Overview
What is Mystic Seaport Museum Inc?
The Mystic Seaport Museum Inc, located at 75 Greenmanville Avenue, Mystic, Connecticut, 06355, is a renowned nonprofit organization that welcomes approximately 250,000 visitors annually. With a dedicated workforce of 274 employees, the museum provides a rich visitor experience through its departments, which include visitor services, exhibitions, interpretation, and public programs. These departments aim to educate and entertain by offering authentic experiences about America and the sea. The museum's mission is to inspire an enduring connection to the American maritime experience through knowledge, authenticity, inspiration, stewardship, and community. The organization's offerings include educational experiences, themed programs, activities, special events, and the research, design, production, and care of exhibits.
Official website here: www.mysticseaport.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 89% - Three-Star out of Four Star Rating
Mystic Seaport Museum Inc has achieved a commendable rating of 89% from Charity Navigator, indicating a strong performance in accountability and finance. The organization has demonstrated a solid structure with 96% of its board members being independent, which suggests a commitment to transparency and governance. It maintains a robust audit process, has no material diversion of assets, and adheres to essential policies such as conflict of interest and whistleblower protections.
The financial metrics also reflect positively on the museum, with a low liabilities to assets ratio of 8.49%, indicating financial stability. However, while the program expense ratio stands at 64.55%, there may be room for improvement in maximizing funds directly supporting its programs. Overall, the organization appears to be well-managed with a focus on accountability, although there could be efforts to further increase the percentage of funds allocated to programmatic work.
This AI summary has been generated from information found on Charity Navigator.
Is Mystic Seaport Museum Inc legitimate?
Mystic Seaport Museum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mystic Seaport Museum Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $630,347
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,312,083
For more financial information, click here
Official website here: www.mysticseaport.org
What is the mission statement of Mystic Seaport Museum Inc?
Mystic Seaport Museum Inc inspires an enduring connection to the American maritime experience through various means. The museum attracts 250,000 visitors annually and offers engaging experiences for them. Departments like Visitor Services, Exhibitions, Interpretation, and Public Programs welcome visitors, showcasing America's relationship with the sea. Research, design, and production teams create and care for exhibits, providing educational and illustrative content. Seasonal and themed programs, activities, and special events round off the offerings.
Official website here: www.mysticseaport.org
Who is the CEO of Mystic Seaport Museum Inc?
Peter Armstrong is the CEO of Mystic Seaport Museum Inc The CEO's salary of Mystic Seaport Museum Inc is $301,685 and their total compensation is $341,441.
Official website here: www.mysticseaport.org
What is the revenue of Mystic Seaport Museum Inc?
Mystic Seaport Museum Inc's revenue in 2023 was $19,385,477.
Official website here: www.mysticseaport.org
Who are the executives of Mystic Seaport Museum Inc and what are their salaries?
The average compensation at Mystic Seaport Museum Inc during 2023 was $27,165. There are 366 employees and 337 volunteers at Mystic Seaport Museum Inc.
Here are 42 key members and their salaries (Mystic Seaport Museum Inc's CEO's salary is $301,685 and their total compensation is $341,441):
- Compensation: $301,685
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- Compensation: $153,765
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- Compensation: $135,347
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- Other: $26,180
Official website here: www.mysticseaport.org
Where can I find the form 990 for Mystic Seaport Museum Inc?
Mystic Seaport Museum Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mysticseaport.org
Learn more at the official website: www.mysticseaport.org
Mission Statement of Mystic Seaport Museum Inc
Mystic Seaport Museum Inc, a renowned nonprofit organization, dedicates itself to fostering an enduring connection to the American maritime experience. Through its commitment to knowledge, authenticity, inspiration, stewardship, and community, the museum strives to captivate and educate visitors about the rich history of America and the sea.
The museum welcomes over 250,000 visitors annually, extending a warm invitation to explore its diverse offerings. Departments such as Visitor Services, Exhibitions, Interpretation, and Public Programs cater to the needs of guests, ensuring an engaging and informative experience. The organization also delves into research, design, production, and care for exhibits, providing visitors with educational and illustrative experiences. In addition, Mystic Seaport Museum Inc offers a range of seasonal and themed programs, activities, and special events that cater to various interests.
By weaving together the threads of history, culture, and maritime tradition, Mystic Seaport Museum Inc succeeds in inspiring a profound sense of connection to the American maritime experience. Its dedication to authenticity and stewardship ensures that the stories of the past are preserved and passed down to future generations, fostering a deeper understanding and appreciation for America's maritime heritage.
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Impact
October, 2024
Mystic Seaport Museum Inc. plays a significant role in fostering an enduring connection to the American maritime experience. It attracts approximately 250,000 visitors annually, offering a rich visitor experience through various departments, including visitor services, exhibitions, and public programs. These elements work together to create educational and illustrative experiences that highlight the historical and cultural significance of America's maritime heritage.
The museum excels in research, design, and care for exhibits, ensuring that the stories and artifacts of the sea are preserved and shared authentically. Seasonal and themed programs, activities, and special events further enhance visitor engagement, providing dynamic opportunities to explore maritime history.
By embodying principles of knowledge, authenticity, inspiration, stewardship, and community, Mystic Seaport Museum effectively communicates the importance of maritime culture, enriching the lives of visitors and contributing to the understanding of America’s relationship with the sea.
This information is meant to be a general summary of Mystic Seaport Museum Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,415,528
- Program Service Revenue: $6,631,004
- Gross Receipts: $30,280,845
Assets and Liabilities:
- Total Assets: $107,691,888
- Total Liabilities: $9,749,252
- Net Assets: $97,942,636
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GATE ADMISSIONS
Revenue
$3,434,045
PROGRAM FEES
Revenue
$3,163,058
SALES OF PUBLISHED MATERIALS
Revenue
$33,901
Organization Details
Founding Year
1929
Principal Officer
Peter Armstrong
Website
www.mysticseaport.orgNTEE Category
Code: A500 - Arts
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