Ma Maritime Academy Foundation Inc

Organization Overview

Ma Maritime Academy Foundation Inc is located in Buzzards Bay, MA. The organization was established in 1969. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. MA Maritime Academy Foundation 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 06/2023, MA Maritime Academy Foundation Inc generated $12.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.7m during the year ending 06/2023. While expenses have increased by 4.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE MASSACHUSETTS MARITIME ACADEMY FOUNDATION EXISTS TO PROMOTE THE GENERAL WELFARE, ACADEMIC POSTURE, AND QUALITY OF LIFE OF THE REGIMENT OF CADETS BY GENERATING AND MANAGING PRIVATE FUNDS TO SUPPORT THE MISSION OF THE MASSACHUSETTS MARITIME ACADEMY. THE FOUNDATION'S MISSIONS IS TO ENHANCE OUR GRADUATES' PREEMINENT LEADERSHIP QUALIFICATIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIPS AWARDED TO ACADEMY STUDENTS AND EXPENSES RELATED TO RECEIVING AND ACCOUNTING FOR DONATIONS.


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Board, Officers & Key Employees

Name (title)Compensation
Brendan O'connor
Chair
$0
William Walker
Vice Chair
$0
David Smith
Treasurer
$0
James Sanislow
Secretary
$0
Martin Conroy
Board Member
$0
Walter Czerny
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,111,110
All other contributions, gifts, grants, and similar amounts not included above$9,998,236
Noncash contributions included in lines 1a–1f $1,784,568
Total Revenue from Contributions, Gifts, Grants & Similar$11,109,346
Total Program Service Revenue$0
Investment income $808,382
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $333,095
Net Income from Fundraising Events $319,850
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $12,570,673

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