Civic Intelligence

Massachusetts Maritime Academy Alumni Association Inc

990 • Fiscal year 2021 • EIN 23-7273472

Sep 01, 2020 to Aug 31, 2021 • Filed on Jul 06, 2022

Organization Profilewww.massmaritimealum.com
PO Box 3212Buzzards Bay, MA 02532

(781) 706-3711

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.04x

Higher debt load relative to assets than 72% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

76th percentile

0.07x

Higher debt load relative to revenue than 76% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

72nd percentile

28%

Higher net margin than 72% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

70th percentile

25%

Faster asset growth than 70% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

59th percentile

16%

Faster revenue growth than 59% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$295,154

Up $59,970 (+25%) from 2020

Net Assets

Up

$282,473

Up $51,603 (+22%) from 2020

Liabilities

Up

$12,681

Up $8,367 (+194%) from 2020

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin72nd percentile

Revenue

Up

$185,455

Up $24,922 (+16%) from 2020

Expenses

Up

$133,852

Up $6,432 (+5.0%) from 2020

Net Income

Up

$51,603

Up $18,490 (+56%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$600K$400K$200K$0Assets 2018: $224,766Liabilities 2018: $0Net Assets 2018: $224,7662018Assets 2019: $197,757Liabilities 2019: $0Net Assets 2019: $197,7572019Assets 2020: $235,184Liabilities 2020: $4,314Net Assets 2020: $230,8702020Assets 2021: $295,154Liabilities 2021: $12,681Net Assets 2021: $282,4732021Assets 2022: $310,439Liabilities 2022: $58,054Net Assets 2022: $252,3852022Assets 2025: $462,538Liabilities 2025: $50,000Net Assets 2025: $412,5382025

Highlighted filing

2021

Assets$295,154
Liabilities$12,681
Net Assets$282,473
Open 2021 Filing

Operations Trend

Revenue Growth59th percentile

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

$300K$200K$100K$0-$100KRevenue 2018: $135,858Expenses 2018: $113,333Net Income 2018: $22,5252018Revenue 2019: $110,388Expenses 2019: $137,397Net Income 2019: -$27,0092019Revenue 2020: $160,533Expenses 2020: $127,420Net Income 2020: $33,1132020Revenue 2021: $185,455Expenses 2021: $133,852Net Income 2021: $51,6032021Revenue 2022: $179,700Expenses 2022: $209,788Net Income 2022: -$30,0882022Revenue 2025: $280,463Expenses 2025: $189,800Net Income 2025: $90,6632025

Highlighted filing

2021

Revenue$185,455
Expenses$133,852
Net Income$51,603
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Jul 6, 2022
Return Version
2020v4.2
Gross Receipts
$186,255
Mission and Program Overview

Mission

To provide services and activities for alumni of the massachusetts maritime academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$73,788$161,467▲ $87,679
Cash and Non-Interest-Bearing Accounts$161,396$133,687▼ $27,709
Total Assets$235,184$295,154▲ $59,970
Liabilities
Accounts Payable and Accrued Expenses$4,314$12,681▲ $8,367
Total Liabilities$4,314$12,681▲ $8,367
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$230,870$282,473▲ $51,603
Total Net Assets Fund Balance$230,870$282,473▲ $51,603
Total Liabilities and Net Assets / Fund Balance$235,184$295,154▲ $59,970
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Peter SewardPresident
Timm HibbertVice President
BARRY McDONOUGHDirector
Christina ColarussoDirector
Frank HenniganDirector
John KellyDirector
Kc AtwoodDirector
Kevin FlanaganDirector
W Dale JonesDirector
Wayne MattsonDirector
William BaribaultDirector
Mason WilcoxSecretary
SHAWN O'CONNORTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$154,274
Program Service Revenue
$21,485
Investment Income
$86
Other Revenue
$9,610
All Other Contributions
$113,974
Change in Net Assets
$51,603
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,152
Grants and Similar Amounts Paid$51,700
Total Fundraising Expense$2,400
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$51,700--$51,700
All Other Expenses$4,149$4,141-$8,290
Fees for Services Accounting-$7,647-$7,647
Fees for Services Other-$2,400$2,400$4,800
Other Expenses$3,026$1,071-$4,097
Conferences and Meetings$679--$679
Office Expenses-$350-$350
Total Functional Expenses$115,737$15,715$2,400$133,852
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Massachusetts Maritime AcademyBuzzards Bay, MAScholarshipsScholarships$50,000
Massachusetts Maritime AcademyBuzzards Bay, MAOther contributionsOther$1,700
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,410
Fundraising Direct Expenses$800
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Raffle$10,410$10,410$800$9,610
Total Events$10,410$10,410$800$9,610
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
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 Association has members.”

Form 990, Part VI, Section A, line 7A

“Members in good standing have the right to vote to elect the officers of the governing body.”

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

“The governing body reviews and approves the Form 990 prior to filing.”

Form 990, Part VI, Section C, line 19

“Governing documents, policies, and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Massachusetts Maritime Academy
EIN
23-7273472
Phone
7817063711
Address
PO Box 3212, Buzzards Bay, MA 02532

Signing Officer

Name
SHAWN O'CONNOR
Title
Treasurer
Phone
7817063711
Signed
2022-07-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawn O'Connor
Formed
1916
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
0

Preparer

Firm
E L Mann Pc
Address
1290 Worcester Road, Framingham, MA 01702-5254
Preparer
Edward Liss Mann
Phone
5088724400
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

“No change”

Part XII Line 12 Change in accounting method

“The Association changed its accounting method from US GAAP to the tax basis used for the preparation of its Form 990. This resulted in no affects to its financial position or results of operations.”

Financial Statement Notes

Part X, Line 2:

“Accounting principles generally accepted in the United States require an entity to assess the probability that a tax position has a "more likely than not" ("MLTN") sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Tax returns are routinely open for review by the tax authorities for three years from their due date. In certain circumstances the statute of limitations may remain open indefinitely. As a not-for-profit entity exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code, the Association may, however, be subject to tax on unrelated business income. The Association did not have taxable unrelated business income. .”

Raw XML AppendixShowing 400 of 464 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/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENT
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0111585
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0518111
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt086
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt080
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt083
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt083
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt080
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0412
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt021485
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt017868
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt014034
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt013576
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt024193
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt091156
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt086
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt080
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt083
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt083
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt080
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0412
IRS990ScheduleA/InvestmentIncomeCYPct00.00070
IRS990ScheduleA/InvestmentIncomePYPct00.00070
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt09990
IRS990ScheduleA/OtherIncome509Grp/TotalAmt09990
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98320
IRS990ScheduleA/PublicSupportPY509Pct00.99930
IRS990ScheduleA/PublicSupportTotal509Amt0609267
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0126079
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0140376
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt096729
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0110305
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0135778
IRS990ScheduleA/Total509Grp/TotalAmt0609267
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0126165
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0150446
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt096812
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0110388
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0135858
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0619669
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States require an entity to assess the probability that a tax position has a "more likely than not" ("MLTN") sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Tax returns are routinely open for review by the tax authorities for three years from their due date. In certain circumstances the statute of limitations may remain open indefinitely. As a not-for-profit entity exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code, the Association may, however, be subject to tax on unrelated business income. The Association did not have taxable unrelated business income. .
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0800
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0RAFFLE
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt010410
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt010410
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt010410
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt010410
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt09610
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0800
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0800
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt11700
IRS990ScheduleI/RecipientTable/IRCSectionDesc0Scholarships
IRS990ScheduleI/RecipientTable/IRCSectionDesc1Other contributions
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Scholarships
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Other
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Massachusetts Maritime Academy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Massachusetts Maritime Academy
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0101 Academy Drive
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1101 Academy Drive
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Buzzards Bay
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Buzzards Bay
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002532
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd102532
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS ARE AWARDED BY THE MASS MARITME ACADEMY IN THE NAME OF THE ALUMNI ASSOCIATION. THE SCHOOL SENDS AN ITEMIZED INVOICE TO THE ALUMNI ASSOCIATION, WHO REIMBURSES THE SCHOOL FOR THE AMOUNT AWARDED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Association has members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members in good standing have the right to vote to elect the officers of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing body reviews and approves the Form 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No change
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Association changed its accounting method from US GAAP to the tax basis used for the preparation of its Form 990. This resulted in no affects to its financial position or results of operations.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2c:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part XII Line 12 Change in accounting method
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0235184
IRS990/TotalAssetsEOYAmt0295154
IRS990/TotalAssetsGrp/BOYAmt0235184
IRS990/TotalAssetsGrp/EOYAmt0295154
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0154274
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02400
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015715
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0115737
IRS990/TotalFunctionalExpensesGrp/TotalAmt0133852
IRS990/TotalGrossUBIAmt00

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$295,154
Liabilities
$12,681
Net assets
$282,473
Revenue
$185,455
Expenses
$133,852
Net income
$51,603
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.63$0.50$4.13$2.80$1.90$0.91
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.10$0.58$2.52$1.80$2.10$0.30
2021Detailed filing. Detailed filing data is available for this year.$2.95$0.13$2.82$1.85$1.34$0.52
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.35$0.04$2.31$1.61$1.27$0.33
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.98$0.00$1.98$1.10$1.37$0.27
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$0.00$2.25$1.36$1.13$0.23