Inland Seas Education Association
- Assets
- $7.4m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 16
- Location
- Suttons Bay, MI
- Founding
- 08/1989
- Data as of
- 12/2023
- EIN
- 38-2866234
Organization Overview
Inland Seas Education Association is located in Suttons Bay, MI. The organization was established in 1989. According to its NTEE Classification (C60) the organization is classified as: Environmental Education, under the broad grouping of Environment and related organizations. As of 12/2023, Inland Seas Education Association employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inland Seas Education 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 12/2023, Inland Seas Education Association generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 12.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE A LIFETIME OF GREAT LAKES CURIOSITY, STEWARDSHIP, AND PASSION IN PEOPLE OF ALL AGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENVIRONMENTAL STEWARDSHIP EDUCATION: TO PROVIDE SHIPBOARD AND ONSHORE GREAT LAKES EDUCATION PROGRAMS TO STUDENTS, FAMILIES, AND ADULTS. SINCE ITS FOUNDING IN 1989, OVER 150,000 PEOPLE HAVE SAILED UPON ISEA'S TALL SHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Sitkins Executive Director | Officer | 40 | $158,006 |
Thom Yocum Board Member | Trustee | 1 | $0 |
Mark Forbes Board Member | Trustee | 1 | $0 |
Jerry Ring Board Member | Trustee | 1 | $0 |
Kathy Schaeffer Board Member | Trustee | 1 | $0 |
Constanza Hazelwood Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,269 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,496,080 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,572,349 |
| Total Program Service Revenue | $164,038 |
| Investment income | $1,189 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,234 |
| Net Gain/Loss on Asset Sales | -$160,553 |
| Net Income from Fundraising Events | -$535 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,800 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,594,817 |
| 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. | $180,830 |
| Compensation of current officers, directors, key employees. | $28,288 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $663,179 |
| Pension plan accruals and contributions | $15,879 |
| Other employee benefits | $43,495 |
| Payroll taxes | $62,830 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $957 |
| Fees for services: Accounting | $33,331 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,747 |
| Advertising and promotion | $11,324 |
| Office expenses | $33,901 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,707 |
| Travel | $34,261 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,346 |
| Interest | $153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,638 |
| Insurance | $57,243 |
| All other expenses | $6,551 |
| Total functional expenses | $1,809,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,406,113 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,953,769 |
| Accounts receivable, net | $57,523 |
| 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 | $11,335 |
| Net Land, buildings, and equipment | $3,989,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,418,604 |
| Accounts payable and accrued expenses | $54,141 |
| Grants payable | $0 |
| Deferred revenue | $18,563 |
| 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 | $72,704 |
| Net assets without donor restrictions | $5,445,442 |
| Net assets with donor restrictions | $1,900,458 |
| 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 | $7,418,604 |