THE WATERMEN'S MUSEUM (EIN 541376477) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

PENELOPE PAYNE

Phone

7578872641

Tax Period

2023-01-01 to 2023-12-31

THE WATERMEN'S MUSEUM, founded in 1986, is a small nonprofit in the Arts, Culture & Humanities sector that reported $161K in total revenue in fiscal year 2018. Expenses of $191K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO PRESERVE AND PROMOTE THE ROLE THAT THE CHESAPEAKE BAY WATERMEN PLAYED IN THE SHAPING OF OUR NATION THROUGH A HISTORICAL DISPLAY OF CRAFTS AND METHODS OF THEIR TRADE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $78,008

Program Service Revenue $45,912

Investment Income $55

Other Revenue $15,771

TOTAL REVENUE $139,746

Expense Breakdown

Grants Paid $0

Salaries & Benefits $82,498

Fundraising Expenses $932

Program Expenses $182,680

Other Expenses $112,245

TOTAL EXPENSES $194,743

Year-over-Year Comparison

	2023	2022	Change
Revenue	$139,746	$127,978	+0.1%
Expenses	$194,743	$206,433	-0.1%
Net Income	$-54,997	$-78,455	-0.3%

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

100

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
STEVEN ORMSBY	PRESIDENT	1.00	Officer Director	$0	$0	$0
CAROL TRYER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PENELOPE PAYNE	TREASURER	1.00	Officer Director	$0	$0	$0
CYNTHIA SPEEGLE	SECRETARY	1.00	Officer Director	$0	$0	$0
KENNETH BARNHART	DIRECTOR	1.00	Director	$0	$0	$0
GRAY BOWDITCH	DIRECTOR	1.00	Director	$0	$0	$0
JUDITH MCDOWELL	DIRECTOR	1.00	Director	$0	$0	$0
JILL PRYOR	DIRECTOR	1.00	Director	$0	$0	$0
HAMILTON WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
PETE BUSE	DIRECTOR	1.00	Director	$0	$0	$0
RYAN JOHNSTON	DIRECTOR	1.00	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	$139,746	$194,743	$826,452	$-54,997
2022	$127,978	$206,433	$902,729	$-78,455
2021	$196,977	$205,268	$941,478	$-8,291
2020	$247,062	$174,728	$976,612	$72,334
2018	$161,398	$191,278	$999,504	$-29,880

THE WATERMEN'S MUSEUM