SUNY MARITIME FOUNDATION 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

2015

Legal Domicile

Principal Officer

ROXANNE THOMPSON

Phone

7184095475

Tax Period

2024-07-01 to 2025-06-30

SUNY MARITIME FOUNDATION INC, founded in 2015, is a community nonprofit in the Education sector that reported $4.2M in total revenue in fiscal year 2024. Revenue surged 51% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 39% operating margin.

Mission

THE SUNY MARITIME FOUNDATION, INC. IS THE PRIMARY ORGANIZATION TO RAISE AND MANAGE PRIVATE FINANCIAL SUPPORT FOR SUNY MARITIME COLLEGE. THIS SUPPORT ASSISTS SUNY MARITIME TO ACHIEVE ITS MISSION AND VISION WHILE AT THE SAME TIME ENRICHING THE EDUCATIONAL QUALITY OF THE COLLEGE, THE STUDENTS AND FACULTY.

Program Service Accomplishments

Program 1

Expenses: $2,222,538

GRANTMAKING PROGRAM:THE FOUNDATION SUPPORTS AND PROVIDES FINANCIAL ASSISTANCE TO SUNY MARITIME COLLEGE (THE "COLLEGE") BY SOLICITING, ACCEPTING, AND MANAGING PRIVATE FINANCIAL SUPPORT FROM...

GRANTMAKING PROGRAM:THE FOUNDATION SUPPORTS AND PROVIDES FINANCIAL ASSISTANCE TO SUNY MARITIME COLLEGE (THE "COLLEGE") BY SOLICITING, ACCEPTING, AND MANAGING PRIVATE FINANCIAL SUPPORT FROM INDIVIDUALS, CORPORATIONS, FOUNDATIONS, AND OTHER ORGANIZATIONS. SUCH FUNDING IS USED TO PROVIDE SCHOLARSHIPS AND FURTHER THE EDUCATIONAL OBJECTIVES OF THE COLLEGE.

Program 2

Expenses: $14,369 Revenue: $627,816

BOAT DONATION PROGRAM:SUNY MARITIME COLLEGE OPERATES A BOAT DONATION PROGRAM TO RAISE ADDITIONAL RESOURCES TO SUPPORT THE WATERFRONT'S PROGRAMS AND TO PROVIDE ADDITIONAL INVENTORY FOR STUDENTS TO USE FOR TRAINING AND OTHER RECREATIONAL PURPOSES. THE ASSETS CURRENTLY OVERSEEN INCLUDE: POWER BOATS, SAILING VESSELS, AND TRAILERS. IN ADDITION TO BEING A REVENUE GENERATING PROGRAM FOR THE COLLEGE/FOUNDATION, THE BOAT DONATION EXPANDS CONNECTIONS FOR THE COLLEGE AMONG THE SAILING COMMUNITY.

Program 3

ATHLETICS PROGRAM:THE OFFICE OF ATHLETICS OFFERS A WIDE ARRAY OF SPORT ACTIVITIES, FITNESS PROGRAMS, AND RECREATIONAL FACILITIES FOR THE ENTIRE CAMPUS COMMUNITY. VARSITY ATHLETICS INCLUDES 13 NCAA...

ATHLETICS PROGRAM:THE OFFICE OF ATHLETICS OFFERS A WIDE ARRAY OF SPORT ACTIVITIES, FITNESS PROGRAMS, AND RECREATIONAL FACILITIES FOR THE ENTIRE CAMPUS COMMUNITY. VARSITY ATHLETICS INCLUDES 13 NCAA DIVISION III TEAMS, MEN'S ROWING, AND CO-ED SAILING TEAMS. CLUB SPORTS INCLUDE ICE HOCKEY, RIFLE, AND RUGBY. INTRAMURAL SPORTS ARE OFFERED THROUGHOUT THE YEAR, WITH OFFERINGS BASED ON STUDENT ENGAGEMENT. THE DEPARTMENT OF PHYSICAL EDUCATION OFFERS CLASSES IN SWIMMING, YOGA, MARTIAL ARTS, AND POWERBOAT HANDING,AMONG OTHERS.

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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 $3,586,984

Program Service Revenue $0

Investment Income $635,246

Other Revenue $-8,568

TOTAL REVENUE $4,213,662

Expense Breakdown

Grants Paid $1,908,646

Salaries & Benefits $0

Fundraising Expenses $84,877

Program Expenses $2,236,907

Other Expenses $652,425

TOTAL EXPENSES $2,561,071

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,213,662	$2,798,926	+0.5%
Expenses	$2,561,071	$2,199,896	+0.2%
Net Income	$1,652,591	$599,030	+1.8%

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

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

$133,733

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUGLAS HASBROUCK	Executive Dir.	20.00	Officer	$0	$33,076	$133,733
JOHN OKON	President	1.50	Officer Director	$0	$0	$0
ROXANNE THOMPSON	Treasurer	5.00	Officer Director	$0	$0	$0
CAPT ROBERT JOHNSTON	Director	0.50	Director	$0	$0	$0
JOHN BREE	Chairman	0.50	Officer Director	$0	$0	$0
WILLIAM AUSTEN	Director	0.25	Director	$0	$0	$0
MICHAEL CHALOS	VICE CHAIR	0.25	Officer Director	$0	$0	$0
GREGORY SMITH	Director	0.25	Director	$0	$0	$0
WILLIAM GALLO	Director	0.25	Director	$0	$0	$0
IOANNIS JOHN KROUSOULOUDIS	Director	0.25	Director	$0	$0	$0
STEPHEN J CARBERY	Director	0.25	Director	$0	$0	$0
AJ MCALLISTER	Director	0.25	Director	$0	$0	$0
BRUCE ROSENBLATT	Director	0.25	Director	$0	$0	$0
JENNIFER MAHONEY	Executive Dir.	20.00	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
2025	$4,213,662	$2,561,071	$18,580,938	$1,652,591
2024	$2,798,926	$2,199,896	$16,069,582	$599,030
2023	$2,810,045	$2,180,889	$14,065,658	$629,156
2022	$3,117,030	$2,784,669	$12,907,558	$332,361
2021	$2,500,633	$2,629,956	$14,066,017	$-129,323
2020	$2,871,243	$1,801,912	$12,148,397	$1,069,331
2019	$11,481,809	$1,088,725	$11,102,812	$10,393,084