Wisconsin Maritime Museum Inc

Nonprofit profile at a glance

EIN
391128473
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Manitowoc, WI, USA
Phone
9206840218
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$1,482,867
Expenses
$1,417,481
Assets
$5,265,641
Liabilities
$413,280

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

Leadership & pay

15 people listed

Executive titles in this filing

  • THOMAS GRIESBACH (VICE PRESIDENT)
  • JEFF SABEL (PRESIDENT)
  • CATHERINE GREEN (PAST EXECUTIVE DIRECTOR)
  • KEVIN CULLEN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KEVIN CULLEN (EXECUTIVE DIRECTOR): $81,451 total reported compensation
  • CATHERINE GREEN (PAST EXECUTIVE DIRECTOR): $42,782 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 Wisconsin maritime museum connects all people with Wisconsin's waterways, by engaging and educating the public about Wisconsin's maritime history, Wisconsin's world war ii submarines, uss cobia, and the great lakes. The Wisconsin maritime museum shares this rich heritage by collecting and preserving artifacts and archival materials, creating interactive exhibits, promoting research, and presenting educational programs. A forum for information about the great lakes, this privately funded museum is one of the leading maritime museums on the great lakes.

What it reported doing in 2024

The wmm collections department was busy in 2024. Standing bi-monthly collections committee meetings took place and numerous artifacts were accepted into the permanent collection. Exterior and interior building renovations at the museum's maritime heritage center continue, with over $500,000 invested thus far. In the years to come, this center will house a museum-quality storage facility, conservation lab, teaching space, and boat restoration lab, and enhanced museum behind the scenes responsibilities. Partnerships with educational institutions are increasing along with fundraising efforts to complete the renovation phases of the 25,000 square foot facility. Several new and updated exhibits were designed and installed in 2024 using artifacts from the museum's collection, along with loaned objects. These temporary and permanent exhibits included: Wisconsin's shipwreck coasts, turning the tide of wwii, water dance: plein air art, iceboating: a Wisconsin tradition, tiny art show.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 57
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57%; rating input score 57
  • Program expense ratio: 51.3%; rating input score 51
  • Fundraising efficiency: $5.19 raised per $1 spent on fundraising; rating input score 18; 18th 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: 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.4%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 3.71; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 57% of revenue deployed · 51.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $727K in reported program spending
  • Leadership: top reported pay $81K · 15 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.