NEW BEDFORD PORT SOCIETY

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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

1830

Legal Domicile

Principal Officer

PHILIP OLIVEIRA

Phone

5089923295

Tax Period

2023-10-01 to 2024-09-30

NEW BEDFORD PORT SOCIETY, founded in 1830, is a small nonprofit that reported $749K in total revenue in fiscal year 2023. The organization ran a surplus of $359K, a strong 48% operating margin.

Mission

THE SOCIETY PROVIDES MORAL, RELIGOUS, AND PROFESSIONAL INSTRUCTION TO SEAMEN. THE SOCIETY OWNS AND OPERATES THE SEAMEN'S BETHEL AND MARINER'S HOME.

Program Service Accomplishments

Program 1

Expenses: $202,316

TO MAINTAIN, RENOVATE, AND RESTORE THE SEAMEN'S BETHEL AND MARINER'S HOME SO THAT FUTURE GENERATIONS MAY LEARN FROM AND ENJOY THE HISTORY OF THESE TWO LANDMARKS IN NEW BEDFORD.

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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 $151,795

Program Service Revenue $0

Investment Income $588,822

Other Revenue $8,430

TOTAL REVENUE $749,047

Expense Breakdown

Grants Paid $0

Salaries & Benefits $79,081

Fundraising Expenses $0

Program Expenses $202,316

Other Expenses $311,044

TOTAL EXPENSES $390,125

Year-over-Year Comparison

	2023	2022	Change
Revenue	$749,047	$693,806	+0.1%
Expenses	$390,125	$311,669	+0.3%
Net Income	$358,922	$382,137	-0.1%

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

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
PHILIP OLIVEIRA	PRESIDENT	N/A	Officer Director	$0	$0	$0
PAUL J STUBBS	TREASURER	N/A	Officer Director	$0	$0	$0
HON ARMAND FERNANDES	DIRECTOR	N/A	Director	$0	$0	$0
LORING WEEKS	ASSISTANT CL	N/A	Officer Director	$0	$0	$0
DR BRIAN ROTHSCHILD	DIRECTOR	N/A	Director	$0	$0	$0
MATTHEW J DOWNEY	CLERK	N/A	Officer Director	$0	$0	$0
BRUCE OLIVEIRA	ASSIST TREAS	N/A	Officer Director	$0	$0	$0
CHARLES COTTER	DIRECTOR	N/A	Director	$0	$0	$0
THOMAS WALSH	DIRECTOR	N/A	Director	$0	$0	$0
CAPT ROY ENOKSEN	DIRECTOR	N/A	Director	$0	$0	$0
CHRIS A HENDDRICKS	DIRECTOR	N/A	Director	$0	$0	$0
TIMOTHY WALKER	2ND VICE PRE	N/A	Officer Director	$0	$0	$0
PETER ANTHONY	DIRECTOR	N/A	Director	$0	$0	$0
PETER HALEY	DIRECTOR	N/A	Director	$0	$0	$0
WILLIAM CLARK	DIRECTOR	N/A	Director	$0	$0	$0
E JEFFREY PONTIFF	DIRECTOR	N/A	Director	$0	$0	$0
PHILLIP BEAUREGARD	DIRECTOR	N/A	Director	$0	$0	$0
JESSE ST GELAIS	DIRECTOR	N/A	Director	$0	$0	$0
RICHARD FABIO	DIRECTOR	N/A	Director	$0	$0	$0
DAVID DUGGAN	1ST VICE PRE	N/A	Officer Director	$0	$0	$0
FREDERICK TOOMEY	DIRECTOR	N/A	Director	$0	$0	$0
JOSEPH FINNERTY	DIRECTOR	N/A	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	$447,338	$392,580	$7,511,645	$54,758
2024	$749,047	$390,125	$6,524,824	$358,922
2023	$693,806	$311,669	$6,195,942	$382,137
2022	$240,067	$160,669	$5,783,931	$79,398
2021	$488,251	$129,674	$6,396,471	$358,577
2020	$292,635	$129,583	$5,984,420	$163,052
2019	$450,330	$153,829	$5,745,480	$296,501
2018	$511,267	$133,604	$5,414,325	$377,663