Young Mariners Foundation Inc

Nonprofit profile at a glance

EIN
061427077
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Stamford, CT, USA
Phone
2033231978
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$423,520
Expenses
$352,157
Assets
$855,466
Liabilities
$60,885

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Marilyn Shapiro (Executive Director)

Highest reported compensation

  • Marilyn Shapiro (Executive Director): $75,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Young Mariners Foundation is dedicated to increasing academic and life skills achievement of low income and at-risk students through after-school enrichment and summer sailing programs.

What it reported doing in 2014

The Fall Sailing Program is offered to Blue Water Bound students who wish to extend their sailing experience and skills. It is offered on designated weekends for a fee in September/October and staffed by the Blue Water Bound instructors and interns. Normally about 20 participants register for this program which takes place in the Boccuzzi Park at Southfield location. The Young Mariners Foundation added kayak and paddleboard programs in 2012 to its roster of program services. This program offers the community access to the limited waterfront resources in the Stamford area. The kayak and paddleboard program is offered during the summer months.

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 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 a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 62
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.8%; rating input score 66
  • Program expense ratio: 76.5%; rating input score 77
  • Fundraising efficiency: $6.28 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.8%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 2.43; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 21.3%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -10.3% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 65.8% of revenue deployed · 76.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $269K in reported program spending
  • Leadership: top reported pay $75K · 15 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Fundraising efficiency scored 29/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.