Civic Intelligence

The Usmma Sailing Foundation Inc

990 • Fiscal year 2020 • EIN 11-3561278

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 15, 2021

Organization ProfileWWW.USMMASAILINGFOUNDATION.ORG
11055 6th Street EastTreasure Island, FL 33706

(615) 465-8201

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2020 filings • NTEE B • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

23rd percentile

0.13x

Higher debt load relative to revenue than 23% of similar nonprofits.

2020 filings • NTEE B • $25M-$50M nonprofits • Source year 2020

Net Margin

3rd percentile

-60%

Higher net margin than 3% of similar nonprofits.

2020 filings • NTEE B • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$200,000

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2020 filings • NTEE B • $25M-$50M nonprofits • Source year 2020

Asset Growth

7th percentile

-6.5%

Faster asset growth than 7% of similar nonprofits.

2020 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

31st percentile

-6.1%

Faster revenue growth than 31% of similar nonprofits.

2020 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets18th percentile

Assets

Down

$40,024,161

Down $2,790,862 (-6.5%) from 2019

Net Assets

Down

$39,280,020

Down $3,367,547 (-7.9%) from 2019

Liabilities

Up

$744,141

Up $576,685 (+344%) from 2019

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin3rd percentile

Revenue

Down

$5,647,289

Down $370,052 (-6.1%) from 2019

Expenses

Down

$9,014,836

Down $2,504,065 (-22%) from 2019

Net Income

Up

-$3,367,547

Up $2,134,013 (+39%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $30,855,865Liabilities 2010: $2,324Net Assets 2010: $30,853,5412010Assets 2011: $39,428,417Liabilities 2011: $577,078Net Assets 2011: $38,851,3392011Assets 2012: $25,126,384Liabilities 2012: $34,397Net Assets 2012: $25,091,9872012Assets 2013: $21,765,744Liabilities 2013: $8,115Net Assets 2013: $21,757,6292013Assets 2014: $23,079,281Liabilities 2014: $254,618Net Assets 2014: $22,824,6632014Assets 2015: $25,424,226Liabilities 2015: $183,000Net Assets 2015: $25,241,2262015Assets 2016: $23,704,802Liabilities 2016: $174,970Net Assets 2016: $23,529,8322016Assets 2017: $50,457,537Liabilities 2017: $466,609Net Assets 2017: $49,990,9282017Assets 2018: $48,359,647Liabilities 2018: $210,520Net Assets 2018: $48,149,1272018Assets 2019: $42,815,023Liabilities 2019: $167,456Net Assets 2019: $42,647,5672019Assets 2020: $40,024,161Liabilities 2020: $744,141Net Assets 2020: $39,280,0202020Assets 2021: $32,552,654Liabilities 2021: $440,247Net Assets 2021: $32,112,4072021Assets 2022: $41,405,905Liabilities 2022: $621,721Net Assets 2022: $40,784,1842022Assets 2023: $41,682,319Liabilities 2023: $787,522Net Assets 2023: $40,894,7972023Assets 2024: $38,587,035Liabilities 2024: $1,043,565Net Assets 2024: $37,543,4702024

Highlighted filing

2020

Assets$40,024,161
Liabilities$744,141
Net Assets$39,280,020
Open 2020 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MRevenue 2010: $4,423,287Expenses 2010: $4,092,385Net Income 2010: $330,9022010Revenue 2011: $14,021,926Expenses 2011: $6,024,128Net Income 2011: $7,997,7982011Revenue 2012: -$8,588,532Expenses 2012: $5,171,871Net Income 2012: -$13,760,4032012Revenue 2013: $804,563Expenses 2013: $4,138,921Net Income 2013: -$3,334,3582013Revenue 2014: $5,442,431Expenses 2014: $4,375,397Net Income 2014: $1,067,0342014Revenue 2015: $9,192,900Expenses 2015: $6,837,116Net Income 2015: $2,355,7842015Revenue 2016: $3,897,622Expenses 2016: $5,611,416Net Income 2016: -$1,713,7942016Revenue 2017: $35,628,077Expenses 2017: $9,164,508Net Income 2017: $26,463,5692017Revenue 2018: $11,364,744Expenses 2018: $13,206,545Net Income 2018: -$1,841,8012018Revenue 2019: $6,017,341Expenses 2019: $11,518,901Net Income 2019: -$5,501,5602019Revenue 2020: $5,647,289Expenses 2020: $9,014,836Net Income 2020: -$3,367,5472020Revenue 2021: $5,996,554Expenses 2021: $13,164,167Net Income 2021: -$7,167,6132021Revenue 2022: $23,174,349Expenses 2022: $14,502,572Net Income 2022: $8,671,7772022Revenue 2023: $17,989,915Expenses 2023: $17,879,302Net Income 2023: $110,6132023Revenue 2024: $13,938,804Expenses 2024: $17,290,131Net Income 2024: -$3,351,3272024

Highlighted filing

2020

Revenue$5,647,289
Expenses$9,014,836
Net Income-$3,367,547
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 15, 2021
Return Version
2020v4.1
Gross Receipts
$17,598,376
Mission and Program Overview

Mission

To support the united states merchant marine academy and other 501(c)(3) organizations and conduct maritime education and training.

To support the united states merchant marine academy & conduct maritime education/training

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$41,989,825$36,654,950▼ $5,334,875
Savings and Temporary Cash Investments$751,974$3,243,680▲ $2,491,706
Accounts Receivable$53,276$84,208▲ $30,932
Prepaid Expenses and Deferred Charges$19,948$41,323▲ $21,375
Total Assets$42,815,023$40,024,161▼ $2,790,862
Liabilities
Accounts Payable and Accrued Expenses$167,456$424,129▲ $256,673
Other Liabilities$0$320,012▲ $320,012
Total Liabilities$167,456$744,141▲ $576,685
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$42,314,234$36,761,944▼ $5,552,290
Net Assets With Donor Restrictions$333,333$2,518,076▲ $2,184,743
Total Net Assets Fund Balance$42,647,567$39,280,020▼ $3,367,547
Total Liabilities and Net Assets / Fund Balance$42,815,023$40,024,161▼ $2,790,862

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$36,307,913$12,591,042$48,898,955
Buildings$300,000-$300,000
Equipment$47,037$85,472$132,509

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$333,333$2,518,076-$333,333$2,518,076
2019$1,460,424--$1,127,091$333,333
2018$1,142,589$798,758-$480,923$1,460,424
2017$1,725,275$1,142,589-$1,725,275$1,142,589
2016$60,779$3,173,332-$1,508,836$1,725,275
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ralf SteitzPresidentFT$175,000$25,000$200,000
Larry a LarsenSecretary/treasurerFT$140,400-$140,400

Board Members and Trustees

NameTitle
Jeffery G NeuberthChairman
Christopher J GasiorekTrustee
Paul StrauchTrustee
William P CampbellTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$13,745,997
Program Service Revenue
$0
Investment Income
$-8,374,655
Other Revenue
$275,947
All Other Contributions
$13,586,450
Change in Net Assets
$-3,367,547

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Boats and Planes7$8,425,000Appraised Value
Securities Publicly Traded3$2,616,387Fair Market Value (FMV)
Other Non Cash Contri Table9$1,144,625An Appraisal
Total Noncash Contributions19$12,186,012-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,647,289
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,647,289
Total Revenue per Form 990
$5,647,289
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,242,888
Grants and Similar Amounts Paid$1,145,126
Salaries, Compensation, and Employee Benefits$626,822
Total Fundraising Expense$218,937
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$5,125,175--$5,125,175
Grants to Domestic Orgs$1,145,126--$1,145,126
Fees for Services Other$478,570$118,579-$597,149
Current Officers, Directors, Trustees, and Key Employees$195,686$29,887$114,828$340,401
Travel$218,365$3,702$2,762$224,829
Insurance$205,673$3,012-$208,685
Other Salaries and Wages$119,656$18,277$70,211$208,144
Fees for Services Accounting$148,117$36,697-$184,814
Office Expenses$119,080$2,931$2,042$124,053
Other Employee Benefits$24,659$3,766$14,470$42,895
Payroll Taxes$20,340$3,107$11,935$35,382
Fees for Services Legal$24,729$6,127-$30,856
Other Expenses$22,760$2,360$2,525$27,645
Interest-$2,751-$2,751
Total Functional Expenses$8,548,874$247,025$218,937$9,014,836

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,014,836
Total Expenses per Audited Statements$9,014,836
Total Expenses per Form 990$9,014,836
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
US Merchant Marine AcademyKings Point, NYGOV'TProgram Support$1,145,126
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long-term Debt Net of Current Portion$230,639
Paycheck Protection Program Loan$81,322
Current Portion of Long-term Debt$8,051
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
Other officer compensation reviewed
No
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 B, Line 11B

“The form 990 is reviewed by the treasurer prior to filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy must be signed annually.”

Form 990, Part VI, Section C, Line 19

“The foundation will make its governing documents, conflict of interest policy, or financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Usmma Sailing Foundation Inc
EIN
11-3561278
Phone
6154658201
Address
11055 6TH STREET EAST, TREASURE ISLAND, FL 33706

Signing Officer

Name
Larry a Larsen
Title
Treasurer
Phone
6154658201
Signed
2021-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry a Larsen
Formed
2000
Legal Domicile
De
Voting Board Members
5
Independent Board Members
4
Employees
5
Volunteers
5

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA, NEW YORK, NY 10004
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“The foundation's net assets without donor restrictions consist of the following two funds: operating fund represents assets available for general use in the operation of the foundation. During 2020 and 2019, there were no donated assets that were capitalized and credited to the operating fund. Vessel fund represents donated assets associated with the sale and maintenance of vessels. During 2020 and 2019 donated assets totaling $8,425,000 and $4,920,400, respectively, were capitalized and credited to the vessel fund.”

Raw XML AppendixShowing 400 of 518 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt024659
IRS990/OtherEmployeeBenefitsGrp/TotalAmt042895
IRS990/OtherExpensesGrp/Desc0STORAGE, HAULING & TRUC
IRS990/OtherExpensesGrp/Desc1SUPPLIES AND EXPANDABLE
IRS990/OtherExpensesGrp/Desc2REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3OTHER OPERATING EXPENSE
IRS990/OtherExpensesGrp/FundraisingAmt0164
IRS990/OtherExpensesGrp/FundraisingAmt12525
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt015829
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12360
IRS990/OtherExpensesGrp/ProgramServicesAmt0380626
IRS990/OtherExpensesGrp/ProgramServicesAmt1273823
IRS990/OtherExpensesGrp/ProgramServicesAmt246489
IRS990/OtherExpensesGrp/ProgramServicesAmt322760
IRS990/OtherExpensesGrp/TotalAmt0380626
IRS990/OtherExpensesGrp/TotalAmt1289816
IRS990/OtherExpensesGrp/TotalAmt246489
IRS990/OtherExpensesGrp/TotalAmt327645
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0320012
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt011668
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt011668
IRS990/OtherRevenueTotalAmt011668
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt070211
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt018277
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0119656
IRS990/OtherSalariesAndWagesGrp/TotalAmt0208144
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt011935
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03107
IRS990/PayrollTaxesGrp/ProgramServicesAmt020340
IRS990/PayrollTaxesGrp/TotalAmt035382
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt019948
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt041323
IRS990/PrincipalOfficerNm0LARRY A LARSEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt08705109
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01439816
IRS990/PYInvestmentIncomeAmt0-2900263
IRS990/PYOtherExpensesAmt09577254
IRS990/PYOtherRevenueAmt0212495
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-5501560
IRS990/PYSalariesCompEmpBnftPaidAmt0501831
IRS990/PYTotalExpensesAmt011518901
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06017341
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-3367547
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0185100
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0751974
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03243680
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS - 2016 AMOUNT: $ 14,784. 2017 AMOUNT: $ 52,348. 2018 AMOUNT: $ 173,148. 2019 AMOUNT: $ 206,784. 2020 AMOUNT: $ 11,668.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt013745997
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt08705109
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt018853673
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt036789346
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt08156709
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt086250834
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0185766
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0185
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0205
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt013068
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0241
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0199465
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt011668
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0206784
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0173148
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt052348
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt014784
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0458732
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.61300
IRS990ScheduleA/PublicSupportPY170Pct00.64950
IRS990ScheduleA/PublicSupportTotal170Amt053277464
IRS990ScheduleA/SubstantialContributorsTotAmt032973370
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt013745997
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt08705109
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt018853673
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt036789346
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt08156709
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt086250834
IRS990ScheduleA/TotalSupportAmt086909031
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0300000
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0300000
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0333333
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt02518076
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02518076
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0333333
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01460424
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0333333
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt01127091
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01142589
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0798758
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01460424
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0480923
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01725275
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01142589
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01142589
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01725275
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt060779
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt03173332
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01725275
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt01508836
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt047037
IRS990ScheduleD/EquipmentGrp/DepreciationAmt085472
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0132509
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09014836
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt036307913
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012591042
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048898955
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt081322
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18051
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2230639
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYCHECK PROTECTION PROGRAM LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CURRENT PORTION OF LONG-TERM DEBT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LONG-TERM DEBT NET OF CURRENT PORTION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05647289
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S NET ASSETS WITHOUT DONOR RESTRICTIONS CONSIST OF THE FOLLOWING TWO FUNDS: OPERATING FUND REPRESENTS ASSETS AVAILABLE FOR GENERAL USE IN THE OPERATION OF THE FOUNDATION. DURING 2020 AND 2019, THERE WERE NO DONATED ASSETS THAT WERE CAPITALIZED AND CREDITED TO THE OPERATING FUND. VESSEL FUND REPRESENTS DONATED ASSETS ASSOCIATED WITH THE SALE AND MAINTENANCE OF VESSELS. DURING 2020 AND 2019 DONATED ASSETS TOTALING $8,425,000 AND $4,920,400, RESPECTIVELY, WERE CAPITALIZED AND CREDITED TO THE VESSEL FUND.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TermEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt036654950
IRS990ScheduleD/TotalExpensesPerForm990Amt09014836
IRS990ScheduleD/TotalLiabilityAmt0320012
IRS990ScheduleD/TotalRevenuePerForm990Amt05647289
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05647289
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09014836
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt01145126
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV'T
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0PROPERTY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PROGRAM SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0US MERCHANT MARINE ACADEMY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0300 STEAMBOAT ROAD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0KINGS POINT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd011024
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0175000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt025000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,024,161
Liabilities
$744,141
Net assets
$39,280,020
Revenue
$5,647,289
Expenses
$9,014,836
Net income
-$3,367,547
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.6$1.04$37.5$13.9$17.3$3.35
2023Detailed filing. Detailed filing data is available for this year.$41.7$0.79$40.9$18.0$17.9$0.11
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.4$0.62$40.8$23.2$14.5$8.67
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.6$0.44$32.1$6.00$13.2$7.17
2020Detailed filing. Detailed filing data is available for this year.$40.0$0.74$39.3$5.65$9.01$3.37
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.8$0.17$42.6$6.02$11.5$5.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.4$0.21$48.1$11.4$13.2$1.84
2017Summary only. Only limited summary data is available for this year.$50.5$0.47$50.0$35.6$9.16$26.5
2016Summary only. Only limited summary data is available for this year.$23.7$0.17$23.5$3.90$5.61$1.71
2015Summary only. Only limited summary data is available for this year.$25.4$0.18$25.2$9.19$6.84$2.36
2014Summary only. Only limited summary data is available for this year.$23.1$0.25$22.8$5.44$4.38$1.07
2013Summary only. Only limited summary data is available for this year.$21.8$0.01$21.8$0.80$4.14$3.33
2012Summary only. Only limited summary data is available for this year.$25.1$0.03$25.1$8.59$5.17$13.8
2011Summary only. Only limited summary data is available for this year.$39.4$0.58$38.9$14.0$6.02$8.00
2010Summary only. Only limited summary data is available for this year.$30.9$0.00$30.9$4.42$4.09$0.33