Cal Maritime Corporation

Nonprofit profile at a glance

EIN
843939025
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-T 2024, Form 990-N 2020
Location
Vallejo, CA, USA
Phone
7076541000
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Official website

Reported finances

Revenue
$5,806,039
Expenses
$5,289,378
Assets
$113,298
Liabilities
$453,332

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • MARK GOODRICH (EXECUTIVE DIRECTOR (THRU 08/24))

Highest reported compensation

  • DINESH PINISETTY (SECRETARY/TREASURER): $217,394 total reported compensation
  • GRAHAM BENTON (VICE CHAIR (AS OF 08/24)): $203,391 total reported compensation
  • MARIE HERNANDEZ (DIRECTOR): $179,456 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide self-supporting, responsible, diversified, creative, and high-quality services. These services complement the instructional program of the university and assist the institution in achieving its educational mission.

What it reported doing in 2024

Promote and assist the university through administration of educational projects, university research and development projects, commercial services and community outreach programs.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 60
  • Accountability: 43
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.9%; rating input score 91
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 18.2%; rating input score 18; 6th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.9%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 4; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 7.8%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 25.9% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 90.9% of revenue deployed · 99.7% of spending went to programs
  • Governance: 2 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.3M in reported program spending
  • Leadership: top reported pay $217K · 14 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $5.6M reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Independent voting board scored 18/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.