HERRESHOFF MARINE MUSEUM (EIN 237102744) - 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

1971

Legal Domicile

Principal Officer

WILLIAM LYNN

Phone

4012535000

Tax Period

2023-01-01 to 2023-12-31

HERRESHOFF MARINE MUSEUM, founded in 1971, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2023. Expenses of $1.6M left a modest 5% surplus.

Mission

INTERPRET THE HISTORY & ACCOMPLISHMENTS OF THE HERRESHOFF MANUFACTURING CO. & AMERICA'S CUP.

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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 $1,108,752

Program Service Revenue $514,036

Investment Income $12,121

Other Revenue $5,404

TOTAL REVENUE $1,640,313

Expense Breakdown

Grants Paid $0

Salaries & Benefits $772,391

Fundraising Expenses $278,858

Program Expenses $946,427

Other Expenses $781,525

TOTAL EXPENSES $1,553,916

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,640,313	$1,623,876	+0.0%
Expenses	$1,553,916	$1,565,625	0.0%
Net Income	$86,397	$58,251	+0.5%

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

$178,836

Total Directors

$178,836

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT AYERLE	DIRECTOR	1.00	Director	$0	$0	$0
NEVIN CARR	CHAIR - NOMINATING & GOVER	1.00	Officer Director	$0	$0	$0
THOMAS CULORA	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FORD	CHAIRMAN EMERITUS	3.00	Officer Director	$0	$0	$0
HALSEY C HERRESHOFF	DIRECTOR	1.00	Director	$0	$0	$0
HALSEY C HERRESHOFF II	DIRECTOR	1.00	Director	$0	$0	$0
GEOFFREY HOPPER	DIRECTOR	3.00	Director	$0	$0	$0
LAWRENCE D LAVERS	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM H LYNN	PRESIDENT AND EXECUTIVE DI	40.00	Officer Director	$167,895	$10,941	$178,836
JOHN JAY PICOTTE	CHAIR - COLLECTIONS	1.00	Officer Director	$0	$0	$0
ALISON PONDER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ROBERT D YARO	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAUL BURMEISTER	TREASURER	1.00	Officer Director	$0	$0	$0
STEVE KLOEBLEN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC HALL	DIRECTOR	1.00	Director	$0	$0	$0
GINA MACDONALD	CHAIR - PLANNING	1.00	Director	$0	$0	$0
DAVID COIT	DIRECTOR	3.00	Director	$0	$0	$0
DANA COSTE	DIRECTOR	1.00	Director	$0	$0	$0
PETER GERARD	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT BOB GIRRIER	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY L PALMER	DIRECTOR	1.00	Director	$0	$0	$0
MEGHAN STASZ	DIRECTOR	1.00	Director	$0	$0	$0
JIM SHRINER	DIRECTOR	1.00	Director	$0	$0	$0
ELISABETH LAVERS	EX OFFICIO, SECRETARY	1.00	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	No data	No data	No data	No data
2023	$1,640,313	$1,553,916	$4,923,954	$86,397
2022	$1,623,876	$1,565,625	$4,774,200	$58,251
2021	$1,431,291	$1,486,219	$4,895,533	$-54,928
2020	$1,863,206	$1,430,800	$5,115,770	$432,406
2019	$1,942,424	$1,508,620	$5,181,114	$433,804
2018	$1,540,543	$1,463,352	$4,649,011	$77,191

HERRESHOFF MARINE MUSEUM