2005-2006 annual report “What I am looking for is the greatest of all sensations, namely, the Bolero feeling under sail.” ~ John Nicholas Brown, original owner

“There is something mystical about her.” ~ Ed Kane, current owner and restorer

The above quotes about Bolero (our cover image) come from Mystic Seaport’s recently published book titled In a Class By Herself: The Yawl Bolero and the Passion for Craftsmanship, written by John Rousmaniere.

Cover Image: BOLERO, 1954 © Mystic Seaport ~ Rosenfeld Collection #141160F

M YSTIC SEAPORT 2005 – 2006 ANNUAL REPORT

The Art of the Sea Nowhere else is the power, drama and beauty of wind, sail and sea captured so brilliantly. Comprising nearly one million photographs, the Rosenfeld Collection at Mystic Seaport is the largest single collection of maritime photography in the world. These stunning works of art, caught in time by two generations of the Rosenfeld family, capture the essence of the maritime experience.

M Y S T I C S E A P ORT A N N U A L R E P ORT 5 with your help, the Museum raised es is the coming together of so many so of together coming the is es , easur d, I want to emphasize that we are commit- war tant tr tant ocess for now powered by silent electric batteries – part of our ongo- our of part – batteries electric silent by powered now , of so many others, Mystic Seaport has been able to sustain t oup, and thank you for your continuing support of this wonderful and wonderful this of support continuing your for you thank and oup, Necessity One of the most impor most the of One . and the suppor of this gr this of t t tant uses. and vast and varied collections. This past year y ogramming. As we move this pr eserving and interpreting what already exists and is precious and distinctive to the special ow this uplifting enterprise. are devoting more attention than ever to providing visitors with inspiring, compelling experiences, Message Message from the Chairman of the Board of Trustees e hope to see you soon at Mystic Seaport. our Crucial Support Role William D. William Forster unique institution. I and gr par being for you Thank Mystic Seaport is a combination of marvelous maritime related treasures – all gathered on a most beau- most a on gathered all – treasures related maritime marvelous of combination a is Seaport Mystic River Mystic the along site tiful build to order in donors and members remain and become to chosen have who individuals enthusiastic $1.3 million for the 2005-06 Annual Fund, along with very substantial additional funds range of other impor for a wide Because of your suppor and enhance its remarkable educational activities, its unique Preservation maritime librar Shipyard, its extensive sanctuary that is Mystic Seaport. Y Advisors are being joined by internationally acclaimed experts exhibits and pr in considering specific additional ted to pr W including bold new programs for school age children. Staff, Trustees and our National Council of These are but two examples of the sometimes low-key but significant improvements in the visitor expe- visitor the in improvements significant but low-key sometimes the of examples two but are These rience that are constantly taking place – first behind the scenes, and then in full view for all to enjoy. Looking Ahead here recently with your children or grandchildren, then you also know that there are more and more opportunities throughout the Museum for them to exercise their nautical imaginations in active ways. the river aboard our 1923 launch 1923 our aboard river the ing commitment to being sensitive to the environment in all we do. This free water shuttle between the been you’ve if And offering. public our of part permanent a be will campus the of ends south and north If you visited Mystic you Seaport probably this had summer, a chance to experience the Museum from Dear Fellow Mystic Seaport Members and Friends, A T R O P E

R A Letter from the President L A U N N A T R O P A E S C I T

S Dear Members and Friends of Mystic Seaport: Y M It is with great pride and pleasure that I present to you the Annual Report of Mystic Seaport for the 6 2005-2006 fiscal year which ended April 28, 2006. This report recognizes the many individuals who have contributed so vitally to the health of our Museum. On behalf of a dedicated and hardworking staff, I thank all who are listed here for your ongoing support. Thanks to your donations of time and treasure, we have been able to provide our visitors with entertaining and enlightening experiences, new and innovative educational programs and exhibits, as well as the regular panoply of Museum activities and services.

During the year 2005-2006, we capped off the celebration of the Museum’s 75th anniversary with a num- ber of special events and exhibits that brought new visitors and guests to our grounds. The Museum was featured in a wide range of publications, both local and international, and coverage of our new exhibits was especially gratifying. Capping it all was the renewal of the Museum’s accreditation by the American Association of Museums, which is in itself a strong endorsement of our programs, our mission and our operations.

A new breeze is freshening and the Museum is on an exciting course to a future state where it will be as good as always and better than ever. We aspire to add to our exhibiting capabilities to the point where we can operate as a Museum in the fullest sense of the word, regardless of season or weather. When we are done we can promise you an even more inspiring and ever evolving testimonial to American spirit and character, rooted in the nation’s proud sea history and extending to this day and forward.

We are extremely grateful to the people named here for their support throughout fiscal year 2005-2006. While it was a particularly challenging year, we remain optimistic that Mystic Seaport will continue to reflect excellence given the strength of its Board of Trustees, its National Council of Advisors, its talent- ed staff, its strong corps of volunteers and the generous and enthusiastic support of its many members and friends. My sincere thanks to you all for your dedication to our Museum.

Cordially yours,

Douglas H. Teeson, RADM USCG (Ret) President and Director

M Y S T I C S E A P ORT A N N U A L R E P ORT 9 awl of the y Ted Hood: Ted How Boats America and The Art of the Boat: two of the exhibits , oduction of family friendly In a Class by Herself: The Y conveys in very unique ways the commemorative book and y muda Women Women and the Sea ed artists in several shows ably arranged by Magazine; the intr eception and birthday party was sponsored by t . and -long celebration of the 75th anniversar th to Ber Ber egional law firm of Robinson & Cole, and Coca-Cola of A s featuring platinum palladium prints from the glory days of e’ and the 75th anniversar Mystic Seapor ; ominent r ice President of Collections and Research Paul O’Pecko four very impres- very four O’Pecko Paul Research and Collections of President ice exhibited new works by featur ed by the pr John Rousmanier t ; oduction of the new Sea Dogs! Great Tails of the Sea, New England. In addition, a gala cocktail r n y; the intr at Mystic Seapor and the Passion for Craftsmanship y with interactive learning stations providing fun for young and old alike, and o ough Hand and Eye chestra. Later in the summer we concluded our year ashington, DC. non-profit organization that actively protects the oceans by equipping luxurynon-profit organization that actively protects yachts, other vessels and itime histor Other notable summer happenings included the celebration of the 50th anniversary Munson Institute of of American Maritime Studies, our intensive six-week the graduate level program in mar- Frank C. prominent local leaders Joyce Resnikoff and Anthony Silvestri, with donations from the Mohegan Sun, Bill by provided music with Eden, of Garden Adam’s and Commerce of Chamber Mystic Lab, Photo ABC Mills jazz trio. Both events attracted new friends to the Museum. Movie Nights on the Green featuring full length movies with a maritime theme; the ground breaking Museum’s founding Museum’s with two special events. The first, which celebrated the Rosenfeld exhibit, was the Rosenfeld Revue, sponsor Southeaster platforms around the world with sophisticated ocean and atmospheric monitoring sensors. This influen- tial group enjoyed a weekend of activities culminating with a Ball Yachtsmen’s featuring a or 20-piece In August 2005, Mystic Seaport hosted its first fleet gathering of the International SeaKeepers Society, a the Sea: Treasures from the Collections the of Sea: Mystic Treasures Seaport Celebrations and Special Events sive books were added to the Museum’s long list of publications: Ted Hood and Michael Levitt, Michael and Hood Ted publications: of list long Museum’s the to added were books sive Thr Boler Publications V of leadership able the Under Galler Meanwhile, both we launched here in the past few years, are enjoying successful runs at other museums. The Maritime Photographs from the Rosenfeld Collection and Exhibitions of Director by fruition to brought and managed ably were projects three These yachting. Interpretation Jonathan Shay. daunting challenges faced by black mariners and how they suffered, labored to improve conditions and, in many cases, led lives of success and triumph. New exhibits for 2005-2006 also included Float New Exhibits Black Hands, Blue Seas: The Maritime Heritage of African Americans of major celebrations, exciting special events and fascinating special projects are described in the report the in described are projects special fascinating and events special exciting celebrations, major of that follows. This past year saw added momentum in Mystic Seaport’s endeavors to continually renew and number visitors and patrons. members, a exhibits, new publications, New refresh to the Museum’s what it offers President’s President’s Report, May 2005 ~ April 2006 our new director, Jeanne Potter, who came to W us from the Corcoran College of Art and Design in T R O P E R L A U N N A T R

O ceremony for the new Marine Science Center for the Williams-Mystic Program named in honor of P A

E Williams-Mystic Director Dr. James T. Carlton; and, the thrilling periodic updates from the barque S C I Picton Castle, a square-rigger sailing through waters where the Charles W. Morgan sailed over 164 years T S Y ago. M

10 Special Projects Meanwhile, back at the Museum, a number of important construction projects moved forward, including the next phase of the adaptive re-use of the old Rossie Velvet Mill with improvements to its streetside appearance and pedestrian safety, as well as increased high-quality space for collections storage. Construction of the marine science building for Williams Mystic, the Maritime Studies Program of Williams College and Mystic Seaport is progressing nicely, and the brand new lift dock at the Henry B. duPont Preservation Shipyard is on track for completion in 2007.

Other projects of note include the continuing restoration of the eastern rig dragger Roann taking place in the main shop at the Shipyard, and the completion of the restoration of the sandbagger Annie. These projects are overseen by Museum Shipyard Director Quentin Snediker. Thanks to the generosity of a number of Museum friends, Annie took to the water under sail in September for the first time in nearly 100 years! Under the direction of Director of Watercraft Services Dick Lotz, the launches Liberty and Necessity gave Museum visitors an on-the-water river experience in the form of a free shuttle service from one end of the campus to the other. Meanwhile, our young visitors enjoyed climbing on our shoreside fleet in the Children’s Playscape opposite the Planetarium entrance.

Outreach Throughout the year, a series of special events were held off campus to broaden the base of Museum friends. Williams-Mystic alumna Barbara Burgess hosted a lovely gathering in the Boston area, Trustee Taylor Allen graciously invited a number of new friends to greet Brilliant as she put into Rockport, Maine and Michael and Veronica Stubbs also welcomed Brilliant to their Brooklin, Maine waterfront home. Olin Stephens and Dan Fogelberg topped the guest list. As part of the celebration of their new Whaling Museum, the Nantucket Historical Society challenged Mystic Seaport staff to a whaleboat race. Over 200 people gathered at Jetties Beach to cheer on their favorite team. Before winning handily, the Mystic Seaport squad gave a demonstration on how to rig, man and handle a whaleboat.

Our annual recognition dinner for leading donors was held this year at the spectacular Morgan Point lighthouse home of Jason and Rena Pilalas. Late February and early March found Lisa Reed and me vis- iting a number of the Museum’s friends in southern Florida. Special gatherings were held in Naples, Ocean Reef, and Harbor Branch Oceanographic Institute at which we gave updates on Museum happen- ings and received feedback on proposed future projects and plans. Generous hostings and important door-openings were provided by Mystic Seaport Trustees and Advisors, including Steve Campbell, David Coffin, Chet Kitchings, Don McGraw, Hugh Pierce and Bowen Smith.

Education Under the direction of Vice President for Education and Public Programs Susan S. Funk, the Museum was successful in its quest for re-accreditation by the American Association of Museums. Renewed every ten years, this designation is awarded after an exhaustive self-assessment and two intensive days of study.

12 M Y S T I C S E A P ORT A N N U A L R E P ORT uled. In addition, Westlawn and the Museum have joined together to form the North American Boat American North the form to together joined have Museum the Westlawnand addition, In uled. sched- currently is year third a and years consecutive two for programs educational ABYC hosted has Council Yacht and Boat American the Seaport Mystic years. of 50 than more for craft small for standards safety affiliate writing been has which (ABYC), educational the is Westlawn 2005. of fall the in A make transfor and dollars endowment new raise to effort the where is This Museum? our for hold future the does What Forward Looking Seaport. Mystic at ever r be never can luminaries Museum three These Dock. Lift Preservation Clark Ros and Hays The and Endowment gener whose Clark, Hays lost we month, same the Later Seaport.” Mystic like place no is there and museums maritime of dozens visited and world the traveled have “I said, he when words own his in heard be could Museum our to timony Don’stes- 1997. in established Advisors, of Council National the of chairman first the and member ter char- a was Don 2006. another.June one in of away weeks passed in both Clark Hays and McGraw Don with members influential most its of two lost Advisors of Council National Our Sea. the and America of completion of the strategic planning process that set Mystic Seaport on the path to becoming the Museum ser anthr phil- valued and revered most our of three of year past this loss the for us prepared have could Nothing Legacies year’s last performance. surpassing of goal the toward track on is and February in Network Event (r dollars million a about by position financial Museum’s the improving place, in put were policies workforce new and reductions program audit, energy an program, separation voluntary a addition, In implemented. were measures saving cost input and hard work by Vice President for Finance and Administration Jacques Brunswick, a number of ef pr Added Financial century.21st the in museums” of June Glankoff. Peter the Communications of of efforts Numbers the By Seaport Mystic Director the of to leadership thanks the 05-06, under during Department media Communications the in featured prominently was Seaport Mystic Relations Public in inducted were Rhodes Philip and annually.inducted be Stephens will members new and 2006 February Olin members Inaugural Fame. of Hall Designers’ for new relationship between Mystic Seaport and Westlawn Institute of Marine Technology was announced Connecticut Magazine Connecticut ved as Chair as ved ts toraisenewendowmentandmaketransformativecapitalimprovements.With significantTrustee opic leaders. Our Trustee and Chairman Emeritus, Bob Stone, passed away in April 2006. Bob 2006. April in away passed Stone, Bob Emeritus, Chairman and Trustee Our leaders. opic Early American Life essur eplaced, but their legacies will be honored and their important contributions celebrated for- celebrated contributions important their and honored be will legacies their but eplaced, mative capital impr es on the operating budget r budget operating the on es man fr man om 1989-1995, and his tenur his and 1989-1995, om pictur featur appeared in the April issue of issue April the in appeared ed Mystic Seapor Mystic ed ed much of the Museum’ ovements come into play st i r is osity ecur ring) per year. The Museum Store operation was outsourced to outsourced was operation Store Museum year.The per ring) equir cgie thr ecognized ed us to take stabilizing actions in concer in actions stabilizing take to us ed t and addr and e was a pivotal time at the Museum marked by the by marked Museum the at time pivotal a was s . uh h Cak eir uao o W of Curator Senior Clark the ough priceless folk ar W essed the challenges facing “living histor “living facing challenges the essed ith enor Yankee mous commitments of time by your magazine, a 16-page article in the in article 16-page a magazine, t collection and the May issue t with parallel with atercraft y - M Y S T I C S E A P ORT A N N U A L R E P ORT 13 - ice Seaberg’s Seaberg’s departure in . Thanks to a committed Board of . eased momentum now that a new V tment until Mr and neighboring community d that as of Spring 2006, $5 million in new commitments to the endow the to commitments new in million $5 2006, Spring of as that t ustees. Leading commitments like these from the Board will go a long r ehensive Campaign will gain incr dinated the activities of the depar epor from one of its loyal members. ont, working shipyar fr made by four of our T e ward to reporting on our progress throughout the year. confident that Mystic Seaport is on course for a bright future. The new fiscal year began on nest. I am delighted to r to delighted am I nest. am am optimistic that the Compr look for In addition, the Museum received one of its largest ever outright donations – for the restoration of the ment wer years. coming the for footing financial stable a on excellence of centers precious our placing toward way February. Lisa February. Reed assumed the duties as Acting President Vice and a new Director of Membership, Cheryl Mattson, came on board in March. Under their direction, the fund Museum’s raising continued ear in lage and water devoted volunteers, and a skilled staff, these exciting opportunities are rapidly being fulfilled. Trustees, I April 29, 2006 and brings with it fresh ideas and exciting plans. firm, and a multidisciplinary An exhibit design firm, are architecture both poised to and help Mystic Seaport present urban trans- design formative plans for the future, plans that will complement Mystic recreated Seaport’s 19th century vil- Board development, building new donor constituencies and major gift solicitations. I President for Institutional Advancement is on board. H. Sinclair Sherrill joined the Development and Membership team in September 2006, bringing with him a long career as a fund raiser, especially in Charles W. Morgan – Morgan Charles W. I other. other. The Development Department, under the leadership of Vice Membership, President for Douglas Development and C. Seaberg, Membership, Director Lisa Reed, coor of Development Donna Bellantone and Director of itors on a all-weather year-round, basis. Transformation is one major component of our campaign. Increasing the Museum’s endowment is the In all of this, we will seek to preserve and enhance the best of what already exists at Mystic Seaport while Seaport Mystic at exists already what of best the enhance and preserve to seek will we this, of all In vis- our serve to potential untapped best the have that campus public our of parts those on concentrating less of weather or have season. recently We engaged a team of exhibit designers and architects to help us in the next phase of our planning. will We mesh their planning with a comprehensive local trans- portation study for which federal funds have recently been designated. reached in the plan for transformation. A campaign strategy retreat, held in September 2005, resulted the of future sustainable a secure help will that objectives campaign of list balanced yet ambitious an in Museum and position it to perform as a top caliber cultural attraction and learning environment regard- Board of Trustees, the National Council of Advisors and staff members, Board important of milestones Trustees, have been

M Y S T I C S E A P ORT A N N U A L R E P ORT 15 gifts, were essentially flat. So esult was a total surplus for the for surplus total a was esult y $23.7 million versus $23.3 million dinar e The net r net The . ficiently ef e for the implementation of a long term strategic plan to trans- to plan strategic term long a of implementation the for e epar elate to the fiscal year ended last April. bring To you up to date, the ogress on the goal of improving the finances of the organization and der to pr to der Rohn er t is gratifying to note that operating expenses for the year wer easur r Rober T ing a strong financial position in the future. Respectfully, finances on solid footing in or in footing solid on finances form the Museum into an refreshed all-weather, institution. The team has achieved major milestones in maintain- while audiences, new inspire and attract to us allow will this confident are we and regard, this sourcing the store, and boosted revenues through adjusted ticket pricing, new programs and more local marketing and promotion. I am happy to report that revenues so far this year are holding steady while expenses are shrinking, moving us toward a balanced operating budget. It is imperative that we put our Remember that these comments r Museum team is making good pr eliminating the operating deficit. They have rationalized the operation in many ways, for instance out- of the Museum grew from $79.4 million to $81.6 million again thanks to the generosity of our support- ers. The Museum ended the fiscal year with an endowment balance of about $50 million. to deliver an unparalleled museum experience mor experience museum unparalleled an deliver to and gifts other and gains investment excluding that however, note, to important is It million. $2.2 of year grants our operations ran at a deficit, which has been the pattern for the last few years. The net assets It in the previous year, an increase of only about 2%. Doug Teeson and the Museum staff continue on the mission, which was recognized in the recent re-accreditation by the Museums. American Association of $25.8 million. However, that increase was due to investment gains and bequests. Operating revenues, which is what we focus on, excluding investment gains and extraor there was continued pressure on the Museum to operate more efficiently and yet still deliver effectively from the very strong level of $7.7 million last fiscal year. The result of these factors was an increase in Mystic Seaport’s overall revenue from $23.9 million to Thanks to you, Mystic Seaport continued to benefit from the support of members and contributors to the increase an dollars, million $8.1 over reached bequests and grants gifts, other addition, In Fund. Annual which are highly gate dependent, could not buck the attendance trend and declined as well. To address To well. as declined and trend attendance the buck not could dependent, gate highly are which the store performance, Mystic Seaport engaged the firm Event Network to manage the retail Museum’s operations. years continued in the but past the year, implementation of more effective ticket and membership pric- ing resulted in admissions revenues that were about flat with the prior year. Revenues from licensing and sale of our intellectual property rose with reinvigorated effort, but the Museum’s store revenues, The 2006 fiscal year ended on April 28th. The negative attendance trends we have seen in the last few Treasurer’s Treasurer’s Report for Fiscal 2005 ~ 2006 T R O P E R Statements of Financial Position (In thousands) L A U N N A T R O P A E

S The consolidated financial statements presented below have been derived from the Museum’s C I audited financial statements, copies of which are available upon request. T S Y M April 28 April 29 16 2006 2005 ASSETS Current assets: Cash and cash equivalents $ 1,511 $ 229 Accounts, grants and interest receivable 835 500 Promises to give, current 2,950 3,111 Merchandise and other inventories 2,570 3,093 Prepaid expenses 569 520 Total Current Assets 8,435 7,453

Promises to give, noncurrent 6,100 7,965 Investments 52,446 48,015 Perpetual trust held by others 2,053 1,874 Other inventories 352 583 Property, plant and equipment, net of accumulated depreciation 20,822 21,713

Total Assets $ 90,208 $ 87,603

LIABILITIES AND NET ASSETS Current liabilities: Line of Credit $ 3,055 $ 5,643 Accounts payable and accrued expenses 1,868 1,407 Deferred revenue 1,057 270 Other current liabilities 123 87 Total Current Liabilities 6,103 7,407

Deferred revenue 2,393 641 Other liabilities 110 140 2,503 781

Total Liabilities 8,606 8,188

NET ASSETS Unrestricted: Management designated 22,979 20,858 Plant 18,676 19,543 Total Unrestricted 41,655 40,401

Temporarily restricted 9,979 9,442 Permanently restricted 29,968 29,572

Total Net Assets 81,602 79,415

Total Liabilities and Net Assets $ 90,208 $ 87,603

18 M Y S T I C S E A P ORT A N N U A L R E P ORT Revenue from Operations: from Revenue thousands) (in Activities of Statement Operating Expenses: Operating e ses einn ftepro 0881,4 0419422,7 94578,873 79,415 29,572 9,442 40,401 19,543 20,858 — year of end assets, Net period the of beginning assets, Net Assets Net in Changes Expenses Operating Total Expenses: Program Operations from Revenues Total income rental Stores Retail M F S P G M G iclaeu dsoasms,ohr 1 1)(8 0366 21 — 1,195 69 1,127 — 6 11 — 91 3 (3,310) 1,025 3,310 60 — 230 (38) 475 47 (15) 2,605 978 113 restriction from released assets Net other) (disposals,misc, Miscellaneous unrealized and realized Net agreements interest split in Change income Investment O Support Expenses: Support o evcsrna noe50 0 0 450 500 — — 500 — — 500 income rental services ood imadvdo 2 2 3 311 432 — 3 429 — — 429 videos and film an/osso netet ,2 ,9 ,1 4 7 ,9 2,140 4,492 178 (4) 4,318 — 2,892 1,426 investments on gains/losses ormFe ,5 2 ,1 ,2 2,172 2,122 — 3 2,119 — 32) ( 2,151 Fees rogram ales of published material, published of ales t disos302——302——3023,032 3,022 — 7,699 — 8,144 3,022 234 — 3,632 — 4,278 3,022 585 978 2,715 $ Admissions ate bequests and grants ifts, hrrna noeadfe 2 2 2 97 121 — — 121 — — 121 fees and income rental ther mesi ,5 ,5 ,5 1,245 1,059 — — 1,059 — — 1,059 embership su tr prtos462——462——4625,370 4,652 — — 4,652 — — 4,652 operations Store useum Curatorial, library and publications and library Curatorial, te rnfr 8 52 8(9)9 — — — — — — — — 99 — — 99) ( — — 88 2,142 — 2,202 — (572) 428 — 385 (1,208) — — 1,208 (428) 2,202 designated board to loss of 69 Transfer assets fixed of transfers Other purchase for Transfer 61 operations from (deficiency) Excess 2,072 V Education Shipyard udasn ,6 1163——1631,476 1,254 1,633 1,127 — — — 2,865 — 5,844 2,866 1,633 5,245 — 1,127 71 — 6 — — — — 2,866 1,562 5,245 399 1,121 161 172 51 2,295 Fundraising 5,033 Communications Finance administrative and General operations Store Museum isitor experience isitor eoetases(,6)391(,8)1334836217542 2,187 396 438 1,353 (1,383) 3,901 (1,165) transfers before Operating $ 106452102,6 36123,319 23,661 — — 23,661 2,160 465 23,861 21,036 25,848 396 438 25,014 777 4,366 19,871 3,084 2,832 2,493 ,6 178 1 9 9——— — — 99 99) ( 516 (1,708) 1,165 4 91 7 7 555 577 — — 577 14 19 544 1 — —2 , 1 2 1( 8 6 7 )1 , 2 5 45 3 73 9 62 , 1 8 75 4 2 — 00 M D anagement esignated 22,979 U 4 1 ,5 ,5 3,430 3,553 — — 3,553 917 143 nrestricted ——100——100— 18 21 1 18,676 Plant 7 ,1 ,1 2,436 3,012 — — 3,012 179 344 — U nrestricted 41,655 ,4 ,4 3,317 3,446 — — 3,446 T otal 21 Temporarily R estricted ,7 9988,0 79,415 81,602 29,968 9,979 0 3)8129 8 (33) 20 P ermanently R estricted Total 2006 Total 2005 M Y S T I C S E A P ORT A N N U A L R E P ORT 19 16% 34% and Publications 18% Curatorial, Library, Miscellaneous 2% Shipyard Gifts, Grants and Bequests 16% Investment Income 10% Fundraising 13% 3% Education Videos 7% Sale of Published Material, File and Communications 7% Membership 14% Program Fees 18% 18% 4% 20% General and Administrative Retail Store Visitor Experience Gate Admissions Food Service and Concession Income Museum Operating Expense Museum Museum Operating Income Officers of Mystic Seaport Museum, Inc. William D. Forster, Chairman of the Board Gaddis Smith* Douglas H. Teeson, President H.C. Bowen Smith Charles J. Hamm, Vice Chairman Olin J. Stephens II* Timothea S. Larr, Vice Chairman Oscar S. Straus II* Michael McMenemy, Vice Chairman Robert G. Stone, Jr.* Jason M. Pilalas, Vice Chairman Michael B. Stubbs Robert. L. Rohn, Treasurer Douglas H. Teeson William C. Ridgway III, Secretary Wade F. B. Thompson Caroleen Frey, Assistant Treasurer Alexandra T. Thorne Maureen Hennessey, Assistant Secretary Richard R. Vietor John W. Waterhouse Mystic Seaport Board Of Trustees Stanley T. Wells Thomas R. Adams* Katharine L. Weymouth* Nathaniel P. Benjamin William B. White* W. Frank Bohlen Jonathan A. Wilson* Mystic Seaport Annual Powell Cabot* Total Board = 64 Trustees: Report is a publication Stephen P. Campbell 36 Active; 28 Emeritus* Percy Chubb III* of Mystic Seaport Phyllis Collins* The Museum of America and the Sea William E. Cook Honorary Trustees: Walter L. Cronkite* Governor M. Jodi Rell Sylvia A. Earle Senator Christopher J. Dodd James F. English, Jr.* Senator Joseph Lieberman Robert A. Farrall* Congressman Robert Simmons TM A. Searle Field II President and Director Director Emeritus: William D. Forster Douglas H. Teeson James F. Giblin* J. Revell Carr Lyttleton B. P. Gould, Jr.* National Council of Advisors: Daniel S. Gregory* Acting Vice President of Dorothy R. Blair Anthony P. Halsey* Development and Membership Joseph Brown Charles J. Hamm Lisa C. Reed Walter R. Brown James Harvie * Richard H. Burroughs III Joseph C. Hoopes, Jr. Thomas B. Crowley, Jr. Director of Marketing Michael S. Hudner Richard M. Davis and Communications Robert L. Johnson Steven T. Florio Peter Glankoff Edward W. Kane Stephen R. Frary Chester W. Kitchings, Jr. James Gilbert Robert C. Kyle Editor Peter Gleysteen Timothea S. Larr Anna F. Sawin John Graham Robert G. Leary Breene Kerr Stanley Livingston, Jr.* Terry G. Klaus Production C. S. Lovelace* Henry Luce III Susan Heath James M. Lyon* Stewart MacDonald Charles L. Mallory Donald C. McGraw, Jr. Michael C. McMenemy Photos © Mystic Seaport Nancy J. McIntire William W. Miner* Rosenfeld Collection Elizabeth E. Meyer William H. Moore* page 3: GARDENIA, Cutter at Larchmont, 1908, William T. Okie, Jr. Stephen R. Munger #B94 Martin Ford Puris William R. Musser, Jr.* page 4: COTTON BLOSSOM, circa 1936, #75864F David Ross Alfred T. Ogden II page 7: SARABAND, 1936, #77011F George Russell Harris B. Parsons* page 8: 5.5 Class, 1961, #170817F Peter J. Schultz Richard W. Pendleton, Jr. page 9: Pirate Class #3, 1936, #76232F Andrew J. Singer Hugh M. Pierce* John S. W. Spofford page 14: COURANTE, 1946, #113865F Jason M. Pilalas page 17: EDLU and STORMY WEATHER, 1936, William Pinkney #74746F National Council William Ridgway III Ex-Officio Members: page 21: LUTINE, 1952, #132512F John E. Riegel page 59: International One Design 2, 1949 Charles A. Robertson William D. Forster #125072F Robert L. Rohn Douglas H. Teeson inside back cover: BOUNDING HOME, 1956 Rudolph J. Schaefer III* #152334F Peter Sharp © 2006 by Mystic Seaport Museum, Inc. back cover: ACE, Star Class, 1924, #12802F Nonprofit U.S. Postage TM PAID 75 Greenmanville avenue Permit #119 po box 6000 Deep River, CT Mystic, Connecticut 06355-0990 dated material do not hold