2019-11-13T10:14:56-06:00 2018-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2018-01-01 043392961 NANTUCKET LIGHTSHIP BASKET MUSEUM INC NANT 5082281177 PO BOX 2517 NANTUCKET MA 02584 DARYL WESTBROOK PRESIDENT 5082281177 2019-10-24 1 BARBARA E KING P00005629 5087557107 2019-10-24 71.11.10.178 2019-10-24 16:55:04 ED P 8EBE2C742E664054279447B32CDAD3C6F5A6D6E9 954A65DB1995863A37271E4766999F33303993D7 2018 2020-03-31 21:24:44Z DARYL WESTBROOK PO BOX 2517 NANTUCKET MA 02584 524311 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. 17 17 4 75 0 0 308844 310829 25624 38906 3207 3568 17926 -4127 355601 349176 0 0 0 0 142925 154863 0 0 34676 144665 106395 287590 261258 68011 87918 1107674 1195835 11689 11914 1095985 1183921 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 194373 49802 ESTABLISHMENT AND OPERATION OF A MUSEUM DEVOTED TO NANTUCKET LIGHTSHIP BASKETS AND BASKET-MAKING. 194373 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 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 8 0 1 4 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X ANDREA WULFFLEFF EXECUTIVE DIRECTOR 5082281177 49 UNION STREET PO BOX 2517 NANTUCKET MA 02584 MARYANN WASIK TREASURER 0.50 X X 0 0 0 DARYL WESTBROOK PRESIDENT 0.50 X X 0 0 0 KATHLEEN S MYERS 1ST VICE PRESIDENT 0.50 X 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 RUTH PLANDOWSKI 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 ROBERT A GREENSPON DIRECTOR 0.50 X 0 0 0 SARAH ANN MILLER DIRECTOR 0.50 X 0 0 0 KAREN PALMER DIRECTOR 0.50 X 0 0 0 JOANNE PARR DIRECTOR 0.50 X 0 0 0 MARTHA POLACHI DIRECTOR 0.50 X 0 0 0 ELEANOR ROETHKE DIRECTOR 0.50 X 0 0 0 EVA-MARIA TAUSIG DIRECTOR 0.50 X 0 0 0 MARY BERGMAN EXECUTIVE DIRECTOR 35.00 X 3078 0 0 SUZANNE MYNTTINEN FORMER EXE. DIRECTOR 35.00 X 39279 0 6216 ANDREA WULFFLEFF EXECUTIVE DIRECTOR 35.00 X 57211 0 2838 99568 0 9054 0 0 0 0 0 13955 207275 89599 167940 310829 WORKSHOP/CLASSES 611600 26515 26515 ADMISSION 611600 12391 12391 38906 3568 3568 132367 207275 147390 -15023 -15023 38641 27745 10896 10896 349176 49802 0 -11455 60289 39188 9043 12058 59097 47284 1969 9844 7256 5256 669 1331 16947 12274 1564 3109 11274 8166 1040 2068 4725 4725 4832 3243 790 799 11813 11813 27182 27182 12887 12887 16466 13377 3089 MISC 12430 3742 4420 4268 SUPPLIES 8522 7391 754 377 TELEPHONE 3098 3098 EQUIPMENT RENTAL 2383 1191 596 596 2057 1379 452 226 261258 194373 32209 34676 415935 523466 499 32987 6767 5877 8133 1674 759831 345428 427290 414403 132600 100978 116450 116450 1107674 1195835 11689 11914 11689 11914 X 950955 1041581 42375 39685 102655 102655 1095985 1183921 1107674 1195835 87918 18 0 X 1 X 0 0 0 X 188473 220826 338876 308844 310829 1367848 188473 220826 338876 308844 310829 1367848 103853 1263995 671 1169 2411 3207 3569 11027 1378875 212128 0.91670 0.89420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 116450 X X X 0 51554 0 390 4034 47910 38318 12910 326 51554 38051 267 38318 38051 38051 1.00000 0 0 163700 163700 525577 275266 250311 70554 70162 392 414403 MUSEUM COLLECTION 116450 116450 X 349194 18 18 349176 0 349176 261258 0 261258 0 261258 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 DOES NOT CURRENTLY APPROPRIATES ACTUAL ENDOWMENT EARNINGS FOR USE IN OPERATIONS. PART X, LINE 2: MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE MUSEUM HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE UPON THE MUSEUM'S STATEMENTS OF FINANCIAL POSITION, OR THE RELATED STATEMENTS OF ACTIVITIES, OR CASH FLOWS. BASKET BUBBLY BRUNCH/AUCTION 213961 122365 91596 83030 28148 YARD SALE 84910 84910 2 40771 40771 36212 339642 207275 132367 83030 64360 147390 -15023 X YARD SALE ITEMS 250 84910 COMPARABLE SALES X AUCTION ITEMS 27 83030 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