Historical Society of Martin County Inc

Nonprofit profile at a glance

EIN
590913326
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Stuart, FL, USA
Phone
7722251961
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,785,264
Expenses
$2,211,028
Assets
$12,899,645
Liabilities
$309,444

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

Leadership & pay

16 people listed

Executive titles in this filing

  • ROBERT STEELE (PRESIDENT &)

Highest reported compensation

  • ROBERT STEELE (PRESIDENT &): $151,164 total reported compensation

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

Overview

Mission

The mission of the elliott museum is to enrich the community through a wide variety of exhibits, collections, classes and lectures, all designed to serve the interests of the people who live in and visit the treasure coast.

What it reported doing in 2024

The organization served the public by managing two locations: the elliott museum and the house of refuge. At the elliott museum, guests enjoyed a variety of permanent exhibitions which include a foucault pendulum; large collection of antique vehicles, baseball memorabilia, local history, americana, local and fine art.changing exhibitions included the apollo 11 moon landing, pirates and an interactive exhibition of the human body.group tours and lecture series are hosted throughout the year. The house of refuge museum educates guests on the region's significant maritime heritage and the history of the us life saving service. Exhibitions include archeological and shipwreck materials.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 42
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.3%; rating input score 96
  • Program expense ratio: 69.9%; rating input score 70
  • Fundraising efficiency: $1.69 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -23.8%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 5.83; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: -1.1% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 96.3% of revenue deployed · 69.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $151K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Fundraising efficiency scored 5/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.