THE BOSTON TEA PARTY Ships and Museum boosted revenue in its third year of operation, but continued to lose money, nearly $3.6 million.
Damaged by fire in 2001, the museum commemorating the 1773 tax rebellion against the British by the Sons of Liberty reopened in 2012 with the help of an $18 million loan from the Massachusetts Convention Center Authority. The museum had forecast net operating income of $1.5 million to $1.8 million a year, but so far hasn’t yet been able to turn a profit.
For the year ending March 31, 2015, the museum reported revenue of $4.4 million (up $1 million from the previous year) and expenses of $7.2 million. Once interest expenses were included, the museum’s net loss was $3.6 million. Financial records of the museum’s for-profit owner, Historic Tours of America, are provided to the Convention Center Authority, which released them to CommonWealth on request.
In a January 2015 CommonWealth story on the museum’s finances, officials said they expected another loss during the year ending March 31, 2015, before attaining profitability the following fiscal year.
Historic Tours has been operating the museum since 1993 at the Congress Street Bridge over Fort Point Channel. Historic Tours spent $4 million of its own money rebuilding the attraction after the 2001 fire and also received a $3 million grant from the Boston Redevelopment Authority and the $18 million convention center loan.

