SEAFARERS MARYLAND BUILDING CORP

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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

1981

Legal Domicile

Principal Officer

MARGARET BOWEN

Phone

3018990675

Tax Period

2024-01-01 to 2024-12-31

SEAFARERS MARYLAND BUILDING CORP, founded in 1981, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. Expenses of $3.2M exceeded revenue, resulting in a 23% operating deficit.

Mission

TO HOLD TITLE TO AND OPERATE PROPERTY ON BEHALF OF THE SEAFARERS PENSION PLAN, THE TAX EXEMPT PARENT ORGANIZATION.

Program Service Accomplishments

Program 1

LESSOR: HELD TITLE TO PROPERTY, COLLECTING INCOME THERE FROM, AND TURNING OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO THE SEAFARERS PENSION PLAN, THE TAX EXEMPT PARENT ORGANIZATION.

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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 $2,462,267

Investment Income $11,327

Other Revenue $102,012

TOTAL REVENUE $2,575,606

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,222,395

Fundraising Expenses $0

Other Expenses $1,939,441

TOTAL EXPENSES $3,161,836

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,575,606	$2,463,431	+0.0%
Expenses	$3,161,836	$2,724,103	+0.2%
Net Income	$-586,230	$-260,672	+1.2%

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

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 NACCARATO	PRESIDENT	1.00	Officer	$0	$0	$0
THOMAS ORZECHOWSKI	SECRETARY/TREASURER	1.00	Officer	$0	$0	$0
MARGARET BOWEN	VICE PRESIDENT	1.00	Officer	$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	$2,575,606	$3,161,836	$5,872,296	$-586,230
2023	$2,463,431	$2,724,103	$4,778,265	$-260,672
2022	$2,439,792	$2,485,524	$4,510,346	$-45,732
2021	$2,438,208	$2,614,196	$3,201,198	$-175,988
2020	$2,426,695	$2,557,906	$3,360,901	$-131,211
2019	$2,366,888	$2,430,181	$3,529,435	$-63,293
2018	$2,307,906	$2,471,851	$3,603,126	$-163,945