Sail Power and Steam Museum

Nonprofit profile at a glance

EIN
261473502
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2008
Location
Rockland, ME, USA
Phone
2075960200
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$704,267
Expenses
$704,048
Assets
$3,021,446
Liabilities
$292,385

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Diane R McIntosh (Executive Director)

Highest reported compensation

  • Diane R McIntosh (Executive Director): $67,500 total reported compensation

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

Overview

Mission

To celebrate, honor, experience, and share the story of Maine's maritime heritage.

What it reported doing in 2024

Many programs are designed to be affordable or free and open to the public. Programs feature local historical and maritime educators focused on interactive, experiential learning. Many exhibits are "hands on," with items that can be handled and experienced.Programs are available for schools (or home school students) that can be personalized for the interests and age group visiting.Heritage Tours have been developed for larger adult groups (cruise ships and tour buses) which annually educate thousands of out of state and local visitors in our unique maritime heritage and its influence on Maine and the Midcoast today.Rockland's Harbor Trail has been given an easement through our property which allows public (pedestrian) access along Rockland's working waterfront - an area which once housed the Snow Marine Shipyard, one of our nation's most prolific boatyards in its time.Speaker series have been designed for accessibility - both in person and online.

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.7%; rating input score 74
  • Program expense ratio: 70.2%; rating input score 70
  • Fundraising efficiency: $5.48 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 4.29; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 34.1% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 13.8% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 73.7% of revenue deployed · 70.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $494K in reported program spending
  • Leadership: top reported pay $68K · 13 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.