Virginia Beach Maritime Museum Inc
- Assets
- $345.0k
- Revenue
- $176.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Virginia Beach, VA
- Founding
- 04/1982
- Data as of
- 06/2022
- EIN
- 54-1113384
Organization Overview
Virginia Beach Maritime Museum Inc, operating under the name Virginia Beach Surf & Rescue Museum, is located in Virginia Beach, VA. The organization was established in 1982. 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 06/2022, Virginia Beach Surf & Rescue Museum employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Beach Surf & Rescue 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 06/2022, Virginia Beach Surf & Rescue Museum generated $176.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $176.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES A MUSEUM THAT HONORS AND PRESERVES THE HISTORY OF VIRGINIA'S COASTAL COMMUNITIES AND MARITIME HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF VIRGINIA BEACH SURF & RESCUE MUSEUM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Johnson-Sizemore Executive Di | Officer | 40 | $43,750 |
Benjamin Clarke Director | Trustee | 1 | $0 |
Geoff Cole Director | Trustee | 1 | $0 |
Jake Denton Director | Trustee | 1 | $0 |
Bill Gambrel Director | Trustee | 1 | $0 |
Ed Hopper Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $24,000 |
| Membership dues | $1,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,414 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $135,664 |
| Total Program Service Revenue | $0 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $34,128 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,933 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $176,738 |
| 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. | $59,375 |
| Compensation of current officers, directors, key employees. | $19,791 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,121 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,283 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $898 |
| Advertising and promotion | $2,934 |
| Office expenses | $14,296 |
| Information technology | $2,204 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $37 |
| 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 | $15,125 |
| Insurance | $12,986 |
| All other expenses | $2,784 |
| Total functional expenses | $176,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,482 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $70,000 |
| 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 | $13,214 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $158,292 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $344,988 |
| Accounts payable and accrued expenses | $19,782 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,782 |
| Net assets without donor restrictions | $325,206 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $344,988 |