Civic Intelligence

Norwalk Seaport Association Inc

EIN 06-0986800 • 501(c)3 • Norwalk, CT

Profile

The Norwalk Seaport Association, Inc. offers a cultural, environmental, and historical journey to the Norwalk Islands. The Sheffield Island Lighthouse and the Light Keeper's Cottage provide a unique historical and educational venue which strives to increase awareness, appreciation and consideration for our environment and how the preservation of historic buildings and nature contribute to our quality of life.

213 Liberty SquareNorwalk, CT 06855

www.seaport.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

43rd percentile

0.04x

Higher debt load relative to assets than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

63rd percentile

0.17x

Higher debt load relative to revenue than 63% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

24th percentile

-8.4%

Higher net margin than 24% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

44th percentile

1.7%

Faster asset growth than 44% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

40th percentile

2.4%

Faster revenue growth than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,361,862

Up $40,031 (+1.7%) from 2023

Liabilities

Up

$85,034

Up $81,134 (+2080%) from 2023

Net Assets

Down

$2,276,828

Down $41,103 (-1.8%) from 2023

Revenue

Up

$489,895

Up $11,649 (+2.4%) from 2023

Expenses

Up

$530,998

Up $40,696 (+8.3%) from 2023

Net Income

Down

-$41,103

Down $29,047 (-241%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $776,854Liabilities 2011: $425,592Net Assets 2011: $351,2622011Assets 2012: $1,043,938Liabilities 2012: $409,948Net Assets 2012: $633,9902012Assets 2013: $1,080,541Liabilities 2013: $469,870Net Assets 2013: $610,6712013Assets 2014: $909,241Liabilities 2014: $424,056Net Assets 2014: $485,1852014Assets 2015: $856,977Liabilities 2015: $329,383Net Assets 2015: $527,5942015Assets 2016: $938,930Liabilities 2016: $259,833Net Assets 2016: $679,0972016Assets 2017: $769,341Liabilities 2017: $43,701Net Assets 2017: $725,6402017Assets 2018: $747,722Liabilities 2018: $93,054Net Assets 2018: $654,6682018Assets 2019: $875,668Liabilities 2019: $118,460Net Assets 2019: $757,2082019Assets 2020: $832,571Liabilities 2020: $111,999Net Assets 2020: $720,5722020Assets 2021: $1,586,359Liabilities 2021: $97,530Net Assets 2021: $1,488,8292021Assets 2022: $2,336,122Liabilities 2022: $6,135Net Assets 2022: $2,329,9872022Assets 2023: $2,321,831Liabilities 2023: $3,900Net Assets 2023: $2,317,9312023Assets 2024: $2,361,862Liabilities 2024: $85,034Net Assets 2024: $2,276,8282024

Highlighted filing

2024

Assets$2,361,862
Liabilities$85,034
Net Assets$2,276,828

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $822,962Expenses 2011: $856,577Net Income 2011: -$33,6152011Expenses 2012: $815,0792012Revenue 2013: $963,550Expenses 2013: $987,004Net Income 2013: -$23,4542013Revenue 2014: $235,371Expenses 2014: $360,715Net Income 2014: -$125,3442014Revenue 2015: $435,756Expenses 2015: $392,500Net Income 2015: $43,2562015Revenue 2016: $510,089Expenses 2016: $358,911Net Income 2016: $151,1782016Revenue 2017: $399,080Expenses 2017: $352,537Net Income 2017: $46,5432017Revenue 2018: $200,837Expenses 2018: $421,809Net Income 2018: -$220,9722018Revenue 2019: $545,772Expenses 2019: $443,232Net Income 2019: $102,5402019Revenue 2020: $261,013Expenses 2020: $297,649Net Income 2020: -$36,6362020Revenue 2021: $1,130,200Expenses 2021: $361,943Net Income 2021: $768,2572021Revenue 2022: $1,319,105Expenses 2022: $477,947Net Income 2022: $841,1582022Revenue 2023: $478,246Expenses 2023: $490,302Net Income 2023: -$12,0562023Revenue 2024: $489,895Expenses 2024: $530,998Net Income 2024: -$41,1032024

Highlighted filing

2024

Revenue$489,895
Expenses$530,998
Net Income-$41,103

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$0.09$2.28$0.49$0.53$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.32$0.00$2.32$0.48$0.49$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.34$0.01$2.33$1.32$0.48$0.84
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.59$0.10$1.49$1.13$0.36$0.77
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.83$0.11$0.72$0.26$0.30$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.88$0.12$0.76$0.55$0.44$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.09$0.65$0.20$0.42$0.22
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.04$0.73$0.40$0.35$0.05
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.26$0.68$0.51$0.36$0.15
2015Detailed filing. Detailed filing data is available for this year.$0.86$0.33$0.53$0.44$0.39$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.91$0.42$0.49$0.24$0.36$0.13
2013Detailed filing. Detailed filing data is available for this year.$1.08$0.47$0.61$0.96$0.99$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.41$0.63$0.82
2011Summary only. Only limited summary data is available for this year.$0.78$0.43$0.35$0.82$0.86$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 16, 2025
Return Version
2024v5.1
Gross Receipts
$1,344,135
Mission and Program Overview

Mission

The Norwalk Seaport Association, Inc. offers a cultural, environmental, and historical journey to the Norwalk Islands. The Sheffield Island Lighthouse and the Light Keeper's Cottage provide a unique historical and educational venue which strives to increase awareness, appreciation and consideration for our environment and how the preservation of historic buildings and nature contribute to our quality of life.

The purpose of the Norwalk Seaport Association is to foster public awareness of our marine environment and maritime heritage through education and preservation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,253,107$1,523,209▲ $270,102
Savings and Temporary Cash Investments$984,133$763,747▼ $220,386
Cash and Non-Interest-Bearing Accounts$49,064$35,954▼ $13,110
Prepaid Expenses and Deferred Charges$28,095$30,916▲ $2,821
Investments in Publicly Traded Securities$7,432$8,036▲ $604
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,321,831$2,361,862▲ $40,031
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,900$85,034▲ $81,134
Total Liabilities$3,900$85,034▲ $81,134
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,317,931$2,276,828▼ $41,103
Total Net Assets Fund Balance$2,317,931$2,276,828▼ $41,103
Total Liabilities and Net Assets / Fund Balance$2,321,831$2,361,862▲ $40,031

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$643,503$327,374$970,877
Buildings$428,104$290,352$718,456
Land$407,992-$407,992
Equipment$43,610$279,904$323,514
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jerry ToniExecutive DirectorFT$95,040$95,040

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$135,044
Program Service Revenue
$292,225
Investment Income
$44,388
Other Revenue
$18,238
All Other Contributions
$124,035
Change in Net Assets
$-41,103

Audited Revenue Reconciliation

Revenue per Audited Statements
$489,895
Revenue Not Reported on Form 990
$834,227
Total Revenue per Audited Statements
$1,324,122
Total Revenue per Form 990
$489,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$318,015
Salaries, Compensation, and Employee Benefits$212,483
Grants and Similar Amounts Paid$500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$80,914$40,890-$121,804
Current Officers, Directors, Trustees, and Key Employees-$95,040-$95,040
Other Salaries and Wages$48,883$45,589-$94,472
Depreciation Depletion$37,866$7,028-$44,894
Fees for Services Other$36,463$654-$37,117
Insurance$23,352$13,322-$36,674
Other Expenses$23,745--$23,745
Fees for Services Accounting-$21,125-$21,125
Occupancy$2,862$15,489-$18,351
Payroll Taxes$4,155$11,955-$16,110
Advertising$7,491$6,814-$14,305
Other Employee Benefits$3,981$2,880-$6,861
Grants to Domestic Individuals$500--$500
Total Functional Expenses$270,212$260,786$0$530,998

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,365,225
Expenses Not Reported on Form 990$834,227
Expenses per Audited Statements$530,998
Total Expenses per Form 990$530,998
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$853,803
Fundraising Direct Expenses$834,227
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Oyster Festival$835,009$835,009$351,672$483,337
DockTails$18,794$18,794$3,032$15,762
Total Events$853,803$853,803$834,227$19,576
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jim ErotopoulosBoard MemberPrinting VendorNo$9,285

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The Organization is incorporated as a non-stock corporation in the State of Connecticut

Form 990, Part VI, Section B, Line 11B

Form 990 is provided to all Board Members prior to filing with the IRS for review and input, if any.

Form 990, Part VI, Section B, Line 15A

The Executive Committee works with the Executive Director or President on implementing goals and objectives and compensation levels for all employees. The Board of Directors is responsible for determining and reviewing the compensation of the Executive Director. The Executive Director position was vacant from 2014 through 2023. In 2024, the Business Manager was elevated to Executive Director.

Form 990, Part VI, Section B, Line 15B

Executive Director or PresidentSection 6.1 Office - The Board, at its discretion, may employ an Executive Director to act as the Chief Operating Officer of the NSA. Such employment shall require approval by a vote of three-quarters of the entire Board of Trustees then in office and not on leave of absence. In the absence of employment of an Executive Director, the President of the NSA shall also be the Chief Operating Officer.Section 6.2 Duties - The Executive Director shall:- Report directly to the Board;- Be responsible for the overall management of NSA operations;- Be responsible for conducting the official correspondence of the NSA;- Preserve all books, documents, records, communications and archives;- Be responsible for preserving books of account and for maintaining accurate records of the activities of the NSA;- Receive and deposit all monies in the name of the NSA and, upon approval of the annual budget, make such disbursements as are provided for in the budget without further approval of the Board, subject to the requirements for joint execution of all checks over $750;- Be responsible for the direction and supervision of all staff;- Attend meetings of the Board and of the Executive Committee;- Attend Committee meetings when requested by its Chairperson or when the Executive Director deems it appropriate.Section 6.3 Term - The Executive Director may be dismissed with or without cause by a vote of three-quarters of the members of the entire Board of Trustees then in office and not on leave of absence.Section 6.4 Compensation - The Executive Director shall be paid such compensation as the Board determines.

Form 990, Part VI, Section C, Line 19

The Organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Norwalk Seaport Association Inc
EIN
06-0986800
Phone
2038389444
Address
213 Liberty Square, Norwalk, CT 06855

Signing Officer

Name
Richard McQuaid
Title
Vice President
Signed
2025-04-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard McQuaid
Formed
1978
Legal Domicile
Ct
Voting Board Members
24
Independent Board Members
24
Employees
20
Volunteers
500

Preparer

Firm
Peach & McPherson CPA
Address
110 Washington Ave, North Haven, CT 06473
Preparer
Raymond S Peach
Phone
2032349426
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Special Event Expenses $834227

Part XII, Line 2D: Other expenses and losses per audited F/S

Special Event Expenses $834227

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IRS990/Form990PartVIISectionAGrp/PersonNm22Robert Terpin
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IRS990/MissionDesc0The Norwalk Seaport Association, Inc. offers a cultural, environmental, and historical journey to the Norwalk Islands. The Sheffield Island Lighthouse and the Light Keeper's Cottage provide a unique historical and educational venue which strives to increase awareness, appreciation and consideration for our environment and how the preservation of historic buildings and nature contribute to our quality of life.
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