Long Island Maritime Museum
- Assets
- $1.0m
- Revenue
- $429.3k
- Investments
- $0.0
- Employees
- 24
- Location
- West Sayville, NY
- Founding
- 07/1994
- Data as of
- 12/2023
- EIN
- 23-7007442
Organization Overview
Long Island Maritime Museum is located in West Sayville, NY. The organization was established in 1994. 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, Long Island Maritime Museum employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Island Maritime 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, Long Island Maritime Museum generated $429.3k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $469.5k 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
THE STATED PURPOSE OF THE MUSEUM SHALL BE:A.TO PRESERVE LONG ISLAND'S MARITIME HISTORY AND HERITAGE FOR EDUCATIONAL PURPOSES.B.TO PURCHASE, COLLECT, RESTORE AND PRESERVE BOATS, VESSELS AND RELATED EQUIPMENT HAVING TO DO WITH THE PAST AND PRESENT MARITIME ACTIVITIES OF LONG ISLAND, INCLUDING BUT NOT LIMITED TO, SHIPBUILDING, WHALING, SHELLFISHING, COMMERCIAL AND SPORTFISHING, WILDFOWLING, PLEASURE AND COMPETITIVE BOATING, WATERCRAFT AND THE ETHNIC HERITAGE PERTAINING THERETO.C.TO RESTORE, PRESERVE, INTERPRET, DISPLAY AND EXHIBIT WATERCRAFT OF HISTORICAL INTEREST, MODELS OF SHIPS AND OF SMALL CRAFT, TOOLS, AND IMPLEMENTS OF THE MARINE CRAFTS AND TRADES, WILDFOWLING DECOYS, PAINTINGS, PRINTS, MAPS, CHARTS AND BOOKS; AND DISPLAYS FEATURING WILDLIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE AND CARE FOR THE MARINE HERITAGE MUSEUM AND ITS RELATED STRUCTURES. TO PROVIDE THE PUBLIC WITH EDUCATIONAL PROGRAMS AND PRESERVE THE HISTORICAL INTEREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Eagan Chairman | OfficerTrustee | 20 | $0 |
Elizabeth Arink First Vice Chairman | OfficerTrustee | 18 | $0 |
Brandt Rising Second Vice Chairman | OfficerTrustee | 2 | $0 |
Mark Deangelis Trustee | Trustee | 4 | $0 |
Phil Linker Trustee | Trustee | 4 | $0 |
Tim Mattimore Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,847 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $51,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,754 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $160,001 |
| Total Program Service Revenue | $113,303 |
| Investment income | $23,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $47,186 |
| Net Gain/Loss on Asset Sales | -$6,811 |
| Net Income from Fundraising Events | $86,672 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,340 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $429,337 |
| 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 | $245,484 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,197 |
| Payroll taxes | $29,809 |
| Fees for services: Management | $9,081 |
| 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 | $7,519 |
| Fees for services: Other | $7,100 |
| Advertising and promotion | $5,451 |
| Office expenses | $6,902 |
| Information technology | $11,786 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $6,829 |
| Insurance | $11,506 |
| All other expenses | $3,606 |
| Total functional expenses | $469,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,241 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $296 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,628 |
| Prepaid expenses and deferred charges | $23,412 |
| Net Land, buildings, and equipment | $79,945 |
| Investments—publicly traded securities | $687,618 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,380 |
| Total assets | $1,031,520 |
| Accounts payable and accrued expenses | $13,548 |
| Grants payable | $0 |
| Deferred revenue | $6,930 |
| 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 | $2,460 |
| Total liabilities | $22,938 |
| Net assets without donor restrictions | $955,400 |
| Net assets with donor restrictions | $53,182 |
| 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 | $1,031,520 |