AMERICAN SALVAGE ASSOCIATION INC

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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

2000

Legal Domicile

Principal Officer

LEE HILL

Phone

7033732267

Tax Period

2024-01-01 to 2024-12-31

AMERICAN SALVAGE ASSOCIATION INC, founded in 2000, is a small nonprofit in the Public & Societal Benefit sector that reported $202K in total revenue in fiscal year 2024. Expenses of $237K exceeded revenue, resulting in a 17% operating deficit.

Mission

TO SERVE THE NEEDS OF OWNERS, OPERATORS, AND SUPPLIERS OF THE SALVAGE INDUSTRY BY OFFERING TRAINING AND FACILITIES TO POSITIVELY IMPACT RELATIONSHIPS WITH THE MARINE INDUSTRY.

Program Service Accomplishments

Program 1

PUBLISHING A QUARTERLY NEWSLETTER TO COMMUNICATE AND PROMOTE STANDARDS OF CONDUCT AND PERFORMANCE THAT PROVIDE THE NATION WITH AN ADEQUATE SALVAGE RESPONSE.

Program 2

ASSOCIATION ANNUAL MEETING AND CONFERENCE-EDUCATE THE GENERAL PUBLIC ON THE ROLE OF THE MARINE SALVOR IN PROTECTING LIFE, THE ENVIRONMENT AMD PROPERTY.

Program 3

PROMOTE TRAINING AND INFORMATION EXCHANGE WITH FEDERAL REGULATORY AGENCIES AND OTHER NATIONAL TRADE ASSOCIATIONS.

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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 $196,275

Investment Income $16

Other Revenue $5,606

TOTAL REVENUE $201,897

Expense Breakdown

Grants Paid $0

Salaries & Benefits $99,913

Fundraising Expenses $0

Other Expenses $137,108

TOTAL EXPENSES $237,021

Year-over-Year Comparison

	2024	2023	Change
Revenue	$201,897	$205,849	0.0%
Expenses	$237,021	$202,321	+0.2%
Net Income	$-35,124	$3,528	-11.0%

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

$47,645

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE FARRELL III	PRESIDENT	2.00	Officer Director	$0	$0	$0
ELIAS PSYLLOS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
TIMMY COUVILLION	SECRETARY TREASURER	2.00	Officer Director	$0	$0	$0
MIKE JARVIS	IMMEDIATE PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
JIM ELLIOTT	DIRECTOR	2.00	Director	$0	$0	$0
NADJA KNOULTON	DIRECTOR	2.00	Director	$0	$0	$0
LINDSAY MALEN-HABIB	DIRECTOR	2.00	Director	$0	$0	$0
AARON MCKINNEY	DIRECTOR	2.00	Director	$0	$0	$0
DAN SCHWALL	DIRECTOR	2.00	Director	$0	$0	$0
JUAN PABLO TESSADA LUSCHER	DIRECTOR	2.00	Director	$0	$0	$0
JJ WINSTON	DIRECTOR	2.00	Director	$0	$0	$0
MIKE DEAN	EXECUTIVE DIRECTOR	2.00	Officer	$47,645	$0	$47,645
LEE HILL	CHIEF FINANCIAL OFFICER	2.00	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	$201,897	$237,021	$174,071	$-35,124
2023	$205,849	$202,321	$231,643	$3,528
2022	$225,023	$200,608	$228,379	$24,415
2021	$199,097	$163,135	$182,135	$35,962
2020	$220,197	$152,258	$145,001	$67,939