The Connecticut River Foundation at Steamboat Dock Inc

What it reported doing in 2024

Museum programs the Connecticut river museum is situated on a riverfront property in essex, Connecticut upon which are three historic buildings housing exhibition galleries, a research library, a museum shop, meeting/education program space and administrative offices. Along our bulkhead riverfront are docks to which are moored three vessels. We serve a broad and diverse audience numbering 31,000 in 2024, by providing unique programs on land, online and on the water. The museum offers a robust array of exhibitions and public programs throughout the year inspired by our collection, the river's storied history and our location. Inside our historic museum building (built in 1878 as a warehouse and store serving the steamboat trade between hartford and New York until 1931) are two permanent galleries which include fine art, artifacts, and interactive displays. On the first floor visitors enjoy a working replica of the first submarine, the turtle, wherein visitors may experience close quarters and the idea of being submerged. The second floor explores the industrial revolution and steamboat era. Special exhibitions on our third floor explore maritime history, enviromental issues, and fine art engagingvisitors of all ages.tell stories about the river that may be unfamiliar but nonetheless engaging for visitors of all ages. In 2024, the museum curatored "getting there" which explored navigation before gps. With hands-on elements and fine-art, this exhibitreceived an award of merit from the Connecticut league of museums. Outside on our lawns and docks, visitors may attend numerous events such as the burning of the ships (remembering the british raid on essex in 1814); conquer the current (a 10 -mile paddle race from haddam to essex); trees in the rigging a town-wide holiday celebration; and, live musical programs such as shanties and sails and thursdays on the dock. The museum is staffed by full-time and part- time professionals, plus seasonal boat crew, and is governed by up to 23 trustees. In addition upwards of 40 additional volunteers provide dedicated service across a broad array of needed skills.

Financial Efficiency

• Mission deployment rate: 79.5%; rating input score 79
• Program expense ratio: 72.1%; rating input score 72
• Fundraising efficiency: $3.45 raised per $1 spent on fundraising; rating input score 11; 11th 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: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • 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: 7.2%; rating input score 55; 55th percentile among comparable filings
• Total-asset coverage ratio: 5.54; rating input score 86; 86th percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
• Officer compensation ratio: 8.3%; rating input score 43; 43rd percentile among comparable filings

Growth

• Program expense growth: 1.3% per year; rating input score 100; 23rd percentile among comparable filings
• Revenue growth: 1.2% per year; rating input score 100; 20th percentile among comparable filings
• Asset growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings