Los Angeles Maritime Institute Children's Maratime Institute

EIN: 330515416 501(c)(3) Unknown

San Pedro, CA

Total Revenue
$1,882,366
Total Expenses
$2,416,521
Total Assets
$2,589,441
Net Assets
$1,770,283
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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
CA
Principal Officer
BRUCE D HEYMAN
Phone
3108336055
Tax Period
2023-07-01 to 2024-06-30

Los Angeles Maritime Institute Children's Maratime Institute, founded in 1992, is a community nonprofit in the Unknown sector that reported $1.9M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $2.4M exceeded revenue, resulting in a 28% operating deficit.

Mission

The Los Angeles Maritime Institute serves to empower youth to discover their greater potential through extrodinary at-sea experiences aboard educational sailing vessels built to train and equip young people with

Program Service Accomplishments

Program 1
Expenses: $2,032,729 Revenue: $1,045,787

The Los Angeles Maritime Institute (LAMI) has provided youth and young adults with the opportuntity to directly benefit from hands-on learnin g experiences through our programs that use sail training...

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The Los Angeles Maritime Institute (LAMI) has provided youth and young adults with the opportuntity to directly benefit from hands-on learnin g experiences through our programs that use sail training to help them develope team building, problem-solving, decision-making, planning, self-reliance and leadership skills. The organization gives real life context to STEM subjects and raises awareness about the environmental impacts to the oceans and local waters through the TopSail Youth Progr am, TopSail STEM Program, Sea Scout Ship 1992 , summer camps, bilingua l sails, public sails and more. LAMI is proud to empower youth from under-resourced and marginalized communities thanks to the generous

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $834,439
Program Service Revenue $1,045,787
Investment Income $74
Other Revenue $2,066
TOTAL REVENUE $1,882,366

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,213,324
Fundraising Expenses $156,101
Program Expenses $2,032,729
Other Expenses $1,203,197
TOTAL EXPENSES $2,416,521

Year-over-Year Comparison

2023 2022 Change
Revenue $1,882,366 $1,605,092 +0.2%
Expenses $2,416,521 $2,111,873 +0.1%
Net Income $-534,155 $-506,781 +0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
58
Volunteers
120

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
4
$121,191
Total Directors
13
$121,191
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRUCE D HEYMAN Executive Director 50.00
Officer Director
$121,191 $0 $121,191
ERIC JOHNAON Chairman 3.000
Officer Director
$0 $0 $0
WINTER WILSON Director 3.000
Director
$0 $0 $0
TOM THOMAS Director 3.000
Director
$0 $0 $0
RICHARD MCKENNA Vice ChairTreasurer 3.000
Officer Director
$0 $0 $0
ALICE ROBINSON Director 3.000
Director
$0 $0 $0
CHRISTINE RYBAK Director 3.000
Director
$0 $0 $0
ADAM DERAGISCH Director 3.000
Director
$0 $0 $0
BYRON COUNTRYMAN Secretary 3.000
Officer Director
$0 $0 $0
WEST WILSON Director 3.000
Director
$0 $0 $0
DAVE ZELHART Director 3.000
Director
$0 $0 $0
JOE GATLIN Director 3.000
Director
$0 $0 $0
TIM SEIDEL Director 3.000
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 No data No data No data No data
2024 $1,882,366 $2,416,521 $2,589,441 $-534,155
2023 $1,605,092 $2,111,873 $3,120,462 $-506,781
2022 $1,259,448 $1,966,158 $3,405,731 $-706,710
2021 $1,475,035 $1,821,754 $3,791,628 $-346,719
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