The Usmma Sailing Foundation Inc
Nonprofit profile at a glance
- EIN
- 113561278
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- Spring Hill, TN, USA
- Phone
- 6154658201
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $13,938,804
- Expenses
- $17,290,131
- Assets
- $38,587,035
- Liabilities
- $1,043,565
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- RALF STEITZ (PRESIDENT)
Highest reported compensation
- RALF STEITZ (PRESIDENT): $156,998 total reported compensation
- LARRY A LARSEN (SECRETARY/TREASURER): $140,400 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To support the united states merchant marine academy and other 501(c)(3) organizations and conduct maritime education and training.
What it reported doing in 2024
The foundation supports various sailing programs which provide hands-on learning opportunities for youth, college sailors, and aspiring mariners. Donated vessels are used by the u.s. Merchant marine academy in waterfront training programs including varsity sailing teams and clubs, which impart fundamental concepts of seamanship and leadership. Through the warrior sailing program, the foundation provides maritime education for wounded, ill, and injured service members and introduces them to the sport of sailing and sailboat racing. The foundation provides vessels for sponsored races, giving young sailors hands-on educational opportunities in seamanship.
Operating model
- Revenue model
- Donor-supported. 97% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 99% 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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 96
- Transparency & Controls: 63
- Accountability: 70
- Sustainability: 41
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 98.1%; rating input score 98
- Program expense ratio: 96.9%; rating input score 97
- Fundraising efficiency: $85.97 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 99.7%; rating input score 100; 36th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 80%; rating input score 80; 16th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -24%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 2.23; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 88; 88th percentile among comparable filings
- Officer compensation ratio: 1.7%; rating input score 79; 79th percentile among comparable filings
Growth
- Program expense growth: 8.1% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 13.5% per year; rating input score 100; 84th percentile among comparable filings
- Asset growth: -2.6% per year; rating input score 0; 5th percentile among comparable filings
Details
- Where the money goes: 98.1% of revenue deployed · 96.9% of spending went to programs
- Governance: 4 of 5 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $16.8M in reported program spending
- Leadership: top reported pay $157K · 6 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $252K reported
- Consistency: 32 of 32 current checks pass
- Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 6 filing years from 2018 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 2 filed related-organization links
- 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: Foreign activity oversight scored 0/100.
- Review — Accountability: Governance controls: 4 of 9 not reported.
- High — Sustainability: Operating margin scored 4/100.
- High — Growth: Asset growth scored 0/100.