Tin Can Sailors Inc
- Assets
- $789.4k
- Revenue
- $591.2k
- Investments
- $320.3k
- Employees
- 10
- Location
- Somerset, MA
- Founding
- 05/1983
- Data as of
- 09/2020
- EIN
- 04-2777916
Organization Overview
Tin Can Sailors Inc is located in Somerset, MA. The organization was established in 1983. According to its NTEE Classification (W19) the organization is classified as: Support N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2021, Tin Can Sailors Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tin Can Sailors Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2020, Tin Can Sailors Inc generated $591.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $557.8k during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Tin Can Sailors Inc has awarded 51 individual grants totaling $483,721. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO RESTORE OR IMPROVE DESTROYERS WITH MUSEUM STATUS AND TO EDUCATE THE PUBLIC ABOUT THE NAVY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS WERE GIVEN TO MAINTAIN, RESTORE OR IMPROVE DESTROYERS WITH MUSEUM STATUS
BULL SESSIONS, ANNUAL CONVENTIONS AND QUARTERLY MAGAZINE ENCOURAGE COMARADERIE AMONG PAST & PRESENT DESTROYER MEN AND ENHANCE THEIR KNOWLEDGE & SUPPORT OF THE U.S. NAVY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Miller Executive Director | OfficerTrustee | 30 | $41,971 |
Morgan Little President | OfficerTrustee | 38.5 | $0 |
Kenneth Millett Treasurer/clerk | OfficerTrustee | 1.4 | $0 |
Delbert Krause Vice President | OfficerTrustee | 0.7 | $0 |
Roger Novak Director | Trustee | 0.8 | $0 |
James Hoffman Director | Trustee | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $557,163 |
| Investment income | $11,763 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,277 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $591,176 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $43,210 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $191,328 |
| Pension plan accruals and contributions | $1,644 |
| Other employee benefits | $18,617 |
| Payroll taxes | $17,319 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $9,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58 |
| Advertising and promotion | $0 |
| Office expenses | $65,024 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,739 |
| Travel | $7,544 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,124 |
| Insurance | $7,561 |
| All other expenses | $0 |
| Total functional expenses | $557,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,785 |
| Savings and temporary cash investments | $328,069 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $67,599 |
| Prepaid expenses and deferred charges | $7,593 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $320,279 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $789,447 |
| Accounts payable and accrued expenses | $22,166 |
| Grants payable | $0 |
| Deferred revenue | $98,208 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $120,374 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $669,073 |
Grants Awarded
Over the last fiscal year, Tin Can Sailors Inc has awarded $72,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Baton Rouge, LA PURPOSE: GRANT PROGRAM FOR DESTROYERS IN MUSEUM STATUS | $10,000 |
Bay City, MI PURPOSE: GRANT PROGRAM FOR DESTROYERS IN MUSEUM STATUS | $10,000 |
Albany, NY PURPOSE: GRANT PROGRAM FOR DESTROYERS IN MUSEUM STATUS | $10,000 |
Fall River, MA PURPOSE: GRANT PROGRAM FOR DESTROYERS IN MUSEUM STATUS | $10,000 |
Mt Pleasant, SC PURPOSE: GRANT PROGRAM FOR DESTROYERS IN MUSEUM STATUS | $10,000 |
Galveston, TX PURPOSE: GRANT PROGRAM FOR DESTROYERS IN MUSEUM STATUS | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tin Can Sailors Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Bennett Charitable Foundation Inc Seaside Heights, NJ PURPOSE: ETERANS ORGANIZATION | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Accounting Foundation Norwalk, CT | $105,965,089 | $61,650,481 |
Lafp Orlando Inc Boston, MA | $80,676,734 | $6,086,314 |
Independence Northwest Center For Independent Living Of Northwest Ct Naugatuck, CT | $489,040 | $1,240,641 |
Friends Of The Rochester Publicmarket Inc Rochester, NY | $247,257 | $1,203,595 |
Tin Can Sailors Inc Somerset, MA | $789,447 | $591,176 |
New York Institute Of Credit New York, NY | $264,595 | $454,938 |
Finger Lakes Regionaltelecommunications Development Corp Canandaigua, NY | $4,537,806 | $518,832 |
Yonkers Larkin Garage Inc New York, NY | $10,459,598 | $585,425 |
Project Home Again Andover, MA | $210,672 | $429,831 |
New York Legislative Service Inc New York, NY | $200,986 | $313,008 |
United Community Center Of Westchester New Rochelle, NY | $330,164 | $240,452 |
Elite Meet Inc Marlborough, CT | $113,134 | $259,797 |