Civic Intelligence

Great Lakes Shipwreck Historical So

EIN 38-2198482 • 501(c)3 • Sault Sainte Marie, MI

Profile

To promote and augment an understanding and appreciation of maritime history with particular emphasis on the great lakes museum facilities.

400 West PortageSault Sainte Marie, MI 49783

www.shipwreckmuseum.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

43rd percentile

0.04x

Higher debt load relative to assets than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.11x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

79th percentile

27%

Higher net margin than 79% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

66th percentile

10%

Faster asset growth than 66% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

72nd percentile

24%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,619,473

Up $430,861 (+10%) from 2023

Liabilities

Down

$173,354

Down $533 (-0.3%) from 2023

Net Assets

Up

$4,446,119

Up $431,394 (+11%) from 2023

Revenue

Up

$1,577,528

Up $305,202 (+24%) from 2023

Expenses

Up

$1,150,552

Up $140,856 (+14%) from 2023

Net Income

Up

$426,976

Up $164,346 (+63%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $1,934,767Liabilities 2011: $1,267,976Net Assets 2011: $666,7912011Assets 2012: $1,893,499Liabilities 2012: $1,135,919Net Assets 2012: $757,5802012Assets 2013: $1,952,524Liabilities 2013: $1,025,863Net Assets 2013: $926,6612013Assets 2014: $1,940,228Liabilities 2014: $855,995Net Assets 2014: $1,084,2332014Assets 2015: $2,100,651Liabilities 2015: $745,098Net Assets 2015: $1,355,5532015Assets 2016: $2,238,283Liabilities 2016: $587,294Net Assets 2016: $1,650,9892016Assets 2017: $2,557,333Liabilities 2017: $558,160Net Assets 2017: $1,999,1732017Assets 2018: $2,842,244Liabilities 2018: $475,459Net Assets 2018: $2,366,7852018Assets 2019: $3,166,252Liabilities 2019: $445,831Net Assets 2019: $2,720,4212019Assets 2020: $3,412,153Liabilities 2020: $403,564Net Assets 2020: $3,008,5892020Assets 2021: $3,626,401Liabilities 2021: $157,471Net Assets 2021: $3,468,9302021Assets 2022: $3,917,790Liabilities 2022: $165,695Net Assets 2022: $3,752,0952022Assets 2023: $4,188,612Liabilities 2023: $173,887Net Assets 2023: $4,014,7252023Assets 2024: $4,619,473Liabilities 2024: $173,354Net Assets 2024: $4,446,1192024

Highlighted filing

2024

Assets$4,619,473
Liabilities$173,354
Net Assets$4,446,119

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0Expenses 2011: $709,2912011Expenses 2012: $714,0802012Revenue 2013: $804,171Expenses 2013: $635,090Net Income 2013: $169,0812013Revenue 2014: $869,940Expenses 2014: $712,368Net Income 2014: $157,5722014Revenue 2015: $946,387Expenses 2015: $675,067Net Income 2015: $271,3202015Revenue 2016: $1,002,622Expenses 2016: $707,186Net Income 2016: $295,4362016Revenue 2017: $1,071,803Expenses 2017: $723,619Net Income 2017: $348,1842017Revenue 2018: $1,132,757Expenses 2018: $756,316Net Income 2018: $376,4412018Revenue 2019: $1,089,631Expenses 2019: $735,572Net Income 2019: $354,0592019Revenue 2020: $895,868Expenses 2020: $730,718Net Income 2020: $165,1502020Revenue 2021: $1,273,806Expenses 2021: $779,143Net Income 2021: $494,6632021Revenue 2022: $1,226,774Expenses 2022: $943,609Net Income 2022: $283,1652022Revenue 2023: $1,272,326Expenses 2023: $1,009,696Net Income 2023: $262,6302023Revenue 2024: $1,577,528Expenses 2024: $1,150,552Net Income 2024: $426,9762024

Highlighted filing

2024

Revenue$1,577,528
Expenses$1,150,552
Net Income$426,976

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.62$0.17$4.45$1.58$1.15$0.43
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.19$0.17$4.01$1.27$1.01$0.26
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.92$0.17$3.75$1.23$0.94$0.28
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.63$0.16$3.47$1.27$0.78$0.49
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.41$0.40$3.01$0.90$0.73$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.17$0.45$2.72$1.09$0.74$0.35
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.84$0.48$2.37$1.13$0.76$0.38
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.56$0.56$2.00$1.07$0.72$0.35
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.24$0.59$1.65$1.00$0.71$0.30
2015Detailed filing. Detailed filing data is available for this year.$2.10$0.75$1.36$0.95$0.68$0.27
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.86$1.08$0.87$0.71$0.16
2013Detailed filing. Detailed filing data is available for this year.$1.95$1.03$0.93$0.80$0.64$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.89$1.14$0.76$0.71
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$1.27$0.67$0.71
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 26, 2025
Return Version
2024v5.0
Gross Receipts
$2,654,831
Mission and Program Overview

Mission

To promote and augment an understanding and appreciation of maritime history with particular emphasis on the great lakes museum facilities.

To promote and augment an understanding and appreciation of maritime history with particular emphasis on the great lakes maritime history.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$4,014,725$4,446,119▲ $431,394
Land, Buildings, and Equipment, Net$2,469,719$2,768,668▲ $298,949
Cash and Non-Interest-Bearing Accounts$1,436,984$1,471,071▲ $34,087
Inventories for Sale or Use$211,792$303,750▲ $91,958
Pledges and Grants Receivable$35,543$39,443▲ $3,900
Investments in Publicly Traded Securities$22,520$26,120▲ $3,600
Prepaid Expenses and Deferred Charges$12,054$10,421▼ $1,633
Total Assets$4,188,612$4,619,473▲ $430,861
Liabilities
Accounts Payable and Accrued Expenses$173,887$173,354▼ $533
Total Liabilities$173,887$173,354▼ $533
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,014,725$4,446,119▲ $431,394
Total Liabilities and Net Assets / Fund Balance$4,188,612$4,619,473▲ $430,861

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,155,471$1,510,440$2,665,911
Buildings$1,155,368$1,480,320$2,635,688
Land$457,829-$457,829
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bruce LynnExecutive DiFT$117,175$3,515$120,690

Board Members and Trustees

NameTitle
C Patrick LabadieDirector
Chris WintersDirector
David SteeleDirector
Kwin MorrisDirector
Paul C Lamarre IiiDirector
Ric MixterDirector
Shelley KosterDirector
Terry BegnocheDirector
William SpringerDirector
David TurnerSecretary
Jodie BissonetteVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$150,478
Program Service Revenue
$1,094,963
Investment Income
$9,581
Other Revenue
$322,506
All Other Contributions
$150,478
Change in Net Assets
$426,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$686,249
Salaries, Compensation, and Employee Benefits$464,303
Total Fundraising Expense$111,308
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$164,043$36,906$96,421$297,370
Depreciation Depletion$203,431--$203,431
Current Officers, Directors, Trustees, and Key Employees$29,294$82,022$5,859$117,175
Advertising-$82,975-$82,975
Insurance$57,857--$57,857
Payroll Taxes$16,180$14,913$9,028$40,121
Other Expenses$32,652--$32,652
Fees for Services Other$29,480--$29,480
Fees for Services Accounting-$28,200-$28,200
Travel$25,860--$25,860
All Other Expenses$25,299--$25,299
Occupancy$13,835--$13,835
Other Employee Benefits-$9,637-$9,637
Total Functional Expenses$784,591$254,653$111,308$1,150,552
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Governance management and disclosure from 990 was provided to the executive director for review and signature prior to filing

Form 990, Page 6, Part VI, Line 15A

Salary and performance reviews of management are conducted annually by the board of directors

Form 990, Page 6, Part VI, Line 15B

Salary and performance reviews of management are conducted annually by the board of directors

Form 990, Page 6, Part VI, Line 19

The organization provides information to the public upon written request

Filing and Contact Details

Filer

Filer Name
Great Lakes Shipwreck Historical So
EIN
38-2198482
Phone
9066351757
Address
400 WEST PORTAGE, SAULT SAINTE MARIE, MI 49783

Signing Officer

Name
Bruce Lynn
Title
Executive Director
Phone
9066351757
Signed
2025-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Lynn
Formed
1978
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
10
Employees
37
Volunteers
3

Preparer

Firm
Lori Langendorf CPA
Address
301 E ANN ST, SAULT SAINTE MARIE, MI 49783
Preparer
Lori Langendorf
Phone
9066326341
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOVERNANCE MANAGEMENT AND DISCLOSURE FROM 990 WAS PROVIDED TO THE EXECUTIVE DIRECTOR FOR REVIEW AND SIGNATURE PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SALARY AND PERFORMANCE REVIEWS OF MANAGEMENT ARE CONDUCTED ANNUALLY BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY AND PERFORMANCE REVIEWS OF MANAGEMENT ARE CONDUCTED ANNUALLY BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION PROVIDES INFORMATION TO THE PUBLIC UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE LYNN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09066351757
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREAT LAKES SHIPWRECK HISTORICAL SO
ReturnHeader/Filer/BusinessNameControlTxt0GREA

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