MARITIME & SEAFOOD INDUSTRY MUSEUM

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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

1982

Legal Domicile

Principal Officer

ROBIN KROHN DAVID

Phone

2284356320

Tax Period

2023-10-01 to 2024-09-30

MARITIME & SEAFOOD INDUSTRY MUSEUM, founded in 1982, is a small nonprofit in the Arts, Culture & Humanities sector that reported $607K in total revenue in fiscal year 2023. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $833K exceeded revenue, resulting in a 37% operating deficit.

Mission

TO PRESERVE AND INTERPRET THE MARITIME HISTORY AND HERITAGE OF BILOXI AND THE MISSISSIPPI GULF COAST.

Program Service Accomplishments

Program 1

Expenses: $405,245 Revenue: $110,047

MUSEUM BENEFITS THE COMMUNITY BY PRESERVING THE HERITAGE OF THE MARITIME AND SEAFOOD INDUSTRY ON THE MISSISSIPPI GULF COAST.

Program 2

Expenses: $281,567 Revenue: $92,772

SCHOONERS OFFER EDUCATIONAL TOURS AND CHARTERS ARE AVAILABLE TO THE PUBLIC.

Program 3

Expenses: $65,019 Revenue: $102,171

SEA-N-SAIL CAMP OFFERS LOCAL CHILDREN AND VISITORS A CHANCE TO LEARN ABOUT THE MARITIME INDUSTRY THROUGH A WEEK-LONG CAMP DURING THE SUMMER.

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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 $418,559

Program Service Revenue $304,990

Investment Income $300

Other Revenue $-117,215

TOTAL REVENUE $606,634

Expense Breakdown

Grants Paid $0

Salaries & Benefits $323,124

Fundraising Expenses $0

Program Expenses $751,831

Other Expenses $509,515

TOTAL EXPENSES $832,639

Year-over-Year Comparison

	2023	2022	Change
Revenue	$606,634	$2,437,783	-0.8%
Expenses	$832,639	$739,247	+0.1%
Net Income	$-226,005	$1,698,536	-1.1%

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

Total Directors

$111,867

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBIN KROHN DAVID	EXECUTIVE DIRECTOR	40.00	Director	$111,867	$0	$111,867
KYLE TOOTLE	BOARD MEMBER	0.00	Director	$0	$0	$0
KIM ROSS BUSH	BOARD MEMBER	0.00	Director	$0	$0	$0
JEFFERY ELLIS	BOARD MEMBER	0.00	Director	$0	$0	$0
ANDY FOUNTAIN	BOARD MEMBER	0.00	Director	$0	$0	$0
DALE GOLLOTT	PRESIDENT	0.00	Officer Director	$0	$0	$0
SUSIE SEYMOUR	VICE PRESIDENT	0.00	Officer Director	$0	$0	$0
JOHNNY ATHERTON	BOARD MEMBER	0.00	Director	$0	$0	$0
JAN ROSS	BOARD MEMBER	0.00	Director	$0	$0	$0
LEAH WELTER	SECRETARY/TREASURER	0.00	Officer 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	$606,634	$832,639	$6,886,867	$-226,005
2023	$2,437,783	$739,247	$7,513,251	$1,698,536
2022	$882,340	$661,799	$5,434,688	$220,541
2021	$442,007	$687,344	$4,838,417	$-245,337
2020	$662,392	$662,220	$5,129,154	$172
2019	$656,752	$724,500	$5,142,867	$-67,748
2018	$649,917	$740,560	$5,160,049	$-90,643