Marine Spill Response Corporation

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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

1990

Legal Domicile

Principal Officer

JOHN SWIFT

Phone

7033265600

Tax Period

2023-01-01 to 2023-12-31

Marine Spill Response Corporation, founded in 1990, is a major nonprofit that reported $110.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

MSRC'S PURPOSE IS TO PROMOTE THE WELFARE OF THE PUBLIC BY MITIGATING ENVIRONMENTAL DAMAGE TO THE WATERS OF THE U.S. OR OTHER WATERS FOR WHICH THE BOARD OF DIRECTORS AUTHORIZES A RESPONSE BY THE CORPORATION.THE NUMBER OF PERSONS BENEFITTED IS NOT DETERMINABLE AS THE FUNCTION IS TO BENEFIT THE GENERAL PUBLIC, NOT A SPECIFIC GROUP.

Program Service Accomplishments

Program 1

Expenses: $111,818,139 Revenue: $13,450,296

MSRC HAS ESTABLISHED A PROGRAM TO RENDER ITS BEST EFFORTS TO CONTAIN, CLEANUP OR OTHERWISE MITIGATE A DISCHARGE OR TO MITIGATE A THREAT OF A DISCHARGE OF OIL OR OTHER SUBSTANCES. THIS IS ACCOMPLISHED THROUGH UTILIZATION OF PERSONNEL AND EQUIPMENT OF THE CORPORATION AND VARIOUS CONTRACTORS. MSRC DEVELOPS AND MAINTAINS INFORMATION REGARDING OIL DISCHARGE RESPONSE RESOURCES AND RELATED INFORMATION. MSRC CONDUCTS TRAINING, DRILLS, AND EXERCISES IN ORDER TO REVIEW OIL DISCHARGE CAPABILITIES AND FACILITATE RESPONSE RELATED READINESS. IN 1999, AND IN ACCORDANCE WITH AN IRS RULING, MSRC EXPANDED ITS PURPOSE TO ALSO INCLUDE MAKING ITS COMMUNICATIONS EQUIPMENT AND OTHER RESOURCES AVAILABLE FOR USE IN RESPONSE TO OTHER NATURAL OR MANMADE DISASTERS, SUCH AS HURRICANES, FLOODS, OR FIRES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $97,667,554

Program Service Revenue $13,450,296

Investment Income $-1,276,675

Other Revenue $785,774

TOTAL REVENUE $110,626,949

Expense Breakdown

Grants Paid $0

Salaries & Benefits $49,742,320

Fundraising Expenses $0

Program Expenses $111,818,139

Other Expenses $62,075,819

TOTAL EXPENSES $111,818,139

Year-over-Year Comparison

	2023	2022	Change
Revenue	$110,626,949	$101,884,381	+0.1%
Expenses	$111,818,139	$105,500,244	+0.1%
Net Income	$-1,191,190	$-3,615,863	-0.7%

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

534

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

$3,630,863

Total Directors

$1,553,185

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRETT DREWRY	DIRECTOR	2.0	Director	$0	$82,876	$510,274
JOHN SWIFT	PRESIDENT	40.0	Officer Director	$409,395	$69,981	$479,376
JOE BOWLES	VP	40.0	Officer	$420,222	$48,377	$468,599
MIKE WALKER	VP	40.0	Officer	$358,692	$62,532	$421,224
CARMINE DULISSE	FORMER PRESIDENT	6.5	Officer Director	$400,369	$5,316	$405,685
CHRISTINE MURPHY	VP-CFO/TREASURER	40.0	Officer	$344,435	$56,017	$400,452
KEVIN HOSKINS	VP, TELECOM & IS	40.0	Highest	$272,834	$57,749	$330,583
TIM ARCHER	VP	40.0	Highest	$265,493	$47,943	$313,436
GINA PACE	VP GENERAL COUNSEL/SECRETARY	40.0	Officer	$262,042	$42,202	$304,244
KIM BABIN	ASSISTANT TREASURER	40.0	Officer	$238,424	$49,789	$288,213
MIKE SAMPLE	FORMER VP-GENERAL COUNSEL	13.4	Officer	$259,843	$14,391	$274,234
WILLIAM STAFFORD	VP	40.0	Officer	$237,893	$30,017	$267,910
RICH D'ALLASANDRO	VP	40.0	Officer	$201,747	$61,429	$263,176
MARY AHEARN	DIRECTOR-HR	40.0	Highest	$208,227	$49,977	$258,204
JOE JOSEPH	CHIEF ENGINEER	61.88	Highest	$207,497	$39,310	$246,807
CHRIS MUZZY	DIRECTOR-HEALTH SAFETY	40.0	Highest	$190,536	$32,305	$222,841
ERIC HAUGSTAD	CHAIRMAN/DIRECTOR	2.0	Officer Director	$57,750	$0	$57,750
KELLY KEITH	DIRECTOR	2.0	Director	$53,900	$0	$53,900
PAUL GUGG	DIRECTOR	2.0	Director	$46,200	$0	$46,200

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	No data	No data	No data	No data
2023	$110,626,949	$111,818,139	$171,467,087	$-1,191,190
2022	$101,884,381	$105,500,244	$179,406,381	$-3,615,863
2021	$103,175,694	$108,776,405	$111,452,379	$-5,600,711
2020	$92,523,865	$94,878,666	$118,329,796	$-2,354,801
2019	$93,235,947	$100,287,204	$118,708,556	$-7,051,257
2018	$105,354,426	$105,669,085	$127,451,170	$-314,659