Los Angeles Maritime Institute
- Assets
- $3.8m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 35
- Location
- San Pedro, CA
- Founding
- 01/1993
- Data as of
- 06/2021
- EIN
- 33-0515416
Organization Overview
Los Angeles Maritime Institute is located in San Pedro, CA. The organization was established in 1993. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2021, Los Angeles Maritime Institute employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Maritime Institute 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 06/2021, Los Angeles Maritime Institute 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 32.3% each year . All expenses for the organization totaled $1.8m during the year ending 06/2021. While expenses have increased by 21.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OCEANBASED YOUTH CHARACTER BUILDING LEADERSHIP DEVELOPMENT AND MARITIME VOCATIONAL TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES EDUCATION ADN ADVENTURE EXPERIENCES FOR AT-RISK YOUTH THROUGH HANDS-ON SAIL TRAINING VOYAGES WHERE YOUTH BECOME PART OF THE SHIP'S CREW. DURING THE FISCAL YEAR ENDED 6/30/21, LAMI WAS FOCED TO CLOSE DONW "IN-PERSON" SAILS WHEN TEH GOVERNOR OF CALIFORNIA ISSUED "SAFER AT HOME" ORDE3RS ON MARCH 12, 2020 DUE TO THE COVID-19 PANDEMIC. AT THAT TIME, LAMI WAS ON TRACK TO EXCEED 250 EDUCATIONAL DAY SAILS AND VOYAGES AND SERVE MORE THAN 7,000 STUDENT SAIL DAYS, OUR PREVIOUS RECORD. WE DID HOWEVER, WITHIN DAYS PIVOT TO PROVIDEVFIRTUAL (BOTH EDUCATIONAL EXPERIENCES TO AT LEAST 4,655 YOUTH. DURING THE FISCAL YEAR ENDED 6/30/21, THE CITY OF LOS ANGELES PROVIDED LAND FOR OPERATING AND BERTHING FOR THE TALL SHIPS AT NO COST BUT WITH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce D Heyman Executive Director | OfficerTrustee | 50 | $59,543 |
Eric Johnaon Chairman | OfficerTrustee | 3 | $0 |
Richard Mckenna President | OfficerTrustee | 3 | $0 |
Byron Countryman Secretary | OfficerTrustee | 3 | $0 |
James Townes Treasurer | OfficerTrustee | 3 | $0 |
Winter Wilson Director | Trustee | 3 | $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 | $1,150,207 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,150,207 |
| Total Program Service Revenue | $320,780 |
| Investment income | $48 |
| 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 | $1,475,035 |
| 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. | $59,543 |
| Compensation of current officers, directors, key employees. | $11,908 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $379,897 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $64,260 |
| Payroll taxes | $122,665 |
| Fees for services: Management | $2,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,109 |
| Office expenses | $25,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $380,111 |
| Insurance | $206,597 |
| All other expenses | $23,000 |
| Total functional expenses | $1,821,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,579 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $212,219 |
| Accounts receivable, net | $0 |
| 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 | $35,724 |
| Net Land, buildings, and equipment | $3,421,665 |
| Investments—publicly traded securities | $44,441 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,791,628 |
| Accounts payable and accrued expenses | $169,776 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $150,000 |
| Other liabilities | $313,131 |
| Total liabilities | $632,907 |
| Net assets without donor restrictions | $3,158,721 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,791,628 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Los Angeles Maritime Institute has recieved totaling $260,987.
| Awarding Organization | Amount |
|---|---|
Marathon Petroleum Foundation Inc Findlay, OH PURPOSE: EXPLORE THE COAST & STEM STILL VITAL PROGRAMS | $75,000 |
Kenneth T And Eileen L Norris Foundation Long Beach, CA PURPOSE: TOPSAIL STEM PROGRAM | $50,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $50,000 |
Marathon Petroleum Foundation Inc Findlay, OH PURPOSE: LET KIDS BE KIDS - SUMMER CAMP 2021 | $45,000 |
Broad Foundation Los Angeles, CA PURPOSE: SKILLS - INVESTMENT TO EQUIP YOUNG PEOPLE WITH SKILLS, TRAINING, AND EXPERIENCES TO THRIVE PERSONALLY AND PROFESSIONALLY | $35,336 |
The Crail-Johnson Foundation San Pedro, CA PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oak Grove Institute Foundation Inc Murrieta, CA | $29,102,821 | $23,083,215 |
Taco Bell Foundation Inc Irvine, CA | $32,895,109 | $23,910,509 |
Albina Head Start Inc Portland, OR | $22,611,624 | $19,457,720 |
Orbis Cascade Alliance Portland, OR | $8,013,554 | $17,694,791 |
Albert Einstein Academies San Diego, CA | $21,189,771 | $17,379,077 |
Prospect Sierra School El Cerrito, CA | $31,201,283 | $16,565,547 |
Options Counseling Services Of Oregon Eugene, OR | $12,586,092 | $15,957,358 |
Transitions - Mental Health Association San Luis Obispo, CA | $15,943,493 | $14,891,475 |
International Myeloma Foundation Studio City, CA | $20,383,236 | $17,434,390 |
Open Networking Foundation Palo Alto, CA | $9,261,912 | $16,468,416 |
Sonoma Valley Community Health Center Sonoma, CA | $15,645,180 | $13,937,473 |
After-School All-Stars Los Angeles, CA | $10,011,535 | $13,148,528 |