BLUE SEA PHILANTHROPY USA

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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

2015

Legal Domicile

Principal Officer

Brian Carney

Phone

8777436413

Tax Period

2023-01-01 to 2023-12-31

BLUE SEA PHILANTHROPY USA, founded in 2015, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $670K in total revenue in fiscal year 2023. Expenses of $601K left a modest 10% surplus.

Mission

Blue Sea USA operates peer-to-peer fundraising events designed to help local social services nonprofits and charities gain more capacity, raise more support, and create more impact. The charities who engage with Blue Sea's events get access to our expertise in peer-to-peer fundraising and proven custom systems. They are able to participate in our events and receive a grant. We are able to help local charities run better fundraising events, with lower overhead costs, raise more funds, and incur less risk.

Program Service Accomplishments

Program 1

Expenses: $598,369 Revenue: $669,787

In 2023, Blue Sea operated a peer-to-peer fundraising event called "Coldest Night of the Year" in 22 locations with 22 partnering 501(c)(3) charities. From this event, approximately $669,787 was...

In 2023, Blue Sea operated a peer-to-peer fundraising event called "Coldest Night of the Year" in 22 locations with 22 partnering 501(c)(3) charities. From this event, approximately $669,787 was raised by 3800 participants. Out of the funds raised, approximately $499,349 was granted to the partnering charities with the balance covering the costs of the event. The charities receiving the grants were able to support their existing programs which generally provide food, shelter, or others services to individuals and families experiencing homelessness.

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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 $669,788

Program Service Revenue $0

Investment Income $0

Other Revenue $689

TOTAL REVENUE $670,477

Expense Breakdown

Grants Paid $499,349

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $598,369

Other Expenses $101,966

TOTAL EXPENSES $601,315

Year-over-Year Comparison

	2023	2022	Change
Revenue	$670,477	N/A	N/A
Expenses	$601,315	N/A	N/A
Net Income	$69,162	$0	N/A

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

518

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
Terry Barnes	Director	2	Director	$0	$0	$0
Bruce McEvoy	Board Chair and Treasurer	2	Officer Director	$0	$0	$0
Brian Carney	President and Secretary	5	Officer	$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
2024	No data	No data	No data	No data
2023	$670,477	$601,315	$208,078	$69,162