Form 990 for tax year 2023
Filed by ST MARYS COLLEGE OF MARYLAND BOAT FOUNDATION INC.
Totals
- Total revenue
- $588,250
- Total expenses
- $186,514
- Contributions and grants received
- $615,000
- Grants paid
- $56,966
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- -$26,750
- Total assets, end of year
- $999,781
- Total liabilities, end of year
- $3,961
- Net assets or fund balances, end of year
- $995,820
- Program services expenses (Part IX)
- $179,075
- Management and general expenses
- $7,439
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $179,075
Program services were 96.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$0
-
1f · All other contributions, gifts and grants
$615,000
-
1g · Noncash contributions included above
$615,000
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
10a · Gross sales of inventory
$40,500
-
10b · Cost of goods sold
$67,250
-
10c · Net income from sales of inventory
total -$26,750 · related or exempt -$26,750 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $56,966 · program services $56,966
-
11b · Fees: legal
total $1,387 · management and general $1,387
-
11c · Fees: accounting
total $3,566 · management and general $3,566
-
11g · Fees: other
total $15,500 · program services $15,500
-
19 · Conferences, conventions and meetings
total $186 · program services $0 · management and general $186
-
22 · Depreciation, depletion and amortization
total $83,970 · program services $83,970
-
23 · Insurance
total $17,331 · program services $15,031 · management and general $2,300
-
24a · Other expenses: Repairs and maintenance
total $7,126 · program services $7,126 · management and general $0 · fundraising $0
-
24b · Other expenses: Storage fees
total $482 · program services $482 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $331,605 · end of year $267,008
-
8 · Inventories for sale or use
end of year $126,900
-
9 · Prepaid expenses and deferred charges
beginning of year $2,262 · end of year $2,262
-
10a · Land, buildings and equipment: cost or other basis
$710,617
-
10b · Land, buildings and equipment: accumulated depreciation
$107,006
-
10c · Land, buildings and equipment, net
beginning of year $266,731 · end of year $603,611
-
17 · Accounts payable and accrued expenses
beginning of year $6,514 · end of year $3,961
-
27 · Net assets without donor restrictions
beginning of year $594,084 · end of year $995,820
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
The mission of St Mary's College of Maryland Boat Foundation is to support the boating and sailing programs of St Mary's College of Maryland, and to provide the resources to further education and training on the water. The organization coordinates the donation and use of both cash and boats, and the subsequent use of proceeds from boat sales, following significant intervening use and duration of use, to support St Mary's College of Maryland programs.
Activities or mission (Part I)
The mission of St Mary's College of Maryland Boat Foundation is to support the boating and sailing program of St. Mary's College of Maryland, and to provide the resources to further education and training on the water.
-
The Boat Foundation provides broad support to St Mary's College of Maryland Waterfront programs. Direct support includes the providing of vessels, repairs and insurance of Foundation boats. Programming includes sail training for students across many platforms and opportunities for entering into competitions using the Boat Foundations vessels. Daily training at the College is supported by all of the Foundation's sailboats. The Assistant Varsity Sailing Coach position salary is funded by the Boat Foundation.
Expenses $179,075 · Grants $56,966
As filed on the 2023 return.
Listed in Part VII
-
Carolyn Curry
Executive Director
- Total calculated
- $281,765
- From this org
- $0
- From related orgs
- $255,501
- Other
- $26,264
- Hours/week
- 0.5 + 60 related
Schedule J breakdown matched by us
- Base
- $0 + $255,501 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $17,843 related
- Nontaxable benefits
- $0 + $8,421 related
- Filer's total
- $0 + $281,765 related
-
Robert Waldschmitt
President
- Total calculated
- $0
- Hours/week
- 0.5
-
Barry Friedman
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
William Ward
Secretary
- Total calculated
- $0
- Hours/week
- 0.5 + 40 related
-
Donald Behrens
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Clarke McKinney
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Susan Meredith
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim Sharkey
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Adam Werblow
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 40 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
St Marys College of Maryland
$56,966
Program support
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
St Mary's College of Maryland
170(B)(1)(A)(II) · College · MD
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202500489349301055
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