Overview
What is Hydroplane And Raceboat Museum?
The Hydroplane and Raceboat Museum, situated in Kent, Washington, is a nonprofit organization dedicated to preserving and showcasing historical items related to boat racing. With a team of five dedicated individuals, the museum's primary objective is to educate the public about the rich history of boat racing. The museum serves as a sanctuary for various artifacts, ensuring they are well-maintained to offer an engaging experience for visitors. The mission of the museum encompasses both preservation and education, fostering a deeper appreciation for the thrilling world of boat racing.
Official website here: www.thunderboats.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
The Hydroplane and Raceboat Museum has received a solid Three-Star rating, indicating a fair level of accountability and transparency in its operations. The organization has achieved a high score in various aspects, such as having a fully independent board of members and no material diversion of assets. This demonstrates a commitment to proper governance and responsible financial practices.
Strengths of the museum include excellent program expense ratios at 82.04%, reflecting a strong focus on its mission and initiatives. The organization's comprehensive policies, such as those regarding conflicts of interest and whistleblower protections, further enhance its credibility and trustworthiness among donors and stakeholders.
While the museum has demonstrated robust operational practices, the overall score of 77% suggests there is room for improvement in certain areas. Continued efforts to enhance transparency and effectiveness could help elevate its rating further and strengthen its impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Hydroplane And Raceboat Museum legitimate?
Hydroplane And Raceboat Museum is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hydroplane And Raceboat Museum 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: $66,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $80,988
For more financial information, click here
Official website here: www.thunderboats.org
What is the mission statement of Hydroplane And Raceboat Museum?
The Hydroplane and Raceboat Museum is dedicated to preserving the rich history of boat racing and enlightening the public about it. Their mission is twofold: preserving historical artifacts related to boat racing and educating the public about this exciting sport. To achieve this, they maintain a museum facility where these items are meticulously preserved and displayed, allowing visitors to appreciate and learn from them. The museum serves as a valuable resource, providing an insight into the evolution of boat racing and its impact on culture and society.
Official website here: www.thunderboats.org
Who is the CEO of Hydroplane And Raceboat Museum?
David Williams is the Executive Director of Hydroplane And Raceboat Museum.
Official website here: www.thunderboats.org
What is the revenue of Hydroplane And Raceboat Museum?
Hydroplane And Raceboat Museum's revenue in 2022 was $538,775.
Official website here: www.thunderboats.org
Who are the executives of Hydroplane And Raceboat Museum and what are their salaries?
The average compensation at Hydroplane And Raceboat Museum during 2022 was $29,398. There are 5 employees and 75 volunteers at Hydroplane And Raceboat Museum.
Here are 11 key members and their salaries:
- Compensation: $66,000
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Official website here: www.thunderboats.org
Where can I find the form 990 for Hydroplane And Raceboat Museum?
Hydroplane And Raceboat Museum's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thunderboats.org
Learn more at the official website: www.thunderboats.org
Mission Statement of Hydroplane And Raceboat Museum
The Hydroplane and Raceboat Museum is dedicated to the preservation of boat racing history and the enlightenment of the public. Its primary mission is to safeguard and showcase historical items related to boat racing, offering the public an engaging and educational experience. To fulfill this mission, the museum meticulously maintains its facility, ensuring that these valuable artifacts are preserved and available for public appreciation. By offering a glimpse into the past of this thrilling sport, the museum serves as a vital resource for both enthusiasts and those seeking to learn about this fascinating aspect of maritime culture.
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Impact
July, 2024
The Hydroplane And Raceboat Museum's impact lies in its preservation of the history of boat racing and education of the public. Through its activities, the museum maintains a facility that houses historical items related to boat racing for the public to enjoy. This preservation work helps in keeping alive the heritage and traditions of boat racing, while also offering educational opportunities for visitors to learn about this unique aspect of maritime history. By showcasing these historical items and providing educational resources, the museum plays a crucial role in enriching the understanding and appreciation of boat racing in the community and beyond.
This information is meant to be a general summary of Hydroplane And Raceboat Museum. 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 2022.
- Investment Income: $3
- Program Service Revenue: $99,656
- Gross Receipts: $666,363
Assets and Liabilities:
- Total Assets: $2,760,598
- Total Liabilities: $582,450
- Net Assets: $2,178,148
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BOAT DISPLAY FEES
Revenue
$62,278
BOAT RESTORATION
Revenue
$37,378
PROFESSIONAL SERVICE
Organization Details
Founding Year
1983
Phone
(206) 764-9453Principal Officer
David Williams
Main Address
5917 SOUTH 196TH STREET, KENT, WA, 98032
Website
www.thunderboats.orgNTEE Category
Code: A500 - Arts
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