The Hydroplane And Raceboat Museum
- Assets
- $2.7m
- Revenue
- $890.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Kent, WA
- Founding
- 07/1984
- Data as of
- 12/2021
- EIN
- 91-1246282
Organization Overview
The Hydroplane And Raceboat Museum is located in Kent, WA. The organization was established in 1984. 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, Hydroplane And Raceboat Museum employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hydroplane And Raceboat 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, Hydroplane And Raceboat Museum generated $890.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $457.4k during the year ending 12/2021. While expenses have increased by 0.2% 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
PRESERVATION OF THE HISTORY OF BOAT RACING AND THE EDUCATION OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE OF MUSEUM FACILITY TO PRESERVE AND HOUSE HISTORICAL ITEMS FOR THE PUBLIC TO ENJOY.
FUNDING OF A YOUTH PROGRAM WHERE TEENAGERS AND ADULTS PARTICIPATE IN REBUILDING VINTAGE HYDROPLANES. APPROXIMATELY 13 TEENS AND 27 ADULTS PARTICIPATED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Williams Executive Director | 40 | $66,000 | |
Brad Haskin Director | Trustee | 1 | $0 |
Dr Kenneth Muscatel Director | Trustee | 1 | $0 |
Don Mock Vice President | Trustee | 1 | $0 |
Patrick Gleason Director | Trustee | 1 | $0 |
Gary Hansen President | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $74,315 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,698 |
| All other contributions, gifts, grants, and similar amounts not included above | $633,388 |
| Noncash contributions included in lines 1a–1f | $410,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $734,401 |
| Total Program Service Revenue | $59,003 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,667 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $52,475 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $48,979 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $890,196 |
| 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. | $66,000 |
| Compensation of current officers, directors, key employees. | $3,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,864 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,267 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,914 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $142,930 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,425 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,963 |
| Insurance | $8,750 |
| All other expenses | $54,152 |
| Total functional expenses | $457,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $296,414 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,526 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,235 |
| Prepaid expenses and deferred charges | $4,787 |
| Net Land, buildings, and equipment | $15,646 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,346,688 |
| Total assets | $2,744,296 |
| Accounts payable and accrued expenses | $28,086 |
| Grants payable | $0 |
| Deferred revenue | $170,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $391,813 |
| Total liabilities | $589,899 |
| Net assets without donor restrictions | $2,154,397 |
| 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 | $2,744,296 |