2020 Year in Review

NATIONAL COAST
GUARD MUSEUM
ASSOCIATION
STATEMENTS OF
FINANCIAL POSITION
FOR FISCAL YEARS
ENDING DECEMBER 31
FINANCIAL
REPORT
SUMMARY OF ACTIVITY
The highlights of our most recent audited financials are set forth below. This financial report reflects the continued
momentum achieved through the concerted efforts of our committed directors, officers, expanded staff and
volunteers, who have given so generously of their time and resources to assist us. Fully audited financial
statements and our most recent IRS Form 990 are available at coastguardmusuem.org/annualreport.
ASSETS
CURRENT ASSETS 2019 2018
Cash and cash equivalents $930,718 $2,786,822
Investments 1,746,330 1,734,855
Pledges and grants receivable, net 2,106,019 1,834,582
Inventory 64,754 65,448
Prepaid expense 17,568 3,744
Total current assets 4,865,389 6,425,451
PROPERTY & EQUIPMENT 18,505 12,289
OTHER ASSETS
Construction in progress 7,677,836 4,702,152
Pledges receivable, less current portion, net 3,212,427 2,480,489
Other assets 2,682 2,600
Total other assets 10,892,945 7,185,241
TOTAL ASSETS $15,776,839 $13,622,981
Left: CAPE MAY, NJ - Petty
Officer 1st Class Daniel
Pleskonko receives recognition
as a reservist company
commander at U.S. Coast Guard
Training on August 8, 2020.
(U.S. Coast Guard photo by
Seaman Josalyn Brown)
Right: A Coast Guard MH-60
Jayhawk helicopter visits Coast
Guard Air Station Miami at
Opa-locka Executive Airport in
Florida. (Coast Guard photo by
Auxiliarist Joseph Feldman)
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Accounts payable $370,219 $938,906
Accrued expenses 149,322 46,632
Total current liabilities 519,541 985,538
NET ASSETS
Without donor restrictions 12,039,569 10,156,954
With donor restrictions 3,217,729 2,480,489
Total net assets 15,257,298 12,637,443
Total liabilities and net assets $15,776,839 $13,622,981
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NATIONAL COAST GUARD MUSEUM ASSOCIATION