HERRESHOFF MARINE MUSEUM: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- HERRESHOFF MARINE MUSEUM (EIN 23-7102744)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-11-16
- IRS object ID
- 201503209349300620
- Schema version
- 2014v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule G
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-11-16T08:29:49-05:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 260230784 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Allan Smith CPA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Two Cabot Place Suite 8 | AddressLine1Txt |
| City | Stoughton | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02072 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237102744 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Herreshoff Marine Museum | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HERR | BusinessNameControlTxt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | One Burnside Street | AddressLine1Txt |
| City | Bristol | CityNm |
| State Abbreviation | RI | StateAbbreviationCd |
| ZIP | 02809 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | William Lynn | PersonNm |
| Person Title | President | PersonTitleTxt |
| Phone | 4012535000 | PhoneNum |
| Signature | 2015-11-16 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ALLAN SMITH | PreparerPersonNm |
| PTIN | P00825089 | PTIN |
| Phone | 7742065553 | PhoneNum |
| Preparation | 2015-11-16 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Americas Cup Hall of Fame | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,398,664 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.herreshoff.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1971 | FormationYr |
| Legal Domicile State | RI | LegalDomicileStateCd |
| Activity Or Mission | Interpretation of the history and accomplishments of the Herreshoff Manufacturing Company and the America's Cup. | ActivityOrMissionDesc |
| Voting Members Governing Body | 20 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 19 | VotingMembersIndependentCnt |
| Total Employee | 36 | TotalEmployeeCnt |
| Total Volunteers | 100 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $520,753 | PYContributionsGrantsAmt |
| CY Contributions Grants | $796,175 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $350,773 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $289,176 | CYProgramServiceRevenueAmt |
| PY Investment Income | $73,484 | PYInvestmentIncomeAmt |
| CY Investment Income | $14,327 | CYInvestmentIncomeAmt |
| PY Other Revenue | $37,474 | PYOtherRevenueAmt |
| CY Other Revenue | $24,964 | CYOtherRevenueAmt |
| PY Total Revenue | $982,484 | PYTotalRevenueAmt |
| CY Total Revenue | $1,124,642 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $525,134 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $593,553 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $156,728 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $554,441 | PYOtherExpensesAmt |
| CY Other Expenses | $540,325 | CYOtherExpensesAmt |
| PY Total Expenses | $1,079,575 | PYTotalExpensesAmt |
| CY Total Expenses | $1,133,878 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$97,091 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$9,236 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,504,571 | TotalAssetsBOYAmt |
| Total Assets EOY | $4,485,699 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,616,677 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,571,035 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,887,894 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,914,664 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Interpretation of the history and accomplishments of the Herreshoff Manufacturing Company and the America's Cup. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $455,327 | ExpenseAmt |
| Revenue | $742,830 | RevenueAmt |
| Desc | Museum Activities: 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 combination of business acumen and engineering excellence. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $199,288 | ExpenseAmt |
| Revenue | $236,003 | RevenueAmt |
| Desc | Program Activities: 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. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $7,069 | ExpenseAmt |
| Revenue | $6,862 | RevenueAmt |
| Desc | Lecture Series and Education: 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 provided 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. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $661,684 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | Yes (true) | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | Yes (true) | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (true) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (true) | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | Yes (true) | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 23 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 36 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (true) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (true) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form1098 C Filed | Yes (true) | Form1098CFiledInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 20 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 19 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | RI | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
| Other | Yes (X) | OtherInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Lydia Bergeron CFO | PersonNm |
| Phone | 4012535000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | One Burnside Street | AddressLine1Txt |
| City | Bristol | CityNm |
| State Abbreviation | RI | StateAbbreviationCd |
| ZIP | 02809 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Key EmployeeKeyEmployeeInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|---|---|
| Lydia Bergeron | |||||||||
| Chief Financial Officer | 40.00 | 0.00 | Yes (X) | Yes (X) | $70,671 | $0 | $477 | ||
| Wm H Dyer Jones | |||||||||
| Chief Collections Officer | 40.00 | 0.00 | Yes (X) | Yes (X) | $64,457 | $0 | $5,460 | ||
| Lawrence Lavers | |||||||||
| President and COO - Former 20 | 40.00 | 0.00 | Yes (X) | $72,718 | $0 | $4,374 | Yes (X) | ||
| David Ford | |||||||||
| Chairman | 3.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Alfred Bisset | |||||||||
| Vice Chairman | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| David Curtin | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Janice Davison | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Geoffrey Hopper | |||||||||
| Treasurer | 3.00 | 0.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| Marshall Lawson | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Stephen Frary | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Elizabeth Granoff | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Bernard Gustin | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Halsey Herreshoff | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Halsey Herreshoff II | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| David Hibbitt | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Arthur Lee | |||||||||
| Trustee | 45.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| George Lucas | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Joop Nagtegaal | |||||||||
| Trustee | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Brad Shipp | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Andrew Tyska | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Christopher Wick | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Robert Yaro | |||||||||
| Trustee | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $207,846 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $10,311 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Membership Dues | $52,305 | MembershipDuesAmt |
| Fundraising | $82,214 | FundraisingAmt |
| All Other Contributions | $661,656 | AllOtherContributionsAmt |
| Total Contributions | $796,175 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Museum Activities | 611710 | $176,547 | $176,547 |
| Admissions | 611710 | $38,104 | $38,104 |
| Waterfront Programs | 611710 | $9,964 | $9,964 |
| Sailing School | 611600 | $59,654 | $59,654 |
| Misc Museum Revenue | 900099 | $4,907 | $4,907 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $289,176 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,714 | TotalRevenueColumnAmt |
| Exclusion | $7,714 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $115,390 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $121,653 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$6,263 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$6,263 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$6,263 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $32,753 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $26,140 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $6,613 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,613 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,613 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $86,835 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $82,214 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $44,137 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $42,698 | TotalRevenueColumnAmt |
| Exclusion | $42,698 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $70,621 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $82,092 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$11,471 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$11,471 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,124,642 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $278,055 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $50,412 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $224,014 | TotalAmt |
| Program Services | $85,384 | ProgramServicesAmt |
| Management And General | $138,630 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $283,000 | TotalAmt |
| Program Services | $163,863 | ProgramServicesAmt |
| Management And General | $23,843 | ManagementAndGeneralAmt |
| Fundraising | $95,294 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,636 | TotalAmt |
| Program Services | $11,852 | ProgramServicesAmt |
| Management And General | $2,834 | ManagementAndGeneralAmt |
| Fundraising | $3,950 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,903 | TotalAmt |
| Program Services | $36,830 | ProgramServicesAmt |
| Management And General | $18,557 | ManagementAndGeneralAmt |
| Fundraising | $12,516 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,572 | TotalAmt |
| Management And General | $30,572 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,816 | TotalAmt |
| Program Services | $1,012 | ProgramServicesAmt |
| Management And General | $7,804 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,572 | TotalAmt |
| Management And General | $19,572 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,777 | TotalAmt |
| Program Services | $888 | ProgramServicesAmt |
| Management And General | $889 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,831 | TotalAmt |
| Program Services | $3,877 | ProgramServicesAmt |
| Management And General | $109 | ManagementAndGeneralAmt |
| Fundraising | $845 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,716 | TotalAmt |
| Program Services | $14,913 | ProgramServicesAmt |
| Management And General | $10,672 | ManagementAndGeneralAmt |
| Fundraising | $12,131 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,335 | TotalAmt |
| Program Services | $2,762 | ProgramServicesAmt |
| Management And General | $4,981 | ManagementAndGeneralAmt |
| Fundraising | $4,592 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,333 | TotalAmt |
| Program Services | $25,333 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,049 | TotalAmt |
| Program Services | $3,129 | ProgramServicesAmt |
| Management And General | $2,204 | ManagementAndGeneralAmt |
| Fundraising | $1,716 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,753 | TotalAmt |
| Program Services | $67,753 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $186,907 | TotalAmt |
| Program Services | $181,940 | ProgramServicesAmt |
| Management And General | $4,577 | ManagementAndGeneralAmt |
| Fundraising | $390 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,883 | TotalAmt |
| Program Services | $69,928 | ProgramServicesAmt |
| Management And General | $4,446 | ManagementAndGeneralAmt |
| Fundraising | $509 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt | Program ServicesProgramServicesAmt |
|---|---|---|---|
| Donations | $321 | $321 | |
| Repairs and Maintenance - Eq | $10,530 | $10,530 | |
| Communication to Membership | $1,599 | $1,599 | |
| Landscape and Snow Removal | $3,105 | $3,105 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,226 | TotalAmt |
| Program Services | -$23,014 | ProgramServicesAmt |
| Management And General | $45,455 | ManagementAndGeneralAmt |
| Fundraising | $24,785 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,133,878 | TotalAmt |
| Program Services | $661,684 | ProgramServicesAmt |
| Management And General | $315,466 | ManagementAndGeneralAmt |
| Fundraising | $156,728 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $164,560 | BOYAmt |
| EOY | $48,797 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $175,401 | BOYAmt |
| EOY | $316,670 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,890 | BOYAmt |
| EOY | $88,565 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,742 | BOYAmt |
| EOY | $8,187 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,146 | BOYAmt |
| EOY | $19,672 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,933 | BOYAmt |
| EOY | $15,440 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $6,878,869 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,223,725 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,707,735 | BOYAmt |
| EOY | $3,655,144 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $186,947 | BOYAmt |
| EOY | $234,015 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,819 | BOYAmt |
| EOY | $24,992 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,398 | BOYAmt |
| EOY | $74,217 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,504,571 | BOYAmt |
| EOY | $4,485,699 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $145,817 | BOYAmt |
| EOY | $125,807 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,616 | BOYAmt |
| EOY | $24,464 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,981 | BOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,447,763 | BOYAmt |
| EOY | $1,416,564 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,500 | BOYAmt |
| EOY | $4,200 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,616,677 | BOYAmt |
| EOY | $1,571,035 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,337,377 | BOYAmt |
| EOY | $2,201,975 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $383,298 | BOYAmt |
| EOY | $495,370 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $167,219 | BOYAmt |
| EOY | $217,319 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,887,894 | BOYAmt |
| EOY | $2,914,664 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,504,571 | BOYAmt |
| EOY | $4,485,699 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$9,236 | ReconcilationRevenueExpnssAmt |
| Donated Services And Use Fclts | $36,006 | DonatedServicesAndUseFcltsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $556,590 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $649,088 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $667,979 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $520,753 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $796,175 | CurrentTaxYearAmt |
| Total | $3,190,585 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $556,590 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $649,088 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $667,979 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $520,753 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $796,175 | CurrentTaxYearAmt |
| Total | $3,190,585 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $508,704 | SubstantialContributorsTotAmt |
| Public Support Total170 | $2,681,881 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $398 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | -$1,906 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $36 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $19,372 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,714 | CurrentTaxYearAmt |
| Total | $25,614 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $3,216,199 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $1,529,658 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.83390 | PublicSupportCY170Pct |
| Public Support PY170 | 0.79820 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Coll Used Scholarly Rsrch | Yes (X) | CollUsedScholarlyRsrchInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
| Coll Used Loan Or Exch Prog | Yes (X) | CollUsedLoanOrExchProgInd |
| Solicited Assets Sale | false | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $186,947 | BeginningYearBalanceAmt |
| Contributions | $50,100 | ContributionsAmt |
| Investment Earnings Or Losses | $7,711 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $10,743 | OtherExpendituresAmt |
| End Year Balance | $234,015 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $164,235 | BeginningYearBalanceAmt |
| Contributions | $7,970 | ContributionsAmt |
| Investment Earnings Or Losses | $18,532 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $3,790 | OtherExpendituresAmt |
| End Year Balance | $186,947 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $152,410 | BeginningYearBalanceAmt |
| Contributions | $11,825 | ContributionsAmt |
| Investment Earnings Or Losses | $36 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $36 | OtherExpendituresAmt |
| End Year Balance | $164,235 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $136,850 | BeginningYearBalanceAmt |
| Contributions | $15,560 | ContributionsAmt |
| Investment Earnings Or Losses | -$1,906 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | -$1,906 | OtherExpendituresAmt |
| End Year Balance | $152,410 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $135,650 | BeginningYearBalanceAmt |
| Contributions | $1,200 | ContributionsAmt |
| Investment Earnings Or Losses | $399 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $399 | OtherExpendituresAmt |
| End Year Balance | $136,850 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prmnnt Endowment Balance EOY | 1.00000 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (true) | EndowmentsHeldUnrelatedOrgInd |
| Related Org List Sch R | Yes (true) | RelatedOrgListSchRInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $531,385 | OtherCostOrOtherBasisAmt |
| Book Value | $531,385 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,462,930 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,813,029 | DepreciationAmt |
| Book Value | $1,649,901 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $595,288 | OtherCostOrOtherBasisAmt |
| Depreciation | $518,501 | DepreciationAmt |
| Book Value | $76,787 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,289,266 | OtherCostOrOtherBasisAmt |
| Depreciation | $892,195 | DepreciationAmt |
| Book Value | $1,397,071 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,655,144 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Investments Held at RI Community Fd | $231,766 | F |
| Investments Held at Barrett & Co | $2,249 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $234,015 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Miscellaneous Liabilities | Desc |
| Amt | $4,200 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $4,200 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Not reporting collections (Part III, line 1a) | The collection, which was acquired through purchases and contributions since the Organization's inception, is not recognized as an asset on the Statement of Financial Position. The collection consists of items of historical significance that are held by the Organization to be preserved and protected. The collection, which consist of yachts, designs, books, photos and other memorabilia is made available to the general public for study and viewing. Purchases of collection items are recorded as decreases in unrestricted net assets in the year acquired, or as decreases in temporarily restricted or permanently restricted net assets if the assets used to purchase the item are restricted by the donor. The Organization's policy is to provide resources to ensure the collection is protected and preserved in accordance with the policies of the American Association of Museums. |
| Collections descriptions (Part III, line 4) | The Herreshoff Marine Museum and America's Cup Hall of Fame are dedicated to the education and inspiration of the public through the presentation of the history and innovative work of the Herreshoff Manufacturing Company and the America's Cup Competition. It is the policy of the Organization to collect and preserve objects, documentary materials and related intellectual property that may be used for exhibitions, interpretation, research, or other applications in support of the Mission. The obligation of the Organization to its collection is paramount. The Organization derives its general purpose and use to the general public from its collection, which is an essential part of the Herreshoff Manufacturing Company and the America's Cup record. |
| Endowment funds intended uses (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. |
| Footnote for uncertain tax position under FIN 48 (Part X) | The Organization is generally exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and has been determined not to be a private foundation. The Organization is also exempt from State of Rhode Island income tax. Therefore, no provision for income taxes has been made in the accompanying consolidated financial statements. There were no significant differences in the reporting of revenues and expenses for financial statement and income tax reporting purposes. The Organization follows the guidance in FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes relating to uncertain tax positions. The Organization deems its not-for-profit status and the identification and reporting of unrelated business income and the allocation of related expenses to this unrelated business income to be tax positions. The Organization also considers self-dealing, excess business holdings, certain investment activities and specific types of expenditures to put the Organization at risk for significant punitive tax assessment. The Organization continually evaluates these tax positions in light of changes in tax law, interpretation and new authoritative rulings. The Organization evaluates tax positions taken, or expected to be taken, in its tax returns to determine whether the tax positions are more-likely-than-not to be sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold, along with accrued interest and penalties thereon, are recorded as a liability and expense in the current year financial statements if significant. Accounting principles for risk and uncertainties in accounting for income taxes, including temporary differences between tax and financial accounting basis of assets and liabilities and tax benefits of tax positions are used in the preparation of the Organizations tax returns. The Organization reports tax related interest and penalties, if any, as a component of management and general expenses. As of December 31, 2014 and 2013, there were no accrued interest and penalties outstanding associated with uncertain tax positions. The Organization will file not-for-profit tax returns and the Subsidiary corporate tax returns in the U.S. federal jurisdiction, and the State of Rhode Island where they operate and solicit funds. The Internal Revenue Service (IRS) and the State of Rhode Island have not requested examination of open tax years of 2013, 2012 and 2011. The State of Rhode Island has a statute of limitations of three (3) years. The Organization and Subsidiarys U.S. federal and State of Rhode Island income tax returns prior to December 31, 2011 are closed. The Organization is subject to a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. At December 31, 2014 and 2013, the Organization believes that it has no significant uncertain tax positions within any of its open tax years. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | Frostbiters | Event1Nm |
| Gross Receipts Event1 | $69,883 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $48,137 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $21,746 | GrossRevenueEvent1Amt |
| Entertainment Event1 | $1,600 | EntertainmentEvent1Amt |
| Other Direct Expenses Event1 | $3,417 | OtherDirectExpensesEvent1Amt |
| Event2 | Gala | Event2Nm |
| Gross Receipts Event2 | $84,159 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $34,077 | CharitableContriEvent2Amt |
| Gross Revenue Event2 | $50,082 | GrossRevenueEvent2Amt |
| Rent Facility Costs Event2 | $7,576 | RentFacilityCostsEvent2Amt |
| Food And Beverage Event2 | $10,754 | FoodAndBeverageEvent2Amt |
| Entertainment Event2 | $3,500 | EntertainmentEvent2Amt |
| Other Direct Expenses Event2 | $3,098 | OtherDirectExpensesEvent2Amt |
| Other Events Total | 1 | OtherEventsTotalCnt |
| Gross Receipts Other Events | $15,007 | GrossReceiptsOtherEventsAmt |
| Gross Revenue Other Events | $15,007 | GrossRevenueOtherEventsAmt |
| Rent Fclty Costs Other Events | $3,026 | RentFcltyCostsOtherEventsAmt |
| Food And Beverage Other Events | $4,072 | FoodAndBeverageOtherEventsAmt |
| Entertainment Other Events | $3,200 | EntertainmentOtherEventsAmt |
| Oth Direct Expnss Other Events | $3,894 | OthDirectExpnssOtherEventsAmt |
| Gross Receipts Total | $169,049 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $82,214 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $86,835 | GrossRevenueTotalEventsAmt |
| Rent Fclty Costs Total Events | $10,602 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $14,826 | FoodAndBeverageTotalEventsAmt |
| Entertainment Total Events | $8,300 | EntertainmentTotalEventsAmt |
| Oth Direct Expnss Total Events | $10,409 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $44,137 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $42,698 | NetIncomeSummaryAmt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (9 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| Halsey Herreshoff | |||
| Trustee | $6,619 | Accounts Payable-Normal Business Operations | false |
| Elizabeth Lavers | |||
| SpouseTrustee | $65,586 | Employee Payroll | false |
| Erik Lavers | |||
| Family MemberTrustee | $240 | Employee Payroll | false |
| Halsey Herreshoff | |||
| Trustee | $3,010 | Accounts Receivable-Normal Business Operation | false |
| Herreshoff Designs-Halsey Herreshof | |||
| Trustee | $50 | Accounts Payable-Normal Business Operations | false |
| Herreshoff Designs-Halsey Herreshof | |||
| Trustee | $330 | Accounts Receivable-Normal Business Operation | false |
| David Ford | |||
| Trustee | $800 | Accounts Receivable-Normal Business Operation | false |
| Bristol Marine-Andy Tyska | |||
| Trustee | $4,445 | Accounts Payable-Normal Business Operations | false |
| Halsey Herreshoff | |||
| Trustee | -$3,813 | Accounts Receivable Allowance | false |
Schedule M IRS990ScheduleM
Boats And Planes BoatsAndPlanesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 6 | ContributionCnt |
| Noncash Contributions Rpt F990 | $37,170 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Est FMV | MethodOfDeterminingRevenuesTxt |
Qualified Contrib Other QualifiedContribOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Noncash Contributions Rpt F990 | $0 | NoncashContributionsRptF990Amt |
Other Non Cash Contri Table OtherNonCashContriTableGrp (4 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | Promotional Support | 1 | $10,000 | Est FMV |
| Yes (X) | Exhibit | 3 | $3,700 | Est FMV |
| Yes (X) | Fundraising Support | 10 | $57,590 | Est FMV |
| Yes (X) | Miscellaneous | 5 | $860 | Est FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 3 | Form8283ReceivedCnt |
| Any Property That Must Be Held | Yes (true) | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (true) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | false | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Officer directors etc family relationship Part VI line 2 | Halsey Herreshoff (Board of Directors) and Halsey Herreshoff II (Board of Directors) are related. |
| Members or stockholder classes and rights Part VI 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. |
| Member election for additional members Part VI 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 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. |
| Governing body decisions Part VI line 7b | 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 governing body review Part VI line 11 | The Federal Form 990 is prepared by the Executive Director and Chief Financial Officer and reviewed by the Organization's auditor. That 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. |
| Conflict of interest policy compliance Part VI line 12c | The Directors provide self-declarations of possible conflicts of interest as part of the annual meeting responsibilities. The conflict of interest forms are reviewed by the Chairperson of the Board with the Vice Chairperson of the Board acting in case of the Chairperson's own filing. |
| CEO executive director top management comp Part VI line 15a | Salaries of key managers are informally reviewed and approved by the Board of Directors through the review and approval of the operating budget annually. |
| Other officer or key employee compensation Part VI line 15b | 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 availability to public Part VI line 18 | Copies of the governing documents and the audited financial statements are available from the Chief Financial Officer upon written request. |
| Governing documents etc available to public Part VI line 19 | Copies of the governing documents and the audited financial statements are available from the Chief Financial Officer upon written request. Copies of the governing documents and the audited financial statements are available from the Chief Financial Officer upon written request. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HMM Condo Association | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 Burnside Street | AddressLine1Txt |
| City | Bristol | CityNm |
| State Abbreviation | RI | StateAbbreviationCd |
| ZIP | 02809 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 263689010 | EIN |
| Primary Activities | Real Estate | PrimaryActivitiesTxt |
| Legal Domicile State | RI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Herreshoff Marine Museum | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C Corp | EntityTypeTxt |
| Share Of Total Income | -$181 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $71,715 | ShareOfEOYAssetsAmt |
| Ownership | 0.78000 | OwnershipPct |
| Controlled Organization | false | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (true) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
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