HYDROPLANE AND RACEBOAT 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

1983

Phone

2067649453

Tax Period

2023-01-01 to 2023-12-31

HYDROPLANE AND RACEBOAT MUSEUM, founded in 1983, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2023. Revenue surged 91% from the prior year, signaling strong growth momentum. The organization ran a surplus of $482K, a strong 47% operating margin.

Mission

PRESERVATION OF THE HISTORY OF BOAT RACING AND THE EDUCATION OF THE PUBLIC.

Program Service Accomplishments

Program 1

Expenses: $424,161

MAINTENANCE OF MUSEUM FACILITY TO PRESERVE AND HOUSE HISTORICAL ITEMS FOR THE PUBLIC TO ENJOY.

Program 2

Expenses: $22,324

FUNDING OF A YOUTH PROGRAM WHERE TEENAGERS AND ADULTS PARTICIPATE IN REBUILDING VINTAGE HYDROPLANES. APPROXIMATELY 13 TEENS AND 27 ADULTS PARTICIPATED.

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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 $784,672

Program Service Revenue $223,998

Investment Income $4

Other Revenue $17,711

TOTAL REVENUE $1,026,385

Expense Breakdown

Grants Paid $0

Salaries & Benefits $157,225

Fundraising Expenses $65,340

Program Expenses $446,485

Other Expenses $387,269

TOTAL EXPENSES $544,494

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,026,385	$538,775	+0.9%
Expenses	$544,494	$515,024	+0.1%
Net Income	$481,891	$23,751	+19.3%

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

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
DAVID WILLIAMS	EXECUTIVE DIRECTOR	40.00		$66,000	$0	$66,000
BRAD HASKIN	Director	1.00	Director	$0	$0	$0
DR KENNETH MUSCATEL	Director	1.00	Director	$0	$0	$0
DON MOCK	Vice President	1.00	Director	$0	$0	$0
PATRICK GLEASON	Director	1.00	Director	$0	$0	$0
GARY HANSEN	President	1.00	Director	$0	$0	$0
KATHY MCLEMORE	Director	1.00	Director	$0	$0	$0
JOHN MACDONALD	Director	1.00	Director	$0	$0	$0
JIM SIMMONS	Director	1.00	Director	$0	$0	$0
BOB SENIOR	Director	1.00	Director	$0	$0	$0
IKE KIELGASS	Director	1.00	Director	$0	$0	$0
RICK LENTZ	Secretary	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	$1,026,385	$544,494	$3,216,171	$481,891
2022	$538,775	$515,024	$2,760,598	$23,751
2021	$890,196	$457,417	$2,744,296	$432,779
2020	$1,676,405	$395,177	$2,227,467	$1,281,228
2019	$502,158	$470,147	$722,710	$32,011
2018	$575,676	$506,977	$708,751	$68,699