Steamer Virginia V Foundation Inc

Organization Overview

Steamer Virginia V Foundation Inc is located in Seattle, WA. The organization was established in 1977. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Steamer Virginia V Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steamer Virginia V Foundation Inc 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, Steamer Virginia V Foundation Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $701.2k during the year ending 12/2021. While expenses have increased by 3.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

RESTORATION, PRESERVATION, OPERATION, AND INTERPRETATION OF THE NATIONAL HISTORIC LANDMARK VESSEL STEAMER VIRGINIA V, THE LARGEST OPERATIONAL WOODEN STEAMBOAT IN THE UNITED STATES. THE VESSEL IS USED FOR PUBLIC EVENTS, EDUCATION PROGRAMS, AND PRIVATE CHARTERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RESTORATION/PRESERVATION: VIRGINIA V WAS HAULED OUT OF THE WATER ON FEBRUARY 16, 2021 TO MEET ITS ROUTINE COAST GUARD INSPECTION REQUIREMENT, AND TO PERFORM STRUCTURAL WORK NEEDED TO REPLACE DECAYED TIMBERS IN THE HULL, PRIMARILY IN THE PORT BOW. WITH INCREMENTAL PLANK REMOVALS AND INSPECTIONS, THE SCOPE OF THIS WORK GREW SUBSTANTIALLY AS PROGRESSIVELY MORE FUNGUS ROT WAS FOUND, REQUIRING THAT AFFECTED TIMBERS BE REMOVED. ULTIMATELY, IT WAS NECESSARY TO REPLACE ALL BOW PLANKS ON BOTH SIDES, MOST BOW FUTTOCKS, THE STEM, EXTENSIVE PLANKING ON THE STARBOARD SIDE AFT TO AND INCLUDING THE STARBOARD SIDE OF THE TRANSOM, MANY FUTTOCKS ALONG THE FULL LENGTH OF THE SHIP'S STARBOARD SIDE, AND A SMALL NUMBER OF PLANKS AND FUTTOCKS ALONG THE PORT SIDE AMIDSHIPS AND TOWARD THE STERN. BY YEAR-END, SHIPWRIGHTS HAD INSTALLED THE NEW STEM, APPROXIMATELY 50 NEW HULL PLANKS, FIVE TRANSOM PLANKS, AND FUTTOCKS IN OVER 60 FRAMES, ABOUT 20 OF WHICH WERE COMPLETELY RENEWED. WORK REMAINED ONGOING. WHILE THE SHIP WAS OUT OF THE WATER, THE DIRECTOR OF ENGINEERING ORGANIZED WORK PARTIES, USUALLY TWICE A WEEK, OF MOSTLY VOLUNTEERS TO PERFORM A SPECTRUM OF INSPECTIONS, ROUTINE MAINTENANCE, AND REPAIRS TO PROPULSION AND AUXILIARY MACHINERY AND OTHER SHIP'S ELECTRICAL AND HABITABILITY SYSTEMS. HIGHLIGHTS INCLUDE INSPECTION OF ALL SEA VALVES AND THROUGH-HULL FITTINGS, BOILER INTERNALS, MAIN ENGINE BEARINGS, THRUST BEARING, RUDDER BEARINGS, AND TAILSHAFT; REPLACEMENT OF BOILER WATER GAUGES AND GAUGE-ISOLATION VALVES; REBUILD OF SEA-WATER CIRCULATION-PUMP ENGINE; ELECTRICAL INSPECTION OF 11 AUXILIARY MOTORS AND THE DOMESTIC HOT WATER HEATER, AND CORRECTION OF IDENTIFIED DISCREPANCIES; INSPECTION OF INTERNAL COATINGS OF FIVE WATER AND HOLDING TANKS, AND COMPLETE RECOATING OF THE HOTWELL AND SPOT RECOATING OF THE POTABLE WATER TANK. WORK WAS COMPLETED ON THE MULTI-YEAR INSTALLATION OF THE TANKLESS HOT WATER SPACE HEATING SYSTEM, AND ACQUISITION INITIATED FOR THE ISOLATION TRANSFORMER INSTALLATION TO CORRECT THE SAFETY AND PRESERVATION PROBLEMS ASSOCIATED WITH STRAY ELECTRICAL CURRENTS FROM THE SHIP. EXPENSES INCLUDE 50% OF REPORTED DEPRECIATION, AND THE DEPRECIATED VALUE OF 2013 BETTERMENTS REMOVED FROM THE SHIP TO FACILITATE 2021 WORK. IN ADDITION TO CURRENT-YEAR EXPENSES NOTED, THE FOUNDATION ACCRUED 2021 CAPITAL EXPENDITURES OF $1,152,450 FOR STRUCTURAL WORK ON THE HULL, AND $3,056 FOR THE HEATING PROJECT AND ISOLATION TRANSFORMER. THE FOUNDATION ACQUIRED PLANKING STOCK THROUGH DONATION VALUED AT $50,142, AND MADE ADDITIONAL WOOD PURCHASES OF $23,958 TO SUPPORT WORK IN 2021 AND 2022. TIMBER VALUED AT $89,304 WAS INSTALLED FROM INVENTORY AND THESE ACQUISITIONS.


OPERATION: VIRGINIA V STEAMED TO PACIFIC FISHERMEN SHIPYARD ON FEBRUARY 15, 2021 FOR THE ROUTINE, BIENNIAL DRYDOCKING NOTED ABOVE. A SUMMERTIME RETURN TO OPERATION WAS ORIGINALLY EXPECTED, BUT THE SCOPE OF WORK GREW SEVERAL TIMES, AND THE SHIP REMAINED DRYDOCKED AT THE END OF THE YEAR. NUMEROUS PLANNED TRIPS WERE CANCELLED OR RESCHEDULED FOR 2022. THE FOUNDATION MAINTAINED A POOL OF CREW SUBJECT TO RANDOM DRUG TESTING THROUGHOUT THIS PERIOD, IN ACCORDANCE WITH USCG REQUIREMENTS. THERE WERE NO EARNED REVENUES THIS YEAR. EXPENSES INCLUDE 50% OF REPORTED DEPRECIATION.


INTERPRETATION/EDUCATION: THE COVID PANDEMIC LIMITED OPEN-SHIP VISITATION WHILE VIRGINIA V WAS AT LAKE UNION PARK IN JANUARY AND FEBRUARY, AND THE SHIP WAS ESSENTIALLY CLOSED TO THE PUBLIC WHILE DRYDOCKED. THE FOUNDATION DID HOST SEVERAL SMALL-GROUP TOURS OF THE VESSEL DURING THIS PERIOD FOR PEOPLE WITH A PARTICULAR INTEREST IN THE SHIP AND THE WORK BEING DONE, AS WELL AS THOSE VISITING PACIFIC FISHERMEN FOR EVENTS THAT THE SHIPYARD HOSTED. E-NEWSLETTERS WERE SENT OUT TEN TIMES DURING THE YEAR. FOUNDATION STAFF AND VOLUNTEERS CONTINUED THROUGHOUT THE YEAR TO FULFILL THE INTERPRETIVE PORTION OF OUR MISSION BY CONTRIBUTING TO HERITAGE AND CULTURE EVENTS IN THE COMMUNITY AND ONLINE. EXAMPLES INCLUDED OUR SENIOR DOCENT GIVING TALKS ABOUT THE SHIP'S HISTORY VIA ZOOM FOR PUBLIC AND PRIVATE GROUPS, AND PARTICIPATING IN A LIVE PANEL DISCUSSION ABOUT THE HISTORY OF VIRGINIA V AND OTHER SHIPS MOORED AT THE HISTORIC SHIP'S WHARF IN SEATTLE. OUR STAFF ENGAGED IN COLLABORATIVE ACTIVITIES INCLUDING OUR EXECUTIVE DIRECTOR'S PARTICIPATION IN A TASK FORCE PLANNING THE WASHINGTON STATE NATIONAL MARITIME HERITAGE AREA AND REGULARLY ATTENDING MEETINGS OF THE PORT OF SEATTLE'S YOUTH MARITIME COLLABORATIVE. DURING THE FINAL MONTHS OF THE YEAR, OUR STAFF AND VOLUNTEERS BEGAN THE PLANNING FOR THE SHIP'S 2022 CENTENNIAL CELEBRATION. WHILE WE WERE UNABLE TO OFFER OUR SUMMER MARITIME INTERNSHIP PROGRAM WHILE THE SHIP WAS DRYDOCKED, WE DID PROVIDE A VOLUNTEER OPPORTUNITY FOR A HIGH SCHOOL SENIOR WHO CONTRIBUTED 24 HOURS OF SERVICE UNDER THE SUPERVISION OF OUR EXPERIENCED MARINE ENGINEERS.


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Board, Officers & Key Employees

Name (title)Compensation
Debra Alderman
Executive Director
$73,678
Douglas Weeks
Secretary
$0
David Allais
Treasurer
$0
Garret Holt
Vice President
$0
Nina Marie Altman
President
$0
Grant Johnson
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$10,250
Fundraising events$0
Related organizations$0
Government grants $316,169
All other contributions, gifts, grants, and similar amounts not included above$837,119
Noncash contributions included in lines 1a–1f $325,892
Total Revenue from Contributions, Gifts, Grants & Similar$1,163,538
Total Program Service Revenue$0
Investment income $81
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 -$9
Miscellaneous Revenue$0
Total Revenue $1,163,610

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Steamer Virginia V Foundation Inc has recieved totaling $80,174.

Awarding OrganizationAmount
M J Murdock Charitable Trust

Vancouver, WA

PURPOSE: CAPITAL IMPROVEMENT

$50,000
M J Murdock Charitable Trust

Vancouver, WA

PURPOSE: CAPITAL IMPROVEMENT

$30,000
Puget Sound Energy Foundation

Wilmington, DE

PURPOSE: EMPLOYEE MATCHING PROGRAM - GENERAL OPERATIONS

$150
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$24
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$650
Ending Balance$650

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