ASSOCIATION OF SEA GRANT PROGRAM I… - Form 990 Financial Data

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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

1971

Legal Domicile

Principal Officer

DARREN LERNER

Phone

8089565749

Tax Period

2024-01-01 to 2024-12-31

ASSOCIATION OF SEA GRANT PROGRAM INSTITUTIONS, founded in 1971, is a small nonprofit that reported $293K in total revenue in fiscal year 2024. Expenses of $356K exceeded revenue, resulting in a 21% operating deficit.

Mission

FURTHER THE UNDERSTANDING, USE AND CONSERVATION OF MARINE AND COASTAL RESOURCES AND ENCOURAGE INCREASED ACCOMPLISHMENTS AND INITIATIVES IN RELATED AREAS; INCREASE EFFECTIVENESS OF MEMBER INSTITUTIONS IN THEIR WORK ON MARINE AND COASTAL RESOURCE AND ENVIRONMENTAL ISSUES; ENHANCE MUTUAL CAPABILITIES AND STIMULATE COOPERATION AND UNITY OF EFFORT AMONG MEMBERS; PROVIDE A FORUM FOR DISCUSSING PROGRAMMATIC ISSUES AND FACILITATING COMMUNICATION AMONG MEMBERS, AGENCIES, INDUSTRY, AND OTHER INTERESTED PARTIES.

Program Service Accomplishments

Program 1

Expenses: $338,107 Revenue: $278,707

THE ORGANIZATION PROVIDES THE MECHANISM TO ITS DUES PAYING MEMBERS TO COORDINATE THEIR ACTIVITIES, SET PROGRAM PRIORITIES AT BOTH THE REGIONAL AND NATIONAL LEVEL, AND PROVIDE A UNIFIED VOICE ON...

THE ORGANIZATION PROVIDES THE MECHANISM TO ITS DUES PAYING MEMBERS TO COORDINATE THEIR ACTIVITIES, SET PROGRAM PRIORITIES AT BOTH THE REGIONAL AND NATIONAL LEVEL, AND PROVIDE A UNIFIED VOICE ON ISSUES OF IMPORTANCE TO THE OCEANS AND COASTS WITH THE GOAL OF FURTHERING THE UNDERSTANDING, DEVELOPMENT, UTILIZATION, AND CONSERVATION OF OCEAN AND COASTAL RESOURCES.

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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 $278,707

Investment Income $14,500

Other Revenue $0

TOTAL REVENUE $293,207

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $338,107

Other Expenses $356,221

TOTAL EXPENSES $356,221

Year-over-Year Comparison

	2024	2023	Change
Revenue	$293,207	$281,342	+0.0%
Expenses	$356,221	$356,471	0.0%
Net Income	$-63,014	$-75,129	-0.2%

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

N/A

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
ERIK CHAPMAN	PRESIDENT	4.00	Officer Director	$0	$0	$0
STEPHANIE SHOWALTER OTTS	PRESIDENT-ELECT	3.00	Officer Director	$0	$0	$0
DARREN LERNER	PAST PRESIDENT	2.00	Director	$0	$0	$0
CHRISTOPHER WINSLOW	SECRETARY	2.00	Officer Director	$0	$0	$0
SHERRY LARKIN	TREASURER	2.00	Officer Director	$0	$0	$0
SARAH WHITLEY	BOARD MEMBER	2.00	Director	$0	$0	$0
JULIE LIVELY	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN DOWNING	SGA PARLIAMENTARIAN	2.00	Director	$0	$0	$0
KATRINA HOOKS	BOARD MEMBER	2.00	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
2024	$293,207	$356,221	$585,068	$-63,014
2023	$281,342	$356,471	$611,868	$-75,129
2022	$211,579	$272,491	$675,256	$-60,912
2021	$273,912	$151,527	$785,159	$122,385
2020	$353,743	$221,466	$630,661	$132,277
2019	$270,416	$263,033	$464,855	$7,383
2018	$238,232	$227,359	$420,262	$10,873

ASSOCIATION OF SEA GRANT PROGRAM INSTITUTIONS