Maine Maritime Museum
- Assets
- $19.1m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 63
- Location
- Bath, ME
- Founding
- 05/1964
- Data as of
- 12/2021
- EIN
- 01-0271477
Organization Overview
Maine Maritime Museum is located in Bath, ME. The organization was established in 1964. 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, Maine Maritime Museum employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Maritime 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, Maine Maritime Museum generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. While expenses have increased by 2.9% 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
HISTORICAL AND EDUCATIONAL MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTIONS AND EXHIBITS - INCLUDES ALL ITEMS RELATING TO MARITIME HISTORY PRIMARILY IN MAINE. PAINTINGS AND OTHER ARTWORK, RIGGED MODELS, HALF HULLS, TOOLS USED IN MARITIME HISTORY, NAVIGATING EQUIPMENT, SHIP PARTS AND WATERCRAFT ON DISPLAY. EXHIBITS INCLUDE HISTORIC BUILDINGS AND PERIOD DISPLAYS OF MARITIME LIFE DURING THE LATE 1800'S. INCLUDES THE PRESERVATION OF BOTH NEW AND EXISTING DISPLAYS.EDUCATION & PUBLIC PROGRAMS LECTURE SERIES, SYMPOSIUMS, ADULT AND YOUTH CLASSES, SCHOOL PROGRAMS, SENIOR COLLEGE PROGRAMS, BOAT LECTURE CRUISES, SUMMER SHIPYARD ACTIVITIES, VOLUNTEER SUPPORT PROGRAMS, FAMILY PROGRAMS, MUSEUM TRIPS, SUMMER CAMPS, TROLLY TOURS OF BATH IRON WORKS, AND OTHER GUIDED TOURS ARE ALL PART OF THE EDUCATION AND PUBLIC PROGRAMS.MUSEUM GIFT SHOP - INVENTORY CONSISTS OF GIFT SHOP PRODUCTS FOR RESALE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Timm Executive Director | Officer | 40 | $70,189 |
Laura Burns Chair | OfficerTrustee | 2 | $0 |
Len Langer Secretary | OfficerTrustee | 2 | $0 |
Joe Drago Treasurer | OfficerTrustee | 2 | $0 |
Lincoln Paine Vice Chair | OfficerTrustee | 2 | $0 |
Barbara Burgess Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $260,278 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,605,945 |
| Noncash contributions included in lines 1a–1f | $77,283 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,889,563 |
| Total Program Service Revenue | $1,154,402 |
| Investment income | $89,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,820 |
| Net Gain/Loss on Asset Sales | $304,443 |
| Net Income from Fundraising Events | $17,179 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $147,643 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,611,205 |
| 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. | $93,759 |
| Compensation of current officers, directors, key employees. | $46,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,176,137 |
| Pension plan accruals and contributions | $55,482 |
| Other employee benefits | $105,286 |
| Payroll taxes | $102,153 |
| 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 | $315,640 |
| Advertising and promotion | $106,158 |
| Office expenses | $11,608 |
| Information technology | $89,959 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,157 |
| Interest | $5,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $579,649 |
| Insurance | $67,490 |
| All other expenses | $32,024 |
| Total functional expenses | $3,147,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $653,001 |
| Pledges and grants receivable | $59,984 |
| 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 | $60,864 |
| Prepaid expenses and deferred charges | $199,838 |
| Net Land, buildings, and equipment | $8,471,776 |
| Investments—publicly traded securities | $9,131,015 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $570,821 |
| Total assets | $19,147,299 |
| Accounts payable and accrued expenses | $246,207 |
| Grants payable | $0 |
| Deferred revenue | $63,015 |
| 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 | $206,532 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $515,754 |
| Net assets without donor restrictions | $10,798,548 |
| Net assets with donor restrictions | $7,832,997 |
| 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 | $19,147,299 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Maine Maritime Museum has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Merrymeeting Bay Tr Arrowsic, ME PURPOSE: Vessel Maintenance | $50,000 |
Endowment Analysis
| Beg. Balance | $7,968,403 |
| Earnings | $1,128,157 |
| Other Expense | $485,985 |
| Ending Balance | $8,610,575 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maine Maritime Museum Bath, ME | $19,147,299 | $3,611,205 |
Maine Mineral & Gem Museum Bethel, ME | $14,617,603 | $769,092 |
Canterbury Shaker Village Inc Canterbury, NH | $3,241,019 | $1,688,271 |
Penobscot Marine Museum Searsport, ME | $8,277,134 | $1,504,211 |
Sailing Ships Portland Portland, ME | $252,695 | $803,946 |
Abbe Museum Bar Harbor, ME | $4,804,812 | $816,686 |
Chosen Vale Inc Enfield, NH | $3,466,183 | $1,051,971 |
New England Ski Museum Franconia, NH | $1,811,111 | $345,656 |
Moosehead Marine Museum Inc Greenville, ME | $2,433,477 | $495,523 |
Seal Cove Auto Museum Seal Cove, ME | $959,876 | $735,715 |
Americas Credit Union Museum Foundation Manchester, NH | $2,650,235 | $258,089 |
Marine Mammals Of Maine Bath, ME | $177,477 | $377,561 |