LAKE CHAMPLAIN MARITIME MUSEUM HAR… - Form 990 Financial Data

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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

1985

Legal Domicile

Principal Officer

CHRISTOPHER SABICK

Phone

8024752022

Tax Period

2023-01-01 to 2023-12-31

LAKE CHAMPLAIN MARITIME MUSEUM HARBOR INC, founded in 1985, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2023. Expenses of $2.0M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PRESERVE AND SHARE THE CULTURAL AND NATURAL HERITAGE OF THE LAKE CHAMPLAIN REGION BY CONNECTING ALL PEOPLE WITH THE LAKE, INSPIRING THEM TO LEARN FROM THE PAST, BUILD TOGETHER IN THE PRESENT, AND CREATE A SUSTAINABLE FUTURE.

Program Service Accomplishments

Program 1

Expenses: $207,831 Revenue: $30,192

GENERAL OPERATION OF THE MUSEUM INCLUDING COURSES, GENERAL EDUCATION PROGRAMS, VIRTUAL EDUCATION PROGRAMS, DIGITAL EDUCATION THROUGH SOCIAL MEDIA AND THE MUSEUM'S WEBSITE, RESEARCH, AND CHILDREN'S...

GENERAL OPERATION OF THE MUSEUM INCLUDING COURSES, GENERAL EDUCATION PROGRAMS, VIRTUAL EDUCATION PROGRAMS, DIGITAL EDUCATION THROUGH SOCIAL MEDIA AND THE MUSEUM'S WEBSITE, RESEARCH, AND CHILDREN'S PROGRAMMING. FOR THE 2023 SEASON, OVER 10,000 PEOPLE VISITED THE MUSEUM IN-PERSON AND FREE OF CHARGE WHILE THOUSANDS OF OTHERS EXPLORED LCMM'S DIGITAL PROGRAMMING.

Program 2

Expenses: $736,264 Revenue: $112,278

VARIOUS EDUCATIONAL PROGRAMS INCLUDING CHAMPLAIN DISCOVERY & LONGBOATS THAT TEACH BOAT BUILDING, NAVIGATION, HISTORY AND ECOLOGY TO HIGH SCHOOL STUDENTS. OTHER EDUCATIONAL PROGRAMS INCLUDE VARIOUS...

VARIOUS EDUCATIONAL PROGRAMS INCLUDING CHAMPLAIN DISCOVERY & LONGBOATS THAT TEACH BOAT BUILDING, NAVIGATION, HISTORY AND ECOLOGY TO HIGH SCHOOL STUDENTS. OTHER EDUCATIONAL PROGRAMS INCLUDE VARIOUS NAUTICAL-RELATED COURSES, SCHOOL OUTREACH PROGRAMS, AND SUMMER CAMPS.

Program 3

Expenses: $299,345 Revenue: $224,455

VARIOUS ARCHAEOLOGY PROJECTS, INCLUDING RESEARCHING, DOCUMENTING, PROTECTING, AND MAKING ACCESSIBLE LAKE CHAMPLAIN'S UNDERWATER CULTURAL RESOURCES. THIS WORK MAKES POSSIBLE THE CONSERVATION AND...

VARIOUS ARCHAEOLOGY PROJECTS, INCLUDING RESEARCHING, DOCUMENTING, PROTECTING, AND MAKING ACCESSIBLE LAKE CHAMPLAIN'S UNDERWATER CULTURAL RESOURCES. THIS WORK MAKES POSSIBLE THE CONSERVATION AND PRESENTATION OF OVER 300 SHIPWRECKS IN THE LAKE AND 10,000 OBJECTS AND ARCHIVES IN THE MUSEUM'S COLLECTION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,479,149

Program Service Revenue $358,912

Investment Income $-109,963

Other Revenue $18,588

TOTAL REVENUE $1,746,686

Expense Breakdown

Grants Paid $0

Salaries & Benefits $996,217

Fundraising Expenses $151,291

Program Expenses $1,243,440

Other Expenses $963,288

TOTAL EXPENSES $1,959,505

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,746,686	$1,625,926	+0.1%
Expenses	$1,959,505	$1,706,869	+0.1%
Net Income	$-212,819	$-80,943	+1.6%

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

Volunteers

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

$183,490

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT HARDY	CHAIR	2.00	Officer Director	$0	$0	$0
ED MCGUIRE	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
FRANK KOSTER	TREASURER	2.00	Officer Director	$0	$0	$0
TIM HODSON	SECRETARY	2.00	Officer Director	$0	$0	$0
ROBERT H BEACH JR	DIRECTOR	1.00	Director	$0	$0	$0
HARRY CHAUCER	DIRECTOR / INSTRUCTOR	1.00	Director	$0	$0	$0
WILLIAM FOX	DIRECTOR	1.00	Director	$0	$0	$0
AMY JOHNSTON	DIRECTOR	1.00	Director	$0	$0	$0
DYER JONES	DIRECTOR	1.00	Director	$0	$0	$0
HANNAH LANGSDALE	DIRECTOR	1.00	Director	$0	$0	$0
WENDY LYNCH	DIRECTOR	1.00	Director	$0	$0	$0
ADAM POWERS	DIRECTOR	1.00	Director	$0	$0	$0
STACY RAPHAEL	DIRECTOR	1.00	Director	$0	$0	$0
MIGUEL FERNANDEZ	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE PARKER	DIRECTOR	1.00	Director	$0	$0	$0
CHIEF DON STEVENS	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN MCCLURE	EXECUTIVE DIRECTOR (TERM 04/23)	40.00	Officer	$33,939	$0	$33,939
LAUREN ROSS	INTERIM CO-EXEC. DIR. (05/23 -11/23)	40.00	Officer	$72,332	$0	$72,332
CHRISTOPHER SABICK	EXECUTIVE DIRECTOR (START 05/23)	40.00	Officer	$77,219	$0	$77,219

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	$1,746,686	$1,959,505	$5,213,745	$-212,819
2022	$1,625,926	$1,706,869	$5,186,790	$-80,943
2022	$1,625,926	$1,706,869	$5,186,790	$-80,943
2021	$3,154,369	$1,662,727	$5,854,954	$1,491,642
2020	$1,444,086	$1,397,725	$5,415,100	$46,361
2019	$1,439,510	$1,534,191	$5,080,278	$-94,681
2018	$1,381,505	$1,598,255	$5,152,484	$-216,750

LAKE CHAMPLAIN MARITIME MUSEUM HARBOR INC