2013-11-15T08:39:05-08:00 2012-12-31 ALLAN SMITH CPA 56 N MAIN ST STE 410 FALL RIVER MA 02720 990 2012-01-01 237102744 HERRESHOFF MARINE MUSEUM HERR 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 LAWRENCE D LAVERS 4012535000 2013-11-14 true ALLAN SMITH 7742065553 2013-10-27 2012 2016-03-07 17:11:31Z LAWRENCE D LAVERS ONE BURNSIDE STREET BRISTOL RI 02809 1170214 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 20 25 100 0 649088 643039 164215 293043 43325 -310113 -33613 28524 823015 654493 0 0 380154 525886 12000 0 176495 688622 593752 1080776 1119638 -257761 -465145 5103456 4583257 1721038 1637272 3382418 2945985 INTERPRETATION OF THE HISTORY false false 319817 521321 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. 367253 254266 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. 4039 17055 CLASSIC YACHT SYMPOSIUM: 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 ATTEND 691109 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 false false true true true true false false false false true false false false true 19 0 true 25 true false false false false false true true false false false false X 22 20 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 2.00 X X 0 0 0 BERNARD GUSTIN 1.00 X 0 0 0 DAVID CURTIN 1.00 X 0 0 0 JANICE G DAVISON 1.00 X 0 0 0 DAVID FORD 3.00 X X 0 0 0 ERIC GOETZ 1.00 X 0 0 0 ELIZABETH GRANOFF 1.00 X 0 0 0 DAVID HIBBITT 1.00 X 0 0 0 HALSEY C HERRESHOFF 1.00 X 0 0 0 HALSEY C HERRESHOFF II 1.00 X 0 0 0 MARSHALL LAWSON 1.00 X 0 0 0 JOOP NAGTEGAAL 1.00 X 0 0 0 JAY REPASS 1.00 X 0 0 0 CHRISTOPHER WICK 1.00 X 0 0 0 ANDREW TYSKA 1 X WILLIAM DYER JONES 40 X X 68190 15544 ROBERT YARO 1 X GEORGE LUCAS 1 X BRAD SHIPP 1 X LAWRENCE D LAVERS 40 X X 66660 2782 ELIZABETH E MYER 1 X GEOFFREY HOPPER 3 X X STEPHEN R FRARY 1 X LYDIA BERGERON 40 X 63269 198119 18326 0 false false false 0 55909 127126 460004 643039 MUSEUM ACTIVITIES 611710 141955 ADMISSIONS 611710 29390 WATERFRONT PROGRAMS 611710 76580 SAILING SCHOOL 611600 35692 MISCELLANOUS REVENUE 900099 9426 293043 36 36 115751 97900 17851 17851 17851 30858 341007 -310149 -310149 -310149 24940 127126 20809 4131 4131 62547 56005 6542 6542 654493 7287 4167 208866 14565 131775 62526 234170 130436 26774 76960 29396 14249 3291 11856 53454 23929 17568 11957 0 0 0 0 3320 0 3320 0 21334 0 21334 0 9349 0 9349 0 7564 7564 0 0 25558 12184 5574 7800 6983 0 6983 0 16848 16848 0 0 2838 194 289 2355 77785 64341 13444 0 211858 208116 3742 0 64194 60530 3361 303 MISCELLANEOUS 26706 25198 1508 0 OTHER MUSEUM ACTIVITIES 3491 3491 0 0 OTHER PROGRAM ACTIVITIES 12424 12424 0 0 VEHICLE TAX 339 339 0 0 103161 96701 3722 2738 1119638 691109 252034 176495 51382 47005 144679 109098 157717 157934 11666 20768 11786 16931 10392 6321 6890552 2917263 4472245 3973289 156200 168061 13650 9908 73739 73942 5103456 4583257 190103 174582 5730 5247 50000 1297411 1275694 177794 181749 1721038 1637272 X 2834389 2446305 395619 335445 152410 164235 3382418 2945985 5103456 4583257 X -465145 23000 5712 X X false true X true false X 900814 1101216 556590 649088 667979 3875687 900814 1101216 556590 649088 667979 3875687 653991 3221696 12280 1107 398 -1906 36 11915 8 8 3887610 326517 0.82870 0.79480 X 0 0 0 EXPLANATION FOR OTHER INCOME : MISCELLANEOUS INCOME; OTHER INCOME PART II, LINE 10; DESCRIPTION: OTHER INCOME; 2008: 8.; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 152410 11825 36 36 164235 136850 15560 -1906 -1906 152410 135650 1200 399 399 136850 132073 3577 135650 132073 132073 0.00000 1.00000 0.00000 false false 531385 531385 3371327 1611536 1759791 571434 413970 157464 2416406 891757 1524649 3973289 DERIVATIVE LIABILITY 172082 MISCELLANEOUS LIABILITIES 9667 181749 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 COLLECTIONS, 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 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 ORGANIZATION ALSO CONSIDERS SELF-DEALINGS, EXCESS BUSINESS HOLDINGS, CERTAIN INVESTMENT ACTIVITIES AND SPECIFIC TYPES OF JULY 4 EVENT 22890 22890 2881 11622 4500 1806 NONE 22890 22890 2881 11622 4500 1806 20809 2081 ERIK LAVERS KEY MANAGEMENT 17280 EMPLOYEE false ELISABETH E LAVERS KEY MANAGEMENT 33327 EMPLOYEE false ELLIOT J GRANOFF TRUSTEE 4875 EMPLOYEE false X 1 2000 APPRAISAL X 2 21000 APPRAISAL X 2 APPRAISAL X SPECIAL EVENT SUPPORT 75 114620 EST. FMV X ADMIN. & FUNDRAISING SUPPORT 700 21280 ACTUAL HOURS & RATE X REPAIRS & MAINTENANCE 1 300 EST. FMV X MISCELLANEOUS 2 1975 EST. FMV false false true Pt I Line 32b Form 990 THE ORGANIZATION USES HERRESHOFF MARINE DESIGN AND OTHER YACHT Pt I Line 32b Form 990 BROKERS FOR THE BROKERAGE OF CERTAIN VESSELS. Pt VI, Line 2 HALSEY HERRESHOFF (BOARD DIRECTOR)AND HALSEY Pt VI, Line 2 HERRESHOFF II (BOARD DIRECTOR) ARE RELATED. Pt VI, Line 6 HERRESHOFF MARINE MUSEUM HAS MEMBERS WITH VOTING RIGHTS. Pt VI, Line 6 THERE IS AN ANNUAL MEETING EACH YEAR OF THE MEMBERSHIP FOR Pt VI, Line 6 THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE TERMS HAVE Pt VI, Line 6 EXPIRED AND FOR THE TRANSACTIONS OF SUCH OTHER BUSINESS AS MAY PROPERLY COME Pt VI, Line 6 BEFORE THE MEETING. EACH MEMBER HAS ONE VOTE WHICH MAY BE GIVEN IN PERSON Pt VI, Line 6 OR BY PROXY. EACH FAMILY OR GROUP MEMBERSHIP IS ONE VOTE. EACH FAMILY OR Pt VI, Line 6 GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE Pt VI, Line 6 ENTITLED TO ONE VOTE. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE Pt VI, Line 6 ACTIVITIES OF THE ORGANIZATION DURING THE PRECEDING FISCAL YEAR. THE TREASURER Pt VI, Line 6 WILL REPORT ON THE FISCAL CONDITION OF THE ORGANIZATION DURING THE PRECEDING Pt VI, Line 6 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 MEMBER HAS ONE VOTE WHICH MAY BE GIVEN IN PERSON Pt VI, Line 7a OR BY PROXY. EACH FAMILY OR GROUP MEMBERSHIP IS ONE VOTE. EACH FAMILY OR Pt VI, Line 7a GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE Pt VI, Line 7a ENTITLED TO ONE VOTE. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE Pt VI, Line 7a ON THE 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 Form 990, Part IX, Line 24f PRINTING AND PUBLICATIONS 19790. 19790. 0. 0. REPAIRS 40440. 40440. 0. 0. AMERICA'S CUP HALL OF FAME 10454. 10454. 0. 0. SAILING SCHOOL SCHOLARSHIPS 6569. 6569. 0. 0. REGATTA 10606. 10606. 0. 0. THIRD PARTY RENTALS 4570. 4570. 0. 0. MEMBERSHIP 233. 233. 0. 0. CLASSIC YACHT SYMPOSIUM 4039. 4039. 0. 0. POSTAGE 6460. 0. 3722. 2738. 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 Pt VI, Line 7b BEFORE THE MEETING. EACH MEMBER HAS ONE VOTE WHICH MAY BE GIVEN IN PERSON Pt VI, Line 7b OR BY PROXY. EACH FAMILY OR GROUP MEMBERSHIP SHALL BE Pt VI, Line 7b DEEMED TO ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO Pt VI, Line 7b ONE VOTE. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE ACTIVITIES Pt VI, Line 7b 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 CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER Pt VI, Line 11b AND THE ORGANIZATION'S EXECUTIVE COMMITTEE AND FINANCE COMMITTEE Pt VI, Line 11b ARE ASSIGNED THE RESPONSIBILITY FOR THE REVIEW AND Pt VI, Line 11b APPROVAL OF ALL INFORMATION AND TAX FILINGS FOR THE FEDERAL Pt VI, Line 11b GOVERNMENT AND STATE OF RHODE ISLAND. 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 POTENTIAL CONFLICTS IDENTIFIED ARE REVIEWED AND APPROVED Pt VI, Line 12c IF APPROPRIATE AS A PART OF THE BOARD OF DIRECTORS' Pt VI, Line 12c ROUTINE RESPONSIBILITIES. 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 THE ORGANIZATION MAKES ALL FEDERAL AND STATE OF RHODE Pt VI, Line 19 ISLAND INFORMATION FILINGS, AND GOVERNING DOCUMENTS AVAILABLE Pt VI, Line 19 UPON FORMAL REQUEST. VARIOUS COMPANIES MAKE THESE FILINGS Pt VI, Line 19 AND THE AUDITED FINANCIAL STATEMENTS AVAILABLE. Pt XI LINE 5 : CHANGE IN NET ASSETS: Pt XI UNREALIZED GAIN ON INTEREST RATE SWAP $5,712 Pt XII, Line 2c THE FINANCE COMMITTEE AS A COMMITTEE OF THE BOARD OF Pt XII, Line 2c DIRECTORS, REVIEWS AND APPROVES THE AUDITOR SELECTION FOR Pt XII, Line 2c RECOMMENDATION TO THE FULL BOARD OF DIRECTORS. HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION 1 BURNSIDE STREET BRISTOL RI 02809 263689010 REAL PROPERTY RI HERRESHOFF MARINE MUSEUM C 203 73942 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 2031 ACTUAL COST HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION n 2000 EST. FMV HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION q 1265 ACTUAL COST