INSTITUTE OF NAUTICAL ARCHAEOLOGY FOUNDATION

EIN: 742340987 501(c)(3)

COLLEGE STATION, TX

Total Revenue
$90,736
Total Expenses
$738,994
Total Assets
$20,344,110
Net Assets
$20,344,110
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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
TX
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.

Program Service Accomplishments

Program 1
Expenses: $600,000

SUPPORTED THE INSTITUTE OF NAUTICAL ARCHAEOLOGY IN ITS CONTINUING TASK OF LOCATING, DOCUMENTING, AND PERSERVING ANCIENT UNDERWATER ARCHAEOLOGICAL SITES AROUND THE WORLD.

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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%)

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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

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
4

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
5
$44,000
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
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
2025 No data No data No data No data
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
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