SEAPORT MUSEUM NEW YORK

EIN: 132596500 501(c)(3) Arts, Culture & Humanities

NEW YORK, NY

Total Revenue
$6,471,516
Total Expenses
$5,305,698
Total Assets
$26,894,548
Net Assets
$23,210,603
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
NY
Principal Officer
DAVID SHEEHAN
Phone
2127488600
Tax Period
2023-01-01 to 2023-12-31

SEAPORT MUSEUM NEW YORK, founded in 1967, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.5M in total revenue in fiscal year 2023. Revenue fell 47% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.2M, a strong 18% operating margin.

Mission

SOUTH STREET SEAPORT MUSEUM IS A CULTURAL INSTITUTION DEDICATED TO TELLING THE STORY OF THE RISE OF NEW YORK AS A PORT CITY AND ITS CRITICAL ROLE IN THE DEVELOPMENT OF THE UNITED STATES. THE MUSEUM USES ITS HISTORIC BUILDINGS AND SHIPS TO PROVIDE INTERACTIVE EXHIBITS, EDUCATION, AND EXPERIENCES.

Program Service Accomplishments

Program 1
Expenses: $1,958,254 Revenue: $35,054

SCHOOL AND PUBLIC EVENTSTHE SEAPORT MUSEUM WELCOMED OVER 88,315 VISITORS IN 2023. OVER 150 FREE PUBLIC PROGRAMS ENGAGED 9,594 INDIVIDUALS IN CONVERSATIONS, WORKSHOPS, AND CULTURAL EXPERIENCES...

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SCHOOL AND PUBLIC EVENTSTHE SEAPORT MUSEUM WELCOMED OVER 88,315 VISITORS IN 2023. OVER 150 FREE PUBLIC PROGRAMS ENGAGED 9,594 INDIVIDUALS IN CONVERSATIONS, WORKSHOPS, AND CULTURAL EXPERIENCES. HIGHLIGHTS IN 2023 INCLUDED THE PRIDE-THEMED "RAINBOWS ON THE HUDSON" BOAT PARADE; THE CHILEAN INDEPENDENCE DAY FIESTAS PATRIAS CELEBRATION; BLACKSMITHING DEMONSTRATIONS ON PIER 16; AND THE RIVER TO RIVER FESTIVAL. FAN FAVORITE PROGRAMS LIKE THE MONTHLY SEA CHANTEY SINGS, FAMILY ACTIVITY STATIONS, AND ANNUAL PARTNERSHIPS WITH CITY OF WATER DAY, ARCHTOBER, ALL CONTINUED AS WELL. SCHOOL-AGE FIELD TRIPS CONTINUED THROUGHOUT 2023, WELCOMING 5,503 K-12 STUDENTS AND THEIR EDUCATORS TO FIELD TRIPS DOCKSIDE ON PIER 16 AND IN THE HISTORIC DISTRICT.

Program 2
Expenses: $1,027,420 Revenue: $274,176

MARINE OPERATIONSTHROUGHOUT THE YEAR, VISITORS OF ALL AGES EXPLORED 1885 CARGO SHIP WAVERTREE AND 1908 LIGHTSHIP AMBROSE OUTDOORS. DURING THE PEAK SAILING MONTHS (MAYOCTOBER), BOTH 1885 SCHOONER...

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MARINE OPERATIONSTHROUGHOUT THE YEAR, VISITORS OF ALL AGES EXPLORED 1885 CARGO SHIP WAVERTREE AND 1908 LIGHTSHIP AMBROSE OUTDOORS. DURING THE PEAK SAILING MONTHS (MAYOCTOBER), BOTH 1885 SCHOONER PIONEER AND 1930 TUGBOAT W.O. DECKER TOOK TRIPS OUT ON NEW YORK HARBOR.

Program 3
Expenses: $725,808 Revenue: $88,862

CURATORIALTHOUSANDS OF VISITORS ENJOYED INDOOR EXHIBITIONS AT SCHERMERHORN ROW, WHICH IN 2023 INCLUDED "SOUTH STREET AND THE RISE OF NEW YORK;" "MILLIONS: MIGRANTS AND MILLIONAIRES ABOARD THE GREAT...

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CURATORIALTHOUSANDS OF VISITORS ENJOYED INDOOR EXHIBITIONS AT SCHERMERHORN ROW, WHICH IN 2023 INCLUDED "SOUTH STREET AND THE RISE OF NEW YORK;" "MILLIONS: MIGRANTS AND MILLIONAIRES ABOARD THE GREAT LINERS, 1900-1914; AND "SEAPORT DISCOVERY: EXPLORING OUR WATERS WITH ERIC CARLE." AT THE 19TH CENTURY RECREATED PRINT SHOP BOWNE & CO. STATIONERS, MASTER PRINTERS OFFERED PRINTING DEMONSTRATIONS AND WORKSHOPS FOR 12,014 VISITORS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,701,767
Program Service Revenue $309,230
Investment Income $61,303
Other Revenue $1,399,216
TOTAL REVENUE $6,471,516

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,282,230
Fundraising Expenses $442,629
Program Expenses $3,711,482
Other Expenses $2,023,468
TOTAL EXPENSES $5,305,698

Year-over-Year Comparison

2023 2022 Change
Revenue $6,471,516 $12,195,681 -0.5%
Expenses $5,305,698 $5,135,521 +0.0%
Net Income $1,165,818 $7,060,160 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
84
Volunteers
8

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$273,696
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTIANA HUUS CHAIR 1.00
Officer Director
$0 $0 $0
DAVID SHEEHAN TREASURER 1.00
Officer Director
$0 $0 $0
BEVIN SAVAGE-YAMAZAKI SECRETARY 1.00
Officer Director
$0 $0 $0
CRAIG PAGE BOARD MEMBER 1.00
Director
$0 $0 $0
CATHERINE MCVAY HUGHES BOARD MEMBER 1.00
Director
$0 $0 $0
ERNEST TOLLERSON BOARD MEMBER 1.00
Director
$0 $0 $0
CYRUS GENTRY BOARD MEMBER 1.00
Director
$0 $0 $0
BJJONES BOARD MEMBER 1.00
Director
$0 $0 $0
JONATHAN BOULWARE PRESIDENT & CEO 40.00
Officer
$224,122 $49,574 $273,696
MEG FELLERATH CHIEF OPERATING OFFICER 40.00
Highest
$117,221 $13,677 $130,898
ANNA FRENKEL VICE PRESIDENT OF EXTERNAL 40.00
Highest
$108,797 $20,547 $129,344
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $6,471,516 $5,305,698 $26,894,548 $1,165,818
2022 $12,195,681 $5,135,521 $26,722,225 $7,060,160
2021 $3,990,883 $3,860,623 $25,331,264 $130,260
2020 $4,667,951 $3,630,607 $17,379,264 $1,037,344
2019 $4,532,254 $4,636,823 $15,095,284 $-104,569
2018 $4,223,224 $5,356,985 $14,852,203 $-1,133,761
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