Friends of the Viking Ship
Standards For Charity Accountability
Governance
-
Board Oversight
-
Board Size
-
Board Meetings
-
Board Compensation
-
Conflict of Interest
Measuring Effectiveness
-
Effectiveness Policy
-
Effectiveness Report
Finances
-
Program Expenses
-
Fundraising Expenses
-
Accumulating Funds
-
Audit Report
-
Detailed Expense Breakdown
-
Accurate Expense Reporting
-
Budget Plan
Fundraising & Info
-
Truthful Materials
-
Annual Report
-
Website Disclosures
-
Donor Privacy
-
Cause Marketing Disclosures
-
Complaints
Friends of the Viking Ship does not meet the following 2 Standards for Charity Accountability:
Standard 1 (Oversight of Operations and Staff)
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.
Friends of the Viking Ship does not meet this standard because:
The Board President also serves as the Treasurer as well as the Executive Director.
Standard 16 (Annual Report)
Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
Friends of the Viking Ship does not meet this standard because:
The annual report is missing the program, administrative, and fundraising expenses, as well as ending net assets in the financial summary.
Friends of the Viking Ship meets the remaining 18 Standards for Charity Accountability.
Stated Purpose:
The purpose of “Friends of the Viking Ship, N.F.P.” (FOVS) is: to facilitate the preservation of the 1893 Viking Ship as an important artifact from the Columbian Exposition, and to advocate its public display in a permanent museum setting with adequate security and climate control. To accomplish this goal, FOVS will raise funds for its protection and preservation, and for interpretation of its history. FOVS will also seek appropriate partners who share our mission of securing an optimal long-term home.
Year, State Incorporated:
2008, IL
Conducting Tours of the Viking Ship
The Viking ship exhibit is open between 10:00 AM and 4:30 PM on scheduled dates April through October. Docent led tours begin every 30 minutes. Visitors learn of Viking's construction, journey, and significance. Private group tours can be arranged (two-week lead time). Visitors learn of Viking's construction, journey, and significance.
Preservation of the 1893 Viking Ship
Currently FOVS continues to stabilize the ship. Emergency stabilization was provided in 2008. Stabilization of the keel was completed in 2014. Hull supports were installed in 2015. But the current
location of the Viking in Geneva, Illinois, is temporary. The ship is fragile and must be moved to a permanent site before exposure to time and the elements do permanent damage.
Educating the Public about our Ship and Viking History
In addition to informing others of the significance of the history of our ship, we also feel compelled to provide insight on Viking history, culture, and technology.
For the year ended December 31, 2023, Friends of the Viking Ship's program expenses were:
| Presentation/Education | $12,159 |
| Ship Preservation | $8,438 |
| Total Program Expenses | $20,597 |
Chief Executive
Bjorn Rektorli, Board President
Chair's Profession / Business Affiliation
Not disclosed
Board Size
11
Paid Staff Size
1
Method(s) Used:
Print advertisements (newspapers, magazines, etc.), Grant proposals, Internet, Membership appeals, Appeals via Social Media (Facebook, etc.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Friends of the Viking Ship's unaudited financial statements for the year ended December 31, 2023.
Source of Funds
| Contributions, gifts, and grants | $57,352 |
| Program service revenue | $14,485 |
| Other revenue | $9,479 |
| Gross profit from sales of inventory | $7,536 |
| Membership dues | $2,923 |
| Total Income | $91,775 |
Programs: 74% Fundraising: 8% Administrative: 18%
| Total Income | $91,775 |
| Total expenses: | $27,821 |
| Program expenses | $20,597 |
| Fundraising expenses | $2,261 |
| Administrative expenses | $4,963 |
| Other expenses | $0 |
| Income in Excess of Expenses | $63,954 |
| Beginning Net Assets | $358,321 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $422,275 |
| Total Liabilities | $684 |
| Total Assets | $422,959 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
-
Meets Standards
-
Standards Not Met
-
Did Not Disclose
-
Review in Progress
-
Unable to Verify
Report completed by:
BBB of Chicago & Northern Illinois