The Waterfront Museum FY2023 filing

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To provide arts and education programs, Waterfront access and promote historic preservation.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
$91K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $26K a year · 14% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$91K
to officers and key staff · 48% of spending
Concern: pay to officers and key staff is 48% of spending; over 30%.
Pt VII · Sec A
9 mo
of spending, in cash
Plus $268K in investments, Pt X · Ln 11–13
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$224K
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$177K
-16% vs prior year
Spent
$188K
To programs
69%
Net assets
$409K
By yearFY2020–FY2025
Revenue
$177K
FY2023▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$74K
FY2021$102K
FY2022$211K
FY2023$177K
FY2024$301K
FY2025$273K
Expenses
$188K
FY2023▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$144K
FY2021$146K
FY2022$156K
FY2023$188K
FY2024$172K
FY2025$175K
Net assets
$409K
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$408K
FY2021$365K
FY2022$420K
FY2023$409K
FY2024$538K
FY2025$635K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $130K Management & general 25% · $47K Fundraising 6% · $11K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $91K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$90,940Pt VII · Sec A
Board Chair/Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

David Sharps’s $87K as Museum Director is at the 81st percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
David Sharps$86,635$89,524$90,940$59,987$35,000$35,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Waterfront Museum executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers waterfront access and promotes historic preservation.

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2 programs · $130K · in their own filed words · FY2023
01

Showboat Performances

Diverse entertainment genres often include music, dance, film, circus, and puppetry. Art displayed on the walls enhance the coastal ambiance. Our focus is to collaborate with ny-based and local arts groups to help anchor red hook as a cultural destination. Admission costs vary from free to $35.

$82Kprogram expense
02

Maritime Education Initiative

The waterfront museum provides free and low-cost maritime education programs year-round in an inspiring and distinctive setting. These include free museum tours twice weekly; school, camp, senior and tourist group visits booked in advance; and research assistance for students, professors, journalists, and historians.

$48Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$177K
Ln 12
Gifts and grantsLn 1h$119K
Fees for servicesLn 2g$50K
Investment incomeLn 3$7K
Money outPt IX
$188K
Ln 25
Programscol B$130K
Managementcol C$47K
Fundraisingcol D$11K
Owns and owesPt X
$409K
net assets · Ln 32
Cash and savingsLn 1–2$138K
Total assetsLn 16$634K
LiabilitiesLn 26$224K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$119K
Government grantsLn 1e$69K
Noncash giftsLn 1g$775
Fees for servicesLn 2g$50K
Investment incomeLn 3$7K
Other incomeLn 4–11$90
Total revenueLn 12$177K
Assets in detailPt X, end of year
CashLn 1$38K
SavingsLn 2$101K
Cash and savings togetherLn 1–2$138K
Accounts receivableLn 4$640
Prepaid expenses and deferred chargesLn 9$853
Land, buildings, equipmentLn 10c$72K
InvestmentsLn 11–13$268K
Other assetsLn 15$154K
Total assetsLn 16$634K
LiabilitiesLn 26$224K
Net assetsLn 32$409K
OperationsPt I, VI
EmployeesI 53
VolunteersI 616
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$98K$138K
InvestmentsLn 11–13$261K$268K
Land, buildings, equipmentLn 10c$111K$72K
Total assetsLn 16$671K$634K
LiabilitiesLn 26$250K$224K
Net assetsLn 32$420K$409K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$35K$18K$14K$3K
Other salaries and wagesLn 7$8K$8K$0$0
Payroll taxesLn 10$4K$2K$1K$303
Accounting feesLn 11c$4K$0$4K$0
Other fees for servicesLn 11g$36K$28K$5K$2K
Advertising and promotionLn 12$1K$1K$0$0
OccupancyLn 16$41K$33K$6K$2K
TravelLn 17$111$0$111$0
Depreciation, depletion and amortizationLn 22$39K$32K$6K$2K
InsuranceLn 23$8K$5K$3K$637
Other expenses (24a–d)Ln 24$8K$4K$3K$330
All other expensesLn 24e$4K$305$4K$42
Total functional expensesLn 25$188K$130K$47K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jul 2, 2026 $273K$175K$97K$635K 990 PDF
FY2024Filed with the IRS Jul 23, 2025 $301K$172K$128K$538K 990 PDF
FY2023 ViewingFiled with the IRS Mar 28, 2024 $177K$188K−$11K$409K 990 PDF
FY2022Filed with the IRS Jul 13, 2023 $211K$156K$56K$420K 990 PDF
FY2021Filed with the IRS Oct 11, 2022 $102K$146K−$44K$365K 990 PDF
FY2020Filed with the IRS Jul 8, 2021 $74K$144K−$70K$408K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $176,745 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $169,163$119,337
I-9 Program service revenuePrior year $35,989$50,013
I-10 Investment incomePrior year $5,896$7,305
I-11 Other revenuePrior year $285$90
I-12 Total revenuePrior year $211,333$176,745
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $46,749$46,586
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $109,032$141,058
I-18 Total expensesPrior year $155,781$187,644
I-19 Revenue less expensesPrior year $55,552−$10,899
Part VI · Governance 7 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $176,745 across 8 lines filed
VIII-1e Government grants$68,960
VIII-1f All other contributions, gifts and grants$50,377
VIII-1g Noncash contributions (included above)$775
VIII-1h Total contributions, gifts and grants$119,337
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$50,013
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $7,305$7,305
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $90 · Unrelated business $0 · Excluded from tax $0$90
VIII-12 Total revenueRelated to mission $50,103 · Unrelated business $0 · Excluded from tax $7,305$176,745
Part IX · Statement of functional expenses $187,644 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $17,501 · Management $14,000 · Fundraising $3,499$35,000
IX-7 Other salaries and wagesPrograms $7,872 · Management $0 · Fundraising $0$7,872
IX-10 Payroll taxesPrograms $2,198 · Management $1,213 · Fundraising $303$3,714
IX-11c Accounting feesPrograms $0 · Management $4,500 · Fundraising $0$4,500
IX-11g Other fees for servicesPrograms $28,453 · Management $4,855 · Fundraising $2,240$35,548
IX-12 Advertising and promotionPrograms $1,178 · Management $0 · Fundraising $0$1,178
IX-16 OccupancyPrograms $32,513 · Management $6,096 · Fundraising $2,032$40,641
IX-17 TravelPrograms $0 · Management $111 · Fundraising $0$111
IX-22 Depreciation, depletion and amortizationPrograms $31,574 · Management $5,921 · Fundraising $1,973$39,468
IX-23 InsurancePrograms $4,616 · Management $2,546 · Fundraising $637$7,799
IX-24 Other expenses (24a–d)Programs $3,822 · Management $3,499 · Fundraising $330$7,651
IX-24e All other expensesPrograms $305 · Management $3,815 · Fundraising $42$4,162
IX-25 Total functional expensesPrograms $130,032 · Management $46,556 · Fundraising $11,056$187,644
Part X · Balance sheet $633,755 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $97,925$37,665
X-2 Savings and temporary cash investments$100,826
X-4 Accounts receivableStart of year $5,240$640
X-9 Prepaid expenses and deferred chargesStart of year $1,233$853
X-10c Land, buildings and equipment, netStart of year $111,076$71,608
X-12 Other securitiesStart of year $261,216$267,686
X-15 Other assetsStart of year $178,833$154,477
X-16 Total assetsStart of year $670,523$633,755
X-17 Accounts payable and accrued expensesStart of year $6,874$5,361
X-25 Other liabilitiesStart of year $243,333$218,977
X-26 Total liabilitiesStart of year $250,207$224,338
X-27 Net assets without donor restrictionsStart of year $420,316$409,417
X-32 Total net assets or fund balancesStart of year $420,316$409,417
X-33 Total liabilities and net assetsStart of year $670,523$633,755
Part XI · Reconciliation of net assets $409,417 net assets at year end
XI-1 Total revenue$176,745
XI-2 Total expenses$187,644
XI-3 Revenue less expenses−$10,899
XI-4 Net assets at start of year$420,316
XI-10 Net assets at end of year$409,417

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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