National Sailing Hall Of Fame Museum Inc
- Assets
- $11.5m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 15
- Location
- Newport, RI
- Founding
- 07/2004
- Data as of
- 12/2022
- 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 12/2022, Sailing Museum employed 15 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 12/2022, Sailing Museum generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 15.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RECOGNIZE AND ENCOURAGE ACHIEVEMENT OF US SAILORS AND THE SPORT OF SAILING, AND TO INSPIRE AND CULTIVATE SCHOLASTIC AND LIFE SKILLS LEARNING THROUGH THE MUSEUM AND HALL OF FAME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM: IN MARCH 2019, THE SAILING MUSEUM PURCHASED REAL ESTATE IN NEWPORT, RI TO CREATE A MUSEUM AND VENUE FOR ON-SITE LEARNING AND TO BUILD A SUSTAINABLE ENTERPRISE - LONGSTANDING VISIONS FOR THE ORGANIZATION. IN MAY 2022, THE SAILING MUSEUM OPENED IT'S DOORS TO THE PUBLIC. IN THIS HISTORIC BUILDING THE HERITAGE OF SAILING HERITAGE IS CELEBRATED, IT'S LEGENDS HONORED, AND NEW GENERATIONS OF SAILORS AND INNOVATORS CULTIVATED. THE MUSEUM IS A WELCOMING AND INCLUSIVE ACCESS POINT FOR ALL TO LEARN ABOUT THE SPORT OF SAILING THROUGH IMMERSIVE AND INTERACTIVE EXHIBITS.
EDUCATIONAL PROGRAMS & INDUCTION: THE MULTIMEDIA EXPERIENCE AT THE SAILING MUSEUM PROVIDES A PLATFORM FOR STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH) PROGRAMMING FOR CHILDREN AND ADULTS ALIKE. ACTIVITIES IN 2022 PRIMARILY FOCUSED ON THE MUSEUM EXPERIENCE WITH ONE SEMESTER HELD, AS A PROGRAMMING SCHEDULE FOR 2023 WAS DEVELOPED. 2023 PROGRAMMING WILL INCLUDE IN-PERSON, ONLINE, AND IN-SCHOOL ACTIVITIES. STEM PROGRAMMING IS PROVIDED FREE OF CHARGE TO INSTRUCTORS IN BOTH FORMAL INFORMAL EDUCATIONAL SETTINGS. ALSO, THROUGH AN ANNUAL INDUCTION TO THE HALL OF FAME, THE MUSEUM RECOGNIZES THE OUTSTANDING ACHIEVEMENTS OF U.S. SAILORS IN THREE CATEGORIES (SAILING, TECHNICAL AND CONTRIBUTOR), AND LEVERAGES THESE ACHIEVEMENTS TO INSPIRE NEW GENERATIONS OF SAILORS. THE MUSEUM PROVIDES STEM PROGRAMMING FREE OF CHARGE TO INSTRUCTORS IN BOTH FORMAN AND INFORMAL SETTINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Ruhsam Executive Director | Officer | 50 | $151,917 |
Gus Garlson President Through November | OfficerTrustee | 5 | $0 |
Gary Jobson Co-Pres. Start November | OfficerTrustee | 5 | $0 |
| OfficerTrustee | 5 | $0 | |
Christopher L Otorowski Secretary | OfficerTrustee | 5 | $0 |
Tom Stark Treasurer Start November | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healykohler Design Museum Exhibits Design | 12/30/22 | $102,065 |
Rlmg Media Work For Exhibits | 12/30/22 | $255,166 |
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 | $1,168,007 |
| Noncash contributions included in lines 1a–1f | $4,112 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,168,007 |
| Total Program Service Revenue | $204,216 |
| Investment income | $336 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $68,304 |
| 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 | -$39,503 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,401,815 |
| 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. | $174,292 |
| Compensation of current officers, directors, key employees. | $26,144 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $339,293 |
| Pension plan accruals and contributions | $5,157 |
| Other employee benefits | $16,481 |
| Payroll taxes | $39,700 |
| 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 | $84,493 |
| Advertising and promotion | $121,305 |
| Office expenses | $40,045 |
| Information technology | $25,069 |
| Royalties | $0 |
| Occupancy | $133,209 |
| Travel | $8,804 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,774 |
| Interest | $138,214 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $613,128 |
| Insurance | $56,580 |
| All other expenses | $14,211 |
| Total functional expenses | $2,024,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $852,709 |
| Savings and temporary cash investments | $73,106 |
| Pledges and grants receivable | $1,681,446 |
| 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 | $97,026 |
| Prepaid expenses and deferred charges | $17,542 |
| Net Land, buildings, and equipment | $8,807,257 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,928 |
| Total assets | $11,548,014 |
| Accounts payable and accrued expenses | $162,460 |
| Grants payable | $0 |
| Deferred revenue | $239 |
| 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 | $2,536,779 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,374 |
| Total liabilities | $2,706,852 |
| Net assets without donor restrictions | $7,136,664 |
| Net assets with donor restrictions | $1,704,498 |
| 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 | $11,548,014 |