BOSTON SHIPPING ASSOCIATION INC (EIN 042034907) - Form 990 Financial Analysis & Trantor Score

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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

1946

Legal Domicile

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

TO ENCOURAGE HARMONIOUS RELATIONS BETWEEN PARTIES WHICH ENGAGE IN BOSTON MARITIME INTERESTS

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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 $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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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

$332,518

Total Directors

$332,518

Key Employees

Highest Compensated

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

BOSTON SHIPPING ASSOCIATION INC