Block Island Maritime Funding Inc (EIN 050507802) - 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

2001

Legal Domicile

Principal Officer

Nathaniel Harris

Phone

4018420752

Tax Period

2024-01-01 to 2024-12-31

Block Island Maritime Funding Inc, founded in 2001, is a community nonprofit in the Youth Development sector that reported $4.3M in total revenue in fiscal year 2024. Revenue surged 133% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.7M, a strong 63% operating margin.

Mission

Supports youth sailing programs.

🔒

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 (2024)

Revenue Breakdown

Contributions & Grants $4,088,150

Program Service Revenue $421,958

Investment Income $-199,313

Other Revenue $0

TOTAL REVENUE $4,310,795

Expense Breakdown

Grants Paid $0

Salaries & Benefits $156,420

Fundraising Expenses $0

Program Expenses $1,406,388

Other Expenses $1,435,966

TOTAL EXPENSES $1,592,386

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,310,795	$1,850,050	+1.3%
Expenses	$1,592,386	$1,515,538	+0.1%
Net Income	$2,718,409	$334,512	+7.1%

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

N/A

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

$79,486

Total Directors

$79,486

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard T Harris	Director	040.00	Officer Director	$39,000	$2,717	$41,717
Linda Harris	Secretary	030.00	Officer Director	$37,769	$0	$37,769
Nathaniel Harris	President	005.00	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	$4,310,795	$1,592,386	$4,829,041	$2,718,409
2023	$1,850,050	$1,515,538	$2,117,351	$334,512
2022	$1,093,821	$1,600,300	$1,778,340	$-506,479
2021	$1,817,313	$1,759,039	$2,339,750	$58,274
2020	$1,274,723	$1,457,686	$2,375,471	$-182,963
2019	$663,606	$1,456,518	$2,540,178	$-792,912
2018	$-266,789	$2,083,889	$3,319,482	$-2,350,678

Block Island Maritime Funding Inc