The Captain Richard Phillips and Lane Kirkland Maritime Trust Inc

Nonprofit profile at a glance

EIN
813044231
IRS 990-EZ coverage
2018–2022
Forms available
Form 990-EZ 2022, Form 990-N 2017
Location
Linthicum Heights, MD, USA
Phone
4106918134
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development N.E.C.

Official website

Reported finances

Revenue
$527
Expenses
$13,401
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

8 people listed

People named in this filing

  • TONY CHATMAN (DIRECTOR)
  • RICHARD PHILLIPS (DIRECTOR)
  • LEN HERING (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote the long-term strength of the united states maritime industry and the u.s. Merchant marine through a three pronged approach: (1) generate public awareness of our national maritime heritage and its importance to national security; (2) assist individuals in the pursuit of a career in the maritime or related industries; and (3) effectively advocate for public policy and efforts which ensure the overall viability of the industry and its workforce.

What it reported doing in 2022

To assist youth in pursuing a career in the united states merchant marine by providing distributions to maritime scholarship programs and direct scholarships and grants to youth entering the maritime industry; to preserve and increase public awareness of the maritime industry and its labor and heritage elements; and to honor the accomplishment of maritime labor and industry through preservation of its artifacts, memorabilia, and history. In fy 2023, the board passed a motion to adopt the articles of dissolution and terminate the trust.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 82
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 15%; rating input score 15

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -2,442.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -52.8% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -85.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -57.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 15% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2018 to 2022
  • Contacts: How to reach this organization
  • 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: Program expense ratio scored 15/100.
  • Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.