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 12/2022, Steamer Virginia V Foundation Inc employed 10 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 12/2022, Steamer Virginia V Foundation Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $622.2k during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 6 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

2022

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: ON JULY 2, 2022, VIRGINIA V DEPARTED THE SHIPYARD AFTER 16-1/2 MONTHS, INCLUDING 15-1/2 MONTHS IN THE DRYDOCK FOR STRUCTURAL RENEWALS TO THE HULL. COMPLETING REMOVAL OF DECAYED WOOD AND INSTALLATION OF REPLACEMENTS BEGUN IN 2021, THE SHIPYARD REPLACED THE STEM, 82 SECTIONS OF PLANKING TOTAL, SECTIONS OF THREE CLAMPS (LONGITUDINAL, STRUCTURAL TIMBERS ON THE INSIDE OF THE HULL), THE GUARDS ON BOTH SIDES FORWARD OF THE CARGO DOORS, AND ALL OR PORTIONS OF THE FRAMES ALONG THE LENGTH OF THE STARBOARD SIDE AND THE FORWARD ONE-THIRD OF THE PORT SIDE. ALL NEW WOOD IS FIRST GROWTH DOUGLAS FIR, THE SAME AS USED WHEN THE SHIP WAS CONSTRUCTED IN 1922. ALL HULL SEAMS, NEW AND EXISTING, WERE REEFED AND RE-CAULKED WITH TWO ROWS OF COTTON, TWO ROWS OF OAKUM, AND A LAYER OF PORTLAND CEMENT. THE YARD ALSO REPAINTED THE HULL AND EXTERIOR OF THE DECK HOUSE, WHILE SHIP'S CREW REPAINTED TOPSIDE TRIM AND A PORTION OF THE BOAT DECK. AT THE DIRECTION OF THE US COAST GUARD, A STABILITY STUDY WAS CONDUCTED ON THE VESSEL AFTER THE DRYDOCKING TO ACCOUNT FOR ANY CHANGES FROM MODIFICATIONS OVER THE LAST 20 YEARS. IN ADDITION, THE FOUNDATION MADE PRELIMINARY ARRANGEMENTS WITH THE USCG TO CONDUCT AN ALTERNATE HULL EXAMINATION BY DIVER IN LIEU OF SCHEDULED HAUL-OUT IN 2023. UNDERWATER HULL FITTINGS WERE ALL CAREFULLY MARKED TO FACILITATE THIS INSPECTION. ON THE ENGINEERING SIDE, INSTALLATION OF THE ISOLATION TRANSFORMER WAS COMPLETED, WHICH PROVIDES PROTECTION FROM ELECTROLYSIS DAMAGE TO METAL HULL FITTINGS, AND ELIMINATES A POTENTIAL SAFETY HAZARD FROM STRAY ELECTRICAL CURRENTS ENTERING THE WATER SURROUNDING THE VESSEL. THE TANKLESS HOT WATER HEATER INSTALLATION WAS ALSO PLACED IN SERVICE AFTER FINAL TESTING AND APPROVAL BY THE USCG. THE DIRECTOR OF ENGINEERING CONDUCTED WEEKLY WORK PARTIES BY VOLUNTEERS AND EMPLOYEES THROUGHOUT THE YEAR, USUALLY TWICE WEEKLY WHILE THE SHIP WAS STILL AT THE YARD. ACCOMPLISHMENTS INCLUDED: COMPLETION OF 99 MAINTENANCE-AND-REPAIR ITEMS FROM THE SHIP'S 5-YEAR PLANNED MAINTENANCE SCHEDULE; HYDROSTATIC TESTING OF THE SHIP'S BOILER; DETAILED PREPARATIONS FOR THE SHIP'S CG INSPECTION; REPLACEMENT OF THE ELECTRIC STANDBY FIRE PUMP; INSTALLATION OF A BOILER-WATER-SAMPLE COOLER; A COMPLETE INVENTORY OF SPARE PARTS; AND PERFORMANCE OF ALL ROUTINE MAINTENANCE AND REPAIRS. OVER 1,700 HOURS OF VOLUNTEER TIME WERE DEVOTED TO THESE EFFORTS. IN ADDITION TO CURRENT-YEAR EXPENSES NOTED, THE FOUNDATION ACCRUED 2022 CAPITAL EXPENDITURES OF $625,258 FOR STRUCTURAL WORK ON THE HULL AND $4,039 FOR COMPLETION OF THE ISOLATION TRANSFORMER INSTALLATION. THE FOUNDATION ALSO SPENT $24,569 TO ACQUIRE LUMBER FOR FUTURE STRUCTURAL WORK. CURRENT-YEAR EXPENSES INCLUDE 50% OF REPORTED DEPRECIATION.


OPERATION: VIRGINIA V WAS BUILT IN 1922 AND IS THE ONLY TRADITIONAL WOODEN FREIGHT-AND-PASSENGER SHIP REGULARLY OPERATING UNDER STEAM ON THE TIDAL WATERS OF THE UNITED STATES. THE SHIP SAILED FOR TRAINING ON 6/25/22, PASSED ITS UNDERWAY US COAST GUARD INSPECTION ON 6/27, DEPARTED THE SHIPYARD 7/2/22, AND RETURNED TO FULL REVENUE SERVICE 7/9/22 FOR THE FIRST TIME SINCE SEPTEMBER 2020. THE SHIP CONDUCTED 56 DISCRETE VOYAGES WHILE UNDERWAY ON 39 DAYS, CARRYING A TOTAL OF 2,750 PASSENGERS ON 26 CHARTERS AND 12 PUBLIC CRUISES. CREW WERE MOSTLY VOLUNTEERS, ACCRUING APPROXIMATELY 3,800 HOURS OF SERVICE DURING THE SEASON. EXPENSES INCLUDE 50% OF REPORTED DEPRECIATION.


INTERPRETATION/EDUCATION: WITH THE SHIPYARD TIME CONCLUDED AND COVID RESTRICTIONS LIFTED, VIRGINIA V WAS AGAIN AVAILABLE TO THE PUBLIC STARTING IN JULY 2022. THE SHIP HOSTED APPROXIMATELY 3,500 PEOPLE ON 43 DAYS OF OPEN-SHIP PERIODS AT LAKE UNION PARK IN SEATTLE, AND AT TACOMA, LONGBRANCH AND OLYMPIA, WASHINGTON WHEN THE SHIP VISITED THOSE PORTS. OUR SENIOR DOCENT AND VOLUNTEERS LED GUIDED TOURS FOR ALMOST ALL THESE OCCASIONS, ACQUAINTING VISITORS WITH THE SHIP AND THE HISTORY OF THE PUGET SOUND MOSQUITO FLEET. DURING 38 REVENUE CRUISES AND 11 DOCKSIDE EVENTS, THE SHIP WELCOMED OVER 3,200 PASSENGERS AND OTHER GUESTS. CREW ROUTINELY ENGAGED PASSENGERS TO TELL THE SHIP'S STORY OR DESCRIBE ITS OPERATION. THE SHIP'S STEAM ENGINE REMAINS FULLY VISIBLE TO PASSENGERS. ENGINEERING CREW PROVIDED DETAILED INTERPRETATION OF THIS ARTIFACT, IN SERVICE SINCE 1915, AND OUR CAPTAINS WELCOMED PASSENGERS INTO THE WHEELHOUSE WHEN THE SAFETY OF VESSEL OPERATION PERMITTED. FOUNDATION STAFF AND VOLUNTEERS REVEL IN SHARING THE SHIP AND DID SO AT EVERY OPPORTUNITY. THE FOUNDATION ALSO RESUMED ITS SUMMER INTERNSHIP PROGRAM FOR HIGH SCHOOLERS, HIRING THREE STUDENTS TO WORK ON THE SHIP IN CREW CAPACITIES ON DECK AND IN THE ENGINE ROOM. THE SHIP CONDUCTED ONE STUDENT CRUISE FOR HIGH SCHOOL STUDENTS TO LEARN ABOUT OPPORTUNITIES IN MARITIME EDUCATION AND CAREERS, AND HAVE HANDS-ON EXPERIENCES STEERING THE SHIP, OPERATING THE ENGINE, AND USING EMERGENCY EQUIPMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Debra Alderman
Executive Director
$82,500
Jeffrey Deren
Director
$9,000
Nina Marie Altman
President
$0
Garret Holt
Vice President
$0
David Allais
Treasurer
$0
Douglas Weeks
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$11,050
Fundraising events$0
Related organizations$0
Government grants $328,364
All other contributions, gifts, grants, and similar amounts not included above$617,391
Noncash contributions included in lines 1a–1f $103,859
Total Revenue from Contributions, Gifts, Grants & Similar$956,805
Total Program Service Revenue$176,686
Investment income $889
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 $4,157
Miscellaneous Revenue$0
Total Revenue $1,138,537

Peer Organizations

Organization NameAssets
Historical Society Of Seattle & King County
Seattle, WA
$15,718,441
Eastern Washington State Historical Society
Spokane, WA
$5,752,279
Museum Of Idaho Inc
Idaho Falls, ID
$1,577,164
United States Lighthouse Society Inc
Hansville, WA
$2,160,778
Pioneer Courthouse Square Of Portland Inc
Portland, OR
$2,323,243
The Northwest Railway Museum
Snoqualmie, WA
$2,413,492
Restore Oregon Inc
Portland, OR
$523,388
Old Church Society Inc
Portland, OR
$923,799
Clatsop County Historical Society Inc
Astoria, OR
$1,049,325
Grays Harbor Historical Seaport Authority
Aberdeen, WA
$1,195,810
Jefferson County Historical Society
Port Townsend, WA
$1,123,283
Gig Harbor Peninsula Historical Society
Gig Harbor, WA
$845,452
Arlington Club Heritage Foundation
Portland, OR
$244,933
Fort Walla Walla Museum Walla Walla Valley Historical Society
Walla Walla, WA
$611,870
Coos County Historical Society
Coos Bay, OR
$335,991
Steamer Virginia V Foundation Inc
Seattle, WA
$1,138,537
Southern Oregon Historical Society
Medford, OR
$830,379
Washington County Historical Society
Portland, OR
$518,585
Alutiiq Heritage Endowment Trust Inc
Anchorage, AK
$49,804
Lincoln County Historical Society
Newport, OR
$445,128
Kodiak Historical Society
Kodiak, AK
$422,338
Washington State Jewish Historical Society
Mercer Island, WA
$743,650
Great Northern Railway Historical Society
Seattle, WA
$426,260
Skagit County Historical Society
Laconner, WA
$349,314
Bainbridge Island Historical Society
Bainbridge Island, WA
$420,577

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