Rituals of the Sea

EIN: 851964079 501(c)(3)

North Haven, ME

Total Revenue
$35,045
Total Expenses
$32,535
Total Assets
$40,644
Net Assets
$32,644
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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
2020
Legal Domicile
ME
Principal Officer
Sam Hallowell
Phone
2078371276
Tax Period
2023-01-01 to 2023-12-31

Rituals of the Sea, founded in 2020, is a micro nonprofit that reported $35K in total revenue in fiscal year 2023. Expenses of $33K left a modest 7% surplus.

Mission

The primary exempt purpose is educational. Rituals of the Sea encourages the exploration of folkways and craft traditions, and provides access to experience in open wooden boats.

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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 $35,000
Program Service Revenue $0
Investment Income $45
Other Revenue $0
TOTAL REVENUE $35,045

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $31,559
Other Expenses $32,535
TOTAL EXPENSES $32,535

Year-over-Year Comparison

2023 2022 Change
Revenue $35,045 N/A N/A
Expenses $32,535 N/A N/A
Net Income $2,510 N/A N/A
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
3
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
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Scott Handley President 1.00
Officer
$0 $0 $0
Bruce Halibisky Secretary 1.00
Officer
$0 $0 $0
Sam Hallowell Treasurer 1.00
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
2023 $35,045 $32,535 $40,644 $2,510
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