The Bannermans Castle Trust Inc

What it reported doing in 2024

The Organization? s ongoing education programs include the following projects: free slide shows with lectures, distribution of literature on Bannerman history, publication of a newsletter, maintenance of a website, a Facebook page, an Instagram page, and newspaper and radio interviews. A Visitor Center/Gallery in Beacon, NY features the work of the Hudson River Valley painters and photographers. Educational material is distributed for free and is also available for sale. Historical artifacts are also on view. Volunteers maintain and make improvements to the gardens on the island, as well as to the trails. Local businesses and the public provide materials for the gardens. Volunteers also assist with the kayak tours and fundraising events. A paid employee provides security and trail maintenance on the island during the May to October period. An annual fundraising event on the island is a gourmet dinner with donated services from the Chef? s Consortium. Theatrical performances and classic movies are also offered occasionally. With permission from NYSOPRHP, the Organization facilitates guided tours on the island for the public. The ? onisland? guided tours are 2 ? hours with a history lecture and question and answer sessions. Once a month, selfguided tours include live performances by local musicians. In 2024 the historical structure ? Stop Rest Bench? was completely restored with approval from State Historic Preservation Offices (SHPO), and dedicated in Memoriam to the Trust? s great friend Eleanor Owen Seeland who lived on the island as a child. A new window was installed at the entrance to the Bannerman Residence in honor of Roberta Atkins Reed and Marguerite Atkins Cassell. A new 30? by 30? outdoor classroom deck was completed along with stair repairs and a new concrete section to the North Trail that included railings. A new 40? x 10? floating dock for the island was installed for the Estuary Steward to land on Bannerman Island. This work was performed with 2024 funding of $107,000 from the Parks and Trails New York (https://ptny.org). The BCT provided a 10% match. 2024 marked the 30 Year Anniversary of the incorporation of the Bannerman's Castle Trust. The Trust celebrated this milestone with the renovation of its Beacon, NY Main Street Gallery, highlighting the history of Bannerman Island, and the Bannerman Castle Trust alongside contemporary and historical artworks. Of note is Frank Bannerman VI's 501 Broadway desk which was gifted to the Trust by the Bannerman-Betts-Colby family, and was fully restored by the Trust in 2024. The desk is currently on display with other Bannerman artifacts in the Bannerman Island Gallery through the end of 2025. The Gallery is located at 150 Main Street, Beacon, NY. In 2024 the Organization continued its popular Bannerman Island Tours on Friday, Saturday and Sunday from May - October 31. BCT presented 2 fundraising dinners, The Titanic Dinner on May 25 and the Chef's Farm to Table Dinner on September 7. Theatrical performances include the musical Always? Patsy Cline, Driving Miss Daisy and Dracula. There were 6 Third Sunday Music Concerts and 9 movies throughout the season.

Financial Efficiency

• Mission deployment rate: 70.8%; rating input score 71
• Program expense ratio: 88.8%; rating input score 89
• Fundraising efficiency: $554.14 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 19th 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 7 controls in place; rating input score 14
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Fail
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 20.5%; rating input score 77; 77th percentile among comparable filings
• Total-asset coverage ratio: 1.62; rating input score 58; 58th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 68; 68th percentile among comparable filings
• Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

• Program expense growth: 18.2% per year; rating input score 100; 80th percentile among comparable filings
• Revenue growth: 18.4% per year; rating input score 100; 84th percentile among comparable filings
• Asset growth: 17.9% per year; rating input score 100; 78th percentile among comparable filings