LUNDEBERG MARYLAND SEAMANSHIP SCHOOL INC (EIN 112206183) - Form 990 Financial Analysis & Trantor Score

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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

1967

Legal Domicile

Principal Officer

MARGARET BOWEN

Phone

3018990675

Tax Period

2024-01-01 to 2024-12-31

LUNDEBERG MARYLAND SEAMANSHIP SCHOOL INC, founded in 1967, is a community nonprofit in the Education sector that reported $8.3M in total revenue in fiscal year 2024. Expenses of $30.2M exceeded revenue, resulting in a 263% operating deficit.

Mission

TRAINING AND UPGRADING OF MERCHANT SEAMEN.

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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 $0

Program Service Revenue $5,642,282

Investment Income $520,374

Other Revenue $2,166,475

TOTAL REVENUE $8,329,131

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,455,308

Fundraising Expenses $0

Program Expenses $26,898,539

Other Expenses $13,754,034

TOTAL EXPENSES $30,209,342

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,329,131	$7,980,173	+0.0%
Expenses	$30,209,342	$29,053,825	+0.0%
Net Income	$-21,880,211	$-21,073,652	+0.0%

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

188

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
ANTHONY NACCARRATO	CHAIRMAN	1.00	Officer	$0	$0	$0
PAT VANDEGRIFT	ACTING VICE-PRESIDENT	40.00	Officer	$0	$0	$0
MARGARET BOWEN	VICE PRESIDENT/TREASURER	1.00	Officer	$0	$0	$0
PETER J LUHN	INSTRUCTOR	40.00	Highest	$152,707	$20,535	$173,242
HOWARD J THOMPSON	INSTRUCTOR	40.00	Highest	$139,897	$37,569	$177,466
ROBERT W JOHNSON	INSTRUCTOR	40.00	Highest	$128,715	$14,639	$143,354
PRISCILLA L LABANOWSKI	INSTRUCTOR	40.00	Highest	$128,265	$0	$128,265
ADRIAN S HALL JR	INSTRUCTOR	40.00	Highest	$125,135	$0	$125,135

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	$8,329,131	$30,209,342	$42,160,100	$-21,880,211
2023	$7,980,173	$29,053,825	$44,123,203	$-21,073,652
2022	$5,844,052	$26,693,617	$44,546,081	$-20,849,565
2021	$7,542,637	$24,981,631	$45,157,117	$-17,438,994
2020	$3,852,475	$24,289,530	$41,840,130	$-20,437,055
2019	$7,019,437	$27,182,842	$38,524,673	$-20,163,405
2018	$6,493,527	$26,372,981	$38,025,972	$-19,879,454

LUNDEBERG MARYLAND SEAMANSHIP SCHOOL INC