GOLD2023

National Sailing Hall of Fame Museum, Inc

Preserving America's Sailing Legacy, Engaging Sailing's Next Generation

aka The Sailing Museum   |   Newport, RI   |  http://www.thesailingmuseum.org
GuideStar Charity Check

National Sailing Hall of Fame Museum, Inc

EIN: 54-2152883


Mission

Through The Sailing Museum, the National Sailing Hall of Fame honors the history of sailing and celebrates those who have built the sport, inspiring new generations of sailors and innovators.

Ruling year info

2004

Executive Director

Heather Ruhsam

Main address

365 Thames Street

Newport, RI 02840 USA

Show more contact info

EIN

54-2152883

Subject area info

Museums

Sport and hobby museums

STEM education

Boating

Population served info

Children and youth

Adults

NTEE code info

Museum & Museum Activities (A50)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

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?

National Sailing Hall of Fame Induction

Sailing in America has been shaped by generations of individuals who have demonstrated the courage and conviction to plot their own courses, defy convention and redefine excellence. Ours is a sport that has evolved because of these unique individuals and the Hall of Fame provides a home to honor their achievements and make relevant and essential the values and sportsmanship that sailing embodies. As of 2022, 113 legendary sailors have been inducted into the Hall.

Population(s) Served
Age groups

Where we work

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

  • What challenges does the organization face when collecting feedback?

    Staff find it hard to prioritize feedback collection and review due to lack of time

Financials

National Sailing Hall of Fame Museum, Inc
Fiscal year: Jan 01 - Dec 31
Financial documents
2021 National Sailing Hall of Fame, dba The Sailing Museum
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

0.34

Average of 46.59 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

7.9

Average of 26.4 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

12%

Average of 9% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

National Sailing Hall of Fame Museum, Inc

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

National Sailing Hall of Fame Museum, Inc

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

National Sailing Hall of Fame Museum, Inc

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of National Sailing Hall of Fame Museum, Inc’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.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $100,353 $1,979,142 $2,229,247 $3,053,582 $397,736
As % of expenses 24.2% 426.8% 497.8% 384.2% 28.2%
Unrestricted surplus (deficit) after depreciation $100,353 $1,941,606 $2,181,341 $3,002,517 -$215,392
As % of expenses 24.2% 387.4% 440.0% 355.0% -10.6%
Revenue composition info
Total revenue (unrestricted & restricted) $758,047 $706,314 $3,487,450 $4,150,858 $1,401,815
Total revenue, % change over prior year 14.4% -6.8% 393.8% 19.0% -66.2%
Program services revenue 2.5% 1.5% 0.2% 1.3% 14.6%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 1.2% 0.3% 0.0% 0.0% 0.0%
Government grants 0.9% 0.0% 0.4% 0.0% 0.0%
All other grants and contributions 95.5% 93.4% 99.1% 98.7% 83.3%
Other revenue 0.0% 4.8% 0.2% 0.0% 2.1%
Expense composition info
Total expenses before depreciation $414,349 $463,700 $447,862 $794,797 $1,411,692
Total expenses, % change over prior year -38.8% 11.9% -3.4% 77.5% 77.6%
Personnel 31.6% 19.9% 48.2% 48.6% 40.7%
Professional fees 0.0% 16.4% 11.4% 5.0% 6.0%
Occupancy 0.0% 0.4% 14.6% 9.3% 9.4%
Interest 0.0% 0.0% 0.0% 4.9% 9.8%
Pass-through 0.0% 0.0% 0.0% 0.0% 0.0%
All other expenses 68.4% 63.3% 25.8% 32.1% 34.1%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $414,349 $501,236 $495,768 $845,862 $2,024,820
One month of savings $34,529 $38,642 $37,322 $66,233 $117,641
Debt principal payment $0 $0 $0 $0 $269,795
Fixed asset additions $0 $1,755,677 $0 $0 $7,767,691
Total full costs (estimated) $448,878 $2,295,555 $533,090 $912,095 $10,179,947

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 57.6 2.1 33.5 49.8 7.9
Months of cash and investments 57.6 2.1 33.5 49.8 7.9
Months of estimated liquid unrestricted net assets 6.6 11.6 71.6 111.0 7.4
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $1,987,999 $79,740 $1,248,692 $3,297,483 $925,815
Investments $0 $0 $0 $0 $0
Receivables $409,700 $200,000 $205,000 $2,045,092 $1,681,446
Gross land, buildings, equipment (LBE) $78,530 $1,755,677 $1,761,756 $1,783,375 $9,545,935
Accumulated depreciation (as a % of LBE) 100.0% 2.1% 4.7% 7.3% 7.7%
Liabilities (as a % of assets) 0.7% 3.4% 4.0% 25.7% 23.4%
Unrestricted net assets $226,592 $2,168,198 $4,349,539 $7,352,056 $7,136,664
Temporarily restricted net assets $2,290,688 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $2,290,688 $564,843 $1,497,155 $2,068,892 $1,704,498
Total net assets $2,517,280 $2,733,041 $5,846,694 $9,420,948 $8,841,162

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
Form 1023/1024 is not available for this organization

Executive Director

Heather Ruhsam

Number of employees

Source: IRS Form 990

National Sailing Hall of Fame Museum, Inc

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.

National Sailing Hall of Fame Museum, Inc

Board of directors
as of 06/07/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Gary Jobson


Board co-chair

Tom Whidden

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.

  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • 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? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • 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 2/23/2023

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

Gender identity

Transgender Identity

Sexual orientation

Disability

Contractors

Fiscal year ending

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser