The Gloucester Adventure Inc
- Assets
- $2.4m
- Revenue
- $638.8k
- Investments
- $0.0
- Employees
- 10
- Location
- Gloucester, MA
- Founding
- 11/1992
- Data as of
- 12/2021
- EIN
- 04-3020719
Organization Overview
The Gloucester Adventure Inc is located in Gloucester, MA. The organization was established in 1992. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Gloucester Adventure Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gloucester Adventure 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, Gloucester Adventure Inc generated $638.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $734.1k during the year ending 12/2021. While expenses have increased by 1.8% 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
TO INFORM THE GENERAL PUBLIC ABOUT SCHOONERS AND THEIR PLACE IN HISTORY. FURTHER, THE PRESERVATION OF THE SCHOONER ADVENTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESERVE THE SCHOONER ADVENTURE AS A LIVING SYMBOL OF AMERICA'S MARITIME HERITAGE, AND AS A COMMUNITY RESOURCE FOR EDUCATIONAL PROGRAMMING FOCUSING ON MARITIME,CULTURAL, AND ENVIRONMENTAL ISSUES
TO PRESERVE THE SCHOONER ADVENTURE AS A LIVING SYMBOL OF AMERICA'S MARITIME HERITAGE, AND AS A COMMUNITY RESOURCE FOR EDUCATIONAL PROGRAMMING FOCUSING ON MARITIME,CULTURAL, AND ENVIRONMENTAL ISSUES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Morris President | OfficerTrustee | 10 | $0 |
Peter Madsen Vice President-Operations | OfficerTrustee | 5 | $0 |
Tom Dexter Secretary | OfficerTrustee | 2 | $0 |
David O'hara Director | Officer | 2 | $0 |
Peter Souza Director | Trustee | 8 | $0 |
William Whitney Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,067 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $449,583 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $457,650 |
| Total Program Service Revenue | $66,554 |
| Investment income | $943 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $114,355 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$692 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $638,810 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $277,078 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,333 |
| Payroll taxes | $23,085 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $380 |
| Fees for services: Accounting | $5,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,761 |
| Advertising and promotion | $10,672 |
| Office expenses | $3,626 |
| Information technology | $26,562 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $165,789 |
| Insurance | $52,399 |
| All other expenses | $12,689 |
| Total functional expenses | $734,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,827 |
| Savings and temporary cash investments | $35,427 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $455 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,055 |
| Prepaid expenses and deferred charges | $4,334 |
| Net Land, buildings, and equipment | $2,200,821 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200 |
| Total assets | $2,411,119 |
| Accounts payable and accrued expenses | $6,782 |
| 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 | $266,405 |
| Unsecured mortgages and notes payable | $149,900 |
| Other liabilities | $0 |
| Total liabilities | $423,087 |
| Net assets without donor restrictions | $1,953,501 |
| Net assets with donor restrictions | $34,531 |
| 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 | $2,411,119 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that The Gloucester Adventure Inc has recieved totaling $10,128.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $9,000 |
Godshalk Family Char Fdn U Agr 12232005 Investment Advisory Acct Boston, MA PURPOSE: GENERAL | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $78 |
Analog Devices Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society For The Preservation Of New England Antiquities Inc Boston, MA | $149,018,347 | $24,101,977 |
Museum Of Jewish Heritage A Living Memorial To The Holocaust New York, NY | $55,434,280 | $9,656,219 |
National Baseball Hall Of Fame And Museum Inc Cooperstown, NY | $59,891,798 | $13,912,990 |
Museum Of The City Of New York New York, NY | $66,852,822 | $13,898,529 |
Old Sturbridge Inc Sturbridge, MA | $21,603,377 | $13,063,304 |
Plimoth Patuxet Museums Inc Plymouth, MA | $39,663,068 | $8,933,676 |
Lower East Side Tenement Museum New York, NY | $36,923,048 | $8,687,426 |
Historic Deerfield Inc Deerfield, MA | $76,973,698 | $8,334,092 |
Heritage Plantation Of Sandwich Inc Sandwich, MA | $34,658,032 | $6,604,835 |
Genesee Country Museum Mumford, NY | $24,289,826 | $5,606,616 |
Fenimore Art Museum New York, NY | $63,527,114 | $3,838,046 |
Farmers Museum Inc New York, NY | $82,300,614 | $4,849,865 |