THE FRIENDS OF THE NORTH CAROLINA MARITIME MUSEUM AT SOUTHPORT

EIN: 561699793 501(c)(3) Arts, Culture & Humanities

SOUTHPORT, NC

Total Revenue
$335,105
Total Expenses
$65,955
Total Assets
$1,163,280
Net Assets
$1,161,817
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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
2008
Legal Domicile
NC
Principal Officer
TOM HALE
Phone
9104579455
Tax Period
2024-01-01 to 2024-12-31

THE FRIENDS OF THE NORTH CAROLINA MARITIME MUSEUM AT SOUTHPORT, founded in 2008, is a small nonprofit in the Arts, Culture & Humanities sector that reported $335K in total revenue in fiscal year 2024. Revenue surged 125% from the prior year, signaling strong growth momentum. The organization ran a surplus of $269K, a strong 80% operating margin.

Mission

THE PRIMARY MISSION OF THE ORGANIZATION IS TO PROVIDE SUPPORT FOR THE NORTH CAROLINA MARITIME MUSEUM AT SOUTHPORT, A STATE OWNED AND OPERATED MARITIME MUSEUM. THE FRIENDS ORGANIZATION PROVIDES RESOURCES TO HOUSE THE MUSEUM AND TO FUND EDUCATIONAL PROGRAMS AND EXHIBITS FOR VISTORS.

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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 $288,821
Program Service Revenue $903
Investment Income $7,332
Other Revenue $38,049
TOTAL REVENUE $335,105

Expense Breakdown

Grants Paid $0
Salaries & Benefits $21,151
Fundraising Expenses $12,690
Program Expenses $45,266
Other Expenses $44,804
TOTAL EXPENSES $65,955

Year-over-Year Comparison

2024 2023 Change
Revenue $335,105 $148,607 +1.3%
Expenses $65,955 $124,537 -0.5%
Net Income $269,150 $24,070 +10.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
14
Employees
1
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
4
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
IRA WAYNE BERRY TREASURER N/A
Officer Director
$0 $0 $0
MARY CARNEIRO DIRECTOR N/A
Director
$0 $0 $0
KIM COBB DIRECTOR N/A
Director
$0 $0 $0
JACK COLLINS DIRECTOR N/A
Director
$0 $0 $0
TOM HALE PRESIDENT N/A
Officer Director
$0 $0 $0
BILL HOWELL DIRECTOR N/A
Director
$0 $0 $0
DONNIE JOYNER SECRETARY N/A
Officer Director
$0 $0 $0
KEVIN LOCKLIN VICE-PRESIDE N/A
Officer Director
$0 $0 $0
MARY LOCKLIN DIRECTOR N/A
Director
$0 $0 $0
CLAIRE MCNAUGHT DIRECTOR N/A
Director
$0 $0 $0
TAMMY NEWTON DIRECTOR N/A
Director
$0 $0 $0
ROYCE POTTER DIRECTOR N/A
Director
$0 $0 $0
LORA SHARKEY DIRECTOR N/A
Director
$0 $0 $0
B WAYNE STRICKLAND DIRECTOR N/A
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
2025 No data No data No data No data
2024 $335,105 $65,955 $1,163,280 $269,150
2023 $148,607 $124,537 $893,925 $24,070
2022 $91,566 $74,496 $870,219 $17,070
2021 $164,255 $73,876 $853,698 $90,379
2020 $52,366 $63,383 $803,360 $-11,017
2019 $205,151 $150,573 $770,360 $54,578
2018 $101,232 $68,530 $705,220 $32,702
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