Captain Forbes House Museum

Nonprofit profile at a glance

EIN
046516086
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Milton, MA, USA
Phone
6176961815
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$990,832
Expenses
$525,063
Assets
$3,979,961
Liabilities
$814,368

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Highest reported compensation

  • Heidi Vaughan (Executive Dir.): $68,254 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Inspired by the Forbes family legacy of entrepreneurship, social action and philanthropy, the Forbes House Museum fosters discourse around civic engagement and cultural awareness.

What it reported doing in 2024

Educational programs, exhibitions and events. the Museum is open to thepublic for viewing and tours creating a new education center for thecommunity.

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 22
  • Transparency & Controls: 82
  • Accountability: 95
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.5%; rating input score 19
  • Program expense ratio: 24.1%; rating input score 24
  • Fundraising efficiency: $7 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 86.7%; rating input score 87; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 47%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 7.58; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 9.6% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 18.5% of revenue deployed · 24.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $126K in reported program spending
  • Leadership: top reported pay $68K · 15 people listed
  • Consistency: 25 of 27 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 19/100.
  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.