2025-11-11T15:11:07-06:00 2024-12-31 540504608 BROWN EDWARDS & COMPANY LLP 701 TOWN CENTER DRIVE SUITE 700 NEWPORT NEWS VA 23606 990 2024-01-01 540541801 THE MARINERS' MUSEUM MARI 7575917701 100 MUSEUM DRIVE NEWPORT NEWS VA 23606 HOWARD H HOEGE III PRESIDENT AND CEO 7575917701 2025-11-10 1 0 JACOB REEVES P01875186 7578731033 2025-11-10 2024 2025-03-06 01:10:19Z HOWARD H HOEGE III 100 MUSEUM DRIVE NEWPORT NEWS VA 23606 17823512 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. 17 17 137 179 3500 0 7044235 9749067 144518 161254 1680718 3865281 646092 565855 9515563 14341457 42507 20548 0 0 7051341 8161945 0 0 1489093 4185112 4290269 11278960 12472762 -1763397 1868695 147592225 154526932 9112894 8567160 138479331 145959772 X 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 4596036 11560 325719 THE TWO OPERATIONAL TENETS OF THE "COMMUNITY-FOCUSED" PRONG OF OUR STRATEGY ARE "ACCESS" (TO THE ART, ARTIFACTS, AND ARCHIVAL MATERIAL OF THE MARINERS' MUSEUM COLLECTION, AND TO THE "LIVING COLLECTION" THE FOREST, LAKE, AND WILDLIFE - WITHIN MARINERS' PARK), AND "VALUE" (WITH A PRIMARY FOCUS ON EDUCATIONAL ENRICHMENT PROGRAMS SERVING SCHOOL-AGED CHILDREN). OUR EDUCATIONAL ENRICHMENT PROGRAMS (EEP'S) ARE DESIGNED TO PROVIDE ENGAGING EXPERIENCES THAT ENHANCE THE STANDARD CLASSROOM CURRICULUM, ENCOURAGE ACTIVE STUDENT PARTICIATION, AND EMPHASIZE IMPORTANT LIFE SKILLS SUCH AS CRITICAL THINKING AND COMMUNICATION. PARTICIPATION IN OUR EEP'S FOSTER A GREATER SENSE OF BELONGING WITHIN THE STUDENTS WE SERVE, CONSISTENT WITH THE GOALS OF OUR MISSION. DURING THE 2023-2024 ACADEMIC YEAR, THE MARINERS' MUSEUM SERVED LOCAL SCHOOLS WITH MORE THAN 26,000 STUDENT ENGAGEMENTS. OVER 80% OF THESE STUDENTS PARTICIPATED FOR FREE, THE PROGRAMS FOR THE REMAINDER WERE HEAVILY SUBSIDIZED, AND IN MANY INSTANCES, WE PAID THE TRANSPORTATION COSTS TO GET THE STUDENTS TO OUR MARINERS' CAMPUS. OUR TEAM ALSO COMPLETED THE FIRST YEAR OF "THE MARINERS' LAKE EFFECT" PROGRAM WITH ALL SIXTH-GRADERS FROM NEWPORT NEWS PUBLIC SCHOOLS. FOR MANY, THIS WAS THEIR FIRST TIME ON THE WATER FOR AN IMMERSIVE KAYAK EXPERIENCE. 2986932 4850 159806 ONE OF THE TWO OPERATIONAL TENETS OF THE "COLLECTIONS-BASED" PRONG OF OUR STRATEGY IS "CONSERVATION" OF THE ART, ARTIFACTS, AND ARCHIVAL MATERIAL OF THE MARINERS' MUSEUM COLLECTION ("HERITAGE CONSERVATION") AND OF THE "LIVING COLLECTION" THE FOREST, LAKE, AND WILDLIFE - WITHIN MARINERS' PARK ("ENVIRONMENTAL CONSERVATION"). HIGHLIGHTS FROM HERITAGE CONSERVATION WORK IN 2024 FEATURE THE RELOCATION OF THE MUSEUM'S NEARLY 90 FIGUREHEADS AS WELL AS OVER TWO DOZEN STERNBOARDS WITH THE GOAL OF IMPROVING THE PREVENTIVE CARE OF THESE IMPORTANT COLLECTIONS. TEAM MEMBERS FROM MULTIPLE MUSEUM DEPARTMENTS BUILT OUT STORAGE FOR THESE RELOCATED COLLECTIONS ACTUALLY WITHIN MUSEUM GALLERIES, SIMULTANEOUSLY IMPROVING COMMUNITY ACCESS TO THE COLLECTIONS. CONTEMPORANEOUSLY, THE MUSEUM'S DIGITIZATION AND ARCHIVAL TEAMS LAUNCHED AN IN-HOUSE DIGITIZATION PROJECT FUNDED BY A "SAVE AMERICA'S TREASURES" GRANT. NEARLY 13,500 NEGATIVES WERE DIGITIZED FROM THE A. AUBREY BODINE AND EDWIN LEVICK COLLECTIONS. THE MARINERS' PARK TEAM AND OUR CONSERVATION SCIENTIST CONTINUED ACTIVE WATER QUALITY TESTING OF OUR 167-ACRE MARINERS' LAKE, A PROGRAM THAT SHOWS OUR STORMWATER-FED LAKE REMAINS HEALTHY. OUR FOREST MANAGEMENT TEAM CONTINUED THE REMOVAL OF HAZARD TREES ALONG PUBLIC TRAILS WITHIN MARINERS' PARK, AND SUSTAINED EARLIER INVASIVE-SPECIES REMOVAL EFFORTS WITHIN THE FOREST. 2547395 4138 18910 ONE OF THE TWO OPERATIONAL TENETS OF THE "COLLECTIONS-BASED" PRONG OF OUR STRATEGY IS "RESEARCH, OR "BUILDING THE BODY OF KNOWLEDGE" ABOUT THE MARINERS' MUSEUM'S VAST MARITIME ARCHIVAL COLLECTION (AN ESTIMATED 2 MILLION ARCHIVAL PIECES), MARITIME LIBRARY (OVER 100,000 VOLUMES), MARITIME ART COLLECTION (THOUSANDS OF PAINTINGS AND WORKS ON PAPER), AND MARITIME ARTIFACT COLLECTION, AND ABOUT THE "LIVING COLLECTION" THE FOREST, LAKE, AND WILDLIFE WITHIN MARINERS' PARK. IN 2024, OUR CONSERVATION RESEARCH SCIENTIST, IN COLLABORATION WITH A CONSERVATION SCIENCE FELLOW, FURTHER REFINED AN APPROACH TO CAPTURE AND/OR MITIGATE THE EFFECTS OF SULPHUR TRAPPED IN WATERLOGGED ARCHAEOLOGICAL WOOD. THIS PROBLEM, UNTREATED, MANIFESTS ITSELF IN THE DEVELOPMENT OF SULFURIC ACID WHEN FORMERLY WATERLOGGED ARCHAEOLOGICAL WOOD THAT IS DRIED AND DISPLAYED - A PARTICULARLY THORNY PROBLEM FOR RECOVERED AND CONSERVED HISTORIC SHIPWRECKS GLOBALLY. OUR ARCHIVAL TEAM AND CURATORIAL TEAM IMPROVED THE CATALOGING OF SIGNIFICANT PORTIONS OF OUR ARCHIVE, PHOTOGRAPHIC, AND ARTIFACT COLLECTIONS, WITH A PARTICULAR EMPHASIS ON CAPTURING THE HUMAN STORIES THAT LIVE WITHIN THESE COLLECTION ITEMS. WE REGULARLY HOST PARTNER RESEARCHERS FROM HIGHER EDUCATION INSTITUTIONS AND OTHER TYPES OF INSTITUTIONS WITHIN THE MARINERS' PARK, AND IN 2024 ESTABLISHED, FOR THE FIRST TIME, A FORMAL RESEARCH LIAISON AND MANAGER TO SUPPORT THIS TYPE OF RESEARCH IN THE LIVING COLLECTION AND BEGIN DESIGNING A SYSTEM FOR AGGREGATING AND DISSEMINATING THAT RESEARCH. 10130363 1 1 0 1 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 48 0 1 137 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 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 BRAD BARNES TRUSTEE 1.00 X 0 0 0 JENNIFER BOYKIN CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 STUART HENDERSON TRUSTEE 1.00 X 0 0 0 CAMILLE CHERRY TRUSTEE 1.00 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 BRIAN SKINNER TRUSTEE 1.00 X 0 0 0 KEVIN SWANN TRUSTEE 1.00 X 0 0 0 LINDSEY CARNEY SMITH TRUSTEE 1.00 X 0 0 0 TINA MORRIS VICE CHAIRMAN 1.00 X X 0 0 0 KEVIN FEWSTER TRUSTEE 1.00 X 0 0 0 CAROLYN KURTZ TRUSTEE 1.00 X 0 0 0 MCKINLEY PRICE TRUSTEE 1.00 X 0 0 0 MARSHA HUDGINS SECRETARY 1.00 X X 0 0 0 TAYLOR LAWSON TRUSTEE 1.00 X 0 0 0 CLAYTON TURNER TRUSTEE 1.00 X 0 0 0 HOWARD H HOEGE III PRESIDENT & CEO 40.00 X 256777 0 25099 JEFFREY ESBER CONTROLLER & TREASURER 40.00 X 121353 0 13090 NELSON FORBES VP COLLECTIONS, CHIEF CURA 40.00 X 112187 0 16558 LUISA A VAZQUEZ-LOPEZ CHIEF OF STAFF 40.00 X 107198 0 17769 597515 0 72516 4 0 1 0 0 40248 9708819 239980 9749067 ADMISSIONS 611710 97844 97844 PHOTOGRAPHY 611710 26132 26132 EDUCATION PROGRAM FEES 611710 22061 22061 MEMBERSHIP FEES-PROGRA 611710 15217 15217 161254 728498 728498 222674 0 222674 222674 222674 6564865 3428082 3136783 3136783 3136783 107691 53973 53718 50218 3500 CONTRACT REVENUE 611710 243648 243648 OTHER 611710 45815 45815 289463 14341457 500935 3500 4087955 20548 20548 597514 316384 85457 195673 6133388 5060818 251860 820710 226680 182565 11276 32839 718741 581086 37362 100293 485622 391114 24157 70351 9785 8597 1115 73 51065 44869 5817 379 211545 95487 25897 90161 33163 2888 188 30087 158830 125909 7802 25119 68070 61906 5787 377 800982 701925 90493 8564 69099 54560 7135 7404 64297 61800 862 1635 102969 90475 11729 765 1691832 1486545 192717 12570 88410 72465 9394 6551 OTHER EXPENSE 517761 420776 48579 48406 REPAIRS AND MAINTENANCE 355687 311043 30076 14568 EVENT AND PROGRAM COSTS 57300 29185 5589 22526 EXHIBITION COSTS 9474 9418 14 42 12472762 10130363 853306 1489093 2184248 1327538 6812591 4887458 1852593 3375633 79637 40855 50983 47021 16401 104887 73397168 50939565 22689670 22457603 15780744 18522957 98125358 103762980 147592225 154526932 945993 801933 2891075 2811502 5275826 4953725 9112894 8567160 X 18599523 16058092 119879808 129901680 138479331 145959772 147592225 154526932 1868695 5611746 0 X X 0 1 X 1 0 X 4072214 9054420 13595370 7044235 9749067 43515306 4072214 9054420 13595370 7044235 9749067 43515306 4186011 39329295 117298 512335 557708 816138 951172 2954651 296751 318822 358162 289463 1263198 47733155 1126153 0.82390 0.73410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 90000 0 0 90000 0 PART II-B, LINE 1: THE ORGANIZATION PAID A CONSULTANT TO LOBBY ON ITS BEHALF FOR A ONE-TIME $5 MILLION INCREASE TO THE NATIONAL MARINE SANCTUARY PROGRAM FY2025 PROGRAMMATIC BUDGET TO FUND THE NEXT CRITICAL STEPS IN THE CONSERVATION AND LONG-TERM PRESERVATION OF SELECT LARGE IRON ARTIFACTS RECOVERED FROM THE WRECK OF THE ICONIC USS MONITOR, A FEDERALLY STEWARDED ASSET (NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION). THE FUNDING WILL SPECIFICALLY TARGET THE MONITOR'S TWO 11-IN DAHLGREN GUNS, TWO COMPOSITE GUN CARRIAGES, SKEG ASSEMBLY AND SOME BULKHEADS, AND 114-TON REVOLVING TURRET, ALL CURRENTLY UNDERGOING CONSERVATION AT THE MARINERS' MUSEUM IN NEWPORT NEWS, VIRGINIA. THESE ITEMS ARE SANCTUARY RESOURCES AS DEFINED IN SECTION 302(8) OF THE NATIONAL MARINE SANCTUARIES ACT AND PROTECTED UNDER SECTION 306 OF THAT ACT. X X X X X PUBLICATIONS (BOOKS, MOVIES 0 18708926 1416960 3316726 2018618 21423994 19283377 500401 3207096 4281948 18708926 17263871 6336237 -1904936 2411795 19283377 14631099 3882655 2184457 3434340 17263871 13608366 643136 545836 166239 14631099 0.02970 0.97030 1 0 1995993 1995993 56131083 40033215 16097868 8986033 7088567 1897466 6284059 3817783 2466276 22457603 FUNDS HELD IN TRUST BY OTHERS - SEE SCHEDULE O 103762980 103762980 20007176 5611746 53973 5665719 14341457 0 14341457 12526738 53976 53976 12472762 0 12472762 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 53,973. PART XII, LINE 2D - OTHER ADJUSTMENTS: MUSEUM SHOP COGS SHOWN NET ON 990 53,976. 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. 10 20548 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 256777 0 0 0 0 0 9591 0 15508 0 281876 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 IS REQUIRED BY CONTRACT TO LIVE 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 11 239980 FMV STOCK SHARES X MISCELLANEOUS GOODS 12 0 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/BOOKS AND PUBLICATIONS RECEIVED DURING 2024 FOR WHICH THE ORGANIZATION COMPLETED FORMS 8283 ARE APPROXIMATELY $42,920. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE ORGANIZATION'S FORM 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.