GOLD2023

Lake Champlain Maritime Museum At Basin Harbor Incorporated

aka Lake Champlain Maritime Museum   |   Vergennes, VT   |  www.lcmm.org
GuideStar Charity Check

Lake Champlain Maritime Museum At Basin Harbor Incorporated

EIN: 22-2570380


Mission

To preserve and share the cultural and natural heritage of the Lake Champlain region by connecting its past, present and future through groundbreaking research and engaging educational programs for all ages, inspiring stewardship of the lake for future generations.

Ruling year info

1985

Executive Director

Ms. Susan Evans McClure

Main address

4472 Basin Harbor Rd

Vergennes, VT 05491 USA

Show more contact info

EIN

22-2570380

Subject area info

Museums

Maritime museums

Population served info

Adolescents

At-risk youth

NTEE code info

Museum & Museum Activities (A50)

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Champlain Longboats

Champlain Longboats, through a partnership with local schools, runs a semester-long program where academically-challenged students build a pilot gig wooden boat. These boats that are built yearly then become part of a fleet of 6-8 passenger rowing boats used in partnership with 9 area schools for after school rowing teams. In addition Champlain Longboats hosts 4 races and attends races out of state.

The program also runs an adult community rowing program that roughly 160 adults participated in yearly.

Population(s) Served
Adolescents
At-risk youth

Where we work

Financials

Lake Champlain Maritime Museum At Basin Harbor Incorporated
Fiscal year: Jan 01 - Dec 31
Financial documents
2021 2021 990 Public Copy
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

9.34

Average of 10.01 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

5.1

Average of 3.1 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

17%

Average of 13% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Lake Champlain Maritime Museum At Basin Harbor Incorporated

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Lake Champlain Maritime Museum At Basin Harbor Incorporated

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Lake Champlain Maritime Museum At Basin Harbor Incorporated

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Lake Champlain Maritime Museum At Basin Harbor Incorporated’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

* This organization changed its fiscal year accounting period in 2018. Please refer to its 2018 990s for more information.

Business model indicators

Profitability info 2018 * 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $172,818 -$17,910 $210,258 $157,439 -$93,366
As % of expenses 11.9% -1.3% 16.6% 10.8% -5.9%
Unrestricted surplus (deficit) after depreciation $29,683 -$155,706 $76,428 -$52,587 -$228,740
As % of expenses 1.9% -10.1% 5.5% -3.2% -13.4%
Revenue composition info
Total revenue (unrestricted & restricted) $1,381,505 $1,439,510 $1,444,086 $3,154,369 $1,625,926
Total revenue, % change over prior year -27.1% 4.2% 0.3% 118.4% -48.5%
Program services revenue 29.6% 32.0% 17.7% 7.8% 10.3%
Membership dues 2.2% 0.0% 1.8% 0.9% 1.6%
Investment income 5.1% 5.6% 4.2% 2.0% 4.5%
Government grants 5.0% 10.8% 29.7% 22.5% 24.7%
All other grants and contributions 52.0% 47.1% 39.0% 29.7% 57.7%
Other revenue 6.1% 4.5% 7.6% 37.2% 1.4%
Expense composition info
Total expenses before depreciation $1,455,120 $1,396,395 $1,263,895 $1,452,701 $1,571,495
Total expenses, % change over prior year 13.4% -4.0% -9.5% 14.9% 8.2%
Personnel 64.0% 67.5% 69.6% 67.7% 60.7%
Professional fees 6.7% 4.5% 8.6% 10.3% 15.2%
Occupancy 2.2% 4.5% 2.2% 2.1% 2.7%
Interest 0.6% 0.4% 0.7% 0.6% 0.4%
Pass-through 0.0% 0.0% 0.0% 0.8% 0.0%
All other expenses 26.6% 23.2% 18.9% 18.5% 21.0%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $1,598,255 $1,534,191 $1,397,725 $1,662,727 $1,706,869
One month of savings $121,260 $116,366 $105,325 $121,058 $130,958
Debt principal payment $5,804 $0 $0 $0 $97,139
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $1,725,319 $1,650,557 $1,503,050 $1,783,785 $1,934,966

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 3.3 2.2 2.8 4.2 5.1
Months of cash and investments 27.9 29.0 35.0 33.8 27.2
Months of estimated liquid unrestricted net assets -2.1 1.1 2.5 3.9 1.7
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $399,514 $260,365 $293,262 $506,182 $662,723
Investments $2,980,215 $3,110,495 $3,396,280 $3,587,421 $2,904,903
Receivables $155,984 $173,416 $238,417 $522,908 $389,139
Gross land, buildings, equipment (LBE) $3,537,317 $3,620,081 $3,663,534 $3,427,288 $3,439,724
Accumulated depreciation (as a % of LBE) 55.8% 59.8% 61.3% 66.0% 68.0%
Liabilities (as a % of assets) 8.9% 6.5% 6.5% 6.2% 7.4%
Unrestricted net assets $1,166,624 $1,342,571 $1,418,999 $1,366,412 $1,137,672
Temporarily restricted net assets $258,599 N/A N/A N/A N/A
Permanently restricted net assets $3,268,708 N/A N/A N/A N/A
Total restricted net assets $3,527,307 $3,406,427 $3,646,459 $4,124,025 $3,666,060
Total net assets $4,693,931 $4,748,998 $5,065,458 $5,490,437 $4,803,732

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

Executive Director

Ms. Susan Evans McClure

Susan Evans McClure joined Lake Champlain Maritime Museum in 2018. In her capacity as Executive Director, she leads the talented team of educators, curators, museum professionals, and archaeologists as they explore the relationship between the land, the people, and the water of the Champlain Valley. Previously, Susan was Director of Programs and Audience Development at the Smithsonian’s National Museum of American History, where she led a team responsible for inspiring national conversations on the importance of the humanities to civic life. She also launched the National Museum of American History’s Food History Program and managed on-site educational opportunities for visitors. Susan has also worked in the education departments of the Flynn Center for the Performing Arts and Shelburne Museum. Susan holds an Ed.M. in Arts in Education from the Harvard Graduate School of Education and a B.A. in Theater from McGill University.

Number of employees

Source: IRS Form 990

Lake Champlain Maritime Museum At Basin Harbor Incorporated

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Lake Champlain Maritime Museum At Basin Harbor Incorporated

Board of directors
as of 06/13/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Mr. Scott Hardy

Venture 7

Term: 2022 - 2025

William Fox

Retired, President, St. Lawrence University

Dyer Jones

President, International Twelve Metre Association and Director, The Anchorage, Inc. - Dyer Boats

Frank Koster

Investment Advisor, One Day in July

Ed McGuire

Operator and Education Design, SchoolHack Solutions

Robert Beach

Owner, Basin Harbor

Harry Chaucer

Retired Professor, Castleton University

Tim Hodson

Underwriter, Co-operative Insurance Companies

Amy Johnston

Building Consultant and Author

Hannah Langsdale

Owner, Whistling Man Schooner Company

Wendy Lynch

Retired Teacher, Addison Central School District

Catherine Parker

Customer Success Associate, Catalant Technologies

Adam Powers

Attorney, Powers & Powers PC

Stacy Raphael

Educator, Addison County Northwest School District

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? No
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 10/5/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

No data

Gender identity

No data

Transgender Identity

No data

Sexual orientation

No data

Disability

No data