MARINE SOCIETY AT SALEM

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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

1850

Legal Domicile

Principal Officer

JOANIE INGRAHAM

Phone

8004260501

Tax Period

2024-09-01 to 2025-08-31

MARINE SOCIETY AT SALEM, founded in 1850, is a small nonprofit that reported $152K in total revenue in fiscal year 2024. Revenue fell 89% from the prior year — a significant decline worth monitoring. Expenses of $173K exceeded revenue, resulting in a 14% operating deficit.

Mission

PROVIDE GRANTS TO MARITIME ORGANIZATIONS

Program Service Accomplishments

Program 1

Expenses: $127,967 Revenue: $174,227

PROMOTE AND ENCOURAGE INTEREST IN THE MARITIME HISTORY AND CONSERVATION OF MARITIME ARTIFACTS RELATING TO SALEM MASSACHUSETTS AND PROVIDE GRANTS TO ORGANIZATIONS AND INDIVIDUALS WITH MARITME...

PROMOTE AND ENCOURAGE INTEREST IN THE MARITIME HISTORY AND CONSERVATION OF MARITIME ARTIFACTS RELATING TO SALEM MASSACHUSETTS AND PROVIDE GRANTS TO ORGANIZATIONS AND INDIVIDUALS WITH MARITME ASSOCIATION

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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 (2024)

Revenue Breakdown

Contributions & Grants $900

Program Service Revenue $0

Investment Income $150,770

Other Revenue $0

TOTAL REVENUE $151,670

Expense Breakdown

Grants Paid $73,300

Salaries & Benefits $17,490

Fundraising Expenses $0

Program Expenses $127,967

Other Expenses $82,677

TOTAL EXPENSES $173,467

Year-over-Year Comparison

	2024	2023	Change
Revenue	$151,670	$1,431,321	-0.9%
Expenses	$173,467	$170,996	+0.0%
Net Income	$-21,797	$1,260,325	-1.0%

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

$15,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOANIE V INGRAHAM	TREASURER	3.00	Director	$0	$0	$0
ALBERT LELAND GOODHUE	ASSISTANT TREASURER	3.00	Director	$5,000	$0	$5,000
ALLAN VAUGHN	CLERK	5.00	Director	$5,000	$0	$5,000
RAY BATES	MASTER	2.00	Director	$0	$0	$0
BOB BLAIR	DEPUTY MASTER	5.00	Director	$0	$0	$0
ROBERT REARDON	QUARTERMASTER	5.00	Director	$5,000	$0	$5,000

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
2025	$151,670	$173,467	$6,830,055	$-21,797
2024	$1,431,321	$170,996	$6,423,804	$1,260,325
2023	$316,551	$155,525	$5,764,934	$161,026
2022	$330,310	$140,263	$5,484,326	$190,047
2021	$250,972	$144,980	$6,339,238	$105,992
2020	$211,342	$147,576	$5,498,693	$63,766
2019	$310,360	$147,004	$5,083,778	$163,356