Friends of Seamen's Society

Nonprofit profile at a glance

EIN
134139603
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Staten Island, NY, USA
Phone
7184477740
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$864,727
Expenses
$584,199
Assets
$6,468,383
Liabilities
$2,337,419

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID W GASKIN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • DAVID W GASKIN (CHIEF EXECUTIVE OFFICER): $274,121 total reported compensation
  • PHILIP I ZWEIGER (CHIEF FINANCIAL OFFICER): $201,810 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 assist, support & benefit the seamen's society for children & families, through the ownership, development, management & maintenance of real property & improvements thereto.

What it reported doing in 2024

Improvements at 50 bay street, staten island, ny utilized by the affiliate to operate a comprehensive social services agency that offers the following programs/services: foster care and adoption, family support services, domestic/intimate partner violence intervention & counseling, home health care management, child care and youth enrichment programs.

Operating model

Revenue model
Other-operating. 88% of the money available for current operations came from other operating 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

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

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 64
  • Accountability: 83
  • Sustainability: 77
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.8%; rating input score 55
  • Program expense ratio: 54%; rating input score 54
  • 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: 85.7%; rating input score 86; 20th 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: 32.4%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 11.07; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: -8.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -1.9% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 54.8% of revenue deployed · 54% of spending went to programs
  • Governance: 6 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $315K in reported program spending
  • Leadership: top reported pay $274K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.