Washington Maritime Blue

Nonprofit profile at a glance

EIN
831638344
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2067470563
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$4,776,219
Expenses
$3,914,017
Assets
$1,632,473
Liabilities
$555,320

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

Leadership & pay

25 people listed

Executive titles in this filing

  • JOSHUA BERGER (CEO)

Highest reported compensation

  • JOSHUA BERGER (CEO): $213,443 total reported compensation
  • VEASNA HOY (PROGRAM DIRECTOR): $143,077 total reported compensation
  • DEVON THORSELL (COO): $142,149 total reported compensation

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

Overview

Mission

Maritime blue is a strategic alliance propelling the pacific northwest toward global leadership in ocean-based innovation. We foster collaboration among industry, government, academia, communities, and investors to create sustainable maritime and ocean industries. We empower our region to thrive in the blue economy by accelerating innovation and entrepreneurship, centering equity, addressing climate change, restoring marine ecosystems, and building a diverse workforce.

What it reported doing in 2024

The blue hub is both a physical and figurative gathering space for new ideas to flourish. We operate a 6,000 square foot office space at fishermen's terminal in seattle. We share the space with members, startup founders, and guests. We host networking events, convenings, and roundtables throughout the year. In late 2026, maritime blue along with the port of seattle, will open the maritime innovation center. With seven, class a waterfront offices available for rent, co-working space, a classroom, and event capacity for more than 200, the maritime innovation center will be the pacific northwest's beacon for the blue economy.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 94% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 85
  • Accountability: 100
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $23.36 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 18.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 21.6%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 26.1% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 30.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 38.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 78.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $213K · 25 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $232K reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.