NORWALK SEAPORT ASSOCIATION INC

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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

1978

Legal Domicile

Principal Officer

RICHARD MCQUAID

Phone

2038389444

Tax Period

2025-01-01 to 2025-12-31

NORWALK SEAPORT ASSOCIATION INC, founded in 1978, is a small nonprofit in the Arts, Culture & Humanities sector that reported $661K in total revenue in fiscal year 2025. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $736K exceeded revenue, resulting in a 11% operating deficit.

Mission

THE NORWALK SEAPORT ASSOCIATION, INC. OFFERS A CULTURAL, ENVIRONMENTAL, AND HISTORICAL JOURNEY TO THE NORWALK ISLANDS. THE SHEFFIELD ISLAND LIGHTHOUSE AND THE LIGHT KEEPER'S COTTAGE PROVIDE A UNIQUE HISTORICAL AND EDUCATIONAL VENUE WHICH STRIVES TO INCREASE AWARENESS, APPRECIATION AND CONSIDERATION FOR OUR ENVIRONMENT AND HOW THE PRESERVATION OF HISTORIC BUILDINGS AND NATURE CONTRIBUTE TO OUR QUALITY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $385,097 Revenue: $261,226

THE SHEFFIELD ISLAND LIGHTHOUSE AND ADJACENT KEEPER'S COTTAGE ARE LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES. THE ASSOCIATION OWNS AND MAINTAINS THE LIGHTHOUSE AND COTTAGE AS A HISTORICAL AND...

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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 (2025)

Revenue Breakdown

Contributions & Grants $164,530

Program Service Revenue $261,226

Investment Income $27,699

Other Revenue $207,995

TOTAL REVENUE $661,450

Expense Breakdown

Grants Paid $0

Salaries & Benefits $267,426

Fundraising Expenses $150,471

Program Expenses $385,097

Other Expenses $468,214

TOTAL EXPENSES $735,640

Year-over-Year Comparison

	2025	2024	Change
Revenue	$661,450	$489,895	+0.4%
Expenses	$735,640	$530,998	+0.4%
Net Income	$-74,190	$-41,103	+0.8%

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

500

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

$95,040

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY TONI	EXECUTIVE DI	40.00	Officer	$95,040	$0	$95,040
RICHARD MCQUAID	PRESIDENT	10.00	Officer Director	$0	$0	$0
JAMES FERGUSON	VICE PRESIDE	10.00	Officer Director	$0	$0	$0
MAUREEN BONENFANT	SECRETARY	10.00	Officer Director	$0	$0	$0
GERALD RABIN	TREASURER	10.00	Officer Director	$0	$0	$0
LINDA CAPPELLO	DIRECTOR	5.00	Director	$0	$0	$0
CHARLES CHINZI	DIRECTOR	5.00	Director	$0	$0	$0
BRUCE CROSS	DIRECTOR	5.00	Director	$0	$0	$0
STEVE DEMARCO SR	DIRECTOR	5.00	Director	$0	$0	$0
JIM EROTOPOULOS	DIRECTOR	5.00	Director	$0	$0	$0
DONNA FERGUSON	DIRECTOR	5.00	Director	$0	$0	$0
SHENTON KING	DIRECTOR	5.00	Director	$0	$0	$0
CHUCK KRIEWALD	DIRECTOR	5.00	Director	$0	$0	$0
JIM MADDEN	DIRECTOR	5.00	Director	$0	$0	$0
URBAN MULVEHILL JR	DIRECTOR	5.00	Director	$0	$0	$0
URBAN MULVEHILL III	DIRECTOR	5.00	Director	$0	$0	$0
CAROL POTE	DIRECTOR	5.00	Director	$0	$0	$0
MIKE REILLY	DIRECTOR	5.00	Director	$0	$0	$0
JEREMY RUBINO	DIRECTOR	5.00	Director	$0	$0	$0
EMANUEL SANTA-DONATO	DIRECTOR	5.00	Director	$0	$0	$0
LILLIAN SANTA-DONATO	DIRECTOR	5.00	Director	$0	$0	$0
JOHNATHAN SMALL	DIRECTOR	5.00	Director	$0	$0	$0
ROBERT TERPIN	DIRECTOR	5.00	Director	$0	$0	$0
ANDREW THANE	DIRECTOR	5.00	Director	$0	$0	$0
MORGAN WETMORE	DIRECTOR	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
2025	$661,450	$735,640	$2,305,917	$-74,190
2024	No data	No data	No data	No data
2023	$478,246	$490,302	$2,321,831	$-12,056
2022	$1,319,105	$477,947	$2,336,122	$841,158
2021	$1,130,200	$361,943	$1,586,359	$768,257
2020	$261,013	$297,649	$832,571	$-36,636
2019	$545,772	$443,232	$875,668	$102,540
2018	$200,837	$421,809	$747,722	$-220,972