Project Liberty Ship 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

1988

Legal Domicile

Principal Officer

Hugh Cadzow

Phone

4105580646

Tax Period

2024-01-01 to 2024-12-31

Project Liberty Ship Inc, founded in 1988, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 74% from the prior year, signaling strong growth momentum. The organization ran a surplus of $398K, a strong 28% operating margin.

Mission

To educate people of all ages about the vital role of the wartime American Merchant Marine, Naval Armed Guard, and Shipbuilders, three largely unheralded groups, that were instrumental in the allied victory in World War II, as well as the sea lift for Korea and Vietnam, by presenting living history aboard the authentically restored Liberty Ship John W. Brown that is being preserved to honor the legacy of all American veterans.

Program Service Accomplishments

Program 1

Expenses: $857,069 Revenue: $69,016

Preservation of, maintenance of and sailing of the Liberty Ship SS John W. Brown, which is a museum dedicated to the men and women of American industry who built the great Liberty Ship Fleet and to the Merchant Marines and U.S. Navy Armed Guard crews who sailed and defended them during World War II.On May 26, 2021, Project Liberty Ship (PLS) and SS JOHN W. BROWN surpassed the two million volunteer hours milestone! Those hours have been accumulated since August 1988 when the ship was towed back to Baltimore, the port where she was launched, for restoration as aoperationalhistoric ship. PLS/JOHN W. BROWN is one of the very few organizations of this type that is made up solely of volunteers there has never been any paid staff.

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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 $1,066,810

Program Service Revenue $69,016

Investment Income $274,402

Other Revenue $21,332

TOTAL REVENUE $1,431,560

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $29,101

Program Expenses $857,069

Other Expenses $1,033,317

TOTAL EXPENSES $1,033,317

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,431,560	$823,468	+0.7%
Expenses	$1,033,317	$765,162	+0.4%
Net Income	$398,243	$58,306	+5.8%

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

150

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
Hugh Cadzow	Chairman	16.00	Officer Director	$0	$0	$0
Diane Jerbi	President	30.00	Officer Director	$0	$0	$0
Captain Brian Hope	Director	8.00	Director	$0	$0	$0
Kris Lindberg	Director	12.00	Director	$0	$0	$0
Stacia Miller	Treasurer	40.00	Officer Director	$0	$0	$0
Brian Roney	Director	2.00	Director	$0	$0	$0
George Cornelius	Director	10.00	Director	$0	$0	$0
Keith Elliott	Director	2.00	Director	$0	$0	$0
Dr Peter Hartsock	Director	10.00	Director	$0	$0	$0
Andrew Lapayowker	Director	2.00	Director	$0	$0	$0
John Jerbi	Director	25.00	Director	$0	$0	$0
Dick Sterne	Secretary	16.00	Officer Director	$0	$0	$0
Ed Koronowski	Director	4.00	Director	$0	$0	$0
Dave Schultze	Director	2.00	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	$1,431,560	$1,033,317	$4,148,364	$398,243
2023	$823,468	$765,162	$3,705,794	$58,306
2022	$1,695,410	$771,354	$3,347,512	$924,056
2022	$1,695,410	$771,354	$3,347,512	$924,056
2021	$686,072	$662,926	$2,748,865	$23,146
2020	$904,473	$683,359	$2,632,406	$221,114
2019	$682,300	$647,063	$2,332,161	$35,237
2018	$674,825	$758,789	$2,202,273	$-83,964