Nauticus Foundation FY2024 filing

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We exist to benefit our community through education, impactful experiences and by sharing access to maritime resources.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 54-1475802) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $2.4M a year · 36% of revenue · last 6 filings
A surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
85% of spending went to programs.
Pt IX · Ln 25 · col B
11.6 mo
of spending, in cash
11.6 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $602K
6 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$2.2M
11% of total assets
Liabilities are 11% of assets.
Pt X · Ln 26
Independent board members
18
of 18 voting members
18 of 18 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$10.9M
+17% vs prior year
Spent
$4.3M
To programs
85%
Net assets
$17.4M
By yearFY2020–FY2025
Revenue
$10.9M
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$4.7M
FY2022$7.5M
FY2023$9.3M
FY2024$10.9M
FY2025$6.0M
Expenses
$4.3M
FY2024▼ -58%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.0M
FY2022$2.5M
FY2023$10.2M
FY2024$4.3M
FY2025$4.4M
Net assets
$17.4M
FY2024▲ +62%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.7M
FY2021$6.5M
FY2022$11.6M
FY2023$10.7M
FY2024$17.4M
FY2025$19.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

You’re viewing the FY2024 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 May 1989.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $3.6M Management & general 9% · $379K Fundraising 6% · $248K

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

Something off? Claim to add context

Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Nauticus Foundation 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

Inspires and educates through interactive maritime experiences celebrating our connection to the sea.

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1 program · $3.6M · in their own filed words · FY2023
01

Nauticus is a maritime discovery center located along the waterfront in downtown, norfolk offering a unique form of experiential learning for all ages. Through interactive exhibits and stem to stern programming, Nauticus uses the museum, battleship wisconsin, sailing center, and schooner virginia to tell the story of the maritime…

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 54-1475802) · Dispute this line
$3.6Mprogram 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 · FY2024
See all 6 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$10.9M
Ln 12
Gifts and grantsLn 1h$8.1M
Fees for servicesLn 2g$1.9M
Other incomeLn 4–11$734K
Money outPt IX
$4.3M
Ln 25
Programscol B$3.6M
Managementcol C$379K
Fundraisingcol D$248K
Owns and owesPt X
$17.4M
net assets · Ln 32
Cash and savingsLn 1–2$4.1M
Total assetsLn 16$19.5M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.1M
Noncash giftsLn 1g$7K
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$124K
Other incomeLn 4–11$734K
Total revenueLn 12$10.9M
Assets in detailPt X, end of year
CashLn 1$4K
SavingsLn 2$4.1M
Cash and savings togetherLn 1–2$4.1M
Pledges and grants receivableLn 3$1.8M
Accounts receivableLn 4$440K
Inventories for sale or useLn 8$137K
Prepaid expenses and deferred chargesLn 9$84K
Land, buildings, equipmentLn 10c$12.3M
InvestmentsLn 11–13$701K
Other assetsLn 15$2K
Total assetsLn 16$19.5M
LiabilitiesLn 26$2.2M
Net assetsLn 32$17.4M
OperationsPt I, VI
EmployeesI 5137
VolunteersI 62,149
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.4M$4.1M
InvestmentsLn 11–13$630K$701K
Land, buildings, equipmentLn 10c$1.9M$12.3M
Total assetsLn 16$11.3M$19.5M
LiabilitiesLn 26$567K$2.2M
Net assetsLn 32$10.7M$17.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.7M$1.4M$197K$133K
Other employee benefitsLn 9$154K$130K$10K$15K
Payroll taxesLn 10$125K$104K$11K$10K
Legal feesLn 11b$180$122$58
Accounting feesLn 11c$65K$65K
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$146K$128K$13K$5K
Advertising and promotionLn 12$99K$98K$955
Office expensesLn 13$48K$44K$4K$338
TravelLn 17$43K$43K$432
Depreciation, depletion and amortizationLn 22$255K$255K
InsuranceLn 23$116K$104K$13K
Other expenses (24a–d)Ln 24$1.0M$1.0M$23K$5K
All other expensesLn 24e$489K$371K$39K$79K
Total functional expensesLn 25$4.3M$3.6M$379K$248K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $6.0M$4.4M$1.6M$19.0M 990 PDF
FY2024 ViewingFiled with the IRS May 15, 2025 $10.9M$4.3M$6.6M$17.4M 990 PDF
FY2023Filed with the IRS May 15, 2024 $9.3M$10.2M−$882K$10.7M 990 PDF
FY2022Filed with the IRS May 12, 2023 $7.5M$2.5M$5.0M$11.6M 990 PDF
FY2021Filed with the IRS May 16, 2022 $4.7M$2.0M$2.7M$6.5M 990 PDF
FY2020Filed with the IRS May 17, 2021 $2.2M$2.5M−$336K$3.7M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2024 990
Part I · Summary $10,876,320 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,710,906$8,072,437
I-9 Program service revenuePrior year $1,609,893$1,945,547
I-10 Investment incomePrior year $47,522$123,892
I-11 Other revenuePrior year $918,057$734,444
I-12 Total revenuePrior year $9,286,378$10,876,320
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,554,688$1,959,609
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,613,226$2,303,480
I-18 Total expensesPrior year $10,167,914$4,263,089
I-19 Revenue less expensesPrior year −$881,536$6,613,231
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $10,876,320 across 8 lines filed
Lines not itemized here account for $607,002 of total revenue; see the IRS return.
VIII-1d Related organizations$752,691
VIII-1f All other contributions, gifts and grants$7,319,746
VIII-1g Noncash contributions (included above)$7,023
VIII-1h Total contributions, gifts and grants$8,072,437
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,856,836$1,856,836
VIII-3 Investment incomeExcluded from tax $123,892$123,892
VIII-6 Net rental income or lossExcluded from tax $216,153$216,153
VIII-12 Total revenueRelated to mission $2,463,838 · Unrelated business $0 · Excluded from tax $340,045$10,876,320
Part IX · Statement of functional expenses $4,263,089 across 14 lines filed
IX-7 Other salaries and wagesPrograms $1,350,001 · Management $197,187 · Fundraising $133,186$1,680,374
IX-9 Other employee benefitsPrograms $129,660 · Management $9,674 · Fundraising $15,069$154,403
IX-10 Payroll taxesPrograms $103,788 · Management $11,206 · Fundraising $9,838$124,832
IX-11b Legal feesPrograms $122 · Management $58$180
IX-11c Accounting feesManagement $64,603$64,603
IX-11f Investment management feesManagement $3,747$3,747
IX-11g Other fees for servicesPrograms $127,609 · Management $13,081 · Fundraising $4,924$145,614
IX-12 Advertising and promotionPrograms $98,345 · Fundraising $955$99,300
IX-13 Office expensesPrograms $43,811 · Management $3,982 · Fundraising $338$48,131
IX-17 TravelPrograms $42,751 · Management $432$43,183
IX-22 Depreciation, depletion and amortizationPrograms $254,674$254,674
IX-23 InsurancePrograms $103,657 · Management $12,812$116,469
IX-24 Other expenses (24a–d)Programs $1,011,257 · Management $22,896 · Fundraising $4,612$1,038,765
IX-24e All other expensesPrograms $370,617 · Management $39,068 · Fundraising $79,129$488,814
IX-25 Total functional expensesPrograms $3,636,292 · Management $378,746 · Fundraising $248,051$4,263,089
Part X · Balance sheet $19,539,913 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $4,175$4,175
X-2 Savings and temporary cash investmentsStart of year $5,425,156$4,102,515
X-3 Pledges and grants receivableStart of year $2,474,685$1,814,570
X-4 Accounts receivableStart of year $479,427$440,500
X-8 Inventories for sale or useStart of year $168,983$136,578
X-9 Prepaid expenses and deferred chargesStart of year $129,389$84,316
X-10c Land, buildings and equipment, netStart of year $1,938,670$12,254,522
X-11 Publicly traded securitiesStart of year $629,570$701,237
X-15 Other assetsStart of year $1,500$1,500
X-16 Total assetsStart of year $11,251,555$19,539,913
X-17 Accounts payable and accrued expensesStart of year $303,461$1,965,929
X-19 Deferred revenueStart of year $263,808$218,267
X-26 Total liabilitiesStart of year $567,269$2,184,196
X-27 Net assets without donor restrictionsStart of year $6,585,998$17,222,756
X-28 Net assets with donor restrictionsStart of year $4,098,288$132,961
X-32 Total net assets or fund balancesStart of year $10,684,286$17,355,717
X-33 Total liabilities and net assetsStart of year $11,251,555$19,539,913
Part XI · Reconciliation of net assets $17,355,717 net assets at year end
XI-1 Total revenue$10,876,320
XI-2 Total expenses$4,263,089
XI-3 Revenue less expenses$6,613,231
XI-4 Net assets at start of year$10,684,286
XI-5 Net unrealized gains (losses) on investments$58,200
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$17,355,717

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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