Form 990 for tax year 2024

Filed by NAUTICUS.

Totals

Total revenue: $5,965,329
Total expenses: $4,395,363
Contributions and grants received: $3,077,248
Grants paid: $0
Program service revenue: $2,144,275
Investment income: $63,636
Other revenue: $680,170
Total assets, end of year: $19,537,732
Total liabilities, end of year: $564,228
Net assets or fund balances, end of year: $18,973,504
Program services expenses (Part IX): $3,714,734
Management and general expenses: $413,828
Fundraising expenses: $266,801
Program service expenses (Part III): $3,714,734

Program services were 84.5% 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.

1d · Related organizations

$1,975,295
1f · All other contributions, gifts and grants

$1,101,953
1g · Noncash contributions included above

$301
2a · Program service revenue: EVENT ADMISSION

total $1,268,707 · related or exempt $1,268,707
2b · Program service revenue: EVENT SALES

total $263,771 · related or exempt $263,771
2c · Program service revenue: PROGRAM FEES

total $210,183 · related or exempt $210,183
2d · Program service revenue: MEMBERSHIP

total $134,780 · related or exempt $134,780
2e · Program service revenue: TUITION

total $117,042 · related or exempt $117,042
2f · All other program service revenue

total $149,792 · related or exempt $149,792
3 · Investment income

total $63,636 · excluded $63,636
6a · Gross rents

real property $116,387
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $116,387
6d · Net rental income or loss

total $116,387 · excluded $116,387
10a · Gross sales of inventory

$1,006,475
10b · Cost of goods sold

$442,692
10c · Net income from sales of inventory

total $563,783 · related or exempt $563,783

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $1,684,439 · program services $1,336,617 · management and general $193,583 · fundraising $154,239
8 · Pension plan contributions

total $34,452 · program services $26,872 · management and general $3,101 · fundraising $4,479
9 · Other employee benefits

total $203,623 · program services $173,122 · management and general $11,830 · fundraising $18,671
10 · Payroll taxes

total $125,140 · program services $103,960 · management and general $11,247 · fundraising $9,933
11b · Fees: legal

total $1,900 · program services $1,292 · management and general $608
11c · Fees: accounting

total $51,235 · management and general $51,235
11f · Fees: investment management

total $3,488 · management and general $3,488
11g · Fees: other

total $420,222 · program services $394,028 · management and general $22,698 · fundraising $3,496
12 · Advertising and promotion

total $160,922 · program services $159,663 · fundraising $1,259
13 · Office expenses

total $36,124 · program services $33,674 · management and general $2,148 · fundraising $302
17 · Travel

total $12,562 · program services $12,436 · management and general $126
22 · Depreciation, depletion and amortization

total $219,563 · program services $219,563
23 · Insurance

total $124,234 · program services $110,568 · management and general $13,666
24a · Other expenses: ENTERTAINMENT

total $644,805 · program services $641,903 · fundraising $2,902
24b · Other expenses: FOOD

total $140,104 · program services $133,099 · management and general $5,604 · fundraising $1,401
24c · Other expenses: MAINTENANCE AND REPAIRS

total $125,902 · program services $92,802 · management and general $33,100
24d · Other expenses: DUES AND SUBSCRIPTIONS

total $88,194 · program services $50,762 · management and general $29,104 · fundraising $8,328
24e · All other expenses

total $318,454 · program services $224,373 · management and general $32,290 · fundraising $61,791

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $4,175 · end of year $40,119
2 · Savings and temporary cash investments

beginning of year $4,102,515 · end of year $2,231,077
3 · Pledges and grants receivable

beginning of year $1,814,570 · end of year $620,503
4 · Accounts receivable

beginning of year $440,500 · end of year $727,204
8 · Inventories for sale or use

beginning of year $136,578 · end of year $121,815
9 · Prepaid expenses and deferred charges

beginning of year $84,316 · end of year $168,080
10a · Land, buildings and equipment: cost or other basis

$17,885,727
10b · Land, buildings and equipment: accumulated depreciation

$3,022,465
10c · Land, buildings and equipment, net

beginning of year $12,254,522 · end of year $14,863,262
11 · Investments: publicly traded securities

beginning of year $701,237 · end of year $764,172
15 · Other assets

beginning of year $1,500 · end of year $1,500
17 · Accounts payable and accrued expenses

beginning of year $1,965,929 · end of year $333,230
19 · Deferred revenue

beginning of year $218,267 · end of year $230,998
27 · Net assets without donor restrictions

beginning of year $17,222,756 · end of year $18,766,815
28 · Net assets with donor restrictions

beginning of year $132,961 · end of year $206,689

Mission and programs · 2024

Mission

WE EXIST TO BENEFIT OUR COMMUNITY THROUGH EDUCATION, IMPACTFUL EXPERIENCES AND BY SHARING ACCESS TO MARITIME RESOURCES.

Activities or mission (Part I)

TO INSPIRE AND EDUCATE PEOPLE WITH ENGAGING AND INTERACTIVE EXPERIENCES THAT CELEBRATE OUR CONNECTIONS WITH TODAY'S MARITIME WORLD. THE NAUTICUS IS A CONTEMPORARY MUSEUM THAT USES THE NATURAL SETTING OF NORFOLK'S HARBOR TO SHOWCASE GLOBAL MARITIME COMMERCE AND THE WORLD'S LARGEST NAVY.

NAUTICUS IS A MARITIME DISCOVERY CENTER LOCATED ALONG THE WATERFRONT IN DOWNTOWN, NORFOLK OFFERING A UNIQUE FORM OF EXPERIENTIAL LEARNING FOR ALL AGES. THROUGH INTERACTIVE EXHIBITS AND STEM TO STERN PROGRAMMING, NAUTICUS USES THE MUSEUM, BATTLESHIP WISCONSIN, SAILING CENTER, AND SCHOONER VIRGINIA TO TELL THE STORY OF THE MARITIME ENVIRONMENT, INDUSTRY, AND THE MILITARY.

Expenses $3,714,734 · Revenue $2,708,058

As filed on the 2024 return.

Listed in Part VII

PAUL FRAIM

CHAIR

Total calculated

$0

Hours/week

1
JOHN REINHART

SECRETARY

Total calculated

$0

Hours/week

1
MARK HONECKER

TREASURER

Total calculated

$0

Hours/week

1
KELSEY HOST SARCONE

SECRETARY

Total calculated

$0

Hours/week

1
MARYELLEN BALDWIN

MEMBER

Total calculated

$0

Hours/week

1
JUDY BARRETT

MEMBER

Total calculated

$0

Hours/week

1
SARAH BEASLEY

MEMBER

Total calculated

$0

Hours/week

1
WHITING CHISMAN

MEMBER

Total calculated

$0

Hours/week

1
ROBERT CLARK

MEMBER

Total calculated

$0

Hours/week

1
WILLIAM CROW

MEMBER

Total calculated

$0

Hours/week

1
JONATHAN GALLO

MEMBER

Total calculated

$0

Hours/week

1
MIKE HOPKINS

MEMBER

Total calculated

$0

Hours/week

1
ELSPETH MCMAHON

MEMBER

Total calculated

$0

Hours/week

1
MATT WILBRICHT

MEMBER

Total calculated

$0

Hours/week

1
EDWARD WOLCOTT JR

MEMBER

Total calculated

$0

Hours/week

1
W CLARK TAYLOR

MEMBER

Total calculated

$0

Hours/week

1
CHRISTOPHER UITERWYK

MEMBER

Total calculated

$0

Hours/week

1
STEPHEN KIRKLAND

EXECUTIVE DIRECTOR

Total calculated

$0

Hours/week

20 + 20 related

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.

Schedule J

Answered yes

2 · Substantiation required before reimbursing expenses

Answered no

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 3: THE EXECUTIVE DIRECTOR IS EMPLOYED WITH THE CITY OF NORFOLK, A RELATED ORGANIZATION. THE EXECUTIVE DIRECTOR'S EMPLOYEE CONTRACT IS DESIGNATED BY THE CITY OF NORFOLK.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

CITY OF NORFOLK

LOCAL GOVERNMENT · VA

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 May 2026
IRS schema version: 2024v5.5
Source object: 202601359349310980

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