PALM BEACH MARITIME MUSEUM INC

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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

1974

Legal Domicile

Principal Officer

ANDREW BINNS

Phone

5615405147

Tax Period

2024-07-01 to 2025-06-30

PALM BEACH MARITIME MUSEUM INC, founded in 1974, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.1M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year.

Mission

ENHANCE MARINE SCIENCE, TECHNOLOGY AND HISTORY

Program Service Accomplishments

Program 1

Expenses: $14,637,187 Revenue: $14,637,187

DEVELOPMENT OF CHARTER SCHOOL FOR AN ELEMENTARY, MIDDLE, AND HIGH SCHOOL DEVOTED TO MARINE TECHNOLOGY AND VOCATIONAL PROGRAMS WHICH OPENED IN 2000. THE CHARTER SCHOOL WAS APPROVED BY PALM BEACH...

DEVELOPMENT OF CHARTER SCHOOL FOR AN ELEMENTARY, MIDDLE, AND HIGH SCHOOL DEVOTED TO MARINE TECHNOLOGY AND VOCATIONAL PROGRAMS WHICH OPENED IN 2000. THE CHARTER SCHOOL WAS APPROVED BY PALM BEACH COUNTY SCHOOL BOARD IN 1998.

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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 $0

Program Service Revenue $11,130,732

Investment Income $0

Other Revenue $3,004,173

TOTAL REVENUE $14,134,905

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $14,637,187

Other Expenses $14,746,605

TOTAL EXPENSES $14,746,605

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,134,905	$17,013,310	-0.2%
Expenses	$14,746,605	$16,576,053	-0.1%
Net Income	$-611,700	$437,257	-2.4%

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

214

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
DR ANDY BINNS	CHAIRMAN	2.00	Officer Director	$0	$0	$0
MR DAVID JACKSON	TREASURER	2.00	Officer Director	$0	$0	$0
DR EUNICE CASEY	MEMBER	2.00	Director	$0	$0	$0
DR MELINDA COLEMAN	MEMBER	2.00	Director	$0	$0	$0
STEPHEN CASENZA	CEO	40.00	Key Emp	$0	$0	$0
CHELSEA SMITH	PRINCIPAL	40.00	Key Emp	$0	$0	$0
DIONNE STONE	PRINCIPAL	40.00	Key Emp	$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	$14,134,905	$14,746,605	$18,905,572	$-611,700
2024	$17,013,310	$16,576,053	$19,981,240	$437,257
2023	$13,846,943	$13,822,375	$20,381,117	$24,568
2022	$12,542,003	$12,664,663	$20,865,906	$-122,660
2021	$11,682,494	$10,261,123	$3,090,246	$1,421,371
2020	$9,760,112	$9,676,576	$2,908,451	$83,536
2019	$9,242,094	$9,636,263	$1,754,860	$-394,169
2018	$14,338,328	$9,697,877	$1,501,915	$4,640,451