Penobscot Marine Museum
- Assets
- $8.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 23
- Location
- Searsport, ME
- Founding
- 04/1940
- Data as of
- 03/2022
- EIN
- 01-6015647
Organization Overview
Penobscot Marine Museum is located in Searsport, ME. The organization was established in 1940. 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 03/2022, Penobscot Marine Museum employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penobscot Marine 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 03/2022, Penobscot Marine Museum generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $1.1m during the year ending 03/2022. While expenses have increased by 1.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE PENOBSCOT MARINE MUSEUM IS TO PRESERVE, INTERPRET AND CELEBRATE THE MARITIME CULTURE OF THE PENOBSCOT BAY REGION AND BEYOND THROUGH COLLECTIONS, EDUCATION AND COMMUNITY ENGAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CURATORIAL DEPARTMENT OCCUPIES PORTIONS OF 13 BUILDINGS, WHICH HOUSE THE MUSEUM'S COLLECTION OF APPROXIMATELY 10,000 ARTIFACTS. THOSE ITEMS NOT DISPLAYED ARE STORED IN A SECURE CLIMATE CONTROLLED ENVIRONMENT. A COMPUTERIZED DATABASE IS USED TO MANAGE THE ARTIFACTS. THE LIBRARY HOUSES A COLLECTION OF OVER 12,000 BOOKS INCLUDING PAMPHLETS, DOCUMENTS, ORIGINAL CORRESPONDENCE AND GENEALOGICAL RECORDS. THE LIBRARY PHOTOGRAPHIC COLLECTION CONTAINS OVER 300,000 IMAGES OF MARITIME AND REGIONAL PHOTOGRAPHS. ALL LIBRARY COLLECTIONS ARE HOUSED IN A 4,500 SQ FT CLIMATE CONTROLLED BUILDING. LIBRARY COLLECTIONS ARE AVAILABLE FOR RESEARCH, AND THE MAJORITY OF PHOTOGRAPHS IN THE COLLECTION HAVE BEEN DIGITIZED AND MADE AVAILABLE THROUGH A SEARCHABLE ONLINE DATABASE. NEARLY 6,000 VISITORS TOURED THE MUSEUM THIS YEAR. BOTH CHANGING AND TRAVELING EXHIBITS ARE DEVELOPED AND PROMOTED EACH YEAR.
THE EDUCATION DEPARTMENT OFFERS PROGRAMS THROUGHOUT THE YEAR THAT ENGAGE LEARNERS OF ALL AGES WITH THE MUSEUM'S MISSION. ONE CAMPUS BUILDING IS SPECIFICALLY DESIGNATED AS AN INTERACTIVE LEARNING AND ACTIVITY AREA, AND HANDS-ON COMPONENTS ARE BUILT INTO OTHER EXHIBITS AS WELL. THE EDUCATION DEPARTMENT OFFERS LECTURE SERIES, HANDS-ON WORKSHOPS, SCHOOL FIELD TRIPS, GUIDED TOURS, AND COMMUNITY OUTREACH. THE MUSEUM ALSO HAS A DEDICATED EDUCATION WEBSITE FOR MAINE STUDENTS AND EDUCATORS THAT INCLUDES A DETAILED ALIGNMENT OF THE MAINE EDUCATIONAL STANDARDS WITH MUSEUM CONTENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Smith Executive Di | Officer | 40 | $83,096 |
Dan Bookham Treasurer | OfficerTrustee | 2 | $0 |
Jon Johansen President | OfficerTrustee | 2 | $0 |
Deirdre H Henderson Secretary | OfficerTrustee | 1 | $0 |
Wayne Hamilton Trustee | Trustee | 1 | $0 |
Captain Daniel Parrott Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,490 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $112,482 |
| All other contributions, gifts, grants, and similar amounts not included above | $694,144 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $825,116 |
| Total Program Service Revenue | $69,299 |
| Investment income | $169,035 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $401,631 |
| Net Income from Fundraising Events | $9,800 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $29,330 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,504,211 |
| 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. | $105,217 |
| Compensation of current officers, directors, key employees. | $52,608 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $428,480 |
| Pension plan accruals and contributions | $8,303 |
| Other employee benefits | $44,452 |
| Payroll taxes | $39,451 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,930 |
| Fees for services: Other | $103,676 |
| Advertising and promotion | $1,195 |
| Office expenses | $25,957 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,956 |
| Travel | $1,458 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,554 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,878 |
| Insurance | $50,231 |
| All other expenses | $371 |
| Total functional expenses | $1,073,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,747 |
| Savings and temporary cash investments | $576,709 |
| Pledges and grants receivable | $0 |
| 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 | $26,781 |
| Prepaid expenses and deferred charges | $11,519 |
| Net Land, buildings, and equipment | $2,258,540 |
| Investments—publicly traded securities | $4,515,499 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $864,339 |
| Total assets | $8,277,134 |
| Accounts payable and accrued expenses | $101,743 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $180,832 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $65,000 |
| Total liabilities | $347,575 |
| Net assets without donor restrictions | $4,176,742 |
| Net assets with donor restrictions | $3,752,817 |
| 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 | $8,277,134 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Penobscot Marine Museum has recieved totaling $154,369.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: History Museums, Education, COVID-19 Related Assistance | $46,370 |
Richard Saltonstall Charitable Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $40,000 |
The Moosemoss Foundation Boston, MA PURPOSE: TO BE USED FOR GENERAL PURPOSES OF THE CHARITY. | $22,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $13,200 |
Mildred H Mcevoy Foundation Worcester, MA PURPOSE: PHOTOGRAPHS | $10,000 |
Lucia P Fulton Foundation Boston, MA PURPOSE: FOR GENERAL USE BY CHARITY | $9,000 |
Endowment Analysis
| Beg. Balance | $4,158,774 |
| Earnings | $336,091 |
| Other Expense | $213,004 |
| Ending Balance | $4,281,861 |
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 |