MARINE INDUSTRIES ASSOCIATION OF S… - Form 990 Financial Data

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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

1961

Legal Domicile

Principal Officer

PHILIP PURCELL

Phone

9545242733

Tax Period

2024-07-01 to 2025-06-30

MARINE INDUSTRIES ASSOCIATION OF SOUTH FLORIDA INC, founded in 1961, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $2.1M left a modest 12% surplus.

Mission

THE PROMOTION, EDUCATION, AND PROTECTION OF THOSE ENGAGED IN PROVIDING PRODUCTS AND SERVICES IN THE RECREATIONAL BOATING INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $221,174 Revenue: $1,816,882

SPONSOR ANNUAL FT. LAUDERDALE INTERNATIONAL BOAT SHOW AND VARIOUS OTHER PROMOTIONAL ACTIVITIES OF THE RECREATIONAL BOATING INDUSTRY.

Program 2

Expenses: $13,933 Revenue: $0

CHARITABLE CONTRIBUTIONS DURING THE FISCAL YEAR.

Program 3

Expenses: $214,270 Revenue: $0

PROFESSIONAL LOBBYING SERVICES TO PROMOTE THE INTEREST OF THE RECREATIONAL BOATING INDUSTRY.

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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 $0

Program Service Revenue $2,253,421

Investment Income $6,394

Other Revenue $125,242

TOTAL REVENUE $2,385,057

Expense Breakdown

Grants Paid $13,933

Salaries & Benefits $855,952

Fundraising Expenses $0

Program Expenses $1,632,698

Other Expenses $1,226,765

TOTAL EXPENSES $2,096,650

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,385,057	$2,185,473	+0.1%
Expenses	$2,096,650	$1,878,727	+0.1%
Net Income	$288,407	$306,746	-0.1%

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

N/A

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
JIMMIE HARRISON	PRESIDENT	2.00	Officer	$0	$0	$0
JAMES BREWER	VICE PRESIDENT	2.00	Officer	$0	$0	$0
GRAEME LORD	SECRETARY/TREASURER	2.00	Officer	$0	$0	$0
JULIE BERRY	DIRECTOR	1.00	Director	$0	$0	$0
RICH MERHIGE	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK CASHMAN	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN MONTES	DIRECTOR	1.00	Director	$0	$0	$0
KATIE HAGEN	DIRECTOR	1.00	Director	$0	$0	$0
BILL WALKER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW DOOLE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KELLY	DIRECTOR	1.00	Director	$0	$0	$0
BOB DENISON	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP PURCELL	PRESIDENT/ CEO	40.00	Key Emp Highest	$0	$0	$0
SPENCER CROWLEY	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN WASHINGTON	DIRECTOR	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
2025	$2,385,057	$2,096,650	$4,717,970	$288,407
2024	No data	No data	No data	No data
2024	$2,185,473	$1,878,727	$4,658,126	$306,746
2023	$1,958,421	$2,037,203	$4,350,401	$-78,782
2022	$1,854,404	$1,789,789	$4,620,029	$64,615
2021	$1,791,306	$1,583,217	$4,861,913	$208,089
2020	$1,822,970	$1,591,884	$4,764,843	$231,086
2019	$1,670,652	$1,640,171	$4,862,551	$30,481
2018	$2,389,195	$1,607,932	$5,300,164	$781,263

MARINE INDUSTRIES ASSOCIATION OF SOUTH FLORIDA INC