Marine Chemists Assn Inc
- Assets
- $141.1k
- Revenue
- $21.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Stonington, CT
- Founding
- 11/1980
- Data as of
- 12/2021
- EIN
- 52-1168405
Organization Overview
Marine Chemists Assn Inc is located in Stonington, CT. The organization was established in 1980. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Chemists Assn 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 12/2021, Marine Chemists Assn Inc generated $21.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (28.1%) each year. All expenses for the organization totaled $99.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE SCIENTIFIC TESTING FOR PUBLIC SAFETY AND IMPROVE THE METHODS OF EVALUATING AND PREVENTING HEALTH HAZARDS CAUSED BY FIRE, GAS, AND EXPLOSIONS IN MARINE AND ASSOCIATED INDUSTRIES FOR THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald V Raffo Secretary Tr | 20 | $48,800 | |
Brian Axelrad Past Chairma | 2 | $0 | |
Peter Raffo Atlantic Sec | 2 | $0 | |
Michael Schmidt Chairman | 2 | $0 | |
Austin Montanti Atlantic Sec | 2 | $0 | |
Bryan Berna Pacific Sect | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,424 |
| Total Revenue | $21,424 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $48,800 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,348 |
| Printing and publications | $0 |
| Other expenses | $12,365 |
| Total operating and administrative expenses | $89,088 |
| Contributions, gifts, grants paid | $9,890 |
| Total expenses and disbursements | $98,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $119,294 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $156 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $21,624 |
| Total assets | $141,074 |
| Accounts payable and accrued expenses | $7,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,000 |
Grants Awarded
Over the last fiscal year, Marine Chemists Assn Inc has awarded $9,890 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ANGELINE DOVINH PURPOSE: SCHOLARSHIP | $1,400 |
GRACIE SCOTT PURPOSE: SCHOLARSHIP | $1,350 |
GAVIN TURNAGE PURPOSE: SCHOLARSHIP | $1,350 |
MALLORY TAYLOR PURPOSE: SCHOLARSHIP | $1,300 |
BAILEY AXELRAD PURPOSE: SCHOLARSHIP | $1,300 |
HANNA ROYER PURPOSE: SCHOLARSHIP | $1,200 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Marine Chemists Assn Inc has recieved totaling $400,000.
| Awarding Organization | Amount |
|---|---|
Marine Gas Hazards Control Program Washington, DC PURPOSE: To Support the Marine Chemist Program | $200,000 |
Marine Gas Hazards Control Program Washington, DC PURPOSE: To Support the Marine Chemist Program | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
Motulsky-Nacht Family Foundation New York, NY | $171,149,787 | $10,722,392 |
Griffith R Harsh Iv And Margaret Cwhitman Charitable Foundation Albany, NY | $153,022,620 | $10,234,389 |