BLOCK ISLAND MARITIME INSTITUTE INC (EIN 050496605) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

DOUGLAS MACDOUGALL

Phone

4015003501

Tax Period

2023-01-01 to 2023-12-31

BLOCK ISLAND MARITIME INSTITUTE INC, founded in 1998, is a small nonprofit in the Education sector that reported $319K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Net assets of $937K represent 35 months of operating reserves.

Mission

MARINE EDUCATIONAL PROGRAMS TO TEACH STUDENTS & THE GENERAL PUBLIC SKILLS IN THIS AREA

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $192,939

Program Service Revenue $0

Investment Income $0

Other Revenue $125,869

TOTAL REVENUE $318,808

Expense Breakdown

Grants Paid $0

Salaries & Benefits $117,530

Fundraising Expenses $0

Program Expenses $248,267

Other Expenses $209,267

TOTAL EXPENSES $326,797

Year-over-Year Comparison

	2023	2022	Change
Revenue	$318,808	$284,969	+0.1%
Expenses	$326,797	$240,918	+0.4%
Net Income	$-7,989	$44,051	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN AVERNA	Director	5.00	Director	$0	$0	$0
NANCY RUDDLE	Director	5.00	Director	$0	$0	$0
DOUGLAS MACDOUGALL	President	5.00	Director	$0	$0	$0
HENRY HILL	Vice President	5.00	Director	$0	$0	$0
MEGAN MCCLELLAN	Director	5.00	Director	$0	$0	$0
ROBERT ROHN	Director	5.00	Director	$0	$0	$0
SUSAN WEISSMAN	Treasurer	5.00	Director	$0	$0	$0
GEORGE DAVIS	Director	5.00	Director	$0	$0	$0
JOHN LEHMAN	Vice President	5.00	Director	$0	$0	$0
PAMELA GELSOMINI	Director	5.00	Director	$0	$0	$0
DAN MCLAUGHLIN	Director	5.00	Director	$0	$0	$0
CRAIG FONTAINE	Director	5.00	Director	$0	$0	$0
KATHLEEN MCDONALD	Director	5.00	Director	$0	$0	$0
NORM RICHTER	Secretary	5.00	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
2024	No data	No data	No data	No data
2023	$318,808	$326,797	$1,095,814	$-7,989
2022	$284,969	$240,918	$1,143,281	$44,051
2021	$285,256	$201,134	$1,142,890	$84,122
2020	$297,641	$195,487	$999,491	$102,154

BLOCK ISLAND MARITIME INSTITUTE INC