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Mystic Seaport Museum
Mystic Seaport Museum reported $25.3 million in revenue and $24.7 million in expenses for calendar year 2024. Of every $100 it spent, $57.05 went to program services, $34.48 to management and general costs and $8.47 to fundraising. Its largest source of revenue was contributions and grants: 54.6% of the total. The highest compensation it reported for one person was $368,053 (PRESIDENT/CEO & TRUSTEE). 12 people received more than $100,000 in reportable compensation. Revenue rose 2% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $25MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $25M- Contributions & grants (non-government)$53.19 $13M
- Government grants$1.37 $349K
- Program service revenue$28.23 $7.2M
- Investment income$17.21 $4.4M
Other revenue was negative: −$37,512. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 57.0% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 34.5% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 8.5% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.15 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 54.6% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 1.4% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 28.3% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $368,053 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.49% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 12 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 50.2 | 36.6 |
| Independent voting board members Part VI 1a–1b | 33 of 34 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseVisitor experience - Mystic Seaport Museum welcomes 250,000 visitors annually. Departments including visitor services, exhibitions, interpretation, and public programs welcome visitors; research, design, produce, and care for exhibits; offer educational and illustrative experiences about america and the sea; and offer a variety of seasonal and themed programs, activities, and special events
Educational programs - Mystic Seaport Museum serves 25,000 students and teachers annually with a variety of educational opportunities, including summer camps; sailing programs; school field trips; and afterschool, in-school, homeschool, virtual, and overnight programs
Collections & research - Mystic Seaport Museum's collection contains more than 2 million items spanning the eighteenth through twenty-first centuries, including watercraft, historic buildings, photographs and film, art, tools, and artifacts. The watercraft collection is the largest in the world with more than 560 vessels, including four national historic landmarks. The henry b. Dupont preservation shipyard cares for these vessels, while the curatorial department acquires, researches, documents, restores, and conserves items for the collection. The museum's collection are housed in a state of…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT/CEO & TRUSTEE Director/trustee, officer, 35.00 hrs/week | $332,672 | $0 | $35,381 | $368,053 |
| SR. VP OF CURATORIAL AFFAIRS Highest compensated employee, 35.00 hrs/week | $213,599 | $0 | $40,632 | $254,231 |
| VP ADVANCEMENT Highest compensated employee, 35.00 hrs/week | $171,723 | $0 | $28,096 | $199,819 |
| VP WATERCRAFT OPERATIONS AND PRESERVATION Highest compensated employee, 35.00 hrs/week | $169,664 | $0 | $17,744 | $187,408 |
| VP VISITOR JOURNEY Highest compensated employee, 35.00 hrs/week | $165,587 | $0 | $17,772 | $183,359 |
| VP AMERICAN INSTITUTE MARITIME STUDIES Highest compensated employee, 35.00 hrs/week | $143,809 | $0 | $25,467 | $169,276 |
| OUTGOING CFO 8/24 Officer, 35.00 hrs/week | $150,083 | $0 | $12,762 | $162,845 |
| ASST. SECRETARY Officer, 35.00 hrs/week | $79,596 | $0 | $2,400 | $81,996 |
12 people received more than $100,000 in reportable compensation from Mystic Seaport Museum (Part VII, line 2). Compensation of current officers, directors and key employees totaled $617K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b34 · 33 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5382
- Volunteers Part I, line 6405
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| SMOKE SYGNALS Creation of exhibit | $223,301 |
| CALUMET HILL Brand creation | $124,780 |
| BUILDING ONE FACILITY SERVICES Janitorial services | $120,144 |
| ROY OCCHIOGROSSO LLC Strategic consulting | $100,457 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Private foundation grants it received
69 private foundations reported grants to Mystic Seaport Museum totaling $1.0M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Mystic Seaport Museum's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Mystic Seaport Museum, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Mystic Seaport Museum spent in 2024, $57.05 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Center for Cultural InnovationLos Angeles, CA · revenue $25M · programs 95.3% · FY2025
- Houston Arts AllianceHouston, TX · revenue $25M · programs 96.6% · 2024
- Tuacahn Center for the ArtsIvins, UT · revenue $25M · programs 99.8% · 2024
- New Museum of Contemporary ArtNew York, NY · revenue $26M · programs 80.6% · FY2025
- Vermont Public CoColchester, VT · revenue $25M · programs 73.1% · FY2025
All arts, culture & humanities charities · Largest charities in Connecticut
Questions people ask
How much of Mystic Seaport Museum's spending goes to programs?
In calendar year 2024, Mystic Seaport Museum reported that 57.0% of its $24.7 million in expenses went to program services, 34.5% to management and general and 8.5% to fundraising (Form 990, Part IX).
How much does Mystic Seaport Museum pay its top executive?
The largest total compensation Mystic Seaport Museum reported for one person in calendar year 2024 was $368,053, for the role of PRESIDENT/CEO & TRUSTEE (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Mystic Seaport Museum get its money?
Of $25.3 million in revenue in calendar year 2024, 54.6% came from contributions and grants (including 1.4% from government grants) and 28.3% from program service revenue (Form 990, Part VIII).
Is Mystic Seaport Museum a registered charity?
The IRS lists EIN 06-0653120 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202523159349305322 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403199349306285 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303079349300800 · read the filing
- 2021: Form 990 for calendar year 2021, object 202213139349304356 · read the filing
- 2020: Form 990 for calendar year 2020, object 202133149349304033 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003179349302870 · read the filing
All filings for EIN 06-0653120: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.