RICHARDSON MARITIME MUSEUM INCORPO… - 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

1992

Legal Domicile

Principal Officer

MARTIN HARDY

Phone

4102211871

Tax Period

2024-01-01 to 2024-12-31

RICHARDSON MARITIME MUSEUM INCORPORATED, founded in 1992, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $76K in total revenue in fiscal year 2024. Expenses of $67K left a modest 13% surplus.

Mission

THE ORGANIZATION IS DEDICATED TO PRESERVING AND PROMOTING THE WOODEN BOATBUILDING HERITAGE OF MARYLAND'S EASTERN SHORE WITH A MUSEUM AND A WOODEN BOATBUILDING CENTER.

Program Service Accomplishments

Program 1

Expenses: $56,314 Revenue: $12,422

TO PRESERVE AND PROMOTE THE BOATBUILDING HERITAGE OF DORCHESTER COUNTY MARYLAND AND THE CHESAPEAKE BAY AREA THROUGH RESEARCH, PRESERVATION,EXHIBITION OF ARTIFACTS AND ARCHIVES, AND AN EDUCATION...

TO PRESERVE AND PROMOTE THE BOATBUILDING HERITAGE OF DORCHESTER COUNTY MARYLAND AND THE CHESAPEAKE BAY AREA THROUGH RESEARCH, PRESERVATION,EXHIBITION OF ARTIFACTS AND ARCHIVES, AND AN EDUCATION FACILITY FOR THE MARINE TRADES.

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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 $31,936

Program Service Revenue $12,422

Investment Income $0

Other Revenue $32,120

TOTAL REVENUE $76,478

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $56,314

Other Expenses $66,512

TOTAL EXPENSES $66,512

Year-over-Year Comparison

	2024	2023	Change
Revenue	$76,478	$-140,822	-1.5%
Expenses	$66,512	$191,849	-0.7%
Net Income	$9,966	$-332,671	-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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES D BRIGHTON	VICE CHAIRMA	3.00	Officer Director	$0	$0	$0
ADDIE ECKART	DIRECTOR	3.00	Director	$0	$0	$0
MARTIN HARDY	CHAIRMAN	3.00	Officer Director	$0	$0	$0
WOODALL LABAT	DIRECTOR	3.00	Director	$0	$0	$0
MATT LEONARD	DIRECTOR	3.00	Director	$0	$0	$0
ED ROBBINS	TREASURER	3.00	Officer Director	$0	$0	$0
DEBORAH USAB	SECRETARY	3.00	Officer Director	$0	$0	$0
DAVID WILLIAMS	DIRECTOR	3.00	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	$76,478	$66,512	$488,518	$9,966
2023	$-140,822	$191,849	$487,452	$-332,671
2022	$64,183	$164,895	$1,183,234	$-100,712
2021	$193,843	$122,861	$1,299,389	$70,982
2020	$109,009	$150,402	$1,154,009	$-41,393
2019	$208,156	$228,883	$1,203,797	$-20,727
2018	$142,180	$172,949	$1,334,791	$-30,769

RICHARDSON MARITIME MUSEUM INCORPORATED