Marine Industry Education Foundation of Palm Beach County Inc

Nonprofit profile at a glance

EIN
650911214
IRS 990 coverage
2011–2017
Official website data refreshed
Jun 2026
Forms available
Form 990 2017, Form 990-EZ 2010
Location
North Palm Beach, FL, USA
Phone
5616256644
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$95,711
Expenses
$30,851
Assets
$75,738
Liabilities
$25,255

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • BOB HACKNEY (PRESIDENT)

People named in this filing

  • BOB HACKNEY (PRESIDENT)
  • LOUIS DANIELLO (DIRECTOR)
  • CHUCK CAIRNES (TREASURER)

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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the marine industry education foundation is to generate funds to support a wide array of enrichment endeavors, including educational, cultural, athletic and other related activities that benefit youth and veterans.

What it reported doing in 2017

Donate funds to 501c3 exempt organizations that support a wide array of enrichment endeavors, including educational, cultural, athletic and other related activities that benefit youth and veterans.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 81
  • Accountability: 70
  • Sustainability: 65
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 15.5%; rating input score 15
  • Program expense ratio: 48.1%; rating input score 48
  • Fundraising efficiency: $8.42 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 67.8%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.45; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -59.5% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 49th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 15.5% of revenue deployed · 48.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $15K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2011 to 2017
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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: Mission deployment rate scored 15/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 48/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.