WEST GULF MARITIME ASSOCIATION

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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

1968

Legal Domicile

Principal Officer

SHAREEN LARMOND

Phone

7136787655

Tax Period

2024-01-01 to 2024-12-31

WEST GULF MARITIME ASSOCIATION, founded in 1968, is a mid-sized nonprofit that reported $17.2M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $15.8M left a modest 8% surplus.

Mission

TO REPRESENT MEMBERS IN MARITIME AFFAIRS, LABOR RELATIONS INCLUDING CONTRACT ADMINISTRATION, CENTRAL PAYROLL SERVICES, SAFETY, HEALTH AND TRAINING ISSUES.

Program Service Accomplishments

Program 1

MARITIME AFFAIRSTHROUGH ITS MARITIME AFFAIRS DEPARTMENT, THE WEST GULF MARITIME ASSOCIATION PROVIDES A FORUM FOR DISCUSSIONS AND EXCHANGES OF INFORMATION BETWEEN MEMBER COMPANIES PERTAINING TO A WIDE VARIETY OF INDUSTRY CHALLENGES. THE WEST GULF MARITIME ASSOCIATION PROVIDES A DAILY INDUSTRY UPDATE REPORT USEFUL IN PROVIDING OUR MEMBERS WITH EVENTS AND FORUMS IMPACTING NAVIGATIONAL, ENVIRONMENTAL, AND SAFETY CONCERNS.

Program 2

LABOR RELATIONSACTING THROUGH COMMITTEES APPOINTED FROM THE MEMBERSHIP, THE WEST GULF MARITIME ASSOCIATION NEGOTIATES AND ADMINISTERS VARIOUS MULTIEMPLOYER COLLECTIVE BARGAINING AGREEMENTS WITH THE INTERNATIONAL LONGSHOREMEN'S ASSOCIATION IN WEST GULF PORTS. THE WEST GULF MARITIME ASSOCIATION PROCESSES GRIEVANCES FOR STEVEDORES OPERATING UNDER THE COLLECTIVE BARGAINING AGREEMENTS. IN ADDITION, THE WEST GULF MARITIME ASSOCIATION COORDINATES THE TRAINING OF THE LONGSHORE WORKERS PROMOTING A SAFE AND EFFICIENT WORKING ENVIRONMENT

Program 3

PAYROLL SERVICESTHE WEST GULF MARITIME ASSOCIATION PROVIDES PAYROLL AND PAYROLL SUPPORT SERVICES FOR STEVEDORES OPERATING UNDER THE COLLECTIVE BARGAINING AGREEMENTS.

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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 $16,842,126

Investment Income $326,945

Other Revenue $0

TOTAL REVENUE $17,169,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,512,017

Fundraising Expenses $0

Other Expenses $12,272,200

TOTAL EXPENSES $15,784,217

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,169,071	$14,549,314	+0.2%
Expenses	$15,784,217	$13,052,901	+0.2%
Net Income	$1,384,854	$1,496,413	-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

$1,099,924

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID ECKLES	VICE CHAIRMAN	2.00	Director	$0	$0	$0
KELBY CUEVAS	DIRECTOR	2.00	Director	$0	$0	$0
NICO SCHAEFER	DIRECTOR	2.00	Director	$0	$0	$0
STEVE NIXON	DIRECTOR	2.00	Director	$0	$0	$0
JORGE NUNEZ	DIRECTOR	2.00	Director	$0	$0	$0
J DAVID MORGAN	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT KRANTZCKE	DIRECTOR	2.00	Director	$0	$0	$0
CAPT ARIP ISMAIL	DIRECTOR	2.00	Director	$0	$0	$0
ADAM BROOKS	DIRECTOR	2.00	Director	$0	$0	$0
DAVID MILLER	DIRECTOR	2.00	Director	$0	$0	$0
TAD COLLIER	DIRECTOR	2.00	Director	$0	$0	$0
KURT MITTENZWEI	DIRECTOR	2.00	Director	$0	$0	$0
SHANE TAYLOR	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS GRIFFITH	DIRECTOR	2.00	Director	$0	$0	$0
DON JOHNSON	CHAIRMAN	2.00	Director	$0	$0	$0
ROBERT HAWN	VICE PRESIDENT, MARITIME A	40.00	Officer	$150,557	$0	$150,557
NICHOLAS JUMONVILLE	VICE PRESIDENT, LABOR RELA	40.00	Officer	$210,047	$0	$210,047
BILL WOOD	VICE PRESIDENT ACCOUNTING	40.00	Officer	$200,763	$0	$200,763
CHELSEA WAUSON	SENIOR VICE PRESIDENT, LAB	40.00	Officer	$219,820	$0	$219,820
SHAREEN LARMOND	PRESIDENT	40.00	Officer	$318,737	$0	$318,737

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	$17,169,071	$15,784,217	$31,484,897	$1,384,854
2023	$14,549,314	$13,052,901	$16,115,741	$1,496,413
2022	$13,397,226	$11,499,078	$12,376,910	$1,898,148
2021	$10,778,910	$10,631,074	$11,105,022	$147,836
2020	$7,353,440	$6,910,375	$9,696,189	$443,065
2019	$8,185,098	$7,352,775	$8,448,062	$832,323
2018	$8,350,812	$7,714,735	$7,723,251	$636,077