HERRESHOFF MARINE MUSEUM Charity Report

Public IRS 990 nonprofit record

HERRESHOFF MARINE MUSEUM

EIN 23-7102744 · Arts, Culture & Humanities (A540)

What they do

INTERPRETATION of THE HISTORY and ACCOMPLISHMENTS of THE HERRESHOFF MANUFACTURING COMPANY and AMERICAS CUP.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $60.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders22 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

68.90%of revenue went to mission work60.1% of expenses · Program services

15.35%of revenue went to fundraising13.4% of expenses

$114.61spent for every $100 of revenueSpending was higher than revenue this year.

30.36%of revenue went to management and office costs26.5% of expenses

$2.45in assets for every $1 spent this yearSome assets cannot be spent right away.

71.2%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $243,119 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $155,161 for WILLIAM H LYNN (PRESIDENT AND EXECUTIVE DI). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$1,663,744

Mission workProgram services$1,146,39068.90% of revenue60.1% of expenses

ManagementOffice and general costs$505,09130.36% of revenue26.5% of expenses

FundraisingAsking for donations$255,38215.35% of revenue13.4% of expenses

Total expenses$1,906,863114.61% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 60.1% mission · 26.5% management · 13.4% fundraisingTotal expenses: 114.61% of revenue

2023Expense mix: 60.9% mission · 21.1% management · 17.9% fundraisingTotal expenses: 94.73% of revenue

2022Expense mix: 58.0% mission · 25.7% management · 16.4% fundraisingTotal expenses: 96.41% of revenue

2021Expense mix: 56.2% mission · 22.2% management · 21.6% fundraisingTotal expenses: 103.84% of revenue

2020Expense mix: 57.3% mission · 27.6% management · 15.1% fundraisingTotal expenses: 76.79% of revenue

2019Expense mix: 66.8% mission · 21.4% management · 11.8% fundraisingTotal expenses: 77.67% of revenue

2018Expense mix: 68.3% mission · 24.3% management · 7.4% fundraisingTotal expenses: 94.99% of revenue

2017Expense mix: 63.4% mission · 28.9% management · 7.8% fundraisingTotal expenses: 87.05% of revenue

Money in and money out

Revenue$1,663,744

Expenses$1,906,863

Annual shortfall $243,119 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,146,390 · 60.1% of expenses

Management and office costs$505,091 · 26.5% of expenses

Fundraising$255,382 · 13.4% of expenses

See all reported dollar amounts

Revenue$1,663,744

Expenses$1,906,863

Assets$4,670,762

Income$2,112,329

Contributions$1,183,821

Mission work (program services)$1,146,390

Fundraising$255,382

Management and general$505,091

Accounting fees$23,000

Investing fees$3,124

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

WILLIAM H LYNNPRESIDENT AND EXECUTIVE DI · 40 hrs/week $155,161Base $144,961 · Other $10,200

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (22)

WILLIAM H LYNNPRESIDENT AND EXECUTIVE DI

LAWRENCE D LAVERSDIRECTOR

TIMOTHY L PALMERDIRECTOR

THOMAS CULORADIRECTOR

ROBERT D YAROCHAIRMAN

ROBERT BOB GIRRIERDIRECTOR

ROBERT AYERLEDIRECTOR

PETER GERARDDIRECTOR

PAUL BURMEISTERTREASURER

NEVIN CARRDIRECTOR

MEGHAN STASZDIRECTOR

ALISON PONDERVICE CHAIR

LADY GAY SUTTONDIRECTOR

JOHN JAY PICOTTEDIRECTOR

JIM SHRINERDIRECTOR

HALSEY C HERRESHOFF IIDIRECTOR

HALSEY C HERRESHOFFDIRECTOR

GINA MACDONALDDIRECTOR

ERIC HALLDIRECTOR

ELISABETH LAVERSEX OFFICIO, SECRETARY

DAVID FORDCHAIRMAN EMERITUS

DAVID COITDIRECTOR

About this charity

Recognized since: January 1994
Location: ONE BURNSIDE STREET, BRISTOL, RI 02809
County: Bristol
In care of: WILLIAM LYNN
Primary officer: WILLIAM LYNN, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone(401) 253-5000

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: MULLEN SCORPIO & CERILLI
NTEE classification: Arts, Culture & Humanities (A540)