Civic Intelligence

Richardson Maritime Museum Incorporated

990 • Fiscal year 2014 • EIN 52-1785312

Jan 01, 2014 to Dec 31, 2014 • Filed on Dec 21, 2016

PO Box 1198Cambridge, MD 21613

(410) 221-1871

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.70x

Higher debt load relative to assets than 85% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

27.39x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-257%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

28th percentile

-3.0%

Faster asset growth than 28% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

5th percentile

-46%

Faster revenue growth than 5% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$1,383,788

Down $42,314 (-3.0%) from 2013

Net Assets

Down

$417,475

Down $89,949 (-18%) from 2013

Liabilities

Up

$966,313

Up $47,635 (+5.2%) from 2013

Revenue

Down

$35,279

Down $30,304 (-46%) from 2013

Expenses

Up

$125,842

Up $17,149 (+16%) from 2013

Net Income

Down

-$90,563

Down $47,453 (-110%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,426,298Liabilities 2010: $868,913Net Assets 2010: $557,3852010Assets 2011: $1,511,540Liabilities 2011: $893,128Net Assets 2011: $618,4122011Assets 2012: $1,453,771Liabilities 2012: $903,237Net Assets 2012: $550,5342012Assets 2013: $1,426,102Liabilities 2013: $918,678Net Assets 2013: $507,4242013Assets 2014: $1,383,788Liabilities 2014: $966,313Net Assets 2014: $417,4752014Assets 2015: $1,686,266Liabilities 2015: $873,142Net Assets 2015: $813,1242015Assets 2016: $1,521,584Liabilities 2016: $846,673Net Assets 2016: $674,9112016Assets 2017: $1,373,038Liabilities 2017: $838,406Net Assets 2017: $534,6322017Assets 2018: $1,334,791Liabilities 2018: $832,747Net Assets 2018: $502,0442018Assets 2019: $1,203,797Liabilities 2019: $719,571Net Assets 2019: $484,2262019Assets 2020: $1,154,009Liabilities 2020: $707,685Net Assets 2020: $446,3242020Assets 2021: $1,299,389Liabilities 2021: $779,136Net Assets 2021: $520,2532021Assets 2022: $1,183,234Liabilities 2022: $769,087Net Assets 2022: $414,1472022Assets 2023: $487,452Liabilities 2023: $90,220Net Assets 2023: $397,2322023Assets 2024: $488,518Liabilities 2024: $81,320Net Assets 2024: $407,1982024

Highlighted filing

2014

Assets$1,383,788
Liabilities$966,313
Net Assets$417,475

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $88,657Expenses 2010: $108,019Net Income 2010: -$19,3622010Expenses 2011: $140,1602011Expenses 2012: $141,8242012Revenue 2013: $65,583Expenses 2013: $108,693Net Income 2013: -$43,1102013Revenue 2014: $35,279Expenses 2014: $125,842Net Income 2014: -$90,5632014Revenue 2015: $560,401Expenses 2015: $163,284Net Income 2015: $397,1172015Revenue 2016: $27,957Expenses 2016: $166,854Net Income 2016: -$138,8972016Revenue 2017: $32,629Expenses 2017: $174,580Net Income 2017: -$141,9512017Revenue 2018: $142,180Expenses 2018: $172,949Net Income 2018: -$30,7692018Revenue 2019: $208,156Expenses 2019: $228,883Net Income 2019: -$20,7272019Revenue 2020: $109,009Expenses 2020: $150,402Net Income 2020: -$41,3932020Revenue 2021: $193,843Expenses 2021: $122,861Net Income 2021: $70,9822021Revenue 2022: $64,183Expenses 2022: $164,895Net Income 2022: -$100,7122022Revenue 2023: -$140,822Expenses 2023: $191,849Net Income 2023: -$332,6712023Revenue 2024: $76,478Expenses 2024: $66,512Net Income 2024: $9,9662024

Highlighted filing

2014

Revenue$35,279
Expenses$125,842
Net Income-$90,563
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Dec 21, 2016
Return Version
2014v6.0
Gross Receipts
$38,296
Mission and Program Overview

Mission

The foundation is dedicated to

The foundation is dedicated to preserving and promoting the wooden boatbuilding heritage of Maryland's Eastern Shore with a museum and a wooden boat building center.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,373,059$1,353,722▼ $19,337
Loans From Officers Directors$49,967$66,383▲ $16,416
Inventories for Sale or Use$1,562$6,996▲ $5,434
Cash and Non-Interest-Bearing Accounts$34,012$5,153▼ $28,859
Total Assets$1,426,102$1,383,788▼ $42,314
Other Assets Total$17,469$17,917▲ $448
Liabilities
Mortgage Notes Payable Secured by Investment Property$867,694$860,443▼ $7,251
Unsecured Notes Loans Payable-$20,000-
Other Liabilities-$14,930-
Accounts Payable and Accrued Expenses$1,017$4,557▲ $3,540
Total Liabilities$918,678$966,313▲ $47,635
Net Assets / Fund Balance
Unrestricted Net Assets$366,954$287,018▼ $79,936
Temporarily Rstr Net Assets$124,135$113,036▼ $11,099
Permanently Rstr Net Assets$16,335$17,421▲ $1,086
Total Net Assets Fund Balance$507,424$417,475▼ $89,949
Total Liabilities and Net Assets / Fund Balance$1,426,102$1,383,788▼ $42,314

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$564,815$309,046$873,861
Land$776,678-$776,678
Equipment$10,994$7,639$18,633
Other Land Buildings$1,235$15,897$17,132

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$17,469-▲ $1,568-$17,917
2013$17,174-▲ $1,377-$17,469
2012$15,926-▲ $1,543-$17,174
2011$16,262-▼ $178-$15,926
2010$14,974-▲ $1,438-$16,262
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dan ShoemakerDirector
David SingelstadDirector
James BrightonDirector
Jay CorvanDirector
Mark MasdenDirector
Martin HardyDirector
Peter ZukoskiDirector
Scott ToddDirector
Victor MacsorleyPres./director
Virginia BrannockSecretary/director
Teri BelcherTreasurer/director
Sewell FreyVP/director
Revenue and Support

Revenue Composition

Contributions and Grants
$18,807
Program Service Revenue
$15,824
Investment Income
$954
Other Revenue
$-306
All Other Contributions
$12,944
Change in Net Assets
$-90,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$98,820
Salaries, Compensation, and Employee Benefits$27,022
Total Fundraising Expense$9,317
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$35,433$4,344$1,963$41,740
Depreciation Depletion$28,972$105$0$29,077
Other Salaries and Wages$15,000$5,000$5,000$25,000
Office Expenses$1,912$1,912$1,911$5,735
Payroll Taxes$1,214$404$404$2,022
Insurance$0$339$0$339
Fees for Service Investment Mgmnt Fees$298$0$0$298
Fees for Services Accounting$93$128$12$233
Conferences and Meetings$0$175$0$175
Other Expenses$158$0$0$158
Advertising$27$28$27$82
Travel$0$38$0$38
Interest$25$0$0$25
Total Functional Expenses$104,052$12,473$9,317$125,842
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$2,775
Fundraising Gross Income$2,130
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$49,967$66,383▲ $16,416
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance Deposit on Launch$14,930
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
James B Richardson Foundation Inc
EIN
52-1785312
Phone
4102211871
Address
PO BOX 1198, CAMBRIDGE, MD 21613

Signing Officer

Name
Jane Devlin
Title
Executive Director
Phone
4102211871
Signed
2016-12-21

Organization Details

Principal Officer
Victor Macsorley
Formed
1992
Legal Domicile
Md
Voting Board Members
12
Independent Board Members
12
Employees
1
Volunteers
20
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The return is prepared by a board member who is a certified public accountant. There was not enough time to have the return reviewed by the entire governing body. Other members of the governing body did not feel capable of reviewing the return. All members of the governing body may review at anty time.

Pt VI, Line 19

Documents are provided upon request.

Form 990, Part IX, Line 24F

Exhibits expense postage printing/reproduction telephone

Raw XML AppendixShowing 400 of 544 raw XML fields

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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IRS990/Desc0THE JAMES B. RICHARDSON FOUNDATION, INC IS A PRIVATE NON-PROFIT EDUCATIONAL INSTITUTION DEDICATED TO PRESERVING AND PROMOTING THE WOODEN BOATBUILDING HERITAGE OF MARYLAND'S EASTERN SHORE, INCLUDING ITS INFLUENCE ON US MARITIME HISTORY, THROUGH COLLECTION, EDUCATION AND RESEARCH. THIS YEAR APPROXIMATELY 950 MEMBERS, VOLUNTEERS AND VISITORS FROM ACROSS THE US AND ABROAD EXPERIENCED THE RICHARDSON MARITIME MUSEUM AND RUARK BOATWORKS. IN THE YEAR 2014 THE FOUNDATION CONTINUED REPAIRING WOODEN BOATS AND DID ADDITIONAL WORK ON THE CORE BUILDINGS. VOLUNTEERS PROVIDED MORE THAN 2200 HOURS OF THEIR TIME AS DOCENTS,CURATOR, BOATWRIGHTS, AND VARIOUS OTHER CAPACITIES.
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IRS990/OtherExpensesGrp/Desc0SUPPLIES
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IRS990/OtherExpensesGrp/ProgramServicesAmt22158
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt05000
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt05000
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IRS990/OtherSalariesAndWagesGrp/TotalAmt025000
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IRS990/PayrollTaxesGrp/FundraisingAmt0404
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0VICTOR MACSORLEY
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112650
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IRS990/ReconcilationRevenueExpnssAmt0-90563
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0122210
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part III, Line 12 Description: MISC. INCOME 2010: 150. 2011: 0. 2012: 0. 2013: 437. 2014: 75. Description: PARKING LOT RENTAL 2010: 6000. 2011: 6150. 2012: 3975. 2013: 2625. 2014: 0.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt II Ln 10
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt072168
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0179900
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt086347
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0442315
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt07542
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt011471
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt015824
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01378
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01571
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01624
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06192
IRS990ScheduleA/InvestmentIncomeCYPct00.01150
IRS990ScheduleA/InvestmentIncomePYPct00.00950
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt075
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt03062
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IRS990ScheduleA/PublicSupportTotal509Amt0268642
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0156105
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0243265
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt015800
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt028500
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt048000
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt0121055
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt089049
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt079710
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0191371
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0116640
IRS990ScheduleA/Total509Grp/TotalAmt0511907
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0537511
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0309046
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0873861
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0298
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt017469

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.49$0.08$0.41$0.08$0.07$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.49$0.09$0.40$0.14$0.19$0.33
2022Detailed filing. Detailed filing data is available for this year.$1.18$0.77$0.41$0.06$0.16$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.30$0.78$0.52$0.19$0.12$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.15$0.71$0.45$0.11$0.15$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.20$0.72$0.48$0.21$0.23$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.33$0.83$0.50$0.14$0.17$0.03
2017Summary only. Only limited summary data is available for this year.$1.37$0.84$0.53$0.03$0.17$0.14
2016Detailed filing. Detailed filing data is available for this year.$1.52$0.85$0.67$0.03$0.17$0.14
2015Detailed filing. Detailed filing data is available for this year.$1.69$0.87$0.81$0.56$0.16$0.40
2014Detailed filing. Detailed filing data is available for this year.$1.38$0.97$0.42$0.04$0.13$0.09
2013Detailed filing. Detailed filing data is available for this year.$1.43$0.92$0.51$0.07$0.11$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.90$0.55$0.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.89$0.62$0.14
2010Summary only. Only limited summary data is available for this year.$1.43$0.87$0.56$0.09$0.11$0.02