THE USMMA SAILING FOUNDATION INC

EIN: 113561278 501(c)(3) Education

SPRING HILL, TN

Total Revenue
$17,989,915
Total Expenses
$17,879,302
Total Assets
$41,682,319
Net Assets
$40,894,797
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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
2000
Legal Domicile
DE
Principal Officer
LARRY A LARSEN
Phone
6154658201
Tax Period
2023-01-01 to 2023-12-31

THE USMMA SAILING FOUNDATION INC, founded in 2000, is a mid-sized nonprofit in the Education sector that reported $18.0M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Net assets of $40.9M represent 27 months of operating reserves.

Mission

TO SUPPORT THE UNITED STATES MERCHANT MARINE ACADEMY AND OTHER 501(C)(3) ORGANIZATIONS AND CONDUCT MARITIME EDUCATION AND TRAINING.

Program Service Accomplishments

Program 1
Expenses: $17,407,485

RECEIVING AND ADMINISTRATING CHARITABLE GIFTS, DEVISES AND BEQUESTS OF BOATS, TOGETHER WITH ASSOCIATED EQUIPMENT AND FUNDS FOR THE MAINTENANCE OF SUCH BOATS, FROM THE PUBLIC IN SUPPORT OF THE...

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RECEIVING AND ADMINISTRATING CHARITABLE GIFTS, DEVISES AND BEQUESTS OF BOATS, TOGETHER WITH ASSOCIATED EQUIPMENT AND FUNDS FOR THE MAINTENANCE OF SUCH BOATS, FROM THE PUBLIC IN SUPPORT OF THE FOUNDATION'S MISSION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $17,105,914
Program Service Revenue $0
Investment Income $-866,250
Other Revenue $1,750,251
TOTAL REVENUE $17,989,915

Expense Breakdown

Grants Paid $474,432
Salaries & Benefits $668,141
Fundraising Expenses $153,784
Program Expenses $17,407,485
Other Expenses $16,736,729
TOTAL EXPENSES $17,879,302

Year-over-Year Comparison

2023 2022 Change
Revenue $17,989,915 $23,174,349 -0.2%
Expenses $17,879,302 $14,502,572 +0.2%
Net Income $110,613 $8,671,777 -1.0%
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

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Governance

Voting Members
5
Independent Members
4
Employees
7
Volunteers
5

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
3
$290,400
Total Directors
5
$150,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFERY G NEUBERTH CHAIRMAN 3.00
Officer Director
$0 $0 $0
PAUL STRAUCH TRUSTEE 3.00
Director
$0 $0 $0
BRIAN GIORGIO TRUSTEE 3.00
Director
$0 $0 $0
CHRISTOPHER J GASIOREK TRUSTEE 3.00
Director
$0 $0 $0
RALF STEITZ PRESIDENT 40.00
Officer Director
$125,000 $25,000 $150,000
LARRY A LARSEN SECRETARY/TREASURER 40.00
Officer
$140,400 $0 $140,400
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 $17,989,915 $17,879,302 $41,682,319 $110,613
2022 $23,174,349 $14,502,572 $41,405,905 $8,671,777
2021 $5,996,554 $13,164,167 $32,552,654 $-7,167,613
2020 $5,647,289 $9,014,836 $40,024,161 $-3,367,547
2019 $6,017,341 $11,518,901 $42,815,023 $-5,501,560
2018 $11,364,744 $13,206,545 $48,359,647 $-1,841,801
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