NORTHEAST HARBOR FLEET

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1923

Legal Domicile

Principal Officer

PETER ILL

Phone

2072765101

Tax Period

2023-01-01 to 2023-12-31

NORTHEAST HARBOR FLEET, founded in 1923, is a small nonprofit that reported $509K in total revenue in fiscal year 2023. The organization ran a surplus of $174K, a strong 34% operating margin.

Mission

THE PURPOSE OF THE NORTHEAST HARBOR FLEET IS TO PROVIDE RACING & CRUISING ACTIVITIES SERVING 427 MEMBERS IN NORTHEAST HARBOR, MAINE

Program Service Accomplishments

Program 1

CONDUCTS RACING FOR SEVERAL ONE-DESIGN CLASSES AND A CRUSISING CLASS. HOSTS MAJOR REGIONAL AND WORLD SAILING CHAMPIONSHIPS AND THEIR PARTICIPANTS.

Program 2

PROVIDES GROUNDS, FACILITIES AND SUPPORT FOR THE NORTHEAST HARBOR SAILING SCHOOL, AND PROMOTES SAILING THROUGH EDUCATIONAL SEMINARS FOR AREA SAILORS.

Program 3

PROVIDING A BASE OF OPERATIONS, INCLUDING DOCKS, FLOATS, MOORINGS AND LAUNCHES FOR THE USE OF WATERCRAFT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $471,540

Program Service Revenue $30,573

Investment Income $6,937

Other Revenue $0

TOTAL REVENUE $509,050

Expense Breakdown

Grants Paid $0

Salaries & Benefits $143,134

Fundraising Expenses $0

Other Expenses $192,205

TOTAL EXPENSES $335,339

Year-over-Year Comparison

	2023	2022	Change
Revenue	$509,050	$491,613	+0.0%
Expenses	$335,339	$393,091	-0.1%
Net Income	$173,711	$98,522	+0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIA THOMPSON	PRESIDENT/CO	1.00	Officer Director	$0	$0	$0
MARION MACNEISH-MARRON	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN HENRY	VICE COMMODO	1.00	Officer Director	$0	$0	$0
PETER ILL	REAR COMMODO	1.00	Officer Director	$0	$0	$0
LEE FREEMAN FOX	CLERK	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$509,050	$335,339	$1,352,964	$173,711
2022	$491,613	$393,091	$1,024,736	$98,522
2021	$399,306	$286,262	$995,946	$113,044
2020	$347,455	$284,200	$802,705	$63,255
2019	$342,318	$288,315	$704,601	$54,003
2018	$404,465	$278,629	$604,501	$125,836