Northeast Maritime Institute Foundation
- Assets
- $425.3k
- Revenue
- $300.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairhaven, MA
- Founding
- 08/2015
- Data as of
- 06/2024
- EIN
- 47-3743005
Organization Overview
Northeast Maritime Institute Foundation is located in Fairhaven, MA. The organization was established in 2015. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Northeast Maritime Institute Foundation 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 06/2024, Northeast Maritime Institute Foundation generated $300.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 32.2% each year . All expenses for the organization totaled $89.8k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT MARITIME EDUCATION THROUGH SCHOLARSHIP AND MARITIME COMMUNITY EDUCATION AND SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARITIME EDUCATIONAL SCHOLARSHIP FUNDS PROVIDED FOR STUDENTS PURSUING HIGHER EDUCATION OPPORTUNITIES IN MARITIME EDUCATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morgan Dawicki President | Trustee | 5 | $0 |
Angela Dawicki Treasurer And Vice President | Trustee | 5 | $0 |
Cassidy Correia Trustee | Trustee | 1 | $0 |
Hannah Dawicki Chairperson | Trustee | 5 | $0 |
Lauren Dawicki Trustee | Trustee | 2 | $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 | $296,843 |
| Noncash contributions included in lines 1a–1f | $216,793 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $296,843 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,334 |
| 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 | $300,179 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $67,550 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50 |
| 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 | $250 |
| 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 | $19,918 |
| Insurance | $2,043 |
| All other expenses | $5 |
| Total functional expenses | $89,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,005 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $419,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,963 |
| Total assets | $425,344 |
| Accounts payable and accrued expenses | $0 |
| 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 | $36,667 |
| Other liabilities | $0 |
| Total liabilities | $36,667 |
| Net assets without donor restrictions | $388,677 |
| 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 | $425,344 |
Grants Awarded
Over the last fiscal year, Northeast Maritime Institute Foundation has awarded $337,200 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHEAST MARITIME INSTITUTE PURPOSE: Maritime education scholarships for higher education programs and maritime program development. | $317,200 |
HABITAT FOR HUMANITY NEW ZEALAND PURPOSE: To fund home rebuilding and strengthening in Tonga | $20,000 |