Overview
What is Foss Waterway Seaport?
Foss Waterway Seaport, situated in Tacoma, Washington, serves as a vibrant maritime heritage, education, and event center. Its primary function is to connect families, groups, and communities, offering them opportunities to explore, learn, work, and play. The seaport is housed in a century-old wooden wheat warehouse, a testament to Tacoma's rich maritime history, where cargo was once transported by rail and sail ("where rails meet sails"). The center features maritime heritage exhibits, a heritage boat shop, land- and boat-based education, event rental spaces, and guest boat moorage. With a mission to celebrate Tacoma's maritime legacy, the Foss Waterway Seaport aims to preserve and promote its past, present, and future, engaging a diverse community of visitors and locals alike. The organization employs a team of 36 individuals to ensure its successful operation.
Official website here: www.fosswaterwayseaport.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Stars
Foss Waterway Seaport has received a rating of 53% from Charity Navigator, resulting in a One-Star designation. This rating indicates significant concerns regarding the charity's overall effectiveness and financial health. While the charity demonstrates strong governance practices, such as having 100% independent board members and listed policies for conflict of interest and whistleblower protections, these strengths are overshadowed by low scores in other critical areas.
The organization has a program expense ratio of only 51.19%, which suggests that less than half of its expenses are allocated toward its programs and services. This low ratio raises questions about the charity's operational efficiency and its ability to fulfill its mission effectively. Additionally, while the liabilities to assets ratio is favorable at 4.66%, the overall financial accountability remains a concern due to the minimal program investment.
In summary, Foss Waterway Seaport exhibits some commendable governance practices, yet its low program expense ratio and overall score signal that there is significant room for improvement in its financial management and effectiveness in delivering on its mission. Stakeholders may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Foss Waterway Seaport legitimate?
Foss Waterway Seaport is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foss Waterway Seaport 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: $125,125
Professional Fundraising Fees: $0
Other Salaries and Wages: $647,268
For more financial information, click here
Official website here: www.fosswaterwayseaport.org
What is the mission statement of Foss Waterway Seaport?
The Foss Waterway Seaport's mission is centered around celebrating and preserving the maritime heritage of a particular community. This organization aims to showcase the past, present, and future aspects of this maritime heritage. The Seaport serves as a hub for families, groups, and communities, offering a blend of educational activities, maritime exhibits, and recreational spaces. It is situated in a century-old wooden warehouse, a testament to the era when cargo was transported by rail and sail. The Seaport houses a heritage boat shop, provides land- and boat-based education, offers event rental spaces, and provides guest boat moorage.
Official website here: www.fosswaterwayseaport.org
What is the revenue of Foss Waterway Seaport?
Foss Waterway Seaport's revenue in 2023 was $1,692,966.
Official website here: www.fosswaterwayseaport.org
Who are the executives of Foss Waterway Seaport and what are their salaries?
The average compensation at Foss Waterway Seaport during 2023 was $18,839. There are 41 employees and 41 volunteers at Foss Waterway Seaport.
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- Compensation: $114,625
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- Other: $10,500
Official website here: www.fosswaterwayseaport.org
Where can I find the form 990 for Foss Waterway Seaport?
Foss Waterway Seaport's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fosswaterwayseaport.org
Learn more at the official website: www.fosswaterwayseaport.org
Mission Statement of Foss Waterway Seaport
Foss Waterway Seaport, a community maritime heritage, education, and recreational center, is dedicated to celebrating Tacoma's rich maritime heritage. The mission of this organization is to honor both the past and present of Tacoma's maritime history while looking towards its future. Nestled in a century-old wooden wheat warehouse, built for cargo arriving by rail and departing by sail, the Foss Waterway Seaport provides a unique platform for families, groups, and communities to discover, explore, work, and play. The center houses maritime heritage exhibits, a heritage boat shop, and offers land- and boat-based education. It also provides event rental space and guest boat moorage, making it a vibrant and interactive hub for those interested in Tacoma's maritime history.
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Impact
July, 2024
Foss Waterway Seaport's impact lies in its role as a community maritime heritage, education, and recreational center located on the waterfront in Tacoma, Washington. It serves as Puget Sound's maritime heritage hub where families, groups, and communities come together to discover, explore, work, and play. By celebrating Tacoma's rich maritime heritage from the past, present, and future, Foss Waterway Seaport plays a vital role in preserving and promoting the city's connection to its maritime roots. Through activities such as maritime heritage exhibits, a heritage boat shop, land- and boat-based education programs, event rental space, and guest boat moorage, Foss Waterway Seaport actively engages the community and educates visitors about Tacoma's maritime history. Its mission to celebrate and honor this heritage is evident through its various programs and offerings, making it a significant cultural asset for the city of Tacoma.
This information is meant to be a general summary of Foss Waterway Seaport. 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: $20,262
- Program Service Revenue: $456,186
- Gross Receipts: $1,696,385
Assets and Liabilities:
- Total Assets: $3,015,253
- Total Liabilities: $140,691
- Net Assets: $2,874,562
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEETING ROOM RENTAL -
Revenue
$258,832
EDUCATION FEES
Revenue
$80,493
MOORAGE FEES
Revenue
$41,904
SPONSORSHIP REVENUE
Revenue
$31,251
MISCELLANEOUS
Revenue
$24,447
Organization Details
Founding Year
1996
Principal Officer
Brent Mason
Website
www.fosswaterwayseaport.orgNTEE Category
Code: A50 - Arts
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