Northeast Maritime Institute Foundation
- Assets
- $186.8k
- Revenue
- $340.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairhaven, MA
- Founding
- 08/2015
- Data as of
- 06/2022
- 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 06/2022, Northeast Maritime Institute Foundation generated $340.3k in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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.
GRANT PROVIDED TO HABITAT FOR HUMANITY NEW ZEALAND TO PROVIDE RELIEF TO THE MARITIME COMMUNITY IN NUKU ALOFA TONGA IN RESPONSE TO THE 14 JANUARY 2022 VOLCANIC ERUPTION FROM HUNGA TONGA HUNGA HAAPAI VOLCANO WHICH CAUSED MAJOR DAMAGE TO HOMES IN THE AREA. FUNDS PROVIDED WILL GO DIRECTLY TOWARDS REBUILDING AND STRENGTHENING HOMES IN TONGA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cassidy Correia Trustee | Trustee | 5 | $0 |
Angela Dawicki Treasurer And Vice President | Trustee | 10 | $0 |
Morgan Dawicki President | Trustee | 10 | $0 |
Lauren Dawicki Trustee | Trustee | 5 | $0 |
Hannah Dawicki Chairperson | Trustee | 10 | $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 | $340,255 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $340,255 |
| Total Program Service Revenue | $0 |
| Investment income | $7 |
| 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 | $340,262 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $317,200 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $20,000 |
| 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 | $409 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $3,105 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,500 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $348,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,817 |
| 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 | $180,000 |
| Investments—publicly traded securities | $5,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $186,817 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,817 |
| Paid-in or capital surplus, or land, building, or equipment fund | $180,000 |
| Retained earnings, endowment, accumulated income, or other funds | $5,000 |
| Total liabilities and net assets/fund balances | $186,817 |
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 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Northeast Maritime Institute Foundation has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Earth Island Institute Inc Berkeley, CA PURPOSE: General support | $10,000 |
Earth Island Institute Inc Berkeley, CA PURPOSE: General support | $10,000 |
Earth Island Institute Inc Berkeley, CA PURPOSE: General support | $10,000 |
Endowment Analysis
| Net Contributions | $5,000 |
| Ending Balance | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |