Finger Lakes Boating Museum
- Assets
- $1.7m
- Revenue
- $632.6k
- Investments
- $0.0
- Employees
- 12
- Location
- Hammondsport, NY
- Founding
- 10/2000
- Data as of
- 12/2021
- EIN
- 16-1542277
Organization Overview
Finger Lakes Boating Museum is located in Hammondsport, NY. The organization was established in 2000. 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, Finger Lakes Boating Museum employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finger Lakes Boating 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, Finger Lakes Boating Museum generated $632.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $466.8k during the year ending 12/2021. While expenses have increased by 14.5% 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 COLLECT, PRESERVE, AND INTERPRET OBJECTS RELATED TO BOATING AND BOATING HISTORY ORIGINATING IN OR OTHERWISE ASSOCIATED WITH THE FINGER LAKES REGION. ALSO, TO RESEARCH, DOCUMENT, AND DISSEMINATE INFORMATION ON BOATS, BOATING AND BOATING HISTORY ORIGINATING IN OR OTHERWISE ASSOCIATED WITH THE FINGER LAKES REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FINGER LAKES BOATING MUSEUM (FLBM) COLLECTS, PRESERVES BOATS AND THE BOATING HISTORY OF THE FINGER LAKES. THE MUSEUM OFFERS A WIDE RANGE OF EDUCATIONAL OPPORTUNITIES SURROUNDING BOATING AND BOAT BUILDING. WITH A PARTICULAR EMPHASIS ON THE FINGER LAKES REGION OF UPSTATE, NEW YORK, THE FLBM CONDUCTS COURSES, WORKSHOPS, DEMONSTRATIONS, LECTURES, AND EXHIBITS ON THE RICH HISTORY OF BOATING AND BOAT BUILDING IN THE 14 COUNTY AREA. THE FLBM COLLECTION HOUSES OVER 200 FINGER LAKES-BUILT BOATS AND NUMEROUS BOATING EPHEMERA. AREA SCHOOL DISTRICTS AVAIL THEMSELVES OF SPECIAL STUDENT PROGRAMS WITH MULTIPLE FIELD TRIPS PER YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Tompkins Executive Director | Officer | 40 | $34,840 |
Phil Walker Vice President | OfficerTrustee | 2 | $0 |
Dave Bornholdt Secretary | OfficerTrustee | 5 | $0 |
Kathy Venema President | OfficerTrustee | 5 | $0 |
Lorraine Manelis Treasurer | OfficerTrustee | 15 | $0 |
Pam Gratzer Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $408,254 |
| Noncash contributions included in lines 1a–1f | $146,709 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $408,754 |
| Total Program Service Revenue | $153,685 |
| Investment income | $2,294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,450 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,311 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,244 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $632,589 |
| 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. | $35,885 |
| Compensation of current officers, directors, key employees. | $3,588 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,523 |
| Pension plan accruals and contributions | $1,383 |
| Other employee benefits | $1,339 |
| Payroll taxes | $7,968 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,138 |
| Fees for services: Accounting | $2,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,283 |
| Advertising and promotion | $15,171 |
| Office expenses | $43,814 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $195,819 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,401 |
| Insurance | $17,815 |
| All other expenses | $102 |
| Total functional expenses | $466,775 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,059 |
| Savings and temporary cash investments | $238,005 |
| Pledges and grants receivable | $18,618 |
| 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 | $7,427 |
| Prepaid expenses and deferred charges | $8,368 |
| Net Land, buildings, and equipment | $1,163,257 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,026 |
| Total assets | $1,652,760 |
| Accounts payable and accrued expenses | $17,867 |
| Grants payable | $0 |
| Deferred revenue | $216,964 |
| 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 | $0 |
| Total liabilities | $234,831 |
| Net assets without donor restrictions | $1,388,936 |
| Net assets with donor restrictions | $28,993 |
| 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 | $1,652,760 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Finger Lakes Boating Museum has recieved totaling $216,090.
| Awarding Organization | Amount |
|---|---|
Meade Foundation Inc Hammondsport, NY PURPOSE: CAPITAL PROJECTS AND GOLF TOURNAMENT SPONSOR | $166,000 |
Fred & Harriett Taylor Foundation Chicago, IL PURPOSE: GENERAL | $50,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $90 |
Endowment Analysis
| Beg. Balance | $25,757 |
| Earnings | $2,236 |
| Ending Balance | $27,993 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carnegie Institute Pittsburgh, PA | $541,460,866 | $82,217,609 |
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
The Corning Museum Of Glass Corning, NY | $73,662,076 | $31,481,253 |
Intrepid Museum Foundation Inc New York, NY | $107,274,514 | $23,304,017 |
Jewish Museum New York, NY | $170,221,432 | $22,874,963 |
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
Newark Museum Association Newark, NJ | $64,370,892 | $11,736,749 |
Brandywine Conservancy & Museum Of Art Chadds Ford, PA | $159,611,083 | $25,949,606 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |