The Boat Company Ltd

Nonprofit profile at a glance

EIN
920074462
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Ponte Vedra, FL, USA
Phone
9046419901
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$6,631,120
Expenses
$6,921,162
Assets
$2,826,725
Liabilities
$4,920,619

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Hunter H McIntosh (President)
  • Winsome D McIntosh (Vice President)
  • Liz Sutherland-Riney (Vice President)

Highest reported compensation

  • Hunter H McIntosh (President): $305,972 total reported compensation
  • Winsome D McIntosh (Vice President): $304,244 total reported compensation
  • James E Jefferson (Fleet Mgr/Captain): $194,818 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 Organization sponsors one-week educational boat tours in southeast Alaska, home to the Tongass National Forest, which at 16,500,000 acres (25,800 square miles) the nation's largest, and the earth's last, substantially intact temperate rain forest. (Continued on Schedule O)Our purpose is to educate people on the importance of conserving the land and marine resources. We bring to our patron's attention the effects that warming trends are having on marine life and especially the glaciers that are thinning and retreating at an increasing rate. We work and consult with local and national conservation and environmental organizations on issues dealing with the Tongass. Also, we are very active with agencies and organizations that deal with fisheries issues. Aside from the oil industry, the fishing industry is the largest private employer in Alaska, and the conservation of southeast Alaska's forest and waters (salt and fresh) are vital to its existence.

What it reported doing in 2024

Each of our vessels carries trained naturalists specializing not only in flora and fauna, but fisheries expertise as well. Science says that temperate rainforest are more biologically diverse than tropical forests. Although many of Tongass' 8-to-10 foot diameter, 1,000-year-old trees have been cut, many still remain. Our lectures stress the importance of preserving wildlife habitat, for bears, eagles, deer, wolves and a myriad of other species, and the watersheds in that habitat which are home to six species of salmon and other fishes. We inform our customers about the effects that warming trends are having on marine life (Whales, sea lions, otters, shellfish, orcas, et al.) and especially the glaciers that are quickly thinning and retreating. (Continued on Schedule O)We have moved to digital content creation communicating with our past guests via email news blasts, calls to action on conservation issues, and calls to action of fisheries management concerns. We work and consult with local and national organizations on issues dealing with the Tongass and conservation issues, including the US Forest Service. We participate in conferences and submit comments to many agencies and organizations dealing with fisheries issues. We stress the need to protect and conserve for future generations, southeast Alaska's forest, waters, and its vital fishing industry. We are member of and work with The Alaska Trollers Association, Southeast Alaska Seiners Association, and United Fishermen of Alaska. We also work with the International Pacific Halibut Commission, The National Oceanic and Atmospheric Administration, National Marine Fisheries Service, Alaska Department of Game, and the Northern Pacific Fisheries Management Council.

Operating model

Revenue model
Earned-program. 80% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 74
  • Accountability: 91
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.3%; rating input score 67
  • Program expense ratio: 64.9%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.4%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1.74; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 19.3%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 67.3% of revenue deployed · 64.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $306K · 12 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.