MISSISSIPPI MARITIME MUSEUM INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

JACK NAIL II

Phone

6789796023

Tax Period

2024-01-01 to 2024-12-31

MISSISSIPPI MARITIME MUSEUM INC, founded in 2007, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $16K in total revenue in fiscal year 2024. Revenue fell 79% from the prior year — a significant decline worth monitoring. Expenses of $49K exceeded revenue, resulting in a 206% operating deficit.

Mission

THE MARITIME MUSEUM WILL TELL THE STORY OF THE STATE'S 300 YEAR MARITIME HISTORY AND WILL SERVE AS A REPOSITORY TO ARCHIVE, PRESERVE, AND DISPLAY MARITIME ARTIFACTS AND HISTORICAL DOCUMENTS AS WELL AS PROVIDE EXTENSIVE EDUCATIONAL PROGRAMS FOR K-12 SCHOOL CHILDREN.

Program Service Accomplishments

Program 1

Expenses: $33,244

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,928

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $15,928

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $1,730

Program Expenses $42,636

Other Expenses $48,723

TOTAL EXPENSES $48,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,928	$77,662	-0.8%
Expenses	$48,723	$137,110	-0.6%
Net Income	$-32,795	$-59,448	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORREN WEST	PRESIDENT/TR	5.50	Officer Director	$0	$0	$0
BETTY CARTER	SECRETARY	2.50	Officer Director	$0	$0	$0
PATTI BROOKS	DIRECTOR	0.25	Director	$0	$0	$0
ADAM ASKEW	DIRECTOR	0.25	Director	$0	$0	$0
STEVE NAIL	DIRECTOR	0.25	Director	$0	$0	$0
JERI HEIDEL	DIRECTOR	0.25	Director	$0	$0	$0
JACK NAIL II	VICE BOARD C	0.25	Officer	$0	$0	$0

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	$15,928	$48,723	$1,166,975	$-32,795
2023	$77,662	$137,110	$1,199,770	$-59,448
2022	$100,652	$282,032	$1,257,972	$-181,380
2021	$47,145	$224,236	$1,453,409	$-177,091
2020	$179,295	$111,597	$1,639,337	$67,698
2019	$743,522	$67,587	$1,579,848	$675,935
2019	$743,522	$67,587	$1,579,848	$675,935
2018	$161,244	$98,696	$909,048	$62,548