Institute For Shipboard Education
- Assets
- $58.2m
- Revenue
- $21.0m
- Investments
- $0.0
- Employees
- 130
- Location
- Fort Collins, CO
- Founding
- 11/1977
- Data as of
- 05/2022
- EIN
- 95-3075415
Organization Overview
Institute For Shipboard Education is located in Fort Collins, CO. The organization was established in 1977. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 05/2022, Institute For Shipboard Education employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Shipboard Education 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 05/2022, Institute For Shipboard Education generated $21.0m 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 (7.5%) each year. All expenses for the organization totaled $24.8m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE INSTITUTE FOR SHIPBOARD EDUCATION ("THE INSTITUTE") ORGANIZES & ADMINISTERS THE SEMESTER AT SEA STUDY ABROAD PROGRAM WHICH OFFERS COLLEGE LEVEL COURSES IN CONJUNCTION WITH TRAVELING THE WORLD FOR A SEMESTER TO UNDERGRADS, GRADUATE STUDENTS, AND GAP YEAR STUDENTS. THE SEMESTER AT SEA PROGRAM IS ALSO OPEN TO LIFE LONG LEARNERS WHO ADD VALUE TO THE SHIP COMMUNITY. THE INSTITUTE DELIVERS THIS PROGRAM VIA A FLOATING VESSEL AND PLANS TWO VOYAGES TO COINCIDE WITH THE TRADITIONAL SEMIANNUAL SEMESTERS OFFERED BY MOST UNIVERSITIES. THE PROGRAM IS ACADEMICALLY SPONSORED BY OUR PARTNER COLORADO STATE UNIVERSITY AND ADMINISTERED BY THE INSTITUTE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE FOR SHIPBOARD EDUCATION ORGANIZES & ADMINISTERS THE EDUCATIONAL SEMESTER AT SEA PROGRAM. UNDERGRAD STUDENTS TAKE COLLEGE LEVEL COURSES IN CONJUNCTION WITH TRAVELING THE WORLD FOR A SEMESTER. THE INSTITUTE PLANS TWO VOYAGES TO COINCIDE WITH THE TRADITIONAL SEMIANNUAL SEMESTERS OFFERED BY MOST UNIVERSITIES. THE PROGRAM IS ACADEMICALLY SPONSORED BY COLORADO STATE UNIVERSITY AND ADMINISTERED BY THE INSTITUTE.
THE INSTITUTE NORMALLY OPERATES AN ANNUAL REUNION WHICH IS EITHER SHIP BASED AT A US PORT OR A SHORT THREE TO FIVE DAY VOYAGE. THE INSTITUTE ALSO HAS PROGRAM EXPENSES THAT ARE VOYAGE RELATED IN NATURE BUT NOT DIRECTLY ATTRIBUTABLE TO ANY SINGLE VOYAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Marshall President And CEO | OfficerTrustee | 40 | $270,980 |
Bobby Barber Cfo/vp Of Finance | Officer | 40 | $205,980 |
Audra Brickner VP Of Advancement | 40 | $188,598 | |
Laura Roth VP Of Student Affairs/enrollment Management | 40 | $148,380 | |
Michelle Normoyle-Dietz VP Of Human Resources | 40 | $135,980 | |
Gregory Chapman Chairman | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cruise Management International Ship Technical And Hotel Management | 5/30/22 | $9,282,575 |
Vital Design Llc Website Design | 5/30/22 | $150,450 |
Colorado State University Academic And Administrative Support | 5/30/22 | $333,758 |
Tefra Travel Logistics Gmgh Ship Supply Storage And Deliveries | 5/30/22 | $146,263 |
Tumlare Corporation Inc Field Program Operator | 5/30/22 | $371,571 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,857,506 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,428,471 |
| Noncash contributions included in lines 1a–1f | $76,552 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,285,977 |
| Total Program Service Revenue | $14,069,093 |
| Investment income | $967,138 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $673,996 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$32,417 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,995,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,631,218 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $527,268 |
| Compensation of current officers, directors, key employees. | $217,788 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,683,912 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $579,847 |
| Payroll taxes | $295,853 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $218,657 |
| Fees for services: Accounting | $62,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $31,371 |
| Fees for services: Investment Management | $13,389 |
| Fees for services: Other | $153,386 |
| Advertising and promotion | $407 |
| Office expenses | $354,086 |
| Information technology | $610,127 |
| Royalties | $0 |
| Occupancy | $116,616 |
| Travel | $73,623 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,801 |
| Interest | $34,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,793,497 |
| Insurance | $291,845 |
| All other expenses | $100,454 |
| Total functional expenses | $24,793,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,649,571 |
| Pledges and grants receivable | $3,466,091 |
| Accounts receivable, net | $1,286,182 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $74,831 |
| Prepaid expenses and deferred charges | $1,200,910 |
| Net Land, buildings, and equipment | $16,777,812 |
| Investments—publicly traded securities | $21,681,268 |
| Investments—other securities | $0 |
| Investments—program-related | $7,088,804 |
| Intangible assets | $0 |
| Other assets | $6,650 |
| Total assets | $58,232,119 |
| Accounts payable and accrued expenses | $3,000,285 |
| Grants payable | $0 |
| Deferred revenue | $2,990,480 |
| 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 | $2,000,000 |
| Other liabilities | $19,571,170 |
| Total liabilities | $27,561,935 |
| Net assets without donor restrictions | $12,944,405 |
| Net assets with donor restrictions | $17,725,779 |
| 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 | $58,232,119 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Institute For Shipboard Education has recieved totaling $443,013.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $254,580 |
Arizona Community Foundation Phoenix, AZ PURPOSE: PROGRAM SUPPORT | $60,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $49,907 |
Segal Family-United World Foundation Redondo Beach, CA PURPOSE: GENERAL OPERATING | $25,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $15,161 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $15,000 |
Endowment Analysis
| Beg. Balance | $10,383,487 |
| Earnings | -$440,065 |
| Net Contributions | $390,483 |
| Grants | $341,850 |
| Ending Balance | $9,992,055 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute For Shipboard Education Fort Collins, CO | $58,232,119 | $20,995,470 |
Kansas Leadership Center Inc Wichita, KS | $16,454,854 | $20,243,839 |
Northeastern State University Foundation Inc Tahlequah, OK | $45,168,633 | $4,906,328 |
Lighthouse Writers Workshop Inc Denver, CO | $2,205,609 | $2,806,436 |
Ridge View Academy Watkins, CO | $1,265,870 | $1,962,127 |
National Center For Higher Education Management Systems Boulder, CO | $1,695,091 | $1,714,166 |
Kansas Independent College Foundation Topeka, KS | $1,415,604 | $1,116,903 |
Naccu Fn Phoenix, AZ | $966,307 | $1,014,092 |
International Accreditation Council For Business Education Overland Park, KS | $1,074,515 | $994,397 |
Calvary Chapel University Inc Sun City, AZ | $136,073 | $744,729 |
Pawnee Nation College Pawnee, OK | $252,304 | $705,215 |
College Park At Grand Island Grand Island, NE | $3,314,253 | $506,914 |