Massachusetts Maritime Academy Foundation Inc

EIN: 237025807 501(c)(3) Education

Buzzards Bay, MA

Total Revenue
$11,300,957
Total Expenses
$4,247,201
Total Assets
$77,850,041
Net Assets
$77,786,343
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
MA
Principal Officer
Elizabeth Simmons
Phone
5088305099
Tax Period
2024-07-01 to 2025-06-30

Massachusetts Maritime Academy Foundation Inc, founded in 1968, is a mid-sized nonprofit in the Education sector that reported $11.3M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $7.1M, a strong 62% operating margin.

Mission

THE MASSACHUSETTS MARITIME ACADEMY FOUNDATION EXISTS TO PROMOTE THE GENERAL WELFARE, ACADEMIC POSTURE, AND QUALITY OF LIFE OF THE REGIMENT OF CADETS BY GENERATING AND MANAGING PRIVATE FUNDS TO SUPPORT THE MISSION OF THE (SEE SCHEDULE O)

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,919,207
Program Service Revenue $0
Investment Income $6,123,364
Other Revenue $258,386
TOTAL REVENUE $11,300,957

Expense Breakdown

Grants Paid $3,960,853
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,960,853
Other Expenses $286,348
TOTAL EXPENSES $4,247,201

Year-over-Year Comparison

2024 2023 Change
Revenue $11,300,957 $14,533,512 -0.2%
Expenses $4,247,201 $6,639,486 -0.4%
Net Income $7,053,756 $7,894,026 -0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
24
Independent Members
24
Employees
N/A
Volunteers
50

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
5
$267,339
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIZABETH B SIMMONS VP OF EXTERNAL AFFAIRS 1.0
Officer
$0 $79,072 $267,339
BRENDAN P O'CONNOR CHAIR 1.0
Officer Director
$0 $0 $0
WILLIAM L WALKER VICE CHAIR 1.0
Officer Director
$0 $0 $0
DAVID S SMITH TREASURER 1.0
Officer Director
$0 $0 $0
JAMES R SANISLOW SECRETARY 1.0
Officer Director
$0 $0 $0
ROBERT L DELHOME BOARD MEMBER 1.0
Director
$0 $0 $0
CAPT BRIAN J FOURNIER BOARD MEMBER 1.0
Director
$0 $0 $0
JOHN J GALLAGHER BOARD MEMBER 1.0
Director
$0 $0 $0
PENNIE HARE BOARD MEMBER 1.0
Director
$0 $0 $0
DENNIS HOUSTON BOARD MEMBER 1.0
Director
$0 $0 $0
CAPT WILLIAM C KELLEY JR BOARD MEMBER 1.0
Director
$0 $0 $0
GERHARD E KURZ BOARD MEMBER 1.0
Director
$0 $0 $0
CAPT PETER J LAWRENCE BOARD MEMBER 1.0
Director
$0 $0 $0
ALAN MCKIM BOARD MEMBER 1.0
Director
$0 $0 $0
DAVID F MIK BOARD MEMBER 1.0
Director
$0 $0 $0
LOUIS M RICCIARDI BOARD MEMBER 1.0
Director
$0 $0 $0
BRUCE S ROSENBLATT BOARD MEMBER 1.0
Director
$0 $0 $0
J PAUL SACCONE BOARD MEMBER 1.0
Director
$0 $0 $0
MICHAEL D TUSIANI BOARD MEMBER 1.0
Director
$0 $0 $0
GEOFFREY C WILKINSON BOARD MEMBER 1.0
Director
$0 $0 $0
JONATHAN D POOR BOARD MEMBER 1.0
Director
$0 $0 $0
JEFFREY F HAMEL BOARD MEMBER 1.0
Director
$0 $0 $0
CAPT MARTIN E CONROY JR BOARD MEMBER 1.0
Director
$0 $0 $0
JOHN F ISBERG BOARD MEMBER 1.0
Director
$0 $0 $0
BRIAN F TOBIN BOARD MEMBER 1.0
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 $11,300,957 $4,247,201 $77,850,041 $7,053,756
2024 $14,533,512 $6,639,486 $71,033,076 $7,894,026
2023 $12,570,673 $1,718,023 $56,074,263 $10,852,650
2022 $7,083,053 $1,459,370 $42,100,464 $5,623,683
2021 $4,842,025 $888,252 $40,250,764 $3,953,773
2020 $5,723,768 $1,289,033 $32,496,825 $4,434,735
2019 $5,166,737 $1,261,186 $27,022,685 $3,905,551
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