The Watermens Museum
- Assets
- $941.5k
- Revenue
- $197.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Yorktown, VA
- Founding
- 08/1986
- Data as of
- 12/2021
- EIN
- 54-1376477
Organization Overview
The Watermens Museum is located in Yorktown, VA. The organization was established in 1986. 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, Watermens Museum employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watermens 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 12/2021, Watermens Museum generated $197.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $205.3k during the year ending 12/2021. While expenses have increased by 0.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND PROMOTE THE ROLE THAT THE CHESAPEAKE BAY WATERMEN PLAYED IN THE SHAPING OF OUR NATION THROUGH A HISTORICAL DISPLAY OF CRAFTS AND METHODS OF THEIR TRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EXHIBITS AND WATERMEN PRESENTATIONS TO SCHOOL GROUPS AND INDIVIDUALS. ALSO PROVIDED ELDER HOSTEL AND RIVER TOURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Ormsby President | OfficerTrustee | 1 | $0 |
Penelope Payne Treasurer | OfficerTrustee | 1 | $0 |
Carol Tryer Vice President | OfficerTrustee | 1 | $0 |
Cynthia Speegle Secretary | OfficerTrustee | 1 | $0 |
Judith Mcdowell Director | Trustee | 1 | $0 |
Jill Pryor Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $11,245 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $73,687 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,230 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $130,162 |
| Total Program Service Revenue | $54,470 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,336 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,365 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$5,631 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $196,977 |
| 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 | $74,054 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,961 |
| Office expenses | $4,482 |
| Information technology | $444 |
| Royalties | $0 |
| Occupancy | $25,470 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $424 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,113 |
| Insurance | $7,997 |
| All other expenses | $1,778 |
| Total functional expenses | $205,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,079 |
| Savings and temporary cash investments | $76,937 |
| 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 | $18,011 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $757,406 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,045 |
| Total assets | $941,478 |
| Accounts payable and accrued expenses | $9,005 |
| 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 | $75,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,487 |
| Total liabilities | $89,992 |
| Net assets without donor restrictions | $851,486 |
| 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 | $941,478 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Watermens Museum has recieved totaling $1,055.
| Awarding Organization | Amount |
|---|---|
Rouse-Bottom Foundation Newport News, VA PURPOSE: GENERAL SUPPORT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $55 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thomas Jefferson Foundation Inc Charlottesville, VA | $395,493,786 | $54,038,606 |
Navy Seal Foundation Inc Virginia Beach, VA | $115,540,390 | $24,207,052 |
Lorraine Civil Rights Museum Foundation Memphis, TN | $35,843,207 | $14,748,460 |
The National Museum Of African American Music Nashville, TN | $43,131,276 | $9,233,015 |
Shakertown At Pleasant Hill Kentucky Inc Harrodsburg, KY | $23,439,163 | $8,870,243 |
Montpelier Foundation Orange, VA | $32,791,745 | $7,244,660 |
North Carolina Transportation Museum Foundation Spencer, NC | $11,455,078 | $7,616,895 |
Old Salem Incorporated Winstonsalem, NC | $81,707,076 | $3,795,190 |
Society Of The Cincinnati Washington, DC | $28,928,587 | $7,746,929 |
Owsley Brown Frazier Historical Arms Museum Foundation Inc Louisville, KY | $43,112,750 | $4,338,107 |
American Civil War Museum Richmond, VA | $33,997,529 | $3,026,232 |
B & O Railroad Museum Baltimore, MD | $29,274,881 | $4,473,800 |