CUTWATER MARITIME EDUCATIONAL SERVICES (EIN 274332610) - 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

2010

Legal Domicile

Principal Officer

ADAM VOKAC TRUSTEE

Phone

4105479111

Tax Period

2023-01-01 to 2023-12-31

CUTWATER MARITIME EDUCATIONAL SERVICES, founded in 2010, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 50% from the prior year, signaling strong growth momentum. Expenses of $1.6M exceeded revenue, resulting in a 47% operating deficit.

Mission

TO PROVIDE MARITIME TRAINING TO MARITIME PROFESSIONALS.

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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 $0

Program Service Revenue $762,219

Investment Income $0

Other Revenue $356,017

TOTAL REVENUE $1,118,236

Expense Breakdown

Grants Paid $0

Salaries & Benefits $126,264

Fundraising Expenses $0

Program Expenses $1,556,594

Other Expenses $1,514,687

TOTAL EXPENSES $1,640,951

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,118,236	$744,445	+0.5%
Expenses	$1,640,951	$1,099,076	+0.5%
Net Income	$-522,715	$-354,631	+0.5%

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

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

$465,252

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VOKAC ADAM	DIRECTOR, PRESIDENT	2.00	Officer Director	$0	$0	$0
HANLEY EDWARD	DIRECTOR, VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
REXHA ROLAND	DIRECTOR, SECRETARY	2.00	Officer Director	$0	$0	$0
SULLIVAN JACK	DIRECTOR, TREASURER	2.00	Officer Director	$0	$0	$0
GILCHRIST ANN	EXECUTIVE DIRECTOR	3.00	Officer	$0	$38,339	$230,442
KELLY PATRICIA	EXECUTIVE DIRECTOR	3.00	Officer	$0	$58,868	$234,810

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	$1,118,236	$1,640,951	$230,774	$-522,715
2022	$744,445	$1,099,076	$207,901	$-354,631
2021	$607,766	$1,493,985	$70,538	$-886,219
2020	$325,450	$1,560,428	$64,137	$-1,234,978
2019	$602,149	$1,700,522	$116,138	$-1,098,373
2018	$970,939	$1,566,414	$201,970	$-595,475

CUTWATER MARITIME EDUCATIONAL SERVICES