Nauticus Foundation

Nonprofit profile at a glance

EIN
541475802
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7576641014
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,965,329
Expenses
$4,395,363
Assets
$19,537,732
Liabilities
$564,228

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

Leadership & pay

18 people listed

Executive titles in this filing

  • STEPHEN KIRKLAND (EXECUTIVE DIRECTOR)

People named in this filing

  • PAUL FRAIM (CHAIR)
  • JOHN REINHART (SECRETARY)
  • MARK HONECKER (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

We exist to benefit our community through education, impactful experiences and by sharing access to maritime resources.

What it reported doing in 2024

Nauticus is a maritime discovery center located along the waterfront in downtown, norfolk offering a unique form of experiential learning for all ages. Through interactive exhibits and stem to stern programming, nauticus uses the museum, battleship Wisconsin, sailing center, and schooner Virginia to tell the story of the maritime environment, industry, and the military.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.1%; rating input score 69
  • Program expense ratio: 84.5%; rating input score 85
  • Fundraising efficiency: $11.53 raised per $1 spent on fundraising; rating input score 42; 42nd 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: 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: 26.3%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 4.45; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 15.9% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 16.9% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 16.6% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 69.1% of revenue deployed · 84.5% of spending went to programs
  • Governance: 17 of 17 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.7M in reported program spending
  • Leadership: top reported pay $0 · 18 people listed
  • Highest-paid contractors: 2 contractors listed · $233K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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: Fundraising efficiency scored 42/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.