Maritime Museum Association of San… - Form 990 Financial Data

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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

1948

Legal Domicile

Phone

6192349153

Tax Period

2023-01-01 to 2023-12-31

Maritime Museum Association of San Diego, founded in 1948, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.4M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $5.0M exceeded revenue, resulting in a 12% operating deficit.

Mission

The Maritime Museum of San Diego restores, maintains and operates historic vessels.The museum has one of the world's finest collections of historic ships, including the world's oldest active ship Star of India.

Program Service Accomplishments

Program 1

Expenses: $2,883,172 Revenue: $3,822,867

In 2023 the Maritime Museum welcomed approximately 53.339 visitors through the gate, and served approximately 9,864 school children and 43,475 adults and families. Museum activities take place aboard seven historic vessels (the flagship is the 1863 bark Star of India, the world's oldest active sailing ship). Maritime history is interpreted through: 1)permanent and temporary exhibits; 2)public programs (e.g.,Family Days with nautical activities for adults and children, half-day tall ship sailings, sea chantey concerts, members' nights, and travel programs); 3)publications (peer-reviewed journal of maritime history, quarterly newsletter); and 4)education programs (science of seafaring workshops, environmental education on the bay, day and overnight living history programs, sail training for at risk youth, docent-led tours).

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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 $1,136,005

Program Service Revenue $3,135,462

Investment Income $117,906

Other Revenue $45,570

TOTAL REVENUE $4,434,943

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,454,678

Fundraising Expenses $523,666

Program Expenses $2,883,172

Other Expenses $2,521,652

TOTAL EXPENSES $4,976,330

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,434,943	$5,007,732	-0.1%
Expenses	$4,976,330	$4,636,713	+0.1%
Net Income	$-541,387	$371,019	-2.5%

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

276

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

$183,538

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Al Love	Director	2.00	Director	$0	$0	$0
Bill Bartsch	Director	2.00	Director	$0	$0	$0
Brian Bilbray	Director	2.00	Director	$0	$0	$0
David O'Brien	Director	2.00	Director	$0	$0	$0
Deward Houck	Director	1.00	Director	$0	$0	$0
Douglas Sharp	Director	2.00	Director	$0	$0	$0
Dr Iris Engstrand	Director	2.00	Director	$0	$0	$0
Erich Lathers	Director	2.00	Director	$0	$0	$0
Gary Gould	Director	2.00	Director	$0	$0	$0
Greg Cox	Director	2.00	Director	$0	$0	$0
Greg Murphy	Director	2.00	Director	$0	$0	$0
John Laun	Director	3.00	Director	$0	$0	$0
Kenneth Andersen	Director	2.00	Director	$0	$0	$0
Kenneth Stipanov	Chairman of the Board	2.00	Officer Director	$0	$0	$0
Manish Parikh	Director	2.00	Director	$0	$0	$0
Margaret Clark	Representative for the Docents	2.00	Director	$0	$0	$0
Michael Garmon	Director	2.00	Director	$0	$0	$0
Pamela Werner	Director	2.00	Director	$0	$0	$0
Steve Frailey	Director	2.00	Director	$0	$0	$0
Thomas Workman	Director	2.00	Director	$0	$0	$0
William Dysart	Director	2.00	Director	$0	$0	$0
Raymond Ashley	President/CEO	40.00	Key Emp	$183,538	$0	$183,538
Susan Sirota	Employee	40.00	Highest	$117,486	$0	$117,486

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	$4,434,943	$4,976,330	$17,260,221	$-541,387
2022	$5,007,732	$4,636,713	$17,749,891	$371,019
2021	$4,433,821	$3,311,452	$18,714,053	$1,122,369
2020	$2,963,923	$3,038,954	$16,666,370	$-75,031
2019	$4,535,752	$5,272,545	$16,622,726	$-736,793
2018	$5,513,585	$5,356,398	$16,647,077	$157,187

Maritime Museum Association of San Diego