Maritime Ministries Inc

Nonprofit profile at a glance

EIN
541604155
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Elizabeth City, NC, USA
Phone
3366810575
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Religion Related N.E.C.
Affiliation
Christianity

Reported finances

Revenue
$212,780
Expenses
$140,126
Assets
$188,947
Liabilities
$24,485

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Dan Smith (President)

Highest reported compensation

  • Patrick Whipple (Treasurer): $15,439 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We serve the local church by facilitating adventure and discipleship through use of sailboats on the waterways, rivers and seas. We serve the cruising community in practical and tangible ways, being "salt and light". We share the Gospel with all that we come in contact with. We use our boats as conversation openers and as a methodology to make new friends who may share our passion for the sea.

What it reported doing in 2024

This past year we have mentored and coached a new launch ministry whose focus is on women and their walk with Christ. We provided them with a 36' sailing vessel, and vessel repair, and vessel management training. Our level of transient guest services have earned our docks the highest rating of any free dock on the US East Coast as per results in the Garmin Active Captain app.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - 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: 37
  • Transparency & Controls: 86
  • Accountability: 69
  • Sustainability: 61
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.5%; rating input score 35
  • Program expense ratio: 53.9%; rating input score 54
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 34.1%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: -8.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 35.5% of revenue deployed · 53.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $75K in reported program spending
  • Leadership: top reported pay $15K · 5 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 35/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.