Icebreaker Mackinac Maritime Museum Inc
Icebreaker Mackinac Maritime Museum maintains stable assets despite recent operating deficits and no reported officer compensation.
EIN: 201849324 · Mackinaw City, MI · NTEE: A50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $258K |
| Total Expenses | $258K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $2.2M |
| Transparency Score | 70/100 |
Is Icebreaker Mackinac Maritime Museum Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Icebreaker Mackinac Maritime Museum Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Icebreaker Mackinac Maritime Museum Inc
Icebreaker Mackinac Maritime Museum Inc (EIN: 201849324) is a nonprofit organization based in Mackinaw City, MI, classified under NTEE code A50. The organization reported total revenue of $258K and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Icebreaker Mackinac Maritime Museum Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Icebreaker Mackinac Maritime Museum Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $223K |
| Total Expenses | $258K |
| Surplus / Deficit | $-34,924 |
| Total Assets | $2.2M |
| Total Liabilities | $2K |
| Net Assets | $2.2M |
| Operating Margin | -15.7% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 103.1 months |
Financial Health Grade: B
In 2023, Icebreaker Mackinac Maritime Museum Inc reported a deficit of $35K with expenses exceeding revenue, holds 103.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Icebreaker Mackinac Maritime Museum Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.0% | -4.9% | -1.1% |
| 2022 | -26.4% | +3.9% | -1.5% |
| 2021 | +43.2% | +11.7% | +1.6% |
| 2020 | -20.0% | -15.3% | -0.4% |
| 2019 | -49.8% | +9.4% | +0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Icebreaker Mackinac Maritime Museum Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Icebreaker Mackinac Maritime Museum Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $35K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all 13 filings, suggesting that executive leadership is either entirely volunteer-based or compensated through other means not disclosed in this section, which is unusual for an organization with over $2 million in assets.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Icebreaker Mackinac Maritime Museum Inc's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., 2023, 2022, 2020) where expenses exceeded revenue.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering a full efficiency analysis.
- Unusually low liabilities relative to assets, which could indicate conservative financial management but also warrants a deeper look into funding structures.
- No reported officer compensation, which, while potentially positive, can also obscure leadership costs if compensation is provided in other forms.
Strengths
The following positive indicators were identified for Icebreaker Mackinac Maritime Museum Inc:
- Strong and growing asset base, reaching $2,215,102 in the latest period.
- Very low liabilities, indicating a healthy balance sheet and minimal debt.
- Consistent IRS 990 filing history (13 filings), demonstrating regulatory compliance.
- Significant revenue spike in 2018 ($560,487) shows capacity for substantial fundraising or grant acquisition.
Frequently Asked Questions about Icebreaker Mackinac Maritime Museum Inc
Is Icebreaker Mackinac Maritime Museum Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Icebreaker Mackinac Maritime Museum Inc (EIN: 201849324) some concerns. Mission Score: 70/100. 4 red flags identified, 4 strengths noted.
How does Icebreaker Mackinac Maritime Museum Inc spend its money?
Icebreaker Mackinac Maritime Museum Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Icebreaker Mackinac Maritime Museum Inc tax-deductible?
Icebreaker Mackinac Maritime Museum Inc is registered as a tax-exempt nonprofit (EIN: 201849324). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Icebreaker Mackinac Maritime Museum Inc CEO make?
Icebreaker Mackinac Maritime Museum Inc's highest-compensated officer earns $2 annually. The organization reported $258K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Icebreaker Mackinac Maritime Museum Inc's spending goes to programs?
Icebreaker Mackinac Maritime Museum Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Icebreaker Mackinac Maritime Museum Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Icebreaker Mackinac Maritime Museum Inc is above average for NTEE category A50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Icebreaker Mackinac Maritime Museum Inc located?
Icebreaker Mackinac Maritime Museum Inc is headquartered in Mackinaw City, Michigan and files with the IRS under EIN 201849324. It is classified under NTEE code A50.
How many years of IRS 990 filings does Icebreaker Mackinac Maritime Museum Inc have?
Icebreaker Mackinac Maritime Museum Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $258K in total revenue.
How does Icebreaker Mackinac Maritime Museum Inc. fund its operations when expenses frequently exceed revenues, as seen in 2023 ($257,900 expenses vs. $222,976 revenue) and 2022 ($271,323 expenses vs. $237,278 revenue)?
The organization appears to be drawing down on its accumulated assets to cover operating deficits in years where expenses exceed revenue. While its asset base is substantial ($2,215,102), sustained deficits could eventually impact long-term financial stability.
What is the detailed breakdown of program, administrative, and fundraising expenses for Icebreaker Mackinac Maritime Museum Inc.?
The provided IRS 990 data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. This information would be crucial for a more precise assessment of spending efficiency.
Why is officer compensation consistently reported as 0% across all filings, given the organization's asset size and operational scope?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that compensation is structured in a way that it is not reported as 'officer compensation' on the 990 form. This warrants further investigation for complete transparency.
Filing History
IRS 990 filing history for Icebreaker Mackinac Maritime Museum Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Icebreaker Mackinac Maritime Museum Inc's revenue has declined by 3.5%, moving from $231K to $223K. Total assets increased by 15.4% over the same period, from $1.9M to $2.2M. Total functional expenses fell by 11.6%, from $292K to $258K. In its most recent filing year (2023), Icebreaker Mackinac Maritime Museum Inc reported a deficit of $35K, with expenses exceeding revenue. The organization holds $2K in liabilities against $2.2M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $2.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $223K | $258K | $2.2M | $2K | — | — |
| 2022 | $237K | $271K | $2.2M | $3K | — | View 990 |
| 2021 | $322K | $261K | $2.3M | $3K | — | View 990 |
| 2020 | $225K | $234K | $2.2M | $2K | — | — |
| 2019 | $282K | $276K | $2.2M | $2K | — | View 990 |
| 2018 | $560K | $252K | $2.2M | $2K | — | View 990 |
| 2017 | $239K | $228K | $1.9M | $6K | — | View 990 |
| 2016 | $274K | $200K | $1.9M | $1K | — | View 990 |
| 2015 | $366K | $220K | $1.9M | $67K | — | View 990 |
| 2014 | $239K | $240K | $1.9M | $211K | — | View 990 |
| 2013 | $225K | $236K | $1.9M | $225K | — | View 990 |
| 2012 | $238K | $226K | $1.9M | $208K | — | View 990 |
| 2011 | $231K | $292K | $1.9M | $211K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $223K, expenses of $258K, and assets of $2.2M (revenue -6.0% year-over-year).
- 2022: Revenue of $237K, expenses of $271K, and assets of $2.2M (revenue -26.4% year-over-year).
- 2021: Revenue of $322K, expenses of $261K, and assets of $2.3M (revenue +43.2% year-over-year).
- 2020: Revenue of $225K, expenses of $234K, and assets of $2.2M (revenue -20.0% year-over-year).
- 2019: Revenue of $282K, expenses of $276K, and assets of $2.2M (revenue -49.8% year-over-year).
- 2018: Revenue of $560K, expenses of $252K, and assets of $2.2M (revenue +134.3% year-over-year).
- 2017: Revenue of $239K, expenses of $228K, and assets of $1.9M (revenue -12.6% year-over-year).
- 2016: Revenue of $274K, expenses of $200K, and assets of $1.9M (revenue -25.1% year-over-year).
- 2015: Revenue of $366K, expenses of $220K, and assets of $1.9M (revenue +53.3% year-over-year).
- 2014: Revenue of $239K, expenses of $240K, and assets of $1.9M (revenue +5.9% year-over-year).
- 2013: Revenue of $225K, expenses of $236K, and assets of $1.9M (revenue -5.3% year-over-year).
- 2012: Revenue of $238K, expenses of $226K, and assets of $1.9M (revenue +3.0% year-over-year).
- 2011: Revenue of $231K, expenses of $292K, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Icebreaker Mackinac Maritime Museum Inc:
Data Sources and Methodology
This transparency report for Icebreaker Mackinac Maritime Museum Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.