Overview
What is The Steamer Virginia V Foundation?
The Steamer Virginia V Foundation is a nonprofit organization based in Seattle, Washington. Their primary focus is the restoration and preservation of the National Historic Landmark vessel, Steamer Virginia V, the largest operational wooden steamboat in the United States. The foundation carries out this mission through various activities, including public events, education programs, and private charters. In 2022, they underwent significant renovations, replacing decayed wood, installing new structural timbers, and reefing and re-caulking hull seams. They also completed engineering projects, such as installing an isolation transformer and tankless hot water heater. The foundation's efforts are supported by a team of 10 employees and over 1,700 volunteer hours. In addition to their operational activities, they also accrued capital expenditures and performed routine maintenance and repairs.
Official website here: www.virginiav.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
The Steamer Virginia V Foundation has received a solid rating of 77%, which indicates a strong commitment to accountability and finance. The score reflects a comprehensive evaluation based on a single beacon focused on financial transparency and governance. This level of accountability is crucial for ensuring that donations are managed effectively and that the organization operates with integrity.
The foundation boasts a fully independent board, which contributes positively to its governance structure. Additionally, the organization demonstrates good practices in various areas, such as having no material diversion of assets and maintaining a low liabilities to assets ratio of 12.29%. This suggests that the foundation is managing its resources prudently and is positioned well to fulfill its mission.
One potential area for improvement could be the diversification of funding sources, as no additional details on revenue streams were provided. However, the high program expense ratio of 84.47% indicates a significant portion of expenditures is directed toward fulfilling the foundation's mission, which is a positive sign for potential donors. Overall, the Steamer Virginia V Foundation displays strong accountability and efficient use of funds.
This AI summary has been generated from information found on Charity Navigator.
Is The Steamer Virginia V Foundation legitimate?
The Steamer Virginia V Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Steamer Virginia V Foundation 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: $72,754
Professional Fundraising Fees: $0
Other Salaries and Wages: $64,286
For more financial information, click here
Official website here: www.virginiav.org
What is the mission statement of The Steamer Virginia V Foundation?
The Steamer Virginia V Foundation's mission revolves around the restoration, preservation, operation, and interpretation of the National Historic Landmark vessel Steamer Virginia V. This is the largest operational wooden steamboat in the United States. The vessel serves multiple purposes, including hosting public events, education programs, and providing opportunities for private charters. The foundation's primary goal is to ensure the vessel's continued operation while also offering educational experiences to the public. The foundation invests significant resources into maintaining and renovating the ship, as demonstrated by the 16-1/2 months spent in drydock for structural renewals in 2022. Additionally, the foundation conducts various activities to keep the vessel in optimal condition, such as weekly work parties by volunteers and employees and the installation of protective measures like an isolation transformer and tankless hot water heater.
Official website here: www.virginiav.org
What is the revenue of The Steamer Virginia V Foundation?
The Steamer Virginia V Foundation's revenue in 2023 was $459,979.
Official website here: www.virginiav.org
Who are the executives of The Steamer Virginia V Foundation and what are their salaries?
The average compensation at The Steamer Virginia V Foundation during 2023 was $12,458. There are 11 employees and 60 volunteers at The Steamer Virginia V Foundation.
Here are 10 key members and their salaries:
- Compensation: $63,763
- Related: $0
- Other: $0
- Compensation: $18,001
- Related: $0
- Other: $0
- Compensation: $8,991
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.virginiav.org
Where can I find the form 990 for The Steamer Virginia V Foundation?
The Steamer Virginia V Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.virginiav.org
Learn more at the official website: www.virginiav.org
Mission Statement of The Steamer Virginia V Foundation
The Steamer Virginia V Foundation is dedicated to the restoration, preservation, operation, and interpretation of the National Historic Landmark vessel Steamer Virginia V, which is recognized as the largest operational wooden steamboat in the United States. This nonprofit organization utilizes the vessel for public events, education programs, and private charters, serving as a unique and significant cultural asset.
Throughout the year, the foundation embarks on various restoration and preservation projects, such as replacing decayed wood and installing new sections of planking, clamps, and frames. The hull seams are carefully reefed and re-caulked, while the hull and exterior of the deck house are repainted. Additionally, engineering improvements are made, like installing an isolation transformer and tankless hot water heater, ensuring the vessel's protection and safety. The foundation also conducts regular maintenance and repairs, adhering to a 5-year Planned Maintenance Schedule.
The Steamer Virginia V Foundation's mission extends beyond the vessel, as they also engage in educational programs for the public. These programs provide an opportunity for individuals to learn about the history and significance of the steamboat and its role in American maritime culture. The vessel serves as a living testament to the past, while also offering a unique and enjoyable experience through public events and private charters. The foundation's efforts in preserving and maintaining the Steamer Virginia V contribute to the appreciation and understanding of maritime history, ensuring its legacy for future generations.
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Impact
July, 2024
The Steamer Virginia V Foundation's impact is significant in the restoration, preservation, operation, and interpretation of the National Historic Landmark vessel Steamer VIRGINIA V. The foundation works tirelessly to ensure the maintenance and integrity of this incredible piece of maritime history, the largest operational wooden steamboat in the United States. Through their efforts, the vessel is able to participate in public events, education programs, and private charters, enriching the community with the opportunity to engage with and learn about this unique part of our heritage. The recent restoration work, including structural renewals to the hull and various upgrades, demonstrates the foundation's commitment to preserving this piece of history for future generations to enjoy.
This information is meant to be a general summary of The Steamer Virginia V Foundation. 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: $1,796
- Program Service Revenue: $224,732
- Gross Receipts: $478,217
Assets and Liabilities:
- Total Assets: $2,513,331
- Total Liabilities: $308,949
- Net Assets: $2,204,382
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Vessel charters
Revenue
$154,971
Public event ticket sales
Revenue
$59,761
Interpretation/Education Programs
Revenue
$10,000
Organization Details
Founding Year
1976
Principal Officer
Alicia Barnes
Website
www.virginiav.orgNTEE Category
Code: A82Z - Arts
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