Is Seaport Museum New York Legit?

Quick charity verification for Seaport Museum New York (EIN: 132596500)

Verdict: Seaport Museum New York appears trustworthy

85/100Mission Score

$8.8MRevenue

$28.6MAssets

2Red Flags

4Strengths

Red Flags

Consistent 0% officer compensation reported, which is unusual for an organization of this size and could obscure actual executive remuneration.
Significant revenue fluctuation (e.g., $3.9M in 2021 to $12.1M in 2022 to $6.4M in 2023) suggests reliance on unpredictable large contributions.

Strengths

Strong and consistent asset growth, from $17,027,269 in 2015 to $28,606,610 currently, indicating robust financial health.
Generally positive operating margins in recent years, with revenues often exceeding expenses (e.g., $6,471,516 revenue vs. $5,305,698 expenses in 2023).
Liabilities are well-managed and represent a small portion of total assets, indicating low financial risk.
No reported officer compensation, which could indicate high efficiency or reliance on volunteer leadership, potentially freeing up funds for programs.

Spending Breakdown

How Seaport Museum New York allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Seaport Museum New York

Is Seaport Museum New York a legitimate charity?

Based on AI analysis of IRS 990 filings, Seaport Museum New York (EIN: 132596500) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.

Is Seaport Museum New York a good charity to donate to?

Seaport Museum New York has a Mission Score of 85/100. Revenue: $8.8M. Assets: $28.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Seaport Museum New York?

The Employer Identification Number (EIN) for Seaport Museum New York is 132596500. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Seaport Museum New York spend its money?

Seaport Museum New York allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Seaport Museum New York's tax-exempt status?

You can verify Seaport Museum New York's tax-exempt status using EIN 132596500 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

The Seaport Museum New York demonstrates a generally stable financial position with fluctuating but often positive net assets. In 2023, the organization reported revenues of $6,471,516 against expenses of $5,305,698, indicating a surplus. This follows a significant revenue spike in 2022 to $12,195,681, which was well above its typical operating budget, suggesting a potential one-time large donation or grant. The museum's assets have shown consistent growth, reaching $28,606,610, while liabilities have remained manageable, peaking at $10,131,746 in 2021 but reducing to $3,683,945 in 2023. This indicates good financial stewardship and an ability to manage debt.

The organization's spending efficiency appears sound, with expenses generally below or in line with revenues, particularly in recent years. The absence of reported officer compensation across all available filings is a notable aspect of its financial transparency, suggesting that executive leadership may be compensated through other means or that the organization relies heavily on volunteer leadership, which is highly efficient. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is limited. The consistent growth in assets over the long term, from $17,027,269 in 2015 to $28,606,610 currently, reflects a healthy accumulation of resources.

Overall, the Seaport Museum New York appears to be a financially healthy organization with a strong asset base and a history of managing its finances responsibly. The lack of reported officer compensation is a positive indicator of potential efficiency and dedication to its mission. Further detailed expense breakdowns would enhance transparency regarding program delivery versus overhead.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.