Form 990 for tax year 2024

Filed by MARINERS MUSEUM.

Totals

Total revenue: $14,341,457
Total expenses: $12,472,762
Contributions and grants received: $9,749,067
Grants paid: $20,548
Program service revenue: $161,254
Investment income: $3,865,281
Other revenue: $565,855
Total assets, end of year: $154,526,932
Total liabilities, end of year: $8,567,160
Net assets or fund balances, end of year: $145,959,772
Program services expenses (Part IX): $10,130,363
Management and general expenses: $853,306
Fundraising expenses: $1,489,093
Program service expenses (Part III): $10,130,363

Program services were 81.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1b · Membership dues

$40,248
1f · All other contributions, gifts and grants

$9,708,819
1g · Noncash contributions included above

$239,980
2a · Program service revenue: ADMISSIONS

total $97,844 · related or exempt $97,844
2b · Program service revenue: PHOTOGRAPHY

total $26,132 · related or exempt $26,132
2c · Program service revenue: EDUCATION PROGRAM FEES

total $22,061 · related or exempt $22,061
2d · Program service revenue: MEMBERSHIP FEES-PROGRA

total $15,217 · related or exempt $15,217
3 · Investment income

total $728,498 · excluded $728,498
6a · Gross rents

real property $222,674
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $222,674
6d · Net rental income or loss

total $222,674 · excluded $222,674
7a · Gross sales of assets other than inventory

securities $6,564,865
7b · Less cost or other basis and sales expenses

securities $3,428,082
7c · Gain or loss

securities $3,136,783
7d · Net gain or loss

total $3,136,783 · excluded $3,136,783
10a · Gross sales of inventory

$107,691
10b · Cost of goods sold

$53,973
10c · Net income from sales of inventory

total $53,718 · related or exempt $50,218 · unrelated business $3,500
11a · Other revenue: CONTRACT REVENUE

total $243,648 · related or exempt $243,648
11b · Other revenue: OTHER

total $45,815 · related or exempt $45,815
11e · Other revenue, total

$289,463

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $20,548 · program services $20,548
5 · Compensation of officers, directors and key employees

total $597,514 · program services $316,384 · management and general $85,457 · fundraising $195,673
7 · Other salaries and wages

total $6,133,388 · program services $5,060,818 · management and general $251,860 · fundraising $820,710
8 · Pension plan contributions

total $226,680 · program services $182,565 · management and general $11,276 · fundraising $32,839
9 · Other employee benefits

total $718,741 · program services $581,086 · management and general $37,362 · fundraising $100,293
10 · Payroll taxes

total $485,622 · program services $391,114 · management and general $24,157 · fundraising $70,351
11b · Fees: legal

total $9,785 · program services $8,597 · management and general $1,115 · fundraising $73
11c · Fees: accounting

total $51,065 · program services $44,869 · management and general $5,817 · fundraising $379
11g · Fees: other

total $211,545 · program services $95,487 · management and general $25,897 · fundraising $90,161
12 · Advertising and promotion

total $33,163 · program services $2,888 · management and general $188 · fundraising $30,087
13 · Office expenses

total $158,830 · program services $125,909 · management and general $7,802 · fundraising $25,119
14 · Information technology

total $68,070 · program services $61,906 · management and general $5,787 · fundraising $377
16 · Occupancy

total $800,982 · program services $701,925 · management and general $90,493 · fundraising $8,564
17 · Travel

total $69,099 · program services $54,560 · management and general $7,135 · fundraising $7,404
19 · Conferences, conventions and meetings

total $64,297 · program services $61,800 · management and general $862 · fundraising $1,635
20 · Interest

total $102,969 · program services $90,475 · management and general $11,729 · fundraising $765
22 · Depreciation, depletion and amortization

total $1,691,832 · program services $1,486,545 · management and general $192,717 · fundraising $12,570
23 · Insurance

total $88,410 · program services $72,465 · management and general $9,394 · fundraising $6,551
24a · Other expenses: OTHER EXPENSE

total $517,761 · program services $420,776 · management and general $48,579 · fundraising $48,406
24b · Other expenses: REPAIRS AND MAINTENANCE

total $355,687 · program services $311,043 · management and general $30,076 · fundraising $14,568
24c · Other expenses: EVENT AND PROGRAM COSTS

total $57,300 · program services $29,185 · management and general $5,589 · fundraising $22,526
24d · Other expenses: EXHIBITION COSTS

total $9,474 · program services $9,418 · management and general $14 · fundraising $42

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $2,184,248 · end of year $1,327,538
2 · Savings and temporary cash investments

beginning of year $6,812,591 · end of year $4,887,458
3 · Pledges and grants receivable

beginning of year $1,852,593 · end of year $3,375,633
4 · Accounts receivable

beginning of year $79,637 · end of year $40,855
8 · Inventories for sale or use

beginning of year $50,983 · end of year $47,021
9 · Prepaid expenses and deferred charges

beginning of year $16,401 · end of year $104,887
10a · Land, buildings and equipment: cost or other basis

$73,397,168
10b · Land, buildings and equipment: accumulated depreciation

$50,939,565
10c · Land, buildings and equipment, net

beginning of year $22,689,670 · end of year $22,457,603
11 · Investments: publicly traded securities

beginning of year $15,780,744 · end of year $18,522,957
15 · Other assets

beginning of year $98,125,358 · end of year $103,762,980
17 · Accounts payable and accrued expenses

beginning of year $945,993 · end of year $801,933
19 · Deferred revenue

beginning of year $2,891,075 · end of year $2,811,502
20 · Tax-exempt bond liabilities

beginning of year $5,275,826 · end of year $4,953,725
27 · Net assets without donor restrictions

beginning of year $18,599,523 · end of year $16,058,092
28 · Net assets with donor restrictions

beginning of year $119,879,808 · end of year $129,901,680

Mission and programs · 2024

Mission

THE MARINERS' MUSEUM AND PARK CONNECTS PEOPLE TO THE WORLD'S WATERS, BECAUSE THROUGH THE WATERS - THROUGH OUR SHARED MARITIME HERITAGE - WE ARE CONNECTED TO ONE ANOTHER.

THE TWO OPERATIONAL TENETS OF THE "COMMUNITY-FOCUSED" PRONG OF OUR STRATEGY ARE "ACCESS" (TO THE ART, ARTIFACTS, AND ARCHIVAL MATERIAL OF THE MARINERS' MUSEUM COLLECTION, AND TO THE "LIVING COLLECTION" THE FOREST, LAKE, AND WILDLIFE - WITHIN MARINERS' PARK), AND "VALUE" (WITH A PRIMARY FOCUS ON EDUCATIONAL ENRICHMENT PROGRAMS SERVING SCHOOL-AGED CHILDREN). OUR EDUCATIONAL ENRICHMENT PROGRAMS (EEP'S) ARE DESIGNED TO PROVIDE ENGAGING EXPERIENCES THAT ENHANCE THE STANDARD CLASSROOM CURRICULUM, ENCOURAGE ACTIVE STUDENT PARTICIATION, AND EMPHASIZE IMPORTANT LIFE SKILLS SUCH AS CRITICAL THINKING AND COMMUNICATION. PARTICIPATION IN OUR EEP'S FOSTER A GREATER SENSE OF BELONGING WITHIN THE STUDENTS WE SERVE, CONSISTENT WITH THE GOALS OF OUR MISSION. DURING THE 2023-2024 ACADEMIC YEAR, THE MARINERS' MUSEUM SERVED LOCAL SCHOOLS WITH MORE THAN 26,000 STUDENT ENGAGEMENTS. OVER 80% OF THESE STUDENTS PARTICIPATED FOR FREE, THE PROGRAMS FOR THE REMAINDER WERE HEAVILY SUBSIDIZED, AND IN MANY INSTANCES, WE PAID THE TRANSPORTATION COSTS TO GET THE STUDENTS TO OUR MARINERS' CAMPUS. OUR TEAM ALSO COMPLETED THE FIRST YEAR OF "THE MARINERS' LAKE EFFECT" PROGRAM WITH ALL SIXTH-GRADERS FROM NEWPORT NEWS PUBLIC SCHOOLS. FOR MANY, THIS WAS THEIR FIRST TIME ON THE WATER FOR AN IMMERSIVE KAYAK EXPERIENCE.

Expenses $4,596,036 · Grants $11,560 · Revenue $325,719
ONE OF THE TWO OPERATIONAL TENETS OF THE "COLLECTIONS-BASED" PRONG OF OUR STRATEGY IS "CONSERVATION" OF THE ART, ARTIFACTS, AND ARCHIVAL MATERIAL OF THE MARINERS' MUSEUM COLLECTION ("HERITAGE CONSERVATION") AND OF THE "LIVING COLLECTION" THE FOREST, LAKE, AND WILDLIFE - WITHIN MARINERS' PARK ("ENVIRONMENTAL CONSERVATION"). HIGHLIGHTS FROM HERITAGE CONSERVATION WORK IN 2024 FEATURE THE RELOCATION OF THE MUSEUM'S NEARLY 90 FIGUREHEADS AS WELL AS OVER TWO DOZEN STERNBOARDS WITH THE GOAL OF IMPROVING THE PREVENTIVE CARE OF THESE IMPORTANT COLLECTIONS. TEAM MEMBERS FROM MULTIPLE MUSEUM DEPARTMENTS BUILT OUT STORAGE FOR THESE RELOCATED COLLECTIONS ACTUALLY WITHIN MUSEUM GALLERIES, SIMULTANEOUSLY IMPROVING COMMUNITY ACCESS TO THE COLLECTIONS. CONTEMPORANEOUSLY, THE MUSEUM'S DIGITIZATION AND ARCHIVAL TEAMS LAUNCHED AN IN-HOUSE DIGITIZATION PROJECT FUNDED BY A "SAVE AMERICA'S TREASURES" GRANT. NEARLY 13,500 NEGATIVES WERE DIGITIZED FROM THE A. AUBREY BODINE AND EDWIN LEVICK COLLECTIONS. THE MARINERS' PARK TEAM AND OUR CONSERVATION SCIENTIST CONTINUED ACTIVE WATER QUALITY TESTING OF OUR 167-ACRE MARINERS' LAKE, A PROGRAM THAT SHOWS OUR STORMWATER-FED LAKE REMAINS HEALTHY. OUR FOREST MANAGEMENT TEAM CONTINUED THE REMOVAL OF HAZARD TREES ALONG PUBLIC TRAILS WITHIN MARINERS' PARK, AND SUSTAINED EARLIER INVASIVE-SPECIES REMOVAL EFFORTS WITHIN THE FOREST.

Expenses $2,986,932 · Grants $4,850 · Revenue $159,806
ONE OF THE TWO OPERATIONAL TENETS OF THE "COLLECTIONS-BASED" PRONG OF OUR STRATEGY IS "RESEARCH, OR "BUILDING THE BODY OF KNOWLEDGE" ABOUT THE MARINERS' MUSEUM'S VAST MARITIME ARCHIVAL COLLECTION (AN ESTIMATED 2 MILLION ARCHIVAL PIECES), MARITIME LIBRARY (OVER 100,000 VOLUMES), MARITIME ART COLLECTION (THOUSANDS OF PAINTINGS AND WORKS ON PAPER), AND MARITIME ARTIFACT COLLECTION, AND ABOUT THE "LIVING COLLECTION" THE FOREST, LAKE, AND WILDLIFE WITHIN MARINERS' PARK. IN 2024, OUR CONSERVATION RESEARCH SCIENTIST, IN COLLABORATION WITH A CONSERVATION SCIENCE FELLOW, FURTHER REFINED AN APPROACH TO CAPTURE AND/OR MITIGATE THE EFFECTS OF SULPHUR TRAPPED IN WATERLOGGED ARCHAEOLOGICAL WOOD. THIS PROBLEM, UNTREATED, MANIFESTS ITSELF IN THE DEVELOPMENT OF SULFURIC ACID WHEN FORMERLY WATERLOGGED ARCHAEOLOGICAL WOOD THAT IS DRIED AND DISPLAYED - A PARTICULARLY THORNY PROBLEM FOR RECOVERED AND CONSERVED HISTORIC SHIPWRECKS GLOBALLY. OUR ARCHIVAL TEAM AND CURATORIAL TEAM IMPROVED THE CATALOGING OF SIGNIFICANT PORTIONS OF OUR ARCHIVE, PHOTOGRAPHIC, AND ARTIFACT COLLECTIONS, WITH A PARTICULAR EMPHASIS ON CAPTURING THE HUMAN STORIES THAT LIVE WITHIN THESE COLLECTION ITEMS. WE REGULARLY HOST PARTNER RESEARCHERS FROM HIGHER EDUCATION INSTITUTIONS AND OTHER TYPES OF INSTITUTIONS WITHIN THE MARINERS' PARK, AND IN 2024 ESTABLISHED, FOR THE FIRST TIME, A FORMAL RESEARCH LIAISON AND MANAGER TO SUPPORT THIS TYPE OF RESEARCH IN THE LIVING COLLECTION AND BEGIN DESIGNING A SYSTEM FOR AGGREGATING AND DISSEMINATING THAT RESEARCH.

Expenses $2,547,395 · Grants $4,138 · Revenue $18,910

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Brad BarnesBRAD BARNES

TRUSTEE

Total calculated

$0

Hours/week

1
Jennifer BoykinJENNIFER BOYKIN

CHAIRMAN OF THE BOARD

Total calculated

$0

Hours/week

1
Stuart HendersonSTUART HENDERSON

TRUSTEE

Total calculated

$0

Hours/week

1
Camille CherryCAMILLE CHERRY

TRUSTEE

Total calculated

$0

Hours/week

1
Margaret PodlichMARGARET PODLICH

TRUSTEE

Total calculated

$0

Hours/week

1
Kenneth CroftonKENNETH CROFTON

TRUSTEE

Total calculated

$0

Hours/week

1
Jerry MillerJERRY MILLER

TRUSTEE

Total calculated

$0

Hours/week

1
Brian SkinnerBRIAN SKINNER

TRUSTEE

Total calculated

$0

Hours/week

1
Kevin SwannKEVIN SWANN

TRUSTEE

Total calculated

$0

Hours/week

1
Lindsey Carney SmithLINDSEY CARNEY SMITH

TRUSTEE

Total calculated

$0

Hours/week

1
Tina MorrisTINA MORRIS

VICE CHAIRMAN

Total calculated

$0

Hours/week

1
Kevin FewsterKEVIN FEWSTER

TRUSTEE

Total calculated

$0

Hours/week

1
Carolyn KurtzCAROLYN KURTZ

TRUSTEE

Total calculated

$0

Hours/week

1
McKinley PriceMCKINLEY PRICE

TRUSTEE

Total calculated

$0

Hours/week

1
Marsha HudginsMARSHA HUDGINS

SECRETARY

Total calculated

$0

Hours/week

1
Taylor LawsonTAYLOR LAWSON

TRUSTEE

Total calculated

$0

Hours/week

1
Clayton TurnerCLAYTON TURNER

TRUSTEE

Total calculated

$0

Hours/week

1
Howard H Hoege IIIHOWARD H HOEGE III

PRESIDENT & CEO

Total calculated

$281,876

From this org

$256,777

From related orgs

$0

Other

$25,099

Hours/week

40

Schedule J breakdown matched by us

Base

$256,777

Bonus

$0

Other

$0

Deferred

$9,591

Nontaxable benefits

$15,508

Filer's total

$281,876
Jeffrey EsberJEFFREY ESBER

CONTROLLER & TREASURER

Total calculated

$134,443

From this org

$121,353

From related orgs

$0

Other

$13,090

Hours/week

40
Nelson ForbesNELSON FORBES

VP COLLECTIONS, CHIEF CURA

Total calculated

$128,745

From this org

$112,187

From related orgs

$0

Other

$16,558

Hours/week

40
Luisa A Vazquez-LopezLUISA A VAZQUEZ-LOPEZ

CHIEF OF STAFF

Total calculated

$124,967

From this org

$107,198

From related orgs

$0

Other

$17,769

Hours/week

40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

2 · Substantiation required before reimbursing expenses
4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A: THE MUSEUM BUILT A RESIDENCE IN THE 1940'S AS A GUEST HOUSE FOR VISITING DIGNITARIES, OUT OF TOWN TRUSTEES AND OTHER GUESTS OF THE MUSEUM. THE PRESIDENT AND CEO IS REQUIRED BY CONTRACT TO LIVE IN THE HOUSE TO ACT AS HOST TO THESE GUESTS AND TO SPONSOR EVENTS FOR THE MUSEUM AND THE LOCAL COMMUNITY. THIS INCLUDES FUND RAISING ACTIVITIES AND MEETINGS.
PART I, LINE 1B: THE MUSEUM BY-LAWS GIVE THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES THE AUTHORITY TO SET THE COMPENSATION OF THE CEO. THE CEO IS EMPLOYED PURSUANT TO A FORMAL EMPLOYMENT AGREEMENT BETWEEN THE MUSEUM AND CEO. THIS EMPLOYMENT AGREEMENT SETS THE TERMS OF THE CEO'S EMPLOYMENT AND MANDATES THAT THE CEO LIVE IN THE MUSEUM HOUSE FOR THE PRIMARY BENEFIT OF THE MUSEUM.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2024
Filed: 10 November 2025
IRS schema version: 2024v5.2
Source object: 202543159349305414

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