $0 |
Ed Mcguire Vice-Chair | OfficerTrustee | 2 | $0 |
Frank Koster Treasurer | OfficerTrustee | 2 | $0 |
Tim Hodson Secretary | OfficerTrustee | 2 | $0 |
Robert H Beach Jr Director | Trustee | 1 | $0 |
Harry Chaucer Director / Instructor | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,811 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $741,934 |
| All other contributions, gifts, grants, and similar amounts not included above | $716,404 |
| Noncash contributions included in lines 1a–1f | $127,658 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,479,149 |
| Total Program Service Revenue | $358,912 |
| Investment income | $76,804 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,575 |
| Net Gain/Loss on Asset Sales | -$186,767 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,823 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,746,686 |
| 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. | $137,209 |
| Compensation of current officers, directors, key employees. | $32,599 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $716,102 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,745 |
| Payroll taxes | $66,161 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $349,598 |
| Advertising and promotion | $53,543 |
| Office expenses | $40,403 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,989 |
| Travel | $66,160 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,717 |
| Interest | $4,047 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,053 |
| Insurance | $61,818 |
| All other expenses | $10,058 |
| Total functional expenses | $1,959,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $431,578 |
| Savings and temporary cash investments | $25,367 |
| Pledges and grants receivable | $299,995 |
| Accounts receivable, net | $178,710 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,570 |
| Prepaid expenses and deferred charges | $58,768 |
| Net Land, buildings, and equipment | $1,006,327 |
| Investments—publicly traded securities | $3,155,430 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,213,745 |
| Accounts payable and accrued expenses | $93,828 |
| Grants payable | $0 |
| Deferred revenue | $15,306 |
| 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 | $167,792 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $276,926 |
| Net assets without donor restrictions | $1,173,479 |
| Net assets with donor restrictions | $3,763,340 |
| 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 | $5,213,745 |