Suny Maritime Foundation Inc

Nonprofit profile at a glance

EIN
473560167
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2015
Location
Bronx, NY, USA
Phone
7184095475
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$4,213,662
Expenses
$2,561,071
Assets
$18,580,938
Liabilities
$49,853

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

Leadership & pay

14 people listed

Executive titles in this filing

  • JOHN OKON (President)

Highest reported compensation

  • DOUGLAS HASBROUCK (Executive Dir.): $133,733 total reported compensation

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

Overview

Mission

The suny maritime foundation, inc. Is the primary organization to raise and manage private financial support for suny maritime college. This support assists suny maritime to achieve its mission and vision while at the same time enriching the educational quality of the college, the students and faculty.

What it reported doing in 2024

Athletics program: the office of athletics offers a wide array of sport activities, fitness programs, and recreational facilities for the entire campus community. Varsity athletics includes 13 ncaa division iii teams, men's rowing, and co-ed sailing teams. Club sports include ice hockey, rifle, and rugby. Intramural sports are offered throughout the year, with offerings based on student engagement. The department of physical education offers classes in swimming, yoga, martial arts, and powerboat handing, among others.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 71
  • Accountability: 85
  • Sustainability: 88
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.6%; rating input score 61
  • Program expense ratio: 87.3%; rating input score 87
  • Fundraising efficiency: $42.26 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 7.26; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: -18.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 60.6% of revenue deployed · 87.3% of spending went to programs
  • Governance: 10 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.2M in reported program spending
  • Leadership: top reported pay $134K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.