ST MARYS COLLEGE OF MARYLAND BOAT FOUNDATION INC

EIN: 522237977 501(c)(3) Recreation & Sports

St Marys City, MD

Total Revenue
$128,647
Total Expenses
$219,685
Total Assets
$837,822
Net Assets
$837,782
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
MD
Principal Officer
Karen Raley
Phone
2408953123
Tax Period
2024-07-01 to 2025-06-30

ST MARYS COLLEGE OF MARYLAND BOAT FOUNDATION INC, founded in 2001, is a small nonprofit in the Recreation & Sports sector that reported $129K in total revenue in fiscal year 2024. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $220K exceeded revenue, resulting in a 71% operating deficit.

Mission

The mission of St Mary's College of Maryland Boat Foundation is to support the boating and sailing program of St. Mary's College of Maryland, and to provide the resources to further education and training on the water.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $134,447
Program Service Revenue $0
Investment Income $0
Other Revenue $-5,800
TOTAL REVENUE $128,647

Expense Breakdown

Grants Paid $65,534
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $209,753
Other Expenses $154,151
TOTAL EXPENSES $219,685

Year-over-Year Comparison

2024 2023 Change
Revenue $128,647 $588,250 -0.8%
Expenses $219,685 $186,514 +0.2%
Net Income $-91,038 $401,736 -1.2%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
6
Employees
N/A
Volunteers
8

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
3
$0
Total Directors
8
$0
Key Employees
1
$284,601
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Carolyn Curry Executive Director 0.5
Key Emp
$0 $29,664 $284,601
Robert Waldschmitt President 0.5
Officer Director
$0 $0 $0
Barry Friedman Treasurer 0.5
Officer Director
$0 $0 $0
William Ward Secretary 0.5
Officer Director
$0 $0 $0
Donald Behrens Director 0.5
Director
$0 $0 $0
Clarke McKinney Director 0.5
Director
$0 $0 $0
Susan Meredith Director 0.5
Director
$0 $0 $0
Jim Sharkey Director 0.5
Director
$0 $0 $0
Adam Werblow Director 0.5
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 $128,647 $219,685 $837,822 $-91,038
2024 $588,250 $186,514 $999,781 $401,736
2023 $-73,945 $226,297 $600,598 $-300,242
2022 $-29,050 $227,388 $900,575 $-256,438
2021 $343,376 $319,386 $1,696,085 $23,990
2020 $80,000 $346,054 $1,643,273 $-266,054
2019 $1,346,905 $294,424 $1,909,077 $1,052,481
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