Sail Power and Steam Museum

EIN: 261473502 501(c)(3) Education

Rockland, ME

Total Revenue
$704,267
Total Expenses
$704,048
Total Assets
$3,021,446
Net Assets
$2,729,061
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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
ME
Phone
2075960200
Tax Period
2024-01-01 to 2024-12-31

Sail Power and Steam Museum, founded in 2007, is a small nonprofit in the Education sector that reported $704K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Net assets of $2.7M represent 47 months of operating reserves.

Mission

Mission: To celebrate, honor, experience, and share the story of Maine's maritime heritage.Vision: Maine's maritime heritage helped shape our nation and it will continue to influence our future. 1. We collect, restore,and exhibit historically significant maritime artifacts to share the evolving story of Rockland, the Midcoast, and Maine's maritime heritage. 2. Offer programs that help tell the story of our maritime heritage ranging from volunteer-run boat restorations to museum exhibits to in-person and multi-media speaker series.3. Offer experiential, on-water and in classroom, programs in sailing, navigation, and boat handling through the our MidCoast Sailing Center (MCSC). Programs utilize both contemporary and historically significant vessels. 4. Offer Free Youth Sailing programs (SKFF - Sail Kids For Free) to ensure that cost is never a barrier to area youth in learning the art and science of sail. These programs help to develop a sense of independence, develop skills in teamwork,

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $142,651
Program Service Revenue $267,367
Investment Income $39,135
Other Revenue $255,114
TOTAL REVENUE $704,267

Expense Breakdown

Grants Paid $0
Salaries & Benefits $314,359
Fundraising Expenses $26,032
Program Expenses $494,125
Other Expenses $389,689
TOTAL EXPENSES $704,048

Year-over-Year Comparison

2024 2023 Change
Revenue $704,267 $581,618 +0.2%
Expenses $704,048 $546,391 +0.3%
Net Income $219 $35,227 -1.0%
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

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Governance

Voting Members
12
Independent Members
12
Employees
13
Volunteers
20

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
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Diane R McIntosh Executive Director 40.00
$67,500 $0 $67,500
James Sharp Chairman 10.00
Officer Director
$0 $0 $0
Richard Crossman Vice Chairman 0.00
Officer Director
$0 $0 $0
Kevin Bedford Secretary 0.00
Officer Director
$0 $0 $0
Peter Orne Treasurer 0.00
Officer Director
$0 $0 $0
Ken Barnes Director 0.00
Director
$0 $0 $0
Jim Bowditch Director 0.00
Director
$0 $0 $0
David Doub Director 0.00
Director
$0 $0 $0
Clyde Holmes III Director 0.00
Director
$0 $0 $0
James Genco Director 0.00
Director
$0 $0 $0
George Orestis Director 0.00
Director
$0 $0 $0
Meg Sharp Director 5.00
Director
$0 $0 $0
Robert Williams Director 0.00
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 $704,267 $704,048 $3,021,446 $219
2023 $581,618 $546,391 $3,043,274 $35,227
2022 $1,646,836 $467,054 $2,960,788 $1,179,782
2021 $389,279 $211,573 $1,955,522 $177,706
2021 $239,279 $211,573 $1,805,522 $27,706
2020 $714,533 $134,018 $1,629,914 $580,515
2019 $193,807 $126,085 $1,001,176 $67,722
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