2017-11-08T14:47:00-06:00 2016-12-31 050392605 MULLEN SCORPIO & CERILLI 67 CEDAR STREET PROVIDENCE RI 02903 990 2016-01-01 237102744 HERRESHOFF MARINE MUSEUM HERR 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 WILLIAM LYNN EXECUTIVE DIRECTOR 4012535000 2017-11-07 1 PATRICIA M CERILLI P01598123 4017513860 70.167.19.136 2017-11-07 12:54:16 ES P CC75FDEC1C4128CBBB2E114B7F7700E525AC561C 4A7EF867CE84D9E07655691ED1F5714C11CA176D 2016 2018-03-14 21:41:22Z WILLIAM LYNN 1 BURNSIDE STREET BRISTOL RI 02809 1470089 0 X WWW.HERRESHOFF.ORG X 1971 RI INTERPRET THE HISTORY & ACCOMPLISHMENTS OF THE HERRESHOFF MANUFACTURING CO. & AMERICA'S CUP. 20 18 48 100 0 0 989139 550834 295777 357490 -9111 49383 41590 186052 1317395 1143759 0 0 0 0 657446 664615 0 0 162678 545467 655375 1202913 1319990 114482 -176231 4920612 4199699 1844627 1766277 3075985 2433422 X INTERPRETATION OF THE HISTORY AND ACCOMPLISHMENTS OF THE HERRESHOFF MANUFACTURING COMPANY AND AMERICA'S CUP. 0 0 152473 96641 MUSEUM ACTIVITIES AND ADMISSIONS: THE HERRESHOFF MARINE MUSEUM AND AMERICA'S CUP HALL OF FAME ARE DEDICATED TO THE INSPIRATION AND EDUCATION OF THE PUBLIC THROUGH THE PRESENTATION OF THE HISTORY AND INNOVATIVE WORK OF THE HERRESHOFF MANUFACTURING COMPANY AND THE AMERICA'S CUP COMPETITION. VISITORS TO THE MUSEUM HAVE THE OPPORTUNITY TO EXPLORE THE WORLD'S LARGEST COLLECTION OF ANY ONE NAVAL ARCHITECT'S LIFE WORK. THE GENIUS OF THE HERRESHOFF BROTHERS IS UNSURPASSED IN ITS COMINBATION OF BUSINESS ACUMEN AND ENGINEER EXCELLENCE. 310428 330214 WATERFRONT AND EDUCATION PROGRAMS: INCLUDES THE SEAMANSHIP PROGRAM, LECTURES, THE MENTORSHIP PROGRAM IN CLASSIC BOAT MAINTENANCE AND EDUCATIONAL PARTNERSHIPS. THE MENTORSHIP PROGRAM IN CLASSIC BOAT MAINTENANCE PROVIDES A HANDS-ON EXPERIENCE IN HELPING TO CARE FOR THE MUSEUM'S ACTIVE-USE COLLECTION OF WATERCRAFT. THE SEAMANSHIP PROGRAM'S PRIMARY GOALS ARE TO TEACH SAILING SKILLS AND WATER AWARENESS, TO INSTILL A LOVE OF THE MARINE ENVIRONMENT AND TO CREATE LIFELONG SAILORS. 43758 51398 PROGRAM EVENTS: THESE EVENTS INCLUDE PRESENTATIONS ON SUBJECTS RELATIVE TO THE EXCELLENCE IN CLASSIC YACHT RESTORATION, REPLICATION, OR USE; ADAPTATION OF CLASSIC DESIGNS TO MODERN MATERIALS AND THE TECHNICAL DETAILS OF RIGGING, FITTING, POWERING AND RATING RULES. THE EVENT'S PROCEEDINGS (THE ASSEMBLAGE OF PAPERS AND DISCUSSIONS PROVIDING DURING THE SYMPOSIUM AS WELL AS NOTEWORTHY PAPERS NOT PRESENTED) ARE DISTRIBUTED TO HUNDREDS OF BUILDERS, DESIGNERS, OWNERS AND ENTHUSIASTS WHO ATTEND, AS WELL AS BEING OFFERED FOR SALE THROUGH THE HERRESHOFF MARINE MUSEUM, THE SOCIETY OF NAVAL ARCHITECTS AND MARINE ENGINEERS AND ONLINE INTERNATIONALLY. THE PROGRAMMING INCLUDES MEMBERSHIP COMMUNICATIONS AS WELL AS GENERAL ADMISSION TO THE MUSEUM. 363482 OTHER PROGRAM SERVICES 363482 870141 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 0 1 16 0 1 48 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 20 18 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X DANA CLOUGH DIR OF FINANCEOPS 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 ROBERT AYERLE DIRECTOR 1.00 X 0 0 0 ALFRED G FRED BISSET DIRECTOR 1.00 X 0 0 0 MAIA FARISH DIRECTOR 1.00 X 0 0 0 DAVID FORD CHAIRMAN 3.00 X X 0 0 0 STEPHEN R FRARY DIRECTOR 1.00 X 0 0 0 HALSEY C HERRESHOFF DIRECTOR 1.00 X 0 0 0 HALSEY C HERRESHOFF II DIRECTOR 1.00 X 0 0 0 DAVID HIBBITT DIRECTOR 1.00 X 0 0 0 GEOFFREY HOPPER DIRECTOR 3.00 X 0 0 0 GEORGE M DOOIE ISDALE DIRECTOR 1.00 X 0 0 0 LAWRENCE D LAVERS TREASURER & DIRECTOR 3.00 X X 0 0 0 MARSHALL LAWSON DIRECTOR 1.00 X 0 0 0 ARTHUR SANDY LEE DIRECTOR 1.00 X 0 0 0 GEORGE B LUCAS DIRECTOR 1.00 X 0 0 0 JOOP NAGTEGAAL DIRECTOR 1.00 X 0 0 0 GERALD RAINER DIRECTOR 1.00 X 0 0 0 ANDREW T TYSKA DIRECTOR 1.00 X 0 0 0 CHRISTOPHER M WICK DIRECTOR 1.00 X 0 0 0 ROBERT D YARO DIRECTOR 1.00 X 0 0 0 WILLIAM H LYNN PRESIDENT AND EXECUTIVE DIRECTOR 40.00 X X 161393 0 0 WM H DYER JONES SECRETARY 1.00 X 0 0 0 161393 0 0 1 0 1 0 0 38746 12700 499388 550834 WATERFRONT PROGRAMS 611710 128463 128463 EDUCATION PROGRAMS 611600 121496 121496 MUSEUM ACTIVITIES 611710 67449 67449 ADMISSIONS 611710 34395 34395 MISC MUSEUM REVENUE 900099 5687 5687 357490 8806 8806 247896 202134 45762 45762 34521 11241 40577 0 40577 40577 40577 180957 12700 87525 93432 179457 83529 36671 46858 1143759 432588 11241 188263 588654 277246 197102 114306 6894 7895 -1653 652 69067 30720 29074 9273 775 775 805 805 12276 12276 2027 2027 6262 80 4777 1405 4627 3798 289 540 56418 47635 2207 6576 8039 2584 3883 1572 57335 38904 18431 5996 3500 463 2033 238 175 50 13 65473 64029 1444 4385 4385 176214 167365 8849 51054 45593 5120 341 OTHER EXPENSE 122440 118895 1613 1932 EVENT EXPENSE 45586 25355 30 20201 SAILING SCHOOL SCHOLARS 16036 16036 EXHIBIT EXPENSE 14124 14124 5265 6207 -2749 1807 1319990 870141 287171 162678 72997 92160 254123 246891 71765 45662 13574 12294 18254 18020 9579 24703 7079475 3646837 4155948 3432638 221018 226994 29325 26120 74029 74217 4920612 4199699 222567 261435 51649 59401 1566211 1445441 4200 1844627 1766277 X 2462946 1839478 395520 376175 217519 217769 3075985 2433422 4920612 4199699 X -176231 8736 28640 121366 -625074 X 0 1 X 1 0 X 667979 520753 796175 989139 552334 3526380 667979 520753 796175 989139 552334 3526380 723475 2802905 36 19372 7714 -3443 8806 32485 3558865 0.78760 0.79440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 221018 250 16875 9122 2027 226994 234015 1150 -5386 8761 221018 186947 50100 7711 10743 234015 164235 7970 18532 3790 186947 152410 11825 36 36 164235 0.98000 0.02000 1 0 531385 531385 4128137 2054314 2073823 626774 493073 133701 1793179 1099450 693729 3432638 INVESTMENTS HELD AT RI COMMUNITY FDN 224777 F INVESTMENTS HELD AT BARRETT & CO 2217 F 226994 X 1507465 8736 28640 326330 363706 1143759 0 1143759 1646320 326330 326330 1319990 0 1319990 PART III, LINE 1A: THE COLLECTION CONSISTS OF ITEMS OF HISTORICAL SIGNIFICANCE THAT ARE HELD BY THE ORGANIZATION TO BE PRESERVED AND PROTECTED. THESE ITEMS OF THE COLLECTION WHICH INCLUDE YACHTS, BOOKS, PHOTOGRAPHS, ARCHITECTURAL DESIGNS, ARTWORK AND MARINE RELATED MEMORABILIA ARE MADE AVAILABLE TO THE GENERAL PUBLIC FOR VIEWING AND STUDY. THE COLLECTION, WHICH WAS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE ORGANIZATION'S INCEPTION, IS NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. THE ORGANIZATION PROVIDES THE RESOURCES TO ENSURE THE COLLECTION IS PROTECTED AND PRESERVED. THE VALUE OF ITEMS OF COLLECTION RECEIVED IS NOT REPORTED AS CONTRIBUTIONS OR ACCESSIONS IN THE STATEMENT OF ACTIVITIES. THE ORGANIZATION'S POLICY IS TO PROVIDE RESOURCES TO ENSURE THE COLLECTION IS PROTECTED AND PRESERVED IN ACCORDANCE WITH THE POLOCIES OF THE AMERICAN ASSOCIATION OF MUSEUMS. PART III, LINE 4: THE HERRESHOFF MARINE MUSEUM AND AMERICA'S CUP HALL OF FAME ARE DEDICATED TO THE EDUCATION AND INSPIRATION OF THE GENERAL PUBLIC THROUGH THE PRESENTATION OF THE HISTORY AND INNOVATIVE WORK OF THE HERRESHOFF MANUFACTURING COMPANY (HMC) AND THE AMERICA'S CUP COMPETITION. THE "COLLECTION" IS COMPRISED OF 44 BOATS, OVER 2,000 HISTORIC ARTIFACTS FROM THE HMC, THE HERRESHOFF FAMILY, AND THE AMERICA'S CUP COMPETITION AND OVER 3,000 PHOTOGRAPHS AND FILM NEGATIVES RELATED TO THE SAME (COLLECTIVELY "COLLECTION"). THE COLLECTION ALSO INCLUDES A MODEL ROOM AND SHIP MODELS, A LIBRARY WITH NEARLY 5,000 MONOGRAPHS AND VIDEOS AND THE ARCHIVAL RECORDS OF THE HMC AND THE AMERICA'S CUP EVENTS. PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUND IS GENERALLY DONOR RESTRICTED TO SUPPORT THE PRESERVATION OF THE COLLECTION AND PROVIDE OPERATIONAL SUPPORT IN ACCORDANCE WITH THE DONOR STIPULATIONS. PART X, LINE 2: THE MUSEUM EVALUATES ITS UNCERTAIN TAX POSITIONS USING THE GUIDANCE FOR CONTINGENCIES AS CONTAINED IN US GAAP. THE MUSUEM WAS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS THAT WERE NOT PROVIDED FOR IN THE FINANCIAL STATEMENTS. THE MUSEUM ANNUALLY FILES IRS FORM 990. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES AND THE MUSEUM'S TAX RETURNS FOR 2013, 2014 AND 2015 ARE SUBJECT TO EXAMINATION BY THE IRS AND STATE AUTHORITIES. THE MUSEUM CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 202,134. SPECIAL EVENTS 87,525. MUSEUM STORE 36,671. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 202,134. SPECIAL EVENTS 87,525. MUSEUM STORE 36,671. FROSTBITE BASH 41141 12700 28441 2107 214 1440 5075 ACHOF INDUCTION 139673 0 139673 6514 53327 6953 12843 12843 3229 6831 750 1085 193657 12700 180957 11850 60372 2190 13113 87525 93432 X 0 0 0 0 0 0 0 0 0 WILLIAM H LYNN PRESIDENT AND EXECUTIVE DIRECTOR 124643 0 36750 0 0 0 0 0 0 0 161393 0 0 0 ELISABETH LAVERS SPOUSE OF DIRECTOR 67928 COMPENSATION 0 X 3 12000 EST. FMV X FUNDRAISING 48 11432 EST. FMV X EXHIBIT 2 5100 EST. FMV X MISCELLANEOUS 1 108 EST. FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 A MEMBER OF THE BOARD OF DIRECTORS IS RELATED TO A SENIOR MANAGER OF THE ORGANIZATION. THE BOARD OF DIRECTORS HAS REVIEWED AND APPROVED THE EMPLOYMENT OF THE SENIOR MANAGER. HALSEY HERRESHOFF (BOARD OF DIRECROR) AND HALSEY HERRESHOFF II (BOARD OF DIRECTOR) ARE RELATED. FORM 990, PART VI, SECTION A, LINE 6 HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS. THERE IS AN ANNUAL MEETING EACH YEAR OF THE MEMBERSHIP FOR THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE TERMS HAVE EXPIRED AND FOR THE TRANSACTIONS OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. EACH INDIVIDUAL, FAMILY OR GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE, WHICH MAY BE GIVEN IN PERSON OR BY PROXY. THE CHAIRPERSON OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE ORGANIZATION DURING THE PRECEEDING YEAR. THE TREASURER WILL REPORT ON THE FISCAL CONDITION OF THE ORGANIZATION DURING THE PRECEEDING YEAR. FORM 990, PART VI, SECTION A, LINE 7A HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS. THERE IS AN ANNUAL MEETING EACH YEAR OF THE MEMBERSHIP FOR THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE WHOSE TERMS HAVE EXPIRED AND FOR THE TRANSACTIONS OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. EACH INDIVIDUAL, FAMILY OR GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL BE ENTITLED TO ONE VOTE, WHICH MAY BE GIVEN IN PERSON OR BY PROXY. THE CHAIRPERSON OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE ORGANIZATION DURING THE PRECEEDING YEAR. THE TREASURER WILL REPORT ON THE FISCAL CONDITION OF THE ORGANIZATION DURING THE PRECEEDING YEAR. FORM 990, PART VI, SECTION A, LINE 7B HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS. THERE IS AN ANNUAL MEETING EACH YEAR OF THE MEMBERS FOR THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE TERMS HAVE EXPIRED AND FOR THE TRANSACTIONS OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. EACH INDIVIDUAL, FAMILY OR GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE, WHICH MAY BE GIVEN IN PERSON OR BY PROXY. THE CHAIRPERSON OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE ORGANIZATION DURING THE PRECEEDING YEAR. THE TREASURER WILL REPORT ON THE FISCAL CONDITION OF THE ORGANIZATION DURING THE PRECEEDING YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 IS PREPARED BY THE ORGANIZATION'S AUDITOR AND REVIEWED BY THE EXECUTIVE DIRECTOR AND DIRECTOR OF FINANCE AND OPERATIONS. THE DRAFT IS SUBMITTED TO THE FINANCE COMMITTEE FOR REVIEW AND A FINAL VERSION IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO THE FILING DATE. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTOR'S PROVIDE SELF-DECLARATION OF POSSIBLE CONFLICTS OF INTEREST AS PART OF THE ANNUAL RESPONSIBILITIES. THE CONFLICT OF INTEREST FORMS ARE REVIEWED BY THE CHAIRPERSON OF THE BOARD WITH THE VICE CHAIRPERSON OF THE BOARD IN CASE OF THE CHAIRPERSON'S OWN FILING. FORM 990, PART VI, SECTION B, LINE 15 SALARIES OF KEY MANAGERS ARE INFORMALLY REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS THROUGH THE REVIEW AND APPROVAL OF THE OPERATING BUDGET ANNUALLY. FORM 990, PART VI, SECTION C, LINE 18 COPIES OF GOVERNING DOCUMENTS AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FROM THE DIRECTOR OF FINANCE AND OPERATIONS UPON WRITTEN REQUEST. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE GOVERNING DOCUMENTS AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FROM THE DIRECTOR OF FINANCE AND OPERATIONS UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CONSTRUCTION IN PROGRESS WRITTEN OFF -627,972. OTHER 2,898. HMM CONDO ASSOCIATION 1 BURNSIDE STREET BRISTOL RI 02809 263689010 REAL ESTATE RI HERRESHOFF MARINE MUSEUM C 101 74217 0.78000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 HERRESHOFF MARINE CONDO ASSOCIATION Q 4385 FMV