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Bannermans Castle Trust Inc

EIN 06-1410979 · Glenham, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceFair56 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

WORK WITH NEW YORK STATE OFFICE OF PARKS, RECREATION AND HISTORIC PRESERVATION NYSOPRHP AS A FRIENDS ORGANIZATION. PROMOTE AWARENESS OF HISTORIC SITE. STABILIZE AND PRESERVE STRUCTURES

Income
$943,639
Spending
$750,276
Spent on programs
89%
Reserves
6.3 months of spending
Largest source of income
fees for its services, 66%
Employees
38
Volunteers
21
Highest pay
$67,600, executive dir.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 93 out of 100. Higher than 78% of charities in its peer group (arts and culture, $250k to $1m).

  • Reserves

    28 of 35

    Spendable reserves would cover 6.3 months of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 20% of income.

  • Income trend

    15 of 15

    Income rose 26% on the year before.

  • Spending floor

    15 of 15

    89% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 56 out of 100. Higher than 24% of charities in its peer group (arts and culture, $250k to $1m).

  • Independent board

    25 of 25

    8 of 8 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    0 of 5

    Reports that it does not keep minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $666,057 spent. The Organization?s ongoing education programs include the following projects: free slide shows with lectures, distribution of literature on Bannerman history, publication of a newsletter, maintenance of a website, a Facebook page, an Instagram page, and newspaper and radio interviews. A Visitor Center/Gallery in Beacon, NY features the work of the Hudson River Valley painters and photographers. Educational material is distributed for free and is also available for sale. Historical artifacts are also on view. Volunteers maintain and make improvements to the gardens on the island, as well as to the trails. Local businesses and the public provide materials for the gardens. Volunteers also assist with the kayak tours and fundraising events. A paid employee provides security and trail maintenance on the island during the May to October period. An annual fundraising event on the island is a gourmet dinner with donated services from the Chef?s Consortium. Theatrical performances and classic movies are also offered occasionally. With permission from NYSOPRHP, the Organization facilitates guided tours on the island for the public. The ?onisland? guided tours are 2 ? hours with a history lecture and question and answer sessions. Once a month, selfguided tours include live performances by local musicians. In 2024 the historical structure ?Stop Rest Bench? was completely restored with approval from State Historic Preservation Offices (SHPO), and dedicated in Memoriam to the Trust?s great friend Eleanor Owen Seeland who lived on the island as a child. A new window was installed at the entrance to the Bannerman Residence in honor of Roberta Atkins Reed and Marguerite Atkins Cassell. A new 30? by 30? outdoor classroom deck was completed along with stair repairs and a new concrete section to the North Trail that included railings. A new 40? x 10? floating dock for the island was installed for the Estuary Steward to land on Bannerman Island. This work was performed with 2024 funding of $107,000 from the Parks and Trails New York (https://ptny.org). The BCT provided a 10% match. 2024 marked the 30 Year Anniversary of the incorporation of the Bannerman's Castle Trust. The Trust celebrated this milestone with the renovation of its Beacon, NY Main Street Gallery, highlighting the history of Bannerman Island, and the Bannerman Castle Trust alongside contemporary and historical artworks. Of note is Frank Bannerman VI's 501 Broadway desk which was gifted to the Trust by the Bannerman-Betts-Colby family, and was fully restored by the Trust in 2024. The desk is currently on display with other Bannerman artifacts in the Bannerman Island Gallery through the end of 2025. The Gallery is located at 150 Main Street, Beacon, NY. In 2024 the Organization continued its popular Bannerman Island Tours on Friday, Saturday and Sunday from May - October 31. BCT presented 2 fundraising dinners, The Titanic Dinner on May 25 and the Chef's Farm to Table Dinner on September 7. Theatrical performances include the musical Always?Patsy Cline, Driving Miss Daisy and Dracula. There were 6 Third Sunday Music Concerts and 9 movies throughout the season.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1995.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

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