The Antique Boat Museum
Nonprofit profile at a glance
- EIN
- 222319606
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Clayton, NY, USA
- Phone
- 3156864104
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Science and Technology Museums
Reported finances
- Revenue
- $5,024,751
- Expenses
- $2,402,984
- Assets
- $24,908,728
- Liabilities
- $1,458,420
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- REBECCA HOPFINGER (EXECUTIVE DIRECTOR)
Highest reported compensation
- REBECCA HOPFINGER (EXECUTIVE DIRECTOR): $141,316 total reported compensation
- STEPHANIE ENGHUSEN (CONTROLLER): $96,743 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 collect, preserve, interpret and celebrate boats and related artifacts to advance public understanding of the importance of boating to the cultural history of north america and the st. Lawrence river in particular.
What it reported doing in 2024
The mission of the antique boat museum is stated in item 1 of part iii above. The antique boat museum was founded more than 50 years ago and currently occupies a 4.5 acre waterfront campus in clayton, New York. Its facilities include ten buildings providing a total of 29,000 square feet of exhibition space and 33,000 square feet of public programming, collection, storage, archives, library and administrative space. In addition, the antique boat museum has two additional off-site storage locations, with a 20,000 square foot boat storage facility located on east line road in clayton and a complex of 13,000 square feet at bartlett point, both of which are a short distance from the main campus. The antique boat museum currently has the largest collection of fresh water boats in north america and attracts approximately 30,000 visitors each year. Through public programs, the vast collection, exhibits, events and the antique boat museum's educational programming and outreach, it provides a connection not only within the community, but between the community and visitors to the region. This provides a foundation for understanding and appreciating the rich history of boating and boating's place in the development of the region and the country whether for commercial, public or personal purposes. This history includes the stories and cultures of the people who designed, built, owned, sailed and maintained these vessels from the earliest times to the present day. The three largest program services in terms of expense are collections and exhibits $748,753; maintenance and operations $383,572; and education $217,064.
Operating model
- Revenue model
- Donor-supported. 68% 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 program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 56
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 82
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 41.9%; rating input score 42
- Program expense ratio: 74.3%; rating input score 74
- Fundraising efficiency: $42.79 raised per $1 spent on fundraising; rating input score 76; 76th 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: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 52.2%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 10.37; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 9.9%; rating input score 30; 30th percentile among comparable filings
Growth
- Program expense growth: -0.5% per year; rating input score 0; 12th percentile among comparable filings
- Revenue growth: -0.7% per year; rating input score 0; 9th percentile among comparable filings
- Asset growth: 1.9% per year; rating input score 100; 19th percentile among comparable filings
Details
- Where the money goes: 41.9% of revenue deployed · 74.3% of spending went to programs
- Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.8M in reported program spending
- Leadership: top reported pay $141K · 19 people listed
- Consistency: 29 of 29 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 11 filing years from 2012 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 30/100.