2026-02-05T08:06:41-06:00 2025-03-31 992277914 EAG NEW ENGLAND LLC 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2024-04-01 042505888 USS CONSTITUTION MUSEUM INC USSC 6174261812 PO BOX 291812 BOSTON MA 02129 JACQUELINE HIBBARD EVP/COO/CFO 6174261812 2026-02-04 1 0 EUGENE BORGONZI P01269879 6172276161 2024 2025-03-06 01:10:19Z JEFFREY DRAEGER PO BOX 291812 BOSTON MA 02129 5710280 0 X HTTPS://USSCONSTITUTIONMUSEUM.ORG X 1972 MA THE USS CONSTITUTION MUSEUM SERVES AS THE MEMORY AND EDUCATIONAL VOICE OF USS CONSTITUTION. 21 21 46 62 52097 39856 2836611 2243696 1017542 1070417 1101700 451638 288191 315584 5244044 4081335 0 0 0 0 2210185 2480755 248000 306000 1051865 1595912 1389415 4054097 4176170 1189947 -94835 14797709 15416729 573247 808534 14224462 14608195 THE USS CONSTITUTION MUSEUM ENGAGES ALL AGES IN THE STORY OF "OLD IRONSIDES" TO SPARK EXCITEMENT ABOUT MARITIME HERITAGE, NAVAL SERVICE, AND THE AMERICAN EXPERIENCE. 0 0 1541196 0 1320328 EDUCATION/VISITATION THE USS CONSTITUTION MUSEUM WELCOMED 320,880 VISITORS DURING FY25, INCLUDING OVER 19,000 STUDENTS WHO EITHER VISITED AS PART OF ORGANIZED SCHOOL, CAMP OR GROUP VISITS OR PARTICIPATED IN A VIRTUAL FIELD TRIP. THE MUSEUM IS OPEN 7 DAYS PER WEEK AND CHARGES NO SET ADMISSION FEE TO ENSURE THAT ALL WHO WISH TO LEARN ABOUT USS CONSTITUTION CAN VISIT. WE ALSO SHARE CONSTITUTION'S STORY WITH A NATIONAL AUDIENCE THROUGH A VARIETY OF ONLINE ACTIVITIES, EDUCATIONAL PROGRAMS AND VIRTUAL FIELD TRIPS. TRIPADVISOR NAMED THE MUSEUM A 2024 "TRAVELER'S CHOICE" BASED ON VISITOR REVIEWS THAT PLACE THE MUSEUM AMONG THE TOP 10% OF ATTRACTIONS WORLDWIDE. 632968 0 0 EXHIBITS - THE MUSEUM'S PARTICIPATORY EXHIBITS CONSISTENTLY RECEIVE HIGH MARKS FROM OUR GUESTS. "ALL HANDS ON DECK" IS AN AWARD-WINNING, HANDS-ON EXHIBIT ABOUT THE 1812 CREW. "FOREST TO FRIGATE" COMBINES HISTORY AND STEM CHALLENGES TO EXPLORE SHIP DESIGN AND CONSTRUCTION. "OLD IRONSIDES IN WAR IN PEACE" TRACES CONSTITUTION'S 225 YEAR HISTORY. "HONOR, COURAGE, COMMITMENT" TRACES THE JOURNEY OF NAVY SAILORS FROM ENLISTMENT TO BOOT CAMP TO JOINING THE FLEET AROUND THE WORLD. "JOIN THE CREW" IS AN INTERACTIVE ONLINE EXHIBIT. IN FY25, THE MUSEUM HOSTED THE 45TH ANNUAL MASTERS OF MINIATURE MODEL SHOW HIGHLIGHTING 250 YEARS OF US NAVY SHIPS. 355343 0 44975 COLLECTIONS - THE MUSEUM HOUSES THE LARGEST COLLECTION OF USS CONSTITUTION-RELATED OBJECTS IN THE WORLD WITH NEARLY 2,000 ARTIFACTS AND OVER 10,000 ARCHIVAL MATERIALS. A 2,400 VOLUME LIBRARY IS AVAILABLE TO RESEARCHERS, STUDENTS AND THE PUBLIC BY APPOINTMENT. THE MUSEUM PROTECTS, PRESERVES AND DISPLAYS SELECTIONS OF ITS COMPREHENSIVE COLLECTION OF MATERIAL RELATED TO "OLD IRONSIDES." IN FY25, THE CURATORIAL TEAM PROTOTYPED TWO NEW PROGRAMS TO SHARE THE MUSEUM'S COLLECTION AND CONSTITUTION'S HISTORY WITH THE PUBLIC: "VAULT TO VESSEL" BEHIND-THE-SCENES TOURS IN THE SUMMER AND FALL AND "SAILING THROUGH HISTORY" VIRTUAL DISCUSSIONS DURING THE WINTER WITH THE MUSEUM'S PUBLIC HISTORIAN ABOUT TOPICS IN THE SHIP'S HISTORY. 2529507 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 21 0 46 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY X JACQUELINE HIBBARD 6174261812 USS CONSTITUTION MUSEUM CHARLESTOWN BOSTON MA 02129 DANIEL E SMITH VICE CHAIRMAN/DIRECTOR 4.00 X X 0 0 0 ALISON NOLAN VICE CHAIRMAN/DIRECTOR 4.00 X X 0 0 0 W KARL BAKER DIRECTOR 2.00 X 0 0 0 BRUCE A BLESSINGTON-VICE CHAIR TREASURER (TIL 9/25/24)/DIRECTOR 4.00 X X 0 0 0 PAUL B FERRARO DIRECTOR 2.00 X 0 0 0 NANCY KELLEHER SECRETARY (APPT 9/25/24)/DIRECTOR 2.00 X X 0 0 0 DENNIS J LANGWELL CHAIRMAN/DIRECTOR 4.00 X X 0 0 0 FRANK MORSE DIRECTOR 2.00 X 0 0 0 WILLIAM PHIPPS RICE JR DIRECTOR 2.00 X 0 0 0 JENNIFER ROSSI DIRECTOR 2.00 X 0 0 0 MEGAN SNIFFIN-MARINOFF SECRETARY/DIRECTOR (UNTIL 9/25/24) 2.00 X X 0 0 0 MATTHEW P STACKPOLE DIRECTOR (UNTIL 9/25/24) 2.00 X 0 0 0 CHRISTOPHER S WISEMAN DIRECTOR 2.00 X 0 0 0 THOMAS V HENNESSEY JR DIRECTOR 2.00 X 0 0 0 LOIS SIEGELMAN DIRECTOR 4.00 X 0 0 0 TAYLOR B WAGENSEIL DIRECTOR (UNTIL 5/23/24) 2.00 X 0 0 0 RICHARD D BATCHELDER JR DIRECTOR 2.00 X 0 0 0 NIRAV G DESAI DIRECTOR 2.00 X 0 0 0 MARY JO MAJORS DIRECTOR (UNTIL 3/20/25) 2.00 X 0 0 0 JAMES F MCHUGH III DIRECTOR 2.00 X 0 0 0 JESSICA STEBBINS DIRECTOR 2.00 X 0 0 0 JOHN FITZGERALD DIRECTOR 2.00 X 0 0 0 DEAN H STEEGER TREASURER(APPT. 9/25/24)/DIRECTOR 4.00 X X 0 0 0 DENNIS J WHITE DIRECTOR 4.00 X 0 0 0 KENYON P KELLOGG III DIRECTOR (APPT. 9/25/24) 2.00 X 0 0 0 ANNE GRIMES RAND PRESIDENT/CEO 40.00 X 213987 0 27207 JACQUELINE HIBBARD SVP/COO/CFO 40.00 X 196712 0 19670 SARAH WATKINS SVP/CHIEF EXPERIENCE OFFICER 40.00 X 126866 0 25583 SHARLENE SONES - DIRECTOR OF MARKETING & COMMUNICATIONS 40.00 X 101808 0 12884 KATHRYN TODD CHIEF DEVELOPMENT OFFICER 40.00 X 167113 0 13350 806486 0 98694 5 0 1 0 CCS FUNDRAISING 155 FEDERAL ST 306 BOSTON MA 02110 PROFESSIONAL FUNDRAISING 286000 CAMBRIDGE SEVEN ASSOCIATES 20 UNIVERSITY ROAD CAMBRIDGE MA 02138 EXHIBIT DESIGN/ARCHITECTS 107073 2 35780 333723 555267 1318926 84704 2243696 ADMISSIONS 900099 1025442 1025442 CURATORIAL 900099 44975 44975 1070417 386450 386450 15962 0 15962 15962 15962 1514417 1449229 65188 65188 65188 61312 333723 108673 -47361 -47361 418026 71043 346983 294886 52097 4081335 1365303 52097 420239 470453 179512 191903 99038 1675142 1198453 112711 363978 22709 18937 3772 150900 115570 9746 25584 161551 109257 21710 30584 8524 5110 3414 84103 84103 60000 60000 306000 306000 36091 36091 224228 96105 55989 72134 16262 16262 59362 34925 13925 10512 129381 79242 20826 29313 366773 336320 15555 14898 11889 3928 2443 5518 93308 93308 123192 122479 713 73913 68739 3696 1478 FEDERAL & STATE UBI TAX 9200 9200 COLLECTIONS, EXHIBITS & 54369 54369 BANK & CREDIT CARD FEES 27294 182 4898 22214 MEMBERSHIP DUES & SUBSC 9811 1919 6892 1000 1715 1715 4176170 2529507 594798 1051865 913848 1266255 2446183 2396734 439431 275576 24881 28899 28972 81839 24901 31543 5259407 4151350 1040672 1108057 8861349 10189751 19720 7051 997752 31024 14797709 15416729 424823 336754 7001 7075 141423 464705 573247 808534 X 3227696 3497795 10996766 11110400 14224462 14608195 14797709 15416729 X -94835 490566 -11998 X X 0 1 X 1 0 X 2165544 3387299 2078512 2836611 2243696 12711662 68281 99271 11902 0 0 179454 2233825 3486570 2090414 2836611 2243696 12891116 3433292 9457824 131489 254032 181993 256084 402412 1226010 669 17806 24789 27586 40856 111706 14228832 5384337 0.66470 0.66720 X SCHEDULE A PART II SECTION A LINE 1 THE AMOUNT OF CONTRIBUTIONS REPORTED FOR TAX YEARS 2021 & 2022 (LINES 1(B) & 1(C)) HAVE BEEN ADJUSTED FROM WHAT WAS REPORTED ON THOSE YEARS ORIGINAL RETURNS TO REFLECT THE LOSS ON UNCOLLECTIBLE PLEDGES OF $3,000 & $15,000, RESPECTIVELY, THAT HAVE BEEN REPORTED ON PART XI LINE 9 AND THE RELATED DETAIL ON SCHEDULE O ON THE 2022 AND 2023 TAX YEAR FORMS 990, RESPECTIVELY. THE $3,000 OF UNCOLLECTIBLE PLEDGES RELATED TO FY22 (TAX YEAR 2021) AND THE $15,000 OF UNCOLLECTIBLE PLEDGES RELATED TO FY23 (TAX YEAR 2022). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 72034 72034 3743752 3815786 340789 85197 0 0 323023 337901 340789 1001713 1502570 66397 71592 72034 210023 80756 84475 85197 250428 375642 0 0 0 0 X X X 0 8627334 951770 799597 383266 9995435 7747148 8000 1207471 335285 8627334 8926752 4716 -842104 342216 7747148 8517963 92952 623961 308124 8926752 6244539 95752 2478224 300552 8517963 0.06552 0.50680 0.42768 0 0 2859849 1814029 1045820 336314 285834 50480 2063244 2051487 11757 1108057 ANNUITY PAYABLE 100348 OPERATING LEASE LIABILITY 31024 REFUNDABLE ADVANCES 333333 464705 X 4979401 490566 275873 167718 934157 4045244 36091 36091 4081335 4595668 275873 179716 455589 4140079 36091 36091 4176170 PART III, LINE 1A: THE MUSEUM'S COLLECTIONS ARE NOT REFLECTED ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASED ADDITIONS TO THE COLLECTIONS ARE RECORDED AS EXPENSES AT THE TIME ACQUIRED. THE COLLECTION IS DEEMED INEXHAUSTIBLE. THE COLLECTION IS MAINTAINED FOR EDUCATION AND RESEARCH AND FURTHERANCE OF THE MUSEUM'S GOALS RATHER THAN FINANCIAL GAIN. THE COLLECTION IS PROTECTED, KEPT UNENCUMBERED AND IS SUBJECT TO AN ORGANIZATIONAL POLICY THAT ENCOURAGES PERMANENT POSSESSION. THE MUSEUM'S COLLECTIONS POLICY REQUIRES THAT PROCEEDS FROM THE SALE OF COLLECTION ITEMS BE USED FOR THE ACQUISITION OR DIRECT CARE OF COLLECTION ITEMS. DIRECT CARE INCLUDES, BUT IS NOT LIMITED TO, CONTRACT CONSERVATION AND CONSULTANT COSTS. PART III, LINE 4: THE MUSEUM COLLECTS, PRESERVES, DISPLAYS AND INTERPRETS ITEMS RELATED TO THE SAILING FRIGATE USS CONSTITUTION, THE OLDEST COMMISSIONED WARSHIP AFLOAT IN THE WORLD. THE MUSEUM HAS MORE THAN 10,000 ARTIFACTS AND ARCHIVAL MATERIALS IN ITS COLLECTION. MANY ARE ON DISPLAY IN THE GALLERIES AND HELP TELL THE STORIES OF USS CONSTITUTION AND THE MEN AND WOMEN WHO SERVED (AND STILL SERVE) ON BOARD HER. MANY ITEMS HAVE BEEN DIGITIZED AND ARE SHARED ON THE MUSEUM'S WEBSITE. PART V, LINE 4: THE PERMANENT AND QUASI ENDOWMENTS PROVIDE INCOME FOR THE MUSEUM FROM INTEREST AND DIVIDENDS FOR ITS EDUCATIONAL MISSION AND OPERATIONS. THE PURPOSE OF THE TEMPORARILY RESTRICTED ENDOWMENT IS TO PROVIDE FUNDING, WHEN APPROPRIATE, TO RENOVATE THE BUILDING AND PROVIDE SAILS, RIGGING AND OTHER SHIP RELATED IMPROVEMENTS FOR USS CONSTITUTION. PART X, LINE 2: THE MUSEUM IS SUBJECT TO THE PROVISIONS OF ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, AS IT RELATES TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. THE MUSEUM HAS ASSESSED ITS TAX POSITION TAKEN AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OF AN ASSET OR LIABILITY OR DISCLOSURE AS OF MARCH 31, 2025. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD (RETAIL OPERATIONS) 71,043. SPECIAL EVENTS 108,673. ANNUITY LIABILITY REVALUATION ADJUSTMENT -11,998. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD (RETAIL OPERATIONS) 71,043. SPECIAL EVENTS 108,673. X X X X X X 1 CCS FUNDRAISING 155 FEDERAL ST 306 BOSTON MA 02110 PROVIDE ASSESSMENT & CAPITAL CAMPAIGN ACTIVATION & MGMT. SER 0 0 306000 -306000 306000 -306000 MA NY GALA 378105 323664 54441 78670 12693 BUSH BREAKFAST 13830 10059 3771 8151 866 391935 333723 58212 86821 13559 100380 -42168 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE WRITTEN CONTRACT BETWEEN THE MUSEUM AND CCS FUNDRAISING PROVIDES FOR THE MUSEUM TO MAKE PAYMENTS FOR SERVICES RENDERED AS WELL AS REIMBURSEMENT OF PROJECT COSTS INCURRED BY CCS FUNDRAISING. THESE TWO ITEMS WILL BE SEPARATELY STATED ON EACH INVOICE, IF APPLICABLE. SECTION 3 OF THE CONTRACT'S APPENDIX STATES: CCS'S FEES DO NOT INCLUDE OUT-OF-POCKET PROJECT-RELATED EXPENSES, WHICH USSCM SHALL PAY SEPARATELY, AT COST. PROJECT EXPENSES INCURRED BY CCS EXECUTIVES AND ASSIGNED STAFF INCLUDE BUT ARE NOT LIMITED TO REASONABLE PROJECT-RELATED TRAVEL, TRANSPORTATION, MILEAGE, LODGING, MEALS, PRINTING, COURIER AND OTHER ANCILLARY AND OUT-OF-POCKET COSTS. PAYMENT FOR THE EXPENSES SHALL BE MADE TO CCS WITHIN THIRTY DAYS AFTER BEING INVOICED. DURING FISCAL YEAR ENDED MARCH 31, 2025, THERE WERE NO REIMBURSEABLE EXPENSES. THE FULL $306,000 WAS FOR SERVICES RENDERED. X X X 0 0 0 0 0 0 0 1 0 ANNE GRIMES RAND PRESIDENT/CEO 194091 0 19500 0 396 0 4492 0 22715 0 241194 0 0 0 JACQUELINE HIBBARD SVP/COO/CFO 183954 0 12500 0 258 0 4116 0 15554 0 216382 0 0 0 KATHRYN TODD CHIEF DEVELOPMENT OFFICER 166975 0 0 0 138 0 0 0 13350 0 180463 0 0 0 SARAH WATKINS SVP/CHIEF EXPERIENCE OFFICER 126608 0 0 0 258 0 2387 0 23196 0 152449 0 0 0 PART I, LINE 3 THE COMPENSATION FOR THE PRESIDENT/CEO OF THE MUSEUM IS SET BY THE BOARD OF TRUSTEES AND IS INCLUDED IN THE BUDGET PROCESS. ANY CHANGE IN SALARY IS REVIEWED BY THE COMPENSATION COMMITTEE AND IS SIGNED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES. SALARY SURVEY INFORMATION IS OBTAINED FROM THE NEW ENGLAND MUSEUM ASSOCIATION AND THE HUMAN RESOURCES CONSORTIUM OF THE CULTURAL INSTITUTIONS OF THE GREATER BOSTON AREA. PART I, LINE 7 THE PRESIDENT/CEO & SVP/CHIEF OPERATING & FINANCE OFFICER (COO/CFO) REPORTED IN PART VII, SECTION A, LINE 1A, RECEIVED PERFORMANCE-BASED ANNUAL BONUSES. THE PRESIDENT'S BONUS IS APPROVED BY THE COMPENSATION COMMITTEE AND THE SVP/COO/CFO'S BONUS IS APPROVED BY THE PRESIDENT. X 1 X 6 84704 MARKET QUOTATION X 4 0 0 1 0 PART I, COLUMN (B): THERE WERE 6 SEPARATE STOCK DONATIONS DURING THE FISCAL YEAR ENDED MARCH 31, 2025. ONE DONOR DONATED SHARES OF STOCK OF 3 DIFFERENT COMPANIES, AND THREE DONORS DONATED SHARES OF STOCK OF THREE DIFFERENT COMPANIES. PART I, LINE 33: SCHEDULE M, PART I, LINE 22 - HISTORICAL ARTIFACTS THE MUSEUM HAS ELECTED, AS PERMITTED UNDER ASC 958-360-25 (SFAS 116) NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET, THE DONATED WORKS OF ART AND HISTORICAL ARTIFACTS IT RECEIVES THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH. DURING FY25, THE MUSEUM RECEIVED 1 DONATED WORK OF ART AND 4 DONATED HISTORICAL ARTIFACTS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO AND THE SVP/COO/CFO REVIEW A DRAFT OF THE FORM 990 BEFORE IT'S FILED. A COPY OF THE DRAFT FORM 990 IS ALSO SENT VIA EMAIL TO ALL BOARD MEMBERS AT WHICH TIME THEY CAN ASK QUESTIONS OR MAKE COMMENTS ON THE DRAFT. FORM 990, PART VI, SECTION B, LINE 12C THE MUSEUM DISTRIBUTES THE CONFLICT OF INTEREST FORMS TO ALL TRUSTEES WHO MUST SIGN AND RETURN THE FORM. ANY CONFLICTS THAT ARISE WOULD BE HANDLED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE PRESIDENT/CEO OF THE MUSEUM IS SET BY THE BOARD OF TRUSTEES AND IS INCLUDED IN THE BUDGET PROCESS. ANY CHANGE IN SALARY IS REVIEWED BY THE COMPENSATION COMMITTEE AND IS SIGNED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE COMPENSATION FOR ALL OTHER STAFF IS SET THROUGH THE BUDGET PROCESS WHICH IS REVIEWED BY THE FINANCE COMMITTEE AND ULTIMATELY APPROVED BY THE BOARD OF TRUSTEES. THE PRESIDENT SIGNS ALL LETTERS OF HIRE. DEPARTMENT DIRECTORS SIGN THE SALARY FORM FOR CHANGES FOR PAYROLL PURPOSES. SALARY SURVEY INFORMATION IS OBTAINED FROM THE NEW ENGLAND MUSEUM ASSOCIATION AND THE HUMAN RESOURCES CONSORTIUM OF THE CULTURAL INSTITUTIONS OF THE GREATER BOSTON AREA. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ANNUITY LIABILITY REVALUATION ADJUSTMENT -11,998. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS FROM THE PRIOR YEAR. FORM 990, PART I, LINE 6 MEMBERS OF OUR BOARD OF DIRECTORS, LIFE TRUSTEES AND MEMBERS OF OUR BOARD OF OVERSEERS SERVE ON MUSEUM COMMITTEES AND SUPPORT OUR ANNUAL GALA. OTHER VOLUNTEERS ASSIST WITH VISITOR SERVICES, COLLECTIONS, MARKETING AND EVENTS. IN ADDITION, WE HAVE VOLUNTEERS FROM A MODELERS GUILD WHO BUILD SHIP MODELS IN OUR GALLERIES.