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Minnesota Lakes Maritime Society

EIN 41-1967683 · Alexandria, MN

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

LegitimacyPassesRegistration and standingFinancial healthFair55 out of 100GovernanceGood75 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

PROMOTE AND PRESERVE THE HISTORY AND CULTURE OF LAKE LIFE THROUGH INTERPRETIVE EXHIBITS, EDUCATIONAL PROGRAMS, COLLECTIONS MANAGEMENT AND SPECIAL EVENTS.

Income
$565,207
Spending
$661,522
Spent on programs
82%
Reserves
5.4 months of spending
Largest source of income
donations and private grants, 79%
Employees
8
Volunteers
140

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

Fair: 55 out of 100. Higher than 23% of charities in its peer group (arts and culture, $250k to $1m).

  • Reserves

    20 of 35

    Spendable reserves would cover 5.4 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 17% of income.

  • Income trend

    0 of 15

    Income fell 63% on the year before.

  • Spending floor

    15 of 15

    82% 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

Good: 75 out of 100. Higher than 52% of charities in its peer group (arts and culture, $250k to $1m).

  • Independent board

    25 of 25

    13 of 13 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a 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

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

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

  • 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 (3)
  1. $437,821 spent. THE MUSEUM EXPERIENCED CONTINUED ATTENDANCE GROWTH. OUR OPEN SEASON IS MID-MAY THROUGH OCTOBER. IN 2024, MUSEUM ATTENDANCE WAS 5,690 THE MOST GUESTS SINCE WE OPENED IN 2006. THE NUMBER OF FREE ADMISSIONS ROSE FROM 1,196 IN 2023 TO 1,986 IN 2024 BECAUSE OF FOCUSED INITIATIVES TO REMOVE FINANCIAL BARRIERS TO VISITING THE MUSEUM. IN ADDITION TO INCREASING ATTENDANCE, ANECDOTAL OBSERVATIONS INDICATE THAT THE AUDIENCE WAS MORE DIVERSE THAN REGULARLY VISITS THE MUSEUM. OVER 12,800 INDIVIDUALS ENJOYED EVENTS, EDUCATION CLASSES, AND COMMUNITY GATHERINGS IN LEGACY GARDENS.
  2. $96,680 spent. THE FINANCIAL SUSTAINABILITY AND STABILITY OF THE MUSEUM IMPROVED. AN INDEPENDENT CPA AUDITED OUR 2022 AND 2023 FINANCIAL STATEMENTS AND FOUND NO MISSTATEMENTS. THE ORGANIZATION WAS VERBALLY COMPLIMENTED FOR THE HIGH QUALITY OF FINANCIAL MANAGEMENT AND OVERSIGHT. A FULL-TIME ADVANCEMENT DIRECTOR WAS ADDED TO STAFF AND SHE INCREASED SPONSORSHIP REVENUE BY 70% OR 31,300, EVENT REVENUE BY 45% OR 13,200 AND FUNDRAISER DONATIONS BY 8,000.
  3. $5,261 spent. EDUCATION PROGRAMS WERE INCREASED AND DIVERSIFIED. OVER 690 YOUTH AND ADULTS WERE SERVED BY 21 EDUCATIONAL ACTIVITIES ON AND OFF THE MUSEUM CAMPUS. NEW PROGRAMS INCLUDED A PADDLE-MAKING WORKSHOP AND A DAY CAMP HELD ON A NEARBY LAKE. PROGRAMS WERE OFTEN A PARTNERSHIP BETWEEN THE MUSEUM AND LOCAL INSTITUTIONS AND NONPROFIT ORGANIZATIONS. FIVE VIDEOS ON WOMEN RACE BOAT DRIVERS WERE VIEWED OVER 17,000 TIMES.

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 September 7, 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 September 30, 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 September 10, 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 September 7, 2026.

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

    Recognized by the IRS since December 2000.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 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 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.