MASSACHUSETTS HARBORMASTERS ASSOCI… - Form 990 Financial Data

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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

1966

Legal Domicile

Principal Officer

RONALD P MOTT

Phone

7816597206

Tax Period

2018-07-01 to 2019-06-30

MASSACHUSETTS HARBORMASTERS ASSOCIATION INC, founded in 1966, is a small nonprofit that reported $299K in total revenue in fiscal year 2018. Revenue surged 7306% from the prior year, signaling strong growth momentum. Expenses of $800K exceeded revenue, resulting in a 168% operating deficit.

Mission

THE MASSACHUSETTS HARBORMASTERS ASSOCIATION IS AN ORGANIZATION OF REGIONAL CHAPTERS OF HARBORMASTERS WORKING TOGETHER TO PROMOTE SAFE BOATING ON THE WATERS OF THE COMMONWEALTH OF MASSACHUSETTS. THE ORGANIZATION ENDEAVORS TO BRING BETTERS ADMINISTRATION TO THE WATERS OF THE COMMONWEALTH, TO ASSIST IN THE ADOPTION OF ANY NEW LEGISLATIVE PROGRAMS WHICH THE ASSOCIATION BELIEVES WOULD BE BENEFICIAL TO THE BOATING PUBLIC, AND TO AID AND INFORM THE HARBORMASTERS AND ASSISTANT HARBORMASTERS OF THE COMMONWEALTH.

Program Service Accomplishments

Program 1

Expenses: $296

TO AID AND PROMOTE THE GENERAL WELFARE AND SAFETY OF THE BOATING PUBLIC AND BRING BETTER ADMINISTRATION TO THE HARBORS OF THE COMMONWEALTH OF MASSACHUSETTS.

Program 2

Expenses: $799,856

U.S DEPARTMENT OF HOMELAND SECURITY PROJECT TO SECURE WATERWAYS AND ENHANCING PORT SECURITY BY INSTALLING A VIDEO MONITORING SYSTEM.

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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 (2018)

Revenue Breakdown

Contributions & Grants $297,202

Program Service Revenue $0

Investment Income $1,336

Other Revenue $0

TOTAL REVENUE $298,538

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,000

Fundraising Expenses $0

Program Expenses $800,152

Other Expenses $785,174

TOTAL EXPENSES $800,174

Year-over-Year Comparison

	2018	2017	Change
Revenue	$298,538	$4,031	+73.1%
Expenses	$800,174	$13,437	+58.6%
Net Income	$-501,636	$-9,406	+52.3%

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

N/A

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
CHARLES FAMOLARE III	PRESIDENT	1.00	Director	$0	$0	$0
RONALD P MOTT	TREASURER	1.00	Director	$0	$0	$0
KENNETH CORSON	VICE PRESIDENT	1.00	Director	$15,000	$0	$15,000
ROSEMARY LESCH	CLERK	1.00	Director	$0	$0	$0
KURT BORNHEIM	DIRECTOR	1.00	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
2019	$298,538	$800,174	$3,866	$-501,636

MASSACHUSETTS HARBORMASTERS ASSOCIATION INC