Andrew Furuseth School of Seamanship (EIN 300162507) - 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

2003

Legal Domicile

Principal Officer

Matthew Henning

Phone

4157644990

Tax Period

2024-08-01 to 2025-07-31

Andrew Furuseth School of Seamanship, founded in 2003, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $1.0M left a modest 3% surplus.

Mission

To train and educate seamen and apprentices in all phases of the seamanship industry.

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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 $1,027,478

Investment Income $25,335

Other Revenue $0

TOTAL REVENUE $1,052,813

Expense Breakdown

Grants Paid $0

Salaries & Benefits $157,577

Fundraising Expenses $0

Other Expenses $421,868

TOTAL EXPENSES $1,018,575

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,052,813	$1,118,611	-0.1%
Expenses	$1,018,575	$1,001,559	+0.0%
Net Income	$34,238	$117,052	-0.7%

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

N/A

Employees

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
DAVE CONNOLLY	TRUSTEE (TERM)	0.5	Director	$0	$0	$0
MATTHEW HENNING	TRUSTEE	0.5	Director	$0	$0	$0
MICHAEL LABONTE	TRUSTEE (TERM)	0.5	Director	$0	$0	$0
DANNY DEFANTI	TRUSTEE	0.5	Director	$0	$0	$0
JOE CURTIS	TRUSTEE	0.5	Director	$0	$0	$0
SAM WORTH	TRUSTEE	0.5	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	$1,052,813	$1,018,575	$1,902,924	$34,238
2024	$1,118,611	$1,001,559	$1,881,347	$117,052
2023	$1,094,751	$827,693	$1,722,595	$267,058
2022	$1,066,083	$759,941	$1,443,003	$306,142
2021	$1,031,141	$789,672	$1,147,745	$241,469
2020	$1,007,119	$814,460	$930,459	$192,659
2019	$724,248	$876,910	$701,066	$-152,662
2018	$1,113,013	$895,850	$852,334	$217,163

Andrew Furuseth School of Seamanship