Sea Friends Incorporated

Nonprofit profile at a glance

EIN
113164683
IRS 990 coverage
2021–2025
Forms available
Form 990 2025, Form 990-EZ 2020
Location
Freeport, NY, USA
Phone
5163781000
Rating
33
Verdict
REVIEW
Rating confidence
Moderate
Sector
Biological & Life Sciences

Reported finances

Revenue
$47,898
Expenses
$63,057
Assets
$513,354
Liabilities
$3,899

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Michael T Studer (President,Treasurer, Director)

Highest reported compensation

  • Shakespeare Newsome (Director): $18,000 total reported compensation
  • Christopher R Smith (key employee): $5,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate a marine aquarium

What it reported doing in 2025

Marine Maps & Drawings- On October 29, 2012, the maps and drawings were destroyed as a result of Hurricane Sandy and their storage location was subsequently abandoned.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. 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: 0
  • Transparency & Controls: 90
  • Accountability: 5
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 0%; rating input score 0; 10th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -31.6%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 8.14; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 36.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.3% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 15.2% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 2 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $18K · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.