KALMAR NYCKEL FOUNDATION

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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

1958

Legal Domicile

Principal Officer

CHRISTOPHER BROOKS

Phone

3024297447

Tax Period

2023-11-01 to 2024-10-31

KALMAR NYCKEL FOUNDATION, founded in 1958, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. Net assets of $5.3M represent 32 months of operating reserves.

Mission

THE KALMAR NYCKEL FOUNDATION (KNF) IS A VOLUNTEER-BASED EDUCATIONAL ORGANIZATION WITH A MISSION "TO PRESERVE AND PROMOTE THE CULTURAL AND MARITIME HERITAGE OF DELAWARE AND THE DELAWARE VALLEY FOR THE EDUCATION AND ENRICHMENT OF ALL."

Program Service Accomplishments

Program 1

Expenses: $569,015 Revenue: $318,933

OUR MODERN-DAY KALMAR NYCKEL THE OFFICIAL TALL SHIP OF DELAWARE HAS BECOME ONE OF THE REGION'S GREAT EDUCATIONAL RESOURCES. AS A FULL-SCALE AND FAITHFUL REPRODUCTION OF THE SQUARE-RIGGED SHIP THAT...

OUR MODERN-DAY KALMAR NYCKEL THE OFFICIAL TALL SHIP OF DELAWARE HAS BECOME ONE OF THE REGION'S GREAT EDUCATIONAL RESOURCES. AS A FULL-SCALE AND FAITHFUL REPRODUCTION OF THE SQUARE-RIGGED SHIP THAT FOUNDED THE COLONY OF NEW SWEDEN IN 1638, THE PRESENT-DAY KALMAR NYCKEL SERVES AS A FLOATING CLASSROOM AND INSPIRATIONAL PLATFORM FOR KNF'S AWARD-WINNING EDUCATIONAL PROGRAMS. KALMAR NYCKEL VOYAGES OVER 3,000 NAUTICAL MILES EACH YEAR, SAILING FROM APRIL TO NOVEMBER, AND OUR SHIP AND SHORE PROGRAMS REACH MORE THAN 30,000 PEOPLE DURING A TYPICAL YEAR.

Program 2

Expenses: $847,252 Revenue: $67,635

WITH OUR COPELAND MARITIME CENTER AND REVITALIZED SHIPYARD CAMPUS, WE HAVE BECOME A YEAR-ROUND DESTINATION FOR BOTH INTERNATIONAL AND DOMESTIC VISITORS, STUDENTS, FAMILIES, AND 250 ACTIVE VOLUNTEERS. IN TYPICAL YEARS, OUR FIELD TRIP PROGRAMS, CLASSROOM PROGRAMS, AND SPECIAL EDUCATIONAL COMMUNITY EVENTS REACH OVER 15,000 STUDENTS A YEAR. ANOTHER 15,000 PEOPLE OF ALL AGES VISIT OUR SHIP FOR SAILING ADVENTURES AND DOCKSIDE TOURS.

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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 $1,215,078

Program Service Revenue $333,830

Investment Income $21,658

Other Revenue $405,984

TOTAL REVENUE $1,976,550

Expense Breakdown

Grants Paid $0

Salaries & Benefits $898,861

Fundraising Expenses $197,700

Program Expenses $1,416,267

Other Expenses $1,101,487

TOTAL EXPENSES $2,000,348

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,976,550	$1,533,084	+0.3%
Expenses	$2,000,348	$1,791,564	+0.1%
Net Income	$-23,798	$-258,480	-0.9%

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

Volunteers

223

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
TINA BETZ	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER BROOKS	TREASURER	2.00	Officer Director	$0	$0	$0
JOSEPH BUTERA	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS COLLINS	TRUSTEE	1.00	Director	$0	$0	$0
VERNITA DORSEY	TRUSTEE	1.00	Director	$0	$0	$0
AKE FAGELBERG	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT FRIZ	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT VA HARRA JR	CHAIRMAN	2.00	Officer Director	$0	$0	$0
KYLE HILL	TRUSTEE	1.00	Director	$0	$0	$0
FRED HOCKER	TRUSTEE	1.00	Director	$0	$0	$0
MARIA IVERSEN	TRUSTEE	1.00	Director	$0	$0	$0
MELISSA KENNY	PRESIDENT	2.00	Officer Director	$0	$0	$0
ADAM KNOX	TRUSTEE	1.00	Director	$0	$0	$0
GARY C LINARDUCCI	TRUSTEE	1.00	Director	$0	$0	$0
WENDY MASSEY	TRUSTEE	1.00	Director	$0	$0	$0
MEGAN MCGLINCHEY	TRUSTEE	1.00	Director	$0	$0	$0
CAROLINE MCILVAIN	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE MELDRUM	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTINE MORITZ	SECRETARY	2.00	Officer Director	$0	$0	$0
KIMBERLY PADLEY	TRUSTEE	1.00	Director	$0	$0	$0
JAMAI ROBINSON	TRUSTEE	1.00	Director	$0	$0	$0
NANCY SCHRAGGER	TRUSTEE	1.00	Director	$0	$0	$0
KAMELA SMITH	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
NIGEL VEATER	TRUSTEE	1.00	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
2024	$1,976,550	$2,000,348	$9,137,070	$-23,798
2023	$1,533,084	$1,791,564	$9,034,015	$-258,480
2022	$1,416,148	$1,826,480	$9,078,536	$-410,332
2021	$1,406,685	$1,583,494	$9,489,690	$-176,809
2020	$1,422,322	$1,601,290	$9,727,029	$-178,968
2019	$1,246,247	$1,621,459	$9,739,551	$-375,212
2018	$1,300,242	$1,519,541	$10,204,509	$-219,299