Great Lakes Shipwreck Historical Society Inc
- Assets
- $3.4m
- Revenue
- $895.9k
- Investments
- $0.0
- Employees
- 35
- Location
- Sault Sainte Marie, MI
- Founding
- 05/1978
- Data as of
- 12/2020
- EIN
- 38-2198482
Organization Overview
Great Lakes Shipwreck Historical Society Inc is located in Sault Sainte Marie, MI. The organization was established in 1978. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Great Lakes Shipwreck Historical Society Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Lakes Shipwreck Historical Society 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 12/2020, Great Lakes Shipwreck Historical Society Inc generated $895.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $730.7k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND AUGMENT AN UNDERSTANDING AND APPRECIATION OF MARITIME HISTORY WITH PARTICULAR EMPHASIS ON THE GREAT LAKES MARITIME HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND AUGMENT AND UNDERSTANDING AND APPRECIATION OF MARITIME HISTORY WITH PARTICULAR EMPHASIS ON THE GREAT LAKES FACILITIES INCLUDING IDENTIFICATION, PRESERVATION AND RESTORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Lynn Executive Di | Officer | 40 | $87,220 |
William Mcleod President | OfficerTrustee | $0 | |
Matt Howard Treasurer | Officer | $0 | |
C Patrick Labadie Trustee | Officer | $0 | |
David Turner Secretary | Officer | $0 | |
Corey Adkins Vice Preside | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,271 |
| Investment income | $4,172 |
| 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 | $101,016 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $895,868 |
| 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. | $83,664 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,877 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,610 |
| Payroll taxes | $22,951 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,695 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,791 |
| Advertising and promotion | $50,223 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,011 |
| Travel | $12,319 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,861 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $124,543 |
| Insurance | $46,977 |
| All other expenses | $0 |
| Total functional expenses | $730,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,234,458 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $14,641 |
| 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 | $200,079 |
| Prepaid expenses and deferred charges | $6,526 |
| Investments—publicly traded securities | $18,527 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,412,153 |
| Accounts payable and accrued expenses | $198,882 |
| 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 | $204,682 |
| Other liabilities | $0 |
| Total liabilities | $403,564 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $3,008,589 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Great Lakes Shipwreck Historical Society Inc has recieved totaling $808.
| Awarding Organization | Amount |
|---|---|
Shell Oil Company Foundation Houston, TX PURPOSE: MG | $750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $58 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ohio Historical Society Columbus, OH | $7,345,353 | $25,940,986 |
Franklin County Historical Society Columbus, OH | $23,539,656 | $19,471,266 |
Indiana Historical Society Indianapolis, IN | $152,627,726 | $15,739,974 |
Sunset Memorial Park Association North Olmsted, OH | $79,187,854 | $7,193,716 |
Historic Landmarks Foundation Of Indiana Inc Indianapolis, IN | $92,679,775 | $11,879,556 |
Cuyahoga Valley Preservation And Scenic Railway Association Peninsula, OH | $11,093,810 | $8,580,241 |
Western Reserve Historical Society Cleveland, OH | $45,747,344 | $9,269,565 |
Stan Hywet Hall & Gardens Inc Akron, OH | $11,720,685 | $5,111,685 |
American Opinion Foundation Inc Appleton, WI | $4,682,811 | $5,136,878 |
Arlington Memorial Gardens Assoc Inc Cincinnati, OH | $20,107,883 | $6,307,939 |
Hudson Library & Historical Society Hudson, OH | $7,551,433 | $4,693,628 |
Old Tiger Stadium Conservancy Detroit, MI | $90,494 | $3,111,920 |