Fort Schuyler Maritime Alumni Association Inc
- Assets
- $10.9m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Bronx, NY
- Founding
- 01/2005
- Data as of
- 12/2022
- EIN
- 20-1596237
Organization Overview
Fort Schuyler Maritime Alumni Association Inc, operating under the name Maritime College Alumni Association, is located in Bronx, NY. The organization was established in 2005. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2022, Maritime College Alumni Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maritime College Alumni Association 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 12/2022, Maritime College Alumni Association generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $808.0k during the year ending 12/2022. While expenses have increased by 7.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE NAUTICAL EDUCATION AND TRAINING FOSTERING THE INTERESTS OF THE MARITIME COLLEGE OF NEW YORK AND THE ACADEMIC AND PROFESSIONALDEVELOPMENT OF SUNY MARITIME COLLEGE ALUMNI, FACULTY AND STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN PURSING ITS MISSION, THE ORGANIZATION HAS ENCOURAGED NAUTICAL EDUCATION, PROVIDED OPPORTUNITIES FOR ALUMNI TO PROVIDE FINANCIAL AND OTHER ASSISTANCE TO CADETS BY AWARDING SCHOLARSHIPS, GRANTS-IN-AID OR LOANS AND BY PARTICIPATING IN PROGRAMS DESIGNED TO HEIGHTEN AND ENRICH THE PHYSCIAL, MENTAL AND MORAL LIFE OF CADETS. COMMEMORATE THE ALUMNI, FACULTY AND STUDENTS WHO HAVE RENDERED DISTINGUISHED EDUCATIONAL, PATRIOTIC OR OTHER PUBLIC SERVICE. FOSTER ORGANIZATION AND SUPERVISION OF CHAPTERS AND LEND FINANCIAL AND MORAL SUPPORT TO THE MARITIME COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Danko President | OfficerTrustee | 5 | $0 |
Annmarie Bhola Vice President | OfficerTrustee | 5 | $0 |
Leo Imperial 2nd Vice President | OfficerTrustee | 5 | $0 |
Sam Reilly Treasurer | OfficerTrustee | 10 | $0 |
Tyler Reszoly Secretary | OfficerTrustee | 5 | $0 |
Timothy Ireland Assistant Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $52,675 |
| Fundraising events | $76,090 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $549,166 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $677,931 |
| Total Program Service Revenue | $0 |
| Investment income | $146,512 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $740,735 |
| Net Income from Fundraising Events | -$30,846 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,542,160 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $515,149 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,512 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31 |
| Payroll taxes | $8,292 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,425 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,451 |
| Office expenses | $14,375 |
| Information technology | $1,540 |
| Royalties | $0 |
| Occupancy | $8,761 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $809 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $807,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,735 |
| Savings and temporary cash investments | $446,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,901 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,308 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,339,795 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,925,618 |
| Accounts payable and accrued expenses | $32,514 |
| Grants payable | $0 |
| Deferred revenue | $66,330 |
| 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 | $98,844 |
| Net assets without donor restrictions | $774,583 |
| Net assets with donor restrictions | $10,052,191 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,925,618 |