Seafarers Maryland Building Corporation
- Assets
- $3.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 13
- Location
- Camp Springs, MD
- Founding
- 05/1983
- Data as of
- 12/2021
- EIN
- 22-2394440
Organization Overview
Seafarers Maryland Building Corporation is located in Camp Springs, MD. The organization was established in 1983. According to its NTEE Classification (J19) the organization is classified as: Support N.E.C., under the broad grouping of Employment and related organizations. As of 12/2021, Seafarers Maryland Building Corporation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seafarers Maryland Building Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Seafarers Maryland Building Corporation generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 1.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD TITLE TO AND OPERATE PROPERTY ON BEHALF OF THE SEAFARERS PENSION PLAN, THE TAX EXEMPT PARENT ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LESSOR: HELD TITLE TO PROPERTY, COLLECTING INCOME THERE FROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO THE SEAFARERS PENSION PLAN, THE TAX EXEMPT PARENT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Bowen Vice President | OfficerTrustee | 1 | $0 |
David Heindel Secretary/treasurer | Trustee | 1 | $0 |
Anthony Naccarato President | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,435,208 |
| Investment income | $3,000 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,438,208 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $581,447 |
| Pension plan accruals and contributions | $227,056 |
| Other employee benefits | $225,932 |
| Payroll taxes | $49,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,340 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $303,226 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $632,617 |
| Travel | $0 |
| 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 | $426,840 |
| Insurance | $101,125 |
| All other expenses | $0 |
| Total functional expenses | $2,614,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $207,358 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,296 |
| 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 | $165,888 |
| Net Land, buildings, and equipment | $2,419,106 |
| Investments—publicly traded securities | $357,550 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,201,198 |
| Accounts payable and accrued expenses | $62,493 |
| Grants payable | $0 |
| Deferred revenue | $1,763 |
| 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 | $998 |
| Total liabilities | $65,254 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $3,135,944 |
| Total liabilities and net assets/fund balances | $3,201,198 |
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