Mariners Museum
- Assets
- $147.6m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 153
- Location
- Newport News, VA
- Founding
- 04/1932
- Data as of
- 12/2023
- EIN
- 54-0541801
Organization Overview
Mariners Museum is located in Newport News, VA. The organization was established in 1932. 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, Mariners Museum employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mariners 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, Mariners Museum generated $9.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $11.3m during the year ending 12/2023. While expenses have increased by 1.1% 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
THE MARINERS' MUSEUM AND PARK CONNECTS PEOPLE TO THE WORLD'S WATERS, BECAUSE THROUGH THE WATERS - THROUGH OUR SHARED MARITIME HERITAGE - WE ARE CONNECTED TO ONE ANOTHER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCESS - MARINERS' LAKE - AFTER NEARLY TEN YEARS, MARINERS' LAKE REOPENED IN 2023. MORE THAN 850 MEMBERS OF THE COMMUNITY BECAME MARINERS THROUGH WEEKEND KAYAK RENTALS, CATCH-AND-RELEASE FISHING, AND GUIDED PADDLES. ADDITIONALLY, A NEW KAYAKING-FOCUSED EDUCATIONAL ENRICHMENT PROGRAM, MARINERS' LAKE EFFECT, PROVIDED OVER 1,000 STUDENTS WITH THE OPPORTUNITY TO HAVE A MEANINGFUL WATER EXPERIENCE, MANY FOR THE FIRST TIME.
RESEARCH - CONSERVATION SCIENCE - OUR CONSERVATION RESEARCH SCIENTIST, IN COLLABORATION WITH A CONSERVATION SCIENCE FELLOW, FURTHER REFINED AN APPROACH TO CAPTURE AND/OR MITIGATE THE EFFECTS OF SULPHUR TRAPPED IN WATERLOGGED ARCHAEOLOGICAL WOOD. THIS PROBLEM, UNTREATED, MANIFESTS ITSELF IN THE DEVELOPMENT OF SULFURIC ACID WHEN FORMERLY WATERLOGGED ARCHAEOLOGICAL WOOD THAT IS DRIED AND DISPLAYED - A PARTICULARLY THORNY PROBLEM FOR RECOVERED AND CONSERVED HISTORIC SHIPWRECKS GLOBALLY.
VALUE - EDUCATIONAL PROGRAMS - WITH A PARTICULAR FOCUS ON EDUCATIONAL ENRICHMENT PROGRAMS FOR SCHOOL-AGED CHILDREN, THE MARINERS' MUSEUM SERVED MORE THAN 23,000 STUDENT ENGAGEMENTS DURING THE 2022-2023 ACADEMIC YEAR, WITH OVER 80% OF STUDENTS PARTICIPATING FOR FREE.
CONSERVATION - PRINCESS CAROLINA - OUR ARCHAEOLOGICAL CONSERVATORS CLEANED AND RELOCATED OVER 400 TIMBERS FROM THE BOW OF THE MERCHANT SHIP PRINCESS CAROLINA INTO AN UPGRADED, ON-SITE COLLECTION STORAGE AREA. THE PRINCESS CAROLINA TIMBERS ARE THE OLDEST SURVIVING REMNANTS OF A COLONIAL-BUILT SHIP. THE PRINCESS CAROLINA WAS BUILT BETWEEN 1710 AND 1720 IN SOUTH CAROLINA AND SUPPORTED TRANSATLANTIC COMMERCE AND COMMERCE THROUGHOUT WHAT WERE THEN BRITISH COLONIES IN NORTH AMERICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Vander Vennet Trustee | OfficerTrustee | 1 | $0 |
Jennifer Boykin Chairman Of The Board | OfficerTrustee | 1 | $0 |
Stuart Henderson Trustee | Trustee | 1 | $0 |
John R Lawson II Secretary | OfficerTrustee | 1 | $0 |
Margaret Podlich Trustee | Trustee | 1 | $0 |
Kenneth Crofton Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $48,801 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,995,434 |
| Noncash contributions included in lines 1a–1f | $96,199 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,044,235 |
| Total Program Service Revenue | $144,518 |
| Investment income | $588,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $228,076 |
| Net Gain/Loss on Asset Sales | $1,092,656 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $59,854 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,515,563 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $42,507 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $449,877 |
| Compensation of current officers, directors, key employees. | $48,196 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,316,481 |
| Pension plan accruals and contributions | $179,878 |
| Other employee benefits | $677,935 |
| Payroll taxes | $427,170 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,745 |
| Fees for services: Accounting | $45,451 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $159,813 |
| Advertising and promotion | $34,383 |
| Office expenses | $129,013 |
| Information technology | $152,857 |
| Royalties | $0 |
| Occupancy | $748,384 |
| Travel | $60,850 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $58,633 |
| Interest | $118,628 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,626,537 |
| Insurance | $94,163 |
| All other expenses | $0 |
| Total functional expenses | $11,278,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,184,248 |
| Savings and temporary cash investments | $6,812,591 |
| Pledges and grants receivable | $1,852,593 |
| Accounts receivable, net | $79,637 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $50,983 |
| Prepaid expenses and deferred charges | $16,401 |
| Net Land, buildings, and equipment | $22,689,670 |
| Investments—publicly traded securities | $15,780,744 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,125,358 |
| Total assets | $147,592,225 |
| Accounts payable and accrued expenses | $945,993 |
| Grants payable | $0 |
| Deferred revenue | $2,891,075 |
| Tax-exempt bond liabilities | $5,275,826 |
| 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 | $0 |
| Total liabilities | $9,112,894 |
| Net assets without donor restrictions | $18,599,523 |
| Net assets with donor restrictions | $119,879,808 |
| 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 | $147,592,225 |