THE NATIONAL LIBERTY SHIP MEMORIAL… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

KEN WRIGHT

Phone

4156786088

Tax Period

2024-01-01 to 2024-12-31

THE NATIONAL LIBERTY SHIP MEMORIAL INC, founded in 1977, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $1.5M exceeded revenue, resulting in a 18% operating deficit.

Mission

THE MISSION OF THE NATIONAL LIBERTY SHIP MEMORIAL IS TO RESTORE, PROMOTE AND OPERATE THE LIBERTY SHIP, SS JEREMIAH OBRIEN, AS A LIVING MUSEUM. THE GOAL OF THIS MISSION IS TO PRESERVE, FOR PRESENT AND FUTURE GENERATIONS, THE STORY OF THE PATRIOTIC AND BRAVE MEN AND WOMEN WHO BUILT, SAILED AND DEFENDED THE 2,710 AMERICAN-BUILT WORLD WAR II SHIPS KNOWN AS LIBERTIES.

Program Service Accomplishments

Program 1

Expenses: $847,078

THE NLSM IS A FULLY FUNCTIONAL WORLD WAR II LIBERTY SHIP, THE SS JEREMIAH O'BRIEN, DOCKED IN SAN FRANCISCO BAY. THE TOURS AND DISPLAYS ARE DESIGNED TO PROMOTE AND INCREASE PUBLIC AWARENESS OF LIBERTY SHIPS, THE MERCHANT MARINE, THE HOMEFRONT EFFORT, AND THE US MARITIME HISTORY. THE CRUISES ARE A RICH LIVING HISTORY LESSONS IN HOW THESE SHIPS WERE BUILT, SAILED, AND CONTINUE TO OPERATE. THE PRIMARY FOCUS OF THE SHIP'S PROGRAM IS THE EDUCATION OF THE YOUTH ABOUT WORLD WAR II, PARTICULARLY THE CIVILIAN SHIPBUILDING EFFORT, THE BATTLE OF THE ATLANTIC, D-DAY, ETC. THE NLSM OFFERS A HIGH SCHOOL INTERNSHIP AND AN ONLINE HISTORY COURSE AS WELL AS AN OVERNIGHT STAY ABOARD WITH AN EDUCATIONAL PROGRAM AND SPECIAL TOUR IF THE SHIP. THE PURPOSE OF THE NATIONAL LIBERTY SHP MEMORIAL IS TO PRESERVE, PROTECT, AND PRESENT THE LIBERTY SHIP, SS JEREMIAH O'BRIEN, AS A LIVING MEMORIAL TO THE MEN AND WOMEN WHO BUILT, SAILED, AND DEFENDED THE SHIPS KNOWN AS LIBERTY SHIPS. ADDITONALLY, THE CHIP CONTINUES TO SERVER HER COUNTRY EACH YEAR AS A TRAINING PLATFORM FOR SEVERAL FEDERAL, STATE, AND LOCAL AGENCIES; INCLUDING HOMELAND SECURITY, THE US COAST GUARD, US NAVY, US ARMY, ALCOHOL FIREMARMS AND TOBACCO, AND SHERIFF AND POLICE DEPARTMENTS.

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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 $589,068

Program Service Revenue $636,053

Investment Income $31

Other Revenue $51,033

TOTAL REVENUE $1,276,185

Expense Breakdown

Grants Paid $0

Salaries & Benefits $437,970

Fundraising Expenses $26,446

Program Expenses $847,078

Other Expenses $1,064,655

TOTAL EXPENSES $1,502,625

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,276,185	$1,357,545	-0.1%
Expenses	$1,502,625	$2,138,086	-0.3%
Net Income	$-226,440	$-780,541	-0.7%

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

$80,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN WRIGHT	EXECUTIVE DI	40.00	Officer	$80,000	$0	$80,000
ROSS DYKES	DIRECTOR	2.00	Director	$0	$0	$0
JON EATON	DIRECTOR	6.00	Director	$0	$0	$0
BRIAN GOLDMAN	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT JARVIS	DIRECTOR	2.00	Director	$0	$0	$0
LYNN KORWATCH	DIRECTOR	2.00	Director	$0	$0	$0
CEVAN LESIEUR	DIRECTOR	4.00	Director	$0	$0	$0
KEITH MADDING	DIRECTOR	10.00	Director	$0	$0	$0
MICHAEL O'CALLAGHAN	DIRECTOR	4.00	Director	$0	$0	$0
COLEMAN RODENBERG	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS BERNARD	VICE-CHARIMA	6.00	Officer	$0	$0	$0
FORREST BOOTH	CHAIRMAN & C	5.00	Officer	$0	$0	$0
WILLIAM GREIG	TREASURER	2.00	Officer	$0	$0	$0
JOSI JOSE-HOLLEMAN	SECRETARY	3.00	Officer	$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	$1,276,185	$1,502,625	$385,865	$-226,440
2023	$1,357,545	$2,138,086	$583,116	$-780,541
2022	$1,503,915	$1,085,670	$1,363,657	$418,245
2021	$1,148,644	$798,153	$1,028,621	$350,491
2020	$924,985	$736,259	$693,285	$188,726
2019	$1,154,443	$1,181,696	$409,907	$-27,253
2018	$1,315,213	$1,248,689	$437,160	$66,524

THE NATIONAL LIBERTY SHIP MEMORIAL INC