Totals
- Total revenue
- $115,326
- Total expenses
- $114,932
- Contributions and grants received
- $84,817
- Grants paid
- $62,200
- Program service revenue
- $0
- Investment income
- $30,509
- Other revenue
- $0
- Total assets, end of year
- $786,362
- Total liabilities, end of year
- $17,245
- Net assets or fund balances, end of year
- $769,117
- Program services expenses (Part IX)
- $62,200
- Management and general expenses
- $52,732
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $62,200
Program services were 54.1% 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.
-
1c · Fundraising events
$24,267
-
1f · All other contributions, gifts and grants
$60,550
-
3 · Investment income
total $19,694 · excluded $19,694
-
7a · Gross sales of assets other than inventory
securities $143,862
-
7b · Less cost or other basis and sales expenses
securities $133,047
-
7c · Gain or loss
securities $10,815
-
7d · Net gain or loss
total $10,815 · excluded $10,815
-
8a · Fundraising events: gross income
$6,120
-
8a · Fundraising events: contributions included on line 1c
$24,267
-
8b · Fundraising events: direct expenses
$6,120
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$1,463
-
9b · Gaming: direct expenses
$1,463
-
9c · Net income from gaming
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $62,200 · program services $62,200
-
5 · Compensation of officers, directors and key employees
total $24,000 · management and general $24,000
-
9 · Other employee benefits
total $1,836 · management and general $1,836
-
11c · Fees: accounting
total $13,766 · management and general $13,766
-
11f · Fees: investment management
total $8,080 · management and general $8,080
-
13 · Office expenses
total $2,577 · management and general $2,577
-
14 · Information technology
total $2,473 · management and general $2,473
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $39,646 · end of year $40,628
-
4 · Accounts receivable
beginning of year $825 · end of year $5,000
-
11 · Investments: publicly traded securities
beginning of year $702,163 · end of year $740,734
-
17 · Accounts payable and accrued expenses
beginning of year $15,377 · end of year $17,245
-
27 · Net assets without donor restrictions
beginning of year $218,007 · end of year $258,867
-
28 · Net assets with donor restrictions
beginning of year $509,250 · end of year $510,250
Mission and programs · 2024
Mission
ESTABLISHED TO PROVIDE SCHOLARSHIPS AND INTERNSHIPS TO FURTHER THE MARITIME RELATED EDUCATION OF STUDENTS.
Activities or mission (Part I)
ESTABLISHED TO FOSTER FUTURE MARITIME PROFESSIONALS BY PROMOTING AND SUPPORTING MARITIME RELATED EDUCATION THROUGH FINANCIAL ASSISTANCE AND PROGRAM INITIATIVES. PROGRAMS INCLUDE: SCHOLARSHIPS, INTERNSHIP STIPENDS, CAREER DAYS AND THE BUSINESS OF SHIPPING COMPETITION.
-
TO FOSTER FUTURE MARITIME PROFESSIONALS BY SUPPORTING AND PROMOTING MARITIME RELATED EDUCATION THROUGH FINANCIAL ASSISTANCE AND PROGRAM INITIATIVES. PROGRAMS INCLUDE: SCHOLARSHIPS, INTERNSHIP STIPENDS, CAREER DAYS AND THE BUSINESS OF SHIPPING COMPETITION.
Expenses $62,200 · Grants $62,200
As filed on the 2024 return.
Listed in Part VII
-
BRAD BERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
BETH WILSON JORDAN
EXECUTIVE DIRECTOR
- Total calculated
- $24,000
- From this org
- $24,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
FRANK ALFARONE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
MOLLY MCCAFFERTY
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
SEAN DURKIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JAKE SCOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
KEVIN BREEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JAMES LAWRENCE
DIRECTOR (PASSED AWAY 6/2/25)
- Total calculated
- $0
- Hours/week
- 1
-
LORRAINE PARSONS
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
IAN WORKMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CHRIS AVERSANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DON FROST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
THOMAS KANE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611359349302476
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