Nonprofit · EIN 23-7102744
HERRESHOFF MARINE MUSEUM
Tax-exempt · BRISTOL, RI 02809
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,663,744 | $1,906,863 | -$243,119 | $4,670,762 | $1,417,783 | $3,252,979 |
| December 31, 2023 | 990 | $1,640,313 | $1,553,916 | $86,397 | $4,923,954 | $1,460,524 | $3,463,430 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,183,821
- Membership dues
- $59,522
- Program service revenue
- $559,165
- Investment income
- $58,733
- Net rental income
- -$41,921
- Net gain from sales of assets
- $19,988
- Net income from fundraising events
- -$135,117
- Net income from sales of inventory
- $39,063
- Other revenue
- -$137,975
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $144,960
- Other salaries and wages
- $598,721
- Salaries, compensation and benefits (total)
- $808,981
- Professional fundraising fees
- $0
- Legal fees
- $935
- Accounting fees
- $23,000
- Occupancy
- $53,799
- Travel
- $16,216
- Depreciation
- $182,461
- Program services (functional)
- $1,146,390
- Management and general (functional)
- $505,091
- Fundraising (functional)
- $255,382
Balance sheet and other
- Total assets, start of year
- $4,923,954
- Total assets, end of year
- $4,670,762
- Total liabilities, end of year
- $1,417,783
- Net assets, end of year
- $3,252,979
- Land, buildings and equipment
- $2,884,731
- Net assets without donor restrictions
- $1,738,031
- Net assets with donor restrictions
- $1,514,948
- Gross receipts
- $2,112,329
- Employees
- 38
- Volunteers
- 29
- Year formed
- 1971
- State of legal domicile
- RI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| WILLIAM H LYNN | PRESIDENT AND EXECUTIVE DI Trustee or director, Officer | 40 | $144,961 | $10,200 |
| ROBERT AYERLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NEVIN CARR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS CULORA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID FORD | CHAIRMAN EMERITUS Trustee or director, Officer | 3 | $0 | $0 |
| HALSEY C HERRESHOFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HALSEY C HERRESHOFF II | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ELISABETH LAVERS | EX OFFICIO, SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| LAWRENCE D LAVERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN JAY PICOTTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALISON PONDER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT D YARO | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| PAUL BURMEISTER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ERIC HALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GINA MACDONALD | DIRECTOR Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID COIT | DIRECTOR Trustee or director | 3 | $0 |
| PETER GERARD | DIRECTOR Trustee or director | 1 | $0 |
| ROBERT BOB GIRRIER | DIRECTOR Trustee or director | 1 | $0 |
| TIMOTHY L PALMER | DIRECTOR Trustee or director | 1 | $0 |
| MEGHAN STASZ | DIRECTOR Trustee or director | 1 | $0 |
| JIM SHRINER | DIRECTOR Trustee or director | 1 | $0 |
| LADY GAY SUTTON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| WILLIAM H LYNN | PRESIDENT AND EXECUTIVE DI Trustee or director, Officer | 40 | $167,895 | $10,941 |
| ROBERT AYERLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NEVIN CARR | CHAIR - NOMINATING & GOVER Trustee or director, Officer | 1 | $0 | $0 |
| THOMAS CULORA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID FORD | CHAIRMAN EMERITUS Trustee or director, Officer | 3 | $0 | $0 |
| HALSEY C HERRESHOFF | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HALSEY C HERRESHOFF II | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GEOFFREY HOPPER | DIRECTOR Trustee or director | 3 | $0 | $0 |
| LAWRENCE D LAVERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN JAY PICOTTE | CHAIR - COLLECTIONS Trustee or director, Officer | 1 | $0 | $0 |
| ALISON PONDER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT D YARO | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| PAUL BURMEISTER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| STEVE KLOEBLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIC HALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GINA MACDONALD | CHAIR - PLANNING Trustee or director | 1 | $0 | $0 |
| DAVID COIT | DIRECTOR Trustee or director | 3 | $0 | $0 |
| DANA COSTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER GERARD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT BOB GIRRIER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIMOTHY L PALMER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MEGHAN STASZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JIM SHRINER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ELISABETH LAVERS | EX OFFICIO, SECRETARY Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 450, BRISTOL, RI 02809-0450
- Principal officer (990 for 2024)
- WILLIAM LYNN, 1 BURNSIDE STREET, BRISTOL, RI 02809
- Signed the 990
- WILLIAM LYNN, EXECUTIVE DIRECTOR
- Phone
- (401) 253-5000
- Website
- WWW.HERRESHOFF.ORG
- Return prepared by
- MULLEN SCORPIO & CERILLI
Mission
INTERPRETATION OF THE HISTORY AND ACCOMPLISHMENTS OF THE HERRESHOFF MANUFACTURING COMPANY AND AMERICA'S CUP.
Program accomplishments
- WATERFRONT AND EDUCATION PROGRAMS: INCLUDES THE SEAMANSHIP PROGRAM, LECTURES, THE WORKSHOP PROGRAM IN CLASSIC BOAT MAINTENANCE AND EDUCATIONAL PARTNERSHIPS. THE WORKSHOP PROGRAM IN CLASSIC BOAT MAINTENANCE PROVIDES A HANDS-ON EXPERIENCE IN HELPING TO CARE FOR THE MUSEUM'S ACTIVE-USE COLLECTION OF WATERCRAFT. THE SEAMANSHIP PROGRAM'S PRIMARY GOALS ARE TO TEACH SAILING SKILLS AND WATER AWARENESS, TO INSTILL A LOVE OF THE MARINE ENVIRONMENT AND TO CREATE LIFELONG SAILORS.Expenses $578,721 · revenue $472,835
- MUSEUM ACTIVITIES AND ADMISSIONS: THE HERRESHOFF MARINE MUSEUM AND AMERICA'S CUP HALL OF FAME ARE DEDICATED TO THE INSPIRATION AND EDUCATION OF THE PUBLIC THROUGH THE PRESENTATION OF THE HISTORY AND INNOVATIVE WORK OF THE HERRESHOFF MANUFACTURING COMPANY AND THE AMERICA'S CUP COMPETITION. VISITORS TO THE MUSEUM HAVE THE OPPORTUNITY TO EXPLORE THE WORLD'S LARGEST COLLECTION OF ANY ONE NAVAL ARCHITECT'S LIFE WORK. THE GENIUS OF THE HERRESHOFF BROTHERS IS UNSURPASSED IN ITS COMINBATION OF BUSINESS ACUMEN AND INNOVATION.Expenses $411,213 · revenue $67,858
- PROGRAM EVENTS: THE MUSEUM'S MONTHLY LECTURE SERIES BRINGS THE KNOWLEDGE OF ESTABLISHED AUTHORS, SAILORS, AND EXPERTS DIRECTLY TO THE PUBLIC. TOPICS COVER HISTORIC MARITIME EVENTS, CONTEMPORARY EXHIBITS AND SAILING PROGRAMS, AND ONGOING RESTORATION PROJECTS AND REPLICA BUILDS. PROGRAM EVENTS ALSO INCLUDE THE HERRESHOFF CLASSIC YACHT REGATTA WHICH BRINGS CLASSIC YACHT ENTHUSIASTS TO THE MUSEUM ON NARRAGANSETT BAY FOR AN ANNUAL CELEBRATION OF THE HERRESHOFF MANUFACTURING COMPANY HERITAGE.Expenses $30,343 · revenue $10,842
- EXPENSES FOR OTHER PROGRAM SERVICES INCLUDE MUSEUM STORE PAYROLL AND FIXTURES, REPAIRS AND MAINTENANCE OF MULTIPLE HISTORIC BUILDINGS ON THE ORGANIZATION'S CAMPUS, AND SPECIALTY PROJECTS FOR CONTENT DEVELOPMENT. THE BALANCE OF PROGRAM SERVICE REVENUE IS FROM COMMERCIAL SPONSORS.Expenses $126,113 · revenue $7,630
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7102744
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1994
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A540)
- Assets (IRS master file)
- $4,670,762
- Income (IRS master file)
- $2,112,329
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,663,744 | $1,906,863 | $4,670,762 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $1,640,313 | $1,553,916 | $4,923,954 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $1,623,876 | $1,565,625 | $4,774,200 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7102744).
Questions about HERRESHOFF MARINE MUSEUM
- What is the EIN of HERRESHOFF MARINE MUSEUM?
- The employer identification number (EIN) of HERRESHOFF MARINE MUSEUM is 23-7102744.
- Is HERRESHOFF MARINE MUSEUM tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to HERRESHOFF MARINE MUSEUM tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HERRESHOFF MARINE MUSEUM file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HERRESHOFF MARINE MUSEUM due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HERRESHOFF MARINE MUSEUM last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of HERRESHOFF MARINE MUSEUM?
- The 990 for the year ended December 31, 2024 names WILLIAM LYNN.
- Who are the officers and directors of HERRESHOFF MARINE MUSEUM?
- The 990 for the year ended December 31, 2024 lists 22 people; 1 received compensation from the organization, the highest $144,961 (WILLIAM H LYNN, PRESIDENT AND EXECUTIVE DI).
- How much revenue does HERRESHOFF MARINE MUSEUM have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,663,744, expenses of $1,906,863 and total assets of $4,670,762 at year end.
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