NATIONAL CARGO BUREAU 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

1952

Legal Domicile

Principal Officer

IAN J LENNARD

Phone

2127858300

Tax Period

2024-01-01 to 2024-12-31

NATIONAL CARGO BUREAU INC, founded in 1952, is a mid-sized nonprofit that reported $36.3M in total revenue in fiscal year 2024. Revenue surged 50% from the prior year, signaling strong growth momentum. The organization ran a surplus of $13.9M, a strong 38% operating margin.

Mission

THE PURPOSE FOR WHICH NCB WAS FORMED IS TO FORMULATE AND RECOMMEND PROCEDURES, PRACTICES, RULES AND REGULATIONS FOR THE SAFE LOADING, STOWING, SECURING AND UNLOADING OF CARGO AND SUITABILITY OF CARGO HANDLING GEAR AND CARGO CONTAINERS, INCLUDING THE SECURITY AND INTEGRITY OF CONTAINERS; TO PROVIDE INSPECTION SERVICES IN RELATION TO THE LOADING, STOWING, SECURING AND UNLOADING OF CARGO AND CARGO CONTAINERS AND AS TO THE DESIGN, STRENGTH, SAFETY AND SUITABILITY OF CARGO HANDLING GEAR AND CARGO CONTAINERS, INCLUDING THE SECURITY AND INTEGRITY OF CONTAINERS; TO ISSUE CERTIFICATES, EITHER IN ITS OWN NAME OR AS AGENT, IN RESPECT OF THE FOREGOING; AND GENERALLY TO PROMOTE THE SAFETY OF LIFE AND CARGO AT SEA.

Program Service Accomplishments

Program 1

THE BUREAU PROVIDES RECOMMENDATIONS FOR THE SAFE STOWAGE OF DANGEROUS GOODS AND OTHER CARGOES, AND DESIGN, STRENGTH, SAFETY AND SUITABILITY OF CARGO HANDLING GEAR AND CARGO CONTAINERS INCLUDING THE SECURITY AND INTEGRITY OF CONTAINERS. IT WORKS AT THE INDUSTRY LEVEL TO ACHIEVE UNIFORMITY OF SAFETY STANDARDS AND REGULATIONS AND TO REMOVE OBSTACLES THAT RESULT FROM LACK OF UNIFORMITY FOR THE STOWAGE OF CARGO. NCB OFFERS LOW COST CARGO LOADING INSPECTION SERVICE, WHETHER ABOARD VESSELS OR IN CONTAINERS, AND AN INSPECTION SERVICE OF CARGO, CONTAINERS AND CARGO HANDLING GEAR; AND GENERALLY, TO PROMOTE THE SAFETY OF LIFE AND CARGO.

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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 $24,167,316

Investment Income $11,987,708

Other Revenue $101,997

TOTAL REVENUE $36,257,021

Expense Breakdown

Grants Paid $76,500

Salaries & Benefits $18,301,388

Fundraising Expenses $0

Other Expenses $3,991,583

TOTAL EXPENSES $22,369,471

Year-over-Year Comparison

	2024	2023	Change
Revenue	$36,257,021	$24,111,629	+0.5%
Expenses	$22,369,471	$20,798,903	+0.1%
Net Income	$13,887,550	$3,312,726	+3.2%

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

128

Volunteers

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

$2,505,918

Total Directors

$1,851,090

Key Employees

$2,206,988

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
IAN J LENNARD	PRESIDENT/CEO	40.00	Officer Director	$951,297	$237,796	$1,189,093
KRISTIAN WIEDE	CHIEF FINANCIAL OFFICER	40.00	Officer Director	$462,496	$199,501	$661,997
SEAN M DALTON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PHILIP H GREENE	DEPUTY CHAIRMAN	1.00	Officer Director	$0	$0	$0
MICHAEL CSORBA	TREASURER	1.00	Officer Director	$0	$0	$0
ROGER ABLETT	DIRECTOR THRU MARCH 2024	1.00	Director	$0	$0	$0
JOSEPH BREGLIA	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINIA CAMERON	DIRECTOR THRU MARCH 2024	1.00	Director	$0	$0	$0
JEFF CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH J COX	DIRECTOR	1.00	Director	$0	$0	$0
ANNE MARIE ELDER	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD D DESIMONE	DIRECTOR	1.00	Director	$0	$0	$0
JEFF DIXON	DIRECTOR	1.00	Director	$0	$0	$0
IAN DUTHIE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN J FERRARA	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT C GALLAGHER	DIRECTOR	1.00	Director	$0	$0	$0
KAREN GRISWOLD	DIRECTOR	1.00	Director	$0	$0	$0
CLIFFORD JAGOE	DIRECTOR THRU MARCH 2024	1.00	Director	$0	$0	$0
DEIRDRE H LITTLEFIELD	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS MERRELL	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN MURPHY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN W MURRAY	DIRECTOR THRU MARCH 2024	1.00	Director	$0	$0	$0
JAMES P NAWOJCHIK	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SOJA	DIRECTOR	1.00	Director	$0	$0	$0
JACK SULLIVAN	DIRECTOR THRU MARCH 2024	1.00	Director	$0	$0	$0
SOSIMO J FABIAN GENERAL	COUNSEL/CORPORATION SECRETARY	40.00	Officer	$353,757	$62,152	$415,909
MIKE DURKIN	CHIEF INFORMATION OFFICER	20.00	Officer	$0	$11,707	$238,919
SCOTT D BROWN	CHIEF, MARINE RISK ENGINEER	40.00	Key Emp	$292,498	$117,402	$409,900
ERIC T ROUNDS	CHIEF SURVEYOR	40.00	Key Emp	$281,079	$105,620	$386,699
EDWARD F WALKER	DEPUTY CHIEF SURVEYOR	40.00	Key Emp	$235,736	$85,743	$321,479
JORGE A PECCI-SAAVEDRA	DIRECTOR, MARINE RISK ENGINEERING	40.00	Key Emp	$211,273	$77,316	$288,589
ROBERT T HARRIS	DEPUTY CHIEF SURVEYOR	40.00	Key Emp	$210,377	$67,340	$277,717
EMILY H LAI	DEPUTY CHIEF SURVEYOR	40.00	Key Emp	$183,665	$97,353	$281,018
MATTHEW G SEIF	DEPUTY CHIEF SURVEYOR	40.00	Key Emp	$176,038	$65,548	$241,586
MURAT KOKSEL	DIRECTOR, CARGO METRICS	40.00	Highest	$207,393	$52,534	$259,927
ANDREW KOSZEGI	SENIOR SURVEYOR	40.00	Highest	$183,128	$76,671	$259,799
GRAEME A MCPHEE	DIRECTOR, HAZARDOUS MATERIALS	40.00	Highest	$182,737	$35,297	$218,034
MARY KILGARRIFF	SENIOR ACCOUNTANT	40.00	Highest	$180,775	$72,878	$253,653
PAUL RAYMUND PEPITO	DIRECTOR, TECHNICAL	40.00	Highest	$175,149	$51,205	$226,354

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	$36,257,021	$22,369,471	$150,462,872	$13,887,550
2023	$24,111,629	$20,798,903	$137,303,136	$3,312,726
2022	$24,625,538	$19,729,766	$121,537,446	$4,895,772
2021	$25,246,803	$18,103,041	$143,044,465	$7,143,762
2020	$23,968,678	$17,526,625	$127,441,013	$6,442,053
2019	$22,331,789	$17,860,898	$103,348,680	$4,470,891
2018	$23,058,134	$17,661,752	$83,687,479	$5,396,382