OFFSHORE MARINE SERVICE ASSOCIATION INC (EIN 237378249) - Form 990 Financial Analysis & Trantor Score

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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

1973

Legal Domicile

Principal Officer

AARON SMITH

Phone

5045289411

Tax Period

2023-01-01 to 2023-12-31

OFFSHORE MARINE SERVICE ASSOCIATION INC, founded in 1973, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $1.4M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE OFFSHORE MARINE SERVICE ASSOCIATION IS THE LEADING ASSOCIATION OF AND SPOKESMAN FOR THE OFFSHORE MARINE TRANSPORTATION SERVICE INDUSTRY. THE MISSION IS TO VIGOROUSLY DEFEND THE CABOTAGE LAWS OF THE UNITED STATES, TO PROACTIVELY FOSTER, DEVELOP, AND PROMOTE POSITIONS WHICH ARE FAVORABLE TO THE COMMON GOOD OF ITS MEMBERS WITH GOVERNMENTAL AND REGULATORY BODIES, WORLDWIDE. WE ENCOURAGE AND PROMOTE THE HIGHEST STANDARDS OF SAFETY TRAINING AND ENVIRONMENTAL PROTECTION OF ITS MEMBER COMPANIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $801,108

Program Service Revenue $390,149

Investment Income $359

Other Revenue $6,745

TOTAL REVENUE $1,198,361

Expense Breakdown

Grants Paid $0

Salaries & Benefits $575,662

Fundraising Expenses $0

Other Expenses $790,046

TOTAL EXPENSES $1,365,708

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,198,361	$912,260	+0.3%
Expenses	$1,365,708	$1,114,196	+0.2%
Net Income	$-167,347	$-201,936	-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

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

$239,462

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARRY GRAHAM	DIRECTOR	0.30	Director	$0	$0	$0
DAVID DARLING	DIRECTOR	0.30	Director	$0	$0	$0
LYNN STRAHAN	DIRECTOR	0.30	Director	$0	$0	$0
OTTO CANDIES III	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MINOR TONY CHERAMIE III	IMMEDIATE PAST CHAIRMAN	1.00	Officer Director	$0	$0	$0
TODD HORNBECK	DIRECTOR	0.30	Director	$0	$0	$0
JOHN GELLERT	DIRECTOR	0.30	Director	$0	$0	$0
BEN BORDELON	DIRECTOR	0.30	Director	$0	$0	$0
DINO CHOUEST	DIRECTOR	0.30	Director	$0	$0	$0
BLAKE MIGUEZ	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
COURTNEY RAMSAY	DIRECTOR	0.30	Director	$0	$0	$0
LEE JACKSON	DIRECTOR	0.30	Director	$0	$0	$0
ROBERT A VOSBEIN JR	DIRECTOR	0.30	Director	$0	$0	$0
CAITLIN SAUSE	DIRECTOR	0.30	Director	$0	$0	$0
KARL SENNER	DIRECTOR	0.30	Director	$0	$0	$0
GARRETT RICE	DIRECTOR	0.30	Director	$0	$0	$0
ASHTON LABORDE	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
AARON SMITH	PRESIDENT/CEO	50.00	Officer	$217,693	$21,769	$239,462

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	$1,198,361	$1,365,708	$766,600	$-167,347
2022	$912,260	$1,114,196	$673,031	$-201,936
2021	$997,837	$842,835	$1,039,948	$155,002
2020	$882,072	$1,051,227	$808,273	$-169,155
2019	$1,036,170	$992,086	$619,751	$44,084
2018	$768,535	$1,361,190	$899,138	$-592,655

OFFSHORE MARINE SERVICE ASSOCIATION INC