BROOKLYN BOATWORKS 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

2009

Legal Domicile

Principal Officer

MARGARETMARY MCNICHOLAS

Phone

6463262840

Tax Period

2024-07-01 to 2025-06-30

BROOKLYN BOATWORKS INC, founded in 2009, is a small nonprofit in the Education sector that reported $927K in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $795K left a modest 14% surplus.

Mission

TO ENCOURAGE, INSPIRE AND EMPOWER YOUNG PEOPLE THROUGH THE UNIQUE CRAFT OF WOODEN BOATBUILDING AND ON-THE-WATER EXPERIENCES.

Program Service Accomplishments

Program 1

Expenses: $565,957 Revenue: $286,787

BROOKLYN BOATWORKS WORKED WITH 328 YOUTH SPANNING 5TH TO 11TH GRADES. THE ORGANIZATION OVERSAW 14 BOAT BUILDS ACROSS SEVEN DIFFERENT SCHOOLS IN NEW YORK CITY. WITHIN EACH CLASS, STUDENTS COLLABORATED ON CRAFTING A 7'6" OPTIMIST PRAM SAILBOAT, USING WOODEN MATERIALS AND BASIC HAND TOOLS. STUDENTS LEARNED BASIC CONSTRUCTION AND TOOL SKILLS, APPLIED MEASUREMENT AND ESTIMATION, LOCAL WATERWAY GEOGRAPHY, NAUTICAL CHART READING, BUOYANCY, AND THE PHYSICS OF SAILING. BROOKLYN BOATWORKS EMPHASIZES COOPERATION, PERSEVERANCE, CRAFTSMANSHIP, AND EXPERIENTIAL LEARNING. TO CULMINATE THE SCHOOL YEAR, STUDENTS CELEBRATED THEIR ACHIEVEMENTS THROUGH AN IMPRESSIVE BOAT LAUNCH AND REGATTA. ADDITIONALLY, THE YOUTH WERE ACTIVELY INVOLVED IN VARIOUS ACTIVITIES, FIELD TRIPS, AND A SAILING CAMP. THROUGHOUT ALL OF BROOKLYN BOATWORKS'S ENDEAVORS, THE FOCUS REMAINED ON PROMOTING STEM AND MARITIME-CENTERED EDUCATION, HANDS-ON LEARNING, AND NURTURING HEALTHY SOCIAL-EMOTIONAL DEVELOPMENT.

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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 $537,669

Program Service Revenue $286,787

Investment Income $8

Other Revenue $102,994

TOTAL REVENUE $927,458

Expense Breakdown

Grants Paid $0

Salaries & Benefits $595,932

Fundraising Expenses $142,762

Program Expenses $565,957

Other Expenses $187,763

TOTAL EXPENSES $795,383

Year-over-Year Comparison

	2024	2023	Change
Revenue	$927,458	$720,171	+0.3%
Expenses	$795,383	$779,283	+0.0%
Net Income	$132,075	$-59,112	-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

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

$167,442

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN YOUNG	CHAIRMAN	1.00	Officer Director	$0	$0	$0
NAVIN JHAMNA	TREASURER	1.00	Officer Director	$0	$0	$0
JENNIFER POTTER	SECRETARY	1.00	Officer Director	$0	$0	$0
PETER GUY	DIRECTOR	1.00	Director	$0	$0	$0
STEPHAN FORSTMANN	DIRECTOR	1.00	Director	$0	$0	$0
ABIGAIL VAN STRAATEN	DIRECTOR	1.00	Director	$0	$0	$0
GLEN MIDDLETON	DIRECTOR	1.00	Director	$0	$0	$0
JOYCE GOODMAN	DIRECTOR	1.00	Director	$0	$0	$0
JEREMY WURMFELD	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE KAMINSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
RAPHAEL DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
CARL PERSAK III	DIRECTOR	1.00	Director	$0	$0	$0
MALKIE SCHWARTZ	DIRECTOR	1.00	Director	$0	$0	$0
MARIA FRANCISCA MAYOBRE	DIRECTOR	1.00	Director	$0	$0	$0
JOYCE GOODMAN	DIRECTOR	1.00	Director	$0	$0	$0
MARGARETMARY MCNICHOLAS	EXECUTIVE DIRECTOR	40.00	Officer	$158,942	$8,500	$167,442

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	$927,458	$795,383	$553,967	$132,075
2024	No data	No data	No data	No data
2023	$896,051	$813,181	$433,312	$82,870
2022	$627,896	$654,225	$344,339	$-26,329
2021	$619,239	$486,169	$423,793	$133,070
2020	$536,076	$504,545	$265,860	$31,531
2019	$520,459	$475,823	$175,145	$44,636
2018	$356,822	$353,045	$125,048	$3,777