United States Merchant Marine Academy Alumni Association and Foundation Inc

Nonprofit profile at a glance

EIN
116037948
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Kings Point, NY, USA
Phone
5167735566
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Alumni Associations

Official website

Reported finances

Revenue
$6,491,243
Expenses
$6,100,651
Assets
$61,962,540
Liabilities
$513,924

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

Leadership & pay

22 people listed

Executive titles in this filing

  • JAMES F TOBIN (PRESIDENT AND CEO)
  • ROSALBA RACCAGNA (VICE PRESIDENT OF FINANCE)
  • MARILYN LIVI (SENIOR VICE PRESIDENT)

Highest reported compensation

  • JAMES F TOBIN (PRESIDENT AND CEO): $266,847 total reported compensation
  • MARILYN LIVI (SENIOR VICE PRESIDENT): $154,271 total reported compensation
  • JAMIE JOHNSON (VP OF BUS & STRATEGIC DEV.): $151,366 total reported compensation

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

Overview

Mission

See Schedule O

What it reported doing in 2024

Midshipmen and academy activities - support to academy (usmma) midshipmen programs and activities enhance the education experience of 1,020 midshipmen by providing financial support to 18 teams, and 23 clubs. Promote academic and athletic excellence by sponsoring 90 awards and scholarships.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 92
  • Accountability: 92
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.9%; rating input score 72
  • Program expense ratio: 63.1%; rating input score 63
  • Fundraising efficiency: $8.32 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 94.7%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 6%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 10.16; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 16th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 71.9% of revenue deployed · 63.1% of spending went to programs
  • Governance: 18 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $3.8M in reported program spending
  • Leadership: top reported pay $267K · 22 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $189K reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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.
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 25/100.