2011-11-14T06:26:59-06:00 2010-12-31 CCR LLP 50 EXCHANGE TERRACE PROVIDENCE RI 02903 990 2010-01-01 237102744 HERRESHOFF MARINE MUSEUM HERR 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 LAWRENCE D LAVERS 4012535000 2011-11-14 1 FRANCIS K BROWN II 4012741200 2011-11-10 2010 2016-03-07 17:11:31Z AMERICA'S CUP HALL OF FAME LAWRENCE D LAVERS ONE BURNSIDE STREET BRISTOL RI 02809 1041199 0 X WWW.HERRESHOFF.ORG X 1971 RI INTERPRETATION OF THE HISTORY AND ACCOMPLISHMENTS OF THE HERRESHOFF MFG CO. AND THE AMERICA'S CUP. 20 19 20 38 0 0 1101216 556590 318356 395657 1107 398 3253 16801 1423932 969446 0 0 0 0 512052 479044 0 0 244770 774116 845870 1286168 1324914 137764 -355468 5489268 5361031 1386045 1660945 4103223 3700086 X THE HERRESHOFF MARINE MUSEUM AND AMERICA'S CUP HALL OF FAME ARE DEDICATED TO THE EDUCATION AND INSPIRATION OF THE PUBLIC THROUGH PRESENTATIONS OF THE HISTORY AND INNOVATIVE WORK OF THE HERRESHOFF MANUFACTURING COMPANY AND THE AMERICA'S CUP COMPETITION. 0 0 177786 209117 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 PRESENTATIONS 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 ARCHITECTS LIFE WORK. THE GENIUS OF THE HERRESHOFF BROTHERS IS UNSURPASSED WITH THEIR COMBINATION OF BUSINESS ACUMEN AND ENGINEERING EXCELLENCE. 107542 117506 RENTAL ACTIVITIES: WITH THE FOUNDING OF THE HERRESHOFF MANUFACTURING COMPANY, BRISTOL, RI BECAME THE CORNERSTONE OF THE MARINE TRADES FOR THE STATE OF RHODE ISLAND AND THE WESTERN HEMISPHERE. THE HERRESHOFF MARINE MUSEUM IS COMMITTED TO FOSTERING INNOVATION AND EXCELLENCE WITHIN THE MARINE TRADES COMMUNITY. THIS IS DONE BY MAINTAINING A CAMPUS OF HISTORIC STRUCTURES, OCCUPIED BY MARINE RELATED BUSINESSES, AS AN INCUBATOR OF INNOVATION. IT IS THE GOAL OF THE MUSEUM TO HAVE AN ACTIVE VIBRANT ENVIRONMENT IN WHICH VISITORS CAN EXPERIENCE FIRST-HAND THE VARIOUS ASPECTS OF MARINE BUSINESS. 39776 32472 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, FITTINGS, POWERING AND RATING RULES. THE EVENT'S PROCEEDINGS (THE ASSEMBLAGE OF PAPERS AND DISCUSSIONS PRESENTED DURING THE SYMPOSIUM AS WELL AS NOTEWORTY PAPERS NOT PRESENTED) ARE DISTRIBUTED TO THE 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. 37710 27846 THE HERRESHOFF INSTITUTE SERVES AS THE PROGRAM AND FORMAL EDUCATION CENTER FOR THE MUSEUM. THROUGH THE HERRESHOFF INSTITUTE, THE MUSEUM PROVIDES OFFERINGS INCLUDING: THE SEAMANSHIP PROGRAM, LECTURES, THE MENTORSHIP PROGRAM IN CLASSIC BOAT MAINTENANCE, AND EDUCATIONAL PARTNERSHIPS. THE MENTORSHIP IN CLASSIC BOAT MAINTENANCE FILLS A LOST GAP IN CONNECTING YOUTH TO THE VALUE OF PLACE THROUGH HANDS ON EXPERIENCE IN HELPING TO CARE FOR THE MUSEUM'S ACTIVE-USE COLLECTION OF WATERCRAFT. THE PROGRAM'S FOCUS IS ON PROJECT PLANNING, ATTENTION TO DETAIL AND PRIDE IN OWNERSHIP BUILDING LIFE SKILLS AND FOSTERING RESPONSIBLE YOUNG ADULTS. THE SEAMANSHIP PROGRAM HAS A PRIMARY GOAL IN TEACHING SAILING SKILLS AND WATER AWARENESS TO CHILDREN AND ADULTS WITH A PRIMARY GOAL OF ESTABLISHING A LOVE OF THE MARINE ENVIRONMENT AND LIFELONG SAILORS. 37710 27846 362814 1 1 0 0 1 0 1 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 1 0 0 0 0 1 9 0 1 20 1 0 0 0 0 0 1 1 0 0 0 1 1 0 X 20 19 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 0 0 1 1 0 X LAWRENCE D LAVERS 4012535000 ONE BURNSIDE STREET BRISTOL RI 02809 ALFRED G BISSET 1.00 X X 0 0 0 BLAIR BROWN 1.00 X 0 0 0 DAVID C BURNHAM 1.00 X 0 0 0 ROBERT CHEW 1.00 X 0 0 0 DAVID CURTIN 1.00 X 0 0 0 JANICE 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 ERIC HALL 1.00 X 0 0 0 HALSEY C HERRESHOFF 27.00 X X 43216 0 1337 HALSEY C HERRESHOFF II 1.00 X 0 0 0 LAWRENCE D LAVERS 40.00 X X 0 0 0 MARSHALL LAWSON 1.00 X 0 0 0 JOOP NATEGAAL 1.00 X 0 0 0 JAY REPRASS 1.00 X 0 0 0 CHRISTOPHER H RUTH 1.00 X 0 0 0 MICHAEL WARREN 1.00 X X 0 0 0 CHRISTOPHER WICK 1.00 X 0 0 0 GEOFFREY DAVIS 3.00 X X 0 0 0 LAWRENCE A FISHER 40.00 X 91602 0 6308 JONATHAN GOFF 40.00 X 60252 0 0 WILLIAM DYER JONES 40.00 X 10153 0 254 205223 0 7899 0 0 0 0 0 52317 13017 491256 56000 556590 MUSEUM ACTIVITIES 611710 234634 234634 RENTAL COMPLEX INCOME 532000 117506 117506 CLASSIC YACHT SYMPOSIU 611710 32472 32472 SAILING SCHOOL 611600 6355 6355 MISCELLANEOUS REVENUE 900099 4120 4120 570 570 395657 398 398 88554 71753 16801 16801 969446 412458 0 398 205224 30126 121728 53370 206426 98887 8795 98744 19579 3210 6308 10061 47815 16787 14313 16715 24833 24833 68970 68970 11177 11177 1985 1985 14781 11478 3303 4102 2108 1994 600 600 49964 11776 38188 5658 5658 82004 82004 236147 236147 51877 51877 REPAIRS & MAINTENANCE 98335 96734 1601 OTHER MUSEUM ACTIVITIES 53273 53273 OTHER PROGRAM ACTIVITIE 36046 36046 PRINTING 33601 33601 PROPERTY TAXES 25154 200 24954 47363 1589 19153 26621 1324914 362814 717330 244770 59018 33626 82826 132763 179091 189759 43392 20824 25000 108307 98947 16564 10250 7103001 2485179 4771826 4617822 135650 142624 92594 89416 5489268 5361031 200424 349120 5725 1185621 1306100 1386045 1660945 X 3769489 3122217 198084 441019 135650 136850 4103223 3700086 5489268 5361031 X -355468 -47669 X X 0 1 1 X 0 X 1340150 657464 900814 1101216 556590 4556234 1340150 657464 900814 1101216 556590 4556234 479350 4076884 179348 254713 12280 1107 398 447846 2185 26218 8 28411 5032491 2178817 0.81010 0.79550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 4992 0 0 X X X 0 500490 250978 173599 577869 412108 70237 125303 357042 370034 92862 3577 54365 412108 0.00000 0.23680 0.73620 0 0 531385 531385 3321989 1423996 1897993 13765 5621 8144 529367 374408 154959 2706495 681154 2025341 4617822 PART III, LINE 1A: COLLECTIONS ARE ITEMS OF HISTORICAL SIGNIFICANCE THAT ARE HELD BY THE MUSEUM TO BE PRESERVED AND PROTECTED. SUCH COLLECTIONS, WHICH CONSIST OF YACHTS, BOOKS, PHOTOS AND OTHER MEMORABILIA, ARE MADE AVAILABLE TO THE GENERAL PUBLIC FOR STUDY AND VIEWING. COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. IF A DE-ACCESSIONED COLLECTION ITEM IS SOLD, IT IS SUBJECT TO A MUSEUM POLICY THAT THE PROCEEDS FROM THE SALES OF COLLECTION ITEMS BE RESTRICTED TO THE ACQUISITION AND/OR CARE OF OTHER COLLECTION ITEMS. 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 THORUGH 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 MUSEUM 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 MUSEUM TO ITS COLLECTIONS IS PARAMOUNT. THE MUSEUM DERIVES ITS CENTRAL PURPOSE AND ITS USE TO THE GENERAL PUBLIC FROM ITS COLLECTIONS, WHICH ARE AN ESSENTIAL PART OF THE HERRESHOFF MANUFACTURING COMPANY AND AMERICA'S CUP RECORD. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. X X X X X X 1 JANET ZWOLINSKI 303 NEW MEADOW ROAD BARRINGTON RI 02806 FUNDRAISING 0 0 20499 -20499 20499 -20499 WILLIAM DYER JONES X 25000 25000 0 1 1 25000 HALSEY HERRESHOFF PRESIDENT, RELATED TO OTHER BOARD MEMBER 11831 THE MUSEUM RENTS SPACE IN A BUILDING OWNED BY THE MUSEUM'S PRESIDENT, IN WHICH THE MUSEUM HAS BUILT AN EXHIBIT. 0 X 1 56000 APPRAISAL 1 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 HALSEY HERRESHOFF (FORMER PRESIDENT AND BOARD DIRECTOR) AND HALSEY HERRESHOFF II (BOARD 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 TRANSACTION OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. EACH MEMBER HAS ONE VOTE WHICH MAY BE GIVEN IN PERSON OR BY PROXY. EACH FAMILY OR GROUP MEMBERSHIP IS ONE VOTE. EACH FAMILY OR GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE MUSEUM DURING THE PRECEDING FISCAL YEAR. THE TREASURER WILL REPORT ON THE FISCAL CONDITION OF THE MUSEUM DURING THE PRECEDING FISCAL 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 TERMS HAVE EXPIRED AND FOR THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. EACH MEMBER HAS ONE VOTE WHICH MAY BE GIVEN IN PERSON OR BY PROXY. EACH FAMILY OR GROUP MEMBERSHIP IS ONE VOTE. EACH FAMILY OR GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE MUSEUM DURING THE PRECEDING FISCAL YEAR. THE TREASURER WILL REPORT ON THE FISCAL CONDITION OF THE MUSEUM DURING THE PRECEDING FISCAL 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 MEMBERSHIP FOR THE ELECTION OF DIRECTORS TO SUCCEED THOSE WHOSE TERMS HAVE EXPIRED AND FOR THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. EACH MEMBER HAS ONE VOTE WHICH MAY BE GIVEN IN PERSON OR BY PROXY. EACH FAMILY OR GROUP MEMBERSHIP IS ONE VOTE. EACH FAMILY OR GROUP MEMBERSHIP SHALL BE DEEMED TO BE ONE MEMBER AND SHALL COLLECTIVELY BE ENTITLED TO ONE VOTE. THE CHAIRMAN OR PRESIDENT WILL REPORT ON THE ACTIVITIES OF THE MUSEUM DURING THE PRECEDING FISCAL YEAR. THE TREASURER WILL REPORT ON THE FISCAL CONDITION OF THE MUSEUM DURING THE PRECEDING FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S MANAGEMENT WILL SEND THE 990 TO THE MUSEUM'S EXECUTIVE COMMITTEE FOR REVIEW AND COMMENT. MANAGEMENT WILL ALSO REVIEW THEIR COMMENTS VIA AN EXECUTIVE COMMITTEE MEETING TO BE HELD VIA TELECONFERENCE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION REVIEWS OTHER NONPROFITS PAYSCALES TO DETERMINE SALARY COMPENSATION FOR EXECUTIVES. THE ORGANIZATION REVIEWS NEMA PAYSCALES AND REVIEWS OTHER NON-PROFITS 990'S. SALARY IS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE HERRESHOFF MARINE MUSEUM HAS HISTORICALLY, AND WILL CONTINUE TO, MAKE ITS GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED LOSS ON INTEREST RATE SWAP -47,669. TOTAL TO FORM 990, PART XI, LINE 5: -47,669. 990 PART XI, LINE 2C THE INDEPENDENT ACCOUNTANTS REPORT DIRECTLY TO THE BOARD OF DIRECTORS. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. FORM 990, SCHEDULE D, PART V, LINE 1A AN ERROR RESULTING IN A MISSTATEMENT OF PREVIOUSLY REPORTED BALANCES WAS DISCOVERED DURING THE CURRENT YEAR. ACCORDINGLY, A RECLASSIFICATION WAS MADE BETWEEN UNRESTRICTED AND TEMPORARILY RESTRICTED NET ASSETS AS OF THE BEGINNING OF THE YEAR. THE HERRESHOFF MARINE MUSEUM SUBMITTED A SECOND EXTENSION REQUEST TO FILE FORM 990 ON JULY 19, 2011. THIS EXTENSION REQUEST EXTENDS THE DUE DATE TO FILE TO NOVEMBER 15, 2011. HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION INC 1 BURNSIDE STREET BRISTOL RI 02809 263689010 MANAGING THE HERRESHOFF MARINE MUSEUM CONDOMINIUM IN BRISTOL, RI RI HERRESHOFF MARINE MUSEUM C 190 74396 0.78000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 HERRESHOFF MARINE MUSEUM CONDOMINIUM ASSOCIATION INC Q 9642 BOOK VALUE