2023-09-18T09:59:13-05:00 2022-12-31 540504608 BROWN EDWARDS & COMPANY LLP 701 TOWN CENTER DRIVE SUITE 700 NEWPORT NEWS VA 23606 990 2022-01-01 540541801 THE MARINERS' MUSEUM MARI 7575917701 100 MUSEUM DRIVE NEWPORT NEWS VA 23606 HOWARD H HOEGE III PRESIDENT AND CEO 7575917701 2023-09-14 1 HOWARD HOEGE III XXX-XX-XXXX 0 LESLIE ROBERTS P00040492 7578731033 2023-09-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z HOWARD H HOEGE III 100 MUSEUM DRIVE NEWPORT NEWS VA 23606 18006901 0 X WWW.MARINERSMUSEUM.ORG X 1930 VA THE MARINERS' MUSEUM AND PARK CONNECTS PEOPLE TO THE WORLD'S WATERS, BECAUSE THROUGH THE WATERS - THROUGH OUR SHARED MARITIME HERITAGE - WE ARE CONNECTED TO ONE ANOTHER. 15 15 124 231 1118 0 9054420 13595370 115626 138123 275756 408718 575398 635290 10021200 14777501 38960 21178 0 0 5718974 6177721 0 0 825818 4363966 4239934 10121900 10438833 -100700 4338668 159780245 139665066 9634517 9337792 150145728 130327274 THE MARINERS' MUSEUM AND PARK CONNECTS PEOPLE TO THE WORLD'S WATERS, BECAUSE THROUGH THE WATERS - THROUGH OUR SHARED MARITIME HERITAGE - WE ARE CONNECTED TO ONE ANOTHER. 0 0 4819018 7750 317679 EXHIBITIONS (MUSEUM) AND AMENITIES (PARK), AS WELL AS CONSERVATION OF THE MARINERS' MUSEUM COLLECTIONS AND THE MARINERS' PARK "LIVING COLLECTION" (FOREST, LAKE, AND WILDLIFE WITHIN THE 550-ACRE MARINERS' PARK). APPROXIMATELY 150,000 SERVED BOTH IN THE MUSEUM GALLERIES AND IN THE MARINERS' PARK. 2098659 4375 36345 RESEARCH - BUILDING THE BODY OF KNOWLEDGE ABOUT THE MUSEUM'S VAST MARITIME ARCHIVAL COLLECTION (AN ESTIMATED 2 MILLION ARCHIVAL PIECES), MARITIME LIBRARY (WELL OVER 100,000 VOLUMES), EXTENSIVE MARITIME ART COLLECTION (THOUSANDS OF PAINTINGS AND WORKS ON PAPER), AND MORE. PROVIDING ACCESS TO THE ARCHIVAL MATERIAL THROUGH DIGITIZATION EFFORTS AND SERVING RESEARCH REQUESTS. APPROXIMATELY 2,000 INDIVIDUALS SERVED. 2024947 9053 171653 PROGRAMS - WITH A PARTICULAR FOCUS ON EDUCATIONAL ENRICHMENT PROGRAMS FOR SCHOOL-AGED CHILDREN. MORE THAN 22,000 STUDENTS SERVICED DURING THE 2022-23 ACADEMIC YEAR, 86% OF WHOM PARTICIPATED FOR FREE. ADDITIONAL PROGRAMS INCLUDE GROUP EXPERIENCES FOR ACTIVE DUTY MILITARY AND VETERANS, TOUR GROUPS, AND MEMBERS OF THE LOCAL AND NATIONAL COMMUNITIES WE SERVE. 8942624 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 41 0 1 124 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X THE OFFICERS 7575917701 100 MUSEUM DRIVE NEWPORT NEWS VA 23606 KEITH VANDER VENNET CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 JENNIFER BOYKIN VICE CHAIRMAN 1.00 X X 0 0 0 C CHRIS HALL TREASURER 1.00 X X 0 0 0 JOHN R LAWSON II SECRETARY 1.00 X X 0 0 0 MARGARET PODLICH TRUSTEE 1.00 X 0 0 0 KENNETH CROFTON TRUSTEE 1.00 X 0 0 0 JERRY MILLER TRUSTEE 1.00 X 0 0 0 HENRY MORRIS TRUSTEE 1.00 X 0 0 0 KEVIN SWANN TRUSTEE 1.00 X 0 0 0 CONWAY SHEILD III TRUSTEE 1.00 X 0 0 0 TINA MORRIS TRUSTEE 1.00 X 0 0 0 KEVIN FEWSTER TRUSTEE 1.00 X 0 0 0 CAROLYN KURTZ TRUSTEE 1.00 X 0 0 0 MAYOR MCKINLEY PRICE TRUSTEE 1.00 X 0 0 0 MARSHA HUDGINS TRUSTEE 1.00 X 0 0 0 HOWARD H HOEGE III PRESIDENT & CEO 40.00 X 213861 0 24206 213861 0 24206 1 0 1 0 0 62477 13532893 68541 13595370 ADMISSIONS 611710 70396 70396 PHOTOGRAPHY 611710 32497 32497 MEMBERSHIP FEES-PROGRAM SVC 611710 22003 22003 EDUCATION PROGRAM FEES 611710 13227 13227 138123 311090 311090 246618 0 246618 246618 246618 3257267 3159639 97628 97628 97628 139611 69761 69850 68732 1118 CONTRACT REVENUE 611710 250000 250000 OTHER 611710 68822 68822 318822 14777501 525677 1118 655336 21178 21178 213861 42772 42772 128317 4854394 4134958 114044 605392 169784 149183 19340 1261 571691 503465 64048 4178 367991 323339 41918 2734 34122 29981 3887 254 40321 35428 4593 300 77566 76238 1247 81 29790 21088 186 8516 143764 114909 5911 22944 261313 252456 8315 542 726105 638623 82125 5357 57193 46296 10281 616 51283 37518 13157 608 126123 110819 14367 937 1627639 1430142 185404 12093 80251 65295 8465 6491 REPAIRS AND MAINTENANCE 647869 610996 34281 2592 OTHER EXPENSE 217198 197914 11920 7364 EVENT AND PROGRAM COSTS 97923 78552 4130 15241 EXHIBITION COSTS 21474 21474 10438833 8942624 670391 825818 291931 488966 5354407 10392930 1348988 2553699 53868 77663 76725 76021 33602 141064 70506438 47654832 23340260 22851606 17856222 12637152 111424242 90445965 159780245 139665066 617086 746989 3048897 2964876 5968534 5625927 9634517 9337792 X 25730653 20943325 124415075 109383949 150145728 130327274 159780245 139665066 4338668 -24157122 0 X X 0 1 X 1 0 X 5785720 10492893 4072214 9054420 13595370 43000617 5785720 10492893 4072214 9054420 13595370 43000617 9901845 33098772 747037 632205 117298 512335 557708 2566583 296751 318822 615573 46182773 1985193 0.71670 0.72870 X SCH A, PART II, SECTION A, LINE 1C 2020 WAS A SHORT-YEAR. EFFECTIVE 10/1/20, THE MARINERS' MUSEUM CHANGED TO A 12/31 YEAR-END. THE 2020 RETURN WAS FOR THE 3-MONTH PERIOD 10/1/20-12/31/20. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X PUBLICATIONS (BOOKS, MOVIES 0 17263871 6336237 -1904936 2411795 19283377 14631099 3882655 2184457 3434340 17263871 13608366 643136 545836 166239 14631099 8506696 5533426 1088859 1520615 13608366 10896096 706451 224755 3320606 8506696 0.19500 0.80500 1 0 1995993 1995993 54584984 37206465 17378519 7471469 6815468 656001 6453992 3632899 2821093 22851606 FUNDS HELD IN TRUST BY OTHERS - SEE SCHEDULE O 90445965 90445965 -9309860 -24157122 69761 -24087361 14777501 0 14777501 10508594 69761 69761 10438833 0 10438833 PART III, LINE 1A: THE MUSEUM MAINTAINS SIGNIFICANT COLLECTION ASSETS, INCLUDING MODELS, SMALL CRAFTS, PRINTS, PAINTINGS, BOOKS, PHOTOGRAPHS, AND NAVIGATION INSTRUMENTS. IN ACCORDANCE WITH INDUSTRY PRACTICE, THE VALUE OF THE COLLECTION HAS BEEN EXCLUDED FROM THE STATEMENT OF FINANCIAL POSITION. ONLY CURRENT YEAR PURCHASES AND PROCEEDS FROM SALE ARE REFLECTED IN THE STATEMENT OF ACTIVITIES. IT IS THE POLICY OF THE MUSEUM THAT PROCEEDS FROM THE SALE OF ANY COLLECTION ITEMS ARE TO BE USED FOR THE ACQUISITION OF OBJECTS FOR THE PERMANENT COLLECTIONS OR FOR THE CONSERVATION OR MAINTENANCE OF ITEMS CURRENTLY OWNED BY THE MUSEUM BY EXTERNAL CONSERVATORS. PART III, LINE 4: THE COLLECTION INCLUDES MARITIME RELATED OBJECTS AND EPHEMERA USED FOR EDUCATIONAL PURPOSES. PART V, LINE 4: THE MARINERS' MUSEUM ENDOWMENT (ENDOWMENT) WAS ESTABLISHED TO SUPPORT ITS MISSION. THE ENDOWMENT SUBSTANTIALLY CONTRIBUTES TO THE GROWTH, FINANCIAL SECURITY AND THE LONG-TERM STABILITY OF THE MUSEUM. SCHEDULE D ON THE 990 INCLUDES BOARD DESIGNATED FUNDS (QUASI-ENDOWMENTS). PART XI, LINE 2D - OTHER ADJUSTMENTS: MUSEUM SHOP COGS SHOWN NET ON 990 69,761. PART XII, LINE 2D - OTHER ADJUSTMENTS: MUSEUM SHOP COGS SHOWN NET ON 990 69,761. 1 GRANTS TO INTERNS IN ORDER TO TRAIN AND EMPLOY COLLEGE-LEVEL STUDENTS IN THE AREAS OF EDUCATION, CONSERVATION, COLLECTIONS AND MARKETING TO CULTIVATE THEIR INTEREST IN WORKING IN THE MUSEUM FIELD. 12 21178 PART I, LINE 2: GRANT FUNDING WAS USED TO OFFER INTERNSHIP OPPORTUNITIES. INTERNSHIP CANDIDATES ARE SELECTED THROUGH A COMPETITIVE INTERVIEW PROCESS AND PERFORMANCE MONITORED THROUGHOUT THE INTERNSHIP PERIOD. X 1 0 X X X 0 0 0 0 0 0 0 0 0 HOWARD H HOEGE III PRESIDENT & CEO 213861 0 0 0 0 0 8555 0 15651 0 238067 0 0 0 PART I, LINE 1A THE MUSEUM BUILT A RESIDENCE IN THE 1940'S AS A GUEST HOUSE FOR VISITING DIGNITARIES, OUT OF TOWN TRUSTEES AND OTHER GUESTS OF THE MUSEUM. THE PRESIDENT AND CEO LIVES IN THE HOUSE TO ACT AS HOST TO THESE GUESTS AND TO SPONSOR EVENTS FOR THE MUSEUM AND THE LOCAL COMMUNITY. THIS INCLUDES FUND RAISING ACTIVITIES AND MEETINGS. PART I, LINE 1B THE MUSEUM BY-LAWS GIVE THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES THE AUTHORITY TO SET THE COMPENSATION OF THE CEO. THE CEO IS EMPLOYED PURSUANT TO A FORMAL EMPLOYMENT AGREEMENT BETWEEN THE MUSEUM AND CEO. THIS EMPLOYMENT AGREEMENT SETS THE TERMS OF THE CEO'S EMPLOYMENT AND MANDATES THAT THE CEO LIVE IN THE MUSEUM HOUSE FOR THE PRIMARY BENEFIT OF THE MUSEUM. A TOWNEBANK 541910608 2021-11-01 6000000 REFINANCE NOTE DTD 2/1/12 USED TO CONSTRUCT EXHIBIT AND USS MONITOR CENTER 0 0 0 A 6000000 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 X 45 X 10 68541 FMV STOCK SHARES 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS PART I, LINE 32B: FROM TIME TO TIME, THE MUSEUM WILL SEND WORKS OF ART TO AUCTION FOR SALE. PROCEEDS FROM THESE SALES ARE RESTRICTED TO FUTURE ACQUISITION AND DIRECT CARE OF OBJECTS FOR THE COLLECTION. PART I, LINE 33: BEGINNING IN 2008, UNDER THE PROVISION OF SFAS NO. 116, THE VALUE OF THE COLLECTION HAS BEEN EXCLUDED FROM THE STATEMENT OF FINANCIAL POSITION. THUS, THE VALUE OF DONATED COLLECTION ITEMS ARE EXCLUDED FROM REVENUE. FAIR MARKET VALUES OF THE DONATED HISTORICAL TREASURES RECEIVED DURING 2022 FOR WHICH THE ORGANIZATION COMPLETED FORMS 8283 ARE APPROXIMATELY $52,675. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE ORGANIZATION'S FROM 990 IS SENT TO EVERY TRUSTEE FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD REVIEWS THE CONFLICT OF INTEREST POLICY, PROVIDE QUESTIONNAIRES FOR THE BOARD MEMBERS TO REPORT CONFLICTS OF INTEREST, AND REPORT ON ANY FINDINGS OF CONFLICTS OF INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD OF TRUSTEES REVIEWS AND APPROVES THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL AND OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC FOR REVIEW UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE YEAR. SCHEDULE D, PART IX OTHER ASSETS - FUNDS HELD IN TRUST BY OTHERS FUNDS HELD IN TRUST BY OTHERS CONSIST PRIMARILY OF IRREVOCABLE TRUSTS ESTABLISHED BY THE MUSEUM FOUNDER, ARCHER M. HUNTINGTON, WHICH ARE CLASSIFIED AS PERMANENTLY RESTRICTED. THE TRUSTS ARE NOT-FOR-PROFIT SUPPORTING ORGANIZATIONS. THE MUSEUM RECEIVES CONTRIBUTIONS BASED ON DISTRIBUTIONS OF INVESTMENT INCOME FROM THE SECURITIES HELD BY THE TRUSTS. THESE CONTRIBUTIONS ARE BASED ON INVESTMENT INCOME, NET OF EXPENSES, REALIZED AND UNREALIZED GAINS AND LOSSES. THE TRUSTEES OF THE HUNTINGTON TRUSTS HAVE ADOPTED A TOTAL RETURN POLICY WHICH DISTRIBUTES 5% OF THE ROLLING AVERAGE MARKET VALUE OF THE HUNTINGTON TRUSTS, USING QUARTER END VALUE OF THE PRECEDING TWELVE QUARTERS ENDING WITH SEPTEMBER 30 OF THE CURRENT YEAR. THE REMAINING TRUSTS ALSO PAY OUT 5% OF THE TRUST ASSETS ON AN ANNUAL BASIS. THE MUSEUM IS ALSO A CO-BENEFICIARY WITH THREE OTHER NOT-FOR-PROFIT ORGANIZATIONS UNDER THE TRUST AGREEMENT WITH BANK OF AMERICA (FORMERLY U.S. TRUST CO., OF NEW YORK). THEREFORE, THE AMOUNT RECORDED IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION IS 25% OF THE TRUST'S VALUE, WHICH REPRESENTS THE MUSEUM'S SHARE UNDER THIS SPLIT-INTEREST AGREEMENT.