MUSEUM OF THE MARINE CAROLINA MUSEUM OF THE MARINE (EIN 562186718) - 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

1999

Legal Domicile

Principal Officer

SAMUEL PAT ALFORD

Phone

9109370033

Tax Period

2023-07-01 to 2024-06-30

MUSEUM OF THE MARINE CAROLINA MUSEUM OF THE MARINE, founded in 1999, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.7M in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.2M, a strong 83% operating margin.

Mission

CAROLINA MUSEUM OF THE MARINE IS BUILDING A 25,000 SQUARE FOOT FACILITY HONORING THE LEGACY OF CAROLINA MARINES AND SAILORS AND TO INSPIRE FUTURE GENERATIONS.

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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 $1,664,383

Program Service Revenue $0

Investment Income $1,001,702

Other Revenue $0

TOTAL REVENUE $2,666,085

Expense Breakdown

Grants Paid $0

Salaries & Benefits $273,230

Fundraising Expenses $91,185

Program Expenses $309,442

Other Expenses $189,832

TOTAL EXPENSES $463,062

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,666,085	$14,269,868	-0.8%
Expenses	$463,062	$729,850	-0.4%
Net Income	$2,203,023	$13,540,018	-0.8%

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

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

$470,246

Total Directors

$197,625

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAPT RET PAT ALFORD	BOARD MEMBER, TREASURER	20.00	Officer Director	$0	$0	$0
COL RET JOE ATKINS	BOARD MEMBER	20.00	Director	$0	$0	$0
COL RET BILL AYERS	BOARD MEMBER-EMERITUS	5.00	Director	$0	$0	$0
MIKE BOGDAHN	BOARD MEMBER	5.00	Director	$0	$0	$0
KEITH BYRD	BOARD MEMBER	5.00	Director	$0	$0	$0
MARK CRAMER	BOARD MEMBER, SECRETARY	20.00	Officer Director	$0	$0	$0
MGYSGT RET OSCEOLA ELLISS	BOARD MEMBER	1.00	Director	$0	$0	$0
LTGEN RET MARK FAULKNER	BOARD MEMBER, CHAIR	20.00	Officer Director	$0	$0	$0
COL RET CHARLES GEIGER	BOARD MEMBER	3.00	Director	$0	$0	$0
COL RET BRUCE GOMBAR	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK GUIDARA	BOARD MEMBER	5.00	Director	$0	$0	$0
MAJGEN RET JIM KESSLER	BOARD MEMBER	20.00	Director	$0	$0	$0
LTCOL RET LYNN KIMBALL	BOARD MEMBER	10.00	Director	$0	$0	$0
COL RET BOB LOVE	BOARD MEMBER, VICE CHAIR	20.00	Officer Director	$0	$0	$0
CWO4 RET RICHARD MCINTOSH	BOARD MEMBER	1.00	Director	$0	$0	$0
LTGEN RET GARY MCKISSOCK	BOARD MEMBER	20.00	Director	$0	$0	$0
BOB SANDER	BOARD MEMBER	5.00	Director	$0	$0	$0
COL RET JOHN SOLLIS	BOARD MEMBER	1.00	Director	$0	$0	$0
COL RET GRANT SPARKS	BOARD MEMBER	20.00	Director	$0	$0	$0
GYSGT RET FOREST SPENCER	BOARD MEMBER	1.00	Director	$0	$0	$0
BGEN RET KEVIN STEWART	BOARD MEMBER-EX OFFICIO	40.00	Officer Director	$197,625	$0	$197,625
ASHLEY DANIELSON	VP OF DEVELOPMENT	40.00	Officer	$140,671	$0	$140,671
SGTMAJ RET JOSEPH HOULE	DIRECTOR OF OPERATIONS	40.00	Officer	$59,231	$0	$59,231
RICHARD KOECKERT	FINANCE MANAGER	40.00	Officer	$21,500	$0	$21,500
LISA POTTS	CURATOR	40.00	Officer	$51,219	$0	$51,219

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	$2,666,085	$463,062	$32,896,693	$2,203,023
2023	$14,269,868	$729,850	$27,532,928	$13,540,018
2022	$613,666	$382,155	$16,197,023	$231,511
2022	$13,811,485	$390,363	$13,558,673	$13,421,122
2021	$271,520	$285,175	$3,046,023	$-13,655
2020	$236,543	$277,668	$3,023,778	$-41,125

MUSEUM OF THE MARINE CAROLINA MUSEUM OF THE MARINE