THE MARITIME HERITAGE FOUNDATION OF BEAUFORT NC INC

EIN: 820790402 501(c)(3) Arts, Culture & Humanities

BEAUFORT, NC

Total Revenue
$109,121
Total Expenses
$28,117
Total Assets
$3,331,501
Net Assets
$3,331,501
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
NC
Principal Officer
ELWYN WOOD
Phone
2527287654
Tax Period
2025-01-01 to 2025-12-31

THE MARITIME HERITAGE FOUNDATION OF BEAUFORT NC INC, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $109K in total revenue in fiscal year 2025. Revenue fell 61% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $81K, a strong 74% operating margin.

Mission

THE MARITIME HERITAGE FOUNDATION OF BEAUFORT NC, INC'S MISSION IS TO EXPAND THE CELEBRATION OF NC MARITIME HERITAGE BY EXPANDING THE FACILITIES, INCREASING THE ROLE IN EDUCATION AND ADVOCACY WHILE DRIVING NORTH CAROLINA'S ECONOMY, COASTAL AND STATEWIDE.

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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 (2025)

Revenue Breakdown

Contributions & Grants $67,045
Program Service Revenue $0
Investment Income $42,076
Other Revenue $0
TOTAL REVENUE $109,121

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $22,615
Other Expenses $28,117
TOTAL EXPENSES $28,117

Year-over-Year Comparison

2025 2024 Change
Revenue $109,121 $282,855 -0.6%
Expenses $28,117 $355,667 -0.9%
Net Income $81,004 $-72,812 -2.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
40

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
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOMMY BENNETT PRESIDENT N/A
Officer Director
$0 $0 $0
RUTH TAFT CECIL SECRETARY N/A
Officer Director
$0 $0 $0
RICHARD DEBUTTS TRUSTEE N/A
Director
$0 $0 $0
CHARLES OLIVER III TRUSTEE N/A
Director
$0 $0 $0
LEONARD SAFRIT JR TREASURER N/A
Officer Director
$0 $0 $0
THOMAS KIES EX OFFICIO N/A
Director
$0 $0 $0
PATRICIA MCELRAFT TRUSTEE N/A
Director
$0 $0 $0
RANDY RAMSEY TRUSTEE N/A
Director
$0 $0 $0
ELWYN WOOD VICE-PRESIDE N/A
Officer Director
$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 $109,121 $28,117 $3,331,501 $81,004
2024 $282,855 $355,667 $3,250,497 $-72,812
2023 $108,019 $503,279 $3,323,309 $-395,260
2022 $3,059,353 $199,528 $3,718,569 $2,859,825
2021 $149,068 $24,481 $858,744 $124,587
2020 $71,261 $21,485 $734,157 $49,776
2019 $243,283 $77,172 $684,381 $166,111
2018 $414,969 $101,871 $518,270 $313,098
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