RPM NAUTICAL FOUNDATION

EIN: 522253745 501(c)(3) Science & Technology

Key West, FL

Total Revenue
$1,800,378
Total Expenses
$1,737,072
Total Assets
$7,226,253
Net Assets
$6,589,761
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
FL
Principal Officer
MICHAEL BLADES MANAGER
Phone
8433470650
Tax Period
2024-10-01 to 2025-09-30

RPM NAUTICAL FOUNDATION, founded in 2000, is a community nonprofit in the Science & Technology sector that reported $1.8M in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $1.7M left a modest 4% surplus.

Mission

TO SUPPORT INSTITUTIONS ENGAGED IN THE SCIENTIFIC IDENTIFICATION, RECOVERY, CONSERVATION AND STUDY OF UNDERWATER ARCHAEOLOGICAL AND HISTORICAL SITES

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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 $0
Program Service Revenue $1,520,445
Investment Income $279,933
Other Revenue $0
TOTAL REVENUE $1,800,378

Expense Breakdown

Grants Paid $0
Salaries & Benefits $372,171
Fundraising Expenses $0
Program Expenses $1,737,072
Other Expenses $1,364,901
TOTAL EXPENSES $1,737,072

Year-over-Year Comparison

2024 2023 Change
Revenue $1,800,378 $2,369,268 -0.2%
Expenses $1,737,072 $2,345,272 -0.3%
Net Income $63,306 $23,996 +1.6%
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

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Governance

Voting Members
6
Independent Members
6
Employees
3
Volunteers
6

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
1
$96,100
Total Directors
1
$96,100
Key Employees
1
$96,100
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL BLADES DIRECTOR 0.00
Officer Director Key Emp
$96,100 $0 $96,100
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 $1,800,378 $1,737,072 $7,226,253 $63,306
2024 $2,369,268 $2,345,272 $7,109,005 $23,996
2023 $1,843,240 $2,129,787 $6,636,598 $-286,547
2021 $768,360 $1,063,065 $7,056,665 $-294,705
2020 $610,687 $940,251 $7,168,233 $-329,564
2019 $815,595 $1,234,414 $8,943,950 $-418,819
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