Marine Insurance Seminars Inc

Nonprofit profile at a glance

EIN
760317354
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Weatherford, TX, USA
Phone
8325307981
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Environmental Quality, Protection, and Beautification N.E.C.

Official website

Reported finances

Revenue
$347,030
Expenses
$350,121
Assets
$188,226
Liabilities
$750

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

Leadership & pay

8 people listed

People named in this filing

  • Steven Weiss (Chairperson)
  • Jana Byron (Secretary)
  • Jennie Clements (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Marine Insurance Seminars, Inc. sponsors the Houston Marine & Energy Insurance Conference (HMEIC). This conference is committed to providing and promoting educational opportunities in marine and energy insurance and admiralty law fields. Additionally, Marine Insurance Seminars supports college and university partners who are educating and developing the marine and energy insurance and law professionals of the future.

What it reported doing in 2024

For over 50 years, the HMEIC conference has attracted the top talent in the marine and energy insurance and admiralty law industries and has become the preeminent meeting place for the global marine and energy insurance and legal communities. Held annually in Houston, Texas, the world's leading energy hub and an essential port for global shipping, the annual 3-day conference offers networking opportunities, continuing education requirements and keynote speeches that attract a wide array of marine and energy industry professionals.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 77
  • Accountability: 88
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.3%; rating input score 96
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 66.2%; rating input score 66; 45th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.9%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 96.3% of revenue deployed · 96.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $337K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 9 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 8 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.

  • Moderate — Sustainability: Operating margin scored 37/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.