2014-11-14T11:11:55-08:00 2013-12-31 ALLAN SMITH CPA TWO CABOT PLACE SUITE 8 STOUGHTON MA 02072 990 2013-01-01 237102744 HERRESHOFF MARINE MUSEUM HERR 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 LAWRENCE D LAVERS EXECUTIVE DIRECTOR AND PRESIDENT 4012535000 2014-11-14 true ALLAN SMITH 7742065553 2014-11-14 2013 2015-11-30 17:44:51Z LAWRENCE D LAVERS ONE BURNSIDE STREET BRISTOL RI 02809 1292878 false X WWW.HERRESHOFF.ORG X 1971 RI INTERPRETATION OF THE HISTORY AND ACCOMPLISHMENTS OF THE HERRESHOFF MFG CO. AND THE AMERICA'S CUP. 22 21 26 100 0 643039 520753 293043 350773 -310113 73484 28524 37474 654493 982484 0 0 525886 525134 0 180033 593752 554441 1119638 1079575 -465145 -97091 4583257 4504571 1637272 1616677 2945985 2887894 INTERPRETATION OF THE HISTORY false false 333965 530167 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 AN OPPORTUNITY TO EXPLORE THE WORLD'S LARGEST COLLECTION OF ANY ONE NAVAL ARCHITECT'S LIFE WORK. THE GENIUS OF THE HERRESHOFF BROTHERS IS UNSURPASSED WITH THEIR COMBINATION OF BUSINESS ACUMEN AND ENGINEERING EXCELLENCE. 325192 276685 PROGRAM ACTIVITIES INCLUDING: THE SEAMANSHIP PROGRAM, LECTURES, THE MENTORSHIP PROGRAM IN CLASSIC BOAT MAINTENANCE, AND EDUCATIONAL PARTNERSHIP. 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. 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 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 NOTEWORTY PAPERS NOT PRESENTED) ARE DISTRIBUTED TO THE HUNDREDS OF BUILDERS, DESIGNERS, OWNERS, AND ENTHUSIASTS WHO A 659157 true true false false false false false true false true true false false false true true false true false false false false false false true false false false false false false false false true false true true true true false false false false true false false false true 20 0 true 26 true false false false false false true true false false false false false X 22 21 true false false false true true true true true false false true true true true true true true true false RI X X LYDIA BERGERON CFO 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 ALFRED G BISSET VICE CHAIRMAN 2.00 X X 0 0 0 BERNARD H GUSTIN DIRECTOR 1.00 X 0 0 0 DAVID CURTIN DIRECTOR 1.00 X 0 0 0 JANICE G DAVISON DIRECTOR 1.00 X 0 0 0 DAVID FORD CHAIRMAN 3.00 X X 0 0 0 ERIC GOETZ DIRECTOR 1.00 X 0 0 0 ELIZABETH GRANOFF DIRECTOR 1.00 X 0 0 0 DAVID HIBBITT 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 MARSHALL LAWSON DIRECTOR 1.00 X 0 0 0 JOOP NAGTEGAAL DIRECTOR 2.00 X 0 0 0 ANDREW V TYSKA DIRECTOR 1.00 X 0 0 0 CHRISTOPHER M WICK DIRECTOR 1.00 X 0 0 0 ARTHUR LEE DIRECTOR 45 X WILLIAM DYER JONES CHIEF EXECUTIVE OFFICER 40 X 63420 13535 ROBERT D YARO DIRECTOR 1 X GEORGE B LUCAS DIRECTOR 1 X BRAD SHIPP DIRECTOR 1 X LAWRENCE D LAVERS EXEC. DIRECTOR & PRESIDENT 40 X X 68701 2522 ELIZABETH E MYER DIRECTOR 1 X GEOFFREY HOPPER TREASURER 3 X X STEPHEN R FRARY DIRECTOR 1 X LYDIA BERGERON CHIEF FINANCIAL OFFICER 40 X X 70000 202121 16057 0 false false false 0 51107 25772 443874 520753 MUSEUM ACTIVITIES 611710 196022 ADMISSIONS 611710 35411 WATERFRONT PROGRAMS 611710 63818 SAILING SCHOOL 611600 49357 MISCELLANOUS REVENUE 900099 6165 350773 19372 19372 111828 94046 17782 17782 17782 195198 141086 54112 54112 54112 34516 25772 18826 15690 15690 60438 56436 4002 4002 982484 426669 35062 213669 15294 132566 65809 235068 120607 43903 70558 20913 11082 2193 7638 55484 20803 20336 14345 8639 0 8639 0 863 0 863 0 21069 0 21069 0 4045 4045 0 0 32820 8945 10142 13733 7465 0 7465 0 24715 24715 0 0 7688 459 1449 5780 76864 64613 12251 0 202232 195545 6297 390 60338 55759 4076 503 MISCELLANEOUS 3473 3465 8 0 MISCELLANEOUS TAXES 695 0 695 0 OTHER PROGRAM ACTIVITIES 4882 4882 0 0 BAD DEBTS 9196 9196 0 0 89457 119747 -31567 1277 1079575 659157 240385 180033 47005 164560 109098 175401 157934 104890 20768 8742 16931 20146 6321 33933 6747606 3039871 3973289 3707735 168061 186947 9908 27819 73942 74398 4583257 4504571 174582 145817 5247 10616 7981 1275694 1447763 181749 4500 1637272 1616677 X 2446305 2337377 335445 383298 164235 167219 2945985 2887894 4583257 4504571 -97091 39000 X false true X true false X 1101216 556590 649088 667979 520753 3495626 1101216 556590 649088 667979 520753 3495626 690293 2805333 1107 398 -1906 36 19372 19007 3514633 267180 0.79820 0.82870 X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 164235 7970 18532 3790 186947 152410 11825 36 36 164235 136850 15560 -1906 -1906 152410 135650 1200 399 399 136850 132073 3577 135650 0.00000 1.00000 0.00000 true true 531385 531385 3404329 1708614 1695715 587486 439431 148055 2224406 891826 1332580 3707735 DERIVATIVE LIABILITY MISCELLANEOUS LIABILITIES 4500 4500 X Pt III Line 1a THE COLLECTION, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTION SINCE THE ORGANIZATION'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. THE COLLECTION ARE ITEMS OF HISTORICAL SIGNIFICANCE THAT ARE HELD BY THE ORGANIZATION TO BE PRESERVED AND PROTECTED. SUCH COLLECTION, WHICH CONSIST OF YACHTS, DESIGNS, BOOKS, PHOTOS AND OTHER MEMORABILIA ARE MADE AVAILABLE TO THE GENERAL PUBLIC FOR STUDY AND VIEWING. PURCHASES OF COLLECTION ITEMS ARE RECORDED Pt III Line 1a 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 ITEMS ARE RESTRICTED BY THE DONOR. THE ORGANIZATION PROVIDES RESOURCES TO ENSURE THE COLLECTION IS PROTECTED AND PRESERVED IN ACCORDANCE WITH THE POLICIES OF THE AMERICAN ASSOCIATION OF MUSEUMS. Pt III Line 4 THE HERRSHOFF 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 OBLIGA Pt 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 DONOR STIPULATIONS. Pt X Line 2 THE ORGANIZATION RECORDS ITS TAX POSITIONS IN ACCORDANCE WITH FASB ACCOUNTING STANDARDS CODIFICATION (ASC) NO. 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 JULY 4 EVENT 20400 2420 17980 4083 4414 4600 1519 FROSTBITERS 46151 23352 22799 303 1100 1810 1750 382 66551 25772 40779 303 5183 6224 6350 1901 19961 20818 HALSEY C HERRESHOFF TRUSTEE ACCOUNTS PAYABLE X 7981 7981 false false false 7981 ERIK LAVERS FAMILY MEMBER/KEY MANAGEMENT 11880 EMPLOYEE PAYROLL false HALSEY HERRESHOFF II TRUSTEE 14625 BROKERAGE COMMISSION false ELISABETH LAVERS SPOUSE/KEY MANAGEMENT 44913 EMPLOYEE PAYROLL false HALSEY C HERRESHOFF TRUSTEE 2978 ALLOWANCE AGAINST RECEIVABLE false X 15 EST. FMV X 3 39000 EST. FMV X EXHIBIT EQUIPMENT 1 585 EST. FMV X SPECIAL EVENT SUPPORT 75 119537 EST. FMV X MISCELLANEOUS 10 3140 EST. FMV false false true Pt I Line 32b THE ORGANIZATION USES HERRESHOFF MARINE DESIGN AND OTHER YACHT Pt I Line 32b BROKERS FOR THE BROKERAGE OF CERTAIN VESSELS. Pt VI, Line 2 HALSEY HERRESHOFF (BOARD DIRECTOR)AND HALSEY HERRESHOFF II Pt VI, Line 2 (BOARD DIRECTOR) ARE RELATED. Pt VI, Line 6 HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS. THERE IS AN ANNUAL MEETING Pt VI, Line 6 EACH YEAR OF THE MEMBERSHIP FOR THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE Pt VI, Line 6 TERMS HAVE EXPIRED AND FOR THE TRANSACTIONS OF SUCH OTHER BUSINESS AS MAY Pt VI, Line 6 PROPERLY COME BEFORE THE MEETING. EACH INDIVIDUAL, FAMILY, OR GROUP Pt VI, Line 6 MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY Pt VI, Line 6 BE ENTITLED TO ONE VOTE, WHICH MAY BE GIVEN IN PERSON OR BY PROXY. Pt VI, Line 6 THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE Pt VI, Line 6 ORGANIZATION DURING THE PRECEDING FISCAL YEAR. THE TREASURER Pt VI, Line 6 WILL REPORT ON THE FISCAL CONDITION OF THE ORGANIZATION DURING Pt VI, Line 6 THE PRECEDING FISCAL YEAR. Pt VI, Line 7a HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS. Pt VI, Line 7a THERE IS AN ANNUAL MEETING EACH YEAR OF THE MEMBERSHIP FOR Pt VI, Line 7a THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE TERMS HAVE Pt VI, Line 7a EXPIRED AND FOR THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY PROPERLY COME Pt VI, Line 7a BEFORE THE MEETING. EACH INDIVIDUAL, FAMILY, OR GROUP MEMBERSHIP SHALL BE Pt VI, Line 7a DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE, WHICH Pt VI, Line 7a MAY BE GIVEN IN PERSON OR BY PROXY. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE Pt VI, Line 7a ACTIVITIES OF THE MUSEUM DURING THE PRECEDING FISCAL YEAR. THE TREASURER Pt VI, Line 7a WILL REPORT ON THE FISCAL CONDITION OF THE MUSEUM DURING THE PRECEDING Pt VI, Line 7a FISCAL YEAR. Pt VI, Line 7b HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS Pt VI, Line 7b THERE IS AN ANNUAL MEETING EACH YEAR OF THE MEMBERSHIP Pt VI, Line 7b FOR THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE TERMS HAVE Pt VI, Line 7b EXPIRED AND FOR THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY PROPERLY COME Form 990, Part IX, Line 24f EXHIBIT EXPENSES 1981. 1981. 0. 0. REPAIRS 41388. 41388. 0. 0. AMERICA'S CUP HALL OF FAME 21433. 21433. 0. 0. SAILING SCHOOL SCHOLARSHIPS 9198. 9198. 0. 0. REGATTA 9550. 9550. 0. 0. THIRD PARTY RENTALS 11128. 11128. 0. 0. PUBLICATION ROYALTIES 1640. 1640. 0. 0. CLASSIC YACHT SYMPOSIUM 1332. 1332. 0. 0. POSTAGE 4592. 0. 3315. 1277. INTEREST RATE SWAP ADJ -34882. 0. -34882. 0. YACHT BROKERAGE 14625. 14625. 0. 0. PROGRAM SUPPLIES 7472. 7472. 0. 0. Pt VI, Line 7b BEFORE THE MEETING. EACH INDIVIDUAL, FAMILY, OR GROUP MEMBERSHIP SHALL BE Pt VI, Line 7b DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE, WHICH Pt VI, Line 7b MAY BE GIVEN IN PERSON OR BY PROXY. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE Pt VI, Line 7b ACTIVITIES OF THE MUSEUM DURING THE PRECEDING FISCAL YEAR. THE TREASURER Pt VI, Line 7b WILL REPORT ON THE FISCAL CONDITION OF THE MUSEUM DURING THE Pt VI, Line 7b PRECEDING FISCAL YEAR. Pt VI, Line 11b THE FEDERAL FORM 990 IS PREPARED BY THE EXECUTIVE DIRECTOR AND CHIEF FINANCIAL Pt VI, Line 11b OFFICER AND REVIEWED BY THE MUSEUM'S AUDITOR. THAT DRAFT IS SUBMITTED TO Pt VI, Line 11b THE FINANCE COMMITTEE FOR REVIEW, AND A FINAL VERSION IS PROVIDED TO ALL MEMBERS Pt VI, Line 11b OF THE BOARD OF DIRECTORS PRIOR TO THE FILING DATE. Pt VI, Line 12c THE DIRECTORS PROVIDE SELF-DECLARATION OF POSSIBLE CONFLICTS Pt VI, Line 12c OF INTEREST AS PART OF THE ANNUAL MEETING RESPONSIBILITIES. Pt VI, Line 12c THE CONFLICT OF INTEREST FORMS ARE REVIEWED BY THE CHAIRMAN OF THE Pt VI, Line 12c BOARD WITH THE VICE CHAIRMAN OF THE BOARD ACTING IN CASE OF THE Pt VI, Line 12c CHAIRMAN'S OWN FILING. Pt VI, Line 15a SALARIES ARE INFORMALLY REVIEWED AND APPROVED BY THE Pt VI, Line 15a BOARD OF DIRECTORS THROUGH THE REVIEW AND APPROVAL OF THE Pt VI, Line 15a OPERATING BUDGET ANNUALLY. Pt VI, Line 15b SALARIES ARE INFORMALLY REVIEWED AND APPROVED BY THE Pt VI, Line 15b BOARD OF DIRECTORS THROUGH THE REVIEW AND APPROVAL OF THE Pt VI, Line 15b OPERATING BUDGET ANNUALLY. Pt VI, Line 19 COPIES OF GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND Pt VI, Line 19 FINANCIAL STATEMENTS ARE AVAILABLE FROM THE CHIEF FINANICAL OFFICER Pt VI, Line 19 UPON WRITTEN REQUEST. HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION 1 BURNSIDE STREET BRISTOL RI 02809 263689010 REAL PROPERTY RI HERRESHOFF MARINE MUSEUM C 456 74398 0.78000 false false false false false false false false false false false true false true false false true false false HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION l 4015 ACTUAL COST HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION n 2000 EST. FMV HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION q 2546 ACTUAL COST