The Museum’s Main Exhibit and Administrative Building, formerly the estate’s garage, houses a collection of local half models, a permanent exhibit on Long Island shipwrecks and the United States Lifesaving Service, and a gallery for annual exhibits. Hervey Garrett Smith is credited to being the Museum's founder and first director. The Museum grounds and buildings were originally owned by the Bourne-Hard family.

     The garage also houses the Elward Smith III Library, a treasure trove of books, documents, photographs and boat plans. The Library is located in the east wing of the Carriage House, with the archives upstairs. The Library, which also houses many unique models and trophies is used for educational programs and meetings.