National Sailing Hall Of Fame Museum Inc
- Assets
- $12.7m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Newport, RI
- Founding
- 07/2004
- Data as of
- 12/2021
- EIN
- 54-2152883
Organization Overview
National Sailing Hall Of Fame Museum Inc, operating under the name The Sailing Museum, is located in Newport, RI. The organization was established in 2004. 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 12/2021, Sailing Museum employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sailing 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, Sailing Museum generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.2% each year . All expenses for the organization totaled $845.9k during the year ending 12/2021. While expenses have increased by 4.0% 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 RECOGNIZE AND ENCOURAGE ACHIEVEMENT OF US SAILORS AND THE SPORT OF SAILING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH AN ANNUAL INDUCTION TO THE HALL OF FAME, THE ORGANIZATION RECOGNIZES THE OUTSTANDING ACHIEVEMENTS OF US SAILORS IN THREE CATEGORIES; SAILING, TECHNICAL AND CONTRIBUTOR; AND LEVERAGES THESE ACHIEVEMENTS TO INSPIRE NEW GENERATIONS OF SAILORS. THE ORGANIZATION PROVIDES SCIENCE, TECHNOLOGY, ENGINEERING AND MATH PROGRAMMING FREE OF CHARGE TO INSTRUCTORS IN BOTH FORMAL AND INFORMAL EDUCATIONAL SETTINGS.
IN MARCH 2019, THE SAILING MUSEUM OBTAINED REAL ESTATE IN NEWPORT, RHODE ISLAND TO CREATE A MUSEUM AND VENUE FOR ON-SITE LEARNING AND TO BUILD A SUSTAINABLE ENTERPRISE - LONGSTANDING VISIONS FOR THE ORGANIZATION. IN THIS HISTORIC BUILDING, SAILING HERITAGE WILL BE CELEBRATED, ITS LEGENDS HONORED, AND A NEW GENERATION OF SAILINGS AND INNOVATORS CULTIVATED. RENOVATIONS TO THIS FACILITY CONTINUED IN 2021. THE MUSEUM OFFICIALLY OPENED ON MAY 10, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Ruhsam Executive Director | Officer | 50 | $121,927 |
Gustav Carlson President | OfficerTrustee | 5 | $0 |
| OfficerTrustee | 5 | $0 | |
James A Hilton Sr Treasurer | OfficerTrustee | 5 | $0 |
Christopher L Otorowski Secretary | OfficerTrustee | 5 | $0 |
C Richard D'amato Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rlmg Media Work For Exhibits | 12/30/21 | $507,264 |
Healykohler Design Museum Exhibits Design | 12/30/21 | $150,988 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,095,466 |
| Noncash contributions included in lines 1a–1f | $414,487 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,095,466 |
| Total Program Service Revenue | $55,300 |
| Investment income | $0 |
| 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 | -$421 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,150,858 |
| 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. | $123,097 |
| Compensation of current officers, directors, key employees. | $19,457 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $217,373 |
| Pension plan accruals and contributions | $4,159 |
| Other employee benefits | $12,665 |
| Payroll taxes | $28,980 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,069 |
| Advertising and promotion | $51,424 |
| Office expenses | $24,452 |
| Information technology | $12,007 |
| Royalties | $0 |
| Occupancy | $73,896 |
| Travel | $14,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $399 |
| Interest | $39,258 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,065 |
| Insurance | $31,012 |
| All other expenses | $0 |
| Total functional expenses | $845,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,224,713 |
| Savings and temporary cash investments | $72,770 |
| Pledges and grants receivable | $2,045,092 |
| 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 | $48,255 |
| Prepaid expenses and deferred charges | $3,590 |
| Net Land, buildings, and equipment | $1,652,694 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,631,013 |
| Total assets | $12,678,127 |
| Accounts payable and accrued expenses | $450,605 |
| 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 | $2,806,574 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,257,179 |
| Net assets without donor restrictions | $7,352,056 |
| Net assets with donor restrictions | $2,068,892 |
| 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 | $12,678,127 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Sailing Hall Of Fame Museum Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Scrivan Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Maritime Aquarium At Norwalk Inc South Norwalk, CT | $19,089,489 | $11,308,442 |
Naismith Memorial Basketball Hall Of Fame Inc 1150 West Columbus Ave Springfield, MA | $33,159,743 | $5,379,532 |
Bruce Museum Inc Greenwich, CT | $42,027,905 | $8,121,476 |
Brant Foundation Inc Greenwich, CT | $0 | $5,637,610 |
Stamford Museum And Nature Center Incorporated Stamford, CT | $11,412,059 | $5,227,746 |
Trustees Of The Berkshire Museum Pittsfield, MA | $81,632,008 | $9,528,887 |
Uss Constitution Museum Inc Boston, MA | $13,690,451 | $5,109,219 |
Museum Of Afro American History Inc Boston, MA | $10,612,334 | $1,101,120 |
Uss Massachusetts Memorial Comm Inc Fall River, MA | $12,015,976 | $3,270,153 |
Knights Of Columbus Museum Inc New Haven, CT | $4,204,601 | $1,253,366 |