Civic Intelligence

Marine Industry Education Foundation of Palm Beach County Inc

990 • Fiscal year 2017 • EIN 65-0911214

Jul 01, 2016 to Jun 30, 2017 • Filed on May 07, 2017

PO Box 14879North Palm Beach, FL 33408

(561) 625-6644

Siviq Scores

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

Liabilities / Assets

96th percentile

1.34x

Higher debt load relative to assets than 96% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

94th percentile

0.71x

Higher debt load relative to revenue than 94% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

91st percentile

47%

Higher net margin than 91% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

80th percentile

$11,500

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

72nd percentile

20%

Faster asset growth than 72% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

21st percentile

-24%

Faster revenue growth than 21% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$41,990

Up $7,030 (+20%) from 2016

Net Assets

Up

-$14,377

Up $36,931 (+72%) from 2016

Liabilities

Down

$56,367

Down $29,901 (-35%) from 2016

Revenue

Down

$79,420

Down $24,841 (-24%) from 2016

Expenses

Down

$42,489

Down $63,093 (-60%) from 2016

Net Income

Up

$36,931

Up $38,252 (+2896%) from 2016

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0-$50K-$100KAssets 2011: $3,600Liabilities 2011: $5,121Net Assets 2011: -$1,5212011Assets 2012: $114,768Liabilities 2012: $114,166Net Assets 2012: $6022012Assets 2013: $37,342Liabilities 2013: $10,296Net Assets 2013: $27,0462013Assets 2014: $125,086Liabilities 2014: $30,093Net Assets 2014: $94,9932014Assets 2015: $44,821Liabilities 2015: $94,808Net Assets 2015: -$49,9872015Assets 2016: $34,960Liabilities 2016: $86,268Net Assets 2016: -$51,3082016Assets 2017: $41,990Liabilities 2017: $56,367Net Assets 2017: -$14,3772017Assets 2018: $75,738Liabilities 2018: $25,255Net Assets 2018: $50,4832018

Highlighted filing

2017

Assets$41,990
Liabilities$56,367
Net Assets-$14,377

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $21,319Expenses 2011: $69,780Net Income 2011: -$48,4612011Expenses 2012: $145,8722012Expenses 2013: $219,9082013Revenue 2014: $408,832Expenses 2014: $340,885Net Income 2014: $67,9472014Revenue 2015: $140,541Expenses 2015: $285,571Net Income 2015: -$145,0302015Revenue 2016: $104,261Expenses 2016: $105,582Net Income 2016: -$1,3212016Revenue 2017: $79,420Expenses 2017: $42,489Net Income 2017: $36,9312017Revenue 2018: $95,711Expenses 2018: $30,851Net Income 2018: $64,8602018

Highlighted filing

2017

Revenue$79,420
Expenses$42,489
Net Income$36,931
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 7, 2017
Return Version
2016v3.1
Gross Receipts
$103,000
Mission and Program Overview

Mission

The mission of the marine industry educational foundation is to generate funds to support a wide array of enrichment endeavors, including educational, cultural, athletic and other related activities that benefit the students, teachers and staff of the riviera beach maritime academy. The mission of the riviera beach maritime academy is to provide students with a rigorous academic and hands-on education with career exploration in the maritime industries. And to promote rehabilitation to severely disabled veterans through sporting events.

The mission of the marine industry educational foundation is to generate funds to support a wide array of enrichment endeavors, including educational, cultural, athletic and other related activities that benefit the students, teachers and staff of the riviera beach maritime academy. The mission of the riviera beach maritime academy is to provide students with a rigorous academic and hands-on education with career exploration in the maritime industries. And reimbursement of medical and living expenses for scouts and scout leaders of the gulf stream council bsa that suffer severe spinal cord injuries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$11,960$7,109▼ $4,851
Total Assets$34,960$41,990▲ $7,030
Other Assets Total$23,000$34,881▲ $11,881
Liabilities
Unsecured Notes Loans Payable$84,669$56,367▼ $28,302
Accounts Payable and Accrued Expenses$1,599--
Total Liabilities$86,268$56,367▼ $29,901
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,027$447▼ $3,580
Unrestricted Net Assets$-55,335$-14,824▲ $40,511
Total Net Assets Fund Balance$-51,308$-14,377▲ $36,931
Total Liabilities and Net Assets / Fund Balance$34,960$41,990▲ $7,030

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$34,881--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Andy FlackExecutive Di$11,500$11,500

Board Members and Trustees

NameTitle
Bob HackneyPresident
Bruce MorganDirector
Dick MurrayDirector
Louis DanielloDirector
Chuck HaythornSecretary
Chuck CairnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$83,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-3,580
Change in Net Assets
$36,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$30,989
Salaries, Compensation, and Employee Benefits$11,500
Total Fundraising Expense$7,436
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$5,000$3,000$3,500$11,500
Occupancy-$7,029-$7,029
Interest-$4,167-$4,167
All Other Expenses$1,021$36$1,782$2,839
Other Expenses$2,100-$2,154$2,100
Total Functional Expenses$20,821$14,232$7,436$42,489
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$23,580
Fundraising Gross Income$20,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Falcon Sailing$20,000$20,000$23,580$-3,580
Big Dog Fat Cat$6,000---
Total Events$26,000$20,000$23,580$-3,580
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
No
Annual disclosure for covered persons
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

Cpa prepares return, it is given to the board members to review, the board votes to accept and file the return.

Form 990, Page 6, Part VI, Line 12C

4. Violations of the conflicts of interest policy a.if the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. B.if, after hearing the member's response and after making further investigation as warranted by the circumstances the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest it shall take appropriate disciplinary and corrective action.

Form 990, Page 6, Part VI, Line 15A

Board approves all payroll

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Marine Industry Education
EIN
65-0911214
Phone
5616256644
Address
PO BOX 14879, NORTH PALM BEACH, FL 33408

Signing Officer

Name
Andy Flack
Title
Executive Director
Phone
5613480423
Signed
2017-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andy Flack
Formed
1999
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Bordeleau Cairnes & Coopersmith LLC
Address
840 US HIGHWAY 1 STE 100, NORTH PALM BEACH, FL 33408-3890
Preparer
Charles W Cairnes Jr
Phone
5616256644
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of the marine industry educational foundation is to generate funds to support a wide array of enrichment endeavors, including educational, cultural, athletic and other related activities that benefit the students, teachers and staff of the riviera beach maritime academy. The mission of the riviera beach maritime academy is to provide students with a rigorous academic and hands-on education with career exploration in the maritime industries. And reimbursement of medical and living expenses for scouts and scout leaders of the gulf stream council bsa that suffer severe spinal cord injuries.

Form 990, Page 2, Part III, Line 4A

Students. Clubs and competitions include scuba, rov, and sea scouts.

Form 990, Page 2, Part III, Line 4D

Funds for a spinoff to a new 501c3 organization. Reimbursement of medical and living expenses for scouts and scout leaders of the gulf stream council bsa that suffer severe spinal cord injuries.

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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/Desc0THE FOCUS OF THE MARINE INDUSTRY EDUCATIONAL FOUNDATION IS TO PROVIDE FINANCIAL SUPPORT TO THE RIVIERA BEACH MARITIME ACADEMY - A FREE, PUBLIC CHARTER HIGH SCHOOL WITH GRADES 9-12 WHICH IS LOCATED NEAR THE INTRACOASTAL WATERWAY IN THE CITY OF RIVIERA BEACH. RIVIERA BEACH MARITIME ACADEMY HAS HIGH ACADEMIC STANDARDS; AN ALL HONORS CURRICULUM, AND A HANDS-ON APPROACH TO EDUCATION AND TRAINING. CORE ACADEMIC SUBJECTS INCLUDE ENGLISH, HISTORY, MATH AND SCIENCE. SPECIALIZED MARITIME COURSES, SUCH AS SEAMANSHIP, ALLOW STUDENTS TO EXPLORE MARINE CAREERS. INTERNSHIPS AND JOB SHADOWING ARE AVAILABLE TO ALL STUDENTS. CLUBS AND COMPETITIONS INCLUDE SCUBA, ROV, AND SEA SCOUTS.
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt081457
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0247384
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0226432
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0782969
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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
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASEHOLD
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt06000
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FALCON SAILING
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BIG DOG FAT CAT
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt06000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt026000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt020000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt020000
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-3580
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt023580
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt023580
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CHARLES W CAIRNES JR PA CPA
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ACCOUNTING SERVICES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE MARINE INDUSTRY EDUCATIONAL FOUNDATION IS TO GENERATE FUNDS TO SUPPORT A WIDE ARRAY OF ENRICHMENT ENDEAVORS, INCLUDING EDUCATIONAL, CULTURAL, ATHLETIC AND OTHER RELATED ACTIVITIES THAT BENEFIT THE STUDENTS, TEACHERS AND STAFF OF THE RIVIERA BEACH MARITIME ACADEMY. THE MISSION OF THE RIVIERA BEACH MARITIME ACADEMY IS TO PROVIDE STUDENTS WITH A RIGOROUS ACADEMIC AND HANDS-ON EDUCATION WITH CAREER EXPLORATION IN THE MARITIME INDUSTRIES. AND REIMBURSEMENT OF MEDICAL AND LIVING EXPENSES FOR SCOUTS AND SCOUT LEADERS OF THE GULF STREAM COUNCIL BSA THAT SUFFER SEVERE SPINAL CORD INJURIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STUDENTS. CLUBS AND COMPETITIONS INCLUDE SCUBA, ROV, AND SEA SCOUTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FUNDS FOR A SPINOFF TO A NEW 501C3 ORGANIZATION. REIMBURSEMENT OF MEDICAL AND LIVING EXPENSES FOR SCOUTS AND SCOUT LEADERS OF THE GULF STREAM COUNCIL BSA THAT SUFFER SEVERE SPINAL CORD INJURIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CPA PREPARES RETURN, IT IS GIVEN TO THE BOARD MEMBERS TO REVIEW, THE BOARD VOTES TO ACCEPT AND FILE THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt44. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY A.IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B.IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD APPROVES ALL PAYROLL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014232
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt020821
IRS990/TotalFunctionalExpensesGrp/TotalAmt042489
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt086268
IRS990/TotalLiabilitiesEOYAmt056367
IRS990/TotalLiabilitiesGrp/BOYAmt086268
IRS990/TotalLiabilitiesGrp/EOYAmt056367
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-51308
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-14377
IRS990/TotalProgramServiceExpensesAmt020821
IRS990/TotalReportableCompFromOrgAmt011500
IRS990/TotalRevenueGrp/ExclusionAmt0-3580
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt079420
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt034960
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt041990
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-55335
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-14824
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt084669
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt056367
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 14879
IRS990/USAddress/CityNm0N PALM BEACH
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033408
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0MIEFPBC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDY FLACK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05613480423
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MARINE INDUSTRY EDUCATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION OF PALM BEACH COUNTY INC
ReturnHeader/Filer/BusinessNameControlTxt0MARI
ReturnHeader/Filer/EIN0650911214
ReturnHeader/Filer/PhoneNum05616256644
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 14879
ReturnHeader/Filer/USAddress/CityNm0NORTH PALM BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033408
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId01342CCFE2FC588BC5A656644435D030AD7AE2211
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId066BF5A24654C4272A26106BC31CB80FFD7A89D14
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472054637
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BORDELEAU CAIRNES & COOPERSMITH LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0840 US HIGHWAY 1 STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORTH PALM BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0334083890
ReturnHeader/PreparerPersonGrp/PhoneNum05616256644
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES W CAIRNES JR
ReturnHeader/ReturnTs02018-05-14T17:19:18-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

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