Massachusetts Harbormasters Association Inc

Nonprofit profile at a glance

EIN
043252622
IRS 990 coverage
2015–2018
Forms available
Form 990 2018, Form 990-N 2014
Location
Norwell, MA, USA
Phone
7816597206
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$298,538
Expenses
$800,174
Assets
$3,866
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • CHARLES FAMOLARE III (PRESIDENT)
  • KENNETH CORSON (VICE PRESIDENT)

Highest reported compensation

  • KENNETH CORSON (VICE PRESIDENT): $15,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Massachusetts harbormasters association is an organization of regional chapters of harbormasters working together to promote safe boating on the waters of the commonwealth of Massachusetts. The organization endeavors to bring betters administration to the waters of the commonwealth, to assist in the adoption of any new legislative programs which the association believes would be beneficial to the boating public, and to aid and inform the harbormasters and assistant harbormasters of the commonwealth.

What it reported doing in 2018

To aid and promote the general welfare and safety of the boating public and bring better administration to the harbors of the commonwealth of Massachusetts.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
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

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

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 15
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -168%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 83.9% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -62.7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -63.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $800K in reported program spending
  • Leadership: top reported pay $15K · 5 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2015 to 2018
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.