Museum Of Yachting Inc The in Newport, Rhode Island (RI)

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Museum Of Yachting Inc The
Employer Identification Number (EIN)050387774
Name of OrganizationMuseum Of Yachting Inc The
Address449 Thames St Unit 111, Newport, RI 02840-6750
ActivitiesMuseum, zoo, planetarium, etc., Library
SubsectionCharitable Organization
Ruling Date08/1980
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Tax Period06/2012
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$365,274
Amount of Income$314,774
Form 990 Revenue Amount$-165,562
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Museum, Museum Activities


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Amount of income in 2012: $314,774 (it was $61,264 in 2011)
Museum Of Yachting Inc The: 

 $314,774
Other organizations performing similar types of work: 

 $433,282

Assets in 2012: $365,274 (it was $715,461 in 2011)
Museum Of Yachting Inc The: 

 $365,274
Other organizations performing similar types of work: 

 $1,224,023

Expenses in 2012: $209,798
This organization: 

 $209,798
Other organizations performing similar types of work: 

 $338,913

Income to expenses ratio in 2012: 1.5
This organization: 

 1.5
Other organizations performing similar types of work: 

 1.5

Number of employees in 2012: 4
This organization: 

 4
Other organizations performing similar types of work: 

 9

Grants share in income in 2012: -65.2%
Museum Of Yachting Inc The: 

 -65.2%
Other organizations performing similar types of work: 

 70.6%

Financial snapshot ($)

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$-165,562
Contributions, Gifts, Grants and Other Similar Amounts$107,888
Program Service Revenue$48,820
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$481
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$17,500
Gross rents (Real / Personal)$17,500 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$17,500 / $0
Net loss from sales of assets other than inventory$-320,324
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $105,000
Less: cost or other basis and sales expenses (Securities / Other)$324 / $425,000
Gain or (loss) (Securities / Other)$-324 / $-320,000
Net loss from fundraising events$-22,093
Gross income from fundraising events$32,919
Less: direct expenses$55,012
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$2,166
Statement of Functional Expenses (for 2012)
Total functional expenses$209,798
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$70,238
Payroll taxes$1,836
Professional fundraising services$0
Other$137,724
Balance Sheet (for 2012)
Total assets$365,274
Total liabilities$244,377
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$244,377
Total net assets or fund balances$120,897
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012)
2008 - 2012 Total
Total Support$931,565
Gifts, grants, contributions, and membership fees received$780,684
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$150,881
Gross receipts from related activities, etc.$104,929
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$3,093$0$3,093
Gross receipts or sales less returns and allowances$4,624$0$0
Cost of goods sold$15,311$0$0
Gross profit$3,093$0$3,093
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$4,771
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$4,771
Unrelated business taxable income$1,678
Unrelated business taxable income before net operating loss deduction$1,678
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$1,678
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Smith Museum Of Stained Glass Windows And American Art20 N Wacker Drive, Chicago, IL 60606-2806IL1994-05$838,665
2Witte Museum3801 Broadway St, San Antonio, TX 78209-6309TX1932-11$20,214,005
3Studio Museum In Harlem Inc144 W 125th Street, New York, NY 10027-4423NY1967-11$11,364,824
4Southwest Dairy Museum Inc1210 Houston St, Sulphur Spgs, TX 75482-2310TX1983-11$8,689,664
5Uss Constitution Museum IncPO BOX 291812, Charlestown, MA 02129-0215MA1973-01$8,440,275
6Yankee Air Force IncorporatedPO BOX 590, Belleville, MI 48112-0590MI1982-02$4,557,797
7Vesterheim Norwegian American MuseumPO BOX 379, Decorah, IA 52101-0379IA1965-04$3,540,724
8Vanderbilt Museum Suffolk County Commission180 Little Neck Rd, Centerport, NY 11721-1145NY1963-03$3,401,225
9Sherwin Miller Museum Of Jewish Art Inc, Fenster General Fund2021 E 71st St, Tulsa, OK 74136-5408OK1968-08$3,372,784
10Stamford Museum And Nature Center Incorporated39 Scofieldtown Rd, Stamford, CT 06903-4023CT1952-04$3,231,146
11Staten Island Institute Of Arts And Sciences75 Stuyvesant Pl, Staten Island, NY 10301-1912NY1940-06$3,136,665
12Wheelwright Museum Of The American IndianPO BOX 5153, Santa Fe, NM 87502-5153NM1943-10$2,458,268
13Whatcom Museum Foundation121 Prospect St, Bellingham, WA 98225-4401WA1982-12$2,455,092
14The Museum Of The African Diaspora685 Mission St, San Francisco, CA 94105-4126CA2000-02$2,274,413
15San Francisco Maritime National Park AssociationPO BOX 470310, San Francisco, CA 94147-0310CA1952-01$2,246,123
16Whaling Museum Society Inc279 Main St, Cold Spg Hbr, NY 11724-1438NY1947-10$2,101,040
17Powerhouse Science Center3615 Auburn Blvd, Sacramento, CA 95821-2007CA1995-01$2,006,185
18Thronateeska Heritage Foundation Inc100 W Roosevelt Ave, Albany, GA 31701-2325GA1976-05$2,005,947
19Museum Of Yachting Inc The449 Thames St Unit 111, Newport, RI 02840-6750RI1980-08$314,774
20New England Wireless & Steam Museum1300 Frenchtown Rd, E Greenwich, RI 02818-1309RI1967-04$100,616
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas6
Arizona11
California72
Colorado12
Connecticut16
District of Columbia3
Delaware3
Florida25
Georgia11
Hawaii10
Iowa15
Idaho4
Illinois33
Indiana16
Kansas18
Kentucky9
Louisiana6
Massachusetts17
Maryland13
Maine13
Michigan18
Minnesota7
Missouri14
Mississippi3
Montana3
North Carolina12
North Dakota3
Nebraska2
New Hampshire8
New Jersey14
New Mexico10
Nevada2
New York48
Ohio33
Oklahoma14
Oregon7
Pennsylvania20
Rhode Island2
South Carolina5
South Dakota7
Tennessee13
Texas39
Utah2
Virginia13
Vermont5
Washington13
Wisconsin12
West Virginia2
Wyoming2
International1
Total651

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