Form 990 for tax year 2023

Filed by WEBB INSTITUTE.

Totals

Total revenue: $16,095,379
Total expenses: $16,236,442
Contributions and grants received: $6,262,773
Grants paid: $6,158,694
Program service revenue: $7,907,406
Investment income: $1,771,339
Other revenue: $153,861
Total assets, end of year: $101,876,182
Total liabilities, end of year: $3,482,898
Net assets or fund balances, end of year: $98,393,284
Program services expenses (Part IX): $13,002,951
Management and general expenses: $2,708,281
Fundraising expenses: $525,210
Program service expenses (Part III): $13,002,951

Program services were 80.1% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$18,210
1f · All other contributions, gifts and grants

$6,244,563
1g · Noncash contributions included above

$843,360
2a · Program service revenue: Tuition

total $6,043,235 · related or exempt $6,043,235 · unrelated business $0 · excluded $0
2b · Program service revenue: Room and Board and Fees

total $1,864,171 · related or exempt $1,864,171 · unrelated business $0 · excluded $0
2c · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2d · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2e · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $1,809,617 · related or exempt $0 · unrelated business $13,231 · excluded $1,796,386
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $0 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $12,461,954 · other assets $0
7b · Less cost or other basis and sales expenses

securities $12,500,232 · other assets $0
7c · Gain or loss

securities -$38,278 · other assets $0
7d · Net gain or loss

total -$38,278 · related or exempt $0 · unrelated business $0 · excluded -$38,278
8a · Fundraising events: gross income

$17,985
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$17,585
8c · Net income from fundraising events

total $400 · unrelated business $0 · excluded $400
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11a · Other revenue: Other activity

total $153,461 · related or exempt $96,160 · unrelated business $0 · excluded $57,301
11b · Other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11c · Other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$153,461

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $6,158,694 · program services $6,158,694
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $733,320 · program services $211,991 · management and general $296,515 · fundraising $224,814
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $3,157,685 · program services $2,425,443 · management and general $561,041 · fundraising $171,201
8 · Pension plan contributions

total $211,742 · program services $160,765 · management and general $39,110 · fundraising $11,867
9 · Other employee benefits

total $536,200 · program services $384,934 · management and general $133,917 · fundraising $17,349
10 · Payroll taxes

total $284,685 · program services $201,052 · management and general $57,258 · fundraising $26,375
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $0 · program services $0 · management and general $0 · fundraising $0
11c · Fees: accounting

total $51,406 · program services $0 · management and general $51,406 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $298,512 · program services $0 · management and general $298,512 · fundraising $0
11g · Fees: other

total $408,534 · program services $301,259 · management and general $73,175 · fundraising $34,100
12 · Advertising and promotion

total $35,772 · program services $12,098 · management and general $14,332 · fundraising $9,342
13 · Office expenses

total $53,718 · program services $40,798 · management and general $9,598 · fundraising $3,322
14 · Information technology

total $314,140 · program services $226,611 · management and general $66,827 · fundraising $20,702
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $348,887 · program services $278,342 · management and general $70,545 · fundraising $0
17 · Travel

total $68,033 · program services $63,185 · management and general $4,383 · fundraising $465
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $35,249 · program services $33,344 · management and general $1,541 · fundraising $364
20 · Interest

total $270,203 · program services $0 · management and general $270,203 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $1,498,939 · program services $1,195,854 · management and general $303,085 · fundraising $0
23 · Insurance

total $307,799 · program services $0 · management and general $307,799 · fundraising $0
24a · Other expenses: Food Service

total $683,439 · program services $683,439 · management and general $0 · fundraising $0
24b · Other expenses: Student Services

total $75,033 · program services $75,033 · management and general $0 · fundraising $0
24c · Other expenses: Repairs & Maintenance

total $529,581 · program services $423,960 · management and general $105,621 · fundraising $0
24d · Other expenses

total $0 · program services $0 · management and general $0 · fundraising $0
24e · All other expenses

total $174,871 · program services $126,149 · management and general $43,413 · fundraising $5,309
26 · Joint costs (an allocation of the lines above)

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $35,037 · end of year $555,802
2 · Savings and temporary cash investments

beginning of year $178,612 · end of year $0
3 · Pledges and grants receivable

beginning of year $517,244 · end of year $1,831,607
4 · Accounts receivable

beginning of year $619,792 · end of year $287,055
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $256,483 · end of year $300,096
10a · Land, buildings and equipment: cost or other basis

$49,451,172
10b · Land, buildings and equipment: accumulated depreciation

$22,616,196
10c · Land, buildings and equipment, net

beginning of year $25,586,236 · end of year $26,834,976
11 · Investments: publicly traded securities

beginning of year $36,082,943 · end of year $33,356,290
12 · Investments: other securities

beginning of year $34,394,858 · end of year $38,241,933
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $464,126 · end of year $468,423
17 · Accounts payable and accrued expenses

beginning of year $501,241 · end of year $399,129
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $0 · end of year $0
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $5,247,472 · end of year $2,997,472
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $91,895 · end of year $86,297
27 · Net assets without donor restrictions

beginning of year $75,288,691 · end of year $77,130,770
28 · Net assets with donor restrictions

beginning of year $17,006,032 · end of year $21,262,514

Mission and programs · 2023

Mission

To inspire and educate tomorrows leaders in an extraordinary learning community focused on engineering and design in the marine field.

Webb Institute offers a single program service - a college education in Naval Architecture and Marine Engineering. All students receive a Bachelor of Science in Naval Architecture and Marine Engineering. Webb Institute is a 4 year college accredited by the Middle States Commission on Higher Education MSCHE and ABET formerly known as the Accreditation Board for Engineering and Technology.

Expenses $13,002,951 · Grants $6,158,694 · Revenue $8,003,566

As filed on the 2023 return.

Listed in Part VII

Mark Martecchini

President

Total calculated

$290,459

From this org

$245,000

From related orgs

$0

Other

$45,459

Hours/week

40

Schedule J breakdown matched by us

Base

$225,000

Bonus

$20,000

Other

$0

Deferred

$17,150

Nontaxable benefits

$28,309

Filer's total

$290,459
Anthony Zic

Development Director

Total calculated

$220,860

From this org

$173,303

From related orgs

$0

Other

$47,557

Hours/week

40

Schedule J breakdown matched by us

Base

$168,303

Bonus

$5,000

Other

$0

Deferred

$12,131

Nontaxable benefits

$35,426

Filer's total

$220,860
Matthew Werner

Dean

Total calculated

$219,893

From this org

$205,000

From related orgs

$0

Other

$14,893

Hours/week

40

Schedule J breakdown matched by us

Base

$195,200

Bonus

$5,000

Other

$4,800

Deferred

$14,350

Nontaxable benefits

$543

Filer's total

$219,893
Neil Gallagher

Professor

Total calculated

$193,113

From this org

$147,371

From related orgs

$0

Other

$45,742

Hours/week

35

Schedule J breakdown matched by us

Base

$147,371

Bonus

$0

Other

$0

Deferred

$10,316

Nontaxable benefits

$35,426

Filer's total

$193,113
Richard Royce

Professor

Total calculated

$172,860

From this org

$147,640

From related orgs

$0

Other

$25,220

Hours/week

35

Schedule J breakdown matched by us

Base

$147,640

Bonus

$0

Other

$0

Deferred

$10,335

Nontaxable benefits

$14,885

Filer's total

$172,860
Richard Harris

Professor

Total calculated

$169,055

From this org

$156,925

From related orgs

$0

Other

$12,130

Hours/week

35

Schedule J breakdown matched by us

Base

$152,925

Bonus

$0

Other

$4,000

Deferred

$10,985

Nontaxable benefits

$1,145

Filer's total

$169,055
Bradley Golden

Professor

Total calculated

$167,112

From this org

$123,071

From related orgs

$0

Other

$44,041

Hours/week

35

Schedule J breakdown matched by us

Base

$123,071

Bonus

$0

Other

$0

Deferred

$8,615

Nontaxable benefits

$35,426

Filer's total

$167,112
Matthew McMahon

Professor

Total calculated

$166,027

From this org

$157,783

From related orgs

$0

Other

$8,244

Hours/week

35

Schedule J breakdown matched by us

Base

$109,087

Bonus

$0

Other

$48,696

Deferred

$7,972

Nontaxable benefits

$272

Filer's total

$166,027
Bruce Rosenblatt

Chairman

Total calculated

$0

Hours/week

12
Alison Granger

Vice Chair

Total calculated

$0

Hours/week

8
Jon LaBerge

Vice Chair

Total calculated

$0

Hours/week

8
Greggory Mendenhall

Treasurer

Total calculated

$0

Hours/week

6
Sherice Arman

Secretary

Total calculated

$0

Hours/week

2
Christopher Allard

Trustee

Total calculated

$0

Hours/week

2
Paulo Almeida

Trustee

Total calculated

$0

Hours/week

8
Richard Biben

Trustee

Total calculated

$0

Hours/week

6
David Bovet

Trustee

Total calculated

$0

Hours/week

8
George Campbell Jr

Trustee

Total calculated

$0

Hours/week

4
CDR Richard Celotto

Trustee

Total calculated

$0

Hours/week

6
John Couch

Trustee

Total calculated

$0

Hours/week

4
Hampton Dixon

Trustee

Total calculated

$0

Hours/week

6
John Edgar III

Trustee

Total calculated

$0

Hours/week

2
Brian Eisenhower

Trustee

Total calculated

$0

Hours/week

2
Fernando Frimm

Trustee

Total calculated

$0

Hours/week

2
Manuel Hontoria

Trustee

Total calculated

$0

Hours/week

4
John Malone

Trustee

Total calculated

$0

Hours/week

4
John McDonald

Trustee

Total calculated

$0

Hours/week

2
Eugene Miller III

Trustee

Total calculated

$0

Hours/week

4
Philip Shapiro

Trustee

Total calculated

$0

Hours/week

2
Monique Sinmao

Trustee

Total calculated

$0

Hours/week

4
Leah Sosa

Trustee

Total calculated

$0

Hours/week

2
Paul Sullivan

Trustee

Total calculated

$0

Hours/week

6
Kirsi Tikka

Trustee

Total calculated

$0

Hours/week

4
Renee Tremblay

Trustee

Total calculated

$0

Hours/week

2
Jennifer Waters

Trustee

Total calculated

$0

Hours/week

4
Meldon Wolfgang IV

Trustee

Total calculated

$0

Hours/week

2

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

1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee
7 · Other non-fixed payments

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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I Line 1a: | Name :, Title:, Item Selected:, Description:| President Mark Martecchini, As a condition of employment the President is required to live on campus and is provided a house to live in. Utilities for the house are paid by the Institute as per contract and written policy statement.|
Part I: | PartandLinenumber:,Explanation:|Part I Line 7,Discretionary bonuses may be given as determined by the Board of Trustees.|

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 May 2025
IRS schema version: 2023v6.0
Source object: 202511359349303756

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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