Minnesota Lakes Maritime Society
- Assets
- $3.5m
- Revenue
- $461.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Alexandria, MN
- Founding
- 12/2000
- Data as of
- 12/2020
- EIN
- 41-1967683
Organization Overview
Minnesota Lakes Maritime Society, operating under the name Legacy Of The Lakes Museum, is located in Alexandria, MN. The organization was established in 2000. 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 12/2021, Legacy Of The Lakes Museum employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Of The Lakes 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 12/2020, Legacy Of The Lakes Museum generated $461.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $366.1k 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
PROMOTE AND PRESERVE THE HISTORY AND CULTURE OF MINNESOTA LAKE LIFE THROUGH INTERPRETIVE EXHIBITS, EDUCATIONAL PROGRAMS, COLLECTIONS MANAGEMENT, AND SPECIAL EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSEUM WAS OPEN FOR OUR ENTIRE MAY TO OCTOBER 31 SEASON WITH AN ATTENDANCE COUNT OF 4,219, MORE THAN TWICE OUR 2020 COUNT OF 1,606. VISITOR DEMOGRAPHICS SHIFTED SLIGHTLY WITH A HIGHER PERCENTAGE OF VISITORS FROM MINNESOTA. FIVE TEMPORARY EXHIBITS WERE INSTALLED THREE FOCUSED ON BOATS FROM DIFFERENT ERAS, ONE ON THE 100TH ANNIVERSARY OF A NATIONALLY-RECOGNIZED LOCAL GOLF TOURNAMENT, AND A DISPLAY OF CANOE PADDLE ART SUBMITTED BY LOCAL ARTISTS IN OUR ANNUAL ART COMPETITION. WE SPONSORED OR CO-SPONSORED THREE SPEAKER SERIES SERVING 145 PARTICIPANTS IN PERSON OR ONLINE LIVE. VIDEOS OF THE TALKS WERE VIEWED 3,340 TIMES THIS YEAR. WE HOSTED SIX COMMUNITY EDUCATION CLASSES WITH 144 STUDENTS ATTENDING. THE ANNUAL BOAT SHOW HAD 41 ENTRIES WITH OVER 1,000 PEOPLE ATTENDING THIS OUTDOOR EVENT ON LAKE DARLING. THE MUSIC IN THE GARDENS CONCERT SERIES DREW APPROXIMATELY 930 PEOPLE. THE MUSEUM RECEIVED THREE BOAT DONATIONS A 1930 28 CHRIS CRAFT MODEL 118 SEDAN A 1918 27 BURTCH LAUNCH AND A 19 FAERING BOAT REPRODUCTION BUILT USING TRADITIONAL VIKING DESIGNS AND TOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Swenson Executive Director | 40 | $74,375 | |
Russ Sticha President | OfficerTrustee | 1 | $0 |
Dave Bortner Vice President | OfficerTrustee | 1 | $0 |
Jack Driscoll Secertary | OfficerTrustee | 1 | $0 |
Fred Bursch Treasurer | OfficerTrustee | 1 | $0 |
Jon Steinbring Past President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $413,671 |
| Investment income | $6,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$8,341 |
| Net Gain/Loss on Asset Sales | $6,565 |
| Net Income from Fundraising Events | -$335 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$629 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $461,700 |
| 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. | $73,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,453 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,993 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,715 |
| Office expenses | $9,177 |
| Information technology | $4,321 |
| Royalties | $0 |
| Occupancy | $31,362 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,774 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,624 |
| Insurance | $11,572 |
| All other expenses | $0 |
| Total functional expenses | $366,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,291 |
| Savings and temporary cash investments | $372 |
| Pledges and grants receivable | $0 |
| 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 | $1,608 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $325,409 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $213,611 |
| Total assets | $3,458,909 |
| Accounts payable and accrued expenses | $2,995 |
| 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 | $264,758 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,675 |
| Total liabilities | $287,428 |
| 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 | $3,171,481 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Minnesota Lakes Maritime Society has recieved totaling $46,110.
| Awarding Organization | Amount |
|---|---|
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, ARTS & CULTURE | $15,500 |
Communitygiving St Cloud, MN PURPOSE: GEN/OPER SUPPORT | $13,100 |
Community Foundation Of Collier County Naples, FL PURPOSE: HUMAN SERVICES | $10,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: SPECIAL PROJECT | $7,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $10 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eaa Aviation Foundation Inc Oshkosh, WI | $62,820,883 | $14,243,844 |
Putnam Museum And Science Center Davenport, IA | $12,236,666 | $5,417,637 |
Museum Of Wisconsin Art Inc West Bend, WI | $10,712,368 | $3,038,325 |
Living History Farms Foundation Des Moines, IA | $16,358,279 | $3,488,331 |
National Music Museum Vermillion, SD | $15,649,509 | $3,706,421 |
Minnesota Masonic Historical Society And Museum Bloomington, MN | $21,958,017 | $92,192 |
Minnesota Marine Art Museum Winona, MN | $26,828,253 | $837,188 |
Deadwood History Inc Deadwood, SD | $2,336,299 | $1,550,471 |
Packers Heritage Inc Green Bay, WI | $657,435 | $1,483,448 |
Salisbury House Foundation Des Moines, IA | $11,060,982 | $836,584 |
Pabst Mansion Inc Milwaukee, WI | $6,070,527 | $1,044,515 |
Luxembourg American Cultural Society Inc Belgium, WI | $2,306,360 | $776,687 |