Adventure, named for one of the fantasy fleet of ships drawn by Captain Thomas's young son, is a knockabout schooner, designed without a bowsprit for the safety of the crew.

The McManus knockabout design was regarded by maritime historian, Howard I. Chapelle, as "the acme in the long evolution of the New England fishing schooner.

"[5] Launched on 16 September 1926, Adventure measured 122 feet (37 m) overall, sported a gaff rig and carried a 120 horsepower (89 kW) diesel engine, and a crew of twenty-seven.

[4] In 1954, Adventure was sold to Donald Hurd, Dayton Newton, and Herbert Beizer and refitted for the windjammer tourist trade, carrying vacationing passengers up and down the Maine coast.

In August 2013 she left Gloucester Harbor under full sail, and received her Passenger Vessel certificate from the United States Coast Guard in June 2015.