Lake Champlain Maritime Museum At Basin Harbor Incorporated
Lake Champlain Maritime Museum: Strong Assets, Inconsistent Revenue
EIN: 222570380 · Vergennes, VT · NTEE: A500 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $2.0M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $4.9M |
| Transparency Score | 85/100 |
Is Lake Champlain Maritime Museum At Basin Harbor Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lake Champlain Maritime Museum At Basin Harbor Incorporated directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lake Champlain Maritime Museum At Basin Harbor Incorporated
Lake Champlain Maritime Museum At Basin Harbor Incorporated (EIN: 222570380) is a nonprofit organization based in Vergennes, VT, classified under NTEE code A500. The organization reported total revenue of $2.6M and total assets of $5.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Champlain Maritime Museum At Basin Harbor Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Champlain Maritime Museum At Basin Harbor Incorporated is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $2.0M |
| Surplus / Deficit | $-212,819 |
| Total Assets | $5.2M |
| Total Liabilities | $277K |
| Net Assets | $4.9M |
| Operating Margin | -12.2% |
| Debt-to-Asset Ratio | 5.3% |
| Months of Reserves | 31.9 months |
Financial Health Grade: B
In 2023, Lake Champlain Maritime Museum At Basin Harbor Incorporated reported a deficit of $213K with expenses exceeding revenue, holds 31.9 months of operating reserves (strong position), has a debt-to-asset ratio of 5.3% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2023), Lake Champlain Maritime Museum At Basin Harbor Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.4% | +14.8% | +0.5% |
| 2022 | -48.5% | +2.7% | -11.4% |
| 2021 | +118.4% | +19.0% | +8.1% |
| 2020 | +0.3% | -8.9% | +6.6% |
| 2019 | +20.2% | +24.9% | +5.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Lake Champlain Maritime Museum At Basin Harbor Incorporated with a Mission Score of 85 out of 100 (Excellent). 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, Lake Champlain Maritime Museum At Basin Harbor Incorporated 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 $213K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.3%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, which suggests either a fully volunteer-led executive team or that compensation is reported under different categories not immediately apparent.
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 Lake Champlain Maritime Museum At Basin Harbor Incorporated's IRS 990 filings:
- Consistent reporting of 0% compensation for key employees could be a red flag for transparency regarding leadership compensation.
- The organization has experienced net losses in multiple recent years (e.g., 2023, 2022), indicating that expenses are regularly exceeding revenue.
- Significant fluctuation in revenue, such as the drop from $3,154,369 in 2021 to $1,746,686 in 2023, suggests potential instability in funding sources.
Strengths
The following positive indicators were identified for Lake Champlain Maritime Museum At Basin Harbor Incorporated:
- Maintains a strong asset base, consistently over $5 million, providing financial stability.
- Demonstrates a clear mission focused on maritime history and education.
- Has a long operating history with consistent financial filings.
Frequently Asked Questions about Lake Champlain Maritime Museum At Basin Harbor Incorporated
Is Lake Champlain Maritime Museum At Basin Harbor Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Champlain Maritime Museum At Basin Harbor Incorporated (EIN: 222570380) some concerns. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
How does Lake Champlain Maritime Museum At Basin Harbor Incorporated spend its money?
Lake Champlain Maritime Museum At Basin Harbor Incorporated directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lake Champlain Maritime Museum At Basin Harbor Incorporated tax-deductible?
Lake Champlain Maritime Museum At Basin Harbor Incorporated is registered as a tax-exempt nonprofit (EIN: 222570380). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Lake Champlain Maritime Museum At Basin Harbor Incorporated CEO make?
Lake Champlain Maritime Museum At Basin Harbor Incorporated's highest-compensated officer earns $0 annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Lake Champlain Maritime Museum At Basin Harbor Incorporated's spending goes to programs?
Lake Champlain Maritime Museum At Basin Harbor Incorporated directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lake Champlain Maritime Museum At Basin Harbor Incorporated compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Lake Champlain Maritime Museum At Basin Harbor Incorporated is above average for NTEE category A500 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lake Champlain Maritime Museum At Basin Harbor Incorporated located?
Lake Champlain Maritime Museum At Basin Harbor Incorporated is headquartered in Vergennes, Vermont and files with the IRS under EIN 222570380. It is classified under NTEE code A500.
How many years of IRS 990 filings does Lake Champlain Maritime Museum At Basin Harbor Incorporated have?
Lake Champlain Maritime Museum At Basin Harbor Incorporated 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 $2.6M in total revenue.
What does Lake Champlain Maritime Museum At Basin Harbor Incorporated do?
Lake Champlain Maritime Museum At Basin Harbor Incorporated is a nonprofit organization in the Arts, Culture & Humanities sector, located in Vergennes, Vermont. It is classified under NTEE code A500.
How much revenue does Lake Champlain Maritime Museum At Basin Harbor Incorporated have?
Lake Champlain Maritime Museum At Basin Harbor Incorporated reported total revenue of $2,556,962. Based on 13 IRS 990 filings on record.
What are Lake Champlain Maritime Museum At Basin Harbor Incorporated's total assets?
Lake Champlain Maritime Museum At Basin Harbor Incorporated holds total assets of $5,940,124 as reported in IRS 990 filings.
Where is Lake Champlain Maritime Museum At Basin Harbor Incorporated located?
Lake Champlain Maritime Museum At Basin Harbor Incorporated is based in Vergennes, Vermont.
What is Lake Champlain Maritime Museum At Basin Harbor Incorporated's EIN?
Lake Champlain Maritime Museum At Basin Harbor Incorporated's Employer Identification Number (EIN) is 222570380. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Lake Champlain Maritime Museum At Basin Harbor Incorporated?
Lake Champlain Maritime Museum At Basin Harbor Incorporated is classified under NTEE code A500 (Arts, Culture & Humanities).
Is Lake Champlain Maritime Museum At Basin Harbor Incorporated a registered 501(c)(3)?
Yes, Lake Champlain Maritime Museum At Basin Harbor Incorporated is recognized as a tax-exempt organization by the IRS. EIN: 222570380.
Does Lake Champlain Maritime Museum At Basin Harbor Incorporated file IRS Form 990?
Yes, Lake Champlain Maritime Museum At Basin Harbor Incorporated has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Lake Champlain Maritime Museum At Basin Harbor Incorporated's revenue in 2023?
In the 202312 filing period, Lake Champlain Maritime Museum At Basin Harbor Incorporated reported total revenue of $1,746,686, total expenses of $1,959,505, and net assets of $5,213,745.
Is Lake Champlain Maritime Museum At Basin Harbor Incorporated's revenue growing or declining?
Lake Champlain Maritime Museum At Basin Harbor Incorporated's revenue is growing. Revenue went from $1,625,926 (202212) to $1,746,686 (202312), a +7.4% change. Based on 13 filings on record.
What is Lake Champlain Maritime Museum At Basin Harbor Incorporated's most recent 990 filing?
The most recent IRS Form 990 filing for Lake Champlain Maritime Museum At Basin Harbor Incorporated covers tax period 202312. It shows revenue of $1,746,686, expenses of $1,959,505, total assets of $5,213,745, and liabilities of $276,926.
How much does Lake Champlain Maritime Museum At Basin Harbor Incorporated spend on programs vs administration?
Based on IRS 990 analysis, Lake Champlain Maritime Museum At Basin Harbor Incorporated allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Lake Champlain Maritime Museum At Basin Harbor Incorporated a trustworthy charity?
Based on AI analysis of IRS 990 data, Lake Champlain Maritime Museum At Basin Harbor Incorporated appears trustworthy. Mission Score: 85/100 (Excellent). 3 red flags identified. 3 strengths noted.
What are the red flags for Lake Champlain Maritime Museum At Basin Harbor Incorporated?
The following concerns were identified: Consistent reporting of 0% compensation for key employees could be a red flag for transparency regarding leadership compensation.. The organization has experienced net losses in multiple recent years (e.g., 2023, 2022), indicating that expenses are regularly exceeding revenue.. Significant fluctuation in revenue, such as the drop from $3,154,369 in 2021 to $1,746,686 in 2023, suggests potential instability in funding sources.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Lake Champlain Maritime Museum At Basin Harbor Incorporated's strengths?
Positive indicators for Lake Champlain Maritime Museum At Basin Harbor Incorporated include: Maintains a strong asset base, consistently over $5 million, providing financial stability.. Demonstrates a clear mission focused on maritime history and education.. Has a long operating history with consistent financial filings.. These findings are derived from AI analysis of the organization's financial filings.
How does Lake Champlain Maritime Museum At Basin Harbor Incorporated compensate executives?
Executive compensation is consistently reported as $0 across all available filings, which suggests either a fully volunteer-led executive team or that compensation is reported under different categories not immediately apparent. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for key employee compensation, how does the organization attract and retain leadership, and is this sustainable long-term?
The consistent $0 compensation suggests either a highly dedicated volunteer leadership or that compensation is structured in a way not captured under 'key employee compensation' in these filings. This model, while potentially efficient, raises questions about long-term sustainability and professional leadership recruitment.
With recurring net losses in recent years, what strategies are in place to achieve financial self-sufficiency and reverse the trend of expenses exceeding revenue?
The organization's consistent net losses, such as the $212,819 deficit in 2023, indicate a need for a clear strategy to increase revenue or reduce expenses to ensure long-term operational viability, potentially through new fundraising initiatives or program efficiencies.
Filing History
IRS 990 filing history for Lake Champlain Maritime Museum At Basin Harbor Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Lake Champlain Maritime Museum At Basin Harbor Incorporated's revenue has grown by 14.5%, moving from $1.5M to $1.7M. Total assets increased by 9.5% over the same period, from $4.8M to $5.2M. Total functional expenses rose by 27.1%, from $1.5M to $2.0M. In its most recent filing year (2023), Lake Champlain Maritime Museum At Basin Harbor Incorporated reported a deficit of $213K, with expenses exceeding revenue. The organization holds $277K in liabilities against $5.2M in assets (debt-to-asset ratio: 5.3%), resulting in net assets of $4.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $2.0M | $5.2M | $277K | — | — |
| 2022 | $1.6M | $1.7M | $5.2M | $383K | — | View 990 |
| 2021 | $3.2M | $1.7M | $5.9M | $365K | — | View 990 |
| 2020 | $1.4M | $1.4M | $5.4M | $350K | — | View 990 |
| 2019 | $1.4M | $1.5M | $5.1M | $331K | — | View 990 |
| 2018 | $1.2M | $1.2M | $4.8M | $376K | — | View 990 |
| 2018 | $1.4M | $1.6M | $5.2M | $459K | — | View 990 |
| 2017 | $1.9M | $1.4M | $5.0M | $242K | — | View 990 |
| 2016 | $1.3M | $1.5M | $4.6M | $330K | — | View 990 |
| 2015 | $1.4M | $1.3M | $4.9M | $252K | — | View 990 |
| 2014 | $1.3M | $1.4M | $4.9M | $357K | — | View 990 |
| 2013 | $1.6M | $1.6M | $4.9M | $353K | — | View 990 |
| 2012 | $1.5M | $1.5M | $4.8M | $379K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $2.0M, and assets of $5.2M (revenue +7.4% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.7M, and assets of $5.2M (revenue -48.5% year-over-year).
- 2021: Revenue of $3.2M, expenses of $1.7M, and assets of $5.9M (revenue +118.4% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.4M, and assets of $5.4M (revenue +0.3% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.5M, and assets of $5.1M (revenue +20.2% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.2M, and assets of $4.8M (revenue -13.3% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.6M, and assets of $5.2M (revenue -27.1% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.4M, and assets of $5.0M (revenue +43.7% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.5M, and assets of $4.6M (revenue -3.9% year-over-year).
- 2015: Revenue of $1.4M, expenses of $1.3M, and assets of $4.9M (revenue +2.3% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.4M, and assets of $4.9M (revenue -18.0% year-over-year).
- 2013: Revenue of $1.6M, expenses of $1.6M, and assets of $4.9M (revenue +7.2% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.5M, and assets of $4.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Champlain Maritime Museum At Basin Harbor Incorporated:
Data Sources and Methodology
This transparency report for Lake Champlain Maritime Museum At Basin Harbor Incorporated 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.