NAUTICUS 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

1988

Legal Domicile

Principal Officer

STEPHEN KIRKLAND

Phone

7576641014

Tax Period

2024-07-01 to 2025-06-30

NAUTICUS FOUNDATION, founded in 1988, is a community nonprofit that reported $6.0M in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.6M, a strong 26% operating margin.

Mission

WE EXIST TO BENEFIT OUR COMMUNITY THROUGH EDUCATION, IMPACTFUL EXPERIENCES AND BY SHARING ACCESS TO MARITIME RESOURCES.

Program Service Accomplishments

Program 1

Expenses: $3,714,734 Revenue: $2,708,058

NAUTICUS IS A MARITIME DISCOVERY CENTER LOCATED ALONG THE WATERFRONT IN DOWNTOWN, NORFOLK OFFERING A UNIQUE FORM OF EXPERIENTIAL LEARNING FOR ALL AGES. THROUGH INTERACTIVE EXHIBITS AND STEM TO STERN PROGRAMMING, NAUTICUS USES THE MUSEUM, BATTLESHIP WISCONSIN, SAILING CENTER, AND SCHOONER VIRGINIA TO TELL THE STORY OF THE MARITIME ENVIRONMENT, INDUSTRY, AND THE MILITARY.

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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 $3,077,248

Program Service Revenue $2,144,275

Investment Income $63,636

Other Revenue $680,170

TOTAL REVENUE $5,965,329

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,047,654

Fundraising Expenses $266,801

Program Expenses $3,714,734

Other Expenses $2,347,709

TOTAL EXPENSES $4,395,363

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,965,329	$10,876,320	-0.5%
Expenses	$4,395,363	$4,263,089	+0.0%
Net Income	$1,569,966	$6,613,231	-0.8%

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

137

Volunteers

2149

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
PAUL FRAIM	CHAIR	1.00	Officer Director	$0	$0	$0
JOHN REINHART	SECRETARY	1.00	Officer Director	$0	$0	$0
MARK HONECKER	TREASURER	1.00	Officer Director	$0	$0	$0
KELSEY HOST SARCONE	SECRETARY	1.00	Officer Director	$0	$0	$0
MARYELLEN BALDWIN	MEMBER	1.00	Director	$0	$0	$0
JUDY BARRETT	MEMBER	1.00	Director	$0	$0	$0
SARAH BEASLEY	MEMBER	1.00	Director	$0	$0	$0
WHITING CHISMAN	MEMBER	1.00	Director	$0	$0	$0
ROBERT CLARK	MEMBER	1.00	Director	$0	$0	$0
WILLIAM CROW	MEMBER	1.00	Director	$0	$0	$0
JONATHAN GALLO	MEMBER	1.00	Director	$0	$0	$0
MIKE HOPKINS	MEMBER	1.00	Director	$0	$0	$0
ELSPETH MCMAHON	MEMBER	1.00	Director	$0	$0	$0
MATT WILBRICHT	MEMBER	1.00	Director	$0	$0	$0
EDWARD WOLCOTT JR	MEMBER	1.00	Director	$0	$0	$0
W CLARK TAYLOR	MEMBER	1.00	Director	$0	$0	$0
CHRISTOPHER UITERWYK	MEMBER	1.00	Director	$0	$0	$0
STEPHEN KIRKLAND	EXECUTIVE DIRECTOR	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	$5,965,329	$4,395,363	$19,537,732	$1,569,966
2024	No data	No data	No data	No data
2023	$9,286,378	$10,167,914	$11,251,555	$-881,536
2022	$7,543,316	$2,520,357	$12,429,451	$5,022,959
2021	$4,721,947	$2,012,909	$7,090,581	$2,709,038
2020	$2,164,508	$2,500,402	$4,242,791	$-335,894
2019	$2,816,608	$2,897,492	$4,466,569	$-80,884
2018	$1,371,391	$1,867,113	$4,206,663	$-495,722