Museum Of Yachting Inc The in Newport, Rhode Island (RI)
Table of contents:
- Overview
- Detailed Reports
- Statements Regarding Other IRS Filings and Tax Compliance
- Statement of Revenue
- Statement of Functional Expenses
- Balance Sheet
- Reason for Public Charity Status
- Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
- Unrelated Trade or Business Income
- Deductions Not Taken Elsewhere
- Organizations performing similar types of work
| Museum Of Yachting Inc The | |
| Employer Identification Number (EIN) | 050387774 |
| Name of Organization | Museum Of Yachting Inc The |
| Address | 449 Thames St Unit 111, Newport, RI 02840-6750 |
| Activities | Museum, zoo, planetarium, etc., Library |
| Subsection | Charitable Organization |
| Ruling Date | 08/1980 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Tax Period | 06/2012 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $365,274 |
| Amount of Income | $314,774 |
| Form 990 Revenue Amount | $-165,562 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Museum, Museum Activities |
Non-representatives - add comments:
Amount of income in 2012: $314,774 (it was $61,264 in 2011)
| Museum Of Yachting Inc The: | $314,774 |
| Other organizations performing similar types of work: | $433,282 |
Assets in 2012: $365,274 (it was $715,461 in 2011)
| Museum Of Yachting Inc The: | $365,274 |
| Other organizations performing similar types of work: | $1,224,023 |
Expenses in 2012: $209,798
| This organization: | $209,798 |
| Other organizations performing similar types of work: | $338,913 |
Income to expenses ratio in 2012: 1.5
| This organization: | 1.5 |
| Other organizations performing similar types of work: | 1.5 |
Number of employees in 2012: 4
| This organization: | 4 |
| Other organizations performing similar types of work: | 9 |
Grants share in income in 2012: -65.2%
| Museum Of Yachting Inc The: | -65.2% |
| Other organizations performing similar types of work: | 70.6% |
Functional expenses for 2012
Support schedule
| Statements Regarding Other IRS Filings and Tax Compliance (for 2012) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2012) | |
| Total revenue | $-165,562 |
| Contributions, Gifts, Grants and Other Similar Amounts | $107,888 |
| Program Service Revenue | $48,820 |
| Other Revenue | |
| Investment income (including dividends, interest, and other similar amounts) | $481 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $17,500 |
| Gross rents (Real / Personal) | $17,500 / $0 |
| Less: rental expenses (Real / Personal) | $0 / $0 |
| Rental income or (loss) (Real / Personal) | $17,500 / $0 |
| Net loss from sales of assets other than inventory | $-320,324 |
| Gross amount from sales of assets other than inventory (Securities / Other) | $0 / $105,000 |
| Less: cost or other basis and sales expenses (Securities / Other) | $324 / $425,000 |
| Gain or (loss) (Securities / Other) | $-324 / $-320,000 |
| Net loss from fundraising events | $-22,093 |
| Gross income from fundraising events | $32,919 |
| Less: direct expenses | $55,012 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $0 |
| Miscellaneous Revenue | $2,166 |
| Statement of Functional Expenses (for 2012) | |
| Total functional expenses | $209,798 |
| Compensation of current officers, directors, trustees, and key employees | $0 |
| Other salaries and wages | $70,238 |
| Payroll taxes | $1,836 |
| Professional fundraising services | $0 |
| Other | $137,724 |
| Balance Sheet (for 2012) | |
| Total assets | $365,274 |
| Total liabilities | $244,377 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $0 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $244,377 |
| Total net assets or fund balances | $120,897 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Reason for Public Charity Status (for 2012) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012) | |
| 2008 - 2012 Total | |
|---|---|
| Total Support | $931,565 |
| Gifts, grants, contributions, and membership fees received | $780,684 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $150,881 |
| Gross receipts from related activities, etc. | $104,929 |
| Unrelated Trade or Business Income (for 2008) | |||
| Income | Expenses | Net | |
|---|---|---|---|
| Total | $3,093 | $0 | $3,093 |
| Gross receipts or sales less returns and allowances | $4,624 | $0 | $0 |
| Cost of goods sold | $15,311 | $0 | $0 |
| Gross profit | $3,093 | $0 | $3,093 |
| Capital gain net income | $0 | $0 | $0 |
| Net gain | $0 | $0 | $0 |
| Capital loss deduction for trusts | $0 | $0 | $0 |
| Income (loss) from partnerships and S corporations | $0 | $0 | $0 |
| Rent income | $0 | $0 | $0 |
| Unrelated debt-financed income | $0 | $0 | $0 |
| Interest, annuities, royalties, and rents from controlled organizations | $0 | $0 | $0 |
| Investment income of a section 501(c)(7), (9), or (17) organization | $0 | $0 | $0 |
| Exploited exempt activity income | $0 | $0 | $0 |
| Advertising income | $0 | $0 | $0 |
| Other income | $0 | $0 | $0 |
| Deductions Not Taken Elsewhere (for 2008) | |
| Total deductions | $4,771 |
| Compensation of officers, directors, and trustees | $0 |
| Salaries and wages | $0 |
| Repairs and maintenance | $0 |
| Bad debts | $0 |
| Interest | $0 |
| Taxes and licenses | $0 |
| Charitable contributions | $0 |
| Depreciation | $0 |
| Depletion | $0 |
| Contributions to deferred compensation plans | $0 |
| Employee benefit programs | $0 |
| Excess exempt expenses | $0 |
| Excess readership costs | $0 |
| Other deductions | $4,771 |
| Unrelated business taxable income | $1,678 |
| Unrelated business taxable income before net operating loss deduction | $1,678 |
| Net operating loss deduction | $0 |
| Unrelated business taxable income before specific deduction | $1,678 |
| Specific deduction | $1,000 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Smith Museum Of Stained Glass Windows And American Art | 20 N Wacker Drive, Chicago, IL 60606-2806 | IL | 1994-05 | $838,665 |
| 2 | Witte Museum | 3801 Broadway St, San Antonio, TX 78209-6309 | TX | 1932-11 | $20,214,005 |
| 3 | Studio Museum In Harlem Inc | 144 W 125th Street, New York, NY 10027-4423 | NY | 1967-11 | $11,364,824 |
| 4 | Southwest Dairy Museum Inc | 1210 Houston St, Sulphur Spgs, TX 75482-2310 | TX | 1983-11 | $8,689,664 |
| 5 | Uss Constitution Museum Inc | PO BOX 291812, Charlestown, MA 02129-0215 | MA | 1973-01 | $8,440,275 |
| 6 | Yankee Air Force Incorporated | PO BOX 590, Belleville, MI 48112-0590 | MI | 1982-02 | $4,557,797 |
| 7 | Vesterheim Norwegian American Museum | PO BOX 379, Decorah, IA 52101-0379 | IA | 1965-04 | $3,540,724 |
| 8 | Vanderbilt Museum Suffolk County Commission | 180 Little Neck Rd, Centerport, NY 11721-1145 | NY | 1963-03 | $3,401,225 |
| 9 | Sherwin Miller Museum Of Jewish Art Inc, Fenster General Fund | 2021 E 71st St, Tulsa, OK 74136-5408 | OK | 1968-08 | $3,372,784 |
| 10 | Stamford Museum And Nature Center Incorporated | 39 Scofieldtown Rd, Stamford, CT 06903-4023 | CT | 1952-04 | $3,231,146 |
| 11 | Staten Island Institute Of Arts And Sciences | 75 Stuyvesant Pl, Staten Island, NY 10301-1912 | NY | 1940-06 | $3,136,665 |
| 12 | Wheelwright Museum Of The American Indian | PO BOX 5153, Santa Fe, NM 87502-5153 | NM | 1943-10 | $2,458,268 |
| 13 | Whatcom Museum Foundation | 121 Prospect St, Bellingham, WA 98225-4401 | WA | 1982-12 | $2,455,092 |
| 14 | The Museum Of The African Diaspora | 685 Mission St, San Francisco, CA 94105-4126 | CA | 2000-02 | $2,274,413 |
| 15 | San Francisco Maritime National Park Association | PO BOX 470310, San Francisco, CA 94147-0310 | CA | 1952-01 | $2,246,123 |
| 16 | Whaling Museum Society Inc | 279 Main St, Cold Spg Hbr, NY 11724-1438 | NY | 1947-10 | $2,101,040 |
| 17 | Powerhouse Science Center | 3615 Auburn Blvd, Sacramento, CA 95821-2007 | CA | 1995-01 | $2,006,185 |
| 18 | Thronateeska Heritage Foundation Inc | 100 W Roosevelt Ave, Albany, GA 31701-2325 | GA | 1976-05 | $2,005,947 |
| 19 | Museum Of Yachting Inc The | 449 Thames St Unit 111, Newport, RI 02840-6750 | RI | 1980-08 | $314,774 |
| 20 | New England Wireless & Steam Museum | 1300 Frenchtown Rd, E Greenwich, RI 02818-1309 | RI | 1967-04 | $100,616 |
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