BOSTON SHIPPING ASSOCIATION INC

EIN: 042034907

CHARLESTOWN, MA

Total Revenue
$1,897,278
Total Expenses
$1,735,232
Total Assets
$2,785,996
Net Assets
$2,036,205
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1946
Legal Domicile
MA
Principal Officer
DENNIS MINISCALCO
Phone
6172423303
Tax Period
2023-10-01 to 2024-09-30

BOSTON SHIPPING ASSOCIATION INC, founded in 1946, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.7M left a modest 9% surplus.

Mission

THE PURPOSE OF THIS ASSOCIATION IS TO ASSIST IN ENCOURAGING FRIENDLY AND HARMONIOUS RELATIONS BETWEEN SHIP OWNERS, SHIPPING AGENTS, CUSTOMS HOUSE BROKERS, FREIGHT FORWARDERS, CHARTERERS, CONTRACTING STEVEDORES AND ALL OTHER INDIVIDUALS, FIRMS, AND CORPORATIONS ENGAGED IN OR AFFILIATED WITH THE MARITIME INTERESTS IN BOSTON AND ITS VICINITY; TO SERVE ITS MEMBERS IN THE NEGOTIATION AND CARRYING OUT OF LABOR AGREEMENTS BETWEEN EMPLOYERS AND EMPLOYEES; TO IMPROVE WORKING CONDITIONS IN THE SHIPPING INDUSTRY AND TO ENCOURAGE SOUND BUSINESS RELATIONSHIPS BETWEEN THE MEMBERS AND THE EMPLOYEES; TO PROMOTE THE GROWTH OF MARITIME TRADE THROUGH THE PORT OF BOSTON; ENCOURAGE AND ASSIST FEDERAL, STATE AND LOCAL GOVERNMENT, PUBLIC AND PRIVATE ENTITIES IN AS A MARITIME STATE; TO CARRY OUT ALL OTHER THINGS LAWFULLY PERMITTED UNDER CHAPTER 180 OF THE GENERAL LAWS AND AMENDMENTS THERETO.

Program Service Accomplishments

Program 1
Expenses: $1,164,515 Revenue: $1,312,365

THE PURPOSE OF THIS ASSOCIATION IS TO ASSIST IN ENCOURAGING FRIENDLY AND HARMONIOUS RELATIONS BETWEEN SHIP OWNERS, SHIPPING AGENTS, CUSTOMS HOUSE BROKERS, FRIEGHT FORWARDERS, CHARTERERS, CONTRACTING...

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THE PURPOSE OF THIS ASSOCIATION IS TO ASSIST IN ENCOURAGING FRIENDLY AND HARMONIOUS RELATIONS BETWEEN SHIP OWNERS, SHIPPING AGENTS, CUSTOMS HOUSE BROKERS, FRIEGHT FORWARDERS, CHARTERERS, CONTRACTING STEVEDORES AND ALL OTHER INDIVIDUALS, FIRMS, AND CORPORATIONS ENGAGED IN OR AFFILIATED WITH THE MARITIME INTERESTS IN BOSTON AND ITS VICINITY; TO SERVE ITS MEMBERS IN THE NEGOTIATION AND CARRYING OUT OF LABOR AGREEMENTS BETWEEN EMPLOYERS AND EMPLOYEES; TO IMPROVE WORKING CONDITIONS IN THE SHIPPING INDUSTRY AND TO ENCOURAGE SOUND BUSINESS RELATIONSHIPS BETWEEN THE MEMBERS AND THE EMPLOYEES; TO PROMOTE THE GROWTH OF MARITIME TRADE THROUGH THE PORT OF BOSTON; ENCOURAGE AND ASSIST FEDERAL, STATE AND LOCAL GOVERNMENT, PUBLIC AND PRIVATE ENTITIES IN AS A MARITIME STATE; TO CARRY OUT ALL OTHER THINGS LAWFULLY PERMITTED UNDER CHAPTER 180 OF THE GENERAL LAWS AND AMENDMENTS THERETO.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,312,365
Investment Income $73,736
Other Revenue $511,177
TOTAL REVENUE $1,897,278

Expense Breakdown

Grants Paid $0
Salaries & Benefits $681,533
Fundraising Expenses $0
Program Expenses $1,164,515
Other Expenses $1,053,699
TOTAL EXPENSES $1,735,232

Year-over-Year Comparison

2023 2022 Change
Revenue $1,897,278 $1,742,915 +0.1%
Expenses $1,735,232 $1,674,779 +0.0%
Net Income $162,046 $68,136 +1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
12
Employees
5
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
3
$332,518
Total Directors
13
$332,518
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM ELDRIDGE PRESIDENT 1.50
Officer Director
$0 $0 $0
RYAN COX BSA TRUSTEE 1.50
Director
$0 $0 $0
WILLIAM FLUKE BSA TRUSTEE 1.50
Director
$0 $0 $0
CHRIS ZUFFANTE BSA TRUSTEE 1.50
Officer Director
$0 $0 $0
RICK ELLIOT BSA TRUSTEE 1.50
Director
$0 $0 $0
KELLY STRONG BSA TRUSTEE 25.00
Officer Director
$332,518 $0 $332,518
DAVID POWELL BSA TRUSTEE 1.50
Director
$0 $0 $0
JOSEPH MORRIS BSA TRUSTEE 1.50
Director
$0 $0 $0
BRIAN DAY SECRETARY-TREASURER 1.50
Director
$0 $0 $0
GAVIN BLACK BSA TRUSTEE 1.50
Director
$0 $0 $0
NICK ELDRIDGE BSA TRUSTEE 1.50
Director
$0 $0 $0
GERARD BUCKLEY TRUSTEE 1.50
Director
$0 $0 $0
MARSHALL GREENLAND TRUSTEE 1.50
Director
$0 $0 $0
DENNIS MINISCALCO CONTROLLER 25.00
Highest
$163,447 $0 $163,447
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 $1,897,278 $1,735,232 $2,785,996 $162,046
2023 $1,742,915 $1,674,779 $2,560,425 $68,136
2022 $1,446,565 $1,645,390 $1,876,036 $-198,825
2021 $1,513,604 $1,608,310 $2,044,138 $-94,706
2020 $1,658,131 $1,675,169 $2,193,742 $-17,038
2019 $1,671,051 $1,630,686 $2,217,954 $40,365
2018 $1,508,261 $1,402,385 $2,110,952 $105,876
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