LONG ISLAND MARITIME MUSEUM (EIN 237007442) - Form 990 Financial Analysis & Trantor Score

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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

1966

Legal Domicile

Principal Officer

MICHAEL EAGAN

Phone

6318544974

Tax Period

2023-01-01 to 2023-12-31

LONG ISLAND MARITIME MUSEUM, founded in 1966, is a small nonprofit in the Arts, Culture & Humanities sector that reported $429K in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Net assets of $1.0M represent 28 months of operating reserves.

Mission

THE STATED PURPOSE OF THE MUSEUM SHALL BE:A.TO PRESERVE LONG ISLAND'S MARITIME HISTORY AND HERITAGE FOR EDUCATIONAL PURPOSES.B.TO PURCHASE, COLLECT, RESTORE AND PRESERVE BOATS, VESSELS AND RELATED EQUIPMENT HAVING TO DO WITH THE PAST AND PRESENT MARITIME ACTIVITIES OF LONG ISLAND, INCLUDING BUT NOT LIMITED TO, SHIPBUILDING, WHALING, SHELLFISHING, COMMERCIAL AND SPORTFISHING, WILDFOWLING, PLEASURE AND COMPETITIVE BOATING, WATERCRAFT AND THE ETHNIC HERITAGE PERTAINING THERETO.C.TO RESTORE, PRESERVE, INTERPRET, DISPLAY AND EXHIBIT WATERCRAFT OF HISTORICAL INTEREST, MODELS OF SHIPS AND OF SMALL CRAFT, TOOLS, AND IMPLEMENTS OF THE MARINE CRAFTS AND TRADES, WILDFOWLING DECOYS, PAINTINGS, PRINTS, MAPS, CHARTS AND BOOKS; AND DISPLAYS FEATURING WILDLIFE.

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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 $160,001

Program Service Revenue $113,303

Investment Income $16,719

Other Revenue $139,314

TOTAL REVENUE $429,337

Expense Breakdown

Grants Paid $0

Salaries & Benefits $276,490

Fundraising Expenses $38,907

Program Expenses $371,528

Other Expenses $193,010

TOTAL EXPENSES $469,500

Year-over-Year Comparison

	2023	2022	Change
Revenue	$429,337	$525,399	-0.2%
Expenses	$469,500	$379,597	+0.2%
Net Income	$-40,163	$145,802	-1.3%

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

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

$75,094

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE EAGAN	CHAIRMAN	20.00	Officer Director	$0	$0	$0
ELIZABETH ARINK	FIRST VICE CHAIRMAN	18.00	Officer Director	$0	$0	$0
BRANDT RISING	SECOND VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
MARK DEANGELIS	TRUSTEE	4.00	Director	$0	$0	$0
PHIL LINKER	TRUSTEE	4.00	Director	$0	$0	$0
TIM MATTIMORE	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN MCCARTHY	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTINE MILLER	TRUSTEE	4.00	Director	$0	$0	$0
JOHN WAHLBERG	TREASURER	2.00	Officer Director	$0	$0	$0
TERESA BLITMAN	EXECUTIVE DIRECTOR	40.00	Director	$75,094	$0	$75,094
GRAHAM SCAIFE	TRUSTEE	6.00	Director	$0	$0	$0
LAURA SMITH	TRUSTEE	15.00	Director	$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	No data	No data	No data	No data
2023	$429,337	$469,500	$1,031,520	$-40,163
2022	$525,399	$379,597	$1,018,949	$145,802
2021	$519,425	$332,456	$1,110,174	$186,969
2020	$390,604	$289,372	$881,098	$101,232
2019	$382,631	$395,957	$742,659	$-13,326
2018	$344,373	$383,095	$660,572	$-38,722

LONG ISLAND MARITIME MUSEUM