Kalmar Nyckel Foundation
Nonprofit profile at a glance
- EIN
- 516015181
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Wilmington, DE, USA
- Phone
- 3024297447
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,676,556
- Expenses
- $1,950,854
- Assets
- $8,824,011
- Liabilities
- $3,717,882
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- MELISSA KENNY (PRESIDENT)
People named in this filing
- TINA BETZ (TRUSTEE)
- CHRISTOPHER BROOKS (TREASURER)
- JOSEPH BUTERA (TRUSTEE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The kalmar nyckel foundation (knf) is a volunteer-based educational organization with a mission "to preserve and promote the cultural and maritime heritage of Delaware and the Delaware valley for the education and enrichment of all."
What it reported doing in 2024
Our modern-day kalmar nyckel the official tall ship of Delaware has become one of the region's great educational resources. As a full-scale and faithful reproduction of the square-rigged ship that founded the colony of new sweden in 1638, the present-day kalmar nyckel serves as a floating classroom and inspirational platform for knf's award-winning educational programs. Kalmar nyckel voyages over 2,400 nautical miles each year, sailing from april to november, and our ship and shore programs reach more than 35,000 people during a typical year.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 92
- Accountability: 94
- Sustainability: 41
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85%; rating input score 85
- Program expense ratio: 71.2%; rating input score 71
- Fundraising efficiency: $5.21 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 7 controls in place; rating input score 86
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -16.4%; rating input score 11; 11th percentile among comparable filings
- Total-asset coverage ratio: 4.52; rating input score 83; 83rd percentile among comparable filings
- Liabilities to assets ratio: 0.42; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 3.9% per year; rating input score 100; 36th percentile among comparable filings
- Revenue growth: -3% per year; rating input score 0; 7th percentile among comparable filings
- Asset growth: 1.7% per year; rating input score 100; 24th percentile among comparable filings
Details
- Where the money goes: 85% of revenue deployed · 71.2% of spending went to programs
- Governance: 27 of 27 board members independent · 6 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $1.4M in reported program spending
- Leadership: top reported pay $0 · 27 people listed
- Consistency: 30 of 30 current checks pass
- Schedules: 7 filed schedules · includes major donors
- Filing history: 12 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 19/100.
- High — Sustainability: Operating margin scored 11/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 19/100.