2020-10-28T10:05:53-05:00 2019-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2019-01-01 043392961 NANTUCKET LIGHTSHIP BASKET MUSEUM INC NANT 5082281177 PO BOX 2517 NANTUCKET MA 02584 DARYL WESTBROOK PRESIDENT 5082281177 2020-10-06 1 BARBARA E KING P00005629 5087557107 2020-10-06 64.92.68.66 2020-10-06 12:02:26 ED P E72B146B5E1E59BA65D604A48A41AD981CDAE357 954A65DB1995863A37271E4766999F33303993D7 2019 2021-01-29 14:40:06Z DARYL WESTBROOK PO BOX 2517 NANTUCKET MA 02584 595215 0 X WWW.NANTUCKETLIGHTSHIPBASKETMUSEUM.ORG X 1997 MA PROMOTE THE AWARENESS AND APPRECIATION OF LIGHTSHIP BASKETS AND THEIR MAKERS, BY EDUCATING AND ENGAGING THE PUBLIC ABOUT THE COMPLEXITY OF THIS ART FORM UNIQUE TO NANTUCKET. EXHIBITING HISTORIC AND CONTEMPORARY BASKETS. 18 18 3 100 0 0 310829 383731 38906 26034 3568 4028 -4127 14574 349176 428367 0 0 0 0 154863 164389 0 0 38722 106395 187577 261258 351966 87918 76401 1195835 1265371 11914 3940 1183921 1261431 PROMOTE THE AWARENESS AND APPRECIATION OF LIGHTSHIP BASKETS AND THEIR MAKERS, BY EDUCATING AND ENGAGING THE PUBLIC ABOUT THE COMPLEXITY OF THIS ART FORM UNIQUE TO NANTUCKET. EXHIBITING HISTORIC AND CONTEMPORARY BASKETS. 0 0 213124 70484 ESTABLISHMENT AND OPERATION OF A MUSEUM DEVOTED TO NANTUCKET LIGHTSHIP BASKETS AND BASKET-MAKING. 213124 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 10 0 1 3 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X DARYL WESTBROOK BOARD PRESIDENT 5082281177 49 UNION STREET PO BOX 2517 NANTUCKET MA 02584 RUTH PLANDOWSKI DIRECTOR 0.50 X 0 0 0 DARYL WESTBROOK PRESIDENT 0.50 X X 0 0 0 ELEANOR ROETHKE DIRECTOR 0.50 X 0 0 0 SANDIE OWEN 2ND VICE PRESIDENT 0.50 X X 0 0 0 PEGGY KAUFMAN CLERK 0.50 X X 0 0 0 LISA BERMEL DIRECTOR 0.50 X 0 0 0 KAREN T BUTLER DIRECTOR 0.50 X 0 0 0 JOE GALLICHIO DIRECTOR 0.50 X 0 0 0 LUCY S DILLON DIRECTOR 0.50 X 0 0 0 JACKIE KUPPER DIRECTOR 0.50 X 0 0 0 BETH CLYNE DIRECTOR 0.50 X 0 0 0 SARAH ANN MILLER DIRECTOR 0.50 X 0 0 0 CANDY GREIG DIRECTOR 0.50 X 0 0 0 JOANNE PARR DIRECTOR 0.50 X 0 0 0 KAREN PALMER DIRECTOR 0.50 X 0 0 0 KATHLEEN MEYERS IST VICE PRESIDENT 0.50 X X 0 0 0 EVA-MARIA TAUSIG DIRECTOR 0.50 X 0 0 0 MARYANN WASIK TREASURER 0.50 X X 0 0 0 ROBERT GREENSPON DIRECTOR 0.50 X 0 0 0 MARTHA POLACHI DIRECTOR 0.50 X 0 0 0 ANDREA WULFFLEFF EXECUTIVE DIRECTOR 35.00 X 54231 0 8393 54231 0 8393 0 0 0 0 0 16632 235509 131590 208774 383731 WORKSHOP/CLASSES 611600 14072 14072 ADMISSION 611600 11962 11962 26034 4028 4028 101176 235509 131052 -29876 -29876 80246 35796 44450 44450 428367 70484 0 -25848 X 54231 35250 8135 10846 71075 56289 2464 12322 7258 7258 1245 910 105 230 19214 14045 1614 3555 11366 8303 961 2102 5325 5325 58146 6579 49234 2333 10176 10176 48851 48851 12345 12345 16302 14517 1785 MISC 21747 5167 11006 5574 POSTAGE AND SHIPPING 5104 615 3874 615 TELEPHONE 3735 3735 SUPPLIES 3511 1828 1122 561 2335 1167 584 584 351966 213124 100120 38722 523466 357090 32987 28418 5877 27621 1674 2537 759831 357773 414403 402058 100978 310262 116450 137385 1195835 1265371 11914 3940 11914 3940 X 1041581 1111325 142340 150106 1183921 1261431 1195835 1265371 76401 1109 0 X 1 X 0 0 0 X 220826 338876 308844 310829 383731 1563106 220826 338876 308844 310829 383731 1563106 96550 1466556 1169 2411 3207 3569 4028 14384 1577490 238917 0.92970 0.91670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20935 137385 X X X 0 47910 0 47910 51554 390 4034 47910 38318 12910 326 51554 38051 267 38318 38051 38051 1.00000 0 0 163700 163700 525577 287350 238227 70554 70423 131 402058 MUSEUM COLLECTION 137385 137385 429476 1109 1109 428367 0 428367 351966 0 351966 0 351966 PART III, LINE 4: THE MUSEUM MAINTAINS A PERMANENT COLLECTION OF LIGHTSHIP BASKETS AND HAS CAPITALIZED ITS COLLECTION SINCE INCEPTION. THE COLLECTION IS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. PURCHASED ITEMS ARE CAPITALIZED AT COST AND DONATED ITEMS AT FAIR VALUE AT THE DATE OF RECEIPT FROM THE DONOR. THE MUSEUM HAS DETERMINED THAT THESE COLLECTION ITEMS HAVE CULTURAL AND HISTORIC VALUE THAT IS WORTH PRESERVING PERPETUALLY, AND THE MUSEUM IS PROTECTING AND PRESERVING ESSENTIALLY UNDIMINISHED THE SERVICE POTENTIAL OF THE COLLECTION ITEMS. THE MUSEUM CONTINUALLY REVIEWS ITS COLLECTION AND MAY DEACCESS OR ACQUIRE ADDITIONAL ITEMS. THE MUSEUM HAS ESTABLISHED A POLICY THAT REQUIRES THE PROCEEDS FROM ITEMS DEACCESSED TO BE INVESTED AND, TOGETHER WITH ACCUMULATED INVESTMENT INCOME, USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. PART V, LINE 4: THE MUSEUM'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE MUSEUM CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED AS PERMANENTLY RESTRICTED IS CLASSIFIED AS AVAILABLE FOR EXPENDITURE UNTIL THOSE AMOUNTS ARE APPROPRIATED BY THE MUSEUM IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE MUSEUM MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE MUSEUM AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE MUSEUM; AND THE INVESTMENT POLICIES OF THE MUSEUM. THE MUSEUM CURRENTLY APPROPRIATES ACTUAL ENDOWMENT EARNINGS FOR USE IN OPERATIONS. BASKET BUBBLY BRUNCH/AUCTION 213159 132680 80479 85010 34451 YARD SALE 102829 102829 9240 3 20697 20697 2351 336685 235509 101176 85010 46042 131052 -29876 X 5 20935 APPRAISAL - BASKETS X YARD SALE ITEMS 250 102829 COMPARABLE SALES X AUCTION ITEMS 27 85010 COMPARABLE SALES 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B 990 PRESENTED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ANNUALLY SIGN A CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 CHAIR OF NOMINATING/COMPENSATION COMMITTEE REVIEWS EMPLOYEE COMPENSATION AND MAKES RECOMMENDATIONS TO THE BOARD REGARDING SALARIES FORM 990, PART VI, SECTION C, LINE 18 WRITTEN REQUEST TO THE ORGANIZATION FOR DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 NOT MADE SEPARATELY AVAILABLE TO PUBLIC FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 6,487. MANAGEMENT AND GENERAL EXPENSES 49,223. FUNDRAISING EXPENSES 2,310. TOTAL EXPENSES 58,020. PROFESSIONAL DEVELOPMENT: PROGRAM SERVICE EXPENSES 92. MANAGEMENT AND GENERAL EXPENSES 11. FUNDRAISING EXPENSES 23. TOTAL EXPENSES 126.