NATIONAL LIGHTHOUSE MUSEUM
Mission Statement
The National Lighthouse Museum collects, educates, and preserves the history and technology of the nation’s lighthouses and lightships. The Museum is located on the North Shore of Staten Island and on the historical site of the United States Lighthouse Service’s General Supply Depot where all tools and equipment used by lighthouse personnel was made, imported, and tested from 1864 until 1939. The Museum is housed in the Depot’s 1912 Foundry Building, one of the last seven buildings left. In 1997, a group of lighthouse enthusiasts and historians formed the American Lighthouse Coordinating Committee to choose a location as a central repository for all U.S. lighthouse history. Due to the importance of the General Depot site in lighthouse history and its prime location (a short walk from the Staten Island Ferry), Staten Island won the bid and title of National Lighthouse Museum one year later. The National Lighthouse Museum opened officially in August 2014 and plans on expanding into the adjacent 1907 Lamp Shop building within the next three years. This will coincide with the opening of the New York Wheel (a large observational wheel), shopping outlets, and hotels, which will significantly boost tourism to the area. The National Lighthouse Museum seeks funding to continue their education on the beauty, majesty and signal importance of Lighthouses.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
71.4% | 81.8% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
24.3% | 14.0% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
4.4% | 0.0% |
P10P90
|
Below median |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
30.8% | 28.6% |
P10P90
|
Below median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
5.2 mo | 10.4 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
16.6% | 1.9% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
84.8% | 79.8% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
7.1% | 9.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
12.1% | 13.6% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
7.0% | 1.2% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $358K | $333K | $144K | 71.4% | 6 |
| 2022 | $334K | $297K | $119K | 74.2% | 8 |
| 2021 | $244K | $223K | N/A | — | 4 |
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