Marimed Foundation for Island Health Care Training
Nonprofit profile at a glance
- EIN
- 990235066
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Kaneohe, HI, USA
- Phone
- 8083493774
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Health Systems
Reported finances
- Revenue
- $641,075
- Expenses
- $752,911
- Assets
- $4,976,582
- Liabilities
- $162,399
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- MELISSA HEBERT (PRESIDENT/CE)
- MATTHEW A CLAYBAUGH (FORMER CEO)
Highest reported compensation
- MELISSA HEBERT (PRESIDENT/CE): $104,713 total reported compensation
- FRANK SHIVERS (CFO): $23,714 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Planning, developing, and conducting programs promoting the health and well-being of youth. Programs are centered around marine-based experiential, educational, and therapeutic services.
What it reported doing in 2024
The alu like maritime careers and technical training program for native hawaiians is designed to provide participants with industry-standard preparation and immediate job readiness for existing and rewarding careers in the maritime field - from deckhands to captains, to engineers and harbor agents. Participants receive basic instruction and practical skills in three primary realms of the trades; deck, engineering, and shore operations. Instruction includes both classroom and practicum or experiential learning to engage the student with various learning styles.
Operating model
- Revenue model
- Earned-program. 76% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 69
- Transparency & Controls: 92
- Accountability: 95
- Sustainability: 40
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 79.8%; rating input score 80
- Program expense ratio: 72.2%; rating input score 72
- Fundraising efficiency: $1.23 raised per $1 spent on fundraising; rating input score 4; 4th 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: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: -17.4%; rating input score 11; 11th percentile among comparable filings
- Total-asset coverage ratio: 6.61; rating input score 88; 88th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 57; 57th percentile among comparable filings
- Officer compensation ratio: 17.1%; rating input score 19; 19th percentile among comparable filings
Growth
- Program expense growth: -17.2% per year; rating input score 0; 3rd percentile among comparable filings
- Revenue growth: -11.6% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: -1.6% per year; rating input score 0; 13th percentile among comparable filings
Details
- Where the money goes: 79.8% of revenue deployed · 72.2% of spending went to programs
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $543K in reported program spending
- Leadership: top reported pay $105K · 12 people listed
- Consistency: 29 of 29 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Fundraising efficiency scored 4/100.
- High — Sustainability: Operating margin scored 11/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 19/100.
- Review — Sustainability: Liabilities to assets ratio scored 57/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.