SARASOTA MARINE SAFETY FOUNDATION … - Form 990 Financial Data

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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

2018

Legal Domicile

Principal Officer

JAMES K TOOMEY

Phone

9419204646

Tax Period

2024-01-01 to 2024-12-31

SARASOTA MARINE SAFETY FOUNDATION INC, founded in 2018, is a micro nonprofit in the Public Safety sector that reported $67K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $153K exceeded revenue, resulting in a 127% operating deficit.

Mission

SUPPORT FEDERAL, STATE AND LOCAL AGENCIES IN SARASOTA COUNTY TO PROMOTEBOATER SAFETY AND EDUCATION PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $141,211

SUPPORT FEDERAL, STATE AND LOCAL AGENCIES IN SARASOTA COUNTY TO PROMOTEBOATER SAFETY AND EDUCATION PROGRAMS.

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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 $0

Investment Income $67,473

Other Revenue $0

TOTAL REVENUE $67,473

Expense Breakdown

Grants Paid $40,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $141,211

Other Expenses $112,982

TOTAL EXPENSES $152,982

Year-over-Year Comparison

	2024	2023	Change
Revenue	$67,473	$74,307	-0.1%
Expenses	$152,982	$110,874	+0.4%
Net Income	$-85,509	$-36,567	+1.3%

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

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
JAMES K TOOMEY	PRESIDENT	Officer Director	$0	$0	$0
RANDALL MORITZ	SECRETARY	Officer Director	$0	$0	$0
MURRAY PRICE	TREASURER	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
2024	$67,473	$152,982	$2,937,775	$-85,509

SARASOTA MARINE SAFETY FOUNDATION INC