Boothbay Region Maritime Foundation

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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

2019

Legal Domicile

Principal Officer

Troy Plummer

Phone

2073507280

Tax Period

2024-01-01 to 2024-12-31

Boothbay Region Maritime Foundation, founded in 2019, is a small nonprofit in the Environment sector that reported $578K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $731K exceeded revenue, resulting in a 26% operating deficit.

Mission

Preserving our Maritime Heritage by supporting working waterfront, promoting sustainable practices, and embracing the educational opportunities this stewardship provides.

Program Service Accomplishments

Program 1

Educating people about fishing activities in the region, past and present.

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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 $492,440

Program Service Revenue $0

Investment Income $85,927

Other Revenue $0

TOTAL REVENUE $578,367

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $295

Other Expenses $731,051

TOTAL EXPENSES $731,051

Year-over-Year Comparison

	2024	2023	Change
Revenue	$578,367	$526,035	+0.1%
Expenses	$731,051	$296,403	+1.5%
Net Income	$-152,684	$229,632	-1.7%

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

N/A

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Larry Knapp	Director	Director	$0	$0	$0
Troy Plummer	Treasurer	Director	$0	$0	$0
Deanne Tibbetts	President	Director	$0	$0	$0
Kathy Vise	Director	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	No data	No data	No data	No data
2024	$578,367	$731,051	$1,813,696	$-152,684
2023	$526,035	$296,403	$2,681,495	$229,632
2022	$667,289	$113,925	$2,451,863	$553,364
2021	$1,035,286	$71,075	$1,898,499	$964,211
2020	$943,357	$138,539	$934,288	$804,818
2019	$155,124	$33,891	$129,470	$121,233