INSTITUTE OF NAUTICAL ARCHAEOLOGY FOUNDATION (EIN 742340987) - Form 990 Financial Analysis & Trantor Score

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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

1985

Legal Domicile

Principal Officer

EDWARD O BOSHELL JR

Phone

9798456694

Tax Period

2023-09-01 to 2024-08-31

INSTITUTE OF NAUTICAL ARCHAEOLOGY FOUNDATION, founded in 1985, is a micro nonprofit that reported $91K in total revenue in fiscal year 2023. Revenue fell 89% from the prior year — a significant decline worth monitoring. Expenses of $739K exceeded revenue, resulting in a 714% operating deficit.

Mission

TO SUPPORT THE ADVANCEMENT OF NAUTICAL ARCHAEOLOGY CONDUCTED BY THE INSTITUTE OF NAUTICAL ARCHAEOLOGY.

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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 $0

Program Service Revenue $0

Investment Income $76,868

Other Revenue $13,868

TOTAL REVENUE $90,736

Expense Breakdown

Grants Paid $600,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $600,000

Other Expenses $138,994

TOTAL EXPENSES $738,994

Year-over-Year Comparison

	2023	2022	Change
Revenue	$90,736	$850,609	-0.9%
Expenses	$738,994	$632,675	+0.2%
Net Income	$-648,258	$217,934	-4.0%

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

N/A

Volunteers

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

$44,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ROBERT L WALKER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN DE LAPA	DIRECTOR, CHAIRMAN OF INA	1.00	Officer Director	$0	$0	$0
EDWARD BOSHELL JR	CHAIRMAN	5.00	Officer Director	$0	$0	$0
DANA MCGINNIS	TREASURER	5.00	Officer Director	$0	$0	$0
DEBORAH CARLSON	PRESIDENT OF INA	5.00	Officer	$0	$0	$44,000
RUSSELL SHAW	GENERAL COUNSEL	5.00	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
2024	$90,736	$738,994	$20,344,110	$-648,258
2023	$850,609	$632,675	$19,531,448	$217,934
2022	$2,839,666	$980,211	$19,791,996	$1,859,455
2021	$623,136	$351,009	$20,198,652	$272,127
2020	$823,870	$839,055	$16,336,799	$-15,185
2019	$1,652,269	$859,978	$18,558,885	$792,291
2018	$2,999,254	$759,174	$22,764,973	$2,240,080

INSTITUTE OF NAUTICAL ARCHAEOLOGY FOUNDATION